Mar 31, 2014
1.1 Corporate information
SAND PLAST (INDIA) LIMITED situated at DVB ash pond. Adjacent to Nagla
Machi CNG station. Ring Road. New Delhi - 110002. Engaged In the
Manufacturing of SAND LIME FLY ASH BRICK made up of Fly ash sand time
as main raw material
1.2 Basis of accounting and preparation of financial statements
Tha financial statements have baan prepared in accordance With iha
historical cost convention on the going concern basis System of
accounting followed is Mercantile System .in accordance with the
generally accepted accounting principles and the provisions of the
Companies Act, 1956. on consistent basis. Accounting policies not
specilicaily referred to are consistent with generally accepted
accounting principles followed by the company
1.3 Use of estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates end assumptions
considered in 'the reported amounts of assets and liabilities
(Including contingent liabilities and the reported income and expenses
during She year The Managment believes that tie. eslimatea used in
preparation of the financial statements are prudent and reasonable
Future results Could differ due to these estimates ana the differences
between the actual results and the usimates are recognised in the
periods in which the results are known I materialise
1.4 Inventories
lnventories are valued at the lower of cost (on FIFO / weighted average
basis} or the net realisable value aftar providing for obserscence and
other losses where considered necessary Cost includes all charges in
bringing the goods to the point of sale including Sales Tax and other
levies, transit insurance and receiving charges. Work-in-'progre3s and
finished goods include appropriate proportion of overheads and where
applicate.
* Finished goods are valued a: cost or martial value, whichever is
lower.
* Raw' materials, stores, spares and tools are valued at cost
* Work in progress is valued at cost
1.5 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hard and demand deposits with banks Cash
equivalents are short-term balances (with an original maferiiy of three
months or less from the date of acquistion(, highly liquid investments
that are readily convertible into known amounts of cash and which
subject 10 insignificant risk of changes in value.
1.6 Cash flow statement
Cash flows are reported using the indirect method whereby profit /
(loss) before extraordinary Items and tax is adjusted for the effects
of transaction of noncash nature and any deferrals or accruals of past
of future cash receipts or payments the cash flows from operating,
investing and financing activities of the Company are segregatd based
on lire available information.
1.7 Unpreciation and amortisation
Depreciation has been provided on the straight-line method as per the
rales prescribed in Schedule XIV to the Companies Act. 1956 except in
respect of the following categories of assets, in whose case the life
of the assets has been assessed
1.8 Revenue recognition
Sale of goods
Revenue is reccgniispd when sales are completed which generally
coincide with the casspge cf title la the customer t delivery of goods
/ render of services
1.9 Other income
Interest income is accounted on accrual basis Miscellaneous income is
recognised as earning
1.10 Tangible fixed assets
Fixed assets except Assets at Behror and Land are carried at cost less
accumulated depreciation and impairment losses if any. The cost of
fixed assets includes interest on borrowings attributable to acquisiSon
of quatitying fixed assets op to the date the asset is ready for its
intended use and other incidental expenses incurred up to that date
Exchange differences arising on restatement / sefltement of long-term
foreign currency borrowings relating to acquisition of dopcaciablo
fixed assets are adjusted to the oosl of the respective assets and
depreciated over the remaining useful life of such, assets Machinery
scares which can be Listed only ip connection with an item of fixed
asset and whiste lisa is expected to be ii tegular arte cao.teiisted
its Capital Work In Progress and No depriciatiion has bteen claimed on
it so far subsequent expenditure relating to fixed assets is
capitalised only if such expenditure results in an increase in the
future benefits from such asset beyond its previously assessed standard
of performance
1.11 Investments
Investments are Carried At cost
1.12 Employee benefits
Emptoyee benefits include provident fund compensated absences, long
service awards arte post employment medical benefits.
Defined contribution plans
The Company's contribution to Provident Fund and ESI forte are
considered as defined contribution plans and are charged as an expense
as they fall due based on the amount of contribution required to be-
made.
1.13 Segment reporting
As Informed by the management, me same s not applicable to the company
as company has deed with only one fragment during the year (Previous
year NIL segments)
1.14 Earnings par share
Basic earnings ner share is computed by dividing the profit / loss
after tax (including the post tax effect of extraordinary iterms, if
any by the weighted average number of equity shares outstanding during
the year Diluted earnings per share is computed by dividing me profit i
loss after tax (including the post tax effect of extraordinary iiems.
if anyf as adjusied for dividend, interest ar.d other charges to
expanse or income Mating to the tfiiutive potential equity shares, by
the weighted average humtisr of equity shares considered tier deriving
basic sam.rgis per share and ice weighted average number qi equity
shapes wtech could have buom .ssued on the conversion of ail ullubve
uol*rd>al equity shares Potsnbat equey Sh&teS are deemed te be dilutive
uuly if their conversion :c equity shares would decrease the net profit
per share from continuing okrdinary operations potential ftlislnie
equity shares are deemed to be converted as at the begining of the
period unless they nave bean issued at a later date The dilutive
potential equity shares ore actuated for the proceeds receivable had
the shares bean actualy issued at fair value (i a. average market value
oFthe outalaocintj shsnesf Dilulsva (idtenfisij equity snares ere
determned mdependeniiy lor each oeood presented The Piimner or equiiy
snares sod potemcaiv dilulivu aqiily sitares are adjusted Tor share
spins I reverse share splits and bonus, shares, as appropriate.
