Mar 31, 2015
Note - 1
A. Basis of Preparation of Financial Statement
The financial statements are prepared under the historical cost
convention in accordance with the generally accepted accounting
principles in India and the provisions of the Companies Act, 2013.
B. Use of Estimates
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 the financial statements and the reported
amount of revenues and expenses during the reporting period.
Differences between the actual results and estimates are recognised in
the period in which the results are known /materialised.
C. Own fixed assets
Fixed Assets are stated at cost less accumulated depreciation and
impairment, if any. Direct costs are capitalized until fixed assets are
ready for use. Capital work-in-progress comprises the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
D. Depreciation and amortization
Depreciation on fixed assets is provided on the written down value
method over the useful lives of assets estimated by the Management at
the rates and in the manner prescribed in Schedule II of Companies Act,
2013.
E. Revenue Recognition
Revenue is recognized only when it can be reliably measured and it is
reasonable to expect ultimate collection. Dividend income is recognized
when right to receive is established. Interest income is recognized on
time proportion basis taking into account the amount outstanding and
rate applicable. Depreciation for assets purchased/sold during a
period is proportionately charged.
F. Impairment of Assets
An assets is treated as impaired when the carrying cost of asset
exceeds its recoverable value. An impairment loss is charged to the
Profit and Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognised in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
G. Investments
Current investments are carried at lower of cost and quoted/fair value
computed category wise. Long Term Investments are stated at cost.
Provision for diminution in the value of long term investments is made
only if such a decline is other than temporary.
H. Inventories
Items of inventories are measured at lower of cost and net realisable
value after providing for obsolescence, if any. Cost of inventories
comprises cost of purchase, cost of conversion and other costs
including manufacturing overheads incurred in bringing them to their
respective present location and condition. Cost of raw materials,
stores and spares, packing materials, trading and other products are
determined on weighted average basis. By-products are valued at net
realisable value.
I. Employee Benefits
Short term employee benefits are recognised as an expense at the
undiscounted amount in the Profit and Loss account of the year in which
the related service is rendered. Post employment and other long term
employee benefits are recognised as an expense in the Profit and Loss
account for the year in which the employee has rendered services.
J. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between taxable and
accounting income is accounted for using the tax rates and laws that
enacted or substantively enacted as on the balance sheet date. Deferred
tax assets is recognized and carried forward only to the extent that
there is a virtual certainty that the asset will be realised in future.
K. Provisions, Contingent Liabilities 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. Contingents Assets are neither recognized nor disclosed in the
financial statements.
L. Previous year's figures have been regrouped and rearranged,
wherever necessary.
Mar 31, 2014
Note -1
A. Basis of Preparation of Financial Statement
The financial statements are prepared under the historical cost
convention in accordance with the generally accepted accounting
principles in India and the provisions of the Companies Act, 1956.
B. Use of Estimates
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 the financial statements and the reported
amount of revenues and expenses during the reporting period.
Differences between the actual results and estimates are recognised in
the period in which the results are known /materialised.
C. Own fixed assets
Fixed Assets are stated at cost less accumulated depreciation and
impairment, if any. Direct costs are capitalized until fixed assets are
ready for use. Capital work-in-progress comprises the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
D. Depreciation and amortization
Depreciation on fixed assets is provided on the written down value
method over the useful lives of assets estimated by the Management at
the rates and in the manner prescribed in Schedule XIV ofthe Companies
Act, 1956.
E. Revenue Recognition
Revenue is recognized only when it can be reliably measured and it is
reasonable to expect ultimate collection. Dividend income is recognized
when right to receive is established. Interest income is recognized on
time proportion basis taking into account the amount outstanding and
rate applicable. Depreciation for assets purchased/sold during a period
is proportionately charged.
F. Impairmentof Assets
An assets is treated as impaired when the carrying cost of asset
exceeds its recoverable value. An impairment loss is charged to the
Profit and Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognised in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
G. Investments
Current investments are carried at lower of cost and quoted/fair value
computed category wise. Long Term Investments are stated at cost.
Provision for diminution in the value of long term investments is made
only if such a decline is other than temporary.
