Jeet Machine Tools Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

1. CORPORATE INFORMATION

Jeet Machine Tools Limited is BSE Listed Company (BSE Scrip Code: 513012) incorporated on May 10^th, 1984 under Companies Act, 1956. The activities of the company include dealing in Work Shop Machinery for sheet metal, wood working, garage and air compressor.

2. BASIS OF PREPARATION

In accordance with the notification issued by the Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (“Ind AS”) notified under The Companies (Indian Accounting Standards) Rules, 2015 and The Companies (Indian Accounting Standards) amendment Rules 2016, as amended with effect from April 1, 2017. The financial statements of the Company have been prepared and presented in accordance with Ind AS. Previous year numbers in the financial statements have been restated to Ind AS.

These financial statements have been prepared on a historical cost basis, except for certain financial instruments which are measured at fair value at the end of each reporting period, as explained further in the accounting policies below.

Certain financial assets like investment in equity shares are measured at fair value, Assets held for sale which form part of disposal group are measured at cost or fair value less cost to sale whichever is lower.

The standalone financial statements are presented in INR in lacs (T) except when otherwise indicated.

2.01 Summary of significant accounting policies

(A) Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on current/ noncurrent classification.

An asset is treated as current when it is:

Expected to be realised in normal operating cycle or within twelve months after the reporting period

Held primarily for the purpose of trading, or

Cash or cash equivalents unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

It is expected to be settled in normal operating cycle or due to be settled within twelve months after the reporting period or

There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash equivalents. The Company has identified period of twelve months as its operating cycle.

(B) Significant accounting, judgments, estimates and assumptions

The preparation of the Company''s Financial Statements in conformity with Ind AS requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities, the accompanying disclosures, and the disclosure of contingent assets and contingent liabilities on the date of the standalone financial statements and the reported amounts of revenues and expenses for the year reported. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimates are revised and future periods are affected.

Key source of estimation of uncertainty as at the date of financial statements, which may cause a material adjustment to the carrying amounts of assets and liabilities within the next financial year, is in respect of the following:

Investment in equity shares:

The Company is exposed to equity price risk from investments in equity securities measured at fair value through profit and loss. The Management monitors the proportion of equity securities in its investment portfolio based on market indices. Material investments within the portfolio are managed on an individual basis and all buy and sell decisions are approved by the Board of Directors.

Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash generating unit (“CGU”) exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm''s length, for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a discounted cash flow (“DCF”) model. The cash flows are derived from the budget for future years and do not include restructuring activities that the Company is not yet committed to or significant future investments that will enhance the asset''s performance of the CGU being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes.

Impairment of financial assets

The Company assesses impairment of financial assets (‘Financial instruments'') and recognizes expected credit losses in accordance with Ind AS 109. The Company provides for impairment of trade receivables and unbilled revenue outstanding for more than 1 year from the date they are due for payment and billing respectively. The Company also assesses for impairment of financial assets on specific identification basis at each period end.

Impairment exists when there is a diminution in value of the investment and the recoverable value of such investment is lower than the carrying value of such investment.

(C) Property pant and Equipment''s

Property, Plant and Equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Cost comprises of purchase price inclusive of taxes etc. up to the date the asset is ready for its intended use. Depreciation is provided under written down value method at the rates and in the manner prescribed under Schedule II to the Companies Act, 2013. Company not having any assets.

(D) Depreciation Tangible Fixed Assets.

Depreciation on fixed assets is calculated on a written down value method at based on the useful lives estimated by the management, or those prescribed under the Schedule II of the Companies Act, 2013, The company not having any PPE as on dated 31.03.2025. Company not having any assets.

(E) Intangible Assets

Intangible Assets with finite useful lives that are acquired separately are stated at acquisition cost, net of recoverable taxes, trade discount and rebate less accumulated amortisation and accumulated impairment losses, if any. Such cost includes purchase price and any expenditure directly attributable to bringing the asset to its working condition for the intended use. Company not having any assets.

Subsequent cost is included in the asset''s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably.

An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognised in profit or loss when the asset is derecognised.

Intangible assets are amortized over their respective individual estimated useful lives on a straight- line basis from date they are available for use. The estimated useful life of an identifiable intangible asset is based on number of factors including the effect of obsolesce, demand, competition and other economic factors and level of maintenance expenditures required to obtain the expected future cash flows from the assets.

(F) Borrowing Costs

Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the arrangement of borrowings and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost.

Borrowing costs directly attributable to the acquisition, construction or production of an 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 respective asset. All other borrowing costs are expensed in the period they occur.

(G) Impairment of non-financial assets

For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash generating units). As a result, some assets are tested individually for impairment and some are tested at the cash generating unit level.

All individual assets or cash generating units are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

The carrying amounts of assets are reviewed at each balance sheet date to determine if there is any indication of impairment based on external or internal factors. An impairment loss is recognised wherever the carrying amount of an asset exceeds its recoverable amount which represents the greater of the net selling price of assets and their ‘value in use'' in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.

Life time ECL are the expected credit losses resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that are possible within 12 months after the reporting date.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR. When estimating the cash flows, an entity is required to consider all contractual terms of the financial instrument (including prepayment, extension, call and similar options) over the expected life of the financial instrument. However, in rare cases when the expected life of the financial instrument cannot be estimated reliably, then the entity is required to use the remaining contractual term of the financial instrument.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the Statement of profit and loss. This amount is reflected under the head ‘other expenses'' in the Statement of profit and loss.

