Mar 31, 2016
General
The accompanying Financial Statements have been prepared on the Historical Cost Convention.
Fixed Assets & Depreciation
All the fixed assets have been depreciated on straight line method. Consequent to the notification of Schedule II of the companies Act 2013 effective 01.04.2014, the company has estimated the useful life of the fixed assets based on technical evaluation and on the basis of such evaluation the useful life of Factory Buildings and Plant and Machinery is longer than the useful life specified in Schedule II. The unamortized value of fixed assets as at 01.04.2014 has been depreciated over the remaining useful life.
Investments
Investments are stated at Cost. The diminution in the market value of such investments is not recognized unless such diminution is considered permanent.
Modvat credit on Capital Goods
Modvat credit on capital goods is calculated and accounted for by way of diminution in the value of the concerned capital goods.
Valuation of Inventories
⢠Stores and Sundry Stocks, Fertilizers and Insecticides, Bought out Raw Materials and Stock-in- process are valued at lower of cost or net realizable value.
" By products are valued at estimated realizable value.
" Tools and Implements and Crops under cultivation are valued at lower of cost or net realizable value.
" Paddy is valued at selling rates.
" Finished goods are valued at lower of cost or estimated realizable value and are inclusive of appropriate Excise Duty.
" Cost of finished goods and work in progress includes cost of conversion and other costs incurred in bringing the inventories to the present location and condition. The cost of energy from Terra Energy Limited under a barter arrangement by supply of bagasse has been considered as part of conversion and, hence, included in the value of inventory.
Foreign currency transactions
A) Transactions denominated in foreign currency are recorded at the exchange rate prevailing on the date of transaction. All monetary assets and liabilities outstanding at the yearend are restated using the closing rate. Resultant exchange difference is recognized as income or expenditure in that period.
Income and Expenditure Recognition
- Income is recognized and expenditure is accounted for on their accrual.
- Under the barter agreement with the subsidiary company, Terra Energy Limited, Bagasse is supplied in exchange for Steam and Power received within the agreed norms. Consequently, no entries are passed in financial books for the value of Power and Steam received within the agreed norms and utilized for the sugar division operations of the Company. However steam is charged at cost for consumption by sugar division more than the agreed norms and for steam utilized for activities other than cane crushing operations of the Sugar division. Similar method is adopted in respect of power supplied by Terra Energy Limited.
Borrowing Costs
Borrowing costs that are attributable to the acquisition of or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial time to get ready for its intended use. All other borrowing costs are charged to revenue.
Employee Benefits
a) Short Term Employee Benefits
Short term Employee Benefits are charged at the undiscounted amount to Statement of Profit and loss in the year in which related service is rendered.
b) Defined Contribution Plan
Contribution to defined contribution schemes towards retirement benefit in the form of provident fund and superannuation fund for the year are charged to profit and loss account as incurred.
c) Defined Benefit Plan
Liabilities in respect of defined benefit plans are determined based on actuarial valuation made by an independent actuary using projected unit credit method as at the balance sheet date. Actuarial gains or losses are recognized immediately in the profit and loss account.
Terminal benefits are recognized as expenses as and when incurred.
Impairment of Fixed Assets
Consideration is given at each Balance Sheet date to determine whether there is any indication of impairment on the carrying amount of the Company''s fixed assets. If any such indication exists, an asset''s recoverable amount is estimated. Impairment loss is recognized whenever the carrying amount of an asset exceeds recoverable amount.
Terms attached to Shares:
Equity Shares
The Equity Shares have a par value of Rs. 10/-each. Each holders of Equity Share is entitled to one vote per share.
The dividend, when proposed by the Board of Directors, is subject to approval of the Shareholders in the ensuing Annual General Meeting. Repayment of capital on liquidation will be in proportion to the number of Equity Shares held.
Mar 31, 2015
General
The accompanying Financial Statements have been prepared on the
Historical Cost Convention.
