Alexander Stamps and Coin Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

1.1 CORPORATE INFORMATION:

Alexander Stamps and Coin Limited is Public Limited Company incorporated
in India under the provisions of the Companies Act. The Company''s strength
lies in the business of philatelic and numismatic activity.

The Board of Directors approved the standalone financial statements for the
year ended March 31, 2025 and authorized for issue on May 22^th, 2025.

Significant Accounting policies followed by the Company.

1.2 BASIS OF PREPARATION

i.Compliance with Ind AS

The financial statements comply in all material aspects with Indian
Accounting Standards ("Ind AS") notified under section 133 of the Companies
Act, 2013 ("the Act"), Companies (Indian Accounting Standards) Rules, 2015 as
amended by Companies (Indian Accounting Standards) (Amendment) Rules,
2016 and other relevant provisions of the Act as applicable.

The accounting policies are applied consistently to all the periods presented
in the financial statements.

ANNUAL REPORT FY 2024-25

ALEXANDER STAMPS AND COIN LIMITED

1.1 SIGNIFICANT ACCOUNTING POLICIES

A.Property, Plant and Equipment:

i. Recognition and measurement

Freehold land is carried at cost. All other items of property, plant and
equipment are measured at cost less accumulated depreciation and any
accumulated impairment losses. Cost includes expenditure that is directly
attributable to the acquisition of the items.

Income and expenses related to the incidental operations, not necessary to
bring the item to the location and condition necessary for it to be capable of
operating in the manner intended by management, are recognized in the
Statement of Profit and Loss.

If significant parts of an item of property, plant and equipment have different
useful life, then they are accounted and depreciated for as separate items
(major components) of property, plant and equipment.

Any gain or loss on disposal of an item of property, plant and equipment is
recognized in the Statement of Profit and Loss.

Capital work in progress is stated at cost and includes the cost of the assets
that are not ready for their intended use at the Balance Sheet date.

On transition to Ind AS, the Company has elected to continue with the
carrying value of all of its property, plant and equipment recognized as at
April 1, 2016 measured as per the Previous GAAP and use that carrying value as
the deemed cost (except to the extent of any adjustment permissible under
other accounting standard) of the property, plant and equipment.

ii. Subsequent Expenditure

Subsequent expenditure is capitalized only if it is probable that the future
economic benefits associated with the expenditure will flow to the Company.

iii. Depreciation

Depreciation on tangible fixed assets is provided in accordance with the
provisions of Schedule II of the Companies Act 2013. Depreciation on additions
/ deductions is calculated on pro rata basis from/up to the month of
additions/deductions. The estimated useful life, residual values and
depreciation method are reviewed at the end of each reporting period, with
the effect of any changes in estimate accounted for on a prospective basis.

B. Intangible Assets:

i.Intangible assets are recorded at the consideration paid for acquisition of
such assets and are carried at cost less accumulated amortization and
impairment, if any.

C. Impairment:

i.Non - financial assets

At each balance sheet date, the Company assesses whether there is any
indication that any property, plant and equipment and intangible assets with
finite life may be impaired. If any such impairment exists, the recoverable
amount of an asset is estimated to determine the extent of impairment, if any.
Where 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.

D. Inventories:

i. Finished and Semi-Finished Products produced and purchased by the
company are carried at Cost and net realizable value, whichever is lower.

ii. Work in Progress is carried at lower of cost and net realizable value.

iii. Raw Material is carried at lower of cost and net realizable value.

iv. Stores and Spares parts are carried at cost. Necessary provision is made
and expensed in case of identified obsolete and nonmoving items.

Cost of Inventory is generally ascertained on the ''Weighted average'' basis.
Work in progress, Finished and semi-finished products are valued at on full
absorption cost basis.

Cost Comprises expenditure incurred in the normal course of business in
bringing such inventories to its location and includes, where applicable,
appropriate overheads based on normal level of activity. Packing Material is
considered as finished goods. Consumable stores are written off in the year of
Purchase.

