Mar 31, 2015
1. Basis of preparation (i) These financial statements have been
prepared to comply with the Generally Accepted Accounting Principles in
India (Indian GAAP), including the Accounting Standard notified under
the relevant provisions of the Companies Act, 2013. The financial
statements are prepared on accrual basis under the historical cost
convention. (ii) The preparation of financial statement in conformity
with generally accepted accounting principles in India requires
management to make estimates and assumptions that affect the reported
amount of assets and liabilities and the disclosure of contingent
liabilities on the date of financial statements and reported amounts of
income and expenses during the period.
2. Fixed Assets (i) Fixed Assets are stated at cost (including
adjustments on revaluation) less accumulated depreciation.
Cost of acquisition is inclusive of freight, duties and other
incidental expenses incurred during construction period and exclusive
of cenvat credit availed thereon.
(ii) Assets under erection/installation are shown as "Capital
work-in-progress" and advance given for capital expenditure are shown
as "Capital advances" under the head as long term loans ans advances.
Expenditure during construction period are shown as "pre-operative
expenses" to be capitalized on erection/installation of the assets.
(iii) The carrying amount of assets is reviewed at each balance sheet
date for any indication of impairment based on internal & external
factors. An impairment loss is recognized wherever the carrying amount
of an asset exceeds its recoverable amount and is charged to the Profit
& Loss account in the year of identification as an impaired asset. The
impairment loss recognized in prior accounting periods is reversed if
there is a change in the estimate of recoverable amount.
3. Depreciation
(iii) Depreciation on Fixed Assets is provided to the extent of
depreciable amount on the Written Down Value (WDV) Method. Depreciation
is provided based on useful life of the assets as prescribed in
Schedule II to the Companies Act, 2013 except in respect of the
leasehold improvements, where useful life is taken as per lease
period. Depreciation on assets sold, discarded, demolished or scrapped,
is provided up to the date on which the said asset is sold, discarded,
demolished or scrapped.
4. Foreign Currency Transactions
(i) Transactions denominated in foreign currencies are normally
recorded at the exchange rate prevailing at the time of the
transaction.
(ii) Foreign currency transactions remaining unsettled till the
finalization of accounts of the year are translated at contracted
rates, when covered by forward exchange contracts and at year end
rates, in all other cases.
5. Investments
(i) Investments are either classified as current or non-current based
on the management intention at the time of purchase.
(ii) Current Investment are carried at the lower of cost or market
value. The comparison of cost and market value is done separately in
respect of each category of investments.
(iii) Long term investments are carried at cost less any permanent
diminution in value, determined separately for each individual
investments. The reduction in the carrying amount is reversed when
there is rise in the value of investments or if the reason for the
reduction no longer exist.
6. Stock
(i) Closing stock of Finished Goods is stated at lower of the cost or
net realizable value on FIFO Basis.
(ii) Raw Materials are valued at Cost.
7. Sales tax VAT collected by the Company is not treated as part of
its income.
8. Contingent Liability Contingent Liability, if any, are generally
not provided for in the accounts and is shown separately as a note to
the accounts.
9. Taxation
(i) Provision for current Tax is made and retained in the accounts on
the basis of estimated tax liability as per the applicable provisions
of the Income tax Act, 1961 and considering assessment orders and
decisions of appellate authorities in Company's case.
(ii) Deferred tax for timing differences between tax profits and book
profits is accounted for using the tax rates and laws that have been
enacted or substantially enacted as of the balance sheet date.
10. Earnings Per Share
The basic earnings per share (EPS) is computed by dividing the net
profit after tax for the year by the weighted average number of equity
shares outstanding during the current year. For the purpose of
calculating diluted earnings per share, net profit after tax and the
weighted number of equity shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
11 . Financial Derivatives & Commodity Hedging Transactions
(i) Financial derivatives and commodity hedging contracts are accounted
on the date of their settlement and realized gain/loss in respect of
settled contracts are recognized in the profit & loss account. (ii)
The unrealized loss on contracts outstanding at the yearend are
provided for in the books of account of the Company.
