Mar 31, 2015
A) Method of Accounting
i The accounts of the company are prepared under the historical cost
convention using the accrual method of accounting unless Otherwise
stated hereinafter.
ii) Accounting policies not significantly referred to hereinafter are
consistent with generally accepted accounting principles.
b) Fixed Assets
Fixed Assets are stated at cost of acquisition, inclusive of inward
freight, duties, taxes and incidental expenses related to acquisition
and is net of modvat/cenvat wherever applicable. In respect of projects
involving construction, related pre-operational expenses are
capitalized and form part of the value of the assets capitalized. As
per practice consideration is given at each balance sheet date to
determine whether there is any indication of impairment of the carrying
amount of the company's fixed assets. If any indication exists, an
asset's recoverable amount is estimated.
An impairment loss is recognized whenever the carrying amount of an
asset exceeds its recoverable amount. Recoverable amount is the greater
of the net selling price and value in use.
c) Investments
Long term investments are stated at cost of acquisition. Provision for
diminution in the value of long term investments is made only if such a
decline is other than temporary in the opinion of the management.
d) Inventories
Inventories are valued at cost or net realizable value, whichever is
lower. Cost is computed on weighted average method.
e) Foreign currency transactions
All foreign currency liabilities relating to acquisition of fixed
assets are restated at the rates ruling at the year end and exchange
differences arising on such transactions are adjusted in the cost of
assets..
Other foreign currency assets and liabilities outstanding at the close
of the year are valued at year end exchange rates.
The fluctuations are reflected underthe appropriate revenue head.
f) Depreciation
Depreciation is calculated on fixed assets on straight line method in
accordance with Schedule II of Companies Act, 2013.
Depreciation on amount of additions made to fixed assets on account of
foreign exchange fluctuation is provided for over the residual life of
the fixed assets.
g) Retirement benefits Provision for gratuity is made in the accounts
as per the provisions of Payment of Gratuity Act, 1972. Provision for
leave encashment is made in the accounts on accrual basis.
h) Borrowing costs
Borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset are capitalized as
part of the cost of that asset. Other borrowing costs are recognised as
an expense in the period in which they are incurred.
Capitalization of borrowing costs ceases when substantially all
activities necessary to prepare the qualifying asset for its intended
use or sale are complete.
i) Claims and benefits
Claims receivable and other benefits are accounted on accrual basis to
the extent considered receivable.
j) Revenue recognition
Sales are accounted for ex-warehouse on despatch.
k) Income from Investments/Deposits
Income from investments is credited to revenue in the year in which it
accrues. Income is stated in full with the tax thereon being accounted
for under Income tax deducted at source.
l) Taxation
Provision for taxation is based on assessable profits of the company as
determined under Income Tax Act, 1961.
Deferred taxation is provided using the liability method in respect of
taxation effect arising from all material timing difference between
accounting and tax treatment of income and expenditure which are
expected with reasonable probability to crystallize in the foreseeable
future.
Deferred tax benefits are recognized in the financial statements only
to the extent of any deferred tax liability or when such benefits are
reasonably expected to be realizable in the nearfuture.
m) Earnings pershare
Basic earning per share is calculated by dividing the net profit for
the year attributable to equity shareholders (after deducting the
redeemable preference share dividend) by the weighted average number of
equity shares outstanding during the year.
Diluted earning per share is calculated by dividing the net profits
attributable to equity shareholders (after deducting dividend on
redeemable preference shares) by the weighted average number of equity
shares outstanding during the year (adjusted forthe effects of dilutive
options).
n) Events occruing after the balance sheet date
Events occruing after the balance sheet date have been considered in
the preparation of financial statements.
o) Contingent Liabilities
Contingent Liabilities as defined in Accounting Standard-29 are
disclosed by way of accompanying notes to financial statements.
Provision is made if it becomes probable that an outflow of future
economic benefit will be required for an item previously dealt with as
a contingent liability.
Mar 31, 2014
A) Method of Accounting
i) The accounts of the company are prepared under the historical cost
convention using the accrual method of accounting unless otherwise
stated hereinafter.
ii) Accounting policies not significantly referred to hereinafter are
consistent with generally accepted accounting principles.
b) Fixed Assets
Fixed Assets are stated at cost of acquisition, inclusive of inward
freight, duties, taxes and incidental expenses related to acquisition
and is net of modvat/cenvat wherever applicable. In respect of projects
involving construction, related pre-operational expenses are
capitalized and form part of the value of the assets capitalized. As
per practice consideration is given at each balance sheet date to
determine whether there is any indication of impairment of the carrying
amount of the company''s fixed assets. If any indication exists, an
asset''s recoverable amount is estimated.
