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Roopa Industries Ltd. நிறுவனத்தின் கணக்கியல் கொள்கைகள்
Mar 31, 2025
1. Notes forming part of Financial Statements
1.1 Corporate Information
Roopa Industries Limited (âthe Companyâ) was incorporated 1985 under the Companies Act, 1956 as a Private Limited Company with the name âRoopa Granites Private Limitedâ, the name of the company is changed to âRoopa Granites Limitedâ on 1992 and changed its name to M/s. Roopa Industries in 1994, as on date it is Public Limited Company, The Company has registered office at 17/745, Alur Road, Adoni, Kurnool, Andhra Pradesh, India. The Company is engaged in manufacturing of Bulk drugs/Drug Intermediates, and its shares are listed on the Bombay Stock Exchange of India Ltd., The principal accounting policies applied in the preparation of the financial statements are set out below.
The Financial Statements for the year ended 31st March, 2025 were approved by Board of Directors and authorized for issue on 30th May, 2025.
1.2 Basis of Preparation and Presentation of Financial Statements
The financial statements of the Company have been prepared and presented in accordance with the Indian Accounting Standards (âInd ASâ) notified under the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.
The Financial Statements have been prepared on historical cost convention on accrual basis of accounting except for certain financial instruments that are measured at fair value of Indian Accounting Standards as specified in Section 133 of the Act read together with Rule 4 of Companies (Indian Accounting Standard) Amendment Rules, 2016 to the extent applicable, pronouncements of regulatory bodies applicable to the Company and other provisions of the Act. Accounting Policies have been consistently applied except where a newly issued Accounting Standards is initially adopted or revision to existing Accounting Standards requires a change in the accounting policy hitherto in use. Management evaluates all recently issued or revised Accounting Standards on an on-going basis.
All assets and liabilities are classified into current and non-current based on the operating cycle of less than twelve months or based on the criteria of realization/settlement within twelve months period from the balance sheet date.
The preparation of the financial statements, in conformity with the recognition and measurement principles of Ind AS, requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of financial statements and the results of operation during the reported period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates which are recognized in the period in which they are determined.
a. Depreciation and amortization: Depreciation is based on Schedule II to the Companies Act, 2013, which describes useful lives of property, plant and equipment and intangible assets.
b. Provisions and contingencies: Provisions and contingencies are based on the Management''s best estimate of the liabilities based on the facts known at the balance sheet date.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. In addition, for financial reporting purposes, fair value measurements are categorized into Level 1,2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows: Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date; Level 2: Inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3: Inputs are unobservable inputs for the asset or liability. For assets and liabilities that are recognized in the Financial Statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. At each reporting date, the Company analyses the movements in the values of assets and liabilities which are required to be re-measured or reassessed in line with the Company''s Accounting Policies. For this analysis, the Company verifies the major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents. For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.
1.5 Critical Accounting Judgements and Key source of estimation uncertainty operating cycle:
In the application of the company''s accounting policies, the management of the company is required to make judgments, estimates, and assumptions about the carrying amounts of the assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognized in the period in which the estimates is revised if the revision effects only that period or in the period of the revision and future periods if the revision effects both current and future periods.
The following are the areas of estimation of uncertainty and critical judgements that the management has made in the process of applying the company''s accounting policies and that have the most significant effects on the amounts recognized in the financial statements.
i) Provisions, contingent liabilities, contingent assets and onerous contracts: Provisions:
Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event and it is probable that the outflow of resources embodying economic benefits will be required to settled the obligation in respect of which reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, the expense relating to provision presented in the statement of profit & loss is net of any reimbursement.
If the effect of the time value of money is material, provisions are disclosed using a current pre tax rate that reflects, when appropriate, the risk specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as finance cost.
Contingent liability is disclosed in the notes in case of:
There is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non- occurrence of one or more uncertain future events not wholly within the control of the Company.
A present obligation arising from past event, when it is not probable that as outflow of resources will be required to settle the obligation.
A present obligation arises from the past event, when no reliable estimate is possible.
A present obligation arises from the past event, unless the probability of outflow are remote.
Commitments include the amount of purchase order (net of advances) issued to parties for completion of assets.
Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.
A provision for onerous contracts is measured at the present value of the lower expected cost of terminating the contract and the expected cost of continuing with the contract. Before a provision is established, the Company recognizes the impairment on the assets with the contract.
Contingent assets:
Contingent assets are not recognized in the Standalone financial statements. ii) Useful lives of depreciable assets
Management reviews the useful lives of depreciable assets at each reporting period. As at March 31, 2025 management assessed that the useful lives represent the expected utility of the assets to the company. Further, there is no significant change in the useful lives as compared to previous year.
1.6 Functional and presentation currency
These financial statements are presented in Indian rupees, which is also the functional currency of the Company. All financial information presented in Indian rupees.
1.7 Functional and presentation currency:
These financial statements are presented in Indian rupees, which is also the functional currency of the Company. All financial information presented in Indian rupees.
Foreign currencies:
In preparing the financial statements of the Company transactions in currencies other than the entity''s functional currency (foreign curriencies) are recognised at the rates of exchange prevailing at the dates of transactions. At the end of each reporting period, monetary items denominated in foreign curriencies are retranslated at the rates prevailing at that date. Non-Monetray items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.
For the purpose of presenting these financial statements, the assets and liabilities of the
Company''s foreign operations are translated into currency units using exchange rates prevailing at the end of each reporting period.
2 Material Accounting Policies2.1 Property, Plant & Equipment Recognition and measurement
Property, Plant and Equipment are stated at cost of acquisition or construction less accumulated depreciation and impairment loss, if any. Cost includes expenditures that are directly attributable to the acquisition of the asset i.e., freight, duties and taxes applicable and other expenses related to acquisition and installation. The cost of self-constructed assets includes the cost of materials and other costs directly attributable to bringing the asset to a working condition for its intended use. Borrowing costs that are directly attributable to the construction or production of a qualifying asset are capitalized as part of the cost of that asset.
When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. An item of Property, Plant and Equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continuous use of the asset.
Gains and losses upon disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment and are recognized net within in the statement of profit and loss.
The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Company and its cost can be measured reliably. The costs of repairs and maintenance are recognized in the statement of profit and loss as incurred.
Items of property, plant and equipment acquired through exchange of non-monetary assets are measured at fair value, unless the exchange transaction lacks commercial substance or the fair value of either the asset received or asset given up is not reliably measurable, in which case the asset exchanged is recorded at the carrying amount of the asset given up.
Property, Plant and Equipment which are not ready for intended use as on the date of Balance Sheet are disclosed as âCapital Work-in-Progressâ.
