Mar 31, 2016
a) Basis of Accounting
The accounts are prepared under the Historical Cost Convention. The Company adopts the accrual basis in the preparation of accounts in accordance with the Accounting standards referred to in Section 133 of the Companies Act 2013.
b) Basis of preparation
The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material aspects with the accounting standards notified under section 133 of Companies act, 2013. The financial statements have been prepared on accrual basis and under the historical cost convention. The accounting policies adopted in preparation of financial statements are consistent with those of previous year.
c) Revenue recognition
Sale of goods is recognized on transfer of property to the buyers for consideration. Interest on deployment of surplus funds is recognized using the time proportion method, based on interest rates implicit in the transaction.
d) Fixed Assets
i) Fixed Assets are stated at cost of acquisition inclusive of duties (net of Cenvat), taxes, incidental expenses, erection/ commissioning expenses etc. up to the time asset is ready for its intended use.
ii) Capital Work in progress is stated at the expenditure incurred up to the date of the Balance Sheet including capital advances.
iii) The carrying amounts of assets are reviewed at each Balance Sheet date to determine if there is any indication of Impairment based on external/ internal factors. An impairment loss is recognized wherever the carrying amount of the asset exceeds its recoverable amount which represents the greater of the net selling price of assets and their ''value in use''. The estimated future cash flows are discounted to their present value of the weighted average cost of capital.
e) Depreciation
Depreciation on the Assets has been provided on straight-line methods at the rates and in the manner specified in schedule-XIV of the Companies Act, 1956. Depreciation on impaired assets is calculated on its residual value, if any, on a systematic basis over its remaining useful life. Planting material is written off over a period of 5 years equally.
f) Investments
Long term investments, if any, are stated and carried at cost. However, unutilized issue proceeds are invested in fixed deposits with the company''s bankers.
g) Non-current assets
Expenditure incurred for public issue, pre-operative expenses, market development expenditure and expenditure on research and development will be amortized in over a period of 5 years in equal installments from the year of start of commercial production.
h) Foreign Currency Transactions
Foreign Exchange Transactions are recorded at the exchange rates prevailing on the date of transaction and any exchange differences arising on foreign transactions are recognized as income or expense in the year in which they arise.
i) Borrowing costs:
Borrowing costs are charged to profit and loss account except in cases where the borrowings are directly attributable to the acquisition, construction or production of a qualifying asset.
j) Retirement Benefits:
As regards to provident fund benefits, the company makes the stipulated contribution in respect of certain class of employees to regional provident fund authority under which the company''s liability is limited to the extent of contribution. Gratuity and leave encashment has been provided based on the actuarial valuation.
k) Taxation:
Current Income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act 1961.
l) Earnings per share:
Earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.
m) Expenditure during construction period:
The expenditure incidental to the expansion/ new projects is allocated to Fixed Assets in the year of commencement of commercial production. Interest on Loans raised for the expansion/ diversification project is set off against interest earned on unutilized Public issue funds.
n) Raw materials, stores and spare parts, packing materials, finished goods and work in progress are valued at lower of cost and Net realizable value (as certified by the management).
o) Deferred Tax Liability:-
The income from Agro based operations of the company comprises Horticulture and Nursery operations, which is exempted from Income Tax. Hence, Accounting Standard on deferred Tax Liability is not applicable in so far as it relates to the income from its agro based operations. However, for its Bio tech and Pharmaceutical operations, differed liability/ asset can be recognized once the diversification projects are completed.
Mar 31, 2015
A) Basis of preparation of financial statements
These financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except for certain financial
instruments which are measured at fair values. GAAP comprises mandatory
accounting standards as prescribed under Section 133 of the Companies
Act, 2013 ('the Act') read with Rule 7 ofthe Companies (Accounts)
Rules, 2014.
Management evaluates all recently issued or revised accounting
standards on an ongoing basis. The financial statements are prepared
under the historical cost convention. Recognition of income and
expenses, accrual basis of accounting is followed.
b) Use of Estimates
The preparation of financial statements in conformity with GAAP
requires Management to make estimates and assumptions that effect the
reported balances of assets and liabilities and disclosures relating to
contingent assets and liabilities as at the date of the financial
statements and reported amounts of income and expenses during the
period. Examples of such estimates include provisions for doubtful
debts, future obligations under retirement benefit plans, income taxes,
post-sales customer support and the useful lives of fixed assets and
intangible assets.