An impairment loss is recognized whenever the carrying amount of an
asset exceeds its recoverable amount. Recoverable amount is the greater
of the net selling price and value in use.
c) Investments
Long term investments are stated at cost of acquisition. Provision for
diminution in the value of long term investments is made only if such a
decline is other than temporary in the opinion of the management.
d) Inventories
Inventories are valued at cost or net realizable value, whichever is
lower. Cost is computed on weighted average method
e) Foreign currency transactions
All foreign currency liabilities relating to acquisition of fixed
assets are restated at the rates ruling at the year end and exchange
differences arising on such transactions are adjusted in the cost of
assets.
Other foreign currency assets and liabilities outstanding at the close
of the year are valued at year end exchange rates.
The fluctuations are reflected under the appropriate revenue head.
f) Depreciation
Depreciation is calculated on fixed assets on straight line method in
accordance with Schedule XIV of Companies Act, 1956.
Depreciation on amount of additions made to fixed assets on account of
foreign exchange fluctuation is provided for over the residual life of
the fixed assets.
g) Retirement benefits
Provision for gratuity is made in the accounts as per the provisions of
Payment of Gratuity Act, 1972. Provision for leave encashment is made
in the accounts on accrual basis.
h) Borrowing costs
Borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset are capitalized as
part of the cost of that asset. Other borrowing costs are recognised as
an expense in the period in which they are incurred.
Capitalization of borrowing costs ceases when substantially all
activities necessary to prepare the qualifying asset for its intended
use or sale are complete.
i) Claims and benefits
Claims receivable and other benefits are accounted on accrual basis to
the extent considered receivable.
j) Revenue recognition
Sales are accounted for ex-warehouse on despatch.
k) Income from Investments/Deposits
Income from investments is credited to revenue in the year in which it
accrues. Income is stated in full with the tax thereon being accounted
for under Income tax deducted at source.
l) Taxation
Provision for taxation is based on assessable profits of the company as
determined under Income Ta x Act, 1961.
Deferred taxation is provided using the liability method in respect of
taxation effect arising from all material timing difference between
accounting and tax treatment of income and expenditure which are
expected with reasonable probability to crystallize in the foreseeable
future.
Deferred tax benefits are recognized in the financial statements only
to the extent of any deferred tax liability or when such benefits are
reasonably expected to be realizable in the near future.
m) Earnings per share
Basic earning per share is calculated by dividing the net profit for
the year attributable to equity shareholders (after deducting the
redeemable preference share dividend) by the weighted average number of
equity shares outstanding during the year.
Diluted earning per share is calculated by dividing the net profits
attributable to equity shareholders (after deducting dividend on
redeemable preference shares) by the weighted average number of equity
shares outstanding during the year (adjusted for the effects of
dilutive options).
n) Events occruing after the balance sheet date
Events accuring after the balance sheet date have been considered in
the preparation of financial statements.
o) Contingent Liabilities
Contingent Liabilities as defined in Accounting Standard-29 are
disclosed by way of accompanying notes to financial statements.
Provision is made if it becomes probable that an outflow of future
economic benefit will be required for an item previously dealt with as
a contingent liability.
Mar 31, 2013
A) Method of Accounting
i) The accounts of the company are prepared under the historical cost
convention using the accrual method of accounting unless otherwise
stated hereinafter.
ii) Accounting policies not significantly referred to hereinafter are
consistent with generally accepted accounting principles.
b) Fixed Assets
Fixed Assets are stated at cost of acquisition, inclusive of inward
freight, duties, taxes and incidental expenses related to acquisition
and is net of modvat/cenvat wherever applicable. In respect of projects
involving construction, related pre-operational expenses are
capitalized and form part of the value of the assets capitalized. As
per practice consideration is given at each balance sheet date to
determine whether there is any indication of impairment of the carrying
amount of the company''s fixed assets. If any indication exists, an
asset''s recoverable amount is estimated.
An impairment loss is recognized whenever the carrying amount of an
asset exceeds its recoverable amount. Recoverable amount is the greater
of the net selling price and value in use.
c) Investments
Long term investments are stated at cost of acquisition. Provision for
diminution in the value of long term investments is made only if such a
decline is other than temporary in the opinion of the management.
d) Inventories
Inventories are valued at cost or net realizable value, whichever is
lower. Cost is computed on weighted average method.
e) Foreign currency transactions
All foreign currency liabilities relating to acquisition of fixed
assets are restated at the rates ruling at the year end and exchange
differences arising on such transactions are adjusted in the cost of
assets.