A. Foreign Currency Transactions

Transactions in Foreign Currency and Non-Monetary Assets are accounted for
at the Exchange Rate prevailing on the date of the transaction. All monetary
items denominated in Foreign Currency are converted at the Year-End
Exchange Rate. The Exchange Differences arising on such conversion and on
settlement of the transactions are recognized as income or as expenses in the
year in which they arise.

B. Investments and Other Financial Assets:

Classification

The Company classifies its financial assets in the following measurement
categories:

• Those to be measured subsequently at fair value (either through other
comprehensive income, or through Statement of Profit and Loss), and

• Those measured at amortized cost.

The classification depends on the Company''s business model for managing
the financial assets and the contractual terms of the cash flows. For assets
measured at fair value, gains and losses will either be recorded in Statement
of Profit and Loss or other comprehensive income. For investments in debt
instruments, this will depend on the business model in which the investment is
held. For investments in equity instruments, this will depend on whether the
Company has made an irrevocable election at the time of initial recognition
to account for the equity investment at fair value through other
comprehensive income.

The Company reclassifies debt or equity investments when and only when its
business model for managing those assets changes.

Measurement

At initial recognition, in case of a financial asset not at fair value through profit
and loss, the Company measures a financial asset at its fair value plus,
transaction costs that are directly attributable to the

acquisition of the financial asset. Transaction costs of financial assets carried
at fair value through Statement of Profit and Loss are expensed in Statement
of Profit and Loss.

(a) Amortized cost: Assets that are held for collection of contractual cash
flows where those cash flows represent solely payments of principal and
interest are measured at amortized cost.

(b) Fair Value through Other Comprehensive Income (FVOCI): Assets that are
held for collection of contractual cash flows and for selling the financial
assets, where the assets'' cash flows represent solely payments of principal
and interest, are measured at FVOCI. Movements in the carrying amount are
taken through Other Comprehensive Income (OCI), except for the recognition
of impairment gains or losses, interest revenue and foreign exchange gains
and losses which are recognized in Statement of Profit and Loss. When the
financial asset is derecognized, the cumulative gain or loss previously
recognized in OCI is reclassified from equity to profit and loss and recognized
in other gains/ losses. Interest income from these financial assets is included
in other income using the effective interest rate method.

(c) Fair value through profit and loss: Assets that do not meet the criteria for
amortized cost or FVOCI are measured at fair value through Statement of
Profit and Loss. Interest income from these financial assets is included in other
income.

Equity Instruments

The Company subsequently measures all equity investments at fair value.
Where the Company''s management has elected to present fair value gains
and losses on equity investments in OCI, there is no subsequent
reclassification of fair value gains and losses to Statement of Profit and Loss.
Dividends from such investments are recognized in Statement of Profit and
Loss as other income when the Company''s right to receive payment is
established.

Changes in the fair value of financial assets at fair value through profit and
loss are recognized in other gain/losses in the Statement of Profit and Loss.
Impairment losses (and reversal of impairment losses) on equity investments
measured at FVOCI are not reported separately from other changes in fair
value.

Derecognition

A financial asset is derecognized only when

(a) The Company has transferred the rights to receive cash flows from the
financial asset or

(b) Retains the contractual rights to receive the cash flows of the financial
asset, but assumes a contractual obligation to pay the cash flows to one or
more recipients.

G. Cash and Cash Equivalents:

Cash and cash equivalents in the balance sheet comprise cash at banks and
on hand and highly liquid investments with an original maturity of three
months or less, which are subject to an insignificant risk of changes in value.

H. Financial Liabilities:

Measurement

All financial liabilities are recognized initially at fair value and in the case of
loans, borrowings and payables recognized net of directly attributable
transaction costs.

The Company''s financial liabilities include trade and other payables, loans
and borrowings and derivative financial instruments.

Derecognition

A financial liability is derecognized when the obligation under the liability is
discharged or cancelled or expires. Gains and losses are recognized in
Statement of Profit and Loss when the liabilities are derecognized as well as
through the EIR amortization process.

