Mar 31, 2015
A) Basis of Accounting
The Financial Statements have been prepared under the historical cost
convention on accrual basis in conformity in all material aspects with
the generally accepted accounting principles in India and comply with
Accounting Standards referred to in Section 133 of the Companies Act,
2013.
b) Revenue Recognition
Sale of goods is recognized on dispatches to customers, and is
inclusive of excise duty and sales tax (wherever applicable).
c) Use of Estimates
The Preparation of Financial Statements requires estimates and
assumptions to be made that effect the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Difference between
the actual results and estimates are recognized in the period in which
the results are known / materialized.
d) Fixed Assets
Fixed Assets are stated at historical cost of acquisition less
accumulated depreciation and net of Excise Duty eligible for Cenvat.
Pre-operative expenses and Attributable interest stand Capitalized as
part of asset cost.
e) Depreciation
Depreciation on Fixed assets has been provided over the useful life of
the asset on SLM basis as per the new method prescribed under Schedule
II of Companies Act 2013. The assets whose useful life is completed
over the years, the residual value of the same is kept at 5% in the
books and the remaining amount has been charged to General Reserve.
f) Investments
Current investments are carried at the lower of cost and quoted / fair
value, computed category wise. Long Term Investments are stated at
cost. Provision for diminution in the value of long-term investment is
made only if such decline is other than temporary in the opinion of the
management.
g) Impairment:
The carrying amounts of assets are revised at each balance sheet date
if there is any indication of Impairment based on internal and external
factors. An asset is impaired when the carrying amount of the asset
exceeds the recoverable amount.
h) Inventories
Raw Materials, Stores, Spares and work in progress are valued at cost
including Cenvat credit wherever applicable on first in first out
basis. Finished goods are valued at lower of cost and or estimated net
realisable value. Finished goods and work in progress includes cost of
conversion and other costs including Excise Duty incurred in bringing
the inventories to their present location and condition. Material in
transit are stated at actual cost. Scrap is valued at net realisable
value.
i) Foreign Currency Transactions
Transactions in foreign currency are recorded at the exchange rate,
prevailing on the date of transaction or at the exchange rates under
the related forward exchange contracts. Profit/Loss on outstanding
Foreign Currency contracts have been accounted for at the exchange
rates, prevailing at the year end rates as per FEDAI/RBI.
j) Employee Retirement Benefits
Company's contribution to Provident Fund and Superannuation Fund are
charged to Profit and Loss Account. Gratuity is charged to Profit and
Loss Account.
k) Deferred Revenue Expenditure is amortised over a period of ten
years.
l) Provision for Current and Deferred Tax:
i) Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
ii) Deferred tax resulting from "timing differences" between book and
taxable profit is accounted for using tax rates and laws that have been
enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
that there is a reasonable certainty that the asset will be realised in
future.
m) Provision, Contingent Liabilities and Contingent Assets:
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
event and it is probable that there will be an outflow of resources.
Contingent Liabilities which are not recognized are disclosed in notes.
Contingent Assets are neither recognized nor disclosed in Statements.
n) Turnover
Turnover includes sale price of goods, Sales Tax, Excise Duty.
Inter-segment sales are excluded in the Main Profit and Loss account.
o) Segment Reporting
Company's operating Business, organized & Managed unit wise, according
to the nature of the products and services provided, are recognized in
segments representing one or more strategic business units, that offer
products or services of different nature and to different Markets.
p) Prior Period Expenses/Income
Prior period items, if material are separately disclosed in Profit &
Loss Account together with the nature and amount. Extraordinary items &
changes in Accounting Policies having material impact on the financial
affairs of the company are disclosed.
q) Sundry Debtors, Loans and Advances
Doubtful Debts/Advances are written off in the year in which those are
considered to be irrecoverable.
r) Earning per Share
The Company reports basic and diluted earnings per share in accordance
with Accounting Standard-20 (AS-20) issued by the Institute of
Chartered Accountants of India. Basic earnings per share are computed
by dividing the Net Profit or Loss for the year by the Weighted Average
number of equity share outstanding during the year. Diluted earnings
per share is computed by dividing the Net profit or loss for the year
by weighted average number of equity shares outstanding during the year
as adjusted for the effects of all dilutive potential equity shares,
except where the results are anti-dilutive.
s) Cash Flow Statement:
Cash Flow Statement has been prepared in accordance with requirement of
Accounting Standard 3 "Cash Flow Statement" issued by the Institute of
Chartered Accountants of India.
