Silicon Valley Infotech Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

1. Company Overview

Silicon Valley Infotech Limited (CIN : L15311WB1993PLC061312) was incorporated in the year 1993 having its Registered Office of the Company is at 10, Princep Street, 2nd Floor, Kolkata - 700 072. and is carrying on the business of trading and investment in shares and securities and providing loans.

The equity shares of the Company is listed on The Calcutta Stock Exchange Limited.

2. Significant Accounting Policies

The company applies Indian Accounting Standards (IND AS) in preparing and presenting general purpose financial statements. It has also followed RBI guidelines and announcements issued by the Institute of Chartered Accountants of India.

A. Basis of Preparation

(i) The financial statements are prepared in accordance with and in compliance, in all material aspect with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act,2013 (the Act) read along with Companies (Indian Accounting Standards) Rules, 2015 as amended by Companies (Indian Accounting Standards Amendment Rules, 2016 and other relevant provision of the Act.

Fair value measurements under Ind AS are categorized into Level 1,2, or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety.

(ii) All the amounts included in Financial Statements are reported in Indian Rupees in Lacs.

B. Use of Estimates

The preparation of financial statements in accordance with IND AS requires use of estimates and assumptions for some items, which might have an effect on their recognition and measurement in the balance sheet and statement of profit and loss. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The actual results may differ from these estimates. The Company''s management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Any revision to the accounting estimates is recognized prospectively in the current and future periods.

2.1 Presentation of True and Fair View and compliance with IND AS

Financial statements present a true and fair view of the financial position, financial performance and cash flows of the company. Presentation of true and fair view requires the faithful representation of the effects of transactions, other events and conditions in accordance with the definitions and recognition criteria for assets, liabilities, income and expenses set out in the Framework. The application of IND AS, with additional disclosure when necessary, is presumed to result in financial statements that present a true and fair view.

Financial statements comply with IND AS explicitly and without any reservation.

2.2 Going concern

The Company prepares its financial statements on a going concern.

2.3 Accrual basis of accounting

The Financial Statements have been prepared under the historical cost convention on accrual basis, except for Certain financial assets and liabilities that are measured at fair values at the end of each reporting period

2.4 Materiality and aggregation

The Company presents separately each material class of similar items. It presents separately items of a dissimilar nature or function unless they are immaterial except when required by law.

2.5 Offsetting

The Company do not offset assets and liabilities or income and expenses, unless required or permitted by an IND AS.

2.6 Minimum comparative information

Except when IND ASs permit or require otherwise, the company presents comparative information in respect of the preceding period for all amounts reported in the current period''s financial statements. It also includes comparative information for narrative and descriptive information if it is relevant to understanding the current period''s financial statements.

2.7 Other comprehensive income

Other Comprehensive Income comprises items of income and expenses (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IND AS. The components of other comprehensive income include: (a) changes in revaluation surplus; (b) reameasurements of defined benefit plans; gains and losses from investments in equity instruments designated at fair value.

2.8 Accounting Policies, Changes in Accounting Estimates and Errors

In the absence of an IND AS that specifically applies to a transaction, other event or condition, management shall use its judgement in developing and applying an accounting policy that results in information that is: (a) relevant to the economic decision-making needs of users; and (b) reliable, in that the financial statements: (i) represent faithfully the financial position, financial performance and cash flows of the entity; (ii) reflect the economic substance of transactions, other events and conditions, and not merely the legal form; (iii) are neutral, i.e. free from bias; (iv) are prudent; and (v) are complete in all material respects.

(i) Changes in accounting policies

The Company will change an accounting policy only if the change: (a) is required by an IND AS; or (b) results in the financial statements providing reliable and more relevant information about the effects of

transactions, other events or conditions on the entity''s financial position, financial performance or cash flows.

The Company has corrected all material prior period errors retrospectively in the first set of financial statements approved for issue after their discovery by: (a) restating the comparative amounts for the prior period(s) presented in which the error occurred; or (b) if the error occurred before the earliest prior period presented, restating the opening balances of assets, liabilities and equity for the earliest prior period presented.