1.15 Term Loan
Secured term loan represent amount after restructuring under me B'FR
scheme.
1.16 Share issues expenses
Preliminary, share issue exp and deferred; exp. are amortized over a
period of 20 years only out of profit
1.17 Service tax input credit
Series lax input credit is not accounted tor in the books in the period
in which the underlying service received Is not accounted and when
there is no uncertainty in availing / utilising the credits.
Mar 31, 2013
1.1 Corporate information
SAND PLAST (INDIA) LIMITED situated at DVB ash pond, Adjacent to Nagla
Machi CNG Station, Ring Road, New Delhi - 110002. Engaged in the
Manufacturing of SAND LIME FLY ASH BRICK made up of Fly ash , sand,
lime as main raw material.
1.2 Basis of accounting and preparation of financial statements
The financial statements have been prepared in accordance with the
historical cost convention on the going concern basis. System of
accounting followed is Mercantile System in accordance with the
generally accepted accounting principles and the provisions of the
Companies Act''1956, on consistent basis. Accounting policies not
specifically referred to are consistent with generally accepted
accounting principles followed by the company.
1.3 Use of estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognised in the periods in which
the results are known / materialise.
1.4 Inventories
Inventories are valued at the lower of cost (on FIFO / weighted average
basis) or the net realisable value after providing for obsolescence and
other losses, where considered necessary. Cost includes all charges in
bringing the goods to the point of sale, including Sales Tax and other
levies, transit insurance and receiving charges. Work-in-progress and
finished goods include appropriate proportion of overheads and, where
applicable.
- Finished goods are valued at cost or market value, whichever is
lower.
- Raw materials, stores, spares and tools are valued at cost.
- Work in progress is valued at cost
1.5 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short-term balances (with an original maturity of three
months or less from the date of acquisition), highly liquid investments
that are readily convertible into known amounts of cash and which are
subject to insignificant risk of changes in value.
1.6 Cash flow statement
Cash flows are reported using the indirect method, whereby profit /
(loss) before extraordinary items and tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments. The cash flows from
operating, investing and financing activities of the Company are
segregated based on the available information.
1.7 Depreciation and amortisation
Depreciation has been provided on the straight-line method as per the
rates prescribed in Schedule XIV to the Companies Act, 1956 except in
respect of the following categories of assets, in whose case the life
of the assets has been assessed.
1.8 Revenue recognition ''
Sale of goods
Revenue is recognized when sales are completed which generally coincide
with the passage of title to the customer I delivery of goods /
rendering of services.
1.9 Other income
Interest income Is accounted on accrual basis. Miscellaneous income is
recognised as earning.
1.10 Tangible fixed assets
Fixed assets, except Assets at Behror and Land are carried at cost less
accumulated depreciation and impairment losses, if any. The cost of
fixed assets includes interest on borrowings attributable to
acquisition of qualifying fixed assets up to the date the asset is
ready for its intended use and other incidental expenses incurred up to
that date. Exchange differences arising on restatement / settlement of
long-term foreign currency borrowings relating to acquisition of
depreciable fixed assets are adjusted to the cost of the respective
assets and depreciated over the remaining useful life of such assets.
Machinery spares which can be used only in connection with an item of
fixed asset and whose use is expected to be irregular are capitalised
as Capital Work In Progress and No depriciation has been claimed on it
so far. Subsequent expenditure relating to fixed assets is capitalised
only if such expenditure results in an increase in the future benefits
from such asset beyond its previously assessed standard of performance.
1.11 Investments
Investments are Carried At cost
1.12 Employee benefits
Employee benefits include provident fund, compensated absences, long
service awards and post-employment medical benefits.
Defined contribution plans
The Company''s contribution to Provident Fund and ESI fund are
considered as defined contribution plans and are charged as an expense
as they fall due based on the amount of contribution required to be
made.
1.13 Segment reporting
As informed by the management, the same is not applicable to the
company, as company has dealt with only one segment during the year.
(Previous year - NIL segments).