For assessing increase in credit risk and impairment loss, the Company combines financial instruments on the basis of shared credit risk characteristics with the objective of facilitating an analysis that is designed to enable significant increases in credit risk to be identified on a timely basis

(H) Impairment of financial assets

In accordance with Ind. AS 109, the Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on risk exposure arising from financial assets like debt instruments measured at amortised cost e.g., trade receivables and deposits.

The Company follows ‘simplified approach'' for recognition of impairment loss allowance on Trade receivables or contract revenue receivables. The application of simplified approach does not require the Company to track changes Purchase price is assigned using a weighted average basis. Net realizable value is defined as anticipated selling price or anticipated revenue less cost to completion.

(I) Investments in subsidiaries, Associates and Joint Ventures: Not applicable

(J) Inventories

Consumables, stores and spares are valued at lower of cost computed on weighted average basis or net realisable value after providing cost of obsolescence, if any. The cost of inventories comprises cost of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realisable value is estimated selling price in ordinary course of business less the estimated cost necessary to make the sale.

(K) Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognized:

i. Revenue from sale of services

Revenue from sale of services is recognised as and when the services agreed are rendered, net of discount to the customers and amount collected on behalf of third parties such as Goods and service tax and VAT.

ii. Revenue from Sale of goods

Revenue from sales of goods is measured at the fair value of the consideration received or receivable excluding taxes or duties collected on behalf of the government.

iii. Interest

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. Interest income is included under the head “other income” in the statement of profit and loss.

(L) Taxes

Tax expense comprises of current and deferred tax.

Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities in accordance with the Income-tax Act, 1961. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Current income tax relating to items recognised outside profit and loss is recognised outside profit and loss (either in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Tax liability under Minimum Alternate Tax (“MAT”) is considered as current tax. MAT entitlement is considered as deferred tax.

Minimum Alternative Tax (“MAT”) credit is recognised 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 convincing evidence to the effect that the Company will pay normal income tax during the specified period.

Deferred tax

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

When the deferred tax liability arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.

In respect of taxable temporary differences associated with investments in subsidiaries when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future

Deferred tax assets are recognised for all deductible temporary differences and the carry forward of any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax losses can be utilised, except:

When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss

In respect of deductible temporary differences associated with investments in subsidiaries deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognised outside profit and loss is recognised outside profit and loss (either in OCI or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

(M) Foreign Currency Translation

Transactions in foreign currencies are translated at the rates of exchange prevailing on the dates of the transactions. Monetary assets and liabilities in foreign currencies are translated at the prevailing rates of exchange at the balance sheet date. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined.

Any exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were initially recorded are recognized in the Statement of profit and loss in the period in which they arise. Nonmonetary items carried at fair value that are denominated in foreign currencies are translated at rates prevailing at the date when the fair value was determined. Nonmonetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

The Company''s functional currency and the presentation currency is same i.e. Indian Rupee.

(N) Retirement and Other Employee Benefits

Company doesn''t have any employee who has completed 5 year s of continues services for provision for gratuity and other benefits. And Contributions payable by the Company to the concerned government authorities in respect of provident fund, family pension fund and employee state insurance are charged to the profit and loss account if any.

(O) Segment reporting

The company''s business activity falls within a single primary segment the disclosure requirements of Indian Accounting Standard (‘Ind AS-108'') "Operating segment is not applicable.

(P) Provisions Recognition of Provision:

A provision is recognized when the company has i) a present obligation as a result of past event, ii) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and iii) a reliable estimate can be made of the amount of the obligation. Where the effect of the time value of money is material, the amount of provision shall be the present value of the expenditures expected to be required to settle the obligation. Provisions shall be reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision shall be reversed.

Where the company expects some or all of a provision to be reimbursed, for example under an insurance contract, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the statement of profit and loss net of any reimbursement.

(Q) 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.

(R) Earnings per share

The basic earnings per equity share are computed by dividing the net profit attributable to the equity shareholders for the reporting period by the weighted average number of Equity shares outstanding during the reporting period.

The number of shares used in computing diluted earnings per share comprises the weighted average number of shares considered for deriving basic earnings per share and also the weighted average number of equity shares, which may be issued on the conversion of all dilutive potential shares, unless the results would be anti-dilutive.

The earnings per share are calculated as under
Particulars	31-Mar-25	31-Mar-24
Net profit/(loss) after tax for the year	(65.01)	(25.20)
Equity shares outstanding as the year end	19,60,000	19,60,000
Nominal value per share (Rs.)	10	10
Earnings per share
- Basic	(3.32)	(1.29)
- Diluted	(3.32)	(1.29)

(S)LeasesWhere the Company is the lessee

Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of the leased item, are classified as operating leases. Operating lease payments are recognized as an expense in the statement of profit and loss on a straightline basis over the lease term.

Where the Company is the lessor Assets subject to operating leases are included in property plant and equipment. Lease income on an operating income is recognized in the statement of profit and loss on a straight-line basis over the lease term. Costs, including depreciation are recognized as an expense in the statement of profit and loss. Initial direct costs such as legal costs, brokerage costs, etc. are recognized immediately in the statement of profit and loss.

