Mar 31, 2015
(i) Basis of preparation:
These financial statements are prepared in accordance with the
Generally Accepted Accounting Principles (GAAP) on the historical cost
convention on the accrual basis. The GAAP comprises mandatory
Accounting Standards notified by the Companies (Accounts) Rules, 2014
and the relevant provisions of the Companies Act, 2013. The accounting
policies have been consistently applied.
(ii) Revenue recognition:
Sales of goods are recognized on dispatch of goods to customers, or
when substantial risks and rewards of ownership are transferred by the
Company. Sales are inclusive of excise duty and exclude sales tax/VAT.
(iii) Tangible fixed assets:
All fixed assets are carried at cost. The cost of fixed assets
includes expenses incidental to acquisition. Interest on specific
borrowings, obtained for the purposes of acquiring fixed assets is
capitalised upto the date of commissioning of the assets.
(iv) Capital work-in-progress:
Capital-work-in-progress is carried at cost. Cost comprises direct
costs, related incidental expenses and interest on borrowings.
(v) Investments:
Long term investments are valued at cost less provision for permanent
diminution in value of such investments.
(vi) Inventories:
Stores and spare parts are valued at cost. Process stock is valued at
estimated cost. Raw materials and traded goods are valued at cost or
market rate, whichever is lower. Finished product is valued at cost or
market rate whichever is lower.
(vii) Borrowing costs:
Borrowing costs attributable to the acquisition, construction or
production of qualifying assets are capitalized as part of the cost of
such assets. A qualifying asset is one that necessarily takes a
substantial period of time to get ready for its intended use. All
other borrowing costs are charged to statement of profit and loss.
(viii) Depreciation:
Depreciation is provided on all fixed assets (excluding furniture and
fixtures) on straight-line method and on furniture and fixtures on the
written down value method based on the useful life of the assets as
prescribed in the Schedule II to the Companies Act, 2013.
(ix) Deferred taxation:
Deferred tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantively enacted as on the balance sheet date.
Deferred tax assets are recognized only to the extent there is a
reasonable certainty of realization, except for unabsorbed
depreciation and business loss, in respect of which deferred tax is
recognized only if the Company is virtually certain of having
sufficient taxable income in future against which the
loss/depreciation can be set off.
(x) Impairment of assets:
Impairment loss, if any, is provided to the extent, the carrying
amount of assets exceeds their recoverable amount. Recoverable amount
is higher of an asset's net selling price and its value in use. Value
in use is the present value of estimated future cash flows expected to
arise from the continuing use of an asset and from its disposal at the
end of its useful life. Assessment is also done at each Balance Sheet
date as to whether there is any indication that an impairment loss
recognised for an asset in prior years may no longer exist or may have
decreased.
(xi) Provisions and contingent liabilities:
Provisions are recognised in respect of probable obligations, the
amount of which can be reliably estimated. Contingent liabilities are
disclosed in respect of possible obligations that arise from past
events but their existence is confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly
within the control of the Company.
(xii) Cash and cash equivalents:
Cash and cash equivalents include cash in hand, demand deposits with
banks, other short-term highly liquid investments with original
maturities of three months or less.
(xiii) Use of estimates:
The preparation of financial statements in accordance with the
generally accepted accounting principles requires the Management to
make estimates and assumptions that affect the reported amount of
assets and liabilities as of the date of financial statements and the
reported amount of incomes and expenses of the year. Actual results
could differ from these estimates. Any revision to such accounting
estimates is recognized in the accounting period in which such
revision takes place.
Mar 31, 2014
(i) Basis of preparation :
These financial statements are prepared in accordance with Generally
Accepted Accounting Principles (GAAP) on the historical cost convention
on the accrual basis. GAAP comprises mandatory accounting standards as
prescribed by the Companies (Accounting Standard) Rules, 2006,
provisions of the Companies Act, 1956 and guidelines issued by
Securities and Exchange Board of India (SEBI). Accounting polices have
been consistently applied.
The Company adopts accrual basis in the preparation of the accounts
except insurance claims and sales tax refunds.
(ii) Revenue recognition :
Sales of goods are recognized on dispatch of goods to customers, or
when substantial risks and rewards of ownership are transferred by the
Company. Sales are inclusive of excise duty and exclude sales tax/VAT.
