Mar 31, 2015
(a) Basis of Accounting:
The financial statement are Prepared in accordance with Indian
Generally Accepted Accounting Principles ("GAAPÂ) under the
historical cost convention, on the accruals basis. Except in respect
of assets classified as Non Performing Assets (NP)
(b) Use of Estimates
The presentation of financial statements in conformity with the
generally accepted accounting principles requires estimates and
assumptions to be made that may affect the reported amount of assets
and liabilities and disclosures relating to contingent liabilities as
at the date of the financial statements and the reported amount of
revenues and expenses during the reported period. Actual results could
differ from those of estimated.
(c) Revenue Recognition:
(i) Sale of goods:
Revenue from the sale of goods is recognized when significant risks
and rewards in respect of ownership of the goods are transferred to
the customer, as per the terms of the respective Sales Order.
(ii) Interest
Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the rate applicable
(iii) Dividend
Dividend Income from investments are recognized when the right to
receive payment established.
(d) Fixed Assets
Fixed Assets are stated at cost, less accumulated depreciation and
impairment losses. Cost includes all expenditure necessary to bring
the assets to its working conditions for its intended use.
(e) Depreciation and Amortisation
Depreciation is provided on the straight line method based as per the
rate specified in Schedule II of the Companies Act, 2013.
(f) Investments
Long-term investments are carried at cost. However, Provision is made
to recognize, other than temporary, in the value of long-term
investments.
Current Investments ar carried at lower of cost and fair values,
determined on individual basis.
(g) Inventories
Inventories are at lower of cost and net realizable value. Cost is
determined on the weighted average basis, net realizable value is
determined by management using technical estimates.
(h) Borrowing Costs
Borrowing cost that are directly attributable to the acquisition,
construction or production of qualifying assets are capitalised as
part of the cost of such assets. A quality asset is one that
necessarily takes substantial period of time to get readly for
intended use. All other borrowing costs are changed to revenue.
(i) Retirement and other employee benefits
The Company has adopted the policy to provide for the Liability for
gratuity and leave encashment benefits on actuarial valuation.
(j) Provisions, Contingent liabilities and contingent Assets.
A Provision is recognized when the Company has a Present obligation as
a result of past events and it is probable that an out flow of
resources will be required to settle the obligation, in respect of
which are reliable estimate can be made. Provisions are not discounted
to their present value and are determined based on estimate required
to settle the obligation at the balance sheet date. These are reviewed
at each balance sheet date and adjusted to reflect the current best
estimates. Contingent liabilities are disclosed by way of Notes to the
account. Contingent assets are not recognized.
(k) Provision for current and deferred tax
Provision for current income tax is made in accordance with the Income
Tax Act,1961. Deferred tax liabilities and assets are recognized at
substantively enacted tax rates, subject to the consideration of
prudence, on timing difference, being the difference between taxable
income and accounting income that original in one period are capable
of reversal in one or more subsequently period.
(l) Impairments
Impairment loss is recognized wherever the carrying amount of an asset
is in excess of its recoverable amount and the same is recognized as
an expense in the statement of Profit and Loss and carrying amount of
the asset is reduced to its recoverable amount.
(m) Earning Per Share
Basic earnings per Share are calculated by dividing the net profit for
the period attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period. The weighted
average number of equity shares outstanding during the period are
adjusted for any bonus shares issued during the year and also after
the balance sheet date but before the ate the financial statements are
approved by the Board of Directors.
For the purpose of calculating diluted earnings per share, the net
profit for period attributed to equity shareholders and the weight
average number of share outstanding during the period adjusted for the
effects of all dilative potential equity shares.
The number of equity shares are potential dilative equity shares are
adjusted for bonus as appropriate.
