Mar 31, 2014
1. Basis of Preparation
The financial statements have been prepared in accordance with the
generally accepted accounting principles under the historical cost
convention on an accrual basis and in accordance with the applicable
accounting standards issued by the Institute of Chartered Accountants
of India and in compliance with the provisions of the Companies Act,
1956.
2. Use of Estimates
The preparation of the financial statements in conformity with
Generally Accepted Accounting Principles (GAAP) requires the management
of the Company to make estimates and assumptions that affect the
reported balances of assets and liabilities and the disclosures
relating to contingent liabilities as at the date of the financial
statements and the reported amounts of income and expenses during the
reporting period. Differences between the actual results and estimates
are recognized in the period in which the results are known/
materialized.
3. Fixed Assets and Depreciation
a) Fixed Assets
Fixed Assets are stated at cost, net of CENVAT availed, less
accumulated depreciation. Exchange gain or loss on adjustments arising
from exchange rate variations attributable to the fixed assets is
capitalized. All costs, including financing costs till the assets are
ready to be put to use are capitalized.
b) Depreciation and Amortization
Depreciation on fixed assets is provided on straight line method, at
the rates and in the manner specified in schedule XIV of the Companies
Act, 1956. Depreciations on additions to/ deletions from fixed assets
is provided on pro-rata basis from/ up to the date of such additions/
deletions as the case may be. Assets costing less than Rs.5,000/- each
are fully depreciated in the year of purchase. The value of
Horticulture and Land Development expenses and the value of intangible
assets are amortized at the rate of 10% and 20% per annum respectively.
4. Employees Retirement Benefits
The Company has a Employees'' Group Gratuity Policy with Life Insurance
Corporation of India and benefit of leave encashment accumulation and
provident fund contribution.
5. Taxes on Income
Tax on Income for the current period is determined on the basis of
taxable income and tax credit computed in accordance with the
provisions of the Income Tax Act, 1961, and based on expected outcome
of assessments / appeals.
Deferred Tax is recognized on timing differences between the accounting
income and the taxable income for the year and quantified by using the
tax rates and laws enacted or substantively enacted as on the Balance
Sheet day.
Deferred Tax assets are recognized and carried forward to the extent
that there is a reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
6. Impairment of Assets
At the end of each reporting period, the company determines whether the
provision should be made for impairment loss to fixed assets by
considering the indications that the impairment loss may have occurred
in accordance with Accounting Standard 28 on "Impairment of Assets"
issued by ICAI. The impairment loss is charged to Profit & Loss A/c in
the period in which an asset is identified as impaired, when the
carrying value of assets exceeds its recoverable value. The impairment
loss recognised in the earlier periods is reversed, if there has been a
change in the estimate of recoverable amount.
7. Investments
Long-term investments are stated at cost. In case of long term
investments, provision/ write down is made for permanent diminution in
value.
8. Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized if, as a result of a past event, the company
has a present legal obligation that can be estimated reliably, and it
is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by the best estimate
of the outflow of economic benefits required to settle the obligation
at the reporting date. Where no reliable estimate can be made, a
disclosure is made as a contingent liability. A disclosure of
contingent liability is also made when there is a possible obligation
or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources
is remote, no provision or disclosure is made. Contingent Assets are
neither recognized nor disclosed in the financial statements, it
becomes probable that an out flow of resources embodying economic
benefits will be required to settle the obligation, in respect of which
a reliable estimate can be made. Contingent liabilities are not
recognized, but are disclosed in the Notes on Accounts. Contingent
assets are neither recognized nor disclosed in the accounts.
9. Earning Per Share
Basic earning per share is computed by dividing the net profit after
tax by weighted average number of equity shares outstanding during the
period. Diluted earning per share is computed by dividing the net
profit after tax (by adjusting any tax benefits) by the weighted
average number of equity shares considered for deriving basic earning
per share and also weighted average number of equity shares that could
have been issued upon conversion of all dilutive potential equity
shares.