(U) Fair value measurement

The company measures financial instrument such as investments at fair value at each 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. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

In the principal market for the asset or liability - or

In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

• Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable

• Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

Currently company carries those instruments in level 1 inputs of the above mentioned fair value hierarchy.

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.

(V) Financial instruments:

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

i. Financial assetsInitial recognition and measurement

All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at fair value through profit and loss, transaction costs that are attributable to the acquisition of the financial asset.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in three broad categories:

• Debt instruments assets at amortised cost

• Equity instruments measured at fair value through profit or loss (FVTPL)

When assets are measured at fair value, gains and losses are either recognised entirely in the statement of profit and loss (i.e. fair value through profit and loss), or recognised in other comprehensive income (i.e. fair value through other comprehensive income).

Debt instruments at amortised cost

A debt instrument is measured at amortised cost (net of any write down for impairment) if both the following conditions are met:

• the asset is held to collect the contractual cash flows (rather than to sell the instrument prior to its contractual maturity to realise its fair value changes), and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding.

Such financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included in finance income in the profit and loss. The losses arising from impairment are recognised statement of profit and loss. This category generally applies to trade and other receivables

Financial assets at fair value through OCI (FVTOCI)

A financial asset that meets the following two conditions is measured at fair value through OCI unless the asset is designated at fair value through profit and loss under fair value option.

• The financial asset is held both to collect contractual cash flows and to sell.

• 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.

Instruments included within the FVTOCI category are measured initially as well as at each reporting date at fair value. Fair value movements are recognized in OCI. However, the Company recognizes interest income, impairment losses & reversals and foreign exchange gain or loss in the Profit and Loss. On derecognition of the asset, cumulative gain or loss previously recognised in OCI is reclassified from the equity to Profit and Loss. Interest earned whilst holding FVTOCI debt instrument is reported as interest income using the EIR method.

Financial assets at fair value through profit and loss

FVTPL is a residual category for company''s investment instruments. Any instruments which does not meet the criteria for categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.

All investments included within the FVTPL category are measured at fair value with all changes recognized in the Profit and Loss

In addition, the company may elect to designate an instrument, which otherwise meets amortized cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ‘accounting mismatch'').

Equity investments

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading are classified as at FVTPL. For all other equity instruments, the Company may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value. The Company has not made any such election. This classification is made on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVOCI, then all fair value changes on the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts from OCI to P&L, even on sale of investment, However, the Company may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes recognized in the P&L.

Derecognition

When the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through'' arrangement; it evaluates if and to what extent it has retained the risks and rewards of ownership.

A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is primarily derecognised when:

• The rights to receive cash flows from the asset have expired, or

• Based on above evaluation, either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognise the transferred asset to the extent of the Company''s continuing involvement. In that case, the Company also recognises an associated liability. The transferred asset and the associated liability are measured on a bases that reflect the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay.

Impairment of financial assets

The Company assesses at each date of balance sheet whether a financial asset or a group of financial assets is impaired. Ind AS 109 (‘Financial instruments'') requires expected credit losses to be measured through a loss allowance. The Company recognizes lifetime expected losses for all contract assets and / or all trade receivables that do not constitute a financing transaction. For all other financial assets, expected credit losses are measured at an amount equal to the 12-month expected credit losses or at an amount equal to the life time expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition.

ii. Financial liabilitiesInitial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit and loss or at amortised cost, as appropriate.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs. The Company''s financial liabilities include trade payables, lease obligations, and other payables.

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at amortised cost

After initial recognition, interest-bearing loans and borrowings and other payables are subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in profit and loss when the liabilities are derecognised as well as through the EIR amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. 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 the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit and loss.

iii. Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

iv. Reclassification of financial assets

The Company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets. Changes to the business model are expected to be infrequent. The Company''s senior management determines change in the business model as a result of external or internal changes which are significant to t he Company''s operations. Such changes are evident to external parties. A change in the business model occurs when the Company either begins or ceases to perform an activity that is significant to its operations. If the Company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following the change in business model. The Company does not restate any previously recognised gains, losses (including impairment gains or losses) or interest.

(W) Recent accounting pronouncements

Appendix B to Ind AS 21, Foreign currency transactions and advance consideration: On March 28, 2018, the Ministry of Corporate Affairs (‘the MCA'') notified the Companies (Indian Accounting Standards) Amendment Rule, 2018 containing Appendix B to Ind AS 21, Foreign currency transactions and advance consideration which clarifies the date of the transaction for the purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income, which an entity has received or paid advance consideration in foreign currency.

The amendment will come into force from April 1, 2018, The Company has evaluated the effect of this on the financial statements and the same is not applicable to the Company.

Ind AS 115, Revenue from Contract with Customers: On March 28, 2018, the MCA notified the Ind AS 115. The core principle of the new standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Further, the new standard requires enhanced disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the entity''s contracts with customers.

The standard permits two possible methods of transaction:

• Retrospective approach: Under this approach the standard will be applied retrospectively to each prior reporting period presented in accordance with Ind AS 8, Accounting, Policies, Changes in Accounting Estimates and Errors.

• Retrospectively with cumulative effect of initially applying the standard recognized at the date of initial application (cumulative catch-up approach)

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Mar 31, 2024

2.01 Summary of significant accounting policies

(A) Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on current/ non¬
current classification.