(ii) Events after the Reporting Period

The Company will adjust the amounts recognised in its financial statements to reflect adjusting events after the reporting period. The Company will not adjust the amounts recognised in its financial statements to reflect non-adjusting events after the reporting period. If the company declares dividends to holders of equity instruments after the reporting period, it will not recognise those dividends as a liability at the end of the reporting period. If the company receives information after the reporting period about conditions that existed at the end of the reporting period, it shall update disclosures that relate to those conditions, in the light of the new information. If non-adjusting events after the reporting period are material, nondisclosure could influence the economic decisions that users make on the basis of the financial statements. Accordingly, it will disclose the following for each material category of non-adjusting event after the reporting period: (a) the nature of the event; and (b) an estimate of its financial effect, or a statement that such an estimate cannot be made.

(v) Measurement of Fair Values.

Fair value is defined as 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.

Disclosure is given for assets and liabilities that are measured at fair value on a recurring or nonrecurring basis in the balance sheet after initial recognition, the valuation techniques and inputs used to develop those measurements and for recurring fair value measurements using significant unobservable inputs, the effect of the measurements on profit or loss or other comprehensive income for the period.

(vi) Inventories

Inventories shall be measured at the lower of cost and net realisable value. The cost of inventories shall comprise all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.

The cost of inventories shall be assigned by using the first-in, first-out (FIFO) or weighted average cost formula. Same cost formula for all inventories having a similar nature and use to the entity has been used.

When inventories are sold, the carrying amount of those inventories is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of inventories to net realisable value and all losses of inventories is recognised as an expense in the period the write-down or loss occurs. The amount of any reversal of any write-down of inventories, arising from an increase in net

realisable value, is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

(vii) Revenue Recognition.

Revenue will be recognised when the parties to the contract have approved the contract (in writing, orally or in accordance with other customary business practices) and are committed to perform their respective obligations; each party''s rights regarding the goods or services to be transferred is identified ;payment terms for the goods or services to be transferred is identified; the contract has commercial substance; and it is probable that the company will collect the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. In evaluating whether collectability of an amount of consideration is probable, company shall consider only the customer''s ability and intention to pay that amount of consideration when it is due. The amount of consideration to which company will be entitled may be less than the price stated in the contract if the consideration is variable because the company may offer the customer a price concession.

The company shall recognise revenue when it satisfies a performance obligation by transferring a promised good or service (i.e. an asset) to a customer. An asset is transferred when the customer obtains control of that asset.

When a performance obligation is satisfied, company shall recognise as revenue the amount of the transaction price that is allocated to that performance obligation.

A gain or loss on a financial asset or financial liability that is measured at fair value shall be recognised in profit or loss.

Dividends are recognised in profit or loss only when :(a) the company''s right to receive payment of the dividend is established;(b) it is probable that the economic benefits associated with the dividend will flow to the company; and (c) The amount of the dividend can be measured reliably.

(viii) Property, Plant and Equipment (PPE)

The cost of an item of property, plant and equipment shall be recognised as an asset if, and only if: (a) it is probable that future economic benefits associated with the item will flow to the company; and (b) the cost of the item can be measured reliably. Under the recognition principle , an entity recognises in the carrying amount of an item of property, plant and equipment the cost of replacing part of such an item when that cost is incurred if the recognition criteria are met.

The carrying amount of an item of property, plant and equipment is derecognised : (a) on disposal; or (b) when no future economic benefits are expected from its use or disposal. The gain or losses arising from derecognition of an item of property, plant and equipment shall be included in profit or loss when the item is derecognised.

Depreciation is recognised to write off the cost of assets less their residual values over their useful lives, using the Straight Line method.

(x) Impairment of Assets

Company shall assess at the end of each reporting period whether there is any indication that an asset may be impaired. If any such indication exists, the company shall estimate the recoverable amount of the asset. If, and only if, the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset shall be reduced to its recoverable amount. That reduction is an impairment loss. After the recognition of an impairment loss, the depreciation (amortisation) charge for the asset is adjusted in future periods to allocate the asset''s revised carrying amount, less its residual value (if any), on a systematic basis over its remaining useful life.

(xi) Financial InstrumentRecognition and derecognition

The Company recognises a financial asset or a financial liability in its balance sheet when, and only when, it becomes party to the contractual provisions of the instrument. A regular way purchase or sale of financial assets shall be recognised and derecognised, as applicable, using trade date accounting or settlement date accounting.

The company will derecognise a financial asset when and only when: (a) the contractual rights to the cash flows from the financial asset expire, or (b) it transfers the financial asset as set out below and the transfer qualifies for derecognition.

(i) An entity transfers a financial asset if, and only if, it either: (a) transfers the contractual rights to receive the cash flows of 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 in an arrangement that meets the conditions.