Depreciation
Depreciation is recognized in the statement of profit and loss on Straight line basis over the estimated useful lives of property, plant and equipment based on Schedule - II to the Companies Act, 2013 (âScheduleâ), which prescribes the useful lives for various classes of tangible assets. Land is not depreciated.
|
Particulars |
Years |
|
Buildings |
|
|
Factory and administrative buildings |
30 |
|
Plant and equipment |
20 |
|
Furniture and fixtures |
10 |
|
Office equipment |
5 |
Impairment of tangible and intangible assets other than goodwill:
At the end of each reporting period, the Company reviews that carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest Company of cash-generating units for which a reasonable and consistent allocation basis can be identified.
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at least annually, and whenever there is an indication that the asset may be impaired.
Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cashflows are discounted to their present value using a pre tax discount rate that reflects current market assessments of the time value of the money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.
When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
2.2 Financial Instruments A. Financial Assets
i. Initial Recognition
In the case of financial assets, not recorded at fair value through profit or loss (FVPL), financial assets are recognized initially at fair value plus transaction costs that are directly attributable to the acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date, i.e., the date that the Company commits to purchase or sell the asset.
ii. Subsequent Measurement
For purposes of subsequent measurement, financial assets are classified in the following categories:
a. Financial Assets at Amortized Cost
Financial assets are subsequently measured at amortized cost if these financial assets are held within a business model with an objective to hold these assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Interest income from these financial assets is included in finance income using the effective interest
rate (âEIRâ) method. Impairment gains or losses arising on these assets are recognized in the Statement of Profit and Loss.
b. Financial Assets Measured at Fair Value
Financial assets are measured at fair value through OCI if these financial assets are held within a business model with an objective to hold these assets in order to collect contractual cash flows or to sell these financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognized in the Statement of Profit and Loss.
Investment in Equity Instruments are designated as Financial Assets measured at fair value through OCI and Investments in Mutual Funds are designated as Financial Assets measured at fair value through statement of Profit & Loss on date of transition.
c. Impairment of Financial Assets
In accordance with Ind AS 109, expected credit loss (ECL) model for measurement and recognition of impairment loss on the trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind AS 18. As Company trade receivables are realized within normal credit period adopted by the company, financial assets are not impaired.
d. De-recognition of Financial Assets
The Company de-recognizes a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all risks and rewards of ownership of the asset to another entity.
If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognizes its retained interest in the assets and an associated liability for amounts it may have to pay.
If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received.
B. Financial Liabilities
Financial liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.
i. Initial Recognition
Financial liabilities are classified, at initial recognition, as financial liabilities at FVPL, loans and borrowings and payables as appropriate. All financial liabilities are recognized initially at fair value and in the case of loans and borrowings and payables, net of directly attributable transaction costs.
ii. Subsequent Measurement
The measurement of financial liabilities depends on their classification, as described below:
a. Financial liabilities at FVTPL
Financial liabilities at FVTPL include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at FVPTL. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are recognized in the Statement of Profit and Loss.
iii. De-recognition of Financial Liabilities
Financial liabilities are de-recognised when the obligation specified in the contract is discharged, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as de-recognition of the original liability and recognition of a new liability. The difference in the respective carrying amounts is recognised in the Statement of Profit and Loss.
2.3 Impairment of non-financial assets
Intangible assets and property, plant and equipment are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generated Units (CGU) to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the statement of profit and loss is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the statement of profit and loss if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization or depreciation) had no impairment loss been recognized for the asset in prior years.
Cash and Bank balances comprise of cash balance in hand, in current accounts with banks and Bank Fixed Deposits with maturity of 3 months or less than 3 months. Balances with banks earmarked for a purpose (like dividends) are shown separately.
Short term employee benefits
Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.
Employee State Insurance is a defined contribution scheme of the Government of India under which both the employer and employee contribute on a monthly basis at a predetermined rate and the Company has no further obligation.
The Company has an obligation towards gratuity, a defined benefit plan covering eligible employees. The plan provides for lump sum payment on retirement, death while in employment or on separation.
Borrowing costs are charged to the Statement of Profit and Loss except in cases where
the borrowings are directly attributable to the acquisition. Construction or production of qualifying assets which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
Ind AS 20 gives an option to present the grants related to assets, including nonmonetary grants at fair value in the balance sheet either by setting up the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset. Accordingly Sales Tax Deferment amount payable to Department has been considered as Government Grant and considered the interest expenses and amortization benefit is considered in Profit and Loss Account and Balance Sheet.
2.8 Estimates and assumptions:
The preparation of the Company''s financial statements requires management to make judgements, estimates and assumptions that effect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities.
Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.
2.9 Revenue recognition Sale of goods
Revenue is measured at the fair value of the consideration received or receivable by the Company for goods supplied and services provided excluding applicable taxes. Revenue is recognised upon transfer of controls of promised goods and services under a control.
Revenue is recognized, when the significant risks and rewards of the ownership have been transferred to the buyers and there is no continuing effective control over the goods or managerial involvement with the goods. Sales include Job work charges received on contract manufacturing operations. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes and duties.
Revenue from rendering of services is recognised by measuring the progress towards complete satisfaction of performance obligations at the reporting period and there are no unfulfilled obligations.
Other income includes Dividend, Interest, Profit / (Loss) on sale of Investments, Commission, Professional and Technical Services and other miscellaneous receipts if any. Dividend income from investments is recognized when the Company''s right to receive payment has been established (provided that it is probable that the economic benefits will flow to the Company and the amount of income can be measured reliably). Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the Company and the amount of income can be measured reliably. Interest income is accrued on time proportionate basis, by reference to the principle outstanding and at the effective interest rate applicable. Commission income is recognised when the economic benefits associated with the transaction will flow to the entity or the amount of revenue can be measured reliably.
When the transaction involving the rendering of services is estimated reliably, revenue associated with the transaction shall be recognised by reference to the stage of completion of the transaction at the end of the reporting period.
The outcome of the transactions can be estimated reliably when all the following conditions are satisfied:
(a) The amount of revenue can be measured reliably;
(b) It is probable that the economic benefits associated with the transaction will flow to the entity;
(c) The stage of completion of the transaction at the end of the reporting period can be
measured reliably; and
(d) The costs incurred for the transaction and the costs to complete the transaction can be measured reliably
Current income tax is recognised based on the estimated tax liability computed after taking credit for allowances and exemptions in accordance with the Income Tax Act, 1961. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
Deferred tax is determined by applying the Balance Sheet approach. Deferred tax assets and liabilities are recognised for all deductible temporary differences between the financial statements'' carrying amount of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using the enacted tax rates or tax rates that are substantively enacted at the Balance Sheet date. The effect on deferred tax assets and liabilities of a change in tax rates is recognised in the period that includes the enactment date. Deferred tax assets are only recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised. Such assets are reviewed at each Balance Sheet date to reassess realisation.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Minimum Alternative Tax (âMATâ) credit is recognized as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax during the specified period. Such asset is reviewed at each Balance Sheet date and the carrying amount of the MAT credit asset is written down to the extent there is no longer a convincing evidence to the effect that the Company will pay normal income tax during the specified period.