Mar 31, 2014
A) Basis of Accounting
The Financial Statements have been prepared under the historical cost
convention on accrual basis in conformity in all material aspects with
the generally accepted accounting principles in India and comply with
Accounting Standards referred to in Section 211 (3C) of the Companies
Act, 1956.
b) Revenue Recognition
Sale of goods is recognized on dispatches to customers, and is
inclusive of excise duty and sales tax (wherever applicable).
c) Use of Estimates
The Preparation of Financial Statements requires estimates and
assumptions to be made that effect the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Difference between
the actual results and estimates are recognized in the period in which
the results are known / materialized.
d) Fixed Assets
Fixed Assets are stated at historical cost of acquisition less
accumulated depreciation and net of Excise Duty eligible for Cenvat.
Pre-operative expenses and Attributable interest stand Capitalized as
part of asset cost.
e) Depreciation
Depreciation on Fixed Assets have been provided on straight-line method
at the rates prescribed under Schedule XIV of the Companies Act, 1956
and prorata on additions during the year. Individual low cost assets
acquired at less than Rs.5,000/- are fully depreciated within the year
of acquisition.
f) Investments
Current investments are carried at the lower of cost and quoted / fair
value, computed category wise. Long Term Investments are stated at
cost. Provision for diminution in the value of long-term investment is
made only if such decline is other than temporary in the opinion of the
management.
g) Impairment:
The carrying amounts of assets are revised at each balance sheet date
if there is any indication of Impairment based on internal and external
factors. An asset is impaired when the carrying amount of the asset
exceeds the recoverable amount.
h) Inventories
Raw Materials, Stores, Spares and work in progress are valued at cost
including Cenvat credit wherever applicable on first in first out
basis. Finished goods are valued at lower of cost and or estimated net
realisable value. Finished goods and work in progress includes cost of
conversion and other costs including Excise Duty incurred in bringing
the inventories to their present location and condition. Material in
transit are stated at actual cost. Scrap is valued at net realisable
value.
i) Foreign Currency Transactions
Transactions in foreign currency are recorded at the exchange rate,
prevailing on the date of transaction or at the exchange rates under
the related forward exchange contracts. Profit/Loss on outstanding
Foreign Currency contracts have been accounted for at the exchange
rates, prevailing at the year end rates as per FEDAI/RBI.
j) Employee Retirement Benefits
Company''s contribution to Provident Fund and Superannuation Fund are
charged to Profit and Loss Account. Gratuity is charged to Profit and
Loss Account.
k) Deferred Revenue Expenditure is amortised over a period of ten
years.
l) Provision for Current and Deferred Tax:
i) Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
ii) Deferred tax resulting from "timing differences" between book and
taxable profit is accounted for using tax rates and laws that have been
enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
that there is a reasonable certainty that the asset will be realised in
future.
m) Provision, Contingent Liabilities and Contingent Assets :
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
event and it is probable that there will be an outflow of resources.
Contingent Liabilities which are not recognized are disclosed in notes.
Contingent Assets are neither recognized nor disclosed in Statements.
n) Turnover
Turnover includes sale price of goods, sales tax, excise duty.
Inter-segment sales are excluded in the Main Profit and Loss account.
o) Segment Reporting
Company''s operating Business, organized & Managed unit wise, according
to the nature of the products and services provided, are recognized in
segments representing one or more strategic business units, that offer
products or services of different nature and to different Markets.
p) Prior Period Expenses / Income
Prior period items, if material are separately disclosed in Profit &
Loss Account together with the nature and amount. Extraordinary items &
changes in Accounting Policies having material impact on the financial
affairs of the company are disclosed.
q) Sundry Debtors, Loans and Advances
Doubtful Debts/Advances are written off in the year in which those are
considered to be irrecoverable.
r) Earning per Share
The Company reports basic and diluted earnings per share in accordance
with Accounting Standard-20 (AS-20) issued by the Institute of
Chartered Accounts of India. Basic earnings per share are computed by
dividing the net Profit or Loss for the year by the Weighted Average
number of equity share outstanding during the year. Diluted earnings
per share is computed by dividing the net profit or loss for the year
by weighted average number of equity shares outstanding during the year
as adjusted for the effects of all dilutive potential equity shares,
except where the results are anti-dilutive.
s) Cash Flow Statement:
Cash Flow Statement has been prepared in accordance with requirement of
Accounting Standard - 3 "Cash Flow Statement" issued by the Institute
of Chartered Accountants of India.
