Mar 31, 2014
The financial statements are prepared on accrual basis of accounting
and in accordance with the applicable Accounting Standards.
i Revenue Recognition
Revenue is recognized on accrual basis and is inclusive of excise duty
wherever applicable.
ii Foreign Currency Transactions
Foreign Currency transactions are recorded at the rates prevailing on
the date of the transactions. Exchange differences arising on
settlement are recognized in the statement of Profit & Loss.
Outstanding foreign balances are restated at exchange rates prevailing
on the Balance Sheet date.
iii Employee Benefits
Short term employee benefits are estimated and provided for. Further
company''s contribution to Provident Fund, Employees State Insurance
and other funds are determined under the relevant schemes and/or
statute are charged to revenue. Gratuity and Leave encashment are
based on reasonable estimates based on past trend of employee
retrenchment/attrition.
iv Fixed Assets
Fixed Assets are valued at cost. Most of the fixed assets were
revalued in the past earlier years to reflect the true value of such
assets and the incremental appreciation on account of such revaluation
was credited to Fixed Assets Revaluation Reserve in earlier years.
v Depreciation
Depreciation is provided on Written Down value method on all assets at
the appropriate rates in accordance with Schedule XIV to the Companies
Act, 1956. The incremental differential depreciation on account of
revaluation of certain depreciable assets is charged against Fixed
Assets Revaluation Reserve account
vi Borrowing Cost
Interest cost on qualifying asset being an asset necessarily takes a
substantial period of time to get ready for its intended use or sale,
is capitalized at the weighted average rate of the funds borrowed and
utilized for acquisition of such assets.
vii Impairment of Assets
The carrying cost of assets are reviewed at each Balance Sheet date
and if there is any indication of impairment based on
internal/external factors, the same is recognized and provided for.
viii Investments
Investments meant to be held for long term are carried at cost.
ix Inventories
Fertilizer mixtures are valued at lower of cost and net realizable
value following first in first out method. Raw materials, Stores and
Spare parts are valued at weighted-average cost and are inclusive of
excise duty and other taxes wherever applicable
Mar 31, 2013
The financial statements are prepared on accrual basis of accounting
and in accordance with the applicable Accounting Standards.
i Revenue Recognition
Revenue is recognized on accrual basis and is inclusive of excise duty
wherever applicable.
ii Foreign Currency Transactions
Foreign Currency transactions are recorded at the rates prevailing on
the date of the transactions. Exchange differences arising on
settlement are recognized in the statement of Profit & Loss.
Outstanding foreign balances are restated at exchange rates prevailing
on the Balance Sheet date.
iii Employee Benefits
Short term employee benefits are estimated and provided for. Further
Company''s contribution to Provident Fund, Employees State Insurance and
other funds are determined under the relevant schemes and/or statute
are charged to revenue. Gratuity is provided for in the accounts based
on an Actuarial Valuation.
iv Fixed Assets
Fixed Assets are valued at cost. Most of the fixed assets were revalued
in the past earlier years to reflect the true value of such assets and
the incremental appreciation on account of such revaluation was
credited to Fixed Assets Revaluation Reserve in earlier years.
v Depreciation
Depreciation is provided on Written Down value method on all assets at
the appropriate rates in accordance with Schedule XIV to the Companies
Act, 1956. The incremental differential depreciation on account of
revaluation of certain depreciable assets is charged against Fixed
Assets Revaluation Reserve account
vi Borrowing Cost
Interest cost on qualifying asset being an asset necessarily takes a
substantial period of time to get ready for its intended use or sale,
is capitalized at the weighted average rate of the funds borrowed and
utilized for acquisition of such assets.
vii Impairment of Assets
The carrying cost of assets are reviewed at each Balance Sheet date and
if there is any indication of impairment based on internal/external
factors, the same is recognized and provided for.
viii Investments
Investments meant to be held for long term are carried at cost.
ix Inventories
Fertilizer mixtures are valued at lower of cost and net realizable
value following first in first out method. Raw materials, Stores and
Spare parts are valued at weighted-average cost and are inclusive of
excise duty and other taxes wherever applicable
Mar 31, 2012
The financial statements are prepared on accruat basis of accounting
and in accordance with the appli- cable Accounting Standards.
i Revenue Recognition
Revenue is recognized on accrual basis and is inclusive of excise duty
wherever applicable.
ii Foreign Currency Transactions
Foreign Currency transactions are recorded at the rates prevailing on
the date of the transactions. Exchange differences arising on
settlement are recognized in the statement of Profit & Loss . Out-
standing foreign balances are restated at exchange rates prevailing on
the Balance Sheet date.
iii Employee Benefits
Short term employee benefits are estimated and provided for. Further
Company's contribution to Provident Fund, Employees State Insurance
and other funds are determined under the relevant schemes and/or
statute are charged to revenue. Gratuity is provided for in the
accounts.
iv Fixed Assets
Fixed Assets are valued at cost. Most of the fixed assets were revalued
in the past earlier years to reflect the true value of such assets and
the incremental appreciation on account of such revaluation was
credited to Fixed Assets Revaluation Reserve in earlier years.