(ii) When the company retains the contractual rights to receive the cash flows of a financial asset (the ‘original asset''), but assumes a contractual obligation to pay those cash flows to one or more entities (the ‘eventual recipients''), the company treats the transaction as a transfer of a financial asset if, and only if, all of the conditions are met like:(a) The entity has no obligation to pay amounts to the eventual recipients unless it collects equivalent amounts from the original asset. Short-term advances by the company with the right of full recovery of the amount lent plus accrued interest at market rates do not violate this condition.(b) The company is prohibited by the terms of the transfer contract from selling or pledging the original asset other than as security to the eventual recipients for the obligation to pay them cash flows.(c) The company has an obligation to remit any cash flows it collects on behalf of the eventual recipients without material delay. In addition, the entity is not entitled to reinvest such cash flows, except for investments in cash or cash equivalents during the short settlement period from the collection date to the date of required remittance to the eventual recipients, and interest earned on such investments is passed to the eventual recipients.

(iii) Whenever the company transfers a financial asset it evaluates the extent to which it retains the risks and rewards of ownership of the financial asset. In this case: (a) if the company transfers substantially all the risks and rewards of ownership of the financial asset, the company derecognises the financial asset and recognise separately as assets or liabilities any rights and obligations created or retained in the transfer. (b) If the company retains substantially all the risks and rewards of ownership of the financial asset, it will continue to recognise the financial asset. (c) If the company neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset, the company determines whether it has retained control of the financial asset.

In this case : (i) If the company has not retained control, it shall derecognise the financial asset and recognise separately as assets or liabilities any rights and obligations created or retained in the transfer. (ii) If the company has retained control, it shall continue to recognise the financial asset to the extent of its continuing involvement in the financial asset.

Transfers that qualify for derecognition

(i) When the company transfers a financial asset in a transfer that qualifies for derecognition in its entirety and retains the right to service the financial asset for a fee, it recognises either a servicing asset or a servicing liability for that servicing contract. If the fee to be received is not expected to compensate the company adequately for performing the servicing, a servicing liability for the servicing obligation is recognised at its fair value. If the fee to be received is expected to be more than adequate compensation for the servicing, a servicing asset shall be recognised for the servicing right at an amount determined on the basis of an allocation of the carrying amount of the larger financial asset as stated in (iv) below.

(ii) If, as a result of a transfer, a financial asset is derecognised in its entirety but the transfer results in the entity obtaining a new financial asset or assuming a new financial liability, or a servicing liability, the company recognises the new financial asset, financial liability or servicing liability at fair value.

(iii) On derecognition of a financial asset in its entirety, the difference between: (a) the carrying amount (measured at the date of derecognition) and (b) the consideration received (including any new asset obtained less any new liability assumed) is recognised in profit or loss.

(iv) If the transferred asset is part of a larger financial asset (e.g. when the company transfers interest cash flows that are part of a debt instrument, and the part transferred qualifies for derecognition in its entirety, the previous carrying amount of the larger financial asset shall be allocated between the part that continues to be recognised and the part that is derecognised, on the basis of the relative fair values of those parts on the date of the transfer. For this purpose, a retained servicing asset shall be treated as a part that continues to be recognised. The difference between: (a) the carrying amount (measured at the date of derecognition) allocated to the part derecognised and (b) the consideration received for the part derecognised (including any new asset obtained less any new liability assumed) shall be recognised in profit or loss.

Transfers that do not qualify for derecognition

If a transfer does not result in derecognition because the entity has retained substantially all the risks and rewards of ownership of the transferred asset, the entity shall continue to recognise the transferred asset in its entirety and shall recognise a financial liability for the consideration received. In subsequent periods, the entity shall recognise any income on the transferred asset and any expense incurred on the financial liability.

Continuing involvement in transferred assets

When the company neither transfers nor retains substantially all the risks and rewards of ownership of a transferred asset, and retains control of the transferred asset, the company continues to recognise the transferred asset to the extent of its continuing involvement.

Derecognition of financial liabilities

An entity shall remove a financial liability (or a part of a financial liability) from its balance sheet when, and only when, it is extinguished—i.e. when the obligation specified in the contract is discharged or cancelled or expires.

Classification of financial assets

The Company will classify financial assets as subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit or loss on the basis of both: (a) the entity''s business model for managing the financial assets and (b) the contractual cash flow characteristics of the financial asset.