Mar 31, 2014
1. Basis of preparation
(i) The financial statements have been prepared in accordance with
generally accepted accounting principles in India (Indian GAAP) and
presented under the historical cost convention on accrual basis of
accounting to comply with the accounting standards prescribed in the
Companies (Accounting Standards) Rules, 2006 and with the relevant
provisions of the Companies Act, 1956.
(ii) The preparation of financial statement in conformity with
generally accepted accounting principles in India requires management
to make estimates and assumptions that affect the reported amount of
assets and liabilities and the disclosure of contingent liabilities on
the date of financial statements and reported amounts of income and
expenses during the period.
2. Fixed Assets
(i) Fixed Assets are stated at cost (including adjustments on
revaluation) less accumulated depreciation. Cost of acquisition is
inclusive of freight, duties and other incidental expenses incurred
during construction period and exclusive of cenvat credit availed
thereon.
(ii) Assets under erection/installation are shown as "Capital
work-in-progress" and advance given for capital expenditure are shown
as "Capital advances" under the head as long term loans ans
advances. Expenditure during construction period are shown as
"pre-operative expenses" to be capitalized on erection/installation
of the assets.
(iii) The carrying amount of assets is reviewed at each balance sheet
date for any indication of impairment based on internal & external
factors. An impairment loss is recognized wherever the carrying amount
of an asset exceeds its recoverable amount and is charged to the Profit
& Loss account in the year of identification as an impaired asset. The
impairment loss recognized in prior accounting periods is reversed if
there is a change in the estimate of recoverable amount.
3. Depreciation
(iii) The depreciation on fixed assets has been provided on written
down value method on Pro rata basis with reference to the date of
addition/disposal at the rates specified in Schedule XIV of the
Companies Act, 1956.
4. Foreign Currency Transactions
a) Transactions denominated in foreign currencies are normally recorded
at the exchange rate prevailing at the time of the transaction.
b) Foreign currency transactions remaining unsettled till the
finalisation of accounts of the year are translated at contracted
rates, when covered by forward exchange contracts and at year end
rates, in all other cases.
5. Investments
(i) Investments are either classified as current or non-current based
on the management intention at the time of purchase.
(ii) Current Investment are carried at the lower of cost or market
value. The comparison of cost and market value is done separately in
respect of each category of investments.
(iii) Long term investments are carried at cost less any permanent
diminution in value, determined separately for each individual
investments. The reduction in the carrying amount is reversed when
there is rise in the value of investments or if the reason for the
reduction no longer exist.
6. Stock
a. Closing stock of Finished Goods is stated at lower of the cost or
net realisable value on FIFO Basis.
b. Raw Materials are valued at Cost.
c. Stores items purchased during the year are treated as consumed.
7. Sales tax
VAT collected by the Company is not treated as part of its income.
8. Contingent Liability
Contingent Liability, if any, are generally not provided for in the
accounts and is shown separately as a note to the accounts.
9. Taxation
a. Provision for current Tax is made and retained in the accounts on
the basis of estimated tax liability as FOR THE YEAR ENDED 31ST MARCH,
2014 per the applicable provisions of the Income tax Act, 1961 and
considering assessment orders and decisions of appellate authorities in
Company''s case. b. Deferred tax for timing differences between tax
profits and book profits is accounted for using the tax rates and laws
that have been enacted or substantially enacted as of the balance sheet
date.
10. Earning Per Share
The basic earning per share (EPS) is computed by dividing the net
profit after tax for the year by the weighted average number of equity
shares outstanding during the current year. For the purpose of
calculating diluted earning per share, net profit after tax and the
weighted number of equity shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
11. Financial Derivatives & Commodity Hedging Transactions
a. Financial derivatives and commodity hedging contracts are accounted
on the date of their settlement and realised gain/loss in respect of
settled contracts are recognised in the profit & loss account.
b. The unrealised loss on contracts outstanding at the year end are
provided for in the books of account of the Company.