An asset is treated as current when it is:

Expected to be realised in normal operating cycle or within twelve months after the reporting
period

Held primarily for the purpose of trading, or

Cash or cash equivalents unless restricted from being exchanged or used to settle a liability
for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

It is expected to be settled in normal operating cycle or due to be settled within twelve
months after the reporting period or

There is no unconditional right to defer the settlement of the liability for at least twelve
months after the reporting period

The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their
realization in cash and cash equivalents. The Company has identified period of twelve
months as its operating cycle.

(B) Significant accounting, judgments, estimates and assumptions

The preparation of the Company’s Financial Statements in conformity with Ind AS requires
management to make judgements, estimates and assumptions that affect the reported amounts
of assets and liabilities, the accompanying disclosures, and the disclosure of contingent assets
and contingent liabilities on the date of the standalone financial statements and the reported
amounts of revenues and expenses for the year reported. Actual results could differ from
those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the year in which the estimates are
revised and future periods are affected.

Key source of estimation of uncertainty as at the date of financial statements, which may
cause a material adjustment to the carrying amounts of assets and liabilities within the next
financial year, is in respect of the following:

Investment in equity shares:

The Company is exposed to equity price risk from investments in equity securities measured
at fair value through profit and loss. The Management monitors the proportion of equity
securities in its investment portfolio based on market indices. Material investments within the
portfolio are managed on an individual basis and all buy and sell decisions are approved by
the Board of Directors.

Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash generating unit (“CGU”)
exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and
its value in use. The fair value less costs of disposal calculation is based on available data
from binding sales transactions, conducted at arm’s length, for similar assets or observable
market prices less incremental costs for disposing of the asset. The value in use calculation is
based on a discounted cash flow (“DCF”) model. The cash flows are derived from the budget
for future years and do not include restructuring activities that the Company is not yet
committed to or significant future investments that will enhance the asset’s performance of
the CGU being tested. The recoverable amount is sensitive to the discount rate used for the
DCF model as well as the expected future cash-inflows and the growth rate used for
extrapolation purposes.

Impairment of financial assets

The Company assesses impairment of financial assets (‘Financial instruments’) and
recognises expected credit losses in accordance with Ind AS 109. The Company provides for
impairment of trade receivables and unbilled revenue outstanding for more than 1 year from
the date they are due for payment and billing respectively. The Company also assesses for
impairment of financial assets on specific identification basis at each period end.

Impairment exists when there is a diminution in value of the investment and the recoverable
value of such investment is lower than the carrying value of such investment.

(C) Property pant and Equipments

Property, Plant and Equipment is stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any. Cost comprises of purchase price inclusive of taxes
etc. up to the date the asset is ready for its intended use. Depreciation is provided under
written down value method at the rates and in the manner prescribed under Schedule II to the
Companies Act, 2013. Company not having any assets.

(D) Depreciation Tangible Fixed Assets.

Depreciation on fixed assets is calculated on a written down value method at based on the
useful lives estimated by the management, or those prescribed under the Schedule II of the
Companies Act, 2013, The company not having any PPE as on dated 31.03.2024. Company
not having any assets.

(E) Intangible Assets

Intangible Assets with finite useful lives that are acquired separately are stated at acquisition
cost, net of recoverable taxes, trade discount and rebate less accumulated amortisation and
accumulated impairment losses, if any. Such cost includes purchase price and any
expenditure directly attributable to bringing the asset to its working condition for the intended
use. Company not having any assets.

Subsequent cost is included in the asset’s carrying amount or recognized as a separate asset,
as appropriate, only when it is probable that future economic benefits associated with the
item will flow to the Company and the cost of the item can be measured reliably.

An intangible asset is derecognised on disposal, or when no future economic benefits are
expected from use or disposal. Gains or losses arising from derecognition of an intangible
asset, measured as the difference between the net disposal proceeds and the carrying amount
of the asset, are recognised in profit or loss when the asset is derecognised.

Intangible assets are amortized over their respective individual estimated useful lives on a
straight- line basis from date they are available for use. The estimated useful life of an
identifiable intangible asset is based on number of factors including the effect of obsolesce,
demand, competition and other economic factors and level of maintenance expenditures
required to obtain the expected future cash flows from the assets.

(F) Borrowing Costs

Borrowing cost includes interest, amortization of ancillary costs incurred in connection with
the arrangement of borrowings and exchange differences arising from foreign currency
borrowings to the extent they are regarded as an adjustment to the interest cost.

Borrowing costs directly attributable to the acquisition, construction or production of an 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 respective asset. All other borrowing costs are expensed
in the period they occur.

(G) Impairment of non-financial assets

For the purposes of assessing impairment, assets are grouped at the lowest levels for which
there are separately identifiable cash flows (cash generating units). As a result, some assets
are tested individually for impairment and some are tested at the cash generating unit level.
All individual assets or cash generating units are tested for impairment whenever events or
changes in circumstances indicate that the carrying amount may not be recoverable.

The carrying amounts of assets are reviewed at each balance sheet date to determine if there
is any indication of impairment based on external or internal factors. An impairment loss is
recognised wherever the carrying amount of an asset exceeds its recoverable amount which
represents the greater of the net selling price of assets and their ‘value in use’ in credit risk.
Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting
date, right from its initial recognition.