Fixed Assets & Depreciation
Till last year Fixed assets other than assets of Distillery and Sugar
machinery were being depreciated on Written Down Value method. From
this year onwards all the fixed assets have been depreciated on
Straight line method. Consequent to the notification of Schedule II of
the companies Act 2013 effective 01.04.2014, the company has estimated
the useful life of the fixed assets based on technical evaluation and
on the basis of such evaluation the useful life of Factory Buildings
and Plant and Machinery is longer than the useful life specified in
Schedule II. The unamortized value of fixed assets as at 01.04.2014 has
been depreciated over the remaining useful life. The unamortized value
of the fixed assets whose useful life has expired by 31.03.2014, has
been reduced from the surplus as at 01.04.2014.
Investments
Investments are stated at Cost. The diminution in the market value of
such investments is not recognised unless such diminution is considered
permanent.
Modvat credit on Capital Goods
Modvat credit on capital goods is calculated and accounted for by way
of diminution in the value of the concerned capital goods.
Valuation of Inventories
* Stores and Sundry Stocks, Fertilizers and Insecticides, Bought out
Raw Materials and Stock-in- process are valued at lower of cost or net
realisable value.
* By products are valued at estimated realisable value.
* Tools and Implements and Crops under cultivation are valued at lower
of cost or net realisable value.
* Paddy is valued at selling rates.
* Finished goods are valued at lower of cost or estimated realisable
value and are inclusive of appropriate Excise Duty.
* Cost of finished goods and work in progress includes cost of
conversion and other costs incurred in bringing the inventories to the
present location and condition. The cost of energy from Terra Energy
Limited under a barter arrangement by supply of bagasse has been
considered as part of conversion and, hence, included in the value of
inventory.
Foreign currency transactions
A) Transactions denominated in foreign currency are recorded at the
exchange rate prevailing on the date of transaction. Any income or
expense on account of exchange difference is recognised in the profit
and loss account.
B) Derivative transactions are considered as off-Balance Sheet items
and cash flows arising there from are recognized in the Books of
Accounts as and when the settlement take place in accordance with the
terms of respective contracts.
Income and Expenditure Recognition
* Income is recognised and expenditure is accounted for on their
accrual.
* Under the barter agreement with the subsidiary company, Terra Energy
Limited, Bagasse is supplied in exchange for Steam and Power received
within the agreed norms. Consequently, no entries are passed in
financial books for the value of Power and Steam received within the
agreed norms and utilised for the sugar division operations of the
Company. However steam is charged at cost for consumption by sugar
division more than the agreed norms and for steam utilised for
activities other than cane crushing operations of the Sugar division.
Similar method is adopted in respect of power supplied by Terra Energy
Limited.
Borrowing Costs
Borrowing costs that are attributable to the acquisition of or
construction of qualifying assets are capitalized as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial time to get ready for its intended use. All other borrowing
costs are charged to revenue.
Employee Benefits
a) Short Term Employee Benefits
Short term Employee Benefits are charged at the undiscounted amount to
Statement of Profit and loss in the year in which related service is
rendered.
b) Defined Contribution Plan
Contribution to defined contribution schemes towards retirement benefit
in the form of provident fund and superannuation fund for the year are
charged to profit and loss account as incurred.
c) Defined Benefit Plan
Liabilities in respect of defined benefit plans are determined based on
actuarial valuation made by an independent actuary using projected unit
credit method as at the balance sheet date. Actuarial gains or losses
are recognized immediately in the profit and loss account.
Terminal benefits are recognized as expenses as and when incurred.
Impairment of Fixed Assets
Consideration is given at each Balance Sheet date to determine whether
there is any indication of impairment on the carrying amount of the
Company's fixed assets. If any such indication exists, an asset's
recoverable amount is estimated. Impairment loss is recognized
whenever the carrying amount of an asset exceeds recoverable amount.
Mar 31, 2014
General
The accompanying Financial Statements have been prepared on the
Historical Cost Convention.
Fixed Assets & Depreciation
Fixed Assets of the Distillery Unit and Sugar Machinery are depreciated
on Straight Line Method. Other Assets are depreciated on the written
down value method in accordance with the provisions of the Companies
Act, 1956.
Investments
Investments are stated at Cost. The diminution in the market value of
such investments is not recognised unless such diminution is considered
permanent.
Modvat credit on Capital Goods
Modvat credit on capital goods is calculated and accounted for by way
of diminution in the value of the concerned capital goods.
Valuation of Inventories
* Stores and Sundry Stocks, Fertilizers and Insecticides, Bought out
Raw Materials and Stock-in- process are valued at lower of cost or net
realisable value.