H. Inventories
Items of inventories are measured at lower of cost and net realisable
value after providing for obsolescence, if any. Cost of inventories
comprises cost of purchase, cost of conversion and other costs
including manufacturing overheads incurred in bringing them to their
respective present location and condition. Cost of raw materials,
stores and spares, packing materials, trading and other products are
determined on weighted average basis. By-products are valued at net
realisable value.
I. Employee Benefits
Short term employee benefits are recognised as an expense at the
undiscounted amount in the Profit and Loss account of the year in which
the related service is rendered. Post employment and other long term
employee benefits are recognised as an expense in the Profit and Loss
account for the year in which the employee has rendered services.
J. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions ofthe Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between taxable and
accounting income is accounted for using the tax rates and laws that
enacted or substantively enacted as on the balance sheet date. Deferred
tax assets is recognized and carried forward only to the extent that
there is a virtual certainty that the asset will be realised in future.
K. Provisions, Contingent Liabilities 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. Contingents Assets are neither recognized nor disclosed inthe
financial statements.
L. Previous year''s figures have been regrouped and rearranged.
Mar 31, 2013
A. Basis of Preparation of Financial Statement
The financial statements are prepared under the historical cost
convention in accordance with the generally accepted accounting
principles in India and the provisions of the Companies Act, 1956.
B. Use of Estimates
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 the financial statements and the reported
amount of revenues and expenses during the reporting period.
Differences between the actual results and estimates are recognjsed in
the period in which the results are known/materialised.
C. Own Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation and
impairment, if any. Direct Costs are capitalised until fixed assets are
ready for use. Capital work-in-progress comprises the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
D. Depreciation and Amortisation
Depreciation on fixed assets is provided on the written down value
method over the useful lives of assets estimated by the Management at
the rates and in the manner prescribed in Schedule XIV of the Companies
Act, 1956.
E. Revenue Recognition
Revenue is recognized only when it can be reliably measured and it is
reasonable to expect ultimate collection. Dividend income is recognized
when right to receive is established. Interest income is recognized on
time proportion basis taking into account the amount outstanding and
rate applicable. Depreciation for assets purchased/sold during a
period is proportionately charged.
F. Impairment of Assets
As assets is treated as impaired when the carrying cost of assets
exceeds its recoverable value. An impairment loss is charged to the
Profit and Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognised in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
G. Investments
Current investments are carried at lower of cost and quoted/fair value
computed category wise. Long Term Investments are stated at cost.
Provision for dimunition in the value of long term investments is made
only if such a decline is other than temporary.
H. Inventories
Items of inventories are measured at lower of cost and net realisable
value after providing for obsolescence, if any. Cost of inventories
comprises cost of purchase, cost of conversion and other costs
including manufacturing overheads incurred in bringing them to their
respective present location and condition. Cost of raw materials,
stores and spates, packing materials trading and other products are
determined on weighted average basis. By-products are value at net
realisable value.
I. Employee Benefits
Short term employee benefits ars recognised as an expense at trie
undiscounted amount in the Profit and Loss Account of the year in which
the related servis rendered. Post employment and other long term
employee benefits are recognised as an expense in the Profit and Loss
Account for the year in which the employee has rendered services.
J. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of Income Tax Act, 1961.
Deferred Tax resulting from "timing difference" between taxable and
acounting income is accounted for using the tax rates and laws that
enacted or substantially enacted as on the balance sheet date. Deferred
tax assets is recognized and carried forward only to the extent that
there is a virtual certainity that the asset will be realised in
future.
K. Provisions, Contingent Liabilities 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 recognised nor disclosed in the
financial statements.
Mar 31, 2012
A. Basis of Preparation of Financial Statement
The financial statements are prepared under the historical cost
convention in accordance with the generally accepted accounting
principles in India and the provisions of the Companies Act, 1956.
B. Use of Estimates
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 the financial statements and the reported
amount of revenues and expenses during the reporting period.
Differences between the actual results and estimates are recognised in
the period in which the results are known/materialised.
C. Own Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation and
impairment, if any. Direct Costs are capitalised until fixed assets are
ready for use.Capital work-in-progress comprises the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
D. Depreciation and Amortisation
Depreciation on fixed assets is provided on the written down value
method over the useful lives of assets estimated by the Managementat
the rates and in the manner prescribed in Schedule XIV of the Companies
Act, 1956.