For recognition of impairment loss on other financial assets and risk exposure, the Company
determines that whether there has been a significant increase in the credit risk since initial
recognition. If credit risk has not increased significantly, 12-month ECL is used to provide
for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used.
If, in a subsequent period, credit quality of the instrument improves such that there is no
longer a significant increase in credit risk since initial recognition, then the entity reverts to
recognising impairment loss allowance based on 12-month ECL.

Life time ECL are the expected credit losses resulting from all possible default events over
the expected life of a financial instrument. The 12-month ECL is a portion of the lifetime
ECL which results from default events that are possible within 12 months after the reporting
date.

ECL is the difference between all contractual cash flows that are due to the Company in
accordance with the contract and all the cash flows that the entity expects to receive (i.e., all
cash shortfalls), discounted at the original EIR. When estimating the cash flows, an entity is
required to consider all contractual terms of the financial instrument (including prepayment,
extension, call and similar options) over the expected life of the financial instrument.
However, in rare cases when the expected life of the financial instrument cannot be estimated
reliably, then the entity is required to use the remaining contractual term of the financial
instrument.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as
income/ expense in the Statement of profit and loss. This amount is reflected under the head
‘other expenses’ in the Statement of profit and loss.

For assessing increase in credit risk and impairment loss, the Company combines financial
instruments on the basis of shared credit risk characteristics with the objective of facilitating
an analysis that is designed to enable significant increases in credit risk to be identified on a
timely basis

(H) Impairment of financial assets

In accordance with Ind. AS 109, the Company applies expected credit loss (ECL) model for
measurement and recognition of impairment loss on risk exposure arising from financial
assets like debt instruments measured at amortised cost e.g., trade receivables and deposits.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on
Trade receivables or contract revenue receivables. The application of simplified approach
does not require the Company to track changes Purchase price is assigned using a weighted
average basis. Net realizable value is defined as anticipated selling price or anticipated
revenue less cost to completion.

(I) Investments in subsidiaries, Associates and Joint Ventures: Not applicable

(J) Inventories

Consumables, stores and spares are valued at lower of cost computed on weighted average
basis or net realisable value after providing cost of obsolescence, if any. The cost of
inventories comprises cost of purchase and other costs incurred in bringing the inventories to
their present location and condition. Net realisable value is estimated selling price in ordinary
course of business less the estimated cost necessary to make the sale.

(K) Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to
the company and the revenue can be reliably measured. The following specific recognition
criteria must also be met before revenue is recognized:

/.Revenue from sale of services

Revenue from sale of services is recognised as and when the services agreed are
rendered, net of discount to the customers and amount collected on behalf of third
parties such as Goods and service tax and VAT.

//. Revenue from Sale of goods

Revenue from sales of goods is measured at the fair value of the consideration received
or receivable excluding taxes or duties collected on behalf of the government.
ii7. Interest

Interest income is recognized on a time proportion basis taking into account the
amount outstanding and the applicable interest rate. Interest income is included under
the head “other income” in the statement of profit and loss.

(L) Taxes

Tax expense comprises of current and deferred tax.

Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered
from or paid to the taxation authorities in accordance with the Income-tax Act, 1961. The tax
rates and tax laws used to compute the amount are those that are enacted or substantively
enacted, at the reporting date.

Current income tax relating to items recognised outside profit and loss is recognised outside
profit and loss (either in other comprehensive income or in equity). Current tax items are
recognised in correlation to the underlying transaction either in OCI or directly in equity.
Management periodically evaluates positions taken in the tax returns with respect to
situations in which applicable tax regulations are subject to interpretation and establishes
provisions where appropriate. Tax liability under Minimum Alternate Tax (“MAT”) is
considered as current tax. MAT entitlement is considered as deferred tax.

Minimum Alternative Tax (“MAT”) credit is recognised 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 convincing evidence
to the effect that the Company will pay normal income tax during the specified period.

Deferred tax

Deferred tax is provided using the liability method on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial reporting purposes at
the reporting date.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

When the deferred tax liability arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects
neither the accounting profit nor taxable profit or loss.

In respect of taxable temporary differences associated with investments in subsidiaries when
the timing of the reversal of the temporary differences can be controlled and it is probable
that the temporary differences will not reverse in the foreseeable future

Deferred tax assets are recognised for all deductible temporary differences and the carry
forward of any unused tax losses. Deferred tax assets are recognised to the extent that it is
probable that taxable profit will be available against which the deductible temporary
differences, and the carry forward of unused tax losses can be utilised, except:

When the deferred tax asset relating to the deductible temporary difference arises from the
initial recognition of an asset or liability in a transaction that is not a business combination
and, at the time of the transaction, affects neither the accounting profit nor taxable profit or
loss

In respect of deductible temporary differences associated with investments in subsidiaries
deferred tax assets are recognised only to the extent that it is probable that the temporary
differences will reverse in the foreseeable future and taxable profit will be available against
which the temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to
the extent that it is no longer probable that sufficient taxable profit will be available to allow
all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are re¬
assessed at each reporting date and are recognised to the extent that it has become probable
that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in
the year when the asset is realised or the liability is settled, based on tax rates (and tax laws)
that have been enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognised outside profit and loss is recognised outside profit
and loss (either in OCI or in equity). Deferred tax items are recognised in correlation to the
underlying transaction either in OCI or directly in equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to
set off current tax assets against current tax liabilities and the deferred taxes relate to the same
taxable entity and the same taxation authority.