Mar 31, 2014
(a) Basis of Accounting:
The financial statement are Prepared in accordance with Indian
Generally Accepted Accounting Principles ("GAAP") under the historical
cost convention, on the accruals basis. Except in respect of assets
classified as Non Performing Assets (NP)
(b) Use of Estimates
The presentation of financial statements in conformity with the
generally accepted accounting principles requires estimates and
assumptions to be made that may affect the reported amount of assets
and liabilities and disclosures relating to contingent liabilities as
at the date of the financial statements and the reported amount of
revenues and expenses during the reported period. Actual results could
differ from those of estimated.
(c) Revenue Recognition:
(i) Sale of goods:
Revenue from the sale of goods is recognized when significant risks and
rewards in respect of ownership of the goods are transferred to the
customer, as per the terms of the respective Sales Order.
(ii) Interest
Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the rate applicable
(iii) Dividend
Dividend Income from investments are recognized when the right to
receive payment established.
(d) Fixed Assets
Fixed Assets are stated at cost, less accumulated depreciation and
impairment losses. Cost includes all expenditure necessary to bring the
assets to its working conditions for its intended use.
(e) Depreciation and Amortisation
Depreciation is provided on the straight line method based as per the
rate specified in Schedules XIV of the Companies Act, 1956.
(f) Investments
Long-term investments are carried at cost. However, Provision is made
to recognize, other than temporary, in the value of long-term
investments.
Current Investments are carried at lower of cost and fair values,
determined on individual basis.
(g) Inventories
Inventories are at lower of cost and net realizable value.
Stock of land is valued at lower of cost and net realizable value. Cost
is determined on the weighted average basis, net realizable value is
determined by management using technical estimates.
(h) Borrowing Costs
Borrowing cost that are directly attributable to the acquisition,
construction or production of qualifying assets are capitalised as part
of the cost of such assets. A quality asset is one that necessarily
takes substantial period of time to get readly for intended use. All
other borrowing costs are changed to revenue.
(i) Retirement and other employee benefits
The Company has adopted the policy to provide for the Liability for
gratuity and leave encashment benefits on actuarial valuation.
(j) Provisions. Contingent liabilities and contingent Assets.
A Provision is recognized when the Company has a Present obligation as
a result of past events and it is probable that an out flow of
resources will be required to settle the obligation, in respect of
which are reliable estimate can be made. Provisions are not discounted
to their present value and are determined based on estimate required to
settle the obligation at the balance sheet date. These are reviewed at
each balance sheet date and adjusted to reflect the current best
estimates. Contingent liabilities are disclosed by way of Notes to the
account. Contingent assets are not recognized.
(k) Provision for current and deferred tax
Provision for current income tax is made in accordance with the Income
Tax Act,1961. Deferred tax liabilities and assets are recognized at
substantively enacted tax rates, subject to the consideration of
prudence, on timing difference, being the difference between taxable
income and accounting income that original in one period are capable of
reversal in one or more subsequently period.
(l) Impairments
Impairment loss is recognized wherever the carrying amount of an asset
is in excess of its recoverable amount and the same is recognized as an
expense in the statement of Profit and Loss and carrying amount of the
asset is reduced to its recoverable amount.
(m) Earning Per Share
Basic earnings per Share are calculated by dividing the net profit for
the period attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period. The weighted
average number of equity shares outstanding during the period are
adjusted for any bonus shares issued during the year and also after the
balance sheet date but before the ate the financial statements are
approved by the Board of Directors. For the purpose of calculating
diluted earnings per share, the net profit for period attributed to
equity shareholders and the weight average number of share outstanding
during the period adjusted for the effects of all dilative potential
equity shares.
The number of equity shares are potential dilative equity shares are
adjusted for bonus as appropriate.
(n) Share Issue Expenses
The share issue expenses is carried as an asset and is amortised over a
period of 5 years
Mar 31, 2013
(a) Basis of Accounting:
The financial statement are Prepared in accordance with Indian
Generally Accepted Accounting Principles ("GAAP") under the historical
cost convention, on the accruals basis.Except in respecr of assets
classified as Non Performing Assets (NP)
(b) Use of Estimates
The presentation of financial statements in confirmity with the
generally accepted accounting principles requires estimates and
assumptions to be made that may affect the reported amount of assets
and liabilities and disclosures relating to contingent liabilities as
at the date of the financial statements and the reported amount of
revenues and expenses during the reported period. Actual results could
differ from those of estimated. (c ) Revenue Recognition:
(i) Sale of goods:
Reveune from the sale of goods is recognized when significant risks and
rewards in respect of ownership of the goods are transferred to the
customer, as per the terms of the respective Sales Order. (ii)
Interest
Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the rate applicable (iii) Dividend
Dividend Income from investments are recognized when the right to
receive payment established.