The Company presents basic and diluted earnings per share (âEPSâ) data for its ordinary shares. Basic earnings per share are computed by dividing the net profit after tax by the weighted average number of equity shares outstanding during the period. Diluted earnings per share is computed by dividing the profit after tax by the weighted average number of equity shares considered for deriving basic earnings per share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.
The Ministry of Corporate Affairs (MCA) notifies new standard or amendments to the
existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended 31 March 2025 MCA has not notified any new standards or amendments to the existing standards applicable to the Company.
Inventories are valued at lower of cost, determined on âWeighted averageâ basis and net realisable value. Costs incurred in bringing each product to its present location and condition are accounted for as follows:
Raw materials, packing materials, stores, spares and consumables: cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition.
Finished goods and work-in-progress: cost includes direct materials, labour and a proportion of manufacturing overheads based on the normal operating capacity, but excludes borrowing costs.
Stock-in-trade: cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition.
Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. The net realisable value of work-in-progress is determined with reference to the selling prices of related finished products.
Raw materials, components and other supplies held for use in the production of finished products are not written down below cost except in cases where material prices have declined and it is estimated that the cost of the finished products will exceed their net realisable value.
The comparison of cost and net realisable value is made on an item-by-item basis.
A receivable is recognised if an amount of consideration that is unconditional (i.e. only the passage of time is required before payment of the consideration is due). The Management has established a credit policy under which each new customer is analysed individually for credit worthiness before the Company''s standard payment terms ranging from the date of invoice to 180 days are offered. Terms of payment for sale of services are ranging from on presentation of bill to 180 days.
In respect of trade receivables, the Company applies the simplified approach of Ind AS 109 âFinancial Instruments'', which requires measurement of loss allowance at an amount equal to lifetime expected credit losses. Lifetime expected credit losses are the expected credit losses that result from all possible default events over the expected life of a financial instrument.
These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year which are unpaid. The amounts are unsecured and are presented as current liabilities unless payment is not due within twelve months after the reporting period. They are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method.
2.16 Fair value of investments
The Company has invested in the equity instruments of various companies. However, the percentage of shareholding of the Company in such investee companies is very low and hence, it has not been provided with future projections including projected profit and loss account by those investee companies. Hence, the valuation exercise carried out by the Company with the help of available historical annual reports and other information in the public domain.
2.17 Segment accounting and reporting
The chief operational decision maker monitors the operating results of its business segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit and loss and is measured consistently with profit and loss in the standalone financial statements.
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (CODM).
The accounting policies adopted for segment reporting are in line with the accounting policies adopted for preparing and presenting the Standalone Financial Statements of the Company as a whole. In addition, the following specific accounting policies have been followed for segment reporting:
Segment revenue includes sales and other income directly identifiable with / allocable to the segment including inter segment transfers. Inter segment transfers are accounted for based on the transaction price agreed to between the segments which is at cost in case of transfer of Companyâs intermediate and final products and estimated realisable value in case of by-products.
Revenue, expenses, assets and liabilities are identified to segments on the basis of their relationship to the operating activities of the segment. Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments on direct and/or on a reasonable basis, have been disclosed as âUnallocableâ.
2.18 Assets (or disposal group) held for sale and discontinued operation
Assets (or disposal group) are classified as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. Assets held for sale are measured at the lower of their carrying amount and the fair value less costs to sell.
An impairment loss is recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognized for any subsequent increases in fair value less costs to sell of an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognized. A gain or loss not previously recognized by the date of the sale of the non-current asset (or disposal group) is recognized at the date of de-recognition.
Assets (including those that are part of a disposal group) are not depreciated or amortised while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognised.
Assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.
⢠Represent as separate major line of business or geographical area of operations,
⢠Is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations.
Discontinued operations are excluded from the results of continuing operations and are presented as profit or loss before/ after tax from discontinued operations in the statement of profit and loss.
Mar 31, 2024
2 Material Accounting Policies
2.1 Property, Plant & Equipment Recognition and measurement
Property, Plant and Equipment are stated at cost of acquisition or construction less accumulated depreciation and impairment loss, if any. Cost includes expenditures that are directly attributable to the acquisition of the asset i.e., freight, duties and taxes applicable and other expenses related to acquisition and installation. The cost of self-constructed assets includes the cost of materials and other costs directly attributable to bringing the asset to a working condition for its intended use. Borrowing costs that are directly attributable to the construction or production of a qualifying asset are capitalized as part of the cost of that asset.
When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. An item of Property, Plant and Equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continuous use of the asset.
Gains and losses upon disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment and are recognized net within in the statement of profit and loss.
The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Company and its cost can be measured reliably. The costs of repairs and maintenance are recognized in the statement of profit and loss as incurred.
Items of property, plant and equipment acquired through exchange of non-monetary assets are measured at fair value, unless the exchange transaction lacks commercial substance or the fair value of either the asset received or asset given up is not reliably measurable, in which case the asset exchanged is recorded at the carrying amount of the asset given up.
Property, Plant and Equipment which are not ready for intended use as on the date of Balance Sheet are disclosed as âCapital Work-in-Progressâ.
Depreciation
Depreciation is recognized in the statement of profit and loss on Straight line basis over
the estimated useful lives of property, plant and equipment based on Schedule - II to the Companies Act, 2013 (âScheduleâ), which prescribes the useful lives for various classes of tangible assets. Land is not depreciated.
2.2 Financial Instruments A. Financial Assets
i. Initial Recognition
In the case of financial assets, not recorded at fair value through profit or loss (FVPL), financial assets are recognized initially at fair value plus transaction costs that are directly attributable to the acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date, i.e., the date that the Company commits to purchase or sell the asset.
ii. Subsequent Measurement
For purposes of subsequent measurement, financial assets are classified in the following categories:
a. Financial Assets at Amortized Cost
Financial assets are subsequently measured at amortized cost if these financial assets are held within a business model with an objective to hold these assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Interest income from these financial assets is included in finance income using the effective interest rate (âEIRâ) method. Impairment gains or losses arising on these assets are recognized in the Statement of Profit and Loss.
b. Financial Assets Measured at Fair Value
Financial assets are measured at fair value through OCI if these financial assets are held within a business model with an objective to hold these assets in order to collect contractual cash flows or to sell these financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognized in the Statement of Profit and Loss.