I. Revenue recognition:

Revenue from contracts with customers is recognised when control of the
goods or services are transferred to the customer at an amount that reflects
the consideration to which the Company expects to be entitled in exchange
for those goods or services.

Revenue from the sale of goods is recognized at the point in time when
control of the asset is transferred to the customer, generally on the delivery of
the goods. Revenue is recognisable to the extent of the amount that reflects
the consideration (i.e. the transaction price) to which the Company is
expected to be entitled in exchange for those goods or services excluding any
amount received on behalf of third party (such as indirect taxes).

J. Other Income:

Other income is comprised primarily of interest income, dividend income,
gain/loss on investments and exchange gain/loss on forward and options
contracts and on translation of other assets and liabilities. Interest income is
recognized using the effective interest method. Claims for export incentives/
duty drawbacks, duty refunds and insurance are accounted when the right to
receive payment is established. Dividend Income is recognized when the right
to receive dividend is established.

K. Employee benefits:

A. Short term employee benefits:

All employee benefits payable wholly within twelve months of rendering the
service are classified as short term employee benefits. Benefits such as
salaries, wages, performance incentives, etc. are recognized at actual
amounts due in the period in which the employee renders the related service.

B. Contribution towards defined benefit contribution Schemes
Gratuity plan

The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service is eligible for gratuity on post¬
employment at 15 days salary (last drawn salary) for each completed year of
service as per the rules of the Company. The aforesaid liability is provided for
on the basis of an actuarial valuation on projected unit credit method made
at the end of the financial year. Current service cost, Past-service costs are
recognized immediately in Statement of profit or loss.

Re-measurement gains and losses arising from experience adjustments and
changes in actuarial assumptions are charged or credited to equity in other
comprehensive income in the period in which they arise. They are included in
retained earnings in the statement of changes in equity and in the balance
sheet. Re measurements are not reclassified to profit or loss in subsequent
periods.

L. Borrowing costs:

Borrowing costs directly attributable to the acquisition, construction or
production of a qualifying asset that necessarily takes a substantial period of
time to get ready for its intended use or sale are capitalized as part of the cost
of the asset. All other borrowing costs are expensed in the period in which they
occur.

M. Taxes on Income:

Income Tax expense comprises of current and deferred tax. Income Tax
expense is recognized in net profit in the Statement of Profit and Loss except
to the extent that it relates to items recognized directly in equity, in which case
it is recognized in other comprehensive income.

(i) Current Tax

Current Tax is the amount of income taxes payable (recoverable) in respect
of the taxable profit (tax loss) for a period. Current tax for current and prior
periods is recognized at the amount expected to be paid to or recovered from
the tax authorities, using the tax rate and tax laws that have been enacted or
substantively enacted by the Balance Sheet date
Current tax assets and liabilities are offset if, and only if, the Company:

a) has a legally enforceable right to set off the recognized amounts; and

b) intends either to settle on a net basis, or to realize the asset and settle the
liability simultaneously.

Deferred tax is recognized in respect of temporary differences between the
carrying amounts of assets and liabilities for financial reporting purposes and
the amounts used for taxation purposes.

Deferred tax assets are recognized for unused tax losses, unused tax credits
and deductible temporary differences to the extent that it is probable that
future taxable profits will be available against which they can be used.
Deferred tax assets are reviewed at each reporting date and are reduced to
the extent that it is no longer probable that the related tax benefit will be
realized; such reductions are reversed when the probability of future taxable
profits improves. Unrecognized deferred tax assets are reassessed at each
reporting date and recognized to the extent that it has become probable that
future taxable profits will be available against which they can be used.

The measurement of deferred tax reflects the tax consequences that would
follow from the manner in which the Company expects, at the reporting date,
to recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are offset only if:

a) the entity has a legally enforceable right to set off current tax assets
against current tax liabilities; and

b) the deferred tax assets and the deferred tax liabilities relate to income
taxes levied by the same taxation authority on the same taxable entity.

