A Oneindia Venture
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Accounting Policies of Bombay Oxygen Investments Ltd. Company
Mar 31, 2025
Note 1 Corporate Information
Bombay Oxygen Investments Limited (âthe Companyâ) is a listed Public Company domiciled in India and is incorporated on 3rd October, 1960 under the provisions of the Companies Act applicable in India. The Company is listed on BSE Limited. The Company is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India.
The financial statements of the Company for the year ended 31st March, 2025 were authorised for issue in accordance with resolution of the Board of Directors passed on 28th May, 2025.
Note 2 Significant Accounting Policies
i. Basis of Preparation
The financial statements of the Company have been prepared to comply in all material respects with the Indian Accounting Standards (âInd ASâ) notified under the Companies (Accounting Standards) Rules, 2015 (as amended).
The financial statements have been prepared under the historical cost convention with the exception of certain Financial Assets and Liabilities which have been measured at fair value, on an accrual basis of accounting.
All the assets and liabilities have been classified as current and non-current as per normal operating cycle of the Company and other criteira set out in Schedule III to the Act. Based on the nature of services, the Company ascertained its operating cycle as 12 months for the purpose of current and non-current classification of asset and liabilities.
The Company''s financial statements are reported in Indian Rupees, which is also the Company''s functional currency, and all values are rounded to the nearest lakhs (INR "00,000), except when otherwise indicated.
The Company is covered in the definition of Non-Banking Financial Company as defined in Companies (Indian Accounting Standards) (Amendment) Rules, 2016. As per the format prescribed under Division III of Schedule III to the Companies Act, 2013 on 11th October, 2018, the Company presents the Balance Sheet, the Statement of Profit and Loss and the Statement of Changes in Equity in the order of liquidity.
ii. Accounting Estimates
The preparation of the financial statements, in conformity with the Ind AS, requires the management to make estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of financial statements and the results of operation during the reported year. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates which are recognised in the year in which they are determined.
Estimates and assumptions
The Company has based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the financial statements in the year in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below :
Deferred tax assets
In assessing the realisability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the years in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the year in which the deferred income tax assets are deductible, management believes that the Company will realize the benefits of those deductible differences.
The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward year are reduced.
Defined benefit plans
The cost and present value of the gratuity obligation and compensated absences are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, attrition rate and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
iii. Property, Plant and Equipment
Property, Plant and Equipment are stated at cost of acquisition including attributable interest and finance costs, if any, till the date of acquisition/ installation of the assets less accumulated depreciation and accumulated impairment losses, if any. Subsequent expenditure relating to Property, Plant and Equipment is capitalised only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the Statement of Profit and Loss as incurred. The cost and related accumulated depreciation are eliminated from the financial statements, either on disposal or when retired from active use and the resultant gain or loss are recognised in the Statement of Profit and Loss.
iv. Depreciation/ Amortisation Depreciation/ amortisation is provided :
a) Depreciation on tangible assets is provided on straight line basis considering the useful lives prescribed in Schedule II to the Act on a pro-rata basis. Depreciation on additions and deletions made during the year is provided on pro-rata basis from and upto the date of additions and deletions of the assets respectively.
v. Financial Instruments Classification
A Financial instrument is any contract that gives rise to a financial asset of one entity and financial liability or equity instruments of another entity. Financial Assets, other than equity, are classified into, Financial Assets at Fair Value Through Other Comprehensive Income (FVOCI) or Fair Value Through Profit and Loss Account (FVTPL) or at amortised cost. Financial Assets that are equity instruments are classified as FVTPL or FVOCI. Financial Liabilities are classified as amortised cost category and FVTPL.
Business Model assessment and Solely Payments of Principal and Interest (SPPI) test :
Classification and measurement of Financial Assets depends on the business model and results of SPPI test. The Company determines the business model at a level that reflects how groups of Financial Assets are managed together to achieve a particular business objective. This assessment includes judgement reflecting all relevant evidence including.
- How the performance of the business model and the Financial Assets held within that business model are evaluated and reported to the entity''s Key Management Personnel.
- The risks that affect the performance of the business model (and the Financial Assets held within that business model) and, in particular, the way those risks are managed.
- How managers of the business are compensated (for example, whether the compensation is based on the fair value of the assets managed or on the contractual cash flows collected).
- The expected frequency, value and timing of sales are also important aspects of the Company''s assessment.
If cash flows after initial recognition are realised in a way that is different from the Company''s original expectations, the Company does not change the classification of the remaining Financial Assets held in that business model, but incorporates such information when assessing newly originated or newly purchased Financial Assets going forward.
a) Financial Assets Initial Recognition
The classification of financial instruments at initial recognition depends on their contractual terms and the business model for managing the instruments.
Financial Assets and Financial Liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of Financial Assets and Financial Liabilities (other than Financial Assets and Financial Liabilities at FVTPL) are added to or deducted from the fair value of the Financial Assets or Financial Liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of Financial Assets or Financial Liabilities at FVTPL are recognised immediately in the Statement of Profit or Loss.
Financial Assets and Financial Liabilities, with the exception of Loans, Debt Securities and Deposits are recognised on the trade date i.e. when a Company becomes a party to the contractual provisions of the instruments. Loans, Debt Securities and Deposits are recognised when the funds are transferred to the customers account. Trade Receivables are measured at the transaction price.
Subsequent Measurement
For purposes of subsequent measurement, Financial Assets are classified in following categories : Financial Assets at Amortised Cost
Financial Assets having contractual terms that give rise on specified dates to cash flows that are Solely Payments of Principal and Interest on the principal outstanding and that are held within a business model whose objective is to hold such assets in order to collect such contractual cash flows are classified in this category. Subsequently these are measured at amortised cost using effective interest method less any impairment losses.
Debt Instruments at FVOCI
Debt instruments that are measured at FVOCI have contractual terms that give rise on specified dates to cash flows that are Solely Payments of Principal and Interest on principal outstanding and that are held within a business model whose objective is achieved by both collecting contractual cash flows and selling Financial Assets. These instruments largely comprise long-term investments made by the Company. FVOCI debt instruments are subsequently measured at fair value with gains and losses arising due to changes in fair value recognised in OCI. Interest income and gains and losses are recognised in profit or loss in the same manner as for Financial Assets measured at amortised cost. On derecognition, cumulative gains or losses previously recognised in OCI are reclassified from OCI to profit or loss.
Equity Instruments at FVOCI
These include Financial Assets that are equity instruments as defined in Ind AS 109 âFinancial Instrumentsâ and are not held for trading and where the Company''s management has elected to irrevocably designated the same as Equity instruments at FVOCI upon initial recognition. Subsequently, these are measured at fair value and changes therein are recognised directly in Other Comprehensive Income, net of applicable income taxes. Gains and losses on these equity instruments are never recycled to profit or loss. Dividends from these equity investments are recognised in the statement of profit and loss when the right to receive the payment has been established.
Fair Value Through Profit and Loss Account
Financial Assets are measured at FVTPL unless it is measured at amortised cost or at FVOCI on initial recognition. The transaction costs directly attributable to the acquisition of Financial Assets at Fair Value Through Profit or Loss are immediately recognised in profit or loss.
Impairment of Financial Assets
In accordance with Ind AS 109, the Company applies the Expected Credit Loss (âECLâ) model for measurement and recognition of impairment loss on Financial Assets and credit risk exposures.
The Company follows â simplified approach'' for recognition of impairment loss allowance on trade receivables. Simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECL at each reporting date, right from its initial recognition.
For recognition of impairment loss on other Financial Assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent year, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.
ECL is the difference between all contractual cash flows that are due to the group in accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR. Lifetime ECL are the Expected Credit Losses resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that are possible within 12 months after the reporting date.
ECL impairment loss allowance (or reversal) recognised during the year is recognised as income/ expense in the Statement of Profit and Loss.
De-recognition of Financial Assets
The Company de-recognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all risks and rewards of ownership of the asset to another entity.
If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognizes its retained interest in the assets and an associated liability for amounts it may have to pay.
If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralised borrowing for the proceeds received.
b) Equity Instruments and Financial Liabilities Classification as debt or equity
Financial Liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.
Equity Instruments
An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.
Financial Liabilities
1) Initial Recognition
Financial Liabilities are classified, at initial recognition, as Financial Liabilities at FVTPL, Loans and Borrowings and Payables as appropriate. All Financial Liabilities are recognised initially at fair value and, in the case of Loans and Borrowings and Payables, net of directly attributable transaction costs.
2) Subsequent Measurement
The measurement of Financial Liabilities depends on their classification, as described below : Financial Liabilities at FVTPL
Financial Liabilities at FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as at FVTPL. Financial Liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are recognised in the Statement of Profit and Loss.
Financial Liabilities at amortised cost
After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective Interest Rate (âEIRâ) method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognised over the term of the borrowings in the Statement of Profit and Loss.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the Statement of Profit and Loss.