Other foreign currency assets and liabilities outstanding at the close
of the year are valued at year end exchange rates.
The fluctuations are reflected under the appropriate revenue head.
f) Depreciation
Depreciation is calculated on fixed assets on straight line method in
accordance with Schedule XIV of Companies Act, 1956.
Depreciation on amount of additions made to fixed assets on account of
foreign exchange fluctuation is provided for over the residual life of
the fixed assets.
g) Retirement benefits
Provision for gratuity is made in the accounts as per the provisions of
Payment of Gratuity Act, 1972. Provision for leave encashment is made
in the accounts on accrual basis.
h) Borrowing costs
Borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset are capitalized as
part of the cost of that asset. Other borrowing costs are recognised as
an expense in the period in which they are incurred.
Capitalization of borrowing costs ceases when substantially all
activities necessary to prepare the qualifying asset for its intended
use or sale are complete.
i) Claims and benefits
Claims receivable and other benefits are accounted on accrual basis to
the extent considered receivable.
j) Revenue recognition
Sales are accounted for ex-warehouse on despatch.
k) Income from Investments/Deposits
Income from investments is credited to revenue in the year in which it
accrues. Income is stated in full with the tax thereon being accounted
for under Income tax deducted at source.
l) Taxation
Provision for taxation is based on assessable profits of the company as
determined under Income Tax Act, 1961.
Deferred taxation is provided using the liability method in respect of
taxation effect arising from all material timing difference between
accounting and tax treatment of income and expenditure which are
expected with reasonable probability to crystallize in the foreseeable
future.
Deferred tax benefits are recognized in the financial statements only
to the extent of any deferred tax liability or when such benefits are
reasonably expected to be realizable in the near future.
m) Earnings per share
Basic earning per share is calculated by dividing the net profit for
the year attributable to equity shareholders (after deducting the
redeemable preference share dividend) by the weighted average number of
equity shares outstanding during the year.
Diluted earning per share is calculated by dividing the net profits
attributable to equity shareholders (after deducting dividend on
redeemable preference shares) by the weighted average number of equity
shares outstanding during the year (adjusted for the effects of
dilutive options).
n) Events occruing after the balance sheet date
Events accuring after the balance sheet date have been considered in
the preparation of financial statements.
o) Contingent Liabilities
Contingent Liabilities as defined in Accounting Standard-29 are
disclosed by way of accompanying notes to financial statements.
Provision is made if it becomes probable that an outflow of future
economic benefit will be required for an item previously dealt with as
a Contingent Liability.
Mar 31, 2012
A) Method of Accounting
i) The accounts of the company are prepared under the historical cost
convention using the accrual method of accounting unless otherwise
stated hereinafter.
ii) Accounting policies not significantly referred to hereinafter are
consistent with generally accepted accounting principles.
b) Fixed Assets
Fixed Assets are stated at cost of acquisition, inclusive of inward
freight, duties, taxes and incidental expenses related to acquisition
and is net of modvat/cenvat wherever applicable. In respect of projects
involving construction, related pre-operational expenses are
capitalized and form part of the value of the assets capitalized. As
per practice consideration is given at each balance sheet date to
determine whether there is any indication of impairment of the carrying
amount of the company's fixed assets. If any indication exists, an
asset's recoverable amount is estimated.
An impairment loss is recognized whenever the carrying amount of an
asset exceeds its recoverable amount. Recoverable amount is the greater
of the net selling price and value in use.
c) Investments
Long term investments are stated at cost of acquisition. Provision for
diminution in the value of long term investments is made only if such a
decline is other than temporary in the opinion of the management.
d) Inventories
Inventories are valued at cost or net realizable value, whichever is
lower. Cost is computed on weighted average method.
e) Foreign currency transactions
All foreign currency liabilities relating to acquisition of fixed
assets are restated at the rates ruling at the year end and exchange
differences arising on such transactions are adjusted in the cost of
assets.
Other foreign currency assets and liabilities outstanding at the close
of the year are valued at year end exchange rates.
The fluctuations are reflected under the appropriate revenue head.
f) Depreciation
Depreciation is calculated on fixed assets on straight line method in
accordance with Schedule XIV of Companies Act, 1956.
Depreciation on amount of additions made to fixed assets on account of
foreign exchange fluctuation is provided for over the residual life of
the fixed assets.
g) Retirement benefits
Provision for gratuity is made in the accounts as per the provisions of
Payment of Gratuity Act, 1972. Provision for leave encashment is made
in the accounts on accrual basis.
h) Borrowing costs
Borrowing costs that are directly attributable to the acquisition,
construction or production of a qualifying asset are capitalized as
part of the cost of that asset. Other borrowing costs are recognised as
an expense in the period in which they are incurred.