---

Mar 31, 2024

1.3 SIGNIFICANT ACCOUNTING POLICIES

A. Property, Plant and Equipment:

i. Recognition and measurement

Freehold land is carried at cost. All other items of property, plant and equipment are measured
at cost less accumulated depreciation and any accumulated impairment losses. Cost includes
expenditure that is directly attributable to the acquisition of the items.

Income and expenses related to the incidental operations, not necessary to bring the item to
the location and condition necessary for it to be capable of operating in the manner intended
by management, are recognized in the Statement of Profit and Loss.

If significant parts of an item of property, plant and equipment have different useful life, then
they are accounted and depreciated for as separate items (major components) of property,
plant and equipment.

Any gain or loss on disposal of an item of property, plant and equipment is recognized in the
Statement of Profit and Loss.

Capital work in progress is stated at cost and includes the cost of the assets that are not ready
for their intended use at the Balance Sheet date.

On transition to Ind AS, the Company has elected to continue with the carrying value of all
of its property, plant and equipment recognized as at April 1, 2016 measured as per the

Previous GAAP and use that carrying value as the deemed cost (except to the extent of any
adjustment permissible under other accounting standard) of the property, plant and
equipment.

ii. Subsequent Expenditure

Subsequent expenditure is capitalized only if it is probable that the future economic benefits
associated with the expenditure will flow to the Company.

iii. Depreciation

Depreciation on tangible fixed assets is provided in accordance with the provisions of
Schedule II of the Companies Act 2013. Depreciation on additions / deductions is calculated
on pro rata basis from/up to the month of additions/deductions. The estimated useful life,
residual values and depreciation method are reviewed at the end of each reporting period,
with the effect of any changes in estimate accounted for on a prospective basis.

B. Intangible Assets:

i. Intangible assets are recorded at the consideration paid for acquisition of such assets and are
carried at cost less accumulated amortization and impairment, if any.

C. Impairment:

i. Non - financial assets

At each balance sheet date, the Company assesses whether there is any indication that any
property, plant and equipment and intangible assets with finite life may be impaired. If any
such impairment exists, the recoverable amount of an asset is estimated to determine the
extent of impairment, if any. Where 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.

D. Inventories:

i. Finished and Semi-Finished Products produced and purchased by the company are
carried at Cost and net realizable value, whichever is lower.

ii. Work in Progress is carried at lower of cost and net realizable value.

iii. Raw Material is carried at lower of cost and net realizable value.

iv. Stores and Spares parts are carried at cost. Necessary provision is made and expensed in
case of identified obsolete and nonmoving items.

Cost of Inventory is generally ascertained on the ‘Weighted average’ basis. Work in
progress, Finished and semi-finished products are valued at on full absorption cost basis.

Cost Comprises expenditure incurred in the normal course of business in bringing such
inventories to its location and includes, where applicable, appropriate overheads based on
normal level of activity. Packing Material is considered as finished goods. Consumable
stores are written off in the year of Purchase.

E. Foreign Currency Transactions

Transactions in Foreign Currency and Non-Monetary Assets are accounted for at the
Exchange Rate prevailing on the date of the transaction. All monetary items denominated
in Foreign Currency are converted at the Year-End Exchange Rate. The Exchange
Differences arising on such conversion and on settlement of the transactions are recognized
as income or as expenses in the year in which they arise.

F. Investments and Other Financial Assets:

Classification

The Company classifies its financial assets in the following measurement categories:

• Those to be measured subsequently at fair value (either through other comprehensive
income, or through Statement of Profit and Loss), and

• Those measured at amortized cost.

The classification depends on the Company’s business model for managing the financial
assets and the contractual terms of the cash flows. For assets measured at fair value, gains
and losses will either be recorded in Statement of Profit and Loss or other comprehensive
income. For investments in debt instruments, this will depend on the business model in
which the investment is held. For investments in equity instruments, this will depend on
whether the Company has made an irrevocable election at the time of initial recognition to
account for the equity investment at fair value through other comprehensive income.