3) De-recognition of Financial Liabilities
Financial Liabilities are de-recognised when the obligation specified in the contract is discharged, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as de-recognition of the original liability and recognition of a new liability. The difference in the respective carrying amounts is recognised in the Statement of Profit and Loss.
c) Offsetting Financial Instruments
Financial Assets and Financial Liabilities are offset and the net amount is reported in the Balance Sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis to realise the assets and settle the liabilities simultaneously.
vi Employee Benefits
a. Defined Contribution Plan
Contributions to defined contribution schemes such as provident fund, employees'' state insurance, labour welfare are charged as an expense based on the amount of contribution required to be made as and when services are rendered by the employees. The above benefits are classified as Defined Contribution Schemes as the Company has no further obligations beyond the monthly contributions.
b. Defined Benefit Plan
The Company also provides for gratuity which is a Defined Benefit Plan, the liabilities of which is determined based on valuations, as at the Balance Sheet date, made by an independent actuary using the projected unit credit method. Re-measurement, comprising of actuarial gains and losses, in respect of gratuity are recognised in the OCI, in the year in which they occur. Re-measurement recognised in OCI are not reclassified to the Statement of Profit and Loss in subsequent years. Past service cost is recognised in the Statement of Profit and Loss in the year of plan amendment or curtailment.
c. Leave entitlement and compensated absences
Accumulated leave which is expected to be utilised within next twelve months, is treated as short term employee benefit. Leave entitlement, other than short term compensated absences, are provided based on a actuarial valuation, similar to that of gratuity benefit. Re-measurement, comprising of actuarial gains and losses, in respect of leave entitlement are recognised in the Statement of Profit and Loss in the year in which they occur.
d. Short term Benefits
Short term employee benefits such as salaries, wages, performance incentives etc. are recognised as expenses at the undiscounted amounts in the Statement of Profit and Loss of the year in which the related service is rendered. Expenses on non-accumulating compensated absences is recognised in the year in which the absences occur.
e. Termination benefits
Termination benefits are recognised as an expense as and when incurred.
vii Inventories
Finished goods produced or purchased are valued at lower of cost and net realisable value. Stores and Spare parts are valued at landed cost determined on First-In-First-Out (FIFO) basis. Plant components are valued at cost.
viii Cash and Cash Equivalents
Cash and cash equivalents in the Balance Sheet comprises of cash at banks and on hand and short term deposits with an original maturity of three month or less, which are subject to an insignificant risk of changes in value.
ix Borrowing Costs
Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Also, the EIR amortisation is included in finance costs. Borrowing costs relating to acquisition, construction or production of a qualifying asset which takes substantial year of time to get ready for its intended use are added to the cost of such asset to the extent they relate to the year till such assets are ready to be put to use. All other borrowing costs are expensed in the Statement of Profit and Loss in the year in which they occur.
x Foreign Exchange Translation and Accounting of Foreign Exchange Transaction
a. Initial Recognition
Foreign currency transactions are initially recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction.
b. Conversion
Monetary assets and liabilities denominated in foreign currencies are reported using the closing rate at the reporting date. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction.
c. Treatment of Exchange Difference
Exchange differences arising on settlement/ restatement of short term foreign currency monetary assets and liabilities of the Company are recognised as income or expense in the Statement of Profit and Loss except those arising from investment in Non Integral operations. Premium or discount in respect of forward contracts is accounted over the year of the contract.
xi Revenue Recognition
The Company recognises revenue from contracts with customers based on a five step model asset out in Ind AS 115, Revenue from Contracts with Customers, to determine when to recognize revenue and at what amount. Revenue is measured based on the consideration specified in the contract with a customer. Revenue from contracts with customers is recognised when services are provided and it is highly probable that a significant reversal of revenue is not expected to occur. Revenue is measured at fair value of the consideration received or receivable. Revenue is recognised when (or as) the Company satisfies a performance obligation by transferring a promised service (i.e. an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset. When (or as) a performance obligation is satisfied, the Company recognizes as revenue the amount of the transaction price (excluding estimates of variable consideration) that is allocated to that performance obligation. The Company applies the five-step approach for recognition of revenue :
⢠Identification of contract(s) with customers;
⢠Identification of the separate performance obligations in the contract;
⢠Determination of transaction price;
⢠Allocation of transaction price to the separate performance obligations; and
⢠Recognition of revenue when (or as) each performance obligation is satisfied.
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Sales comprise, invoiced value of goods sold and services rendered, and are net of value added tax, central sales tax, goods & service tax, trade discount & returns and rebates.
Interest income is recognized on accrual basis.
Dividend income is recognized when the Company''s right to receive dividend is established.
xii Income Tax
Income tax comprises of current and deferred income tax. Income tax is recognised as an expense or income in the Statement of Profit and Loss, except to the extent it relates to items directly recognised in equity or in OCI.
a Current Income Tax
Current income tax is recognised based on the estimated tax liability computed after taking credit for allowances and exemptions in accordance with the Income Tax Act, 1961. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
b Deferred Income Tax
Deferred Tax is determined by applying the Balance Sheet approach. Deferred Tax Assets and Liabilities are recognised for all deductible temporary differences between the financial statements carrying amount of existing assets and liabilities and their respective tax base. Deferred Tax Assets and Liabilities are measured using the enacted tax rates or tax rates that are substantively enacted at the Balance Sheet date. The effect on Deferred Tax Assets and Liabilities of a change in tax rates is recognised in the year that includes the enactment date. Deferred Tax Assets are only recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised. Such assets are reviewed at each Balance Sheet date to reassess realisation.
Deferred Tax Assets and Liabilities are offset when there is a legally enforceable right to offset. Current Tax Assets and Tax Liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
c Minimum Alternative Tax (âMATâ)
Minimum Alternative Tax (âMATâ) credit is recognised as an asset only when and to the extent it is probable that the Company will pay normal income tax during the specified year.
xiii Leases
The firm has adopted Ind AS 116-Leases effective 1st April, 2019, using the modified retrospective method.The firm has applied the standard to its leases with the cumulative impact recognised on the date of initial application (1st April, 2019).
The firm''s lease asset classes primarily consist of leases for Land.The firm assesses whether a contract is or contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a year of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the firm assesses whether :
(i) the contract involves the use of an identified asset;
(ii) the firm has substantially all of the economic benefits from use of the asset through the year of the lease and
(iii) the firm has the right to direct the use of the asset.
At the date of commencement of the lease, the firm recognises a Right-Of-Use asset (âROUâ) and a corresponding lease liability for all lease arrangements in which it is a lessee,except for leases with a term of twelve months or less (short term leases) and leases of low value assets. For these short term and leases of low value assets, the firm recognises the lease payments as an operating expense on a straight line basis over the term of the lease.
The Right-Of-Use assets are initially recognised at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses, if any.
Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset.
The lease liability is initially measured at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates. The lease liability is subsequently remeasured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made.
A lease liability is remeasured upon the occurrence of certain events such as a change in the lease term or a change in an index or rate used to determine lease payments. The remeasurement normally also adjusts the leased assets. Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows. The Company has no lease assets during the year.
xiv Impairment of Non-Financial Assets
As at each Balance Sheet date, the Company assesses whether there is an indication that a non-financial asset may be impaired and also whether there is an indication of reversal of impairment loss recognised in the previous years. If any indication exists, or when annual impairment testing for an asset is required, the Company determines the recoverable amount and impairment loss is recognised when the carrying amount of an asset exceeds its recoverable amount.
Recoverable amount is determined :
- In case of an individual asset, at the higher of the assets'' fair value less cost to sell and value in use; and
- In case of cash generating unit (a group of assets that generates identified, independent cash flows), at the higher of cash generating unit''s fair value less cost to sell and value in use.
In assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specified to the asset. In determining fair value less cost to sell, recent market transaction are taken into account. If no such transaction can be identified, an appropriate valuation model is used.
Impairment losses of continuing operations, including impairment on inventories, are recognised in the Statement of Profit and Loss, except for properties previously revalued with the revaluation taken to OCI. For such properties, the impairment is recognised in OCI up to the amount of any previous revaluation.When the Company considers that there are no realistic prospects of recovery of the asset, the relevant amounts are written off. If the amount of impairment loss subsequently decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, then the previously recognised impairment loss is reversed through the Statement of Profit and Loss.
xv Trade Receivables
A receivable is classified as a ''Trade Receivable'' if it is in respect of the amount due on account of goods sold or services rendered in the normal course of business. Trade Receivables are recognised initially at fair value and subsequently measured at amortised cost using the Effective Interest Rate method, less provision for impairment.
xvi Trade Payables
A payable is classified as a "Trade Payable'' if it is in respect of the amount due on account of goods purchased or services received in the normal course of business. These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year which are unpaid. These amounts are unsecured and are usually settled as per the payment terms stated in the contract. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting year. They are recognised initially at their fair value and subsequently measured at amortised cost using the Effective Interest Rate method.
xvii Non-current assets held for sale and discontinued operations
Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits, Financial Assets, etc., which are specifically exempt from this requirement.
Non-current assets classified as held for sale are presented separately from the other assets in the Balance Sheet.
A discontinued operation is a component of the Company that has been disposed of or is classified as held for sale and that represents a separate major line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale.The results of discontinued operations are presented separately in the statement of profit and loss.
xviii Earnings Per Share
Basic earnings per share is computed by dividing the net profit or loss for the year attributable to the equity shareholders of the Company by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year and for all years presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources.
Diluted earnings per share is computed by dividing the net profit or loss for the year attributable to the equity shareholders of the Company and weighted average number of equity shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares).
xix Provisions, Contingent Liabilities and Contingent Assets
A provision is recognised when the Company has a present obligation (legal or constructive) as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made of the amount of obligation. Provisions (excluding gratuity and compensated absences) are determined based on management''s estimate required to settle the obligation at the Balance Sheet date. In case the time value of money is material, provisions are discounted using a current pre-tax rate that reflects the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. These are reviewed at each Balance Sheet date and adjusted to reflect the current management estimates.
Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose existence would be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. A contingent liability also arises, in rare cases, where a liability cannot be recognised because it cannot be measured reliably. Contingent assets are disclosed in the financial statements.