A financial asset shall be measured at amortised cost if both of the following conditions are met: (a) the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and (b) 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.

Classification of financial liabilities

An entity shall classify all financial liabilities as subsequently measured at amortised cost.

(xii) Non-Performing Assets & Write-off Policy

The company shall directly reduce the gross carrying amount of a financial asset when the entity has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. A write-off constitutes a derecognition event. Identification of Non-Performing Assets (NPAs) is being done as per the guidelines of Master Direction- Non Banking Financial Company -Non -Systemically Important Non- Deposit taking Company (Reserve Bank) Directions, 2016 prescribed by the Reserve Bank of India. The company is writing off NPAs in its books of accounts every year.

(xiii) Measurement of expected credit losses

The company has measured expected credit losses of a financial instrument in a way that reflects :(a) an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes;(b) the time value of money; and(c) reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions.

(xiv) Investments in equity instruments

At initial recognition, the company makes an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument within the scope of this Standard that is neither held for trading nor contingent consideration recognised by an acquirer in a business combination to which IND AS103 applies. Once it makes this election, it shall recognise in profit or loss dividends from that investment.

(xvi) Provisions, Contingent Liabilities and Contingent Assets

A provision shall be recognised when:

(a) The company has a present obligation (legal or constructive) as a result of a past event;

(b) It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and

(c) A reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision shall be the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The risks and uncertainties that inevitably surround many events and circumstances shall be taken into account in reaching the best estimate of a provision. Where the effect of the time value of money is material, the amount of a provision shall be the present value of the expenditures expected to be required to settle the obligation. Provisions is 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 is reversed.

Unless the possibility of any outflow in settlement is remote, the company will disclose for each class of contingent liability at the end of the reporting period a brief description of the nature of the contingent liability and, where practicable:

(a) An estimate of its financial effect,

(b) An indication of the uncertainties relating to the amount or timing of any outflow; and (c) the possibility of any reimbursement.

Where an inflow of economic benefits is probable, the company will disclose a brief description of the nature of the contingent assets at the end of the reporting period, and, where practicable, an estimate of their financial effect.

(xvii) Earnings per Share

The company will calculate basic earnings per share amounts for profit or loss attributable to ordinary equity holders and, if presented, profit or loss from continuing operations attributable to those equity holders. Basic earnings per share shall be calculated by dividing profit or loss attributable to ordinary equity holders (the numerator) by the weighted average number of ordinary shares outstanding (the denominator) during the period. The objective of basic earnings per share information is to provide a measure of the interests of each ordinary share in the performance of the company over the reporting period.

If the number of ordinary or potential ordinary shares outstanding increases as a result of a capitalisation, bonus issue or share split, or decreases as a result of a reverse share split, the calculation of basic and diluted earnings per share for all periods presented shall be adjusted retrospectively. If these changes

occur after the reporting period but before the financial statements are approved for issue, the per share calculations for those and any prior period financial statements presented shall be based on the new number of shares. The fact that per share calculations reflect such changes in the number of shares shall be disclosed. In addition, basic and diluted earnings per share of all periods presented shall be adjusted for the effects of errors and adjustments resulting from changes in accounting policies accounted for retrospectively.

(xviii) Employee Benefits.

Short-term employee benefits include items such as the following, if expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related services: (a) wages, salaries and social security contributions; (b) paid leave; (c) bonuses; and

(d) non-monetary benefits if any for current employees. When an employee has rendered service to the company during an accounting period, it recognises the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service: (a) as a liability (accrued expense), after deducting any amount already paid. If the amount already paid exceeds the undiscounted amount of the benefits, it recognises that excess as an asset (prepaid expense) to the extent that the prepayment will lead to, for example, a reduction in future payments or a cash refund.(b) as an expense. It will recognise the expected cost of bonus payments only when: (a) it has a present legal or constructive obligation to pay all future employee benifit realting to employee service in the current and prior periods. If it a present obligation exists when, and only when, the entity has no realistic alternative but to make the payments.

Post-employment benefits include items such as the following: (a) retirement benefits (lump sum payments on retirement i.e. gratuity); and (b) other post-employment benefits, such as leave encashment, terminal benefits. Arrangements whereby company provides post-employment benefits are post-employment benefit plans. It applies this Standard to all such arrangements whether or not they involve the establishment of a separate entity to receive contributions and to pay benefits.