(d) Fixed Assets
Fixed Assets are stated at cost, less accumulated depreciation and
impairment losses. Cost includes all expenditure necessary to bring the
assets to its working conditions for its intended use.
(e) Depreciation and Amortisation
Depreciation is provided on the straight line method based as per the
rate specified in Schedules XIV of the Companies Act, 1956.
(f) Investments
Long-term investments are carried at cost. However, Provision is made
to recognize, other than temporary, in the value of long-term
investments.
Current Investments ar carried at lower of cost and fair values,
determined on individual basis.
(g) Inventories
Inventories are at lower of cost and net realizable value.
Stock of land is valued at lower of cost and net realizable value.
Cost is determined on the weighted average basis, net realizable value
is determined by management using technical estimates.
(h) Borrowing Costs
B orrowing cost tha t are directly attributable to the acquisition,
construction or production of qualif ying assets are capitalised as
part of the cost of such assets. A qulity asset is one that necessarily
takes substantial period of time to get readly for intended use. All
other borrow ing costs are changed to revenue. (i) Retirment and other
employee benefits
The Company has adopted the policy to provide for the Liability f or
gratuity and leav e encas hment benefits on actuarial v aluation. (j)
Provisions, Contingent liabilities and contingent Assets.
A Provision is recognized w hen the Company has a Present obligation as
a result of past events and it is probable that an out f low of
resources w ill be required to settle the obligation, in respect of w
hich are reliable estimate can be made. Provisions are not discounted
to their present value and are determined based on estimate required to
settle the obligation at the balance sheet date. These are review ed at
each balance sheet date and adjusted to reflect the current best
estimates. Contingent liablities are disclosed by w ay of Notes to the
account. Contingent assets are not recognized.
(k) Provision for current and deferred tax
Provision for current income tax is made in accordance w ith the Income
Tax Act,1961. Deferred tax liabilities and assets are recognized at
substantively enacted tax rates, subject to the consideration of
prudence, on timing difference, being the differnce betw een taxable
income and accouonting income that original in oone period arecapable
of reversal in one or more subsequently period.
(l) Impairments
Impairment loss is recognizede w herever the carrying amount of an
asset is in excess of its recoverable amount and the same is recognized
as an expense in the statement of Profit and Loss and carrying amount
of the asset is reduced to its recoverable amount. (m) Earning Per
Share
(m) Basic earnings per Share are calculated by dividing the net profit for
the period attributable to equity shareholders by the eighted average
number of equity shares outstanding during the period. The w eighted
average number of equity shares oustanding during the period are
adjusted for any bonus shares issued during the year and also after
the balance sheet date but before the ate the financial statements
are approved bythe Board of Directors.
For the purpose of calculating diluted earnings per share, the net
profit for period attributed to equity shareholders and the w eight
average number of share outstanding during the period adjusted for the
effects of all dilaative potenial equity shares.
The number of equity shares are potenial dilative equity shares are
adjusted for bonus as appropriate.
(n) Share Issue Expenses
The share issue expenses is carried as an asset and is amortised over a
period of 5 years
Mar 31, 2012
(a) Basis of Accounting:
The financial statement are Prepared in accordance with Indian
Generally Accepted Accounting Principles ("GAAP") under the
historical cost convention, on the accruals basis.Except in respecr of
assets classified as Non Performing Assets (NP)
(b) Use of Estimates
The presentation of financial statements in confirmity with the
generally accepted accounting principles requires estimates and
assumptions to be made that may affect the reported amount of assets
and liabilities and disclosures relating to contingent liabilities as
at the date of the financial statements and the reported amount of
revenues and expenses during the reported period. Actual results could
differ from those of estimated.