Mar 31, 2024
Note 1. Corporate Information
Bombay Oxygen Investments Limited ("the Company") is a listed public Company domiciled in India and is incorporated on 3rd October, 1960 under the provisions of the Companies Act applicable in India. The Company is listed on BSE Limited. The Company is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India.
The financial statements of the Company for the year ended 31st March, 2024 were authorised for issue in accordance with resolution of the Board of Directors passed on 30th April, 2024.
Note 2. Significant Accounting Policies
i Basis of Preparation
The financial statements of the Company have been prepared to comply in all material respects with the Indian Accounting Standards ("Ind AS") notified under the Companies (Accounting Standards) Rules, 2015 (as amended).
The financial statements have been prepared under the historical cost convention with the exception of certain Financial Assets and Liabilities which have been measured at fair value, on an accrual basis of accounting.
All the assets and liabilities have been classified as current and non-current as per normal operating cyscle of the Company and other criteira set out in Schedule III to the Act. Based on the nature of services, the Company ascertained its operating cycle as 12 months for the purpose of current and non-current classification of asset and liabilities.
The Company''s financial statements are reported in Indian Rupees, which is also the Company''s functional currency, and all values are rounded to the nearest lakhs (INR ''00,000), except when otherwise indicated.
The Company is covered in the definition of Non-Banking Financial Company as defined in Companies (Indian Accounting Standards) (Amendment) Rules, 2016. As per the format prescribed under Division III of Schedule III to the Companies Act, 2013 on 11th October, 2018, the Company presents the Balance Sheet, the Statement of Profit and Loss and the Statement of Changes in Equity in the order of liquidity.
ii Accounting Estimates
The preparation of the financial statements, in conformity with the Ind AS, requires the management to make estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of financial statements and the results of operation during the reported year. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates which are recognised in the year in which they are determined.
Estimates and assumptions
The Company has based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the financial statements in the year in which changes are made and, if material, their effects are disclosed in the notes to the financial statements. The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below :
Deferred tax assets
In assessing the realisability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the years in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the year in which the deferred income tax assets are deductible, management believes that the Company will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward year are reduced.
The cost and present value of the gratuity obligation and compensated absences are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, attrition rate and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
iii Property, Plant and Equipment
Property, Plant and Equipment are stated at cost of acquisition including attributable interest and finance costs, if any, till the date of acquisition/ installation of the assets less accumulated depreciation and accumulated impairment losses, if any. Subsequent expenditure relating to Property, Plant and Equipment is capitalised only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the Statement of Profit and Loss as incurred. The cost and related accumulated depreciation are eliminated from the financial statements, either on disposal or when retired from active use and the resultant gain or loss are recognised in the Statement of Profit and Loss.
iv Depreciation/ Amortisation Depreciation/ amortisation is provided :
Depreciation on tangible assets is provided on straight line basis considering the useful lives prescribed in Schedule II to the Act on a pro-rata basis. Depreciation on additions and deletions made during the year is provided on pro-rata basis from and upto the date of additions and deletions of the assets respectively.
v Financial Instruments Classification
A Financial instrument is any contract that gives rise to a financial asset of one entity and financial liability or equity instruments of another entity. Financial Assets, other than equity, are classified into, Financial Assets at Fair Value Through Other Comprehensive Income (FVOCI) or Fair Value Through Profit and Loss Account (FVTPL) or at amortised cost.Financial Assets that are equity instruments are classified as FVTPL or FVOCI. Financial Liabilities are classified as amortised cost category and FVTPL.
Business Model assessment and Solely Payments of Principal and Interest (SPPI) test :
Classification and measurement of Financial Assets depends on the business model and results of SPPI test. The Company determines the business model at a level that reflects how groups of Financial Assets are managed together to achieve a particular business objective. This assessment includes judgement reflecting all relevant evidence including;
- How the performance of the business model and the Financial Assets held within that business model are evaluated and reported to the entity''s Key Management Personnel.
- The risks that affect the performance of the business model (and the Financial Assets held within that business model) and, in particular, the way those risks are managed.
- How managers of the business are compensated (for example, whether the compensation is based on the fair value of the assets managed or on the contractual cash flows collected).
- The expected frequency, value and timing of sales are also important aspects of the Company''s assessment.
If cash flows after initial recognition are realised in a way that is different from the Company''s original expectations, the Company does not change the classification of the remaining Financial Assets held in that business model, but incorporates such information when assessing newly originated or newly purchased Financial Assets going forward.
The classification of financial instruments at initial recognition depends on their contractual terms and the business model for managing the instruments.
Financial Assets and Financial Liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of Financial Assets and Financial Liabilities (other than Financial Assets and Financial Liabilities at FVTPL) are added to or deducted from the fair value of the Financial Assets or Financial Liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of Financial Assets or Financial Liabilities at FVTPL are recognised immediately in the Statement of Profit or Loss.
Financial Assets and Financial Liabilities, with the exception of Loans, Debt Securities and Deposits are recognised on the trade date i.e. when a Company becomes a party to the contractual provisions of the instruments. Loans, Debt Securities and Deposits are recognised when the funds are transferred to the customers account. Trade Receivables are measured at the transaction price.
For purposes of subsequent measurement, Financial Assets are classified in following categories : Financial Assets at Amortised Cost
Financial Assets having contractual terms that give rise on specified dates to cash flows that are Solely Payments of Principal and Interest on the principal outstanding and that are held within a business model whose objective is to hold such assets in order to collect such contractual cash flows are classified in this category. Subsequently these are measured at amortised cost using effective interest method less any impairment losses.
Debt instruments that are measured at FVOCI have contractual terms that give rise on specified dates to cash flows that are Solely Payments of Principal and Interest on principal outstanding and that are held within a business model whose objective is achieved by both collecting contractual cash flows and selling Financial Assets. These instruments largely comprise long-term investments made by the Company. FVOCI debt instruments are subsequently measured at fair value with gains and losses arising due to changes in fair value recognised in OCI. Interest income and gains and losses are recognised in profit or loss in the same manner as for Financial Assets measured at amortised cost. On derecognition, cumulative gains or losses previously recognised in OCI are reclassified from OCI to profit or loss.
These include Financial Assets that are equity instruments as defined in Ind AS 109 âFinancial Instrumentsâ and are not held for trading and where the Company''s management has elected to irrevocably designated the same as Equity instruments at FVOCI upon initial recognition. Subsequently, these are measured at fair value and changes therein are recognised directly in Other Comprehensive Income, net of applicable income taxes.Gains and losses on these equity instruments are never recycled to profit or loss. Dividends from these equity investments are recognised in the statement of profit and loss when the right to receive the payment has been established.
Fair Value Through Profit and Loss Account
Financial Assets are measured at FVTPL unless it is measured at amortised cost or at FVOCI on initial recognition. The transaction costs directly attributable to the acquisition of Financial Assets at Fair Value Through Profit or Loss are immediately recognised in profit or loss.
Impairment of Financial Assets
In accordance with Ind AS 109, the Company applies the Expected Credit Loss ("ECL") model for measurement and recognition of impairment loss on Financial Assets and credit risk exposures.
The Company follows âsimplified approach'' for recognition of impairment loss allowance on trade receivables. Simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECL at each reporting date, right from its initial recognition.
For recognition of impairment loss on other Financial Assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent year, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.
ECL is the difference between all contractual cash flows that are due to the group in accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR. Lifetime ECL are the Expected Credit Losses resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that are possible within 12 months after the reporting date.
ECL impairment loss allowance (or reversal) recognised during the year is recognised as income/ expense in the Statement of Profit and Loss.
De-recognition of Financial Assets
The Company de-recognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all risks and rewards of ownership of the asset to another entity.
If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognizes its retained interest in the assets and an associated liability for amounts it may have to pay.
If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralised borrowing for the proceeds received.
b) Equity Instruments and Financial Liabilities Classification as debt or equity
Financial Liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.
Equity Instruments
An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.
Financial Liabilities1) Initial Recognition
Financial Liabilities are classified, at initial recognition, as Financial Liabilities at FVTPL, Loans and Borrowings and Payables as appropriate. All Financial Liabilities are recognised initially at fair value and, in the case of Loans and Borrowings and Payables, net of directly attributable transaction costs.
The measurement of Financial Liabilities depends on their classification, as described below : Financial Liabilities at FVTPL
Financial Liabilities at FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as at FVTPL. Financial Liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are recognised in the Statement of Profit and Loss.
After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective Interest Rate ("EIR") method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognised over the term of the borrowings in the Statement of Profit and Loss.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the Statement of Profit and Loss.
3) De-recognition of Financial Liabilities
Financial Liabilities are de-recognised when the obligation specified in the contract is discharged, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as de-recognition of the original liability and recognition of a new liability. The difference in the respective carrying amounts is recognised in the Statement of Profit and Loss.
c) Offsetting Financial Instruments
Financial Assets and Financial Liabilities are offset and the net amount is reported in the Balance Sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis to realise the assets and settle the liabilities simultaneously.
vi Employee Benefits
Contributions to defined contribution schemes such as provident fund, employees'' state insurance, labour welfare are charged as an expense based on the amount of contribution required to be made as and when services are rendered by the employees. The above benefits are classified as Defined Contribution Schemes as the Company has no further obligations beyond the monthly contributions.