Post-employment benefit plans are classified as either defined contribution plans or defined benefit plans, depending on the economic substance of the plan as derived from its principal terms and conditions.

Under defined contribution plans the company''s legal or constructive obligation is limited to the amount that it agrees to contribute to the fund. Thus, the amount of the post-employment benefits received by the employee is determined by the amount of contributions paid by the company (and perhaps also the employee) to a post-employment benefit plan or to an insurance company, together with investment returns arising from the contributions. In consequence, actuarial risk (that benefits will be less than expected) and investment risk (that assets invested will be insufficient to meet expected benefits) fall, in substance, on the employee. The company may pay insurance premiums to fund a postemployment benefit plan. The entity shall treat such a plan as a defined contribution plan unless the entity will have (either directly, or indirectly through the plan) a legal or constructive obligation either: (a) to pay the employee benefits directly when they fall due; or (b) to pay further amounts if the insurer does not pay all future employee benefits relating to employee service in the current and prior periods. If it retains such a legal or constructive obligation, it shall treat the plan as a defined benefit plan.

When an employee has rendered service to the company during a period, it shall recognise the contribution payable to a defined contribution plan in exchange for that service: (a) as a liability (accrued expense), after deducting any contribution already paid. If the contribution already paid exceeds the contribution due for service before the end of the reporting period, an entity shall recognise that excess as an asset (prepaid expense) to the extent that the prepayment will lead to, for example, a reduction in future payments or cash refund. (b) as an expense. When contributions to a defined contribution plan are not expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service, they shall be discounted using the discount rate.

Accounting by an entity for defined benefit plans involves the following steps: (a) determining the deficit or surplus. (b) Determining the amount of the net defined benefit liability (asset). (c) Determining amounts to be recognised in profit or loss :(i) current service cost (ii) any past service cost and gain or loss on settlement (iii) net interest on the net defined benefit liability (asset). (d) Determining the reameasurements of the net defined benefit liability (asset), to be recognised in other comprehensive income, comprising: (i) actuarial gains and losses;(ii) return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset) ; and (iii) any change in the effect of the asset ceiling , excluding amounts included in net interest on the net defined benefit liability (asset).

The company will account not only for its legal obligation under the formal terms of a defined benefit plan, but also for any constructive obligation that arises from its informal practices. Informal practices give rise to a constructive obligation where it has no realistic alternative but to pay employee benefits.

The company recognises the net defined benefit liability (asset) in the balance sheet. When the company has a surplus in a defined benefit plan, it shall measure the net defined benefit asset at the lower of: (a) the surplus in the defined benefit plan; and (b) the asset ceiling, determined using the discount rate

The company uses the projected unit credit method to determine the present value of its defined benefit obligations and the related current service cost and, where applicable, past service cost.

(xix) Income Taxes

Deferred tax assets are the amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carry forward of unused tax losses; and (c) the carry forward of unused tax credits.

Current tax for current and prior periods shall, to the extent unpaid, be recognised as a liability. If the amount already paid in respect of current and prior periods exceeds the amount due for those periods, the excess shall be recognised as an asset.

Current and deferred tax is recognised as income or an expense and included in profit or loss for the period, except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, outside profit or loss, either in other comprehensive income or directly in equity. Current tax and deferred tax shall be recognised outside profit or loss if the tax relates to items that are recognised, in the same or a different period, outside profit or loss. Therefore, current tax and deferred tax that relates to items that are recognised, in the same or a different period: (a) in other comprehensive income, shall be recognised in other comprehensive income (b) directly in equity, shall

be recognised directly in equity.

(xxi) Mandatory Exemptions adopted by the Company

i. De recognition of financial assets and financial liabilitiesThe Company shall apply the derecognition requirements in IND AS 109 prospectively for transactions occurring on or after the date of transition to IND ASs.

ii. Classification and measurement of financial assets The Company shall assess whether a financial asset meets the conditions of IND AS 109 on the basis of the facts and circumstances that exist at the date of transition to IND AS.

iii. Impairment of financial assets

The Company shall apply the impairment requirements of IND AS 109 retrospectively subject to exemptions provided in IND AS 101.