(iii) Tangible fixed assets :
All fixed assets are carried at cost. The cost of fixed assets includes
expenses incidental to acquisition. Interest on specific borrowings,
obtained for the purposes of acquiring fixed assets is capitalised upto
the date of commissioning of the assets.
(iv) Capital work-in-progress :
Capital-work-in-progress is carried at cost. Cost comprises direct
costs, related incidental expenses and interest on borrowings.
(v) Investments :
Long term Investments are valued at cost less provision for permanent
diminution in value of such investments.
(vi) Inventories :
Stores and spare parts are valued at cost. Process stock is valued at
estimated cost. Raw materials and Traded goods are valued at cost or
market rate, whichever is lower. Finished product is valued at cost or
market rate whichever is lower. Plantations that have grown up and are
in saleable conditions (i.e. ready to sale) as on the balance sheet
date have been recognized as stock in trade and valued at market price.
(vii) Borrowing costs :
Borrowing costs attributable to the acquisition, construction or
production of qualifying assets are capitalized as part of the cost of
such assets. A qualifying asset is one that necessarily takes a
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to statement of profit and loss.
(viii) Depreciation :
Depreciation has been provided on all fixed assets (excluding furniture
and fixtures) on straight-line method and on furniture and fixtures on
the written down value basis at rates prescribed in Schedule XIV to the
Companies Act, 1956.
(ix) Retirement benefits :
The liability on account of gratuity and leave encashment is based on
actuarial valuation. The Company''s contribution to provident fund,
family pension fund and superannuation fund are charged to the
Statement of profit and loss as incurred.
(x) Deferred taxation :
Deferred tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantively enacted as on the balance sheet date.
Deferred tax assets are recognized only to the extent there is a
reasonable certainty of realization, except for unabsorbed depreciation
and business loss, in respect of which deferred tax is recognized only
if the Company is virtually certain of having sufficient taxable income
in future against which the loss/depreciation can be set off.
(xi) Impairment of assets :
Impairment loss, if any, is provided to the extent, the carrying amount
of assets exceeds their recoverable amount. Recoverable amount is
higher of an asset''s net selling price and its value in use. Value in
use is the present value of estimated future cash flows expected to
arise from the continuing use of an asset and from its disposal at the
end of its useful life.
(xii) Provisions and contingent liabilities :
Provisions are recognised in respect of probable obligations, the
amount of which can be reliably estimated. Contingent liabilities are
disclosed in respect of possible obligations that arise from past
events but their existence is confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the Company.
(xiii) Cash and Cash Equivalents :
Cash and cash equivalents include cash in hand, demand deposits with
banks, other short-term highly liquid investments with original
maturities of three months or less.
(xiv) Use of estimates :
The preparation of financial statements in accordance with the
generally accepted accounting principles requires the Management to
make estimates and assumptions that affect the reported amount of
assets and liabilities as of the date of financial statements and the
reported amount of expenses of the year. Actual results could differ
from these estimates. Any revision to such accounting estimates is
recognized in the accounting period in which such revision takes place.
Mar 31, 2013
(i) Basis of preparation :
These financial statements are prepared in accordance with Generally
Accepted Accounting Principles (GAAP) on the historical cost convention
on the accrual basis. GAAP comprises mandatory accounting standards as
prescribed by the Companies (Accounting Standard) Rules, 2006,
provisions of the Companies Act, 1956 and guidelines issued by
Securities and Exchange Board of India (SEBI). Accounting polices have
been consistently applied.
The Company adopts accrual basis in the preparation of the accounts
except insurance claims and sales tax refunds.
(ii) Revenue recognition :
Sales of goods are recognized on dispatch of goods to customers, or
when substantial risks and rewards of ownership are transferred by the
Company. Sales are inclusive of excise duty and exclude sales tax /
VAT.
(iii) Tangible fixed assets :
All fixed assets (including assets taken on hire purchase) are carried
at cost. The cost of fixed assets includes expenses incidental to
acquisition. Interest on specific borrowings, obtained for the purposes
of acquiring fixed assets is capitalised upto the date of commissioning
of the assets.
(iv) Capital work-in-progress :
Capital Work-in-progress is carried at cost. Cost comprises direct
costs, related incidental expenses and interest on borrowings.