The Company also provides for gratuity which is a Defined Benefit Plan, the liabilities of which is determined based on valuations, as at the Balance Sheet date, made by an independent actuary using the projected unit credit method. Re-measurement, comprising of actuarial gains and losses, in respect of gratuity are recognised in the OCI, in the year in which they occur. Re-measurement recognised in OCI are not reclassified to the Statement of Profit and Loss in subsequent years. Past service cost is recognised in the Statement of Profit and Loss in the year of plan amendment or curtailment.
c Leave entitlement and compensated absences
Accumulated leave which is expected to be utilised within next twelve months, is treated as short term employee benefit. Leave entitlement, other than short term compensated absences, are provided based on an actuarial valuation, similar to that of gratuity benefit. Re-measurement, comprising of actuarial gains and losses, in respect of leave entitlement are recognised in the Statement of Profit and Loss in the year in which they occur.
Short term employee benefits such as salaries, wages, performance incentives etc. are recognised as expenses at the undiscounted amounts in the Statement of Profit and Loss of the year in which the related service is rendered. Expenses on non-accumulating compensated absences is recognised in the year in which the absences occur.
Termination benefits are recognised as an expense as and when incurred.
vii Inventories
Finished goods produced or purchased are valued at lower of cost and net realisable value. Stores and Spare parts are valued at landed cost determined on First-In-First-Out (FIFO) basis. Plant components are valued at cost.
viii Cash and Cash Equivalents
Cash and cash equivalents in the Balance Sheet comprises of cash at banks and on hand and short term deposits with an original maturity of three month or less, which are subject to an insignificant risk of changes in value.
Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Also, the EIR amortisation is included in finance costs. Borrowing costs relating to acquisition, construction or production of a qualifying asset which takes substantial year of time to get ready for its intended use are added to the cost of such asset to the extent they relate to the year till such assets are ready to be put to use. All other borrowing costs are expensed in the Statement of Profit and Loss in the year in which they occur.
x Foreign Exchange Translation and Accounting of Foreign Exchange Transaction a Initial Recognition
Foreign currency transactions are initially recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction.
b Conversion
Monetary assets and liabilities denominated in foreign currencies are reported using the closing rate at the reporting date. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction.
c Treatment of Exchange Difference
Exchange differences arising on settlement/ restatement of short term foreign currency monetary assets and liabilities of the Company are recognised as income or expense in the Statement of Profit and Loss except those arising from investment in Non Integral operations. Premium or discount in respect of forward contracts is accounted over the year of the contract.
The Company recognises revenue from contracts with customers based on a five step model asset out in Ind AS 115, Revenue from Contracts with Customers, to determine when to recognize revenue and at what amount. Revenue is measured based on the consideration specified in the contract with a customer. Revenue from contracts with customers is recognised when services are provided and it is highly probable that a significant reversal of revenue is not expected to occur. Revenue is measured at fair value of the consideration received or receivable. Revenue is recognised when (or as) the Company satisfies a performance obligation by transferring a promised service (i.e. an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset. When (or as) a performance obligation is satisfied, the Company recognizes as revenue the amount of the transaction price (excluding estimates of variable consideration) that is allocated to that performance obligation.
The Company applies the five-step approach for recognition of revenue :
⢠Identification of contract(s) with customers;
⢠Identification of the separate performance obligations in the contract;
⢠Determination of transaction price;
⢠Allocation of transaction price to the separate performance obligations; and
⢠Recognition of revenue when (or as) each performance obligation is satisfied.
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Sales comprise, invoiced value of goods sold and services rendered, and are net of value added tax, central sales tax, goods & service tax, trade discount & returns and rebates.
Interest income is recognized on accrual basis.
Dividend income is recognized when the Company''s right to receive dividend is established.
Income tax comprises of current and deferred income tax. Income tax is recognised as an expense or income in the Statement of Profit and Loss, except to the extent it relates to items directly recognised in equity or in OCI.
Current income tax is recognised based on the estimated tax liability computed after taking credit for allowances and exemptions in accordance with the Income Tax Act, 1961. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
Deferred Tax is determined by applying the Balance Sheet approach. Deferred Tax Assets and Liabilities are recognised for all deductible temporary differences between the financial statements'' carrying amount of existing assets and liabilities and their respective tax base. Deferred Tax Assets and Liabilities are measured using the enacted tax rates or tax rates that are substantively enacted at the Balance Sheet date. The effect on Deferred Tax Assets and Liabilities of a change in tax rates is recognised in the year that includes the enactment date. Deferred Tax Assets are only recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised. Such assets are reviewed at each Balance Sheet date to reassess realisation.
Deferred Tax Assets and Liabilities are offset when there is a legally enforceable right to offset. Current Tax Assets and Tax Liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
c Minimum Alternative Tax ("MAT")
Minimum Alternative Tax ("MAT") credit is recognised as an asset only when and to the extent it is probable that the Company will pay normal income tax during the specified year.
The firm has adopted Ind AS 116-Leases effective 1st April, 2019, using the modified retrospective method.The firm has applied the standard to its leases with the cumulative impact recognised on the date of initial application (1st April, 2019).
The firm''s lease asset classes primarily consist of leases for Land.The firm assesses whether a contract is or contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a year of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the firm assesses whether :
(i) the contract involves the use of an identified asset ;
(ii) the firm has substantially all of the economic benefits from use of the asset through the year of the lease and
(iii) the firm has the right to direct the use of the asset.
At the date of commencement of the lease, the firm recognises a Right-Of-Use asset (âROUâ) and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short term leases) and leases of low value assets. For these short term and leases of low value assets, the firm recognises the lease payments as an operating expense on a straight line basis over the term of the lease.
The Right-Of-Use assets are initially recognised at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses, if any.
Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset.
The lease liability is initially measured at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates. The lease liability is subsequently remeasured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made.
A lease liability is remeasured upon the occurrence of certain events such as a change in the lease term or a change in an index or rate used to determine lease payments. The remeasurement normally also adjusts the leased assets. Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows. The Company has no lease assets during the year.
xiv Impairment of Non-Financial Assets
As at each Balance Sheet date, the Company assesses whether there is an indication that a non-financial asset may be impaired and also whether there is an indication of reversal of impairment loss recognised in the previous years. If any indication exists, or when annual impairment testing for an asset is required, the Company determines the recoverable amount and impairment loss is recognised when the carrying amount of an asset exceeds its recoverable amount.
Recoverable amount is determined :
- In case of an individual asset, at the higher of the assets'' fair value less cost to sell and value in use; and
- In case of cash generating unit (a group of assets that generates identified, independent cash flows), at the higher of cash generating unit''s fair value less cost to sell and value in use.
In assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specified to the asset. In determining fair value less cost to sell, recent market transaction are taken into account. If no such transaction can be identified, an appropriate valuation model is used.
Impairment losses of continuing operations, including impairment on inventories, are recognised in the Statement of Profit and Loss, except for properties previously revalued with the revaluation taken to OCI. For such properties, the impairment is recognised in OCI up to the amount of any previous revaluation. When the Company considers that there are no realistic prospects of recovery of the asset, the relevant amounts are written off. If the amount of impairment loss subsequently decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, then the previously recognised impairment loss is reversed through the Statement of Profit and Loss.
A receivable is classified as a âTrade Receivable'' if it is in respect of the amount due on account of goods sold or services rendered in the normal course of business. Trade Receivables are recognised initially at fair value and subsequently measured at amortised cost using the Effective Interest Rate method, less provision for impairment.
xvi Trade Payables
A payable is classified as a âTrade Payable'' if it is in respect of the amount due on account of goods purchased or services received in the normal course of business. These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year which are unpaid. These amounts are unsecured and are usually settled as per the payment terms stated in the contract. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting year. They are recognised initially at their fair value and subsequently measured at amortised cost using the Effective Interest Rate method.
xvii Non-current assets held for sale and discontinued operations
Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits, Financial Assets, etc., which are specifically exempt from this requirement.
Non-current assets classified as held for sale are presented separately from the other assets in the Balance Sheet.
A discontinued operation is a component of the Company that has been disposed of or is classified as held for sale and that represents a separate major line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale.The results of discontinued operations are presented separately in the statement of profit and loss.
Basic earnings per share is computed by dividing the net profit or loss for the year attributable to the equity shareholders of the Company by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year and for all years presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources.
Diluted earnings per share is computed by dividing the net profit or loss for the year attributable to the equity shareholders of the Company and weighted average number of equity shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares).
xix Provisions, Contingent Liabilities and Contingent Assets
A provision is recognised when the Company has a present obligation (legal or constructive) as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made of the amount of obligation. Provisions (excluding gratuity and compensated absences) are determined based on management''s estimate required to settle the obligation at the Balance Sheet date. In case the time value of money is material, provisions are discounted using a current pre-tax rate that reflects the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. These are reviewed at each Balance Sheet date and adjusted to reflect the current management estimates.
Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose existence would be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. A contingent liability also arises, in rare cases, where a liability cannot be recognised because it cannot be measured reliably. Contingent assets are disclosed in the financial statements.
Mar 31, 2018
Note 1.1 Significant Accounting Policies
i Basis of Preparation
The financial statements of the Company have been prepared to comply in all material respects with the Indian accounting Standards (âInd Asâ) notified under the Companies (accounting Standards) Rules, 2015.
The financial statements for all periods upto and including year ended 31st March, 2017 were prepared in accordance with the Companies (accounting Standards) Rules, 2006 notified under Section 133 of the Companies act (âthe actâ), read with Rule 7 of the Companies (accounts) Rules, 2014 (as amended) (âprevious GMPâ). The financial statements for the year ended 31st March, 2018 are the first financial statements prepared by the Company in accordance with Ind As. Refer note 2.2 for information on how the Company adopted Ind As.