(c ) Revenue Recognition:
(i) Sale of goods:
Reveune from the sale of goods is recognized when significant risks and
rewards in respect of ownership of the goods are transferred to the
customer, as per the terms of the respective Sales Order.
(ii) Interest
Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the rate applicable
(iii) Dividend
Dividend Income from investments are recognized when the right to
receive payment established.
(d) Fixed Assets
Fixed Assets are stated at cost, less accumulated depreciation and
impairment losses. Cost includes all expenditure necessary to bring the
assets to its working conditions for its intended use.
(e) Depreciation and Amortisation
Depreciation is provided on the straight line method based as per the
rate specified in Schedules XIV of the Companies Act, 1956
(f) Investments
Long-term investments are carried at cost. However, Provision is made
to recognize, other than temporary in the valu of the long term
investments.
Current Investments ar carried at lower of cost and fair values,
determined on individual basis.
(g) Inventories
Inventories are at lower of cost and net realizable value.
Stock of land is valued at lower of cost and net realizable value. Cost
is determined on the weighted average basis, net realizable value is
determined by management using technical estimates.
(h) Borrowing Costs
Borrowing cost that are directly attributable to the acquisition,
construction or production of qualifying assets are capitalised as part
of the cost of such assets. A qulity asset is one that necessarily
takes substantial period of time to get readly for intended use. All
other borrowing costs are changed to revenue.
(i) Retirment and other employee benefits
The Company has adopted the policy to provide for the Liability for
gratuity and leave encashment benefits on actuarial valuation.
(j) Provisions, Contingent liabilities and contingent Assets.
A Provision is recognized when the Company has a Present obligation as
a result of past events and it is probable that an out flow of
resources will be required to settle the obligation, in respect of
which are reliable estimate can be made. Provision are not discounted
to their present value and are determined based on estimate required to
settle the obligation at the balance sheet date. These are reviewed at
each balance sheet date and adjusted to reflect the current best
estimates. Contingent liablities are disclosed by way of Notes to the
account. Contingent assets are not recognized.
(k) Provision for current and deferred tax
Provision for current income tax is made in accordance with the Income
Tax Act,1961. Deferred tax liabilities and assets are recognized at
substantively enacted tax rates, subject to the consideration of
prudence, on timing difference, being the differnce between taxable
income and accouonting income that original in oone period arecapable
of reversal in one or more subsequently period.
(l) Impairments
Impairment loss is recognizede wherever the carrying amount of an asset
is in excess of its recoverable amount and the same is recognized as an
expense in the statement of Profit and Loss and carrying amount of the
asset is reduced to its recoverable amount.
(m) Earning Per Share
Basic earnings per Share are calculated by dividing the net profit for
the period attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period. The weighted
average number of equity shares oustanding during the period are
adjusted for any bonus shares issued during the year and also after the
balance sheet date but before the ate the financial statements are
approved bythe Board of Directors.
For the purpose of calculating diluted earnings per share, the net
profit for period attributed to equity shareholders and the weight
average number of share outstanding during the period adjusted for the
effects of all dilaative potenial equity shares. The number of equity
shares are potenial dilative equity shares are adjusted for bonus as
appropriate.
(n) Share Issue Expenses
Share issue expenses are redemption premium are adjusted against the
Securities Premium Account as permissble under Section 78(2) of the
Companies Act, 1956, to the extent balance is available for utilisation
in the Securities Premium Account. The balance of share issue expenses
is carried as an asset and is amortised over a period of 5 years
Mar 31, 2011
1. BASIS OF ACCOUNTING :
The financial statement is prepared in accordance with Indian Generally
Accepted Accounting Principles (GAAP) under the historical cost
convention on the accruals basis. Except in respect of assets
classified as Non-Performing Assets (NP).