(xxii) Optional Exemptions Availed by the Company Deemed cost

The Company elects to continue with the carrying value for all of its property, plant and equipment as recognised in the financial statements as at the date of transition to IND ASs, measured as per the previous GAAP and use that as its deemed cost as at the date of transition. Hence, no further adjustments to the deemed cost of the property, plant and equipment so determined in the opening balance sheet shall be made for transition adjustments that might arise from the application of other IND ASs. This option is also be availed for intangible assets covered by IND AS 38, Intangible Assets and investment property covered by IND AS 40, Investment Property.

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Mar 31, 2024

SIGNIFICANT ACCOUNTING POLICIES

1. Company Overview

Silicon Valley Infotech Limited (CIN : L15311WB1993PLC061312) was incorporated in the year
1993 having its Registered Office of the Company is at 10, Princep Street, 2nd Floor, Kolkata - 700
072. and is carrying on the business of trading and investment in shares and securities and providing
loans.

The equity shares of the Company is listed on The Calcutta Stock Exchange Limited.

2. Significant Accounting Policies

The company applies Indian Accounting Standards (IND AS) in preparing and presenting general
purpose financial statements. It has also followed RBI guidelines and announcements issued by
the Institute of Chartered Accountants of India.

A. Basis of Preparation

(i) The financial statements are prepared in accordance with and in compliance, in all material aspect
with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act,2013
(the Act) read along with Companies (Indian Accounting Standards) Rules, 2015 as amended by
Companies (Indian Accounting Standards Amendment Rules, 2016 and other relevant provision of
the Act.

Fair value measurements under Ind AS are categorized into Level 1,2, or 3 based on the degree to
which the inputs to the fair value measurements are observable and the significance of the inputs to
the fair value measurement in its entirety.

(ii) All the amounts included in Financial Statements are reported in Indian Rupees in Lacs.

B. Use of Estimates

The preparation of financial statements in accordance with IND AS requires use of estimates and
assumptions for some items, which might have an effect on their recognition and measurement in the
balance sheet and statement of profit and loss. The estimates and associated assumptions are based
on historical experience and other factors that are considered to be relevant. The actual results may
differ from these estimates. The Company''s management believes that the estimates used in preparation
of the financial statements are prudent and reasonable. Any revision to the accounting estimates is
recognized prospectively in the current and future periods.

2.1 Presentation of True and Fair View and compliance with IND AS

Financial statements present a true and fair view of the financial position, financial performance and
cash flows of the company. Presentation of true and fair view requires the faithful representation of the
effects of transactions, other events and conditions in accordance with the definitions and recognition
criteria for assets, liabilities, income and expenses set out in the Framework. The application of IND AS,
with additional disclosure when necessary, is presumed to result in financial statements that present a
true and fair view.

Financial statements comply with IND AS explicitly and without any reservation.

2.2 Going concern

The Company prepares its financial statements on a going concern.

2.3 Accrual basis of accounting

The Financial Statements have been prepared under the historical cost convention on accrual basis,
except for Certain financial assets and liabilities that are measured at fair values at the end of each
reporting period

2.4 Materiality and aggregation

The Company presents separately each material class of similar items. It presents separately items of
a dissimilar nature or function unless they are immaterial except when required by law.

2.5 Offsetting

The Company do not offset assets and liabilities or income and expenses, unless required or permitted
by an IND AS.

2.6 Minimum comparative information

Except when IND ASs permit or require otherwise, the company presents comparative information in
respect of the preceding period for all amounts reported in the current period''s financial statements. It
also includes comparative information for narrative and descriptive information if it is relevant to
understanding the current period''s financial statements.

2.7 Other comprehensive income

Other Comprehensive Income comprises items of income and expenses (including reclassification
adjustments) that are not recognised in profit or loss as required or permitted by other IND AS. The
components of other comprehensive income include: (a) changes in revaluation surplus; (b)
reameasurements of defined benefit plans; gains and losses from investments in equity instruments
designated at fair value.

2.8Accounting Policies, Changes in Accounting Estimates and Errors

In the absence of an IND AS that specifically applies to a transaction, other event or condition, management
shall use its judgement in developing and applying an accounting policy that results in information that
is: (a) relevant to the economic decision-making needs of users; and (b) reliable, in that the financial
statements: (i) represent faithfully the financial position, financial performance and cash flows of the
entity; (ii) reflect the economic substance of transactions, other events and conditions, and not merely
the legal form; (iii) are neutral, i.e. free from bias; (iv) are prudent; and (v) are complete in all material
respects.