1.14 Earnings per share
Basic earnings per share is computed by dividing the profit / (loss)
after tax (including the post tax effect of extraordinary items, if
any) by the weighted average number of equity shares outstanding during
the year. Diluted earnings per share is computed by dividing the profit
/ (loss) after tax (including the post tax effect of extraordinary
items, if any) as adjusted for dividend, interest and other charges to
expense or income relating to the dilutive potential equity shares, by
the weighted average number of equity shares considered for deriving
basic earnings per share and the weighted average number of equity
shares which could have been issued on the conversion of all dilutive
potential equity shares. Potential equity shares are deemed to be
dilutive only if their conversion to equity shares would decrease the
net profit per share from continuing ordinary operations. Potential
dilutive equity shares are deemed to be converted as at the beginning
of the period, unless they have been issued at a later date. The
dilutive potential equity shares are adjusted for the proceeds
receivable had the shares been actually issued at fair value (i.e.
average market value of the outstanding shares). Dilutive potential
equity shares are determined independently for each period presented.
The number of equity shares and potentially dilutive equity shares are
adjusted for share splits / reverse share splits and bonus shares, as
appropriate.
1.15 Term Loan
Secured term loan represent amount after restructuring under the BIFR
scheme.
1.16 Share issues expenses ''
Preliminary, share issue exp. and deferred exp. are amortized over a
period of 20 years only out of profit.
1.17 Service tax input credit
Service tax input credit is not accounted for in the books in the
period in which the underlying service received is not accounted
and when there is no uncertainty in availing / utilising the credits.
Mar 31, 2011
1.1 ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with the
historical cost convention on the going concern basis. System of
accounting followed is Mercantile System in accordance with the
generally accepted accounting principles and the provisions of the
Companies Act'1956, on consistent basis. Accounting policies not
specifically referred to are consistent with generally accepted
accounting principles followed by the company.
1.2 FIXED ASSETS
Fixed assets are recorded at cost or are based on payments in case of
hire purchase and are stated at historical cost less depreciation.
1.3 DEPRECIATION
Depreciation is charged on straight-line method on pro-rata basis in
accordance with the rates specified in Schedule-XIV of the Companies
Act'1956.
1.4 REVENUE RECOGNITION
Revenue is recognized when sales are completed which generally coincide
with the passage of title to the customer / delivery of goods /
rendering of services.
1.5 INVENTORIES
- Finished goods are valued at cost or market value, whichever is
lower.
- Raw materials, stores, spares and tools are valued at cost.
- Work in progress is valued at cost
1.6 Preliminary, share issue exp. and deferred exp. are amortized over
a period of 20 years only out of profit. 2.0 Secured term loans
represent amount after restructuring under the BIFR Scheme.
Mar 31, 2010
1.1 ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with the
historical cost convention on the going concern basis. System of
accounting followed is Mercantile System in accordance with the
generally accepted accounting principles and the provisions of the
Companies Act 1956, on consistent basis. Accounting policies not
specifically referred to are consistent with generally accepted
accounting principles followed by the company.
1.2 FIXED ASSETS
Fixed assets are recorded at cost or are based on payments in case of
hire purchase and are stated at historical cost less depreciation.
1.3 DEPRECIATION
Depreciation is charged on straight-line method on pro-rata basis in
accordance with the rates specified in Schedule-XIV of the Companies
Act1956.
1.4 REVENUE RECOGNITION
Revenue is recognized when sales are completed which generally coincide
with the passage of title to the customer/ delivery of goods /
rendering of services.
1.5 INVENTORIES
- Finished goods are valued at cost or market value, whichever is
lower.
- Raw materials, stores, spares and tools are valued at cost.
- Work in progress is valued at cost
1.6 Preliminary, share issue exp. and deferred exp. are amortized over
a period of 20 years only out of profit. 2.0 Secured term loans
represent amount after restructuring under the BIFR Scheme.
Mar 31, 2000
1.1 ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with the
historical cost convention.
1.2 FIXED ASSETS
Fixed Assets are recorded at cost or are based on payments in case of
Hire Purchase and are stated at historical cost less depreciation.
1.3 DEPRECIATION
Depreciation has been charged on straight line method on propata basis
in accordance with the rates specified in Schedule-XIV of the Companies
Act,1956, on assets in use as certified by the management.
1.4 REVENUE RECOGNITION
Revenue is recognised when sales are completed which generally
coincides with the passage of title to the customer/delivery of
goods/rendering of services.
1.5 INVENTORIES
- Finished goods are valued at cost or market value;, whichever is
lower.
- Raw materials are valued at cost.
- Work in progress is valued at cost.
- Stores, spares and tools are valued at cost.
- Cost includes direct and manufacturing cost in case of work in
progress and finished goods.
1.6 Preliminary and share issue expenses are amortized over a period of
20 years out of profits.