Mar 31, 2013
1. Basis of Preparation
The financial statements have been prepared in accordance with the
generally accepted accounting principles under the historical cost
convention on an accrual basis and in accordance with the applicable
accounting standards issued by the Institute of Chartered Accountants
of India and in compliance with the provisions of the Companies Act,
1956.
2. Use of Estimates
The preparation of the financial statements in conformity with
Generally Accepted Accounting Principles (GAAP) requires the management
of the Company to make estimates and assumptions that affect the
reported balances of assets and liabilities and the disclosures
relating to contingent liabilities as at the date of the financial
statements and the reported amounts of income and expenses during the
reporting period. Differences between the actual results and estimates
are recognized in the period in which the results are known/
materialized.
3. Fixed Assets and Depreciation
a) Fixed Assets Fixed Assets are stated at cost, net of CENVAT availed,
less accumulated depreciation. Exchange gain or loss on adjustments
arising from exchange rate variations attributable to the fixed assets
is capitalized. All costs, including financing costs till the assets
are ready to be put to use are capitalized. b) Depreciation and
Amortization
Depreciation on fixed assets is provided on straight line method, at
the rates and in the manner specified in schedule XIV of the Companies
Act, 1956. Depreciations on additions to/ deletions from fixed assets
is provided on pro-rata basis from/ up to the date of such additions/
deletions as the case may be. Assets costing less than Rs.5,000/- each
are fully depreciated in the year of purchase. The value of
Horticulture and Land Development expenses and the value of intangible
assets are amortized at the rate of 10% and 20% per annum respectively.
4. Employees Retirement Benefits
The Company has a Employees'' Group Gratuity Policy with Life Insurance
Corporation of India and benefit of leave encashment accumulation and
provident fund contribution.
5. Taxes on Income
Tax on Income for the current period is determined on the basis of
taxable income and tax credit computed in accordance with the
provisions of the Income Tax Act, 1961, and based on expected outcome
of assessments / appeals.
Deferred Tax is recognized on timing differences between the accounting
income and the taxable income for the year and quantified by using the
tax rates and laws enacted or substantively enacted as on the Balance
Sheet day.
Deferred Tax assets are recognized and carried forward to the extent
that there is a reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
6. impairment of Assets
At the end of each reporting period, the company determines whether the
provision should be made for impairment loss to fixed assets by
considering the indications that the impairment loss may have occurred
in accordance with Accounting Standard 28 on "Impairment of Assets"
issued by ICAI. The impairment loss is charged to Profit & Loss A/c in
the period in which an asset is identified as impaired, when the
carrying value of assets exceeds its recoverable value. The impairment
loss recognised in the earlier periods is reversed, if there has been a
change in the estimate of recoverable amount.
7. Investments
Long-term investments are stated at cost. In case of long term
investments, provision/ write down is made for permanent diminution in
value.
8. Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized if, as a result of a past event, the company
has a present legal obligation that can be estimated reliably, and it
is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by the best estimate
of the outflow of economic benefits required to settle the obligation
at the reporting date. Where no reliable estimate can be made, a
disclosure is made as a contingent liability. A disclosure of
contingent liability is also made when there is a possible obligation
or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources
is remote, no provision or disclosure is made. Contingent Assets are
neither recognized nor disclosed in the financial statements, it
becomes probable that an out flow of resources embodying economic
benefits will be required to settle the obligation, in respect of which
a reliable estimate can be made. Contingent liabilities are not
recognized, but are disclosed in the Notes on Accounts. Contingent
assets are neither recognized nor disclosed in the accounts.
9. Earning Per Share
Basic earning per share is computed by dividing the net profit after
tax by weighted average number of equity shares outstanding during the
period. Diluted earning per share is computed by dividing the net
profit after tax (by adjusting any tax benefits) by the weighted
average number of equity shares considered for deriving basic earning
per share and also weighted average number of equity shares that could
have been issued upon conversion of all dilutive potential equity
shares.