Management periodically assessed using external and internal sources
whether there is an indication that an asset may be impaired.
Contingencies are recorded when it is probable that a liability will be
incurred, and the amount can be reasonably estimated. Actual results
could differ from those estimates.
c) Revenue recognition
Sale of goods is recognized on transfer of property to the buyers for
consideration. Interest on deployment of surplus funds is recognized
using the time proportion method, based on interest rates implicit in
the transaction.
d) Fixed Assets
i) Fixed Assets are stated at cost of acquisition inclusive of duties
(net of Cenvat), taxes, incidental expenses, erection/ commissioning
expenses etc. upto the time asset is ready for its intended use.
ii) Capital Work in progress is stated at the expenditure incurred upto
the date of the Balance Sheet including capital advances.
iii) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine if there is any indication of Impairment based on
external/ internal factors. An impairment loss is recognized wherever
the carrying amount of the asset exceeds its recoverable amount which
represents the greater of the net selling price of assets and their
'value in use'. The estimated future cash flows are discounted to their
present value of the weighted average cost of capital.
e) Depreciation
Depreciation on fixed assets has been provided on straight-line method
based on useful life of asset specified in Schedule II of the Companies
Act, 2013 on pro-rata basis.
f) Investments
Long term investments, if any, are stated and carried at cost. However,
unutilized issue proceeds are invested in fixed deposits with the
company's bankers.
g) Non-current assets
Expenditure incurred for public issue, pre-operative expenses, market
development expenditure and expenditure on research and development
will be amortized in over a period of 5 years in equal installments
from the year of start of commercial production.
h) ForeignCurrencyTransactions
Foreign Exchange Transactions are recorded at the exchange rates
prevailing on the date of transaction and any exchange differences
arising on foreign transactions are recognized as income or expense in
the year in which they arise.
i) Borrowing costs:
Borrowing costs are charged to profit and loss account except in cases
where the borrowings are directly attributable to the acquisition,
construction or production of a qualifying asset.
j) Retirement Benefits:
As regards to provident fund benefits, the company makes the stipulated
contribution in respect of certain class of employees to regional
provident fund authority under which the company's liability is limited
to the extent of contribution. Gratuity and leave encashment has been
provided based on the actuarial valuation.
k) Taxation:
Current Income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Indian Income Tax Act 1961.
l) Earningspershare:
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.
m) Expenditure during construction period:
The expenditure incidental to the expansion/ new projects is allocated
to Fixed Assets in the year of commencement of commercial production.
Interest on Loans raised for the expansion/ diversification project is
set off against interest earned on unutilized Public issue funds.
n) Raw materials, stores and spare parts, packing materials, finished
goods and work in progress are valued at lower of cost and Net
realizable value (as certified by the management).
o) Deferred Tax Liability:-
The income from Agro based operations of the company comprises
Horticulture and Nursery operations, which is exempted from Income Tax.
Hence, Accounting Standard on deferred Tax Liability is not applicable
in so far as it relates to the income from its agro based operations.
However, for its Bio tech and Pharmaceutical operations, differed
liability/ asset can be recognized once the diversification projects
are completed.
Mar 31, 2014
A) Basis of Accounting
The accounts are prepared under the Historical Cost Convention. The
Company adopts the accrual basis in the preparation of accounts in
accordance with the Accounting standards referred to in Section 211(3C)
of the Companies Act 1956.
b) Basis of preparation
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Company has prepared these financial statements to
comply in all material aspects with the accounting standards notified
under the Companies (Accounting Standard) Rules, 2006, (as amended) and
the relevant provisions of the Companies act, 1956,. The financial
statements have been prepared on accrual basis and under the historical
cost convention. The accounting policies adopted in preparation of
financial statements are consistent with those of previous year.
c) Revenue recognition
Sale of goods is recognized on transfer of property to the buyers for
consideration. Interest on deployment of surplus funds is recognized
using the time proportion method, based on interest rates implicit in
the transaction.
d) Fixed Assets
i) Fixed Assets are stated at cost of acquisition inclusive of duties
(net of Cenvat), taxes, incidental expenses, erection/ commissioning
expenses etc. upto the time asset is ready for its intended use.
ii) Capital Work in progress is stated at the expenditure incurred upto
the date of the Balance Sheet including capital advances.