12. Leases
Lease rentals for operating leases are charged to statement of profit
and loss on accrual basis in accordance with the respective lease
agreements.
Mar 31, 2013
1. Basis of preparation
(i) The financial statements have been prepared in accordance with
generally accepted accounting principles in India (Indian GAAP) and
presented under the historical cost convention on accrual basis of
accounting to comply with the accounting standards prescribed in the
Companies (Accounting Standards) Rules,2006 and with the relevant
provisions of the Companies Act, 1956.
(ii) The preparation of financial statement in conformity with
generally accepted accounting principles in India requires management
to make estimates and assumptions that affect the reported amount of
assets and liabilities and the disclosure of contingent liabilities on
the date of financial statements and reported amounts of income and
expenses during the period.
2. Fixed Assets
(i) Fixed Assets are stated at cost (including adjustments on
eevaluation) less accumulated depreciation. Cost of acquisition is
inclusive of freight, duties and other incidental expenses incurred
during construction period and exclusive of cenvat credit availed
thereon. (ii) Assets under erection/installation are shown as "Capital
work-in-progress" and advance given for capital expenditure are shown
as "Capital advances" under the head as long term loans and advances.
Expenditure during construction period are shown as "pre-operative
expenses" to be capitalized on erection/installation of the assets.
(iii) The depreciation on fixed assets has been provided on written
down value method on Pro rata basis with reference to the date of
addition/disposal at the rates specified in Schedule XIV of the
Companies Act, 1956. (iv) The carrying amount of assets is reviewed at
each balance sheet date for any indication of impairment based on
internal & external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its recoverable amount and is
charged to the Profit & Loss account in the year of identification as
an impaired asset. The impairment loss recognized in prior accounting
periods is reversed if there is a change in the estimate of recoverable
amount.
3. Foreign Currency Transactions
a) Transactions denominated in foreign currencies are normally recorded
at the exchange rate prevailing at the time of the transaction.
b) Foreign currency transactions remaining unsettled till the
finalisation of accounts of the year are translated at contracted
rates, when covered by forward exchange contracts and at year end
rates, in all other cases.
4. Investments
(i) Investments are either classified as current or non-current based
on the management intention at the time of purchase. (ii) Current
Investment are carried at the lower of cost or market value. The
comparison of cost and market value is done separately in respect of
each category of investments. (iii) Long term investments are carried
at cost less any permanent diminution in value, determined separately
for each individual investments. The reduction in the carrying amount
is reversed when there is rise in the value of investments or if the
reason for the reduction no longer exist.
5. Stock
a) Closing stock of Finished Goods is stated at lower of the cost or
net realisable value on FIFO Basis.
b) Raw Materials are valued at Cost.
c) Stores items purchased during the year are treated as consumed.
6. Sales tax
VAT collected by the Company is not treated as part of its income.
7. Contingent Liability
Contingent Liability, if any, are generally not provided for in the
accounts and is shown separately as a note to the accounts.
8. Taxation
a) Provision for current Tax is made and retained in the accounts on
the basis of estimated tax liability as per the applicable provisions
of the Income tax Act, 1961 and considering assessment orders and
decisions of appellate authorities in Company''s case.
b) Deferred tax for timing differences between tax profits and book
profits is accounted for using the tax rates and laws that have been
enacted or substantially enacted as of the balance sheet date.
9. Earning Per Share
The basic earning per share (EPS) is computed by dividing the net
profit after tax for the year by the weighted average number of equity
shares outstanding during the current year. For the purpose of
calculating diluted earning per share, net profit after tax and the
weighted number of equity shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
10. Financial Derivatives & Commodity Hedging Transactions
a. Financial derivatives and commodity hedging contracts are accounted
on the date of their settlement and realised gain/loss in respect of
settled contracts are recognised in the profit & loss account.
b. The unrealised loss on contracts outstanding at the year end are
provided for in the books of account of the Company.