The financial statements have been prepared under the historical cost convention with the exception of certain financial assets and liabilities which have been measured at fair value, on an accrual basis of accounting.
Ah the assets and liabilities have been classified as current and non-current as per normal operating cycle of the Company and other criteria set out in Schedule III to the Act. Based on nature of services, the Company ascertained its operating cycle as 12 months for the purpose of current and non-current classification of asset and liabilities.
The Company''s financial statements are reported in Indian Rupees, which is also the Companyâs functional currency, and all values are rounded to the nearest thousands (INR ''000), except when otherwise indicated.
ii accounting Estimates
The preparation of the financial statements, in conformity with the Ind AS, requires the management to make estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of financial statements and the results of operation during the reported period. Although these estimates are based upon managementâs best knowledge of current events and actions, actual results could differ from these estimates which are recognised in the period in which they are determined.
estimates and assumptions
The Company has based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements. The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year,are described below :
Deferred tax assets
I n assessing the realisability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets are deductible, management believes that the Company will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced.
Defined benefit plans
The cost and present value of the gratuity obligation and compensated absences are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, attrition rate and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. Ah assumptions are reviewed at each reporting date.
iii Property, Plant and Equipment
Property, Plant and Equipment are stated at cost of acquisition including attributable interest and finance costs, if any, till the date of acquisition/installation of the assets less accumulated depreciation and accumulated impairment losses, if any. Subsequent expenditure relating to Property, Plant and Equipment is capitalised only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. Ah other repairs and maintenance costs are charged to the Statement of Profit and Loss as incurred. The cost and related accumulated depreciation are eliminated from the financial statements, either on disposal or when retired from active use and the resultant gain or loss are recognised in the Statement of Profit and Loss.
On transition to Ind As, the Company has opted to continue with the carrying values measured under the previous GAAP as at 1st April, 2016 of its Property, Plant and equipment and use that carrying value as the deemed cost.
iv Depreciation/Amortisation
Depreciation/amortisation is provided :
a) Depreciation on tangible assets is provided on straight line basis considering the useful lives prescribed in Schedule II to the Act on a pro-rata basis. Depreciation on additions and deletions made during the year is provided on pro-rata basis from and upto the date of additions and deletions of the assets respectively.
b) Leasehold land at Pune and Nagpur acquired from MIDC are not amortised over the period of lease.
v Financial Instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity :
a) Financial Assets Initial Recognition
I n the case of financial assets, not recorded at Fair Value Through Profit or Loss (FVTPL), financial assets are recognised initially at fair value plus transaction costs that are directly attributable to the acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the asset.
Subsequent Measurement
For purposes of subsequent measurement, financial assets are classified in following categories : financial assets at amortised cost
Financial assets are subsequently measured at amortised cost if these financial assets are held within a business model with an objective to hold these assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Interest income from these financial assets is included in finance income using the effective Interest Rate (âEIRâ) method. Impairment gains or losses arising on these assets are recognised in the Statement of Profit and Loss.
Financial assets Measured at fair Value
Financial assets are measured at fair value through OCI if these financial assets are held within a business model with an objective to hold these assets in order to collect contractual cash flows or to sell these financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognised in the Statement of Profit and Loss.
Financial asset not measured at amortised cost or at fair value through OCI is carried at FVTPL. Impairment of Financial Assets
In accordance with Ind AS 109, the Company applies the expected credit loss (â ECLâ) model for measurement and recognition of impairment loss on financial assets and credit risk exposures.
The Company follows âsimplified approachâ for recognition of impairment loss allowance on trade receivables. Simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECL at each reporting date, right from its initial recognition. For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.
ECL is the difference between all contractual cash flows that are due to the group in accordance with the contract and all the cash flows that the entity expects to receive (i.e. all cash shortfalls), discounted at the original EIR. Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that are possible within 12 months after the reporting date.
ECL impairment loss allowance (or reversal) recognised during the period is recognised as income/expense in the Statement of Profit and Loss.
De-recognition of Financial Assets
The Company de-recognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all risks and rewards of ownership of the asset to another entity.
If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognizes its retained interest in the assets and an associated liability for amounts it may have to pay.
I f the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralised borrowing for the proceeds received.
b) Equity Instruments and Financial Liabilities
Financial liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.
equity Instruments
An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments which are issued for cash are recorded at the proceeds received, net of direct issue costs. Equity instruments which are issued for consideration other than cash are recorded at fair value of the equity instrument.
financial liabilities
1) Initial Recognition
Financial liabilities are classified, at initial recognition, as financial liabilities at FVTPL, loans and borrowings and payables as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.
2) Subsequent Measurement
The measurement of financial liabilities depends on their classification, as described below: financial liabilities at FVTPL
Financial liabilities at FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as at FVTPL. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are recognised in the Statement of Profit and Loss.
financial liabilities at amortised cost
After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective Interest Rate (âEIRâ) method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognised over the term of the borrowings in the Statement of Profit and Loss.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the Statement of Profit and Loss.
3) De-recognition of financial Liabilities
Financial liabilities are de-recognised when the obligation specified in the contract is discharged, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as de-recognition of the original liability and recognition of a new liability. The difference in the respective carrying amounts is recognised in the Statement of Profit and Loss.
c) offsetting financial Instruments
Financial assets and financial liabilities are offset and the net amount is reported in the Balance Sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis to realise the assets and settle the liabilities simultaneously
vi employee Benefits
a Defined contribution Plan
Contributions to defined contribution schemes such as provident fund, employeesâ state insurance, labour welfare are charged as an expense based on the amount of contribution required to be made as and when services are rendered by the employees. The above benefits are classified as Defined Contribution Schemes as the Company has no further obligations beyond the monthly contributions. b Defined Benefit Plan
The Company also provides for gratuity which is a defined benefit plan, the liabilities of which is determined based on valuations, as at the balance sheet date, made by an independent actuary using the projected unit credit method. Re-measurement, comprising of actuarial gains and losses, in respect of gratuity are recognised in the OCI, in the period in which they occur. Re-measurement recognised in OCI are not reclassified to the Statement of Profit and Loss in subsequent periods. Past service cost is recognised in the Statement of Profit and Loss in the year of plan amendment or curtailment. The classification of the Companyâs obligation into current and non-current is as per the actuarial valuation report.
c Leave entitlement and compensated absences
Accumulated leave which is expected to be utilised within next twelve months, is treated as short-term employee benefit. Leave entitlement, other than short term compensated absences, are provided based on a actuarial valuation, similar to that of gratuity benefit. Re-measurement, comprising of actuarial gains and losses, in respect of leave entitlement are recognised in the Statement of Profit and Loss in the period in which they occur. d Short-term Benefits
Short-term employee benefits such as salaries, wages, performance incentives etc. are recognised as expenses at the undiscounted amounts in the Statement of Profit and Loss of the period in which the related service is rendered. Expenses on non-accumulating compensated absences is recognised in the period in which the absences occur.
e Termination benefits
Termination benefits are recognised as an expense as and when incurred.
vii Inventories
Finished goods produced or purchased are valued at lower of cost and net realisable value. Stores and Spare parts are valued at landed cost determined on first-in-first-out (FIFO) basis. Plant components are valued at cost.
viii cash and cash equivalents
Cash and cash equivalents in the Balance Sheet comprises of cash at banks and on hand and short-term deposits with an original maturity of three month or less, which are subject to an insignificant risk of changes in value.
ix Borrowing costs
Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds. Also, the EIR amortisation is included in finance costs.
Borrowing costs relating to acquisition, construction or production of a qualifying asset which takes substantial period of time to get ready for its intended use are added to the cost of such asset to the extent they relate to the period till such assets are ready to be put to use. All other borrowing costs are expensed in the Statement of Profit and Loss in the period in which they occur.
x Foreign exchange translation and accounting of Foreign exchange transaction a Initial Recognition
Foreign currency transactions are initially recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction.
b conversion
Monetary assets and liabilities denominated in foreign currencies are reported using the closing rate at the reporting date. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction.
c treatment of exchange Difference
Exchange differences arising on settlement/restatement of short-term foreign currency monetary assets and liabilities of the Company are recognised as income or expense in the Statement of Profit and Loss except those arising from investment in Non Integral operations. Premium or discount in respect of forward contracts is accounted over the period of the contract.
xi Revenue Recognition
a Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Sales comprise, invoiced value of goods sold and services rendered, and are net of value added tax, central sales tax, goods & service tax, trade discount & returns and rebates.
b I nterest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. Interest income is included under the head âother incomeâ in the Statement of Profit and Loss.
c Dividend income is recognized when the company''s right to receive dividend is established.
xii Income tax
Income tax comprises of current and deferred income tax. Income tax is recognised as an expense or income in the Statement of Profit and Loss, except to the extent it relates to items directly recognised in equity or in OCI.
a current Income tax
Current income tax is recognised based on the estimated tax liability computed after taking credit for allowances and exemptions in accordance with the Income Tax Act, 1961. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
b Deferred Income Tax
Deferred tax is determined by applying the Balance Sheet approach. Deferred tax assets and liabilities are recognised for all deductible temporary differences between the financial statementsâ carrying amount of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using the enacted tax rates or tax rates that are substantively enacted at the Balance Sheet date. The effect on deferred tax assets and liabilities of a change in tax rates is recognised in the period that includes the enactment date. Deferred tax assets are only recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised. Such assets are reviewed at each Balance Sheet date to reassess realisation.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously
c Minimum Alternative Tax (âMATâ)
Minimum Alternative Tax (âMATâ) credit is recognised as an asset only when and to the extent it is probable that the Company will pay normal income tax during the specified period.
xiii Leases
Leases, where the lessor effectively retains substantially all the risks and benefits of ownership over the leased term, are classified as operating leases. Operating lease payments are recognised as an expense in the Statement of Profit and Loss on a straight-line basis over the lease term except where the lease payments are structured to increase in line with expected general inflation. In respect of assets given on operating lease, income is recognized on straight line basis over the lease term. Assets acquired on finance lease are capitalised at fair value or present value of minimum lease payment at the inception of the lease, whichever is lower
xiv Impairment of Non-financial assets
As at each Balance Sheet date, the Company assesses whether there is an indication that a non-financial asset may be impaired and also whether there is an indication of reversal of impairment loss recognised in the previous periods. If any indication exists, or when annual impairment testing for an asset is required, the Company determines the recoverable amount and impairment loss is recognised when the carrying amount of an asset exceeds its recoverable amount.