The Company reclassifies debt or equity investments when and only when its business
model for managing those assets changes.

Measurement

At initial recognition, in case of a financial asset not at fair value through profit and loss,
the Company measures a financial asset at its fair value plus, transaction costs that are
directly attributable to the acquisition of the financial asset. Transaction costs of financial
assets carried at fair value through Statement of Profit and Loss are expensed in Statement
of Profit and Loss.

(a) Amortized cost: Assets that are held for collection of contractual cash flows where those
cash flows represent solely payments of principal and interest are measured at amortized
cost.

(b) Fair Value through Other Comprehensive Income (FVOCI): Assets that are held for
collection of contractual cash flows and for selling the financial assets, where the assets’
cash flows represent solely payments of principal and interest, are measured at FVOCI.
Movements in the carrying amount are taken through Other Comprehensive Income (OCI),
except for the recognition of impairment gains or losses, interest revenue and foreign
exchange gains and losses which are recognized in Statement of Profit and Loss. When the
financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is
reclassified from equity to profit and loss and recognized in other gains/ losses. Interest
income from these financial assets is included in other income using the effective interest
rate method.

(c) Fair value through profit and loss: Assets that do not meet the criteria for amortized cost
or FVOCI are measured at fair value through Statement of Profit and Loss. Interest income
from these financial assets is included in other income.

Equity Instruments

The Company subsequently measures all equity investments at fair value. Where the
Company’s management has elected to present fair value gains and losses on equity
investments in OCI, there is no subsequent reclassification of fair value gains and losses to
Statement of Profit and Loss. Dividends from such investments are recognized in Statement
of Profit and Loss as other income when the Company’s right to receive payment is
established.

Changes in the fair value of financial assets at fair value through profit and loss are
recognized in other gain/losses in the Statement of Profit and Loss. Impairment losses (and
reversal of impairment losses) on equity investments measured at FVOCI are not reported
separately from other changes in fair value.

Derecognition

A financial asset is derecognized only when

(a) The Company has transferred the rights to receive cash flows from the financial asset or

(b) Retains the contractual rights to receive the cash flows of the financial asset, but assumes
a contractual obligation to pay the cash flows to one or more recipients.

G. Cash and Cash Equivalents:

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and
highly liquid investments with an original maturity of three months or less, which are subject
to an insignificant risk of changes in value.

H. Financial Liabilities:

Measurement

All financial liabilities are recognized initially at fair value and in the case of loans,
borrowings and payables recognized net of directly attributable transaction costs.

The Company’s financial liabilities include trade and other payables, loans and borrowings
and derivative financial instruments.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires. Gains and losses are recognized in Statement of Profit and Loss when
the liabilities are derecognized as well as through the EIR amortization process.

I. Revenue recognition:

Revenue from contracts with customers is recognised when control of the goods or services
are transferred to the customer at an amount that reflects the consideration to which the
Company expects to be entitled in exchange for those goods or services.

Revenue from the sale of goods is recognized at the point in time when control of the asset
is transferred to the customer, generally on the delivery of the goods. Revenue is recognisable
to the extent of the amount that reflects the consideration (i.e. the transaction price) to which
the Company is expected to be entitled in exchange for those goods or services excluding
any amount received on behalf of third party (such as indirect taxes).

J. Other Income:

Other income is comprised primarily of interest income, dividend income, gain/loss on
investments and exchange gain/loss on forward and options contracts and on translation of
other assets and liabilities. Interest income is recognized using the effective interest method.
Claims for export incentives/ duty drawbacks, duty refunds and insurance are accounted
when the right to receive payment is established. Dividend Income is recognized when the
right to receive dividend is established.

K. Employee benefits:

A. Short term employee benefits:

All employee benefits payable wholly within twelve months of rendering the service are
classified as short-term employee benefits. Benefits such as salaries, wages, performance
incentives, etc. are recognized at actual amounts due in the period in which the employee
renders the related service.