11. Leases
Lease rentals for operating leases are charged to statement of profit
and loss on accrual basis in accordance with the respective lease
agreements.
Mar 31, 2012
1.1 Basis of preparation
(i) The financial statements have been prepared in accordance with
generally accepted accounting principles in India (Indian GAAP) and
presented under the historical cost convention on accrual basis of
accounting to comply with the accounting standards prescribed in the
Companies (Accounting Standards) Rules, 2006 and with the relevant
provisions of the Companies Act, 1956.
(ii) The preparation of financial statement in conformity with
generally accepted accounting principles in India requires management
to make estimates and assumptions that affect the reported amount of
assets and liabilities and the disclosure of contingent liabilities on
the date of financial statements and reported amounts of income and
expenses during the period.
1.2 Fixed Assets
(i) Fixed Assets are stated at cost (including adjustments on
revaluation) less accumulated depreciation.
Cost of acquisition is inclusive of freight, duties and other
incidental expenses incurred during construction period and exclusive
of cenvat credit availed thereon.
(ii) Assets under erection/installation are shown as "Capital
work-in-progress" and advance given for capital expenditure are shown
as "Capital advances" under the head as long term loans ans advances.
Expenditure during construction period are shown as "pre-operative
expenses" to be capitalized on erection/installation of the assets.
(iii) The depreciation on fixed assets has been provided on written
down value method on Pro rata basis with reference to the date of
addition/disposal at the rates specified in Schedule XIV of the
Companies Act, 1956.
(iv) The carrying amount of assets is reviewed at each balance sheet
date for any indication of impairment based on internal & external
factors. An impairment loss is recognized wherever the carrying amount
of an asset exceeds its recoverable amount and is charged to the Profit
& Loss account in the year of identification as an impaired asset. The
impairment loss recognized in prior accounting periods is reversed if
there is a change in the estimate of recoverable amount.
1.3 Foreign Currency Transactions
a) Transactions denominated in foreign currencies are normally recorded
at the exchange rate prevailing at the time of the transaction.
b) Foreign currency transactions remaining unsettled till the
finalisation of accounts of the year are translated at contracted
rates, when covered by forward exchange contracts and at year end
rates, in all other cases.
1.4 Investments
(i) Investments are either classified as current or non-current based
on the management intention at the time of purchase.
(ii) Current Investment are carried at the lower of cost or market
value. The comparison of cost and market value is done separately in
respect of each category of investments.
(iii) Long term investments are carried at cost less any permanent
diminution in value, determined separately for each individual
investments. The reduction in the carrying amount is reversed when
there is rise in the value of investments or if the reason for the
reduction no longer exist.
1.5 Stock
a) Closing stock of Finished Goods is stated at lower of the cost or
net realisable value on FIFO Basis.
b) Raw Materials are valued at Cost.
c) Stores items purchased during the year are treated as consumed.
1.6 Sales tax
VAT collected by the Company is not treated as part of its income.
1.7 Contingent Liability
Contingent Liability, if any, are generally not provided for in the
accounts and is shown separately as a note to the accounts.
1.8 Taxation
a) Provision for current Tax is made and retained in the accounts on
the basis of estimated tax liability as per the applicable provisions
of the Income tax Act, 1961 and considering assessment orders and
decisions of appellate authorities in Company's case.
b) Deferred tax for timing differences between tax profits and book
profits is accounted for using the tax rates and laws that have been
enacted or substantially enacted as of the balance sheet date.
1.9 Earning Per Share
The basic earning per share (EPS) is computed by dividing the net
profit after tax for the year by the weighted average number of equity
shares outstanding during the current year. For the purpose of
calculating diluted earning per share, net profit after tax and the
weighted number of equity shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
1.10 Financial Derivatives & Commodity Hedging Transactions
a. Financial derivatives and commodity hedging contracts are accounted
on the date of their settlement and realised gain/loss in respect of
settled contracts are recognised in the profit & loss account.
b. The unrealised loss on contracts outstanding at the year end are
provided for in the books of account of the Company in accordance with
the guidance note on Accounting for Equity Index & Equity Stock Futures
and Options issued by the Chartered Accountants of India.
