Mar 31, 2014
A) Accounting Assumptions:
The accounts have been prepared under the historical cost convention on
the basis of a going concern, with revenues recognized and expenses
accounted on their accrual, including provisions/adjustments for
committed obligations and amounts determined as payables or receivables
during the year.
b) Fixed Assets:
Fixed assets are stated at historical costs, which include freight,
installation cost, duties, taxes and otherdirect/incidental expenses.
c) Depreciation:
i) On the fixed assets, other than quarries, put to use depreciation
has been provided on quarterly basis on straight line method as per
ammended Schedule XIV of the Companies Act- 1956.
ii) Depreciation on quarries, owing to depletion, is charged taking the
life of each quarry estimated at 30 years.
d) Inventories:
i) Raw materials, stores, consumables, spares, tools and packing
materials are valued at weighted average cost.
ii) Finished and Processed goods are valued at total cost (excluding
selling expenses, interest & finance charges) or net realizable value
whichever is lower.
e) Foreign Currency transactions:
i) Export sales are accounted at the exchange rates prevailing as on
the dates of sale. Gains/loss arising out of fluctuations in the
exchange rates has been treated as income/expenditure, on realization.
ii) Imports of consumables, spares etc., are accounted at the rates
actually paid for.
f) Gratuity
Gratuity is accounted for based on the assumption that it becomes
payable only at the end of accounting year to all the entitled
employees.
g) Impairment of Assets
The carrying amount of assets are reviewed at each Balance Sheet date
if there is any indication of impairment based on internal/external
factors. An asset is impaired when the carrying amount of the asset
exceeds the recoverable amount. An Impairment loss is charged to the
statement of profit and loss in the year in which the asset is
identified as impaired. Impairment losses recognised in prior
accounting periods are reversed if there has been any change in the
estimate of the recoverable amount.
Rights attached to equity shares:
The Company has only one class of equity shares having a face value of
Rs. 101- per share with one vote per each equity share.
The Company declares and pays dividends in indian rupees as and when
proposed by the Board of Directors which is subject to the approval of
the shareholders in the ensuing Annual General Meeting.
Mar 31, 2013
A) Accounting Assumptions:
The accounts have been prepared under the historical cost convention on
the basis of a going concern, with revenues recognized and expenses
accounted on their accrual, including provisions/adjustments for
committed obligations and amounts determined as payables or receivables
during the year.
b) Fixed Assets:
Fixed assets are stated at historical costs, which include freight,
installation cost, duties, taxes and other direct / incidental
expenses.
c) Depreciation:
i) On the fixed assets, other than quarries, put to use depreciation
has been provided on quarterly basis on straight line method as per
ammended Schedule XIV of the Companies Act-1956.
ii) Depreciation on quarries, owing to depletion, is charged taking the
life of each quarry estimated at 30 years.
d) Inventories:
i) Raw materials, stores, consumables, spares, tools and packing
materials are valued at weighted average cost. ii) Finished and
Processed goods are valued at total cost (excluding selling expenses,
interest & finance charges) or net realizable value whichever is lower.
e) Foreign Currency transactions:
i) Export sales are accounted at the exchange rates prevailing as on
the dates of sale. Gains/loss arising out of fluctuations in the
exchange rates has been treated as income/ expenditure, on realization.
ii) Imports of consumables, spares etc., are accounted at the rates
actually paid for.
f) Gratuity
Gratuity is accounted for based on the assumption that it becomes
payable only at the end of accounting year to all the entitled
employees.
g) Impairment of Assets
The carrying amount of assets are reviewed at each Balance Sheet date
if there is any indication of impairment based on internal/external
factors. An asset is impaired when the carrying amount of the asset
exceeds the recoverable amount. An Impairment loss is charged to the
statement of profit and loss in the year in which the asset is
identified as impaired. Impairment losses recognised in prior
accounting periods are reversed if there has been any change in the
estimate of the recoverable amount.
Mar 31, 2011
A) Accounting Assumptions:
The accounts have been prepared under the historical cost convention on
the basis of a going concern, with revenues recognized and expenses
accounted on their accrual. including provisions/adjustments for
committed obligations and amounts determined as payables or receivables
during the year.
b) Fixed Assets:
i) On the fixed assets, other than quarries, put to use depreciation
has been provided on quarterly basis on straight line method as per the
amended Schedule XIV of the Companies Act- 1956.
ii) Depreciation on quarries, owing to depletion, is charged taking the
life of each quarry estimated at 30 years.
iii) Fixed assets are stated at historical costs, which include
freight, installation cost, duties, taxes and other direct / incidental
expenses.
c) Inventories:
i) Raw materials, stores, consumables, spares, tools and packing
materials are valued at weighted average cost.
ii) Finished and Processed goods are valued at total cost (excluding
selling expenses, interest & finance charges) or net realizable value
whichever is lower.
d) Foreign Currency transactions:
i) Export sales are accounted at the exchange rates prevailing as on
the dates of sale. Gain/loss arising out of fluctuations in the
exchange rates has been treated as income/ expenditure, on realization.
ii) Imports of consumables, spares etc., are accounted at the rates
actually paid for.
e) Gratuity
Gratuity is accounted for based on the assumption that it becomes
payable only at the end of accounting year to all the entitled
employees.
Mar 31, 2010
A) Accounting Assumptions:
The accounts have been prepared under the historical cost convention on
the basis of a going concern, with revenues recognized and expenses
accounted on their accrual, including provisions/adjustments for
committed obligations and amounts determined as payables or receivables
during the year.
b) Fixed Assets:
i) On the fixed assets, other than quarries, put to use depreciation
has been provided on quarterly basis on straight line method as per the
amended Schedule XIV of the Companies Act- 1956.
ii) Depreciation on quarries, owing to depletion, is charged taking the
life of each quarry estimated at 30 years.
iii) Fixed assets are stated at historical costs, which include
freight, installation cost, duties, taxes and other direct / incidental
expenses.
c) inventories:
i) Raw materials, stores, consumables, spares, tools and packing
materials are valued at weighted average cost.
ii) Finished and Processed goods are valued at total cost (excluding
selling expenses, interest & finance charges) or net realizable value
whichever is lower.
d) Foreign Currency transactions:
i) Export sales are accounted at the exchange rates prevailing as on
the dates of sale. Gain/loss arising out of fluctuations in the
exchange rates has been treated as income/ expenditure, on realization.
ii) Imports of consumables, spares etc., are accounted at the rates
actually paid for.
e) Gratuity
Gratuity is accounted for based on the assumption that it becomes
payable only at the end of accounting year to all the entitled
employees.
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