Mar 31, 2014
A) Method of Accounting
The Company maintains its accounts on mercantile basis. However,
certain escalations and other claims which are not
ascertainable/acknowledged by customers / suppliers are taken into
account only on such acknowledgment by customers / suppliers.
b) Fixed Assets
Fixed Assets are stated at Historical Cost of Acquisition or
Construction Cost less Depreciation. Attributable cost and expenses of
bringing the assets to working condition for their intended use are
capitalized.
c) Depreciation
Depreciation on Fixed Assets is provided on Straight Line Method at the
rate and in the manner prescribed in Schedule XIV to the Companies
Act.1956
d) Inventories
Inventories are valued as under :-
i) Raw material and other
Inventories At Cost.
ii) Work in Process At Estimated Cost.
iii) Finished Goods At Cost or Market Value whichever
is lower.
iv) Scrap At Market Value.
e) Gratuity
The company has provided for Gratuity liability on estimated basis. No
Actuarial Valuation has been made.
f) Income Recognition
I) Sale is inclusive of Excise Duty but excludes Sales Tax/VAT. The
export benefits are recognized as income on the basis of actual
exports.
ii) Excise duty liability on manufactured goods lying in the factory
premises in not provided for and is also not included in the valuation
of stock.
g) Foreign Currencies
There has been no transaction in Foreign Exchange
Mar 31, 2013
A) Method of Accounting
The Company maintains its accounts on mercantile basis. However,
certain escalations and other claims which are not
ascertainable/acknowledged by customers / suppliers are taken into
account only on such acknowledgment by customers / suppliers.
b) Fixed Assets
Fixed Assets are stated at Historical Cost of Acquisition or
Construction Cost less Depreciation. Attributable cost and expenses of
bringing the assets to working condition for their intended use are
capitalized.
c) Depreciation
Depreciation on Fixed Assets is provided on Straight Line Method at the
rate and in the manner prescribed in Schedule XIV to the Companies
Act,1956
d) Inventories
Inventories are valued as under :- i) Raw material and other
Inventories At Cost. ii) Work in Process At Estimated Cost.
iii) Finished Goods At Cost or Market Value whichever is lower.
iv) Scrap At Market Value.
e) Gratuity
The company has provided for Gratuity liability on estimated basis. No
Actuarial Valuation has been made.
f) Income Recognition
i) Sale is inclusive of Excise Duty but excludes Sales Tax/VAT. The
export benefits are recognized as income on the basis of actual
exports.
ii) Excise duty liability on manufactured goods lying in the factory
premises is not provided for and is also not included in the valuation
of stock.
g) Foreign Currencies
There has been no transaction in Foreign Exchange
Mar 31, 2012
A) Method of Accounting
The Company maintains its accounts on mercantile basis. However,
certain escalations and other claims which are not
ascertainable/acknowledged by customers / suppliers are taken into
account only on such acknowledgment by customers / suppliers.
b) Fixed Assets
Fixed Assets are stated at Historical Cost of Acquisition or
Construction Cost less Depreciation. Attributable cost and expenses of
bringing the assets to working condition for their intended use are
capitalized.
c) Depreciation
Depreciation on Fixed Assets is provided on Straight Line Method at the
rate and in the manner prescribed in Schedule XIV to the Companies
Act.1956.
d) Inventories
Inventories are valued as under :- i) Raw material and other
Inventories At Cost ii) Work in Process At Estimated Cost
iii) Finished Goods At Cost or Market Value whichever is lower
iv) Scrap At Market Value
e) Gratuity
The company has provided for Gratuity liability on estimated basis. No
Actuarial Valuation has been made.
f) Income Recognition
i) Sale is inclusive of Excise Duty but excludes Sales Tax/VAT. The
export benefits are recognized as income on the basis of actual
exports. ii) Excise duty liability on manufactured goods lying in the
factory premises in not provided for and is also not included in the
valuation of stock.
g) Foreign Currencies
There has been no transaction in Foreign Exchange
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