Investment in Equity Instruments are designated as Financial Assets measured at fair value through OCI and Investments in Mutual Funds are designated as Financial Assets measured at fair value through statement of Profit & Loss on date of transition.
c. Impairment
In accordance with Ind AS 109, expected credit loss (ECL) model for measurement and recognition of impairment loss on the trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind AS 18. As Company trade receivables are realized within normal credit period adopted by the company, financial assets are not impaired.
d. De-recognition
The Company de-recognizes a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all risks and rewards of ownership of the asset to another entity.
If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognizes its retained interest in the assets and an associated liability for amounts it may have to pay.
If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received.
B. Financial Liabilities
Financial liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.
i. Initial Recognition
Financial liabilities are classified, at initial recognition, as financial liabilities at FVPL, loans and borrowings and payables as appropriate. All financial liabilities are recognizedinitially at fair value and in the case of loans and borrowings and payables, net of directly attributable transaction costs.
ii. Subsequent Measurement
The measurement of financial liabilities depends on their classification, as described below:
a. Financial liabilities at FVTPL
Financial liabilities at FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as at FVPTL. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading are recognized in the Statement of Profit and Loss.
iii. De-recognition of Financial Liabilities
Financial liabilities are de-recognised when the obligation specified in the contract is discharged, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as de-recognition of the original liability and recognition of a new liability. The difference in the respective carrying amounts is recognised in the Statement of Profit and Loss.
2.3 Impairment
Intangible assets and property, plant and equipment are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generated Units (CGU) to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the statement of profit and loss is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the statement of profit and loss if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization or depreciation) had no impairment loss been recognized for the asset in prior years.
2.4 Cash and Cash Equivalents
Cash and Bank balances comprise of cash balance in hand, in current accounts with banks and Bank Fixed Deposits with maturity of 3 months or less than 3 months.
2.5 Employee Benefits
Short term employee benefits
Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.
Defined Contribution Plan
Employee State Insurance is a defined contribution scheme of the Government of India under which both the employer and employee contribute on a monthly basis at a predetermined rate and the Company has no further obligation.
Defined Benefit Obligations
The Company has an obligation towards gratuity, a defined benefit plan covering eligible employees. The plan provides for lump sum payment on retirement, death while in employment or on separation.
2.6 Borrowing Cost:
Borrowing costs are charged to the Statement of Profit and Loss except in cases where the borrowings are directly attributable to the acquisition, construction or production of qualifying asset till it is put to use.
2.7 Government Grants:
Ind AS 20 gives an option to present the grants related to assets, including nonmonetary grants at fair value in the balance sheet either by setting up the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset. Accordingly Sales Tax Deferment amount payable to Department has been considered as Government Grant and considered the interest expenses and amortization benefit is considered in Profit and Loss Account and Balance Sheet.
Mar 31, 2015
1. Basis of Preparation:
The financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP) to comply with the Accounting Standards specified under
Section 133 of the Companies Act, 2013, read with Rule 7 of the
Companies (Accounts) Rules, 2014 and the relevant provisions of the
Companies Act, 2013 (" the 2013 Act") / Companies Act, 1956 (" the 1956
Act"), as applicable. The accounting policies adopted in the
preparation of the financial statements are consistent with those
followed in the previous year except for change in the accounting
policy for depreciation.
All assets and liabilites have been classified as current or
non-current as per the Company's normal operating cycle and other
criteria set out in the Schedule III to the Companies Act, 2013. The
Company's activites in its business segments have operating cycle which
do not exceed 12 months. As a result, current assets comprise elements
that are expected to be realised within 12 months after the reporting
date and current liabilites comprise elements that are due for
settlement within 12 months after the reporting date.
2. Use of Estimates:
The preparation of financial statements is in conformity with the
Indian GAAP requires management to make estimates and assumptions that
affect the reported amounts of such assets and liabilities and
disclosure of contingent liabilities at the date of financial
statements and the results of operations during the end of the
reporting period. Although these estimates are based upon management's
best knowledge of current events and actions, actual results could
differ from the estimates.
a. Fixed Assets:
Fixed Assets are stated at their original cost comprising of the
purchase price and any attributable cost of bringing the asset to
working condition for its intended use.
b. Depreciation :
With effect from 01-04-2014 there has been a change in Policy for
determination of depreciation amount as per provisions prescribed in
Schedule II to the Companies Act, 2013 read with Section 123 of the
"Act"
Depreciation is calculated based on useful life of asset
retrospectively from the date of acquisition of the relevant Fixed
Assets. The depreciation for assets having residual life and carrying
Book value as on 01-04-2014 are being amortized over remaining residual
life. The depreciation for assets whose useful life expired but has
carrying book value are amortized as on 01-04-2014 by charging to the
Statement of Profit and Loss as an exceptional item. From 01-04-2014
the existing assets with carrying Book value and additions made
thereafter shall be provided in accordance with useful life as
prescribed in Schedule II of Companies Act, 2013.
c. Inventories:
i. Raw Materials, Stores and Spares are valued at lower of cost and net
realizable value and costs are determined on Weighted Average Cost.
ii. Work in progress and finished goods are valued at cost of purchase
of raw materials, cost of conversion and other cost incurred in
bringing the inventories to their present location and condition or net
realisable value whichever is lower.
d. Revenue Recognition:
Revenue from sale of goods is recognized when the significant risks and
rewards of ownership of the goods have been passed to the customer,
which generally coincides with their delivery to customers.
Interest is recognized on a time proportionate basis taking into
account the amount outstanding at the rate applicable.