(v) Investments :
Long term Investments are valued at cost less provision for permanent
diminution in value of such investments.
(vi) Inventories :
Stores and spare parts are valued at cost. Process stock is valued at
estimated cost. Raw materials are valued at cost or market rate,
whichever is lower. Finished product is valued at cost or market rate
whichever is lower. Plantations that have grown up and are in saleable
conditions (i.e. ready to sale) as on the balance sheet date have been
recognized as stock in trade and valued at market price.
(vii) Borrowing costs :
Borrowing costs attributable to the acquisition, construction or
production of qualifying assets are capitalized as part of the cost of
such assets. A qualifying asset is one that necessarily takes a
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to revenue.
(viii)Depreciation :
Depreciation has been provided on all fixed assets (excluding furniture
and fixtures) on straight-line method and on furniture and fixtures on
the written down value basis at rates prescribed in Schedule XIV to the
Companies Act, 1956.
(ix) Retirement benefits :
The liability on account of gratuity and leave encashment is based on
actuarial valuation. The Company''s contribution to provident fund,
family pension fund and superannuation fund are charged to the
Statement of profit and loss as incurred.
(x) Deferred taxation :
Deferred tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantively enacted as on the balance sheet date.
Deferred tax assets are recognized only to the extent there is a
reasonable certainty of realization, except for unabsorbed depreciation
and business loss, in respect of which deferred tax is recognized only
if the Company is virtually certain of having sufficient taxable income
in future against which the loss/depreciation can be set off.
(xi) Impairment of assets :
Impairment loss, if any, is provided to the extent, the carrying amount
of assets exceeds their recoverable amount. Recoverable amount is
higher of an asset''s net selling price and its value in use. Value in
use is the present value of estimated future cash flows expected to
arise from the continuing use of an asset and from its disposal at the
end of its useful life.
(xii) Provisions and contingent liabilities :
Provisions are recognised in respect of probable obligations, the
amount of which can be reliably estimated. Contingent liabilities are
disclosed in respect of possible obligations that arise from past
events but their existence is confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the Company.
(xiii)Use of estimates :
The preparation of financial statements in accordance with the
generally accepted accounting principles requires the Management to
make estimates and assumptions that affect the reported amount of
assets and liabilities as of the date of financial statements and the
reported amount of expenses of the year. Actual results could differ
from these estimates. Any revision to such accounting estimates is
recognized in the accounting period in which such revision takes place.
Mar 31, 2012
(i) Basis of preparation :
These financial statements are prepared in accordance with Generally
Accepted Accounting Principles (GAAP) on the historical cost convention
on the accrual basis. GAAP comprises mandatory accounting standards as
prescribed by the Companies (Accounting Standard) Rules, 2006,
provisions of the Companies Act, 1956 and guidelines issued by
Securities and Exchange Board of India (SEBI). Accounting polices have
been consistently applied.
The Company adopts accrual basis in the preparation of the accounts
except insurance claims and sales tax refunds.
(ii) Revenue recognition :
Sales of goods are recognized on dispatch of goods to customers, or
when substantial risks and rewards of ownership are transferred by the
Company. Sales are inclusive of excise duty and exclude sales tax/VAT.
(iii) Tangible fixed assets :
All fixed assets (including assets taken on hire purchase) are carried
at cost. The cost of fixed assets includes expenses incidental to
acquisition. Interest on specific borrowings, obtained for the purposes
of acquiring fixed assets is capitalised upto the date of commissioning
of the assets.
(iv) Capital work-in-progress :
Capital Work-in-progress is carried at cost. Cost comprises direct
costs, related incidental expenses and interest on borrowings.
(v) Investments :
Long term Investments are valued at cost less provision for permanent
diminution in value of such investments.
(vi) Inventories :
Stores and spare parts are valued at cost. Process stock is valued at
estimated cost. Raw materials are valued at cost or market rate,
whichever is lower. Finished product is valued at cost or market rate
whichever is lower. Plantations that have grown up and are in saleable
conditions (i.e. ready to sale) as on the balance sheet date have been
recognized as stock in trade and valued at market price.
(vii) Borrowing costs :
Borrowing costs attributable to the acquisition, construction or
production of qualifying assets are capitalized as part of the cost of
such assets. A qualifying asset is one that necessarily takes a
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to revenue.