(M) Foreign Currency Translation

Transactions in foreign currencies are translated at the rates of exchange prevailing on the
dates of the transactions. Monetary assets and liabilities in foreign currencies are translated at
the prevailing rates of exchange at the balance sheet date. Non-monetary items that are
measured at historical cost in a foreign currency are translated at the exchange rate at the date

of the transaction. Non-monetary items that are measured at fair value in a foreign currency
are translated using the exchange rates at the date when the fair value was determined.

Any exchange differences arising on the settlement of monetary items or on translating
monetary items at rates different from those at which they were initially recorded are
recognized in the Statement of profit and loss in the period in which they arise. Non¬
monetary items carried at fair value that are denominated in foreign currencies are translated
at rates prevailing at the date when the fair value was determined. Non-monetary items that
are measured in terms of historical cost in a foreign currency are not retranslated.

The Company’s functional currency and the presentation currency is same i.e. Indian Rupee.

(N) Retirement and Other Employee Benefits

Company doesn’t have any employee who has completed 5 years of continues services for
provision for gratuity and other benefits. And Contributions payable by the Company to the
concerned government authorities in respect of provident fund, family pension fund and
employee state insurance are charged to the profit and loss account if any.

(O) Segment reporting

The company''s business activity falls within a single primary segment the disclosure
requirements of Indian Accounting Standard (‘Ind AS-108’) "Operating segment is not
applicable.

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Mar 31, 2014

The Company adopts the accrual concept of accounting based on historical cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

1.1 REVENUE RECOGNITION :

a) Sales are recognised on the date of despatches made.

b) Interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other Incomes are recorded on the basis of certainty.

1.2 FIXED ASSETS: -

Fixed Assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

1.3 DEPRECIATION :-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XIV of the Companies Act, 1956.

1.4 INVESTMENTS :-

Long Term Investment are stated at cost. No provision for dimunition in the value of investments have been provided as such dimunition is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. All monetary assets held in foreign currency are carried to balance sheet at closing rate.

1.6 INVENTORIES

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of stock.

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period. Defferred tax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods. Defferred Tax Assets on carry forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Defferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT :-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

1.9 PAYMENT TO AUDITORS :-

As On 31.03.14 As On 31.03.13

a) As Audit Fees 10,000/- 10,000/-

b) Other matters 15,000/- 15,000/-

c) Service Tax 3,090/- 3,090/-

28,090/- 28,090/-

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Mar 31, 2013

1.1 REVENUE RECOGNITION :

a) Sales are recognised on the date of despatches made.

b) Interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other Incomes are recorded on the basis of certainty.

1.2 FIXED ASSETS: -

Fixed Assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

1.3 DEPRECIATION :-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XIV of the Companies Act, 1956.

1.4 INVESTMENTS :-

Long Term Investment are stated at cost. No provision for dimunition in the value of investments have been provided as such dimunition is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. All monetary assets held in foreign currency are carried to balance sheet at closing rate.

1.6 INVENTORIES :-

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of stock

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period Defferred tax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods Defferred Tax Assets on carry forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Defferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT :-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

---

Mar 31, 2012

The Company adopts the accrual concept of accounting based on historical cost historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

1.1 REVENUE RECOGNITION:

a) Sales are recognised on the date of despatches made.

b) Interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other Incomes are recorded on the basis of certainty.

1.2 FIXED ASSETS: -

Fixed Assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

1.3 DEPRECIATION:-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XIV of the Companies Act, 1956.

1.4 INVESTMENTS:-

Long Term Investment are stated at cost. No provision for dimunition in the value of investments have been provided as such dimunition is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS:-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. All monetary assets held in foreign currency are carried to balance sheet at closing rate.

1.6 INVENTORIES:-

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of stock.

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period. Deferred tax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods. Deferred Tax Assets on carry forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Deferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT:-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

---

Mar 31, 2011

1. ACCOUNTING POLICIES:

The Company adopts the accrual concept of accounting based on historical cost historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

1.1 REVENUE RECOGNITION :

a) Sales are recognised on the date of despatches made.

b) Interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other Incomes are recorded on the basis of certainty.

1.2 FIXED ASSETS: -

Fixed Assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

1.3 DEPRECIATION :-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XIV of the Companies Act, 1956.

1.4 INVESTMENTS:-

Long Term Investment are stated at cost. No provision for diminution in the value of investments have been provided as such diminution is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. AH monetary assets held in foreign currency are carried to balance sheet at closing rate.

1.6 INVENTORIES:-

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of stock.

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period. Deferred tax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods. Deferred Tax Assets on carry forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Deferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT :-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

---

Mar 31, 2010

The Company adopts the accrual concept of accounting based on historical cost historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

1.1 REVENUE RECOGNITION :

a) Sales are recognised on the date of despatches made.

b) Interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other Incomes are recorded on the basis of certainly.

1.2 FIXED ASSETS: -

Fixed Assets are-statedat cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

1.3 DEPRECIATION:-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XIV of the Companies Act, 1956.

1.4 INVESTMENTS :-

Long Term Investment are stated at cost. No provision for dimunition in the value of investments have been provided as such dimunition is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. All monetary assets held in foreign currency are carried to balance sheet at closing rate.

1.6 INVENTORIES:-

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of slock.

