Mar 31, 2015
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Financial Statements have been prepared under historical cost
convention in accordance with the normally accepted accounting
principles and provisions of the Companies Act, 1956.
1.2 FIXED ASSETS AND DEPRECIATION
i) Fixed assets are stated at acquisition cost less accumulated
depreciation.
ii) Depreciation on Tangible assets are provided by written down value
method over the estimated useful life prescribed under part "C"
Schedule II of Companies Act, 2013, keeping a residual value of 5 %.
iii) Technical Know-how is depreciated equally over a period of 20
years starting from the month in which Technical Know- how has been put
to use.
iv) Trade Marks/Brand are depreciated equally over 10 years starting
from the month in which the Trade Marks / Brand have been acquired.
v) Impairment in the carrying value of the fixed assets is recognised
in accordance with Accounting Standard No. 28 - ' Impairment of
Assets'.
1.3 INVENTORIES
i) Raw material are valued at cost on FIFO basis or net realisable
value whichever is lower
ii) Process stock is valued at material cost or net realisable value
whichever is lower.
iii) Finished goods are valued at cost or net realisable value
whichever is lower. Cost in respect of own manufactured goods includes
material cost, direct labour and attributable production overheads.
1.4 INVESTMENTS
Long-term investments are valued at cost except that any permanent
diminution in the value thereof is recognised in the profit and loss
account.
1.5 REVENUE RECOGNITION
All income and expenditure items are recognised on accrual basis.
Payments to employees under voluntary retirement schemes are deferred
and written off equally over a period of 5 years starting from the year
in which payment is made.
1.6 EMPLOYEE/RETIREMENT BENEFITS
The Company has made arrangements with the Life Insurance Corporation
of India through Gratuity Fund and Superannuation Fund for meeting its
employee retirement liability. The liability for gratuity is calculated
on basis of actuarial valuation as reduced by funded amount. Leave
encashment benefit is provided for based on actuarial valuation basis.
1.7 FOREIGN CURRENCY TRANSLATION
Foreign currency revenue transactions are booked at the exchange rate
prevailing at the date of the transaction. Exchange loss/gain on
realisation/payment is booked to exchange fluctuation. Foreign currency
assets and liabilities outstanding as at the year end, if any, are
translated at the year end exchange rates.
1.8 TAxATION
Provision for taxes is made based on the current applicable tax rates.
Adjustment for deferred tax is made based on the tax effect of timing
differences resulting from the recognition of items in the financial
statements and their allowance under the tax laws, subject to the
consideration of prudence. The effect on deferred tax of a change in
income tax rates is recognised in the period that includes the
enactment date.
Mar 31, 2014
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Financial Statements have been prepared under historical cost
convention in accordance with the normally accepted accounting
principles and provisions of the Companies Act, 1956.
1.2 FIXED ASSETS AND DEPRECIATION
i) Fixed assets are stated at acquisition cost less accumulated
depreciation.
ii) Depreciation is provided on written down value method at the rates
and in the manner prescribed in Schedule XIV of the Companies Act,
1956.
iii) Technical Know-how is depreciated equally over a period of 20
years starting from the month in which Technical Know- how has been put
to use.
iv) Trade Marks/Brand are depreciated equally over 10 years starting
from the month in which the Trade Marks / Brand have been acquired.
v) Impairment in the carrying value of the fixed assets is recognised
in accordance with Accounting Standard No. 28 - ''Impairment of Assets''.
1.3 INVENTORIES
i) Raw material are valued at cost on FIFO basis or net realisable
value whichever is lower
ii) Process stock is valued at material cost or net realisable value
whichever is lower.
iii) Finished goods are valued at cost or net realisable value
whichever is lower. Cost in respect of own manufactured goods includes
material cost, direct labour and attributable production overheads.
1.4 INVESTMENTS
Long-term investments are valued at cost except that any permanent
diminution in the value thereof is recognised in the profit and loss
account.
1.5 REVENUE RECOGNITION
All income and expenditure items are recognised on accrual basis.
Payments to employees under voluntary retirement schemes are deferred
and written off equally over a period of 5 years starting from the year
in which payment is made.
1.6 EMPLOYEE/RETIREMENT BENEFITS
The Company has made arrangements with the Life Insurance Corporation
of India through Gratuity Fund and Superannuation Fund for meeting its
employee retirement liability. The liability for gratuity is calculated
on basis of actuarial valuation as reduced by funded amount. Leave
encashment benefit is provided for based on actuarial valuation basis.