Mar 31, 2011
I) The financial accounts are prepared under the historical cost
convention on a going concern basis. The accounting policies not
specifically mentioned are consistent with generally accepted
accounting principles.
ii) All items of income and expenditure are accounted for on accrual
basis.
iii) Depreciation
The depreciation on fixed assets has been provided on Written Down
Value Method on Pro rata basis at the rates specified in Schedule XIV
of the Companies Act, 1956. Leasehold land is being amortised over the
leased a period of lease of 15 years.
iv) Foreign Currency Transactions
a) Transactions denominated in foreign currencies are normally recorded
at the exchange rate prevailing at the time of the transaction.
b) Foreign currency transactions remaining unsettled till the
finalisation of accounts of the year are translated at contracted
rates, when covered by forward exchange contracts and at year end
rates, in all other cases.
v) Investments
Investments are stated at cost.
vi) Stock
a) Closing stock of Finished Goods is stated at lower of the cost or
net realisable value on FIFO Basis
b) Raw Materials are valued at Cost.
c) Stores items purchased during the year are treated as consumed.
vii) Sales tax
VAT collected by the Company is not treated as part of its income.
viii)Contingent Liability
Contingent Liability, if any, are generally not provided for in the
accounts and is shown separately as a note to the accounts.
ix) Taxation
a) Provision for current Tax is made and retained in the accounts on
the basis of estimated tax liability as per the applicable provisions
of the Income tax Act, 1961 and considering assessment orders and
decisions of appellate authorities in Company's case.
b) Deferred tax for timing differences between tax profits and book
profits is accounted for using the tax rates and laws that have been
enacted or substantially enacted as of the balance sheet date.
x) Financial Derivatives & Commodity Hedging Transactions
a. Financial derivatives and commodity hedging contracts are accounted
on the date of their settlement and realised gain/loss in respect of
settled contracts are recognised in the profit & loss account.
x) b. The unrealised loss on contracts outstanding at the year end are
provided for in the books of account of the Company in accordance with
the guidance note on Accounting for Equity Index & Equity Stock Futures
and Options issued by the Chartered Accountants of India.
Mar 31, 2010
I) The financial accounts are prepared under the historical cost
convention on a going concern basis. The accounting policies not
specifically mentioned are consistent with generally accepted
accounting principles.
ii) All items of income and expenditure are accounted for on accrual
basis.
iii) Depreciation
The depreciation on fixed assets has been provided on Straight Line
Method on Pro rata basis at the rates specified in Schedule XIV of the
Companies Act, 1956.
iv) Foreign Currency Transactions
a) Transactions denominated in foreign currencies are normally recorded
at the exchange rate prevailing at the time of the transaction.
b) Foreign currency transactions remaining unsettled till the
finalisation of accounts of the year are translated at contracted
rates, when covered by forward exchange contracts and at year end
rates, in all other cases.
v) Investments
Investments are stated at cost.
vi) Stock
a) Closing stock is stated at lower of the cost or net realisable value
b) Stores items purchased during the year are treated as consumed.
vii) Sales tax VAT collected by the Company is not treated as part of
its income.
viii)Contingent Liability
Contingent Liability, if any, are generally not provided for in the
accounts and is shown separately as a note to the accounts.
ix) Taxation
a) Provision for current Ta x is made and retained in the accounts on
the basis of estimated tax liability as per the applicable provisions
of the Income tax Act, 1961 and considering assessment orders and
decisions of appellate authorities in Companys case.
b) Deferred tax for timing differences between tax profits and book
profits is accounted for using the tax rates and laws that have been
enacted or substantially enacted as of the balance sheet date.