Mar 31, 2015
A. GENERAL
Financial statements have been prepared under historical cost
convention, in accordance with the generally accepted accounting
principles and the provisions of the Companies Act, 1956 as adopted
consistently by the company.
B. USE OF ESTIMATE
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of financial statements and the reported amount
of revenues and expenses during the reporting period. Difference
between the actual result and estimates are recognized in the period in
which the results are known / materialized.
C. FIXEDASSETS
(a) Fixed Assets are stated at cost net of recoverable taxes and
includes amounts added revaluation, less accumulated depreciation and
impairment loss, if any. All costs, including trial run production and
financing cost till commencement of commercial production are
capitalized net of cenvat.
(b) Capital Work in Progress:
Capital work in progress includes cost of assets at sites, Construction
expenditure, advances made for acquisition of capital assets and
interest on the funds deployed.
D. DEPRECIATION
i) Depreciation on the fixed assets has been provided as per schedule
II ofCompaniesAct, 2013, and useful life of the assets have been
assessed as per same schedule.
ii) Depreciation on fixed assets addition/deletion during the year has
been provided on pro-rata basis with reference to the day of
addition/deletion.
E. IMPAIRMENT OF ASSETS
An assets is treated as impaired, when the carrying cost of assets
exceeds its recoverable value. An impairment loss, if any, charged to
profit and loss account, in the year in which an asset is identified as
impaired. The impairment less recognized is prior accounting period is
reversed if there has been a change in estimate of recoverable amount.
F. INVESTMENT
Long-term investments are stated at the cost of acquisition. Provision
for diminution in the value of Long term Investment has been made
during the year whenever there is decline other than temporary in the
opinion of the Management.
G. INVENTORIES
In general, all inventories of finished, work-in-progress etc. are
stated at lower of cost or net realizable value. Cost of inventories
comprise of all cost of purchase, cost of conversion and other cost
incurred in bringing the inventory to their present location and
condition. Raw materials & Stores and Spares are stated at cost on FIFO
basis. Waste and by product are valued at net realizable value.
Inventory of finished goods and waste include excise duty, wherever
applicable.
H. TRANSACTIONS IN FOREIGN EXCHANGE
Transactions denominated in foreign currency are normally recorded at
the customs exchange rate prevailing at the time of transaction.
Monetary Items denominated in foreign currencies at the year end are
restated at year end rates.
Revenue from sale of goods is recognized when significant risk and
rewards of ownership of goods have passed to the buyer.
I. SALES & PURCHASE
Sales are recorded net of return, rate difference and sales claim.
Purchases are recorded inclusive of all taxes excluding VAT net of
return rate differences and purchase claim.
J. BORROWING COST
Borrowing cost that is attributable to the acquisition or construction
of qualifying assets are capitalized as part of the cost of such
assets. A qualifying assets is one that necessary takes substantial
period of the time to get ready for intended use. All other cost is
charged to revenue.
K. EXPORT INCENTIVES.
Benefit on account of entitlement of Duty Draw Back and others are
recognized as and when right to receive is established as per the terms
of the scheme.
L EMPLOYEES RETIREMENT BENEFIT
Contribution to Provident fund and leave encashment benefits are
charged to profit and loss account on actual basis. Gratuity and other
retirement benefits have been recorded on cash basis.
M. PROVISION FOR CURRENT AND DEFERRED TAX
Provision for Taxation has been made in the accounts under Minimum
Alternate Tax (MAT) as per provision of Section 115JB of the Income Tax
Act, 1961.
Deferred tax resulting from "timing difference" between books and
taxable profit is accounted for using the tax rates and loss that have
been enacted or substantially enacted as on the Balance Sheet date. The
deferred tax Assets is recognized and carried forwarded only to the
extent that there is a reasonable certainty that the assets will be
realized in future.
N. PROVISION, CONTINGENT LIABILITY AND CONTINGENT ASSETS.
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements.
Mar 31, 2014
A. GENERAL
Financial statements have been prepared under historical cost
convention, in accordance with the generally accepted accounting
principles and the provisions of the Companies Act, 1956 as adopted
consistently by the company.