(viii) Depreciation :
Depreciation has been provided on all fixed assets (excluding furniture
and fixtures) on straight-line method and on furniture and fixtures on
the written down value basis at rates prescribed in Schedule XIV to the
Companies Act, 1956.
(ix) Retirement benefits :
The liability on account of gratuity and leave encashment is based on
actuarial valuation. The Company's contribution to provident fund,
family pension fund and superannuation fund are charged to the
Statement of profit and loss as incurred.
(x) Deferred taxation :
Deferred tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantively enacted as on the balance sheet date.
Deferred tax assets are recognized only to the extent there is a
reasonable certainty of realization, except for unabsorbed depreciation
and business loss, in respect of which deferred tax is recognized only
if the Company is virtually certain of having sufficient taxable income
in future against which the loss/depreciation can be set off.
(xi) Impairment of assets :
Impairment loss, if any, is provided to the extent, the carrying amount
of assets exceeds their recoverable amount. Recoverable amount is
higher of an asset's net selling price and its value in use. Value in
use is the present value of estimated future cash flows expected to
arise from the continuing use of an asset and from its disposal at the
end of its useful life.
(xii) Provisions and contingent liabilities :
Provisions are recognised in respect of probable obligations, the
amount of which can be reliably estimated. Contingent liabilities are
disclosed in respect of possible obligations that arise from past
events but their existence is confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the company.
(xiii) Use of estimates :
The preparation of financial statements in accordance with the
generally accepted accounting principles requires the Management to
make estimates and assumptions that affect the reported amount of
assets and liabilities as of the date of financial statements and the
reported amount of expenses of the year. Actual results could differ
from these estimates. Any revision to such accounting estimates is
recognized in the accounting period in which such revision takes place.
Mar 31, 2011
The accounts have been prepared in accordance with the accounting
principles generally accepted in India and are in line with the
relevant provisions of the Companies Act, 1956.
(i) Basis of Accounting:
The financial statements are prepared to comply in all material aspects
with all the applicable accounting principles in India, the applicable
Accounting Standards notified u/s 211(3C) of the Companies Act, 1956
and relevant provisions of the Companies Act, 1956.
The Company adopts accrual basis in the preparation of the accounts
except insurance claims and sales tax refunds.
(ii) Fixed Assets:
All fixed assets are carried at cost. The cost of fixed assets includes
expenses incidental to acquisition. Interest on specific borrowings,
obtained for the purposes of acquiring fixed assets is capitalized upto
the date of commissioning of the assets.
(iii) Capital Work-in-progress:
Capital Work-in-progress is carried at cost, comprising of direct cost,
related incidental expenses and interest on borrowings there against.
(iv) Investments:
Long Term Investments are valued at cost less provision for permanent
diminution (if any) in the value of such investments.
(v) Inventories:
Stores and spare parts are valued at cost. Process stock is valued at
estimated cost. Raw materials are valued at cost or market rate,
whichever is lower. Finished products are valued at cost or market rate
whichever is lower. Plantations that have grown up and are in saleable
condition (i.e. ready to sale) as on the balance sheet date have been
recognized as stock in trade and valued at market rate.
(vi) Revenue Recognition:
Sales of goods are recognized on dispatch of goods to customers, or
when substantial risks and rewards of ownership are transferred by the
Company. Sales are inclusive of excise duty and exclude sales tax/VAT.
(vii) Borrowing Costs:
Borrowing costs attributable to the acquisition, construction or
production of qualifying assets are considered as part of the cost of
such assets. A qualifying asset is one that necessarily takes a
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to revenue.
(viii)Depreciation:
Depreciation has been provided on all fixed assets (excluding
Furniture, Fixtures and Equipments) on straight-line method and on
Furniture, Fixtures and Equipments on the written down value basis at
rates prescribed in Schedule XIV to the Companies Act, 1956. However,
in respect of assets impaired, the depreciation has been provided on
straight line basis based on revised carrying amount of the assets
consequent upon impairment.
(ix) Retirement Benefits:
The liability on account of gratuity and leave encashment is based on
actuarial valuation.
(x) Deferred Taxation:
Deferred Tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantively enacted as on the Balance Sheet date.
