Mar 31, 2015
1 Basis For Preparation of Financial Statements
The Financial statements are prepared in accordance with the Generally
Accepted Accounting Principles ("GAAP") in India under the historical
cost convention on accrual basis, and are in conformity with mandatory
accounting standards, as prescribed under Section 133 of the Companies
Act, 2013('Act') read with Rule 7 of the Companies (Accounts) Rules,
2014, the provisions of the Act (to the extent notified) and guidelines
issued by the Securities and Exchange Board of India(SEBI).
All assets and Liabilities have been classified as current or
non-current as per the Company's normal operating cycle and other
criteria set out in the Schedule III to the Companies Act, 2013.
2 Revenue Recognition
(A) Domestic Sales are exclusive of Excise Duty
(B) Export sales are inclusive of Exchange Rate Fluctuation on
realisation ( C) CST Reimbursement claims from NEPZ are recorded on
acceptance of claims.
3 Tangible Assets and Intangible Assets
Tangible assets are recorded at cost of acquisition or construction(
Including interest/financial charges, project restructuring cost and
other expenditure incidental and related to such acquisition /
construction).
Intangible Assets are capitalised at cost of acquisition or development
and expenditure incidental and related to such acquisition/development.
4 Depreciation and Amortisation
(a) Depreciation on Tangible Assets is provided on Straight Line method
on the basis of useful lives in the manner prescribed in Schedule - II
of the Companies Act, 2013.
(b) Intangible Asset (Software) is amortised over a period of 6 years.
5 Inventories Inventories are valued on following basis:
Raw Material At Cost
Finished Goods At Cost
Stocks, Spares & Packing Materials At Cost
Work - In - Progress At Estimated Cost
6 Foreign Currency Transactions
Transactions involving Foreign Currency are recorded at the exchange
rates prevailing on the date of transaction. Exchange rate difference
due to difference between recorded rates and net realized rates is
booked in the respective head of account. The bank
balance(Debit/Credit) at the year end revalued at the rates prevailing
as on the close of the year. The other current assets/liabilities
continue to be shown at recorded rates.
7 Employee Benefits
Employee benefits(Bonus, gratuity and leave encashment etc) is
accounted for on cash basis.
8 Borrowing Costs
Borrowing costs that are attributable to the construction/acquisition
of qualifying fixed assets are capitalised as a part of cost of these
assets.
9 Provisions and Contingent Liabilities
In accordance with the Accounting Standard 29(AS 29) as notified by the
Companies Accounting Standard(Rules) 2006
(a) Provisions are made for the present obligations where amount can be
estimated reliably, and
(b) Contingent Liabilities are disclosed for possible obligations
arising out of uncertain events not wholly in control of the company.
Contingent Assets are neither recognised nor disclosed in the financial
statements.
10 Taxes On Income
Income Tax expenses are accrued in accordance with Accounting Standard
- 22 "Accounting for Taxes on Income" as notified by the Companies
Accounting Standard (Rules) 2006, which include Current Tax and
Deferred Tax. Provision for current tax is made after taking into
considerations benefits admissible under the provision of the Income
Tax Act 1961. Deferred income tax reflects the impact of current year
timing difference between taxable income and accounting income for the
year and reversal of timing differences of earlier years. Deferred tax
assets are recognized only to extent, there is a reasonable certainty
that sufficient future taxable income will be available.
11 Earning per Share
Basic earnings per Share is calculated by dividing the net profit or
loss for the year attributable to Equity Shareholders by the weighted
average number of Equity Shares outstanding during the year. For the
purpose of calculating diluted earnings per Share, the net profit or
loss for the year attributable to Equity Shareholders and the weighted
average number of Shares outstanding during the year is adjusted for
the effects of all dilutive potential Equity Shares.
Mar 31, 2013
1 Basis of Accounting
The Financial Statements are prepared in accordance with historical
cost convention and generally accepted accounting principles, thereby
recognising significant items of Income and Expenditure on accrual
basis.
2 Fixed Assets & Depreciation
(a) Fixed Assets are stated at cost including all direct incidental
expenses and pre-operative expenses are also capitalized and
apportioned to fixed assets.
(b) Depreciation on Fixed Assets is provided on straight line method at
the rates and in the manner prescribed in Schedule XIV to the Companies
Act, 1956. Assets acquired under lease agreements are written off over
a period of lease proportionately.
3 Income:
(a) Domestic Sales are exclusive of Excise Duty
(b) Export sales are inclusive of Exchange Rate Fluctuation on
realisation
4 Miscellaneous Expenditure
5 Quality Testing Fee has been treated as differed revenue expenditure
and is J. being written off over a period of five years.