v Depreciation
Depreciation is provided on Written Down value method on all assets at
the appropriate rates in accor- dance with Schedule XIV to the
Companies Act, 1956. The incremental differential depreciation on
account of revaluation of certain depreciable assets is charged against
Fixed Assets Revaluation Reserve account
vi Borrowing Cost
Interest cost on qualifying asset being an asset necessarily takes a
substantial period of time to get ready for its intended use or sale,
is capitalized at the weighted average rate of the funds borrowed and
utilized for acquisition of such assets.
vii Impairment of Assets
The carrying cost of assets are reviewed at each Balance Sheet date and
if there is any indication of impairment based on internal/external
factors, the same is recognized and provided for.
viii Investments
Investments meant to be h6ld for long term are carried at cost.
ix Inventories
Fertilizer mixtures are valued at lower of cost and net realizable
value following first in first out method. Raw materials, Stores and
Spare parts are valued at weighted-average cost and are inclusive of
excise duty and other taxes wherever applicable
Mar 31, 2010
The financial statements are prepared on accrual basis of accounting
and in accordance with the applicable Accounting Standards.
(i) REVENUE RECOGNITION
Revenue is recognized on accrual basis and is inclusive of excise duty
wherever applicable.
(ii) FOREIGN CURRENCY TRANSACTIONS
Foreign Currency transactions are recorded at the rates prevailing on
the date of the transactions. Exchange, differences arising on
settlement are recognized in the Profit & Loss account.
(iii) EMPLOYEE BENEFITS
Short term employee benefits are estimated and provided for. Further
Companys contribution to Provident Fund, Employees State lnsurance and
other funds are determined under the relevant schemes and/or statute
are charged to revenue. Gratuity and Leave encashment are based on
reasonable estimates based on past trend of employee
retrenchment/attrition
(iv) FIXED ASSETS
Fixed Assets are valued at cost. Most of the fixed assets were revalued
to reflect the true value of such assets and the incremental
appreciation on account of such revaluation was credited to Fixed
Assets Revaluation Reserve in earlier years.
(v) DEPRECIATION
Depreciation is provided on Written Down value method on all assets at
the appropriate rates in accordance with Schedule XIV to the Companies
Act, 1956. The incremental differential depreciation on account of
revaluation of certain depreciable assets is charged against Fixed
Assets Revaluation Reserve account.
(vi) BORROWING COST
Interest cost on qualifying asset being an asset necessarily takes a
substantial period of time to get ready for its intended use or sale,
is capitalized at the weighted average rate of the funds borrowed and
utilized for acquisition of such assets.
(vii) IMPAIRMENT OF ASSETS
The carrying cost of assets are reviewed at each Balance Sheet date and
if there is any indication of impairment based on internal/external
factors, the same is recognized and provided for.
(viii) INVESTMENTS
Investments meant to be held for long term are carried at- cost.
(ix) INVENTORIES
Fertilizer mixtures are valued at lower of cost and net realizable
value following first in first out method.
Raw materials, Stores and Spare parts are valued at weighted-average
cost and are inclusive of excise duty and other taxes wherever
applicable.
Jun 30, 2003
I) FIXED ASSETS
Fixed Assets are capitalised at cost to the Company inclusive of direct
and appropriate allocated expenses and interest on specified borrowings
up to the commencement of commercial production.
Most of the fixed Assets are periodically revalued to reflect the true
value of such assets and the incremental appreciation on account of
such revaluation is credited to Fixed Assets Revaluation Reserve.
Expenditure on immature tea in replanted area is capitalised.
Assets acquired under financial lease are not capitalised. However,
lease rental, finance charges and other related expenses are carried
over till the date of commissioning of such asset and amortised over
the primary lease period.
Assets acquired on hire purchase is capitalised to the extent of
principal value.
Assets costing less than Rs.5000 added during the year are fully
depreciated.
ii) DEPRECIATION
Depreciation is provided on straight line method on assets relating to
granite division and on written down value method on all other assets
at the appropriate rates in accordance with Schedule XIV to the
Companies Act, 1956. The incremental differential depreciation on
account of revaluation of certain depreciable assets is charged against
Fixed Assets Revaluation Reserve account.
iii) INVESTMENTS
Investments meant to be held for long term are carried at cost and
decline in the market value over cost in respect of any individual
investment, if any, is not recognized, if such short fall in the
opinion of the management is of temporary nature.
iv) INVENTORIES
Inventories are valued as follows:
Fertilizers and granite products are valued at lower of cost and net
realisable value following first in first out method. Tea is valued at
since net realised/realisable value.
Raw materials, Work-in-progress, Stores and Spare parts are valued at
weighted-average cost and is inclusive of excise duty wherever
applicable.
v) REVENUE RECOGNITION
Revenue is recognized on accrual basis and is exclusive of excise
duty.whereever applicable. Interest oh overdue accounts and claims in
certain Divisions are generally accounted in the year of settlement due
to uncertainty of realisation.
Income from Investments including from subsidiaries is recognized when
the right to receive dividend accrues.
vi) RETIREMENT BENEFITS
Gratuity to employees payable in the future actuarially evaluated is
generally provided for in the accounts and the incremental liability is
remitted into a separate trust after the close of the financial year
Contribution to Superannuation Fund for eligible employees is remitted
to the Trustees. Leave encashment is provided for in the accounts on
the basis of actuarial valuation.
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