1.7 FOREIGN CURRENCY TRANSACTIONS
Foreign currency revenue transactions are booked at the exchange rate
prevailing at the date of the transaction. Exchange loss/gain on
realisation/payment is booked to exchange fluctuation. Foreign currency
assets and liabilities outstanding as at the year end, if any, are
translated at the year end exchange rates.
1.8 TAxATION
Provision for taxes is made based on the current applicable tax rates.
Adjustment for deferred tax is made based on the tax effect of timing
differences resulting from the recognition of items in the financial
statements and their allowance under the tax laws, subject to the
consideration of prudence. The effect on deferred tax of a change in
income tax rates is recognised in the period that includes the
enactment date.
2.1 Rights and Restrictions attached to Equity Shares
The Company has only one class of equity shares having a par value of
''10 per share. Each holder of equity shares is entitled to one vote per
share. The dividend proposed by the Board of Directors is subject to
the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of Equity Shares held by the
shareholders.
2.2 Shares held by Holding Company
Out of the above equity shares, 3,22,680 (previous year 3,22,680)
shares are held by Holding Company - M/s. Development Holding Asia Ltd.
2.3 Details of Shareholders holding more than 5% of the total Equity
Shares
Mar 31, 2013
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Financial Statements have been prepared under historical cost
convention in accordance with the normally accepted accounting
principles and provisions of the Companies Act, 1956.
1.2 FIXED ASSETS AND DEPRECIATION
i) Fixed assets are stated at acquisition cost less accumulated
depreciation.
ii) Depreciation is provided on written down value method at the rates
and in the manner prescribed in Schedule XIV of the Companies Act,
1956.
iii) Technical Know-how is depreciated equally over a period of 20
years starting from the month in which Technical Know- how has been put
to use.
iv) Trade Marks/Brand are depreciated equally over 10 years starting
from the month in which the Trade Marks / Brand have been acquired.
v) Impairment in the carrying value of the fixed assets is recognised
in accordance with Accounting Standard No. 28 - ''Impairment of
Assets''.
1.3 INVENTORIES
i) Raw material are valued at cost on FIFO basis or net realisable
value whichever is lower
ii) Process stock is valued at material cost or net realisable value
whichever is lower.
iii) Finished goods are valued at cost or net realizable value
whichever is lower. Cost in respect of own manufactured goods includes
material cost, direct labour and attributable production overheads.
1.4 INVESTMENTS
Long-term investments are valued at cost except that any permanent
diminution in the value thereof is recognized in the profit and loss
account.
1.5 REVENUE RECOGNITION
All income and expenditure items are recognized on accrual basis.
Payments to employees under voluntary retirement schemes are deferred
and written off equally over a period of 5 years starting from the year
in which payment is made.
1.6 EMPLOYEE/RETIREMENT BENEFITS
The Company has made arrangements with the Life Insurance Corporation
of India through Gratuity Fund and Superannuation Fund for meeting its
employee retirement liability. The liability for gratuity is calculated
on basis of actuarial valuation as reduced by funded amount. Leave
encashment benefit is provided for based on actuarial valuation basis.
1.7 FOREIGN CURRENCY TRANSLATION
Foreign currency revenue transactions are booked at the exchange rate
prevailing at the date of the transaction. Exchange loss/gain on
realization/payment is booked to exchange fluctuation. Foreign currency
assets and liabilities outstanding as at the year end, if any, are
translated at the yearend exchange rates.
1.8 TAXATION
Provision for taxes is made based on the current applicable tax rates.
Adjustment for deferred tax is made based on the tax effect of timing
differences resulting from the recognition of items in the financial
statements and their allowance under the tax laws, subject to the
consideration of prudence. The effect on deferred tax of a change in
income tax rates is recognized in the period that includes the enactment
date.
Mar 31, 2011
A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Financial Statements have been prepared under historical cost
convention in accordance with the normally accepted accounting
principles and provisions of the Companies Act, 1956.
b) FIXED ASSETS AND DEPRECIATION
i) Fixed assets are stated at acquisition cost less accumulated
depreciation.
ii) Depreciation is provided on written down value method at the rates
and in the manner prescribed in Schedule XIV of the Companies Act,
1956.
iii) Technical Know-how is depreciated equally over a period of 20
years starting from the month in which
Technical Know-how has been put to use.
iv) Trade Marks/Brand are depreciated equally over 10 years starting
from the month in which the Trade Marks/ Brand have been acquired.
v) Impairment in the carrying value of the fixed assets is recognised
in accordance with Accounting Standard No. 28 -' Impairment of
Assets'.