iii) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine if there is any indication of Impairment based on
external/ internal factors. An impairment loss is recognized wherever
the carrying amount of the asset exceeds its recoverable amount which
represents the greater of the net selling price of assets and their
''value in use''. The estimated future cash flows are discounted to their
present value of the weighted average cost of capital.
e) Depreciation
Depreciation on the Assets has been provided on straight-line methods
at the rates and in the manner specified in schedule-XIV of the
Companies Act, 1956. Depreciation on impaired assets is calculated on
its residual value, if any, on a systematic basis over its remaining
useful life. Planting material is written off over a period of 5 years
equally.
f) Investments
Long term investments, if any, are stated and carried at cost. However,
unutilized issue proceeds are invested in fixed deposits with the
company''s bankers.
g) Non-current assets
Expenditure incurred for public issue, pre-operative expenses, market
development expenditure and expenditure on research and development
will be amortized in over a period of 5 years in equal installments
from the year of start of commercial production.
h) Foreign Currency Transactions
Foreign Exchange Transactions are recorded at the exchange rates
prevailing on the date of transaction and any exchange differences
arising on foreign transactions are recognized as income or expense in
the year in which they arise.
i) Borrowing costs:
Borrowing costs are charged to profit and loss account except in cases
where the borrowings are directly attributable to the acquisition,
construction or production of a qualifying asset.
j) Retirement Benefits:
As regards to provident fund benefits, the company makes the stipulated
contribution in respect of certain class of employees to regional
provident fund authority under which the company''s liability is limited
to the extent of contribution. Gratuity and leave encashment has been
provided based on the actuarial valuation.
k) Taxation:
Current Income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Indian Income Tax Act 1961.
l) Earnings per share:
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.
m) Expenditure during construction period:
The expenditure incidental to the expansion/ new projects is allocated
to Fixed Assets in the year of commencement of commercial production.
Interest on Loans raised for the expansion/ diversification project is
set off against interest earned on unutilized Public issue funds.
n) Raw materials, stores and spare parts, packing materials, finished
goods and work in progress are valued at lower of cost and Net
realizable value (as certified by the management).
o) Deferred Tax Liability:-
The income from Agro based operations of the company comprises
Horticulture and Nursery operations, which is exempted from Income Tax.
Hence, Accounting Standard on deferred Tax Liability is not applicable
in so far as it relates to the income from its agro based operations.
However, for its Bio tech and Pharmaceutical operations, differed
liability/ asset can be recognized once the diversification projects
are completed.
Mar 31, 2013
A) Basis of Accounting
The accounts are prepared under the Historical Cost Convention. The
Company adopts the accrual basis in the preparation of accounts in
accordance with the Accounting standards referred to in Section 211(3C)
of the Companies Act 1956.
b) Basis of preparation
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Company has prepared these financial statements to
comply in all material aspects with the accounting standards notified
under the Companies (Accounting Standard) Rules, 2006, (as amended) and
the relevant provisions of the Companies act, 1956,. The financial
statements have been prepared on accrual basis and under the historical
cost convention. The accounting policies adopted in preparation of
financial statements are consistent with those of previous year.
c) Revenue recognition
Sale of goods is recognized on transfer of property to the buyers for
consideration. Interest on deployment of surplus funds is recognized
using the time proportion method, based on interest rates implicit in
the transaction.
d) Fixed Assets
i) Fixed Assets are stated at cost of acquisition inclusive of duties
(net of Cenvat), taxes, incidental expenses, erection/ commissioning
expenses etc. upto the time asset is ready for its intended use.
ii) Capital Work in progress is stated at the expenditure incurred upto
the date of the Balance Sheet including capital advances.
iii) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine if there is any indication of Impairment based on
external/ internal factors. An impairment loss is recognized wherever
the carrying amount of the asset exceeds its recoverable amount which
represents the greater of the net selling price of assets and their ''
value in use''. The estimated future cash flows are discounted to their
present value of the weighted average cost of capital.
e) Depreciation
Depreciation on the Assets has been provided on straight-line methods
at the rates and in the manner specified in schedule-XIV of the
Companies Act, 1956. Depreciation on impaired assets is calculated on
its residual value, if any, on a systematic basis over its remaining
useful life. Planting material is written off over a period of 5 years
equally.
f) Investments
Long term investments, if any, are stated and carried at cost. However,
unutilized issue proceeds are invested in fixed deposits with the
company''s bankers.
g) Non-current assets
Expenditure incurred for public issue, pre-operative expenses, market
development expenditure and expenditure on research and development
will be amortized in over a period of 5 years in equal installments
from the year of start of commercial production.