B. USE OF ESTIMATE
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of financial statements and the reported amount
of revenues and expenses during the reporting period. Difference
between the actual result and estimates are recognized in the period in
which the results are known / materialized.
C. FIXED ASSETS
(a) Fixed Assets are stated at cost net of recoverable taxes and
includes amounts added revaluation, less accumulated depreciation and
impairment loss, if any. All costs, including trial run production and
financing cost till commencement of commercial production are
capitalized net of cenvat.
(b) Capital Work in Progress:
Capital work in progress includes cost of assets at sites, Construction
expenditure, advances made for acquisition of capital assets and
interest on the funds deployed.
D. DEPRECIATION
i) Depreciation on the fixed assets at Mumbai Office has been provided
on written down value method, Depreciation on fixed assets located at
Silvassa, Sarigam and Bangalore Units has been provided on straight
line method at the rates and in the manner prescribed under Schedule
XIV of the Companies Act, 1956.
ii) Depreciation on fixed assets addition/deletion during the year has
been provided on pro-rata basis with reference to the day of
addition/deletion.
E. IMPAIRMENT OF ASSETS
An assets is treated as impaired, when the carrying cost of assets
exceeds its recoverable value. An impairment loss, if any, charged to
profit and loss account, in the year in which an asset is identified as
impaired. The impairment less recognized is prior accounting period is
reversed if there has been a change in estimate of recoverable amount.
F. INVESTMENT
Long-term investments are stated at the cost of acquisition. Provision
for diminution in the value of Long term Investment has been made
during the year whenever there is decline other than temporary in the
opinion of the Management.
G. INVENTORIES
In general, all inventories of finished, work-in-progress etc. are
stated at lower of cost or net realizable value. Cost of inventories
comprise of all cost of purchase, cost of conversion and other cost
incurred in bringing the inventory to their present location and
condition. Raw materials & Stores and Spares are stated at cost on FIFO
basis. Waste and by product are valued at net realizable value.
Inventory of finished goods and waste include excise duty, wherever
applicable.
H. TRANSACTIONS IN FOREIGN EXCHANGE
Transactions denominated in foreign currency are normally recorded at
the customs exchange rate prevailing at the time of transaction.
Monetary Items denominated in foreign currencies at the year end are
restated at year end rates.
Revenue from sale of goods is recognized when significant risk and
rewards of ownership of goods have passed to the buyer.
I. SALES & PURCHASE
Sales are recorded net of return, rate difference and sales claim.
Purchases are recorded inclusive of all taxes excluding VAT net of
return rate differences and purchase claim.
J. BORROWING COST
Borrowing cost that is attributable to the acquisition or construction
of qualifying assets are capitalized as part of the cost of such
assets. A qualifying assets is one that necessary takes substantial
period of the time to get ready for intended use. All other cost is
charged to revenue.
K. EXPORT INCENTIVES
Benefit on account of entitlement of Duty Draw Back and others are
recognized as and when right to receive is established as per the terms
of the scheme.
L. EMPLOYEES RETIREMENT BENEFIT
Contribution to Provident fund and leave encashment benefits are
charged to profit and loss account on actual basis. Gratuity and other
retirement benefits have been recorded on cash basis.
M. PROVISION FOR CURRENT AND DEFERRED TAX
Provision for Taxation has been made in the accounts under Minimum
Alternate Tax (MAT) as per provision of Section 115JB of the Income Tax
Act, 1961.
Deferred tax resulting from "timing difference" between books and
taxable profit is accounted for using the tax rates and loss that have
been enacted or substantially enacted as on the Balance Sheet date. The
deferred tax Assets is recognized and carried forwarded only to the
extent that there is a reasonable certainty that the assets will be
realized in future.
N. PROVISION, CONTINGENT LIABILITY AND CONTINGENT ASSETS
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements.
Mar 31, 2013
A. GENERAL
Financial statements have been prepared under Historical Cost
Convention, in accordance with the Generally Accepted Accounting
Principles and the provisions of the Companies Act, 1956 as adopted
consistently by the Company.