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period. Defferred lax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods. Defferred Tax Assets on carry forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Defferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT:-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

---

Mar 31, 2009

1. ACCOUNTING POLICIES:

The Company adopts the accrual concept of accounting based on historical cost historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

1.1 REVENUE RECOGNITION:

a) Sales are recognised on the date of despatches made.

b) Interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other Incomes are recorded on the basis of certainty.

1.2 FIXED ASSETS: -

Fixed Assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

1.3 DEPRECIATION:-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XTV of the Companies Act, 1956.

1.4 INVESTMENTS:-

Long Term Investment are stated at cost. No provision for dimunition in the value of investments have been provided as such dimunition is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS:-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. All monetary assets held in foreign currency are carried to balance sheet at closing rate.

1-6 INVENTORIES:-

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of stock.

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period. Defferred tax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods. Defferred Tax Assets on carry forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Defferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT:-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

---

Mar 31, 2008

1. ACCOUNTING POLICIES:

The Company adopts the accrual concept of accounting based on historical cost historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

1.1 REVENUE RECOGNITION :

a) Sales are recognised on the date of despatches made.

b) Interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other Incomes are recorded on the basis of certainty.

1.2 FIXED ASSETS: -

Fixed Assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

1.3 DEPRECIATION :-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XIV of the Companies Act 1956.

1.4 INVESTMENTS:-

Long Term Investment are stated at cost. No provision for dimunition in the value of investments have been provided as such dimunition is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. All monetary assets held in foreign currency are carried to balance sheet at closing rate.

1.6 INVENTORIES:-

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of stock.

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period. Defferred tax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods. Defferred Tax Assets on carry forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Defferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT:-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

---

Mar 31, 2006

1 ACCOUNTING POLICIES:

The Company adopts the accrual concept of accounting based on historical cost historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

1.1 REVENUE RECOGNITION :

a) Sales are recognised on the date of despatches made.

b) interest is recognised on time proportionate basis taking into account the amount outstanding and the rate applicable.

c) Dividend income is recognised when the right to receive is established.

d) Other incomes are recorded on the basis of certainty.

1.2 FIXED ASSETS:-

Fixed Assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use

1.3 DEPRECIATION :-

Depreciation on fixed assets is provided on Written Down method at the rates and in the manner specified in the schedule XIV of the Companies Act, 1955.

1.4 INVESTMENTS :-

Long Term investment are stated at cost. No provision for dimunition in the value of investments have been provided as such dimunition is viewed as temporary in nature.

1.5 TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions denominated in foreign currency are recorded at the rate exchange in force at the date of transactions. Any difference arising due to subsequent realization is carried to Profit & Loss Account. All monetary assets held in foreign currency are carried to balance sheet at closing rate.

1.6 INVENTORIES :-

Inventories are valued at lower of cost or realisable value. The cost includes cost of purchase specifically identified to individual items of stock.

1.7 TAXES ON INCOME

Current Tax is determined as the amount of tax payable in respect of taxable income for the period. Defferred tax is recognised subject to the consideration of prudence on timing difference, being the difference between taxable income and accounting income that originates in one period and is capable of reversal in one or more subsequent periods Defferred Tax Assets on carry/forward long term capital losses are recognised as there is reasonable certainty that sufficient long term capital gain will be available in future against which such Defferred Tax Assets can be realised.

1.8 RETIREMENT BENEFIT :-

The company contributes to recognised Provident Fund which is charged to revenue. The gratuity is provided on cash basis as the amount involved therein may not be significant.

1.9 PAYMENT TO AUDITORS :-

As 0n 31.03.06 As On 31.03.05

a) As Audit Fees 7500 7500

b) Other matters 12500 12500

c) Service Tax 2448 765

22448 20765

---

Mar 31, 2003

A) ACCOUNTING POLICIES:

The Company adopts the accrual concept of accounting based on historical Cost concept except in respect of Gratuity & Leave Liabilities which arc accounted for on cash basis.

1. REVENUE RECOGNITION :

Soles ore recognised on the date of despatches mode. Interest is recognised on time propotionate basis taking into account the amount outstanding and the rate applicable. Dividend income is recognised when &e right to receive is established.

2. FIXED ASSETS:- Fixed Assets are stated at cost.

3. DEPRECIATION :- Depreciation k provided on rrilieu down value method at the rates prescribed under the Companies Act, 1056. Depreciation oil Assets added/disposed during die year is provided with reference to (he date of addition/disposal.

4. INVESTMENTS :- Long Term Investment are stated at cost

5. TRANSLATION OF FOREIGN CURRENCY ITEMS: Translation of Foreign currency an recorded at the rate exchange in force at the date of transactions. "Foreign currency assets and liabilities other than for financing fixed assets are stated at the rate of exchange prevailing at the year end and resultant gain/losses are recognised in the profit & loss account. Balance in Loans and advances, sundry debtors accounts and sundry creditors accounts arc subject to confirmations and their cftcct if any, on Assets, Liabilities and Profit cannot do asecrtainable.

---

Mar 31, 2002

A) ACCOUNTING POLICIES:

The Company adopts the accrual concept of accounting based on historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

2. FIXED ASSETS:-

Fixed Assets are stated at cost.

3. DEPRECIATION:-

Depreciation is provided on written down value method at the rates prescribed under the Companies Act, 1956.

Depreciation on Assets added/disposed during the year is provided with reference to the date of addition/disposal.