Mar 31, 2013
A) Basis of Accounting
The Financial Statements have been prepared under the historical cost
convention on accrual basis in conformity in all material aspects with
the generally accepted accounting principles in India and comply with
Accounting Standards referred to in Section 211 (3C) of the Companies
Act, 1956.
b) Revenue Recognition
Sale of goods is recognized on dispatches to customers, and is
inclusive of excise duty and sales tax (wherever applicable).
c) Use of Estimates
The Preparation of Financial Statements requires estimates and
assumptions to be made that effect the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Difference between
the actual results and estimates are recognized in the period in which
the results are known / materialized.
d) Fixed Assets
Fixed Assets are stated at historical cost of acquisition less
accumulated depreciation and net of Excise Duty eligible for Cenvat.
Pre-operative expenses and Attributable interest stand Capitalized as
part of asset cost.
e) Depreciation
Depreciation on Fixed Assets have been provided on straight-line method
at the rates prescribed under Schedule XIV of the Companies Act, 1956
and prorata on additions during the year. Individual low cost assets
acquired at less than Rs.5,000/- are fully depreciated within the year
of acquisition.
f) Investments
Current investments are carried at the lower of cost and quoted / fair
value, computed category wise. Long Term Investments are stated at
cost. Provision for diminution in the value of long-term investment is
made only if such decline is other than temporary in the opinion of the
management.
g) Impairment:
The carrying amounts of assets are revised at each balance sheet date
if there is any indication of Impairment based on internal and external
factors. An asset is impaired when the carrying amount of the asset
exceeds the recoverable amount.
h) Inventories
Raw Materials, Stores, Spares and work in progress are valued at cost
including Cenvat credit wherever applicable on first in first out
basis. Finished goods are valued at lower of cost and or estimated net
realisable value. Finished goods and work in progress includes cost of
conversion and other costs including Excise Duty incurred in bringing
the inventories to their present location and condition. Material in
transit are stated at actual cost. Scrap is valued at net realisable
value.
i) Foreign Currency Transactions
Transactions in foreign currency are recorded at the exchange rate,
prevailing on the date of transaction or at the exchange rates under
the related forward exchange contracts. Profit/Loss on outstanding
Foreign Currency contracts have been accounted for at the exchange
rates, prevailing at the year end rates as per FEDAI/RBI.
j) Employee Retirement Benefits
Company''s contribution to Provident Fund and Superannuation Fund are
charged to Profit and Loss Account. Gratuity is charged to Profit and
Loss Account.
k) Deferred Revenue Expenditure is amortised over a period of ten
years.
l) Provision for Current and Deferred Tax:
i) Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
ii) Deferred tax resulting from "timing differences" between book and
taxable profit is accounted for using tax rates and laws that have been
enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
that there is a reasonable certainty that the asset will be realised in
future.
m) Provision, Contingent Liabilities and Contingent Assets :
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
event and it is probable that there will be an outflow of resources.
Contingent Liabilities which are not recognized are disclosed in notes.
Contingent Assets are neither recognized nor disclosed in Statements.
n) Turnover
Turnover includes sale price of goods, sales tax, excise duty.
Inter-segment sales are excluded in the Main Profit and Loss account.
o) Segment Reporting
Company''s operating Business, organized & Managed unit wise, according
to the nature of the products and services provided, are recognized in
segments representing one or more strategic business units, that offer
products or services of different nature and to different Markets.
p) Prior Period Expenses / Income
Prior period items, if material are separately disclosed in Profit &
Loss Account together with the nature and amount. Extraordinary items &
changes in Accounting Policies having material impact on the financial
affairs of the company are disclosed.
q) Sundry Debtors, Loans and Advances
Doubtful Debts/Advances are written off in the year in which those are
considered to be irrecoverable.
r) Earning per Share
The Company reports basic and diluted earnings per share in accordance
with Accounting Standard-20 (AS-20) issued by the Institute of
Chartered Accounts of India. Basic earnings per share are computed by
dividing the net Profit or Loss for the year by the Weighted Average
number of equity share outstanding during the year. Diluted earnings
per share is computed by dividing the net profit or loss for the year
by weighted average number of equity shares outstanding during the year
as adjusted for the effects of all dilutive potential equity shares,
except where the results are anti-dilutive.
s) Cash Flow Statement:
Cash Flow Statement has been prepared in accordance with requirement of
Accounting Standard  3 "Cash Flow Statement" issued by the Institute
of Chartered Accountants of India.