Dividend is recognized as and when the Company's right to receive
payment is established by the reporting date.
e. Sales:
Sales are stated including excise duty deducting sales return. The cost
of free samples including duties and taxes to customers for sales
promotion are recognized as a sales expenses credited to the sales
account.
f. Cenvat:
Cenvat benefit is accounted by reducing from the purchase cost of raw
materials and adjusted against excise duty levied by the Excise
Department.
g. Excise duty:
Liability of Excise Duty on Finished goods lying in factory is included
in the cost of Finished goods by making provision for the Excise duty
payable.
h. Investments:
All the Investments in the Company are long term. Long term investments
are carried at cost. However provision for diminution in the value is
made to recognise a decline other than temporary in the value of
investments.
i. Foreign Currency Transactions :
i. Initial Recognition: Transactions denominated in foreign currencies
are recorded at the exchange rates prevailing on the date of the
transaction.
ii. Conversion: At the year end, monetary items denominated in foreign
currencies other than those covered by forward contracts are converted
into rupee equivalents at the year-end exchange rates.
iii. Forward Exchange Contracts: In respect of transactions covered by
forward exchange contracts, the difference between the forward rate and
the exchange rate at the date of the transaction is recognized as
income or expense over the period of the contract.
iv. Exchange Differences: All exchange differences arising on
settlement / conversion of foreign currency transactions are recognized
in the Statement of Profit and Loss.
j. Employee Benefits
i. Short Term Employee Benefits:
All employees benefits due wholly within a year of rendering services
are classified as short term benefits. These benefits like Salaries,
Wages, Short term compensation absences, expected cost of bonus,
exgratia are recognized as expenses on accrual basis at undiscounted
amount in the Statement of Profit and Loss. ii. Retirement Benefits:
a. Defined Contribution Plan:
Employer's contribution to Provident Fund are recognized as expenditure
in the Statement of Profit and Loss, as they are incurred. There are no
other obligations other than the contribution payable.
b. Defined Benefit Plan:
The Company provide Gratuity as defined benefit retirement plan and
there are no other Post- Retirement benefits. The defined benefit
Gratuity obligation on annual basis is determined by the actuarial
valuation at the end of the year using project unit credit method and
the liability is provided for. Necessary disclosures as required under
AS-15 are submitted in Notes forming part of financial statements.
k. Impairment of Assets:
The Company has taken into consideration the provisions of Accounting
Standard-28-Impairment of Assets. The Company assesses at each balance
sheet date whether there is any indication that an asset may be
impaired. If any such indication is there, the Company estimates the
recoverable amount of the cash-generating unit to which the asset
belongs, if recoverable amount is less than its carrying amount, the
carrying amount is reduced to its recoverable amount.
l. Borrowing costs:
Borrowing costs are charged to the Statement of Profit and Loss except
in cases where the borrowings are directly attributable to the
acquisition, construction or production of qualifying asset.
m. Accounting for taxes on Income:
Tax expense comprise of Current and Deferred Tax. Current Income tax is
measured at the amount expected to be paid to the tax authorities in
accordance with the Income tax Act, 1961. Deferred tax is accounted for
in accordance with Accounting Standard 22 -Accounting for taxes on
Income. Accordingly, timing difference resulting in deferred tax
liabilities are recognized.
n. Cash and Cash Equivalents
Cash and cash equivalents for the purposes of cash flow statement
comprise cash at bank and in hand and short term investments with an
original maturity of three months or less.
o. Provisions and Contingent liabilities:
The Company recognises a provision when there is a present obligation
as a result of a past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of
obligation. A disclosure for a contingent liability is made when there
is a possible obligation or a present obligation that may, but probably
will not, require an outflow of resources or there is present
obligation, reliable estimate of the amount of which cannot be made.
Where there is a possible obligations or a present obligation and the
likelihood of outflow of resources is remote, no provision or
disclosure for contingent liability is made.
p. Earnings per share:
Basic Earnings per share is calculated by dividing the Net Profit or
Loss for the year attributable to Equity Share Holders by the Weighted
Average Number of Equity Shares outstanding during the year.
For the purpose of calculating Diluted Earnings per share Net profit or
loss for the year attributable to Equity Share Holders and the Weighted
Average Number of Equity Shares outstanding during the year are
adjusted for the effects of all dilutive potential equity share.
q. Events occurring after Balance sheet date:
Material events occurring after the Balance sheet date are taken into
recognizance
Mar 31, 2014
A. Fixed Assets:
Fixed Assets are stated at their original cost comprising of the
purchase price and any attributable cost of bringing the asset to
working condition for its intended use.
b. Depreciation :
Depreciation has been provided on straight- line method at the rates
prescribed in Schedule XIV of the Companies Act, 1956.
The Assets whose values were fully depreciated have been removed from
the Gross Block and Depreciation Reserve.
c. Inventories:
i. Raw Materials, Stores and Spares are valued at lower of cost and
net realizable value and costs are determined on Weighted Average
Cost.
ii. Work in progress and finished goods are valued at cost of purchase
of raw materials, cost of conversion and other cost incurred in
bringing the inventories to their present location and condition or
net realisable value whichever is lower.
d. Revenue Recognition:
Revenue from sale of goods is recognized when the significant risks
and rewards of ownership of the goods have been passed to the
customer, which generally coincides with their delivery to customers.
Interest is recognized on a time proportionate basis taking into
account the amount outstanding at the rate applicable.
Dividend is recognized as and when the Company''s right to receive
payment is established by the reporting date.
e. Sales:
Sales are stated including excise duty deducting sales return. The
cost of free samples including duties and taxes to customers for sales
promotion are recognized as a sales expenses credited to the sales
account.
f. Cenvat:
Cenvat benefit is accounted by reducing from the purchase cost of raw
materials and adjusted against excise duty levied by the Excise
Department.
g. Excise duty:
Liability of Excise Duty on Finished goods lying in factory is
included in the cost of Finished goods by making provision for the
Excise duty payable.
h. Investments:
All the Investments in the Company are long term. Long term
investments are carried at cost. However provision for diminution in
the value is made to recognise a decline other than temporary in the
value of investments.
i. Preliminary Expenses:
Preliminary Expenses (Miscellaneous Expenditure) including Public
issue Expenses and Research and Development Expenses incurred by the
Company are being amortised over a period of 10 years.
j. Foreign Currency Transactions:
i. Initial Recognition:
Transactions denominated in foreign currencies are recorded at the
exchange rates prevailing on the date of the transaction.
ii. Conversion:
At the year end, monetary items denominated in foreign currencies
other than those covered by forward contracts are converted into rupee
equivalents at the year-end exchange rates.
iii. Forward Exchange Contracts:
In respect of transactions covered by forward exchange contracts, the
difference between the forward rate and the exchange rate at the date
of the transaction is recognized as income or expense over the period
of the contract. iv. Exchange Differences: All exchange differences
arising on settlement / conversion of foreign currency transactions
are recognized in the Statement of Profit and Loss.
k. Employee Benefits
i. Short Term Employee Benefits:
All employees benefits due wholly within a year of rendering services
are classified as short term benefits. These benefits like Salaries,
Wages, Short term compensation absences, expected cost of bonus,
exgratia are recognized as expenses on accrual basis at undiscounted
amount in the Statement of Profit and Loss.
ii. Retirement Benefits:
a. Defined Contribution Plan:
Employer''s contribution to Provident Fund are recognized as
expenditure in the Statement of Profit and Loss, as they are incurred.