B. USE OF ESTIMATE
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of financial statements and the reported amount
of revenues and expenses during the reporting period. Difference
between the actual result and estimates are recognized in the period in
which the results are known / materialized.
C. FIXED ASSETS
(a) Fixed Assets are stated at cost net of recoverable taxes and
includes amounts added revaluation, less accumulated depreciation and
impairment loss, if any. All costs, including trial run production and
financing cost till commencement of commercial production are
capitalized net of cenvat.
(b) Capital Work in Progress:
Capital work in progress includes cost of assets at sites, Construction
expenditure, advances made for acquisition of capital assets and
interest on the funds deployed.
D. DEPRECIATION
i) Depreciation on the Fixed Assets at Mumbai Office has been provided
on written down value method, Depreciation on fixed assets located at
Silvassa, Sarigam and Bengaluru Units has been provided on straight
line method at the rates and in the manner prescribed under Schedule
XIV of the Companies Act, 1956.
ii) Depreciation on Fixed Assets addition/deletion during the year has
been provided on pro-rata basis with reference to the day of
addition/deletion.
E. IMPAIRMENT OF ASSETS
An assets is treated as impaired, when the carrying cost of assets
exceeds its recoverable value. An impairment loss, if any, charged to
profit and loss account, in the year in which an asset is identified as
impaired. The impairment less recognized is prior accounting period is
reversed if there has been a change in estimate of recoverable amount.
F. INVESTMENT
Long-term investments are stated at the cost of acquisition. Provision
for diminution in the value of Long term Investment has been made
during the year whenever there is decline other than temporary in the
opinion of the Management.
G. INVENTORIES
In general, all inventories of finished, work-in-progress etc. are
stated at lower of cost or net realizable value. Cost of inventories
comprise of all cost of purchase, cost of conversion and other cost
incurred in bringing the inventory to their present location and
condition. Raw materials & Stores and Spares are stated at cost on FIFO
basis. Waste and by product are valued at net realizable value.
Inventory of finished goods and waste include excise duty, wherever
applicable.
H. TRANSACTIONS IN FOREIGN EXCHANGE
Transactions denominated in foreign currency are normally recorded at
the customs exchange rate prevailing at the time of transaction.
Monetary Items denominated in foreign currencies at the year end are
restated at year end rates.
Revenue from sale of goods is recognized when significant risk and
rewards of ownership of goods have passed to the buyer.
I. SALES & PURCHASE
Sales are recorded net of return, rate difference and sales claim.
Purchases are recorded inclusive of all taxes excluding VAT net of
return rate differences and purchase claim.
J. BORROWING COST
Borrowing cost that is attributable to the acquisition or construction
of qualifying assets are capitalized as part of the cost of such
assets. A qualifying assets is one that necessary takes substantial
period of the time to get ready for intended use. All other cost is
charged to revenue.
K. EXPORT INCENTIVES
Benefit on account of entitlement of Duty Draw Back and others are
recognized as and when right to receive is established as per the terms
of the scheme.
L. EMPLOYEES RETIREMENT BENEFIT
Contribution to Provident Fund and leave encashment benefits are
charged to Statement of Profit and Loss on actual basis. Gratuity and
other retirement benefits have been recorded on cash basis.
M. PROVISION FOR CURRENT AND DEFERRED TAX
Provision for Taxation has been made in the accounts under Minimum
Alternate Tax (MAT) as per provision of Section 115JB of the Income Tax
Act, 1961.
Deferred tax resulting from "timing difference" between books and
taxable profit is accounted for using the tax rates and loss that have
been enacted or substantially enacted as on the Balance Sheet date. The
deferred tax Assets is recognized and carried forwarded only to the
extent that there is a reasonable certainty that the assets will be
realized in future.
N. PROVISION, CONTINGENT LIABILITY AND CONTINGENT ASSETS
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements.