Mar 31, 2012
A) Basis of Accounting
The Financial Statements have been prepared under the historical cost
convention on accrual basis in conformity in all material aspects with
the generally accepted accounting principles in India and comply with
Accounting Standards referred to in Section 211 (3C) of the Companies
Act, 1956.
b) Revenue Recognition
Sale of goods is recognized on dispatches to customers, and is
inclusive of excise duty and sales tax (wherever applicable).
c) Use of Estimates
The Preparation of Financial Statements requires estimates and
assumptions to be made that effect the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Difference between
the actual results and estimates are recognized in the period in which
the results are known / materialized.
d) Fixed Assets
Fixed Assets are stated at historical cost of acquisition less
accumulated depreciation and net of Excise Duty eligible for Cenvat.
Pre-operative expenses and Attributable interest stand Capitalized as
part of asset cost.
e) Depreciation
Depreciation on Fixed Assets have been provided on straight-line method
at the rates prescribed under Schedule XIV of the Companies Act, 1956
and prorata on additions during the year. Individual low cost assets
acquired at less than Rs.5,000/- are fully depreciated within the year
of acquisition.
f) Investments
Current investments are carried at the lower of cost and quoted / fair
value, computed category wise. Long Term Investments are stated at
cost. Provision for diminution in the value of long-term investment is
made only if such decline is other than temporary in the opinion of the
management.
g) Impairment:
The carrying amounts of assets are revised at each balance sheet date
if there is any indication of Impairment based on internal and external
factors. An asset is impaired when the carrying amount of the asset
exceeds the recoverable amount.
h) Inventories
Raw Materials, Stores, Spares and work in progress are valued at cost
including Cenvat credit wherever applicable on first in first out
basis. Finished goods are valued at lower of cost and or estimated net
realisable value. Finished goods and work in progress includes cost of
conversion and other costs including Excise Duty incurred in bringing
the inventories to their present location and condition. Material in
transit are stated at actual cost. Scrap is valued at net realisable
value.
i) Foreign Currency Transactions
Transactions in foreign currency are recorded at the exchange rate,
prevailing on the date of transaction or at the exchange rates under
the related forward exchange contracts. Profit/Loss on outstanding
Foreign Currency contracts have been accounted for at the exchange
rates, prevailing at the year end rates as per FEDAI/RBI.
j) Employee Retirement Benefits
Company's contribution to Provident Fund and Superannuation Fund are
charged to Profit and Loss Account. Gratuity is charged to Profit and
Loss Account.
k) Deferred Revenue Expenditure is amortised over a period of ten
years.
l) Provision for Current and Deferred Tax:
i) Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
ii) Deferred tax resulting from "timing differences" between book and
taxable profit is accounted for using tax rates and laws that have been
enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
that there is a reasonable certainty that the asset will be realised in
future.
m) Provision, Contingent Liabilities and Contingent Assets :
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
event and it is probable that there will be an outflow of resources.
Contingent Liabilities which are not recognized are disclosed in notes.
Contingent Assets are neither recognized nor disclosed in Statements.
n) Turnover
Turnover includes sale price of goods, sales tax, excise duty.
Inter-segment sales are excluded in the Main Profit and Loss account.
o) Segment Reporting
Company's operating Business, organized & Managed unit wise, according
to the nature of the products and services provided, are recognized in
segments representing one or more strategic business units, that offer
products or services of different nature and to different Markets.
p) Prior Period Expenses / Income
Prior period items, if material are separately disclosed in Profit &
Loss Account together with the nature and amount. Extraordinary items &
changes in Accounting Policies having material impact on the financial
affairs of the company are disclosed.
q) Sundry Debtors, Loans and Advances
Doubtful Debts/Advances are written off in the year in which those are
considered to be irrecoverable. r) Earning per Share
The Company reports basic and diluted earnings per share in accordance
with Accounting Standard-20 (AS-20) issued by the Institute of
Chartered Accounts of India. Basic earnings per share are computed by
dividing the net Profit or Loss for the year by the Weighted Average
number of equity share outstanding during the year. Diluted earnings
per share is computed by dividing the net profit or loss for the year
by weighted average number of equity shares outstanding during the year
as adjusted for the effects of all dilutive potential equity shares,
except where the results are anti-dilutive.
s) Cash Flow Statement:
Cash Flow Statement has been prepared in accordance with requirement of
Accounting Standard - 3 "Cash Flow Statement" issued by the Institute
of Chartered Accountants of India.