Mar 31, 2012
1. Basis of Preparation
The financial statements have been prepared in accordance with the
generally accepted accounting principles under the historical cost
convention on an accrual basis and in accordance with the applicable
accounting standards issued by the Institute of Chartered Accountants
of India and in compliance with the provisions of the Companies Act'
1956.
2. Use of Estimates
The preparation of the financial statements in conformity with
Generally Accepted Accounting Principles (GAAP) requires the management
of the Company to make estimates and assumptions that affect the
reported balances of assets and liabilities and the disclosures
relating to contingent liabilities as at the date of the financial
statements and the reported amounts of income and expenses during the
reporting period. Differences between the actuai results and estimates
are recognized in the period in which the results are known/
materialized.
3. Fixed Assets and Depreciation
a) Fixed Assets
Fixed Assets are stated at cost' net of CENVAT availed' less
accumulated depreciation. Exchange gain or loss on adjustments arising
from exchange rate variations attributable to the fixed assets is
capitalized. All costs' including financing costs till the assets are
ready to be put to use are capitalized.
b) Depreciation and Amortization
Depreciation on fixed assets is provided on straight line method' at
the rates and in the manner specified in schedule XIV of the Companies
Act' 1956. Depreciations on additions to/ deletions from fixed assets
is provided on pro-rata basis from/ up to the date of such additions/
deletions as the case may be. Assets costing less than Rs.5'000/- each
are fully depreciated in the year of purchase. The value of
Horticulture and Land Development expenses and the value of intangible
assets are amortized at the rate of 10% and 20% per annum respectively.
4. Em ploy ees Reti rement Benefits
The Company has a Employees' Group Gratuity Policy with Life Insurance
Corporation of India and benefit of leave encashment accumulation and
provident fund contribution.
5. Taxes on Income
Tax on Income for the current period is determined on the basis of
taxable income and tax credit computed in accordance with the
provisions of the Income Tax Act' 1961' and based on expected outcome
of assessments / appeals.
Deferred Tax is recognized on timing differences between the accounting
income and the taxable income for the year and quantified by using the
tax rates and laws enacted or substantively enacted as on the Balance
Sheet day.
Deferred Tax assets are recognized and carried forward to the extent
that there is a reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
6. Impairment of Assets
At the end of each reporting period' the company determines whether the
provision should be made for impairment loss to fixed assets by
considering the indications that the impairment loss may have occurred
in accordance with Accounting Standard 28 on "Impairment of Assets"
issued by ICAI. The impairment loss is charged to Profit & Loss A/c in
the period in which an asset is identified as impaired' when the
carrying value of assets exceeds its recoverable value. The impairment
loss recognised in the earlier periods is reversed' if there has been a
change in the estimate of recoverable amount.
7. Investments
Long-term investments are stated at cost. In case of long term
investments' provision/ write down is made for permanent diminution in
value.
8. Provisions' Contingent Liabilities and Contingent Assets
Aprovision is recognized if' as a result of a past event' the company
has a present legal obligation that can be estimated reliably' and it
is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by the best estimate
of the outflow of economic benefits required to settle the obligation
at the reporting date. Where no reliable estimate can be made' a
disclosure is made as a contingent liability. A disclosure of
contingent liability is also made when there is a possible obligation
or a present obligation that may' but probably will not' require an
outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources
is remote' no provision or disclosure is made. Contingent Assets are
neither recognized nor disclosed in the financial statements' it
becomes probable that an out flow of resources embodying economic
benefits will be required to settle the obligation' in respect of which
a reliable estimate can be made. Contingent liabilities are not
recognized' but are disclosed in the Notes on Accounts. Contingent
assets are neither recognized nor disclosed in the accounts.
9. Earning Per Share
Basic earning per share is computed by dividing the net profit after
tax by weighted average number of equity shares outstanding during the
period. Diluted earning per share is computed by dividing the net
profit after tax (by adjusting any tax benefits) by the weighted
average number of equity shares considered for deriving basic earning
per share and also weighted average number of equity shares that could
have been issued upon conversion of all dilutive potential equity
shares.