Mar 31, 2012
A. GENERAL
Financial statements have been prepared under historical cost
convention, in accordance with the generally accepted accounting
principles and the provisions of the Companies Act, 1956 as adopted
consistently by the company.
B. USE OF ESTIMATE
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of financial statements and the reported amount
of revenues and expenses during the reporting period. Difference
between the actual result and estimates are recognized in the period in
which the results are known I materialized.
C. FIXED ASSETS
(a) Fixed Assets are stated at cost net of recoverable taxes and
includes amounts added revaluation, less accumulated depreciation and
impairment loss, if any. All costs, including trial run production and
financing cost till commencement of commercial production are
capitalized netofcenvat.
(b) Capital Work in Progress:
Capital work in progress includes cost of assets at sites, Construction
expenditure, advances made for acquisition of capital assets and
interest on the funds deployed.
D. DEPRECIATION
i) Depreciation on the fixed assets at Mumbai Office has been provided
on written down value method, Depreciation on fixed assets located at
Silvassa, Sarigam and Bangalore Units has been provided on straight
line method at the rates and in the manner prescribed under Schedule
XIV of the Companies Act, 1956.
ii) Depreciation on fixed assets addition/deletion during the year has
been provided on pro-rata basis with reference to the day of
addition/deletion.
E. IMPAIRMENT OF ASSETS
An assets is treated as impaired, when the carrying cost of assets
exceeds its recoverable value. An impairment loss, if any, charged to
Statement of profit and loss, in the year in which an asset is
identified as impaired. The impairment less recognized is prior
accounting period is reversed if there has been a change in estimate of
recoverable amount.
F. INVESTMENT
Long-term investments are stated at the cost of acquisition. Provision
for diminution in the value of Long term Investment has been made
during the year whenever there is decline other than temporary in the
opinion of the Management.
G. INVENTORIES
In general, all inventories of finished, work-in-progress etc. are
stated at lower of cost or net realizable value. Cost of inventories
comprise of all cost of purchase, cost of conversion and other cost
incurred in bringing the inventory to their present location and
condition. Raw materials & Stores and Spares are stated at cost on FIFO
basis. Waste and by product are valued at net realizable value.
Inventory of finished goods and waste include excise duty, wherever
applicable.
H. TRANSACTIONS IN FOREIGN EXCHANGE
Transactions denominated in foreign currency are normally recorded at
the customs exchange rate prevailing at the time of transaction.
Monetary Items denominated in foreign currencies at the year end are
restated at year end rates.
Revenue from sale of goods is recognized when significant risk and
rewards of ownership of goods have passed to the buyer.
I. SALES & PURCHASE
Sales are recorded net of return, rate difference and sales claim.
Purchases are recorded inclusive of all taxes excluding VAT net of
return rate differences and purchase claim.
J. BORROWING COST
Borrowing cost that is attributable to the acquisition or construction
of qualifying assets are capitalized as part of the cost of such
assets. A qualifying assets is one that necessary takes substantial
period of the time to get ready for intended use. All other cost is
charged to revenue.
K. EXPORT INCENTIVES
Benefit on account of entitlement of Duty Draw Back and others are
recognized as and when right to receive is established as per the terms
ofthe scheme.
L. EMPLOYEES RETIREMENT BENEFIT
Contribution to Provident fund and leave encashment benefits are
charged to profit and loss account on actual basis. Gratuity and other
retirement benefits have been recorded on cash basis.
M. PROVISION FOR CURRENT AND DEFERRED TAX
Provision for Taxation has been made in the accounts under Minimum
Alternate Tax (MAT) as per provision of Section 115JB ofthe Income Tax
Act, 1961.
Deferred tax resulting from "timing difference" between books and
taxable profit is accounted for using the tax rates and loss that have
been enacted or substantially enacted as on the Balance Sheet date. The
deferred tax Assets is recognized and carried forwarded only to the
extent that there is a reasonable certainty that the assets will be
realized in future.
N. PROVISION, CONTINGENT LIABILITY AND CONTINGENT ASSETS
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements.