C) INVENTORIES
i) Raw material are valued at cost on FIFO basis or net realisable
value whichever is lower
ii) Process stock is valued at material cost or net realisable value
whichever is lower.
iii) Finished goods are valued at cost or netrealisable value whichever
is lower. Cost in respect of own manufactured goods includes material
cost, direct labour and attributable production overheads.
d) INVESTMENTS
Long-term investments are valued at cost except that any permanent
diminution in the value thereof is recognised in the profit and loss
account.
e) REVENUE RECOGNITION
All income and expenditure items are recognised on accrual basis.
Payments to employees under voluntary retirement schemes are deferred
and written off equally over a period of 5 years starting from the year
in which payment is made.
f) EMPLOYEE/RETIREMENT BENEFITS
The Company has made arrangements with the Life Insurance Corporation
of India through Gratuity Fund and Superannuation Fund for meeting its
employee retirement liability. The liability for gratuity is calculated
on basis of acturial valuation as reduced by funded amount.
Leave encashment benefit is provided for based on actuarial valuation
basis.
g) FOREIGN CURRENCY TRANSLATION
Foreign currency revenue transactions are booked at the exchange rate
prevaling at the date of the transaction. Exchange (loss)/gain on
realisation/payment is booked to exchange fluctuation. Foreign currency
assets and liabilities outstanding as at the year end, if any.are
translated at the year end exchange rates:
h) TAXATION
Provision for taxes is made based on the current applicable tax rates.
Adjustment for deferred tax is made based on the tax effect of timing
differences resulting from the recognition of items in the financial
statements and their allowance under the tax laws, subject to the
consideration of prudence. The effect on deferred tax of a change in
income tax rates is recognised in the period that includes the
enactment date..
Mar 31, 2010
A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Financial Statements have been prepared under historical cost
convention in accordance with the normally accepted accounting
principles and provisions of the Companies Act, 1956.
b) FIXED ASSETS AND DEPRECIATION
i) Fixed assets are stated at acquisition cost less accumulated
depreciation.
ii) Depreciation is provided on written down value method at the rates
and in the manner prescribed in Schedule XIV of the Companies Act,
1956.
iii) Technical Know-how is depreciated equally over a period of 20
years starting from the month in which Technical Know-how has been put
to use.
iv) Trade Marks/Brand are depreciated equally over 10 years starting
from the month in which the Trade Marks/ Brand have been acquired.
v) Impairment in the carrying value of the fixed assets is recognised
in accordance with Accounting Standard No. 28 - Impairment of
Assets.
c) INVENTORIES
i) Raw material are valued at cost on FIFO basis or net realisable
value whichever is lower.
ii) Process stock is valued- at material cost or net realisable value
whichever is lower.
iii) Finished goods are valued at cost or net realisable value
whichever is lower. Cost in respect of own manufactured goods includes
material cost, direct labour and attributable production overheads.
d) INVESTMENTS
Long-term investments are valued at cost except that any permanent
diminution in the value thereof is recognised in the profit and loss
account.
e) REVENUE RECOGNITION
All income and expenditure items are recognised on accrual basis.
Payments to employees under voluntary retirement schemes are deferred
and written off equally over a period of 5 years starting from the year
in which payment is made.
f) EMPLOYEE/RETIREMENT BENEFITS
The Company has made arrangements with the Life Insurance Corporation
of India through Gratuity Fund and Superannuation Fund for meeting its
employee retirement liability. The liability for gratuity is calculated
on basis of acturial valuation as reduced by funded amount. Leave
encashment benefit is provided for based on actuarial valuation basis.
g) FOREIGN CURRENCY TRANSLATION
Foreign currency revenue transactions are booked at the exchange rate
prevaling at the date of the transaction. Exchange toss/gain on
realisation/payment is booked to exchange fluctuation.
Foreign currency assets and liabilities outstanding as at the year end,
if any.are translated at the year end exchange rates.
h) TAXATION
Provision for taxes is made based on the current applicable tax rates.
Adjustment for deferred tax is made based on the tax effect of timing
differences resulting from the recognition of items in the financial
statements and their allowance under the tax laws, subject to the
consideration of prudence. The effect on deferred tax of a change in
income tax rates is recognised in the period that includes the
enactment date.