Capitalization of borrowing costs ceases when substantially all
activities necessary to prepare the qualifying asset for its intended
use or sale are complete.
i) Claims and benefits
Claims receivable and other benefits are accounted on accrual basis to
the extent considered receivable.
j) Revenue recognition
Sales are accounted for ex-warehouse on despatch.
k) Income from Investments/Deposits
Income from investments is credited to revenue in the year in which it
accrues. Income is stated in full with the tax thereon being accounted
for under Income tax deducted at source.
l) Taxation
Provision for taxation is based on assessable profits of the company as
determined under Income Tax Act, 1961.
Deferred taxation is provided using the liability method in respect of
taxation effect arising from all material timing difference between
accounting and tax treatment of income and expenditure which are
expected with reasonable probability to crystallize in the foreseeable
future.
Deferred tax benefits are recognized in the financial statements only
to the extent of any deferred tax liability or when such benefits are
reasonably expected to be realizable in the near future.
m) Earnings per share
Basic earning per share is calculated by dividing the net profit for
the year attributable to equity shareholders (after deducting the
redeemable preference share dividend) by the weighted average number of
equity shares outstanding during the year
Diluted earning per share is calculated by dividing the net profits
attributable to equity shareholders (after deducting dividend on
redeemable preference shares) by the weighted average number of equity
shares outstanding during the year (adjusted for the effects of
dilutive options).
n) Events occruing after the balance sheet date
Events accuring after the balance sheet date have been considered in
the preparation of financial statements.
o) Contingent Liabilities
Contingent Liabilities as defined in Accounting Standard-29 are
disclosed by way of accompanying notes to financial statements.
Provision is made if it becomes probable that an outflow of future
economic benefit will be required for an item previously dealt with as
a contingent liability.
Mar 31, 2011
(a) Method of Accounting
i) The accounts of the company are prepared under the historical cost
convention using the accrual method of accounting unless otherwise
stated hereinafter.
ii) Accounting policies not sigificantly referred to are consistent
with generally accepted accounting principles.
(b) Fixed Assets
i) Fixed assets are stated at cost of acquisition inclusive of inward
freight, duties & taxes and incidental expenses related to acquisition.
In respect of major projects involving construction,related
pre-operational expenses form part of the value of assets capitalised.
ii) Fixed assets acquired under hire purchase schemes are capitalised
at their principal value and hire charges are expensed. Fixed assets
taken on lease are not treated as assets of the company and lease
rentals are charged of as revenue expenses.Hire charges/lease rentals
pertaining to the period upto the date of commissioning of the assets
are capitalised.
iii) Consideration is given at each balance sheet date to determine
whether there is any indication of impairment of the carrying amount of
the company's fixed assets. If any indication exists an asset's
recoverable amount is estimated. An impairment loss is recognised
whenever the carrying amount of an asset exceeds its recoverable
amount. Recoverable amount is the higher of an assetÃs net selling
price or its value in use. Value in use is the present value of its
estimated future cash flows expected to arise from the continuing use
of an asset and from its disposal at the end of its useful life.
(c) Investments
Investments are stated at lower of cost and quoted/fair value.
(d) Inventories
Inventories (including traded goods) are valued at lower of cost and
net realisable value. Cost is computed on weighted average basis,
Finished goods and work in progress include cost of conversion and
other costs incurred in bringing the inventories to their present
location and condition. Obsolete, defective and unserveciable stock are
duly provided for.
(e) Sales
Sales are accounted for ex-factory / warehouse on despatch.
(f) Claims and Benefits
Claims recoverable are accounted for on accrual basis.
(g) lncome from Investments/ Deposits
Income from Investments/Deposits is credited to revenue in the year in
which it accrues.Income is stated in full with the tax thereon being
accounted for under income tax deducted at source.
(h) Employees
Provision for gratuity is made in the accounts as per the provisions of
Payment of Gratuity Act, 1972. Provision for leave encashment is made
in the accounts on accrual basis.
(i) Research & Development
While revenue expenditure on research & development is charged against
the profit of the year in which It is incurred, capital expenditure is
shown as an addition to fixed assets.
(j) Borrowing Cost
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantive period of time to get ready for intended use. All other
borrowing costs are charged to revenue.
(k) Depreciation
Depreciation is calculated on fixed assets on straight line method at
the rates and in the manner prescribed in Schedule XIV of the Companies
Act, 1956. The classification of plant and machinery into continuous
and non-continuous is done as per technical assessment and depreciation
thereon is provided accordingly.