Mar 31, 2011
1. Basis of Preparation
The financial statements have been prepared in accordance with the
generally accepted accounting principles under the historical cost
convention on an accrual basis and in accordance with the applicable
accounting standards issued by the Institute of Chartered Accountants
of India and in compliance with the provisions of the Companies Act,
1956.
2. Use of Estimates
The preparation of the financial statements in conformity with
Generally Accepted Accounting Principles (GAAP) requires the management
of the Company to make estimates and assumptions that affect the
reported balances of assets and liabilities and the disclosures
relating to contingent liabilities as at the date of the financial
statements and the reported amounts of income and expenses during the
reporting period. Differences between the actual results and estimates
are recognized in the period in which the results are known/
materialized.
3. Fixed Assets and Depreciation
a) Fixed Assets
Fixed Assets are stated at cost, net of CEN VAT availed, less
accumulated depreciation. Exchange gain or loss on adjustments arising
from exchange rate variations attributable to the fixed assets is
capitalized. All costs, including financing costs till the assets are
ready to be put to use are capitalized.
b) Depreciation and Amortization
Depreciation on fixed assets is provided on straight line method, at
the rates and in the manner specified in schedule XIV of the Companies
Act, 1956. Depreciations on additions to/ deletions from fixed assets
is provided on pro-rata basis from/ up to the date of such additions/
deletions as the case may be. Assets costing less than Rs.5,000/- each
are fully depreciated in the year of purchase. The value of
Horticulture and Land Development expenses and the value of intangible
assets are amortized at the rate of 10% and 20% per annum respectively.
4. Employees Retirement Benefits
The Company has a Employees' Group Gratuity Policy with Life Insurance
Corporation of India and benefit of leave encashment accumulation and
provident fund contribution.
5. Taxes on Income
Tax on Income for the current period is determined on the basis of
taxable income and tax credit computed in accordance with the
provisions of the Income Tax Act, 1961, and based on expected outcome
of assessments / appeals. Deferred Tax is recognized on timing
differences between the accounting income and the taxable income for
the year and quantified by using the tax rates and laws enacted or
substantively enacted as on the Balance Sheet day. Deferred Tax assets
are recognized and carried forward to the extent that there is a
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
6. Impairment of Assets
At the end of each reporting period, the company determines whether the
provision should be made for impairment loss to fixed assets by
considering the indications that the impairment loss may have occurred
in accordance with Accounting Standard 28 on "Impairment of Assets"
issued by ICAI. The impairment loss is charged to Profit & Loss A/c in
the period in which an asset is identified as impaired, when the
carrying value of assets exceeds its recoverable value. The impairment
loss recognised in the earlier periods is reversed, if there has been a
change in the estimate of recoverable amount.
7. Investments
Long-term investments are stated at cost. In case of long term
investments, provision/ write down is made for permanent diminution in
value.
8. Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized if, as a result of a past event, the company
has a present legal obligation that can be estimated reliably, and it
is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by the best estimate
of the outflow of economic benefits required to settle the obligation
at the reporting date. Where no reliable estimate can be made, a
disclosure is made as a contingent liability. A disclosure of
contingent liability is also made when there is a possible obligation
or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources
is remote, no provision or disclosure is made. Contingent Assets are
neither recognized nor disclosed in the financial statements, it
becomes probable that an out flow of resources embodying economic
benefits will be required to settle the obligation, in respect of which
a reliable estimate can be made. Contingent liabilities are not
recognized, but are disclosed in the Notes on Accounts. Contingent
assets are neither recognized nor disclosed in the accounts.
9. Earning Per Share
Basic earning per share is computed by dividing the net profit after
tax by weighted average number of equity shares outstanding during the
period. Diluted earning per share is computed by dividing the net
profit after tax (by adjusting any tax benefits) by the weighted
average number of equity shares considered for deriving basic earning
per share and also weighted average number of equity shares that could
have been issued upon conversion of all dilutive potential equity
shares.