* By products are valued at estimated realisable value.
* Tools and Implements and Crops under cultivation are valued at lower
of cost or net realisable value.
* Paddy is valued at selling rates.
* Finished goods are valued at lower of cost or estimated realisable
value and are inclusive of appropriate Excise Duty.
* Cost of finished goods and work in progress includes cost of
conversion and other costs incurred in bringing the inventories to the
present location and condition. The cost of energy from Terra Energy
Limited under a barter arrangement by supply of bagasse has been
considered as part of conversion and, hence, included in the value of
inventory.
Foreign currency transactions
A) Transactions denominated in foreign currency are recorded at the
exchange rate prevailing on the date of transaction. Any income or
expense on account of exchange difference is recognised in the Profit
and Loss account.
B) Derivative transactions are considered as off-Balance Sheet items
and cash flows arising there from are recognized in the Books of
Accounts as and when the settlement take place in accordance with the
terms of respective contracts.
Income and Expenditure Recognition
* Income is recognised and expenditure is accounted for on their
accrual.
* Under the barter agreement with the subsidiary company, Terra Energy
Limited, Bagasse is supplied in exchange for Steam and Power received
within the agreed norms. Consequently, no entries are passed in
financial books for the value of Power and Steam received within the
agreed norms and utilised for the sugar division operations of the
Company. However steam is charged at cost for consumption by sugar
division more than the agreed norms and for steam utilised for
activities other than cane crushing operations of the Sugar division.
Similar method is adopted in respect of power supplied by Terra Energy
Limited.
Borrowing Costs
Borrowing costs that are attributable to the acquisition of or
construction of qualifying assets are capitalized as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial time to get ready for its intended use. All other borrowing
costs are charged to revenue.
Employee Benefits
a) Short Term Employee Benefits
Short term Employee Benefits are charged at the undiscounted amount to
Statement of Profit and Loss in the year in which related service is
rendered.
b) Defined Contribution Plan
Contribution to defined contribution schemes towards retirement benefit
in the form of Provident Fund and Superannuation Fund for the year are
charged to Profit and Loss Account as incurred.
c) Defined Benefit Plan
Liabilities in respect of defined benefit plans are determined based on
actuarial valuation made by an independent Actuary using projected unit
credit method as at the Balance Sheet date. Actuarial gains or losses
are recognized immediately in the Profit and Loss Account.
Terminal benefits are recognized as expenses as and when incurred.
Impairment of Fixed Assets
Consideration is given at each Balance Sheet date to determine whether
there is any indication of impairment on the carrying amount of the
Company''s Fixed Assets. If any such indication exists, an asset''s
recoverable amount is estimated. Impairment loss is recognized
whenever the carrying amount of an asset exceeds recoverable amount.
Mar 31, 2013
General
The accompanying Financial Statements have been prepared on the
Historical Cost Convention.
Fixed Assets & Depreciation
Fixed Assets of the Distillery and Sugar Machinery are depreciated on
Straight Line Method. Other Assets are depreciated on the written down
value method in accordance with the provisions of the Companies
Act,1956.
Investments
Investments are stated at Cost. The diminution in the market value of
such investments is not recognised unless such diminution is considered
permanent.
Modvat credit on Capital Goods
Modvat credit on capital goods is calculated and accounted for by way
of diminution in the value of the concerned capital goods.
Valuation of Inventories
- Stores and Sundry Stocks, Fertilizers and Insecticides, Bought out
Raw Materials and Stock-in- process are valued at lower of cost or net
realisable value.
- By products are valued at estimated realisable value.
- Tools and Implements and Crops under cultivation are valued at lower
of cost or net realisable value.
- Paddy is valued at selling rates.
- Finished goods are valued at lower of cost or estimated realisable
value and are inclusive of appropriate Excise Duty.
- Cost of finished goods and work in progress includes cost of
conversion and other costs incurred in bringing the inventories to the
present location and condition. The cost of energy from Terra Energy
Limited under a barter arrangement by supply of bagasse has been
considered as part of conversion and, hence, included in the value of
inventory.
Foreign currency transactions
A) Transactions denominated in foreign currency are recorded at the
exchange rate prevailing on the date of transaction. Any income or
expense on account of exchange difference is recognised in the profit
and loss account.
B) Derivative transactions are considered as off-Balance Sheet items
and cash flows arising there from are recognized in the Books of
Accounts as and when the settlement take place in accordance with the
terms of respective contracts.
Income and Expenditure Recognition
- Income is recognised and expenditure is accounted for on their
accrual.
- Under the barter agreement with the subsidiary company, Terra Energy
Limited, Bagasse is supplied in exchange for Steam and Power received
within the agreed norms. Consequently, no entries are passed in
financial books for the value of Power and Steam received within the
agreed norms and utilised for the sugar division operations of the
Company. However steam is charged at cost for consumption by sugar
division more than the agreed norms and for steam utilised for
activities other than cane crushing operations of the Sugar division.
Similar method is adopted in respect of power supplied by Terra Energy
Limited.
Borrowing Costs
Borrowing costs that are attributable to the acquisition of or
construction of qualifying assets are capitalized as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial time to get ready for its intended use. All other borrowing
costs are charged to revenue.
Employee Benefits
a) Short Term Employee Benefits
Short term Employee Benefits are charged at the undiscounted amount to
Statement of Profit and Loss in the year in which related service is
rendered.
b) Defined Contribution Plan
Contribution to defined contribution schemes towards retirement benefit
in the form of Provident Fund and Superannuation Fund for the year are
charged to Profit and Loss Account as incurred.
c) Defined Benefit Plan
Liabilities in respect of defined benefit plans are determined based on
actuarial valuation made by an independent actuary using projected unit
credit method as at the Balance Sheet date. Actuarial gains or losses
are recognized immediately in the Profit and Loss Account.
Terminal benefits are recognized as expenses as and when incurred.
Impairment of Fixed Assets
Consideration is given at each Balance Sheet date to determine whether
there is any indication of impairment on the carrying amount of the
Company''s Fixed Assets. If any such indication exists, an asset''s
recoverable amount is estimated. Impairment loss is recognized
whenever the carrying amount of an asset exceeds recoverable amount.
Mar 31, 2012
1. Defined Contribution Plans
Contribution of Rs.15.77 million to defined contribution plans is
recognized as expense and included in the employees cost in the Profit
and Loss Account.
General
The accompanying Financial Statements have been prepared on the
Historical Cost Convention.
Fixed Assets & Depreciation
Fixed Assets of the Distillery and Sugar Machinery are depreciated on
Straight Line Method. Other Assets are depreciated on the Written Down
Value method in accordance with the provisions of the Companies
Act,1956.
Investments
Investments are stated at Cost. The diminution in the market value of
such investments is not recognised unless such diminution is considered
permanent.
Modvat credit on Capital Quads
Modvat credit on capital goods is calculated and accounted for by way
of diminution in the value of the concerned capital goods. Valuation
of Inventories
- Stores and Sundry Stocks, Fertilizers and Insecticides, Bought out
Raw Materials and Stock-in-process are valued at lower of cost or net
realisable value
- By-products are valued at estimated realisable value
- Tools and Implements and Crops under cultivation are valued at lower
of cost or net realisable value
- Paddy is valued at selling rates
- Finished goods are valued at lower of cost or estimated realisable
value and are inclusive of appropriate Excise Duty
- Cost of finished goods and work in progress includes cost of
conversion and other costs incurred in bringing the inventories to the
present location and condition. The cost of energy from Terra Energy
Limited under a Barter arrangement by supply of bagasse has been
considered as part of conversion and, hence, included in the value of
inventory
Foreign currency transactions
A) Transactions denominated in foreign currency are recorded at the
exchange rate prevailing on the date of transaction. Any income or
expense on account of exchange difference is recognised in the Profit
and Loss Account.
B) Derivative transactions are considered as off-Balance Sheet items
and cash flows arising there from are recognized in the Books of
Accounts as and when the settlement take place in accordance with the
terms of respective contracts.
Income and Expenditure Recognition
- Income is recognised and expenditure is accounted for on their
accrual.
- Under the barter agreement with the subsidiary company, Terra Energy
Limited, Bagasse is supplied in exchange for Steam and Power received
within the agreed norms. Consequently, no entries are passed in
financial books for the value of Power and Steam received within the
agreed norms and utilised for the Sugar Division operations of the
Company. However steam is charged at cost for consumption by Sugar
Division more than the agreed norms and for steam utilised for
activities other than cane crushing operations of the Sugar Division.
Similar method is adopted in respect of power supplied by Terra Energy
Limited.
Borrowing Costs
Borrowing costs that are attributable to the acquisition of or
construction of qualifying assets are capitalized as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial time to get ready for its intended use. All other borrowing
costs are charged to revenue.
Employee Benefits
a) Short Term Employee Benefits
Short term Employee Benefits are charged at the undiscounted amount to
Profit and Loss Account in the year in which related service is
rendered.
b) Defined Contribution Plan
Contribution to defined contribution schemes towards retirement benefit
in the form of Provident Fund and Superannuation Fund for the year are
charged to Profit and Loss Account as incurred.
c) Defined Benefit Plan
Liabilities in respect of defined benefit plans are determined based on
actuarial valuation made by an independent actuary using projected unit
credit method as at the Balance Sheet date. Actuarial gains or losses
are recognized immediately in the Profit and Loss Account.
Terminal benefits are recognized as expenses as and when incurred.
Impairment of Fixed Assets
Consideration is given at each Balance Sheet date to determine whether
there is any indication of impairment on the carrying amount of the
Company's Fixed Assets. If any such indication exists, an asset's
recoverable amount is estimated. An impairment loss is recognized
whenever the carrying amount of an asset exceeds recoverable amount.
Dec 31, 2010
General
The accompanying Financial Statements have been prepared on the
Historical Cost Convention.
Fixed Assets & Depreciation
Fixed Assets of the Distillery and Sugar machinery are depreciated on
Straight Line Method. Other Assets are depreciated on the Written Down
Value method in accordance with the provisions of the Companies
Act,1956.
Investments
Investments are stated at Cost. The diminution in the market value of
such investments is not recognised unless such diminution is considered
permanent.
Modvat credit on Capital Qoods
Modvat credit on capital goods is calculated and accounted for by way
of diminution in the value of the concerned capital goods.
Valuation of Inventories
- Stores and Sundry Stocks, Fertilizers and Insecticides, Bought out
Raw Materials and Stock-in-process are valued at lower of cost or net
realisable value.
- By products are valued at estimated realisable value.
- Tools and Implements and Crops under cultivation are valued at lower
of cost or net realisable value.
- Paddy is valued at selling rates.
- Finished goods are valued at lower of cost or estimated realisable
value and are inclusive of appropriate Excise Duty.
- Cost of finished goods and work in progress includes cost of
conversion and other costs incurred in bringing the inventories to the
present location and condition. The cost of energy from Terra Energy
Limited under a barter arrangement by supply of bagasse has been
considered as part of conversion and, hence, included in the value of
inventory.
Foreign currency transactions
a) Transactions denominated in foreign currency are recorded at the
exchange rate prevailing on the date of transaction .Any income or
expense on account of exchange difference is recognised in the profit
and loss account.
b) Derivative transactions are considered as off-Balance Sheet items
and cash flows arising there from are recognized in the Books of
Accounts as and when the settlement take place in accordance with the
terms of respective contracts.
Income and Expenditure Recognition
- Income is recognised and expenditure is accounted for on their
accrual.
- Under the barter agreement with the subsidiary company, Terra Energy
Limited, Bagasse is supplied in exchange for Steam and Power received
within the agreed norms. Consequently, no entries are passed in
financial books for the value of Power and Steam received within the
agreed norms and utilised for the sugar division operations of the
Company. However steam is charged at cost for consumption by sugar
division more than the agreed norms and for steam utilised for
activities other than cane crushing operations of the Sugar division.
Similar method is adopted in respect of power supplied by Terra Energy
Limited.
Borrowing Costs
Borrowing costs that are attributable to the acquisition of or
construction of qualifying assets are capitalized as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial time to get ready for its intended use. All other borrowing
costs are charged to revenue.