There are no other obligations other than the contribution payable.
b. Defined Benefit Plan:
The Company provide Gratuity as defined benefit retirement plan and
there are no other Post- Retirement benefits. The defined benefit
Gratuity obligation on annual basis is determined by the actuarial
valuation at the end of the year using project unit credit method and
the liability is provided for. Necessary disclosures as required
under AS-15 are submitted in Notes forming part of financial
statements.
l. Impairment of Assets:
The Company has taken into consideration the provisions of Accounting
Standard-28-Impairment of Assets. The Company assesses at each balance
sheet date whether there is any indication that an asset may be
impaired. If any such indication is there, the Company estimates the
recoverable amount of the cash-generating unit to which the asset
belongs, if recoverable amount is less than its carrying amount, the
carrying amount is reduced to its recoverable amount.
m. Borrowing costs:
Borrowing costs are charged to the Statement of Profit and Loss except
in cases where the borrowings are directly attributable to the
acquisition, construction or production of qualifying asset.
n. Accounting for taxes on Income:
Tax expense comprise of Current and Deferred Tax. Current Income tax
is measured at the amount expected to be paid to the tax authorities
in accordance with the Income tax Act, 1961. Deferred tax is accounted
for in accordance with Accounting Standard 22 -Accounting for taxes on
Income. Accordingly, timing difference resulting in deferred tax
liabilities are recognized.
o. Provisions and Contingent liabilities:
The Company recognises a provision when there is a present obligation
as a result of a post event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of
obligation. A disclosure for a contingent liability is made when there
is a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources or there is present
obligation, reliable estimate of the amount of which cannot be made.
Where there is a possible obligations or a present obligation and the
likelihood of outflow of resources is remote, no provision or
disclosure for contingent liability is made.
p. Earnings per share:
Basic Earnings per share is calculated by dividing the Net Profit or
Loss for the year attributable to Equity Share Holders by the Weighted
Average Number of Equity Shares outstanding during the year. For the
purpose of calculating Diluted Earnings per share Net profit or loss
for the year attributable to Equity Share Holders and the Weighted
Average Number of Equity Shares outstanding during the year are
adjusted for the effects of all dilutive potential equity share.
q. Events occurring after Balance sheet date:
Material events occuring after the Balance sheet date are taken into
recognizance.
Mar 31, 2013
A. Fixed Assets:
Fixed Assets are stated at their original cost comprising of the
purchase price and any attributable cost of bringing the asset to
working condition for its intended use.
b. Depreciation :
Depreciation has been provided on straight- line method at the rates
prescribed in Schedule XIV of the Companies Act, 1956.
The Assets whose values were fully depreciated have been removed from
the Gross Block and Depreciation Reserve.
c. Inventories:
i. Raw Materials, Stores and Spares are valued at lower of cost and
net realizable value and costs are deter- mined on Weighted Average
Cost.
ii. Work in progress and finished goods are valued at cost of purchase
of raw materials, cost of conversion and other cost incurred in
bringing the inventories to their present location and condition or net
realisable value whichever is lower.
d. Revenue Recognition:
Revenue from sale of goods is recognized when the significant risks and
rewards of ownership of the goods have been passed to the customer,
which generally coincides with their delivery to customers.
Interest is recognized on a time proportionate basis taking into
account the amount outstanding at the rate applicable. Dividend is
recognized as and when the Company''s right to receive payment is
established by the reporting date.
e. Sales:
Sales are stated including excise duty deducting sales return. The cost
of free samples including duties and taxes to customers for sales
promotion are recognized as a sales expenses credited to the sales
account.
f. Cenvat:
Cenvat benefit is accounted by reducing from the purchase cost of raw
materials and adjusted against excise duty levied by the Excise
Department.
g. Excise duty:
Liability of Excise Duty on Finished goods lying in factory is included
in the cost of Finished goods by making provision for the Excise duty
payable.
h. Investments:
All the Investments in the Company are long term. Long term investments
are carried at cost. However provision for diminution in the value is
made to recognise a decline other than temporary in the value of
investments.
i. Preliminary Expenses:
Preliminary Expenses (Miscellaneous Expenditure) including Public issue
Expenses and Research and Develop- ment Expenses incurred by the
Company are being amortised over a period of 10 years.
j. Foreign Currency Transactions:
i. Initial Recognition: Transactions denominated in foreign currencies
are recorded at the exchange rates prevail- ing on the date of the
transaction.
ii. Conversion: At the year end, monetary items denominated in foreign
currencies other than those covered by forward contracts are converted
into rupee equivalents at the year-end exchange rates.
iii. Forward Exchange Contracts: In respect of transactions covered by
forward exchange contracts, the difference between the forward rate and
the exchange rate at the date of the transaction is recognized as
income or expense over the period of the contract.
iv. Exchange Differences: All exchange differences arising on
settlement / conversion of foreign currency transac- tions are
recognized in the Statement of Profit and Loss.
k. Employee Benefits
i. Short Term Employee Benefits:
All employees benefits due wholly within a year of rendering services
are classified as short term benefits. These benefits like Salaries,
Wages, Short term compensation absences, expected cost of bonus,
exgratia are recognized as expenses on accrual basis at undiscounted
amount in the Statement of Profit and Loss.
ii. Retirement Benefits:
a. Defined Contribution Plan:
Employer''s contribution to Provident Fund are recognized as
expenditure in the Statement of Profit and Loss, as they are incurred.
There are no other obligations other than the contribution payable.
b. Defined Benefit Plan:
The Company provide Gratuity as defined benefit retirement plan and
there are no other Post- Retire- ment benefits. The defined benefit
Gratuity obligation on annual basis is determined by the actuarial
valuation at the end of the year using project unit credit method and
the liability is provided for. Neces- sary disclosures as required
under AS-15 are submitted in Notes forming part of financial
statements.
l. Impairment of Assets:
The Company has taken into consideration the provisions of Accounting
Standard-28-Impairment of Assets. The Company assesses at each balance
sheet date whether there is any indication that an asset may be
impaired. If any such indication is there, the Company estimates the
recoverable amount of the cash-generating unit to which the asset
belongs, if recoverable amount is less than its carrying amount, the
carrying amount is reduced to its recover- able amount.
m. Borrowing costs:
Borrowing costs are charged to the Statement of Profit and Loss except
in cases where the borrowings are directly attributable to the
acquisition, construction or production of qualifying asset.
n. Accounting for taxes on Income:
Tax expense comprise of Current and Deferred Tax. Current Income tax is
measured at the amount expected to be paid to the tax authorities in
accordance with the Income tax Act, 1961. Deferred tax is accounted for
in accordance with Accounting Standard 22 -Accounting for taxes on
Income. Accordingly, timing difference resulting in deferred tax
liabilities are recognized.
o. Provisions and Contingent liabilities:
The Company recognises a provision when there is a present obligation
as a result of a post event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of
obligation. A disclosure for a contingent liability is made when there
is a possible obligation or a present obligation that may, but probably
will not, require an outflow of resources or there is present
obligation, reliable estimate of the amount of which cannot be made.
