Mar 31, 2014
I) Basis of Accounting:
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 and
wherever applicable as per the provisions of the Companies Act, 2013.
ii) Use of Estimates:
The preparation of financial statements requires estimates and
assumptions to be made based on the current working that affect the
reported amount of assets and liabilities (including contingent
liabilities) on the date of financial statements and the reported
amount of revenues and expenses for the reporting period. Difference
between the actual and the estimates, if any, are accounted for in the
period in which such differences are known/materialized.
iii) Investments:
Investments wherever readily realizable and intended to be held not
more than one year from the date of such investments are made, are
qualified as current 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.
iv) Revenue Recognition:
Revenue is recognized only when it can be definitely measured and it is
reasonable to expect final collection. Revenue from operations
includes sale of goods after adjustment of discounts (net) and return
of goods.
v) Provisions and Contingencies
The company creates a provision when there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of obligation. A
disclosure for a contingent liability is made when there is a possible
obligation or a present obligation that probably will not require an
outflow of resources or where a reliable estimate of the obligation can
not be made.
vi) Retirement Benefits
There is no amount of gratuity liability or leave encashment or any
other retirement benefits for which the company may be made liable to
pay. Hence no provision for the same has been made as on the date of
Balance sheet.
vii) Cash Flow Statement:
a) The Statement Has been prepared under indirect method except in case
of dividends, sale/purchase of investments and taxes which have been
considered on the basis of actual movement of case, with corresponding
adjustment in assets and liabilities as set out in the Accounting
Standard- 3 issued by ICAI.
b) Cash and cash equivalents represent cash and bank balances only
viii) Segment Reporting
The Companies core activity is to investment, sale/purchases of Shares.
This is the only business segment as per Accounting Standard-17 issued
by the Institute of Chartered Accountants of India.
ix) Contingent Liabilities
As certified by the management there is no Contingent liability as on
31/03/2014.
x) Previous years'' figures have been regrouped, rearranged and restated
wherever considered necessary to make them comparable with the current
year''s figures.
xi) In the opinion of the Board of Directors and to the best of their
knowledge and belief the realizable value of Current Assets, Loans and
Advances in ordinary course of business is not less than the value
stated in the Balance Sheet.
xii) Earning Per Share (EPS)
Basic earning per share is calculated by dividing the net Profit for
the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year.
Diluted earning per share is calculated by dividing the net profit
attributable to equity shareholders by weighted average number of
equity shares outstanding during the year after adjusting for the
effects of dilutive options.
Profit computation for both Basic and Diluted earnings per share of Rs.
10/- each.
xiii) Due to Small Scale Undertakings exceeding Rs. 1.00 lakh overdue
for more than 30days - Nil
xiv) The additional Information pursuant to revised Schedule VI to the
Companies Act, 1956 are either Nil or Not Applicable.
Mar 31, 2013
I) Revenue Recognition
The Company recognizes revenue on an accrual basis.
ii) Provisions and Contingencies
The company creates a provision when there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of obligation. A
disclosure for a contingent liability is made when there is a possible
obligation or a present obligation that probably will not require an
outflow of resources or where a reliable estimate of the obligation can
not be made.
iii) Retirement Benefits
There is no amount of gratuity liability or leave encashment or any
other retirement benefits for which the company may be made liable to
pay. Hence no provision for the same has been made as on the date of
Balance sheet.
Mar 31, 2012
These financial statements are prepared on accrual basis and under
historical cost convention and in accordance with the Accounting
Standards issued by the Institute of Chartered Accountants of India.
The significant accounting policies adopted by the company are detailed
below:
i) Revenue Recognition
The Company recognizes revenue on an accrual basis.
ii) Provisions and Contingencies
The company creates a provision when there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of obligation. A
disclosure for a contingent liability is made when there is a possible
obligation or a present obligation that probably will not require an
outflow of resources or where a reliable estimate of the obligation can
not be made.
iii) Retirement Benefits
There is no amount of gratuity liability or leave encashment or any
other retirement benefits for which the company may be made liable to
pay. Hence no provision for the same has been made as on the date of
Balance sheet.
Mar 31, 2010
These financial statements are prepared on accrual basis and under
historical cost convention and in accordance with the Accounting
Standards issued by the Institute of Chartered Accountants of India.
The significant accounting policies adopted by the company are detailed
below:
i) Revenue Recognition
The Company recognizes revenue on an accrual basis.
ii) Provisions and Contingencies
The company creates a provision when there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of obligation. A
disclosure for a contingent liability is made when there is a possible
obligation or a present obligation that probably will not require an
outflow of resources or where a reliable estimate of the obligation can
not be made.
iii) Retirement Benefits
There is no amount of gratuity liability or leave encashment or any
other retirement benefits for which the company may be made liable to
pay. Hence no provision for the same has been made as on the date of
Balance sheet.
2. Cash Flow Statement:
a) The Statement Has been prepared under indirect method except in case
of dividends, sale/purchase of investments and taxes which have been
considered on the basis of actual movement of case, with corresponding
adjustment in assets and liabilities as set out in the Accounting
Standard- 3 issued by ICAI.
b) Cash and cash equivalents represent cash and bank balances only
3. Segment Reporting
The Companies core activity is to investment, sale/purchases of Shares.
This is the only business segment as per Accounting Standard-17 issued
by the Institute of Chartered Accountants of India.
Mar 31, 2008
Not Available
Mar 31, 1997
1. SIGNIFICANT ACCOUNTING POLICIES
i) Basis of accounting
a) The Company prepares its accounts on accrual basis, except otherwise
stated, in accordance with the normally accepted accounting principles.
b) Revenue from sale of goods is recognised upto passage of title to
the customers which generally coincides with delivery.
c) No provision for gratuity has been made as no employee has put in
the qualifying period of service for the entitlement of this benefit.
ii) Fixed Assets
a) Fixed Assets are stated at cost of acquisition inclusive of duties,
incidental expenses, erection / commissioning / trial run expenses and
interest, etc. upto the date the assets are put to use. Expenses
(including interest) on major expansion/modernisation programme are
capitalised.
b) Based on an independent valuation report issued by an approved
valuer, the land, building & machinery of the Company situated at
Sikandrabad were revalued as on 31st Dec., 1994 at their fair market
value and the resultant surplus of Rs. 1,38,65,621/- on such valuation
over the written down value of the assets was credited to Fixed Assets
Revaluation Reserve.
iii) Depreciation
a) Depreciation on Fixed Assets has been provided on Straight Line
Method on the basis of life of respective assets computed at the rates
specified in Schedule XIV of the Companies Act, 1956 (as amended).
b) Depreciation on Fixed Assets added/dispossed off during the year is
provided on pro-rata basis with reference to the date of
addition/disposal. However, no depreciation has been provided on the
Plant & Machinery procured during the year for the purpose of
diversification project.
c) Depreciation amounting to Rs. 556111/- on Building and Plant &
Machinery has been adjusted in Fixed Assets Revaluation Reserve.
iv) Inventories
a) Inventories of raw material, coal chemicals and packing materials
are valued at cost.
b) Inventories of goods under process and consumables are valued at
estimated value.
c) Finished goods are valued at lower of cost or market value.
v) Preliminary and Public Issue expenses will be written off over a
period of ten years.