Mar 31, 2010
A.GENERAL
Financial statements have been prepared under historical cost
convention, in accordance with the generally accepted accounting
principles and the provisions of the Companies Act, 1956 as adopted
consistently by the company.
B.USE OF ESTIMATE
The presentation of financial statements in conformity with the
generally accepted accounting principles requires estimates and
assumption to be made that affect the reported amount of assets and
liabilities on the date of the financial statement and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual result and estimates are recognized in the period in
which the results are known / materialized.
C.FIXED ASSETS
(a) Fixed assets are stated at cost of acquisition or construction,
less accumulated depreciation. All costs, including trial run
production and financing cost till commencement of commercial
production are capitalized net of cenvat.
(b) Capital Work in Progress:
Capital work in progress includes cost of assets at sites, Construction
expenditure, advances made for acquisition of capital assets and
interest on the funds deployed.
D.DEPRECIATION
i) Depreciation on the fixed assets at Mumbai Office has been provided
on written down value method, Depreciation on fixed assets located at
Silvassa, Sarigam and Bangalore Units has been provided on straight
line method at the rates and in the manner prescribed under Schedule
XIV of the Companies Act, 1956.
ii) Depreciation on fixed assets addition / deletion during the year
has been provided on pro-rata basis with reference to the day of
addition / deletion.
E. IMPAIRMENT OF ASSETS:
An assets is treated as impaired, when the carrying cost of assets
exceeds its recoverable value. An impairment loss, if any, charged to
profit and loss account, in the year in which an asset is identified as
impaired. The impairment less recognized is prior accounting period is
reversed if there has been a change in estimate of recoverable amount.
F. INVESTMENT
- Long-term investments are stated at the cost of acquisition.
Provision for diminution in the value of Long term investment has been
made during the year whenever there is decline other than temporary in
the opinion of the Management.
G.INVENTORIES:
In general, all inventories of finished, work-in-progress etc. are
stated at lower of cost or net realizable value. Cost of inventories
comprise of all cost of purchase, cost of conversion and other cost
incurred in bringing the inventory to their present location and
condition. Raw materials & Stores and Spares are stated at cost on FIFO
basis. Waste and by product are valued at net realizable value.
Inventory of finished goods and waste include excise duty, wherever
applicable.
H. TRANSACTIONS IN FOREIGN EXCHANGE
Transactions denominated in foreign currency are normally recorded at
the customs exchange rate prevailing at the time of transaction.
Monetary Items denominated in foreign currencies at the year end are
restated at year end rates.
Revenue from sale of goods is recognized when significant risk and
rewards of ownership of goods have passed to the buyer.
I. SALES & PURCHASE
Sales are recorded inclusive of excise duty, net of return, rate
difference and sales claim. Purchases are recorded net of excise duty
if cenvat taken.
J. BORROWING COST
Borrowing cost that are attributable to the acquisition or construction
of qualifying assets are capitalized as part of the cost of such
assets. Aqualifying assets is one that necessary takes substantial
period of the time to get ready for intended use. All other cost is
charged to revenue.
K.EXPORT INCENTIVES
Benefit on account of entitlement of Duty Draw Back and others are
recognized as and when right to receive is established as per the terms
of the scheme.
L. EMPLOYEES RETIREMENT BENEFIT
Contribution to Provident fund, ESIC and leave encashment benefits are
charged to profit and loss account on actual basis. Gratuity and other
retirement benefits have been recorded on cash basis.
M.PROVISION FOR CURRENT AND DEFERRED TAX
Provision for Taxation has been made in the accounts under Minimum
Alternate Tax (MAT) as per provision of Section 115JBofthe Income Tax
Act, 1961.
Deferred tax resulting from "timing difference" between book and
taxable profit is accounted for using the tax rates and loss that have
been enacted or substantially enacted as on the Balance Sheet date. The
deferred tax Assets is recognized and carried forwarded only to the
extent that there is a reasonable certainty that the assets will be
realized in future.
N.PROVISION, CONTINGENT LIABILITY AND CONTINGENT ASSETS.
Provision involving substantial degree of estimation in measurement are
recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements.