Mar 31, 2015
A. ACCOUNTING CONCEPTS
The financial accounts are prepared under the historical cost
convention on the accrual basis of accounting and in accordance with
Accounting Standards.
B. FIXED ASSETS
Fixed assets are stated at cost (including other expenses related to
acquisition and installation) less accumulated depreciation /
amortisation adjusted by revaluation of certain fixed assets.
C. DEPRECIATION
Depreciation on fixed assets including revalued assets i.e. Building
and Plant & Machineries is provided on straight line method at the
rates and in the manner prescribed in Schedule II of the Companies Act,
2013. The cost of lease hold land (revalued) is amortized over the
unexpired period of lease from the date of lease.
D. INVESTMENTS
Investments are shown at cost.
E. INVENTORIES
Inventories are valued at lower of cost and Net Realizable value.
The cost of raw materials, consumables and packing materials is
computed on first-in-first-out basis, Stock in process is valued at
cost comprising of raw materials and direct expenses.
Finished goods include cost of conversion and other costs incurred in
bringing the inventories to their present location and condition.
F. CLASSIFICATION OF ASSETS AND LIABILITIES AS CURRENT AND NON-CURRENT
All assets and liabilities are classified as current or non-current as
per Company's normal operating cycle and other criteria set out in
Schedule III to the company's Act, 2013. Based in the nature of
products and time between the acquisition of assets for processing and
their realization in cash & cash equivalent, twelve months has been
considered by the Company for the purpose of current, non- current
classification of assets & liabilities.
G. RETIREMENT BENEFITS
Retirement benefits consisting of gratuity and leave encashment in
respect of employees are accounted on the basis of valuation done by an
independent firm of actuaries.
H. SALES
Sales is exclusive of Excise Duty / Taxes and also does not include
recoveries such as transportation, insurance etc. which are set off
against the respective expense heads.
I. FOREIGN CURRENCY TRANSACTIONS
Foreign currency transactions, on initial recognition, are recorded by
applying to the foreign currency amount the exchange rate at the date
of the transaction. At each Balance Sheet date, foreign currency
monetary items are reported using the closing rate in foreign currency.
J. PROVISIONS / CONTINGENCIES
Contingent liabilities are not recognized but are disclosed in the
financial statements. Claims against the Company where the possibility
of materialization is remote are not considered as contingent
liabilities.
Contingent assets are neither recognized nor disclosed in the financial
statements.
Mar 31, 2014
A. ACCOUNTING CONCEPTS
The financial accounts are prepared under the historical cost
convention on the accrual basis of accounting and in accordance with
Accounting Standards.
B. FIXED ASSETS
Fixed assets are stated at cost (including other expenses related to
acquisition and installation) less accumulated depreciation /
amortisation adjusted by revaluation of certain fixed assets.
C. DEPRECIATION
Depreciation on fixed assets including revalued assets i.e. Building
and Plant & Machineries is provided on straight line method at the
rates and in the manner prescribed in Schedule XIV of the Companies
Act, 1956. The cost of lease hold land (revalued) is amortized over the
unexpired period of lease from the date of lease.
D. INVESTMENTS
Investments are shown at cost.
E. INVENTORIES
Inventories are valued at lower cost and Net Realizable value.
The cost of raw materials, consumables and packing materials is
computed on first-in-first-out basis, Stock in process is valued at
cost comprising of raw materials and direct expenses.
Finished goods include cost of conversion and other costs incurred in
bringing the inventories to their present location and condition.
F. CLASSIFICATION OF ASSETS AND LIABILITIES AS CURRENT AND NON-CURRENT
All assets and liabilities are classified as current or non-current as
per Company''s normal operating cycle and other criteria set out in
Schedule VI to the company''s Act, 1956. Based in the nature of products
and time between the acquisition of assets for processing and their
realization in cash & cash equivalent, 12 months has been considered by
the Company for the purpose of current-non current classification of
assets & liabilities.
G. RETIREMENT BENEFITS
Retirement benefits consisting of gratuity and leave encashment in
respect of employees are accounted on the basis of valuation done by
Kotak Mahindra Old Mutual Life Insurance Ltd. and an independent firm
of actuaries respectively to arrive at year end figures.
H. SALES
Sales is exclusive of Excise Duty / Taxes and also does not include
recoveries such as transportation, insurance etc. which are set off
against the respective expense heads.
I. FOREIGN CURRENCY TRANSACTIONS
Foreign currency transactions, on initial recognition, are recorded by
applying to the foreign currency amount the exchange rate at the date
of the transaction. At each Balance Sheet date, foreign currency
monetary items are reported using the closing rate in foreign currency.
J. PROVISIONS / CONTINGENCIES
Contingent liabilities are not recognized but are disclosed in the
financial statements. Claims against the Company where the possibility
of materialization is remote are not considered as contingent
liabilities.
Mar 31, 2013
A. ACCOUNTING CONCEPTS
The financial accounts are prepared under the historical cost
convention on the accrual basis of accounting and in accordance with
Accounting Standards.
B. FIXED ASSETS
Fixed assets are stated at cost (including other expenses related to
acquisition and installation) less accumulated depreciation /
amortisation adjusted by revaluation of certain fixed assets.
C. DEPRECIATION
Depreciation on fixed assets including revalued assets i.e. Building
and Plant & Machineries is provided on straight line method at the
rates and in the manner prescribed in Schedule XIV of the Companies
Act, 1956. The cost of lease hold land (revalued) is amortized over the
unexpired period of lease from the date of lease.
D. INVESTMENTS
Investments are shown at cost.
E. INVENTORIES
Inventories are valued at lower cost and Net Realizable value.
The cost of raw materials, consumables and packing materials is
computed on first-in-first-out basis, Stock in process is valued at
cost comprising of raw materials and direct expenses.
Finished goods include cost of conversion and other costs incurred in
bringing the inventories to their present location and condition.
F. CLASSIFICATION OF ASSETS AND LIABILITIES AS CURRENT AND NON-CURRENT
All assets and liabilities are classified as current or non-current as
per Company''s normal operating cycle and other criteria set out in
Schedule VI to the company''s Act, 1956. Based in the nature of products
and time between the acquisition of assets for processing and their
realization in cash & cash equivalent, 12 months has been considered by
the Company for the purpose of current-noncurrent classification of
assets & liabilities.
G. RETIREMENT BENEFITS
Retirement benefits consisting of gratuity and leave encashment in
respect of employees are accounted on the basis of valuation done by
Kotak Mahindra Old Mutual Life Insurance Ltd. and an independent firm
of actuaries respectively to arrive at yearend figures.
H. SALES
Sales is exclusive of Excise Duty / Taxes and also does not include
recoveries such as transportation, insurance etc. which are set off
against the respective expense heads.
I. FOREIGN CURRENCY TRANSACTIONS
Foreign currency transactions, on initial recognition, are recorded by
applying to the foreign currency amount the exchange rate at the date
of the transaction. At each Balance Sheet date, foreign currency
monetary items are reported using the closing rate in foreign currency.
J. PROVISIONS / CONTINGENCIES
Contingent liabilities are not recognized but are disclosed in the
financial statements. Claims against the Company where the possibility
of materialization is remote are not considered as contingent
liabilities.
Contingent assets are neither recognized nor disclosed in the financial
statements.
Mar 31, 2010
ACCOUNTING CONCEPTS
The financial accounts are prepared under the historical cost
convention on the accrual basis of accounting and in accordance with
Accounting Standards.
FIXED ASSETS
Fixed assets are stated at cost (including other expenses related to
acquisition and installation) less accumulated depreciation /
amortization adjusted by revaluation of certain fixed assets.
INVESTMENTS
Investments are shown at cost.
DEPRECIATION
Depreciation on fixed assets including revalued assets i.e. Building
and Plant & Machineries is provided on straight line method at the
rates and in the manner prescribed in Schedule XIV of the Companies
Act, 1956. The cost of lease hold land (revalued) is amortized over the
unexpired period of lease from the date of lease.
INVENTORIES
Raw materials, consumables and packing materials are valued on
first-in-first-out basis, at actual cost, Stock in process is valued at
cost comprising of raw materials and direct expenses.
Finished goods include cost of conversion and other costs incurred in
bringing the inventories to their present location and condition and
are valued at lower of cost or net realisable value.
RETIREMENT BENEFITS
Retirement benefits consisting of gratuity and leave encashment in
respect of employees are accounted on the basis of valuation done by
Kotak Mahindra Old Mutual Life Insurance Ltd and an independent firm of
actuaries respectively.
SALES
Sales is exclusive of Excise Duty / Taxes and also does not include
recoveries such as transportation, insurance etc. which are set off
against the respective expense heads.
FOREIGN CURRENCY TRANSACTIONS
a) Foreign currency transactions are recorded at the exchange rate
prevailing on the date of transaction.
b) Current Assets and Current Liabilities in foreign currency
outstanding at the end of the year are expressed at the year end rate.
c) Investment in shares of subsidiary company is expressed at the rates
prevailing on the date of transaction. CONTINGENT LIABILITIES
Contingent Liabilities are not provided for and are disclosed by way of
Notes.