E. Revenue Recognition
Revenue is recognized only when it can be reliably measured and it is
reasonable to expect ultimate collection. Dividend income is recognized
when right to receive is established. Interest income is recognized on
time proportion basis taking into account the amount outstanding and
rate applicable. Depreciation for assets purchased/sold during a
period is proportionately charged.
F. Impairment of Assets
As assets is treated as impaired when the carrying cost of assets
exceeds its recoverable value. An impairment loss is charged to the
Profit and Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognised in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
G. Investments
Current investmentsare carried at lower of cost and quoted/fair value
computed category wise. Long Term Investments are stated at cost.
Provision for dimunition in the value of long term investments is made
only if such a decline is other than temporary.
H. Inventories
Items of inventories are measured at lower of cost and net realisable
value after providing for obsolescence, if any. Cost of inventories
comprises cost of purchase, cost of conversion and other costs
including manufacturing overheads incurred in bringing them to their
respective present location and condition. Cost of raw materials,
stores and spares, packing materials trading and other products are
determined on weighted average basis. By-products are value at net
realisable value.
I. Employee Benefits
Short term employee benefits are recognised as an expense at the
undiscounted amountin the Profit and Loss Account of the year in which
the related servis rendered. Post employment and other long term
employee benefits are recognised as an expense in the Profit and Loss
Account for the year in which the employee has rendered services. t
J. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions
of Income Tax Act,1961. Deferred Tax resulting from "timing
difference" between taxable and acounting income is accounted for using
the tax rates and laws that enacted or substantially enacted as on the
balance sheet date. Deferred tax assets is recognized and carried
forward only to the extent that there is a virtual certainity that the
asset will be realised in future.
K. Provisions, Contingent Liabilities 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 recognised nor disclosed in the
financial statements.
Mar 31, 2011
A. BASIS OF ACCOUNTING:
The Financial Statements have been prepared under the Historical Cost
Convention and one on accrual basis.
B. INCOME RECOGNITION :
All revenues/incomes except Dividend, Interest on Debentures are
recognised on accrual basis of accounting.
C. PRINCIPAL ACCOUNTING POLICIES:
Accounting Policies, unless specifically stated to be otherwise, are
consistent and are in conso- nance with generally accepted accounting
principles. ,
D. GRATUITY:
The Company has taken Group Gratuity Policy from LIC of India for its
employees and contribution paid during the year has been charged to
Profit & Loss Account.
E. STOCK IN TRADE:
Stock in Trade are valued at lower of Cost and Market Value.
F. FIXED ASSETS :
Fixed Assets are stated at cost of acquisition less depreciation.
G. DEPRECIATION:
Depreciation has been provided on Straight Line Method at the rates
prescribed in Schedule XIV to the Companies Act, 1956.
H. CONTINGENT LIABILITIES;
Contingent liabilities are generally not provided for in the books of
accounts and are seperately shown in the Notes on Accounts.
Mar 31, 2010
A. BASIS OF ACCOUNTING:
The Financial Statements have been prepared under Historcal Cost
Convention and one of accrual basis.
B. INCOME RECOGNITION:
All revenuss/income except Dicidend, Interest on Debantures are
recognised on acconral basis of accounting.
C. PRINCIPAL ACCOUNTING POLICIES:
Accounting Poticies, unless specificalty stated to be otherwise, are
consistant and are in consonance with generally accepted accounting
principle.
D. GRATUTY:
The Company has taken Group Gratuity Policy from LIC of India for its
emplouees and contribution paid during the year has been charged to
Profit & Loss Account.
E. STOCK IN TRADE:
Stock in Trade are valued at lower of Cost and Market value.
F. FIXED ASSETS:
Fixed Assets are stated at cost of exquisition less depreciation.
G. DEPRECIATION:
Depreciatiom has been provided on Straight Line Mathod at the rates
prascribed in Schedule XIV to the Companies Act, 1958. Excapt Power
Projects on which no Depraciation has been charged.
H. CONTINGENT LIABILITIES:
Contingent liablities are generally not provided for in the books of
accounts and are seperaley shown in the Notes on Accounts.