6 Foreign Exchange Transaction
Transaction involving Foreign Exchange are recorded at the rates
prevailing on the date of transaction. Exchange rate difference due to
difference between recorded rates and net realized rates is booked in .
the respective head of account. The bank balance at the yearend are
booked at the rates prevailing as on the close of the year. However,
other current assets / liabilities continue to be shown at recorded
rates.
7 Bonus, Gratuity & Leave Encashment
Bonus, Gratuity & Leave Encashment are accounted on cash basis.
8 CST Reimbursement claims from NEPZ are recorded on acceptance of
claims.
Mar 31, 2011
1. Basic of Accounting
The Financial Statements are prepared in accordance with historical
cost convention and generally accepted accounting principles, thereby
recognising Significant items of income & expenditure by actual basis.
2 Fixed Assets & Depreciation
(a) Fixed Assets are stated at cost including all direct incidental
expenses and pre-operative expenses are also capitalized an apportioned
to fixed assets.
(b) Depreciation of Fixed Assets is provided on straight line method at
the rates and in the manner prescribed in Schedule XIV to the Companies
Act, 1956. Assets acquired under lease agreements are written off over
a period of lease proportionately.
3 Income
(a) Domestic Sales are exclusive of Excise Duty
(b) Export sales are inclusive of Exchange Rale Fluctuation on
realisation
4. Inventories
Inventories are valued on following basis.;
Raw Material At Cost
Finished Goods At Cost
Slock, Spares & Packing Materials At Cost
Work in - Progress At Estimated Cost
5. Miscellaneous Expenditure
Quality testing Fee has been treated as differed revenue expenditure
and is being written off over a period of five years.
6. Foreign Exchange Transactions
Transitions involving Foreign Exchange are recorded at the rates
prevailing on the date of transaction. Exchange rate difference due to
difference between recorded rates and net realised rates is booked in
the respective head of account. The bank balance at the year end are
booked at the rates prevailing as on the close of the year. However,
other current assets / liabilities continue to be shown at recorded
rates.
7. Bonus. Gratuity & Leave Encasement
Bonus & Gratuity & leave Encasement are accounted on cash basis.
8. CST Reimbursment Claim from NEPZ are recorded or acceptance of
claims.
Mar 31, 2010
1. Basis of Accounting
The Financial Statements are prepared under historical cost convention
on accrual basis on the principels of going concern in acordence with
the generally accepted accounting principles, the relevent acounting
standards and the relevent guidance notes issued by the institute of
Chartered Accounts of India (ICAI) and the applicable provisions of the
Companies Act, 1956
2. Use of Estimates
The preperation of financial statements in confirmity with generally
acepted acounting principals requires estimates and and asdumptions to
be made that affect the reported amounts of assets and liabilities on
the date of financial statement and the reported amount of revenues and
expenses during the reporting period . Differences between actual
results and estimates are recognised in the period in which the results
are known / materalise.
Fixed Assets & Depreciation
(a) Fixed Assets are stated at cost including all direct incidental
expenses and pre-operative expenses are also capitalized and
approtioned to fixed assets.
(b) Depreciation on Fixed Assets is provided on straight line method at
the rates and in the manner prescribed in Schedule XIV to the Companies
Act, 1956. Assets acquired under lease agreements are written off over
a period of lease proportionately.
3. Income:
(a) Domestic Sales are exclusive of Excise Duty
(b) Export sales are inclusive of Exchange Rate Fluctuation on
realisation
(c) CST reimbursment from NSEZ are recorded on acceptence of claims.
4. Inventories
Inventories are valued on following basis:
Raw Material At Cost
Finshed Goods At Cost .
Stock, Spares & Packing Materials At Cost
Work - in - Progress At Estimated Cost
5. Miscellaneous Expenditure
Quality Testing Fee has been treated as deffered revenue expenditure
and is being written off over a period of five years.
6. Foreign Exchaqe Transactions
Transations involving Foreign Exchange are recorded at the rates
prevailing on the date of transaction. Exchange rate difference due to
difference between recorded rates and net realised rates is booked in
the respective head of account. The bank balance at the year end are
booked at the ratesprevailing as on the close of the year. However,
other current assets / liabilities continue to be shown at recorded
rates.
7. Bonus. Gratuity &Leave Encashment
Bonus & Gratuity & leave Encashment are accounted on cash basis.
8. Impairment of assets
Managment periodically asseses using external and internal sources
weather there is an indication that assets be impaired. Impairment
occures where the carring value exceeds the preasent value of future
cash flows expect .6 to arise from the continuing use of the assts and
its eventual disposal. The impairment loss to be exensed is determined
as the excess of earring amount over the higher of the assets net sales
value as determined above.
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