(i) Changes in accounting policies

The Company will change an accounting policy only if the change: (a) is required by an IND AS; or (b)
results in the financial statements providing reliable and more relevant information about the effects of
transactions, other events or conditions on the entity''s financial position, financial performance or cash
flows.

The Company has corrected all material prior period errors retrospectively in the first set of financial
statements approved for issue after their discovery by: (a) restating the comparative amounts for the
prior period(s) presented in which the error occurred; or (b) if the error occurred before the earliest prior
period presented, restating the opening balances of assets, liabilities and equity for the earliest prior
period presented.

(ii) Events after the Reporting Period

The Company will adjust the amounts recognised in its financial statements to reflect adjusting events
after the reporting period. The Company will not adjust the amounts recognised in its financial statements
to reflect non-adjusting events after the reporting period. If the company declares dividends to holders of
equity instruments after the reporting period, it will not recognise those dividends as a liability at the end
of the reporting period. If the company receives information after the reporting period about conditions
that existed at the end of the reporting period, it shall update disclosures that relate to those conditions,
in the light of the new information. If non-adjusting events after the reporting period are material, non¬
disclosure could influence the economic decisions that users make on the basis of the financial
statements. Accordingly, it will disclose the following for each material category of non-adjusting event
after the reporting period: (a) the nature of the event; and (b) an estied to reinvest such cash flows,
except for investments in cash or cash equivalents.

(v) Measurement of Fair Values.

Fair value is defined as 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.

Disclosure is given for assets and liabilities that are measured at fair value on a recurring or non¬
recurring basis in the balance sheet after initial recognition, the valuation techniques and inputs used to
develop those measurements and for recurring fair value measurements using significant unobservable
inputs, the effect of the measurements on profit or loss or other comprehensive income for the period.

(vi) Inventories

Inventories shall be measured at the lower of cost and net realisable value. The cost of inventories shall
comprise all costs of purchase, costs of conversion and other costs incurred in bringing the inventories
to their present location and condition.

The cost of inventories shall be assigned by using the first-in, first-out (FIFO) or weighted average cost
formula. Same cost formula for all inventories having a similar nature and use to the entity has been
used.

When inventories are sold, the carrying amount of those inventories is recognised as an expense in the
period in which the related revenue is recognised. The amount of any write-down of inventories to net
realisable value and all losses of inventories is recognised as an expense in the period the write-down or
loss occurs. The amount of any reversal of any write-down of inventories, arising from an increase in net
realisable value, is recognised as a reduction in the amount of inventories recognised as an expense in
the period in which the reversal occurs.

(vii) Revenue Recognition.

Revenue will be recognised when the parties to the contract have approved the contract (in writing, orally
or in accordance with other customary business practices) and are committed to perform their respective
obligations; each party''s rights regarding the goods or services to be transferred is identified ;payment
terms for the goods or services to be transferred is identified; the contract has commercial substance;
and it is probable that the company will collect the consideration to which it will be entitled in exchange
for the goods or services that will be transferred to the customer. In evaluating whether collectability of an
amount of consideration is probable, company shall consider only the customer''s ability and intention to
pay that amount of consideration when it is due. The amount of consideration to which company will be
entitled may be less than the price stated in the contract if the consideration is variable because the
company may offer the customer a price concession.

The company shall recognise revenue when it satisfies a performance obligation by transferring a promised
good or service (i.e. an asset) to a customer. An asset is transferred when the customer obtains control
of that asset.

When a performance obligation is satisfied, company shall recognise as revenue the amount of the
transaction price that is allocated to that performance obligation.

A gain or loss on a financial asset or financial liability that is measured at fair value shall be recognised
in profit or loss.

Dividends are recognised in profit or loss only when :(a) the company''s right to receive payment of the
dividend is established;(b) it is probable that the economic benefits associated with the dividend will flow
to the company; and (c) The amount of the dividend can be measured reliably.

(viii) Property, Plant and Equipment (PPE)

The cost of an item of property, plant and equipment shall be recognised as an asset if, and only if: (a)
it is probable that future economic benefits associated with the item will flow to the company; and (b) the
cost of the item can be measured reliably. Under the recognition principle , an entity recognises in the
carrying amount of an item of property, plant and equipment the cost of replacing part of such an item
when that cost is incurred if the recognition criteria are met.

The carrying amount of an item of property, plant and equipment is derecognised : (a) on disposal; or (b)
when no future economic benefits are expected from its use or disposal. The gain or losses arising from
derecognition of an item of property, plant and equipment shall be included in profit or loss when the item
is derecognised.