Where there is a possible obligations or a present obligation and the
likelihood of outflow of resources is remote, no provision or
disclosure for contingent liability is made.
p. Earnings per share:
Basic Earnings per share is calculated by dividing the Net Profit or
Loss for the year attributable to Equity Share Holders by the Weighted
Average Number of Equity Shares outstanding during the year.
For the purpose of calculating Diluted Earnings per share Net profit or
loss for the year attributable to Equity Share Holders and the Weighted
Average Number of Equity Shares outstanding during the year are
adjusted for the effects of all dilutive potential equity share.
q. Events occurring after Balance sheet date:
Material events occuring after the Balancesheet date are taken into
recognizance.
Mar 31, 2012
1. Basis of Preparation:
The Company follows mercantile system of accounting and recognises
Income and Expenditure on accrual basis. The Accounts are prepared on
historical cost basis as a going concern and are consistent with
generally accepted accounting principles and applicable accounting
standards unless otherwise stated.
2. Change in Accounting policy:
During the year ended March 31, 2012 the revised Schedule VI notified
under the Companies Act, 1956 has become applicable to the Company, for
preparation and presentation of its financial statements. The adoption
of revised Schedule VI does not impact recognition and measurement
principles followed for preparation of financial statements. However it
has significant impact on presentation and disclosure made in the
financial statements.
3. Use of Estimates:
The preparation of financial statements is in conformity with the
generally accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of such
assets and liabilities and disclosure of contingent liabilities at the
date of financial statements and the results of operations during the
end of the reporting period. Although these estimates are based upon
management's best knowledge of current events and actions, actual
results could differ from the estimates.
4. Significant Accounting Policies
a. Fixed Assets:
Fixed Assets are stated at their original cost comprising of the
purchase price and any attributable cost of bringing the asset to
working condition for its intended use.
b. Depreciation :
Depreciation has been provided on straight- line method at the rates
prescribed in Schedule XIV of the Companies Act, 1956.
The Assets whose values were fully depreciated have been removed from
the Gross Block and Depreciation Reserve.
c. Inventories:
i. Raw Materials, Stores and Spares are valued at lower of cost and
net realizable value and costs are determined on Weighted Average Cost.
ii. Work in progress and finished goods are valued at cost of purchase
of raw materials, cost of conversion and other cost incurred in
bringing the inventories to their present location and condition or net
realisable value whichever is lower.
d. Revenue Recognition:
Revenue from sale of goods is recognized when the significant risks and
rewards of ownership of the goods have been passed to the customer,
which generally coincides with their delivery to customers.
Interest is recognized on a time proportionate basis taking into
account the amount outstanding at the rate applicable.
Dividend is recognized as and when the Company's right to receive
payment is established by the reporting date.
e. Sales:
Sales are stated including excise duty deducting sales return. The cost
of free samples including duties and taxes to customers for sales
promotion are recognized as a sales expenses credited to the sales
account.
f. Cenvat:
Cenvat benefit is accounted by reducing from the purchase cost of raw
materials and adjusted against excise duty levied by the Excise
Department.
g. Excise duty:
Liability of Excise Duty on Finished goods lying in factory is included
in the cost of Finished goods by making provision for the Excise duty
payable.
h. Investments:
All the Investments in the Company are long term. Long term investments
are carried at cost. However provision for diminution in the value is
made to recognise a decline other than temporary in the value of
investments.
i. Preliminary Expenses:
Preliminary Expenses (Miscellaneous Expenditure) including Public issue
Expenses and Research and Development Expenses incurred by the Company
are being amortised over a period of 10 years.
j. Foreign Currency Transactions:
i. Initial Recognition: Transactions denominated in foreign currencies
are recorded at the exchange rates prevailing on the date of the
transaction.
ii. Conversion: At the year end, monetary items denominated in foreign
currencies other than those covered by forward contracts are converted
into rupee equivalents at the year-end exchange rates.
iii. Forward Exchange Contracts: In respect of transactions covered by
forward exchange contracts, the difference between the forward rate and
the exchange rate at the date of the transaction is recognized as
income or expense over the period of the contract.
iv. Exchange Differences: All exchange differences arising on
settlement / conversion of foreign currency transactions are recognized
in the Statement of Profit and Loss.
k. Employee Benefits
i. Short Term Employee Benefits:
All employees benefits due wholly within a year of rendering services
are classified as short term benefits. These benefits like Salaries,
Wages, Short term compensation absences, expected cost of bonus,
exgratia are recognized as expenses on accrual basis at undiscounted
amount in the Statement of Profit and Loss.
ii. Retirement Benefits:
a. Defined Contribution Plan:
Employer's contribution to Provident Fund are recognized as
expenditure in the Statement of Profit and Loss, as they are incurred.
There are no other obligations other than the contribution payable.
b. Defined Benefit Plan:
The Company provide Gratuity as defined benefit retirement plan and
there are no other Post- Retirement benefits. The defined benefit
Gratuity obligation on annual basis is determined by the actuarial
valuation at the end of the year using project unit credit method and
the liability is provided for. Necessary disclosures as required under
AS-15 are submitted in Notes forming part of financial statements.
I. Impairment of Assets:
The Company has taken into consideration the provisions of Accounting
Standard-28- Impairment of Assets. The Company assesses at each balance
sheet date whether there is any indication that an asset may be
impaired. If any such indication is there, the Company estimates the
recoverable amount of the cash-generating unit to which the asset
belongs if recoverable amount is less than its carrying amount the
carrying amount is reduced to its recoverable amount. "
m. Borrowing costs:
Borrowing costs are charged to the Statement of Profit and Loss except
in cases where the borrowings are directly attributable to the
acquisition, construction or production of qualifying asset.
n. Accounting for taxes on Income:
Tax expense comprise of Current and Deferred Tax. Current Income tax is
measured at the amount expected to be paid to the tax authorities in
accordance with the Income tax Act, 1961. Deferred tax is accounted for
in accordance with Accounting Standard 22 -Accounting for taxes on
Income. Accordingly, timing difference resulting in deferred tax
liabilities are recognized.
o. Provisions and Contingent liabilities:
The Company recognises a provision when there is a present obligation
as a result of a post event that probably requires an outflow of
resources and a reliable estimate can be made when of the amount of the
obligation. A disclosure for a contingent liability is made there is a
possible obligation or a present obligation that may, but probably will
not, require an outflow of resources or there is present obligation,
reliable estimate of the amount of which cannot be made. Where there is
a possible obligations or a present obligation and the likelihood of
outflow of resources is remote, no provision or disclosure for
contingent liability is made.
p. Earnings per share:
Basic Earnings per share is calculated by dividing the Net Profit or
Loss for the year attributable to Equity Share Holders by the Weighted
Average Number of Equity Shares outstanding during the year.