Mar 31, 2010
1. Basis of Preparation
The financial statements have been prepared in accordance with the
generally accepted accounting principles under the historical cost
convention on an accrual basis and in accordance with the applicable
accounting standards issued by the Institute of Chartered Accountants
of India and in compliance with the provisions of the Companies Act,
1956.
2. Use of Estimates
The preparation of the financial statements in conformity with
Generally Accepted Accounting Principles (GAAP) requires the management
of the Company to make estimates and assumptions that affect the
reported balances of assets and liabilities and the disclosures
relating to contingent liabilities as at the date of the financial
statements and the reported amounts of income and expenses during the
reporting period. Differences between the actual results and estimates
are recognised in the period in which the results are known/
materialized.
3. Fixed Assets and Depreciation
a) Fixed Assets
Fixed Assets are stated at cost, net of cenvat availed, less
accumulated depreciation. Exchange gain or loss on adjustments arising
from exchange rate variations attributable to the fixed assets is
capitalised. All costs, including financing costs till the assets are
ready to be put to use are capitalized.
b) Depreciation and Amortization
Depreciation on fixed assets is provided on straight line method, at
the rates and in the manner specified in schedule XIV of the Companies
Act, 1956. Depreciations on additions to/ deletions from fixed assets
is provided on pro-rata basis from/ up to the date of such additions/
deletions as the case may be. Assets costing less than Rs.5,000/- each
are fully depreciated in the year of purchase. The value of
Horticulture and Land Development expenses and the value of intangible
assets are amortized at the rate of 10% and 20% per annum respectively.
4. Employees Retirement Benefits
The Company has a Employees Group Gratuity Policy with Life Insurance
Corporation of India and benefit of leave encashment accumulation and
provident fund contribution.
5. Taxes on Income
Tax on Income for the current period is determined on the basis of
taxable income and tax credit computed in accordance with the
provisions of the It ome Tax Act, 1961, and based on expected outcome
of assessments / appeals.
Deferred Tax is recognized on timing differences between the accounting
income and the taxable income for the year and quantified by using the
tax rates and laws enacted or substantively enacted as on the Balance
Sheet day.
Deferred Tax assets are recognized and carried forward to the extent
that there is a reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
6. Impairment of Assets
At the end of each reporting period, the company determines whether the
provision should be made for impairment loss to fixed assets by
considering the indications that the impairment loss may have occurred
in accordance with Accounting Standard 28 on "Impairment of Assets"
issued by ICAI. The impairment loss is charged to Profit & Loss A/c in
the period in which an asset is identified as impaired, when the
carrying value of assets exceeds its recoverable value. The impairment
loss recognised in the earlier periods is reversed, if there has been a
change in the estimate of recoverable amount.
7. Investments
Long-term investments are stated at cost. In case of long term
investments, provision/ write down is made for permanent diminution in
value.
8. Provisions, Contingent Liabilities and Contingent Assets
A provision is recognised if, as a result of a past event, the company
has a present legal obligation that can be estimated reliably, and it
is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by the best estimate
of the outflow of economic benefits required to settle the obligation
at the reporting date. Where no reliable estimate can be made, a
disclosure is made as a contingent liability. A disclosure of
contingent liability is also made when there is a possible obligation
or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources
is remote, no provision or disclosure is made. Contingent Assets are
neither recognised nor disclosed in the financial statements, it
becomes probable that an out flow of resources embodying economic
benefits will be required to settle the obligation, in respect of which
a reliable estimate can be made. Contingent liabilities are not
recognised, but are disclosed in the Notes on Accounts. Contingent
assets are neither recognised nor disclosed in the accounts. 9.
Earning Per Share
Basic earning per share is computed by dividing the net profit after
tax by weighted average number of equity shares outstanding during the
period. Diluted earning per share is computed by dividing the net
profit after tax (by adjusting any tax benefits) by the weighted
average number of equity shares considered for deriving basic earning
per share and also weighted average number of equity shares that could
have been issued upon conversion of all dilutive potential equity
shares.
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