(l) Earning per Share
Basic earning per share is calculated by dividing the net profit for
the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year.
Diluted earning per share is calculated by dividing the net profit
attributable to equity shareholders by the weighted average number of
equity shares outstanding during the year (adjusted for the effects of
dilutive options)
(m) Deferred Taxation
Deferred taxation is provided using the liability method in respect of
the tax effect arising from all material timing differences between the
accounting and tax treatment of income and expenditure which are
expected with reasonable probability to crystalize in the foreseeable
future.
Deferred tax benefits are recognised in the financial statements only
to the extent of any deferred tax liability or when such benefits are
reasonably expected to be realised in the near future.
(n) Event occuring after balance sheet date
Events occuring after the balance sheet date have been considered in
the preparation of financial statements.
(o) Contingent Liabilities
Unprovided contingent liabilities are disclosed in the accounts by way
of notes giving nature and quantum of such liabilities.
Mar 31, 2010
(a) Method of Accounting
i) The accounts of the company are prepared under the historical cost
convention using the accrual method of accounting unless otherwise
stated hereinafter ii) Accounting policies not sigificantly referred to
are consistent with generally accepted accounting principles.
(b) Fixed Assets
i) Fixed assets are stated at cost of acquisition inclusive of inward
freight, duties & taxes and incidental expenses related to acquisition
In respect of major projects involving construction,related
pre-operational expenses form part of the value of assets capitalised,
ii) Fixed assets acquired under hire purchase schemes are capitalised
at their principal value and hire charges are expensed. Fixed assets
taken on lease are not treated as assets of the company and lease
rentals are charged of as revenue expenses.Hire charges/lease rentals
pertaining to the period upto the date of commissioning of the assets
are capitalised.
iii) Consideration is given at each balance sheet date to determine
whether there is any indication of impairment of the carrying amount of
the companys fixed assets If any indication exists an assets
recoverable amount is estimated. An impairment loss is recognised
whenever the carrying amount of an asset exceeds its recoverable amount
Recoverable amount is the higher of an assets net selling price or its
value in use. Value in use is the present value of its estimated future
cash flows expected to arise from the continuing use of an asset and
from its disposal at the end of its useful life
(c) Investments
Investments are stated at lower of cost and quoted/fair value
(d) Inventories
Inventories (including traded goods) are valued at lower of cost and
net realisable value Cost is computed on weighted average basis,
Finished goods and work in. progress include cost of à conversion and
other costs incurred in bringing the inventories to their present
location and condition. Obsolete, defective and unserveciable stock are
duly provided for.
(e) Sales
Sales are accounted for ex-factory / warehouse on despatch.
(f) Claims and Benefits
Claims recoverable are accounted for on accrual basis.
(g) Income from Investments/ Deposits
Income from Investments/Deposits is credited to revenue in the year in
which it accrues.Income is stated in full with the tax thereon being
accounted for under income tax deducted at source
(h) Employees
Provision for gratuity is made in the accounts as per the provisions of
Payment of Gratuity Act, 1972. Provision for leave encashment is made
in the accounts on accrual basis
(i) Research & Development
While revenue expenditure on research & development is charged against
the profit of the year in which It is incurred, capital expenditure is
shown as an addition to fixed assets,
(j) Borrowing Cost
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes
substantive period of time to get ready for intended use. AW other
borrowing costs are charged to revenue
(k) Depreciation
Depreciation is calculated on fixed assets on straight line method at
the rates and in the manner prescribed in Schedule XIV of the Companies
Act 1956
(l) Earning per Share
Basic earning per share is calculated by dividing the net profit for
the year attributable to equity shareholders by the. weighted average
number of equity shares outstanding during the year Diluted earning per
share is calculated by dividing the net profit attributable to equity
shareholders by the weighted average number of equity shares
outstanding during the year (adjusted for the effects of dilutive
options)
(m) Deferred Taxation
Deferred taxation is provided using the liability method in respect of
the tax effect arising from all material timing differences between the
accounting and tax treatment of income and expenditure which are
expected with reasonable probability to crystalize in the foreseeable
future Deferred tax benefits are recognised in the financial statements
only to the extent of any deferred tax liability or when such benefits
are reasonably expected to be realised in the near future
(n) Event occuring after balance sheet date
Events occuring after the balance sheet date have been considered in
the preparation of financial statements.
(o) Contingent Liabilities
Unprovided contingent liabilities are disclosed in the accounts by way
of notes giving nature and quantum of such liabilities.
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