Mar 31, 2010
A) Basis of Accounting
The Financial Statements have been prepared under the historical cost
convention on accrual basis in conformity in all material aspects with
the generally accepted accounting principles in India and comply with
Accounting Standards referred to in Section 211 (3C) of the Companies
Act, 1956.
b) Revenue Recognition
Sale of goods is recognized on dispatches to customers, and is
inclusive of excise duty and sales tax (wherever applicable).
c) Use of Estimates
The Preparation of Financial Statements requires estimates and
assumptions to be made that effect the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Difference between
the actual results and estimates are recognized in the period in which
the results are known / materialized.
d) Fixed Assets
Fixed Assets are stated at historicql cost of acquisition less
accumulated depreciation and net of Excise Duty eligible for Cenvat.
Pre-operative expenses and Attributable interest stand Capitalized as
part of asset cost.
e) Depreciation
Depreciation on Fixed Assets have been provided on straight-line method
at the rates prescribed under Schedule XIV of the Companies Act, 1 956
and prorata on additions during the year. Individual low cost assets
acquired at less than Rs.5,000/- are depreciated within the year of
acquisition.
f) Investments
Current investments are carried at the lower of cost and quoted / fair
value, computed category wise. Long Term Investments are stated at
cost. Provision for diminution in the value of long-term investment is
made only if such decline is other than temporary in the opinion of the
management.
g) Impairment:
The carrying amounts of assets are revised at each balance sheet date
if there is any indication of Impairment based on internal and external
factors. An asset is impaired when the carrying amount of the asset
exceeds the recoverable amount.
h) Inventories
Raw Materials, Stores, Spares and work in proqress are valued at cost
including Cenvat credit wherever applicable on first in first out
basis. Finished goods are valued at lower of cost and or estimated net
realisable value. Finished goods and work in progress includes cost of
conversion and other costs including Excise Duty incurred in bringing
the inventories to their present location and condition. Material in
transit are stated at actual cost. Scrap is valued at net realisable
value.
i) Foreign Currency Transactions
Transactions in foreign currency are recorded at the exchange rate,
prevailing on the date of transaction or at the exchange rates under
the related forward exchange contracts. Profit/Loss on outstanding
Foreign Currency contracts have been accounted for at the exchange
rates, prevailing at the year end rates as per FEDAI/RBI.
j) Employee Retirement Benefits
Companys contribution to Provident Fund and Superannuation Fund are
charged to Profit and Loss Account. Gratuity is charged to Profit and
Loss Account.
k) Deferred Revenue Expenditure is amortised over a period of ten
years.
I) Provision for Current and Deferred Tax:
i) Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
ii) Deferred tax resulting from "timing differences" between book and
taxable profit is accounted for using tax rates and laws that have been
enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
that there is a reasonable certainty that the asset will be realised in
future.
m) Provision, Contingent Liabilities and Contingent Assets :
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
event and it is probable that there will be an outflow of resources.
Contingent Liabilities which are not recognized are disclosed in notes.
Contingent Assets are neither recognized nor disclosed in Statements.
n) Turnover
Turnover includes sale price of goods, sales tax, excise duty.
Inter-segment sales are excluded in the Main Profit and Loss account.
o) Segment Reporting
Companys operating Business, organized & Managed unit wise, according
to the nature of the products and services provided, are recognized in
segments representing one or more strategic business units, that offer
products or services of different nature and to different Markets.
p) Prior Period Expenses / Income
Prior period items, if material are separately disclosed in Profit &
Loss Account together with the nature and amount. Extraordinary items &
changes in Accounting Policies having material impact on the financial
affairs of the company are disclosed.
q) Sundry Debtors, Loans and Advances
Doubtful Debts/Advances are written off in the year in which those are
considered to be irrecoverable. r) Earning per Share
The Company reports basic and diluted earnings per share in accordance
with Accounting Standard-20 (AS-20) issued by the Institute of
Chartered Accounts of India. Basic earnings per share are computed by
dividing the net Profit or Loss for the year by the Weighted Average
number of equity share outstanding during the year. Diluted earnings
per share is computed by dividing the net profit or loss for the year
by weighted average number of equity shares outstanding during the year
as adjusted for the effects of all dilutive potential equity shares,
except where the results are anti-dilutive. s) Cash Flow Statement:
Cash Flow Statement has been prepared in accordance with requirement of
Accounting Standard -3 "Cash Flow Statement" issued by the Institute of
Chartered Accountants of India.
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