h) Foreign Currency Transactions
Foreign Exchange Transactions are recorded at the exchange rates
prevailing on the date of transaction and any exchange differences
arising on foreign transactions are recognized as income or expense in
the year in which they arise.
i) Borrowing costs:
Borrowing costs are charged to profit and loss account except in cases
where the borrowings are directly attributable to the acquisition,
construction or production of a qualifying asset.
j) Retirement Benefits:
As regards to provident fund benefits, the company makes the stipulated
contribution in respect of certain class of employees to regional
provident fund authority under which the company''s liability is limited
to the extent of contribution. Gratuity and leave encashment has been
provided based on the actuarial valuation.
k) Taxation:
Current Income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Indian Income Tax Act 1961.
l) Earnings per share:
Earning per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.
m) Expenditure during construction period:
The expenditure incidental to the expansion/ new projects is allocated
to Fixed Assets in the year of commencement of commercial production.
Interest on Loans raised for the expansion/ diversification project is
set off against interest earned on unutilized Public issue funds. n)
Raw materials, stores and spare parts, packing materials, finished
goods and work in progress are valued at lower of cost and Net
realizable value (as certified by the management).
o) Deferred Tax Liability:-
The income from Agro based operations of the company comprises
Horticulture and Nursery operations, which is exempted from Income Tax.
Hence, Accounting Standard on deferred Tax Liability is not applicable
in so far as it relates to the income from its agro based operations.
However, for its Bio tech and Pharmaceutical operations, differed
liability/ asset can be recognized once the diversification projects
are completed.
Mar 31, 2012
A) Basis of Accounting
The accounts are prepared under the Historical Cost Convention. The
Company adopts the accrual basis in the preparation of accounts in
accordance with the Accounting standards referred to in Section 211(3C)
of the Companies Act 1956.
b) Basis of preparation
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Company has prepared these financial statements to
comply in all material aspects with the accounting standards notified
under the Companies (Accounting Standard) Rules, 2006, (as amended) and
the relevant provisions of the Companies act, 1956,. The financial
statements have been prepared on accrual basis and under the historical
cost convention. The accounting policies adopted in preparation of
financial statements are consistent with those of previous year.
c) Revenue recognition
Sale of goods is recognized on transfer of property to the buyers for
consideration. Interest on deployment of surplus funds is recognized
using the time proportion method, based on interest rates implicit in
the transaction.
d) Fixed Assets
i) Fixed Assets are stated at cost of acquisition inclusive of duties
(net of Cenvat), taxes, incidental expenses, erection/ commissioning
expenses etc. upto the time asset is ready for its intended use.
ii) Capital Work in progress is stated at the expenditure incurred upto
the date of the Balance Sheet including capital advances.
iii) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine if there is any indication of Impairment based on
external/ internal factors. An impairment loss is recognized wherever
the carrying amount of the asset exceeds its recoverable amount which
represents the greater of the net selling price of assets and their '
value in use'. The estimated future cash flows are discounted to
their present value of the weighted average cost of capital.
e) Depreciation
Depreciation on the Assets has been provided on straight-line methods
at the rates and in the manner specified in schedule-XIV of the
Companies Act, 1956. Depreciation on impaired assets is calculated on
its residual value, if any, on a systematic basis over its remaining
useful life. Planting material is written off over a period of 5 years
equally.
f) Investments
Long term investments, if any, are stated and carried at cost. However,
unutilized issue proceeds are invested in fixed deposits with the
company's bankers.
g) Non-rurrent assets
Expenditure incurred for public issue, pre-operative expenses, market
development expenditure and expenditure on research and development
will be amortized in over a period of 5 years in equal installments
from the year of start of commercial production.
h) Foreign Currency Transactions
Foreign Exchange Transactions are recorded at the exchange rates
prevailing on the date of transaction and any exchange differences
arising on foreign transactions are recognized as income or expense in
the year in which they arise.
i) Borrowing costs:
Borrowing costs are charged to profit and loss account except in cases
where the borrowings are directly attributable to the acquisition,
construction or production of a qualifying asset.
j) Retirement Benefits:
As regards to provident fund benefits, the company makes the stipulated
contribution in respect of certain class of employees to regional
provident fund authority under which the company's liability is
limited to the extent of contribution. Gratuity and leave encashment
has been provided based on the actuarial valuation.
k) Taxation:
Current Income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Indian Income Tax Act 1961.
l) Earnings per share:
Earning per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.
m) Expenditure during construction period:
The expenditure incidental to the expansion/ new projects is allocated
to Fixed Assets in the year of commencement of commercial production.