B. Contribution towards defined benefit contribution Schemes
Gratuity plan

The Company has a defined benefit gratuity plan. Every employee who has completed five
years or more of service is eligible for gratuity on post-employment at 15 days salary (last
drawn salary) for each completed year of service as per the rules of the Company. The
aforesaid liability is provided for on the basis of an actuarial valuation on projected unit credit
method made at the end of the financial year. Current service cost, Past-service costs are
recognized immediately in Statement of profit or loss.

Re-measurement gains and losses arising from experience adjustments and changes in
actuarial assumptions are charged or credited to equity in other comprehensive income in the
period in which they arise. They are included in retained earnings in the statement of changes
in equity and in the balance sheet. Re measurements are not reclassified to profit or loss in
subsequent periods.

L. Borrowing costs:

Borrowing costs directly attributable to the acquisition, construction or production of a
qualifying asset that necessarily takes a substantial period of time to get ready for its
intended use or sale are capitalized as part of the cost of the asset. All other borrowing costs
are expensed in the period in which they occur.

M. Taxes on Income:

Income Tax expense comprises of current and deferred tax. Income Tax expense is
recognized in net profit in the Statement of Profit and Loss except to the extent that it relates
to items recognized directly in equity, in which case it is recognized in other comprehensive
income.

(i) Current Tax

Current Tax is the amount of income taxes payable (recoverable) in respect of the taxable
profit (tax loss) for a period. Current tax for current and prior periods is recognized at the
amount expected to be paid to or recovered from the tax authorities, using the tax rate and
tax laws that have been enacted or substantively enacted by the Balance Sheet date
Current tax assets and liabilities are offset if, and only if, the Company:

a) has a legally enforceable right to set off the recognized amounts; and

b) intends either to settle on a net basis, or to realize the asset and settle the liability
simultaneously.

Deferred tax is recognized in respect of temporary differences between the carrying amounts
of assets and liabilities for financial reporting purposes and the amounts used for taxation
purposes.

Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible
temporary differences to the extent that it is probable that future taxable profits will be
available against which they can be used. Deferred tax assets are reviewed at each reporting
date and are reduced to the extent that it is no longer probable that the related tax benefit
will be realized; such reductions are reversed when the probability of future taxable profits
improves. Unrecognized deferred tax assets are reassessed at each reporting date and
recognized to the extent that it has become probable that future taxable profits will be
available against which they can be used.

The measurement of deferred tax reflects the tax consequences that would follow from the
manner in which the Company expects, at the reporting date, to recover or settle the carrying
amount of its assets and liabilities.

Deferred tax assets and liabilities are offset only if:

a) the entity has a legally enforceable right to set off current tax assets against current tax
liabilities; and

b) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the
same taxation authority on the same taxable entity.

---

Mar 31, 2016

a) Basis of Preparation of Financial Statements:

These financial statements have been prepared to comply with the generally accepted accounting principles in India (Indian GAAP), including the Accounting standards notified under the relevant provisions of the Companies Act, 2013. The company has prepared these financial statements to company in all material respects with the Accounting standards, notified under Section 133 of the Companies Act, 2013 ("the Act") read together with paragraph 7 of the Companies (Accounts) Rules 2014 to reflect the financial position and the results of operations of Rudraksh Cap Tech Limited.

The financial statements are prepared on accrual basis under the historical cost convention. The financial statements are presented in Indian rupees rounded off to the nearest rupees.