Deferred Tax Assets are recognized only to the extent there is a
reasonable certainty of realization, except for unabsorbed depreciation
and business loss, in respect of which deferred tax asset is recognized
only if the Company is virtually certain of having sufficient taxable
income in future against which the loss/depreciation can be set off.
(xi) Impairment of Assets:
Impairment loss, if any, is provided to the extent, the carrying amount
of assets exceeds their recoverable amount. Recoverable amount is
higher of an asset's net selling price and its value in use. Value in
use is the present value of estimated future cash flows expected to
arise from the continuing use of an asset and from its disposal at the
end of its useful life.
(xii) Provisions & Contingent Liabilities:
Provisions are recognised in respect of probable obligations, the
amount of which can be reliably estimated. Contingent liabilities are
disclosed in respect of possible obligations that arise from past
events but their existence is confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the company.
(xiii)Use of Estimates:
The preparation of financial statements in accordance with the
generally accepted accounting principles requires the Management to
make estimates and assumptions that affect the reported amount of
assets and liabilities as of the date of financial statements and the
reported amount of expenses of the year. Actual results could differ
from these estimates. Any revision to such accounting estimates is
recognized in the accounting period in which such revision takes place.
Mar 31, 2010
The accounts have been prepared in accordance with the accounting
principles generally accepted in India and are in line with the
relevant provisions of the Companies Act, 1956.
(i) System of Accounting:
The Company adopts the accrual basis in the preparation of the accounts
except insurance claims and sales tax refunds.
(ii) Fixed Assets:
All fixed assets are carried at cost. The cost of fixed assets includes
expenses incidental to acquisition. Interest on specific borrowings,
obtained for the purposes of acquiring fixed assets is capitalized upto
the date of commissioning of the assets.
(iii) Capital Work-in-progress:
Capital Work-in-progress is carried at cost, comprising of direct cost,
related incidental expenses and interest on borrowings there against.
(iv) Investments:
Long Term Investments are valued at cost less provision for permanent
diminution (if any) in the value of such investments.
(v) Inventories:
Stores and spare parts are valued at cost. Process stock is valued at
estimated cost. Raw materials are valued at cost or market rate,
whichever is lower. Finished products are valued at cost or market rate
whichever is lower. Plantations that have grown up and are in saleable
condition (i.e. ready to sale) as on the balance sheet date have been
recognized as stock in trade and valued at market rate.
(vi) Revenue Recognition:
Sales of goods are recognized on dispatch of goods to customers, or
when substantial risks and rewards of ownership are transferred by the
Company. Sales are inclusive of excise duty and exclude sales tax.
(vii) Borrowing Costs:
Borrowing costs attributable to the acquisition, construction or
production of qualifying assets are considered as part of the cost of
such assets. A qualifying asset is one that necessarily takes a
substantial period of time to get ready for its intended use. All other
borrowing costs are charged to revenue.
(viii) Depreciation:
Depreciation has been provided on all fixed assets (excluding
Furniture, Fixtures and Equipments) on straight- line method and on
Furniture, Fixtures and Equipments on the written down value basis at
rates prescribed in Schedule XlVto the Companies Act, 1956.
(ix) Retirement Benefits:
The liability on account of gratuity and leave encashment is based on
acturial valuation.
(x) Deferred Taxation:
Deferred Tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantively enacted as on the Balance Sheet date.
Deferred Tax Assets are recognized only to the extent there is a
reasonable certainty of realization, except for unabsorbed depreciation
and business loss, in respect of which deferred tax asset is recognized
only if the Company is virtually certain of having sufficient taxable
income in future against which the loss/depreciation can be set off.
(xi) Impairment of Assets:
Impairment loss, if any, is provided to the extent, the carrying amount
of assets exceeds their recoverable amount. Recoverable amount is
higher of an assets net selling price and its value in use. Value in
use is the present value of estimated future cash flows expected to
arise from the continuing use of an asset and from its disposal at the
end of its useful life.
(xii) Provisions & Contingent Liabilities:
Provisions are recognised in respect of probable obligations, the
amount of which can be reliably estimated. Contingent liabilities are
disclosed in respect of possible obligations that arise from past
events but their existence is confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the company.
(xiii) Miscellaneous Expenditure (to the extent not written off
or adjusted):
Retirement Compensation paid to workers is treated as deferred
revenue expenditure and amortised over a period Five Years.