Employee Benefits
a) Short Term Employee Benefits
Short term Employee Benefits are charged at the undiscounted amount to
Profit and loss account in the year in which related service is
rendered.
b) Defined Contribution Plan
Contribution to defined contribution schemes towards retirement benefit
in the form of Provident Fund and Superannuation Fund for the year are
charged to Profit and Loss Account as incurred.
c) Defined Benefit Plan
Liabilities in respect of defined benefit plans are determined based on
actuarial valuation made by an independent actuary using projected unit
credit method as at the balance sheet date. Actuarial gains or losses
are recognized immediately in the profit and loss account.
Terminal benefits are recognized as expenses as and when incurred.
Impairment of Fixed Assets
Consideration is given at each Balance Sheet date to determine whether
there is any indication of impairment on the carrying amount of the
Companys fixed assets. If any such indication exists, an assets
recoverable amount is estimated. An impairment loss is recognized
whenever the carrying amount of an asset exceeds recoverable amount.
Dec 31, 2009
General
The accompanying Financial Statements have been prepared on the
Historical Cost Convention.
Fixed Assets & Depreciation
Fixed Assets of the Distillery and Sugar Machinery are depreciated on
Straight Line Method. Other Assets are depreciated on the written down
value method in accordance with the provisions of the Companies
Act,1956.
Investments
Investments are stated at Cost. The diminution in the market value of
such investments is not recognised unless such diminution is considered
permanent.
Modvat credit on Capital Qoods
Modvat credit on capital goods is calculated and accounted for by way
of diminution in the value of the concerned capital goods.
Valuation of Inventories
à Stores and Sundry Stocks, Fertilizers and Insecticides, Bought out
Raw Materials and Stock-in-process are valued at cost.
à By products are valued at estimated realisable value.
à Tools and Implements and Crops under cultivation are valued at cost.
à Paddy is valued at selling rates.
à Finished goods are valued at lower of cost or estimated realisable
value and are inclusive of appropriate Excise Duty.
à Cost of finished goods and work in progress includes cost of
conversion and other costs incurred in bringing the inventories to the
present location and condition. The cost of energy from Terra Energy
Limited under a barter arrangement by supply of bagasse has been
considered as part of conversion and, hence, included in the value of
inventory.
Foreign currency transactions
a) Transactions denominated in foreign currency are recorded at the
exchange rate prevailing on the date of transaction .Any income or
expense on account of exchange difference is recognised in the profit
and loss account except in cases where they relate to acquisition of
fixed assets in which case they are adjusted to the carrying cost of
such assets.
b) Derivative transactions are considered as off-Balance Sheet items
and cash flows arising there from are recognized in the Books of
Accounts as and when the settlement take place in accordance with the
terms of respective contracts.
Income and Expenditure Recognition
à Income is recognised and expenditure is accounted for on their
accrual.
à Under the barter agreement with the subsidiary company, Terra Energy
Limited, Bagasse is supplied in exchange for Steam and Power received
within the agreed norms. Consequently, no entries are passed in
financial books for the value of Power and Steam received within the
agreed norms and utilised for the sugar division operations of the
Company. However steam is charged at cost for consumption by sugar
division more than the agreed norms and for steam utilised for
activities other than cane crushing operations of the Sugar division.
Similar method is adopted in respect of power supplied by Terra Energy
Limited.
Borrowing Costs
Borrowing costs that are attributable to the acquisition of or
construction of qualifying assets are capitalized as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial time to get ready for its intended use. All other borrowing
costs are charged to revenue.
Employee Benefits
a) Short Term Employee Benefits
Short term Employee Benefits are charged at the undiscounted amount to
Profit and Loss Account in the year in which related service is
rendered.
b) Defined Contribution Plan
Contribution to defined contribution schemes towards retirement benefit
in the form of provident fund and superannuation fund for the year are
charged to Profit and Loss Account as incurred.
c) Defined Benefit Plan
Liabilities in respect of defined benefit plans are determined based on
actuarial valuation made by an independent actuary using projected unit
credit method as at the Balance Sheet date. Actuarial gain or loss is
recognized immediately in the Profit and Loss Account. Terminal
benefits are recognized as expenses as and when incurred.
Impairment of Fixed Assets
Consideration is given at each Balance Sheet date to determine whether
there is any indication of impairment on the carrying amount of the
Companys fixed assets. If any such indication exists, an assets
recoverable amount is estimated. An impairment loss is recognized
whenever the carrying amount of an asset exceeds recoverable amount.
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