The central government in consultation with National Advisory Committee on Accounting standards has amended Companies (Accounting Standard) Rules, 2016 (''principal rules''), vide notification issued by Ministry of Corporate Affairs dated and effective March 30, 2016. The Company believes that the Rule 3(2) of the principal rules has not been withdrawn or replaced and accordingly, the Companies (Accounting Standard) Rules, 2016 will apply for the accounting periods commencing on or after March 30, 2016. Hence the company has not applied the Companies (Accounting Standards) Rules, 2016 in preparation of financial results for the year ended March 31, 2016.

b) Use of Estimates:

The preparation of financial statements in conformity with Indian GAAP required judgments, estimates and assumptions to be made that affect the reported amount of assets and liabilities, disclosure of contingent liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Difference between the actual results and estimates are recognized in the period in which the results are known / materialized.

c) Fixed assets:

Tangible Assets:

The Company does not have any fixed assets during the year under review.

There is no assets in the books of company which can be accounted as intangible assets.

d) Depreciation, Amortization and Depletion:

Tangible Assets:

The Company does not have any fixed assets during the year under review. Intangible Assets:

There is no intangible asset in the books of company.

e) Investments:

The Company does not have any investment during the year under review.

f) Foreign Currency transactions:

The Company does not have any Foreign Currency transactions during the year under review.

g) Current assets:

Inventories:

Items of inventories are measured at cost of Purchase. Cost of inventories comprises of cost of purchase and other costs including overheads incurred in bringing them to their respective present location and condition.

Sundry debtors:

Sundry debtors are stated at realizable value. Other loans and advances are stated at realizable value.

h) Prior period and non-recurring items

Prior period and non-recurring and extra ordinary items are disclosed separately if material.

i) Income Taxes:

Tax expense comprises of current tax and deferred tax. Current tax is measured at the amount expected to be paid to the tax authorities, using the applicable tax rates. Deferred income tax reflect the current period timing difference between taxable income and accounting income for the period and reversal of timing differences of earlier year / period. Deferred tax assets are recognized only to the extent that there is a reasonable certainty that sufficient future income will be available except that deferred tax assets, in case there are unabsorbed depreciation or losses, are recognized if there is virtual certainty that sufficient future taxable income will be available to realize the same.

Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted by the Balance Sheet date.

j) Provisions, Contingent liabilities and contingent assets:

Provision is recognized in the accounts when there is a present obligation as a result of part event(s) and it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made. Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed unless the possibility of outflow of resources is remote.

Contingent assets are neither recognized nor disclosed in the financial statements.

k) Revenue Recognition:

Revenue is recognized only when risks and rewards incidental to ownership are transferred to the customer, it can be reliably measured and it is reasonable to expect ultimate collection. Revenue from operations includes sale of goods, services, service tax, excise duty and sales during trial run period, adjusted for discounts (net), and gain / loss on corresponding hedge contracts.

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the interest rate applicable.

Excise duty / Service tax:

Excise duty / service tax is accounted on the basis of both, payments made in respect of goods cleared / services provided and provisions made for goods lying in bonded warehouses.

l) Employees Benefits:

Company''s contribution to provident fund are charged to profit & loss account. Gratuity provision is made on the basis of actuarial valuation and leave encashment expenses are accounted for on payment basis.

m) Impairment of Asset :

At each balance sheet date the carrying amount of the asset is tested for impairment. If there is an indication of impairment, the company estimates the recoverable amount of assets. If such recoverable amount of the asset or the recoverable amount of cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is tested as an impairment loss and is recognized in the profit and loss account. If at the balance sheet date there is an indication that the previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount.

n) Borrowing cost:

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All other borrowing costs are charged to the profit and loss statement in the period in which they are incurred.

o) Earnings per Share (EPS):

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Partly paid equity shares are treated as a fraction of an equity share to the extent that they are entitled to participate in dividends relative to a fully paid equity share during the reporting period. The weighted average number of equity shares outstanding during the year is adjusted for events such as bonus issue, bonus elements in right issue to existing shareholders, share split, and reverse share split (consolidation of shares) that have changed the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

p) Segment reporting:

The company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the consolidated financial statements of the company.

q) Cash and cash equivalents:

Cash and cash equivalents for the purpose of cash flow statement comprise cash at bank and in hand and short term investments with an original maturity of three months or less.

---

Mar 31, 2012

Not Availabe