Recoverable amount is determined:
- In case of an individual asset, at the higher of the assets'' fair value less cost to sell and value in use; and
- I n case of cash generating unit (a group of assets that generates identified, independent cash flows), at the higher of cash generating unit''s fair value less cost to sell and value in use.
I n assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specified to the asset. In determining fair value less cost to sell, recent market transaction are taken into account. If no such transaction can be identified, an appropriate valuation model is used.
Impairment losses of continuing operations, including impairment on inventories, are recognised in the Statement of Profit and Loss, except for properties previously revalued with the revaluation taken to OCI. For such properties, the impairment is recognised in OCI up to the amount of any previous revaluation.
When the Company considers that there are no realistic prospects of recovery of the asset, the relevant amounts are written off. If the amount of impairment loss subsequently decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, then the previously recognised impairment loss is reversed through the Statement of Profit and Loss.
xv Trade receivables
A receivable is classified as a âtrade receivableâ if it is in respect of the amount due on account of goods sold or services rendered in the normal course of business. Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the Effective Interest Rate method, less provision for impairment.
xvi Trade payables
A payable is classified as a âtrade payableâ if it is in respect of the amount due on account of goods purchased or services received in the normal course of business. These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year which are unpaid. These amounts are unsecured and are usually settled as per the payment terms stated in the contract. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the Effective Interest Rate method.
xvii Non-current assets held for sale and discontinued operations
Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits, financial assets, etc., which are specifically exempt from this requirement.
Non-current assets classified as held for sale are presented separately from the other assets in the balance sheet.
A discontinued operation is a component of the Company that has been disposed of or is classified as held for sale and that represents a separate major line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the statement of profit and loss.
xviii earnings Per Share
Basic earnings per share is computed by dividing the net profit or loss for the period attributable to the equity shareholders of the Company by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources.
Diluted earnings per share is computed by dividing the net profit or loss for the period attributable to the equity shareholders of the Company and weighted average number of equity shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares).
xix Provisions, contingent Liabilities and contingent assets
A provision is recognised when the Company has a present obligation (legal or constructive) as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made of the amount of obligation. Provisions (excluding gratuity and compensated absences) are determined based on management''s estimate required to settle the obligation at the Balance Sheet date. In case the time value of money is material, provisions are discounted using a current pre-tax rate that reflects the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. These are reviewed at each Balance Sheet date and adjusted to reflect the current management estimates.
Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose existence would be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. A contingent liability also arises, in rare cases, where a liability cannot be recognised because it cannot be measured reliably.
Mar 31, 2015
(a) Basis of accounting and preparation of financial statements
The financial statements are prepared in conformity with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention except as stated otherwise. The Company follows an
accrual basis of accounting. The financial statements are prepared in
accordance with accounting standards as prescribed under section 133 of
the Companies Act, 2013 ('Act') read with rule 7 of the Companies
(Accounts) Rules, 2014 and the relevant provisions made thereunder.
(b) Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles, requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities, at the date of
the financial statements and the results of operations during the
reporting period. Although these estimates are based upon management's
best knowledge of current events and actions, actual results could
differ from these estimates.
(c) Inventories
Finished goods produced or purchased are valued at lower of cost and
net realisable value. Stores and Spare Parts are valued at landed cost
determined on first-in-first-out (FIFO) basis. Plant components are
valued at cost.
(d) Cash and cash equivalents
Cash and cash equivalents for the purpose of cash flow statement
comprises cash at bank and in hand and short-term investments with an
original maturity of three months or less.
(e) Depreciation on fixed assets and amortisation
Depreciation on fixed assets has been provided based on the useful life
of the asset on straight line basis and in the manner prescribed under
the Schedule II of the Companies Act, 2013. Depreciation on additions
and deletions made during the year is provided on pro-rata basis from
and upto the date of additions and deletions of the assets
respectively.
Leasehold land at Pune, Tarapur and Nagpur acquired from MIDC are not
amortised over the period of lease.
(f) Revenue recognition
Sales comprise, invoiced value of goods sold and services rendered, and
are net of value added tax, central sales tax, trade discount, returns
and rebates.
I nterest income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable. Dividend income
is recognised when right to receive payment is established.
(g) Fixed assets
Fixed Assets are stated at cost or revaluation less accumulated
depreciation.
(h) Foreign currency transactions
Foreign currency transactions are accounted at the exchange rates
prevailing at the date of the transaction. Gains and losses resulting
from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies, are
recognised in the Statement of Profit and Loss. Premium or discount in
respect of forward contracts is accounted over the period of the
contract.
(i) Investments
Long-term investments are stated at cost, except where there is a
diminution in value, other than temporary, in which case the carrying
value is reduced to recognise the decline, by a charge to the Statement
of Profit and Loss. Current investments are stated at lower of cost and
fair value.
(j) Employee benefits
Company's contribution to Provident Fund is charged to Statement of
Profit and Loss on accrual basis. Retirement benefits in the form of
Gratuity are considered as defined benefit obligations and are provided
on the basis of an actuarial valuation, using the projected unit credit
method, ascertained at the year end.
The liability in respect of future payments of leave encashment is
provided on the basis of an actuarial valuation ascertained at the year
end.
(k) Borrowing costs
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for intended use. All other
borrowing costs are charged to revenue.
(l) earnings per share
basic and diluted earnings per share are computed by dividing the net
profit after tax attributable to equity shareholders for the year, with
the weighted average number of equity shares outstanding during the
year.
(m) Taxes on income
Current tax is determined on the profit for the year in accordance with
the provisions of the Income Tax Act, 1961.
Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
gives future economic benefits in the form of adjustment to future
income tax liability, is considered as an asset if there is convincing
evidence that the Company will pay normal income tax. Accordingly, MAT
is recognised as an asset in the balance Sheet when it is probable that
future economic benefit associated with it will flow to the Company.
Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to timing differences that result between the
profits offered for income taxes and the profits as per the financial
statements. Deferred tax assets and liabilities are measured using the
tax rates and the tax laws that have been enacted or substantially
enacted at the balance Sheet date. Deferred tax assets are recognized
only to the extent there is virtual certainty that the assets can be
realized in the future. Deferred tax assets are reviewed as at each
balance Sheet date.
(n) Impairment of assets
The Company assesses at each balance Sheet date whether there is any
indication that an asset may be impaired. If any such indication
exists, the Company estimates the recoverable amount of the asset. If
such recoverable amount of the asset or the recoverable amount of the
cash generating unit to which the asset belongs is less than its
carrying amount, the carrying amount is reduced to its recoverable
amount. The reduction in the carrying amount is treated as an
impairment loss and is recognised in the Statement of Profit and Loss.
If at the balance Sheet date there is an indication that if a
previously assessed impairment loss no longer exists, the recoverable
amount is reassessed and the asset is reflected at the recoverable
amount subject to a maximum of depreciable historical cost.
(o) Provisions, contingent Liabilities & contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities are not recognised as a liability but are
disclosed in the notes. Contingent assets are neither recognised nor
disclosed in the financial statements.
Mar 31, 2014
(a) Basis of accounting and preparation of financial statements
The accounts are prepared on a historical cost convention except as
stated otherwise. The Company follows an accrual basis of accounting.
The fnancial statements are prepared in accordance with accounting
standards as specifed in the Companies (Accounting Standards) Rules,
2006 and the other relevant provisions of the Companies Act, 1956.
(b) Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles, requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities, at the date of
the financial statements and the results of operations during the
reporting period. Although these estimates are based upon management''s
best knowledge of current events and actions, actual results could
differ from these estimates.
(c) Inventories
Finished goods produced or purchased are valued at lower of cost and
net realisable value. Stores and Spare Parts are valued at landed cost
determined on first-in-first-out (FIFO) basis. Plant components are
valued at cost.
(d) Cash and cash equivalents
Cash and cash equivalents for the purpose of cash fow statement
comprises cash at bank and in hand and short-term investments with an
original maturity of three months or less.
(e) Depreciation on fixed assets and amortisation
Depreciation on fixed assets, excluding cylinders, is provided on
Straight Line Method at the rates and in the manner specified in
Schedule XIV of the Companies Act, 1956.
Cylinders acquired prior to 31st March, 1989 and revalued are
depreciated over a useful life of 18 years and cylinders acquired
subsequent to 31st March, 1989 are depreciated on Straight Line Method
at the rates and in the manner specified in Schedule XIV of the
Companies Act, 1956.
Leasehold land at Pune, Tarapur and Nagpur acquired from MIDC are not
amortised over the period of lease.
(f) Revenue recognition
Sales comprise, invoiced value of goods sold and services rendered, and
are net of value added tax, central sales tax, trade discount, returns
and rebates.