2. USE OF ESTIMATES :
The presentation of financial statements in conformity with the
generally accepted accounting principles requires estimates and
assumptions to be made that may affect the reported amount of assets
and liabilities and disclosures relating to contingent liabilities as
at the date of the financial statements and the reported amount of
revenues and expenses during the reporting period. Actual Results could
differ from those of estimated.
3. REVENUE RECOGNITION :
a) SALE OF GOODS: Revenue from sale of goods is recognized when
significant risks and rewards in respect of ownership of the goods are
transferred to the customer, as per the terms of the respective Sales
order.
b) INTEREST: Interest Income is recognized on a time proportion basis
taking in to account the amount outstanding and the rate applicable.
c) DIVIDEND: Dividend income from Investments is recognized when the
right to receive payment is established.
d) INCOME FROM LEASE & HIRE CHARGES: In respect of lease management
fees and lease rentals arising out of lease agreements and hire
purchase charges & services charges arising out of hire purchase
agreements it is the company's general policy to accrue the income as
per the terms of the agreements entered into with lessees/hirers from
time to time. In respect of hire purchases business, the company
recognizes income on declining balance basis based on rates implicit in
the transaction.
4. FIXED ASSETS: Fixed Assets are stated at cost of acquisition or
construction less accumulated depreciation and impairment losses. Cost
includes all expenditure necessary to bring the assets to its working
conditions for intended use.
5. Depreciation: Depreciation is provided on the straight-line method
based as per the rates specified in Schedule XIV of the Companies Act,
1956.
6. INVESTMENTS: Long term investments are valued at Cost of
Acquisition Accordingly no provision is made for temporary diminution
in the value of such Investments. Current investments are carried at
lower of cost and fair values determined on individual basis
Inventories: Equity Stock at the end is valued at cost & other stock is
valued at cost or market value whichever is less.
7. INVENTORIES: Inventories are at lower of cost or net realizable
value. Stock of land is valued at lower of cost or net realizable
value. Cost is determined on the weighted average basis, net realizable
value is determined on individual basis.
8. BORROWING COST: Borrowing Cost that are directly attributable to
the acquisition, construction or production of qualifying assets are
capitalized as part of the cost of such assets. A quality asset is one
that necessarily takes substantial period of time to get ready for
intended use. All other borrowing costs are charged to revenue.
9. RETIREMENT AND OTHER EMPLOYEE BENEFIT: Gratuity is accounted for on
cash basis.
10. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS: A
provision is recognized when the Company has a present obligation as a
results of past events and it is probable that an out flow of resources
will be required to settle the obligation, in respect of which are
reliable estimates can be made. Provisions are not discounted to their
present value and are determined based on estimate required to settle
the obligation at the Balance Sheet date. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Contingent liabilities are disclosed by way of Notes to the account.
Contingent Assets are not recognized.
11. TAXATION: Provision for current income tax is made in accordance
with the Income Tax Act,1961. Deferred tax liabilities and assets are
recognized at substantively enacted tax rates, subject to the
consideration of prudence, on timing difference, being the difference
between taxable income and accounting income that original in one
period and are capable of reversal in one or more subsequently period.
12. IMPAIRMENT: It is a policy of the Company that Impairment loss is
recognized wherever the carrying amount of an asset is in excess of its
recoverable amount and the same is recognized as an expense in the
statement of Profit and Loss and carrying amount of the asset is
reduced to its recoverable amount.
13. EARNING PER SHARE: Basic earnings Per Share are calculated by
dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares
outstanding during the period. The weighted average number of equity
shares outstanding during the period are adjusted for any bonus shares
issued during the year and also after the balance sheet date but before
the date the financial statements are approved by the Board Of
Directors. For the purpose of calculating diluted earnings per share,
the net profit for the period attributed to equity shareholders and the
weight average number of share outstanding during the period adjusted
for the effects of all dilutive potential equity shares.
II. The number of equity shares and potential dilutive equity shares
are adjusted for bonus as appropriate.