For the purpose of calculating Diluted Earnings per share net profit or
loss for the year attributable to Equity Share Holders and the Weighted
Average Number of Equity Shares outstanding during the year are
adjusted for the effects of all dilutive potential equity share.
q. Events occurring after Balance sheet date:
Material events occuring after the Balancesheet date are taken into
recognizance.
Mar 31, 2010
A. Accounting Concepts :
The Company follows mercantile system of accounting and recognizes
Income and Expenditure on accrual basis. The Accounts are prepared on
historical cost basis as a going concern and are consistent with
generally accepted accounting principles and applicable accounting
standards unless otherwise stated.
b. Use of Estimates:
The Preparation of financial statements is in conformity with generally
accepted accounting principal requires management to make estimates and
assumptions that affect the reported amounts of such assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the end of
the reporting period. Although these estimates are based upon
managements best knowledge of current events and actions, actual
results could differ from the estimates.
c. Fixed Assets :
Fixed Assets are stated at their original cost comprising of the
purchase price and any attributable cost of bringing the asset to
working condition for its intended use.
d. Depreciation :
Depreciation has been provided on Straight-line method at the rates
prescribed in the Schedule XIV of the Companies Act, 1956.
The assets whose values were fully depreciated have been removed from
the Gross Block and Depreciation Reserve.
e. Inventories :
i) Raw Materials, Stores & Spares are valued at lower of cost and net
realizable value and costs are determined on weighted average cost.
ii) Finished goods and Work in Progress are valued at cost of purchase
of raw materials, cost of conversion and other cost incurred in
bringing the inventories to their present location and condition or net
realisable value whichever is lower.
f. Revenue Recognition:
Revenue from sales of goods is recognized when the significant risks
and rewards of ownership of the goods have passed to the customer,
which generally coincides with their delivery to customer.
g. Sales :
Sales are stated including excise duty deducting sales returns. The
cost of free samples including duties and taxes to customers for sales
promotion are recognised as sales expences credited to sales account.
h. Cenvat :
Cenvat benefit is accounted by reducing from the purchase cost of raw
materials and adjusted against the excise duty levied by the excise
department.
i. Excise Duty :
Liability for Excise Duty on Finished Goods lying in factory is
included in the cost of Finished Goods by making provision for the
excise duty payable.
j. Investments :
All the investments in the company are long term. Long term investments
are carried at cost. However, provision for diminution in value is
made to recognize a decline other than temoorarv in the value of
investments.
k. Preliminary Expenses :
Preliminary Expenses (Miscellaneous Expenditure) including Public Issue
Expenses and Research and Development Expenses incurred by the Company
are being amortised over a period of 10 years. (Amortisation commenced
from 2001-02).
l. Foreign Currency Transaction :
i) Initial Recognition: Transactions denominated in foreign currencies
are recorded at the exchange rates prevailing on the date of the
transaction.
ii) Conversion: At the year end, monetary items denominated in foreign
currencies other than those covered by forward contracts are converted
into rupee equivalents at the year-end exchange rates.
iii) Forward Exchange Contracts: In respect of transactions covered by
forward exchange contracts, the difference between the forward rate and
the exchange rate at the date of the transaction is recognized as
income or expense over the period of the contract.
iv) Exchange Differences: All exchange differences arising on
settlement/conversion of foreign currency transactions are recognised
in the Profit and Loss Account.
m Employee Benefits:
a) Short Term Benefits:
All employees benefits due wholly within a year of rendering services
are classified as short term benefits. These benefits like Salaries,
Wages, Short term compensation absences, expected cost of bonus,
exgratia are recognized as expenses on accrual basis at undiscounted
amount in profit & loss account
b) Retirement Benefits
Defined contribution plan
Employers contribution to Provident Fund are recognized as expenditure
in Profit & Loss Account, as they are incurred. There are no other
obligations other than the contribution payable.
Defined Benefit Plan
The Company provide Gratuity as defined benefit retirement plan and
there are no other Post-Retirement benefits. The defined benefit
Gratuity obligation on annual basis is determined by actuarial
valuation at the end of the year using project unit credit method and
the liability is provided for. Necessary disclosures as required under
AS-15 are submitted in Notes to Accounts.
n. The Company has taken into consideration the provisions of
Accounting Standard - 28 - Impairment of Assets. The Company assesses
at each balance sheet date whether there is any indication that an
asset may be impaired. If any such indication is there, the company
estimates the recoverable amount of the cash-generating unit to which
the asset belongs if recoverable amount is less than its carrying
amount, the carrying amount is reduced to its recoverable amount.
o Borrowing Costs : Borrowing costs are charged to profit and loss
account except in cases where the borrowings are directly attributable
to the acquisition, construction or production of qualifying asset.
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Roopa Industries Ltd. குறித்த கூடுதல் தகவல்களை
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Roopa Industries Ltd. டூல்ஸ்
- பல்க் டீல்ஸ்
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Roopa Industries Ltd. நிறுவன தகவல்கள்
- நிறுவன சுயவிவரம்
- நிறுவன வரலாறு
- நிர்வாக குழு
- மூலதன வடிவம்
- புராடெக்ட் மிக்ஸ்
- வங்கியாளர்/தணிக்கையாளர்/பதிவாளர்
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நிறுவன வரலாறு
- மும்பை பங்குச் சந்தையில் விலை வரலாறு
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Roopa Industries Ltd. முக்கிய நிதியில் விகிதங்கள்
- விகிதங்கள்
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Roopa Industries Ltd. முடிவுகள்
- காலாண்டு முடிவுகள்
- அரையாண்டு முடிவுகள்
- 9 மாத முடிவுகள்
- வருடாந்திர முடிவுகள்
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Roopa Industries Ltd. நிதியியல் தகவல்கள்
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- கணக்கியல் கோட்பாடுகள்
- தணிக்கையாளர்கள் அறிக்கை
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