Interest income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable. Dividend income
is recognised when right to receive payment is established.
(g) Fixed assets
Fixed Assets are stated at cost or revaluation less accumulated
depreciation.
(h) Foreign currency transactions
Foreign currency transactions are accounted at the exchange rates
prevailing at the date of the transaction. Gains and losses resulting
from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies, are
recognised in the Statement of Profit and Loss. Premium or discount in
respect of forward contracts is accounted over the period of the
contract.
(i) Investments
Long-term investments are stated at cost, except where there is a
diminution in value, other than temporary, in which case the carrying
value is reduced to recognise the decline, by a charge to the Statement
of Profit and Loss. Current investments are stated at lower of cost and
fair value.
(j) Employee benefits
Company''s contribution to Provident Fund is charged to Statement of
Profit and Loss on accrual basis.
Retirement benefits in the form of Gratuity are considered as defined
benefit obligations and are provided on the basis of an actuarial
valuation, using the projected unit credit method, ascertained at the
year end.
The liability in respect of future payments of leave encashment is
provided on the basis of an actuarial valuation ascertained at the year
end.
(k) Borrowing costs
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for intended use. All other
borrowing costs are charged to revenue.
(l) Earnings per share
Basic and diluted earnings per share are computed by dividing the net
profit after tax attributable to equity shareholders for the year, with
the weighted average number of equity shares outstanding during the
year.
(m) Taxes on income
Current tax is determined on the profit for the year in accordance with
the provisions of the Income Tax Act, 1961.
Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
gives future economic benefits in the form of adjustment to future
income tax liability, is considered as an asset if there is convincing
evidence that the Company will pay normal income tax. Accordingly, MAT
is recognised as an asset in the Balance Sheet when it is probable that
future economic benefit associated with it will flow to the Company.
Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to timing differences that result between the
profits offered for income taxes and the profits as per the financial
statements. Deferred tax assets and liabilities are measured using the
tax rates and the tax laws that have been enacted or substantially
enacted at the Balance Sheet date. Deferred tax assets are recognized
only to the extent there is virtual certainty that the assets can be
realized in the future. Deferred tax assets are reviewed as at each
Balance Sheet date.
(n) Impairment of assets
The Company assesses at each Balance Sheet date whether there is any
indication that an asset may be impaired. If any such indication
exists, the Company estimates the recoverable amount of the asset. If
such recoverable amount of the asset or the recoverable amount of the
cash generating unit to which the asset belongs is less than its
carrying amount, the carrying amount is reduced to its recoverable
amount. The reduction in the carrying amount is treated as an
impairment loss and is recognised in the Statement of Profit and Loss.
If at the Balance Sheet date there is an indication that if a
previously assessed impairment loss no longer exists, the recoverable
amount is reassessed and the asset is reflected at the recoverable
amount subject to a maximum of depreciable historical cost.
(o) Provisions, Contingent Liabilities & Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities are not recognised as a liability but are
disclosed in the notes. Contingent assets are neither recognised nor
disclosed in the financial statements.
Mar 31, 2013
(a) Basis of accounting and preparation of financial statements
The accounts are prepared on a historical cost convention except as
stated otherwise. The Company follows an accrual basis of accounting.
The financial statements are prepared in accordance with accounting
standards as specified in the Companies (Accounting Standards) Rules,
2006 and the other relevant provisions of the Companies Act, 1956.
(b) Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles, requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities, at the date of
the financial statements and the results of operations during the
reporting period. Although these estimates are based upon management''s
best knowledge of current events and actions, actual results could
differ from these estimates.
(c) Inventories
Finished goods produced or purchased are valued at lower of cost and
net realisable value. Stores and Spare Parts are valued at landed cost
determined on first-in-first-out (FIFO) basis. Plant components are
valued at cost.
(d) Cash and cash equivalents
Cash and cash equivalents for the purpose of cash flow statement
comprises cash at bank and in hand and short-term investments with an
original maturity of three months or less.
(e) Depreciation on fixed assets and amortisation
Depreciation on fixed assets, excluding cylinders, is provided on
Straight Line Method at the rates and in the manner specified in
Schedule XIV of the Companies Act, 1956.
Cylinders acquired prior to 31st March, 1989 and revalued are
depreciated over a useful life of 18 years and cylinders acquired
subsequent to 31st March, 1989 are depreciated on Straight Line Method
at the rates and in the manner specified in Schedule XIV of the
Companies Act, 1956.
Leasehold land at Pune, Tarapur and Nagpur acquired from MIDC are not
amortised over the period of lease.
(f) Revenue recognition
Sales comprise, invoiced value of goods sold and services rendered, and
are net of value added tax, central sales tax, trade discount, returns
and rebates.
Interest income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable. Dividend income
is recognised when the shareholders'' right to receive dividend is
established by the Balance Sheet date.
(g) Fixed assets
Fixed Assets are stated at cost or revaluation less accumulated
depreciation.
(h) Foreign currency transactions
Foreign currency transactions are accounted at the exchange rates
prevailing at the date of the transaction. Gains and losses resulting
from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies, are
recognised in the Statement of Profit and Loss. Premium or discount in
respect of forward contracts is accounted over the period of the
contract.
(i) Investments
Long-term investments are stated at cost, except where there is a
diminution in value, other than temporary, in which case the carrying
value is reduced to recognise the decline, by a charge to the Statement
of Profit and Loss. Current investments are stated at lower of cost and
fair value.
(j) Employee benefits
Company''s contribution to Provident Fund is charged to Statement of
Profit and Loss on accrual basis.
The liability towards gratuity is determined using the projected unit
credit method. The valuation has been ascertained by the Life Insurance
Corporation of India at the year end.
The liability in respect of future payments of leave encashment is
provided on the basis of an actuarial valuation ascertained at the year
end. -¦¦.-.,''
(k) Borrowing costs
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for intended use. All other
borrowing costs are charged to revenue.
(I) Earnings per share
Basic and diluted earnings per share are computed by dividing the net
profit after tax attributable to equity shareholders for the year, with
the weighted average number of equity shares outstanding during the
year.
(m) Taxes on income
Current tax is determined on the profit for the year in accordance with
the provisions of the Income Tax Act, 1961.
Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
gives future economic benefits in the form of adjustment to future
income tax liability, is considered as an asset if there is convincing
evidence that the Company will pay normal income tax. Accordingly, MAT
is recognised as an asset in the Balance Sheet when it is probable that
future economic benefit associated with it will flow to the Company.
Deferred tax is calculated at the tax rates and laws that have been
enacted or substantially enacted by the Balance sheet date and is
recognised on timing differences that originate in one period and are
capable of reversal in one or more subsequent periods. Deferred tax
assets, subject to consideration of prudence, are recognised and
carried forward only to the extent that they can be realised.
(n) Impairment of assets
The Company assesses at each Balance Sheet date whether there is any
indication that an asset may be impaired. If any such indication
exists, the Company estimates the recoverable amount of the asset, if
such recoverable amount of the asset or the recoverable amount of the
cash generating unit to which the asset belongs is less than its
carrying amount, the carrying amount is reduced to its recoverable
amount. The reduction in the carrying amount is treated as an
impairment loss and is recognised in the Statement of Profit and Loss.
If at the Balance Sheet date there is an indication that if a
previously assessed impairment loss no longer exists, the recoverable
amount is reassessed and the asset is reflected at the recoverable
amount.
(o) Provisions, Contingent Liabilities & Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities are not recognised as a liability but are
disclosed in the notes. Contingent assets are neither recognised nor
disclosed in the financial statements.
Mar 31, 2012
(a) Basis of accounting and preparation of financial statements
The accounts are prepared on a historical cost convention except as
stated otherwise. The Company follows an accrual basis of accounting.
The financial statements are prepared in accordance with accounting
standards as specified in the Companies (Accounting Standards) Rules,
2006 and the other relevant provisions of the Companies Act, 1956.
(b) Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles, requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities, at the date of
the financial statements and the results of operations during the
reporting period. Although these estimates are based upon management's
best knowledge of current events and actions, actual results could
differ from these estimates.
(c) Inventories
Finished goods produced or purchased are valued at lower of cost and
net realisable value. Stores and Spare Parts are valued at landed cost
determined on first-in-first-out (FIFO) basis. Plant components are
valued at cost.
(d) Cash and cash equivalents
Cash and cash equivalents for the purpose of cash flow statement
comprises cash at bank and in hand and short-term investments with an
original maturity of three months or less.
(e) Depreciation on fixed assets and amortisation
Depreciation on fixed assets, excluding cylinders, is provided on
Straight Line Method at the rates and in the manner specified in
Schedule XIV of the Companies Act, 1956.
Cylinders acquired prior to 31st March, 1989 and revalued are
depreciated over a useful life of 18 years and cylinders acquired
subsequent to 31st March, 1989 are depreciated on Straight Line Method
at the rates and in the manner specified in Schedule XIV of the
Companies Act, 1956.
Leasehold land at Pune, Tarapur and Nagpur acquired from MIDC are not
amortised over the period of lease.
(f) Revenue recognition
Sales comprise, invoiced value of goods sold and services rendered, and
are net of value added tax, central sales tax, trade discount, returns
and rebates.
Interest income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable. Dividend income
is recognised when the shareholders' right to receive dividend is
established by the Balance Sheet date.
(g) Fixed assets
Fixed Assets are stated at cost or revaluation less accumulated
depreciation.