Interest on Loans raised for the expansion/ diversification project is
set off against interest earned on unutilized Public issue funds.
n) Raw materials, stores and spare parts, packing materials, finished
goods and work in progress are valued at lower of cost and Net
realizable value (as certified by the management).
o) Deferred Tax Liability:-
The income from Agro based operations of the company comprises
Horticulture and Nursery operations, which is exempted from Income Tax.
Hence, Accounting Standard on deferred Tax Liability is not applicable
in so far as it relates to the income from its agro based operations.
However, for its Bio tech and Pharmaceutical operations, differed
liability/ asset can be recognized once the diversification projects
are completed.
Mar 31, 2010
A) Basis of Accounting
The accounts are prepared under the Historical Cost Convention. The
Company adopts the accrual basis in the preparation of accounts in
accordance with the Accounting standards referred to in Section 211(3C)
of the Companies Act 1956.
b) Revenue recognition
Sale of goods is recognised on transfer of property to the buyers for
consideration. Interest on deployment of surplus funds is recognised
using the time proportion method, based on interesst rates implicit in
the transaction.
c) Fixed Assets
i) Fixed Assets are stated at cost of acquisition inclusive of duties
(net of Cenvat), taxes, incidental expenses, erection/ commissioning
expenses etc. upto the time asset is ready for its intended use.
ii) Capital Work in progress is stated at the expenditure incurred upto
the date of the Balance Sheet including capital advances.
iii) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine if there is any indication of Impairment based on
external/ internal factors. An impairment loss is recognized wherever
the carrying amount of the asset exceeds its recoverable amount which
represents the greater of the net selling price of assets and their
value in use. The estimated future cash flows are discounted to their
present value of the weighted average cost of capital.
d) Depreciation
Depreciation on the Assets has been provided on straight-line methods
at the rates and in the manner specified in schedule-XIV of the
Companies Act, 1956. Depreciation on impaired assets is calculated on
its residual value, if any, on a systematic basis over its remaining
useful life. Planting material is written off over a period of 5 years
equally.
e) Investments
Long term investments, if any, are stated and carried at cost. However,
unutilized issue proceeds are invested in fixed deposits with the
companys bankers.
f) Miscellaneous Expenses
Miscellaneous Expenditure includes public issue expenses and
pre-operative expenses of the expansion project under implementation
and expenditure on Research and Development, Market Development.
g) Foreign Currency Transactions
Foreign Exchange Transactions are recorded at the exchange rates
prevailing on the date of transaction and any exchange differences
arising on foreign transactions are recognized as income or expense in
the year in which they arise.
h) Borrowing costs:
Borrowing costs are charged to profit and loss account except in cases
where the borrowings are directly attributable to the acquisition,
construction or production of a qualifying asset.
i) Retirement Benefits:
As regards to provident fund benefits, the company makes the stipulated
contribution in respect of certain class of employees to regional
provident fund authority under which the companys liability is limited
to the extent of contribution. Gratuity will be accounted for on
payment basis.
j) Taxation:
Tax expense comprises of current and fringe benefit tax. Current Income
tax and Fringe Benefit Tax is measured at the amount expected to be
paid to the tax authorities in accordance with the Indian Income Tax
Act 1961.
k) Earnings per share:
Earning per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.
l) Expenditure during construction period:
The expenditure incidental to the expansion/ new projects is allocated
to Fixed Assets in the year of commencement of commercial production.
Interest on Loans raised for the expansion/ diversification project is
set off against interest earned on unutilised Public issue funds. m)
Raw materials, stores and spare parts, packing materials, finished
goods and work in progress are valued at lower of cost and Net
realisable value (as certified by the management). n) Deferred Tax
Liability:- The income from Agro based operations of the company
comprises Horticulture and Nursery operations, which is exempted from
Income Tax. Hence, Accounting Standard on deferred Tax Liability is
not applicable in so far as it relates to the income from its agro
based operations. However, for its Bio tech and Pharmaceutical
operations, differed liability/ asset can be recognised once the
diversification projects are completed. o) Contingent Liabilities
All known liabilities, wherever material, are provided by way of Notes
to accounts.