4. INVESTMENTS:-

Long Term Investment are stated at cost.

5. TRANSLATION OF FOREIGN CURRENCY ITEMS:-

Transactions in foreign currency are recorded at the rate exchange in force at the date of transactions. Foreign currency assets and liabilities other than for financing fixed assets are stated at the rate of exchange prevailing at the year end and resultant gains/losses are recognised in the profit & loss account.

6. INVENORIES:-

Inventories are valued at lower of cost realisable value.

7. CONTIGENT LIABILITIES:-

Contingent Liabilities not provided for are disclosed by way of notes.

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Mar 31, 2000

A) ACCOUNTING POLICIES :

The Company adopts the accrual concept of accounting based on historical Cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

2. FIXED ASSETS :-

Fixed Assets are stated at cost.

3. DEPRECIATION :-

Depreciation is provided on written down value method at the rates prescribed under the Companies Act, 1956.

Depreciation on Assets added/disposed during me year is provided with reference to the date of addition/disposal.

4. INVESTMENTS :-

Long Term Investment are stated at cost

5. TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions in foreign currency are recorded at the rate exchange in force at the date of transactions.

Foreign currency assets and liabilities other man for financing fixed assets are stated at the rate of exchange prevailing at the year end and resultant gains/losses are recognised in the profit & loss account.

6. INVENTORIES :-

Inventories are valued at lower of cost or realisable value.

7. CONTIGENT LIABILITIES :-

Contigent Liabilities not provided for are disclosed by way of notes.

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Mar 31, 1999

1. METHOD OF ACCOUNTING :-

The company adopts the accrual concept of accounting based on historical cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

2. FIXED ASSETS :-

Fixed Assets are stated at cost.

3. DEPRECIATION :-

Depreciation is provided on written down value method at the rates prescribed under the Companies Act, 1956.

Depreciation on Assets added/disposed during the year is provided with reference to the date of addition/disposal.

4. INVESTMENTS :-

Long term Investment are stated at cost

5. TRANSLATION OF FOREIGN CURRENCY ITEMS :-

Transactions in foreign currency are recorded at the rate of exchange in force at the date of transactions.

Foreign currency assets and liabilities other than for financing fixed assets are stated at the rate of exchange prevailing at the year end and resultant gains/losses are recognised in the profit & loss account.

6. INVENTORIES :-

Inventories are valued at lower of cost or realisable value.

7. CONTINGENT LIABILITIES :-

Contingent Liabilities not provided for are disclosed by way of notes.

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Mar 31, 1998

A. ACCOUNTING POLICIES

1. METHOD OF ACCOUNTING

The company adopts the accrual concept of accounting based on historical cost concept except in respect of Gratuity & Leave Liabilities which are accounted for on cash basis.

2. FIXED ASSETS :

Fixed Assets are stated at cost.

3. DEPRECATION :

Depreciation is provided on written down value method at the rates prescribed under the Companies Act, 1956.

Depreciation on Assets added/disposed during the year is provided with reference to the date of addition/disposal.

4. INVESTMENTS :-

Long term Investment are stated at cost.

5. TRANSLATION OF FOREIGN CURRENCY ITEMS :

Transactions in foreign currency are recorded at the rate of exchange in force at the date of transactions.

Foreign currency assets and liabilities other than for financing fixed assets are stated at the rate of exchange prevailing at the year end and resultant gains/losses are recognised in the profit & loss account.

5. INVENTORIES :

Inventories are valued at lower of cost or realisable value.

6. CONTINGENT LIABILITIES :

Contingent Liabilities not provided for are disclosed by way of notes.

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Mar 31, 1997

Information will not be available in the annual report.

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Mar 31, 1993

1. ACCOUNTING CONCEPTS

The Company follows the Mercantile System of Accounting and recognises Income and Expenditure on Accrual basis.

The Accounts are prepared on historical cost basis and as a going concern. Accounting Policies not referred to otherwise are consistent with generally accepted accounting principles.

2. FIXED ASSETS

a) Fixed Assets are stated at cost less depreciation.

b) Depreciation on fixed assets is provided on reducing balance method at rates specified in Schedule XIV of the Companies Act, 1956.

3. TRANSLATION OF FOREIGN CURRENCY ITEMS

Foreign Currency assets are restated at the exchange rates ruling at the year end.

4. INVESTMENTS

a) Investments are stated at cost.

b) In case of securities purchased/sold cum interest, the entire payment/receipt of consideration is treated as cost/sale proceeds, as the case may be.

5. PROVISION FOR RETIREMENT BENEFITS

a) Liability in respect of Gratuity to employees is accounted for as and when paid.

b) Leave liabilities is accounted for when the employees proceed on leave or at the time of encashment.

6. INVENTORIES

Inventories are stated at cost or realisable value whichever is less.

7. PROVISION FOR BAD AND DOUBTFUL DEBTS/ADVANCES

Provision is made in the accounts for Bad and Doubtful Debts/advances which in the opinion of the Management are considered irrecoverable.

8. INSURANCE CLAIMS

Insurance claims shall be accounted for on receipt basis.

9. REVENUE RECOGNITION

Revenue in respect of Interest/Lease Rent is recognised only when it is reasonably certain that the ultimate collection will be made.

10. INFLATION

Assets and Liabilities are recorded at historical cost to the company. These costs are not adjusted to reflect the change in the purchasing power of money.