(h) Foreign currency transactions
Foreign currency transactions are accounted at the exchange rates
prevailing at the date of the transaction. Gains and losses resulting
from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies, are
recognised in the Statement of Profit and Loss. Premium or discount in
respect of forward contracts is accounted over the period of the
contract.
(i) Investments
Long-term investments are stated at cost, except where there is a
diminution in value, other than temporary, in which case the carrying
value is reduced to recognise the decline. Current investments are
stated at lower of cost and fair value.
(j) Employee benefits
Company's contribution to Provident Fund is charged to Statement of
Profit and Loss on accrual basis.
The liability towards gratuity is determined using the projected unit
credit method. The valuation has been ascertained by the Life Insurance
Corporation of India at the year end.
The liability in respect of future payments of leave encashment is
provided on the basis of an actuarial valuation ascertained at the year
end.
(k) Borrowing costs
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for intended use. All other
borrowing costs are charged to revenue.
(I) Earnings per share
Basic and diluted earnings per share are computed by dividing the net
profit after tax attributable to equity shareholders for the year, with
the weighted average number of equity shares outstanding during the
year.
(m) Taxes on income
Current tax is determined on the profit for the year in accordance with
the provisions of the Income Tax Act, 1961.
Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
gives future economic benefits in the form of adjustment to future
income tax liability, is considered as an asset if there is convincing
evidence that the Company will pay normal income tax. Accordingly, MAT
is recognised as an asset in the Balance Sheet when it is probable that
future economic benefit associated with it will flow to the Company.
Deferred tax is calculated at the tax rates and laws that have been
enacted or substantially enacted by the Balance sheet date and is
recognised on timing differences that originate in one period and are
capable of reversal in one or more subsequent periods. Deferred tax
assets, subject to consideration of prudence, are recognised and
carried forward only to the extent that they can be realised.
(n) Impairment of assets
The Company assesses at each Balance Sheet date whether there is any
indication that an asset may be impaired. If any such indication
exists, the Company estimates the recoverable amount of the asset. If
such recoverable amount of the asset or the recoverable amount of the
cash generating unit to which the asset belongs is less than its
carrying amount, the carrying amount is reduced to its recoverable
amount. The reduction in the carrying amount is treated as an
impairment loss and is recognised in the Statement of Profit and Loss.
If at the Balance Sheet date there is an indication that if a
previously assessed impairment loss no longer exists, the recoverable
amount is reassessed and the asset is reflected at the recoverable
amount.
(o) Provisions, Contingent Liabilities & Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities are not recognised as a liability but are
disclosed in the notes. Contingent assets are neither recognised nor
disclosed in the financial statements.
Mar 31, 2011
(a) Basis of Accounting :
The accounts are prepared under the historical cost convention except
stated otherwise.
(b) Use of Estimates :
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of Operations during the reporting
period end. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ
from these estimates.
(c) Fixed Assets :
Fixed Assets are stated at cost or revaluation less accumulated
depreciation.
(d) Depreciation :
(i) Depreciation on fixed assets (excluding cylinders) is provided on
Straight Line Method at the rates and in the manner specified in
Schedule XIV of the Companies Act, 1956.
(ii) Cylinders acquired prior to 31 st March, 1989 and revalued are
depreciated over a useful life of 18 years and cylinders acquired
subsequent to 31st March, 1989 are depreciated on Straight Line Method
at the rates and in the manner specified in Schedule XIV of the
Companies Act, 1956.
(iii) Leasehold land at Pune, Tarapur and Nagpur acquired from MIDC and
leasehold depot (renewable) are not amortised over the period of lease.
(e) Investments :
Long-term investments are stated at cost, except where there is a
diminution in value, other than temporary, in which case the carrying
value is reduced to recognise the decline. Current investments are
stated at lower of cost and fair value.
(f) Inventories :
Finished goods produced or purchased are valued at lower of cost or net
realisable value. Stores and Spare Parts are valued at landed cost
determined on first-in-first-out (FIFO) basis. Plants components are
valued at cost.
(g) Revenue Recognition :
Sales comprise, invoiced value of goods sold and services rendered, and
are net of value added tax, central sales tax, trade discount, returns
and rebates.
Interest income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable. Dividend income
is recognised when the shareholders' right to receive dividend is
established by the Balance Sheet date.
(h) Retirement Benefits :
Company's contribution to Provident Fund is charged to Profit and Loss
Account on accrual basis.
The liability towards gratuity is determined using the projected unit
credit method. The valuation has been ascertained by the Life Insurance
Corporation of India at the year end.
The liability in respect of future payments of leave encashment is
provided on the basis of an actuarial valuation ascertained at the year
end.
(i) Foreign Currency Transactions :
Foreign currency transactions are accounted at the exchange rates
prevailing at the date of the transaction. Gains and losses resulting
from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies, are
recognised in the Profit and Loss Account. Premium or discount in
respect of forward contracts is accounted over the period of the
contract.
(j) Taxation :
Current tax is determined on the profit of the year in accordance with
the provisions of Income Tax Act, 1961. Deferred tax is calculated at
the tax rates and laws that have been enacted or substantially enacted
by the Balance Sheet date and is recognised on tinning differences that
originate in one period and are capable of reversal in one or more
subsequent periods. Deferred tax assets, subject to consideration of
prudence, are recognised and carried forward only to the extent that
they can be realised.
(k) Impairment of Assets :
The*Company assesses at each Balance Sheet date whether there is any
indication that an asset may be impaired. If any such indication
exists, the Company estimates the recoverable amount of the asset. If
such recoverable amount of the asset or the recoverable amount of the
cash generating unit to which the asset belongs is less than its
carrying amount, the carrying amount is reduced to its recoverable
amount. The reduction in the carrying amount is treated as an
impairment loss and is recognised in the Profit and Loss Account. If at
the Balance Sheet date there is an indication that if a previously
assessed impairment loss no longer exists, the recoverable amount is
reassessed and the asset is reflected at the recoverable amount.
(I) Borrowing costs :
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantial period of time to get ready for intended use. All other
borrowing costs are charged to revenue.
(m) Earnings per Share :
Basic and diluted earnings per share are computed by dividing the net
profit after tax attributable to equity shareholders for the year, with
the weighted number of equity shares outstanding during the year.
(n) Provisions, Contingent Liabilities & Contingent Assets :
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities are not recognised as a liability but are
disclosed in the notes. Contingent assets are neither recognised nor
disclosed in the financial statements.
Mar 31, 2010
(a) Basis of Accounting :
The accounts are prepared under the historical cost convention except
stated otherwise.
(b) Fixed Assets :
Fixed Assets are stated at cost or revaluation less accumulated
depreciation.
(c) Depreciation :
(i) Depreciation on fixed assets (excluding cylinders) is provided on
Straight Line Method at the rates and in the manner specified in
Schedule XIV of the Companies Act, 1956.
(ii) Cylinders acquired prior to 31st March, 1989 and revalued are
depreciated over a useful life of 18 years and cylinders acquired
subsequent to 31st March, 1989 are depreciated on Straight Line Method
at the rates and in the manner specified in Schedule XIV of the
Companies Act, 1956.
(iii) Leasehold land at Pune, Tarapur and Nagpur acquired from MIDC and
leasehold depot (renewable) are not amortised over the period of lease.
(d) Investments :
Long-term investments are stated at cost, except where there is a
diminution in value, other than temporary, in which case the carrying
value is reduced to recognise the decline. Current investments are
stated at lower of cost and fair value.
(e) Inventories :
Finished goods produced or purchased are valued at lower of cost or
market value. Stores and Spare Parts are valued at landed cost
determined on first-in-first-out (FIFO) basis. Plants components are
valued at cost.
(f) Revenue Recognition :
Sales comprise, invoiced value of goods sold and services rendered, and
are net of value added tax, central sales tax, trade discount, returns
and rebates.
(g) Retirement Benefits :
Companys contribution to Provident Fund is charged to Profit and Loss
Account on accrual basis.
The liability towards gratuity is determined using the projected unit
credit method. The valuation has been ascertained by the Life Insurance
Corporation of India at the year end.
The liability in respect of future payments of leave encashment is
provided on the basis of an actuarial valuation ascertained at the year
end.
(h) Foreign Currency Transactions :
The transactions in foreign exchange, other than those covered by
forward contracts, are accounted at the exchange rates prevailing on
the date of the transaction. The overall gain/loss, if any, on
conversion of current assets/liabilities at closing rates on the
balance sheet date, other than those relating to acquisition of fixed
asset is dealt with in the Profit and Loss Account. The latter is
adjusted to the cost of the asset.
(i) Taxation :
Provision for current taxes is made based on the current applicable tax
rates. The Company provides for deferred tax using the liability
method, based on the tax effect of timing differences resulting from
the recognition of items in the financial statements and in estimating
its current income tax provision.
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More Information on Bombay Oxygen Investments Ltd.
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Bombay Oxygen Investments Ltd. Company Details
- Company Profile
- Company History
- Management Team
- Capital Structure
- Product Mix
- Banker/Auditor/Registrar
-
Company History
- BSE Price History
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Bombay Oxygen Investments Ltd. Key Financial Ratios
- Ratios
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Bombay Oxygen Investments Ltd. Results
- Quarterly Results
- Half Yearly Results
- Nine Months Results
- Annual Results
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Bombay Oxygen Investments Ltd. Financial Data
- Audited Results
- Cash Flow
- Balance Sheet
-
Bombay Oxygen Investments Ltd. Reports
- Accounting Policies
- Auditors Report
- Directors Report
- Notes To Account
-
Bombay Oxygen Investments Ltd. Corporate Announcements
- Book Closure
- Dividend
- Board Meetings
- Change of Name
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