Mar 31, 2010
1) Basis of Accounting: The financial statement is prepared in
accordance with Indian Generally Accepted Accounting Principles (GAAP)
under the historical cost convention on the accruals basis. except in
respect of assets classified as Non- Performing Assets (NP).
2) Use of Estimates: The presentation of financial statements in
conformity with the generally accepted accounting principles requires
estimates and assumptions to be made that may affect the reported
amount of assets and liabilities and disclosures relating to contingent
liabilities as at the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Actual
Results could differ from those of estimated.
3) Revenue Recognition :
a. Sale of Goods: Revenue from sale of goods is recognized when
significant risks and rewards in respect of ownership of the goods are
transferred to the customer, as per the terms of the respective Sales
order.
b. Interest: Interest Income is recognized on a time proportion basis
taking in to account the amount outstanding and the rate applicable.
c. Dividend: Dividend income from Investments is recognized when the
right to receive payment is established.
d. Income from Lease & Hire Charges: In respect of lease management
fees and lease rentals arising out of lease agreements and hire
purchase charges & services charges arising out of hire purchase
agreements it is the companyÃs general policy to accrue the income as
per the terms of the agreements entered into with lessees/hirers from
time to time. In respect of hire purchases business, the company
recognizes income on declining balance basis based on rates implicit in
the transaction.
4) Fixed Assets: Fixed Assets are stated at cost of acquisition or
construction less accumulated depreciation and impairment losses. Cost
includes all expenditure necessary to bring the assets to its working
conditions for intended use.
5) Depreciation: Depreciation is provided on the straight-line method
based as per the rates specified in Schedule XIV of the Companies Act,
1956.
6) Investments: Long term investments are valued at Cost of
Acquisition. Accordingly no provision is made for temporary diminution
in the value of such Investments. Current investments are carried at
lower of cost and fair values determined on individual basis
7) Inventories: Inventories are at lower of cost or net realizable
value. Stock of land is valued at lower of cost or net realizable
value. Cost is determined on the weighted average basis, net realizable
value is determined on individual basis.
8) Borrowing Cost: Borrowing Cost that are directly attributable to the
acquisition, construction or production of qualifying assets are
capitalized as part of the cost of such assets. A quality asset is one
that necessarily takes substantial period of time to get ready for
intended use. All other borrowing costs are charged to revenue.
9) Retirement and other employee benefit: Gratuity is accounted for on
cash basis.
10) Provisions, contingent liabilities and contingent assets: A
provision is recognized when the Company has a present obligation as a
results of past events and it is probable that an out flow of resources
will be required to settle the obligation, in respect of which are
reliable estimates can be made. Provisions are not discounted to their
present value and are determined based on estimate required to settle
the obligation at the Balance Sheet date. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Contingent liabilities are disclosed by way of Notes to the account.
Contingent Assets are not recognized.
11) Taxation: Provision for current income tax is made in accordance
with the Income Tax Act,1961. Deferred tax liabilities and assets are
recognized at substantively enacted tax rates, subject to the
consideration of prudence, on timing difference, being the difference
between taxable income and accounting income that original in one
period and are capable of reversal in one or more subsequently period.
12) Impairment: It is a policy of the Company that Impairment loss is
recognized wherever the carrying amount of an asset is in excess of its
recoverable amount and the same is recognized as an expense in the
statement of Profit and Loss and carrying amount of the asset is
reduced to its recoverable amount except for the assets where law suits
are pending for any dispute.
13) Earning Per Share Basic earnings Per Share are calculated by
dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares
outstanding during the period. The weighted average number of equity
shares outstanding during the period are adjusted for any bonus shares
issued during the year and also after the balance sheet date but before
the date the financial statements are approved by the Board Of
Directors. For the purpose of calculating diluted earnings per share,
the net profit for the period attributed to equity shareholders and the
weight average number of share outstanding during the period adjusted
for the effects of all dilutive potential equity shares. The number of
equity shares and potential dilutive equity shares are adjusted for
bonus as appropriate.
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