Depreciation is recognised to write off the cost of assets less their residual values over their useful lives,
using the Straight Line method.

(x) Impairment of Assets

Company shall assess at the end of each reporting period whether there is any indication that an asset
may be impaired. If any such indication exists, the company shall estimate the recoverable amount of
the asset. If, and only if, the recoverable amount of an asset is less than its carrying amount, the
carrying amount of the asset shall be reduced to its recoverable amount. That reduction is an impairment
loss. After the recognition of an impairment loss, the depreciation (amortisation) charge for the asset is
adjusted in future periods to allocate the asset''s revised carrying amount, less its residual value (if any),
on a systematic basis over its remaining useful life.

(xi) Financial Instrument
Recognition and derecognition

The Company recognises a financial asset or a financial liability in its balance sheet when, and only
when, it becomes party to the contractual provisions of the instrument. A regular way purchase or sale
of financial assets shall be recognised and derecognised, as applicable, using trade date accounting or
settlement date accounting.

The company will derecognise a financial asset when and only when: (a) the contractual rights to the
cash flows from the financial asset expire, or (b) it transfers the financial asset as set out below and the
transfer qualifies for derecognition.

(i) An entity transfers a financial asset if, and only if, it either: (a) transfers the contractual rights to
receive the cash flows of 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 in an arrangement that meets the conditions.

(ii) When the company retains the contractual rights to receive the cash flows of a financial asset (the
‘original asset''), but assumes a contractual obligation to pay those cash flows to one or more
entities (the ‘eventual recipients''), the company treats the transaction as a transfer of a financial
asset if, and only if, all of the conditions are met like:(a) The entity has no obligation to pay amounts
to the eventual recipients unless it collects equivalent amounts from the original asset. Short-term
advances by the company with the right of full recovery of the amount lent plus accrued interest at
market rates do not violate this condition.(b) The company is prohibited by the terms of the transfer
contract from selling or pledging the original asset other than as security to the eventual recipients
for the obligation to pay them cash flows.(c) The company has an obligation to remit any cash flows
it collects on behalf of the eventual recipients without material delay. In addition, the entity is not
entitled to reinvest such cash flows, except for investments in cash or cash equivalents during the
short settlement period from the collection date to the date of required remittance to the eventual
recipients, and interest earned on such investments is passed to the eventual recipients.

(iii) Whenever the company transfers a financial asset it evaluates the extent to which it retains the
risks and rewards of ownership of the financial asset. In this case: (a) if the company transfers
substantially all the risks and rewards of ownership of the financial asset, the company derecognises
the financial asset and recognise separately as assets or liabilities any rights and obligations
created or retained in the transfer. (b) If the company retains substantially all the risks and rewards
of ownership of the financial asset, it will continue to recognise the financial asset. (c) If the company
neither transfers nor retains substantially all the risks and rewards of ownership of the financial
asset, the company determines whether it has retained control of the financial asset.

In this case : (i) If the company has not retained control, it shall derecognise the financial asset and
recognise separately as assets or liabilities any rights and obligations created or retained in the
transfer. (ii) If the company has retained control, it shall continue to recognise the financial asset to

the extent of its continuing involvement in the financial asset.

Transfers that qualify for derecognition

(i) When the company transfers a financial asset in a transfer that qualifies for derecognition in its
entirety and retains the right to service the financial asset for a fee, it recognises either a servicing
asset or a servicing liability for that servicing contract. If the fee to be received is not expected to
compensate the company adequately for performing the servicing, a servicing liability for the servicing
obligation is recognised at its fair value. If the fee to be received is expected to be more than
adequate compensation for the servicing, a servicing asset shall be recognised for the servicing
right at an amount determined on the basis of an allocation of the carrying amount of the larger
financial asset as stated in (iv) below.

(ii) If, as a result of a transfer, a financial asset is derecognised in its entirety but the transfer results in
the entity obtaining a new financial asset or assuming a new financial liability, or a servicing liability,
the company recognises the new financial asset, financial liability or servicing liability at fair value.

(iii) On derecognition of a financial asset in its entirety, the difference between: (a) the carrying amount
(measured at the date of derecognition) and (b) the consideration received (including any new asset
obtained less any new liability assumed) is recognised in profit or loss.

(iv) If the transferred asset is part of a larger financial asset (e.g. when the company transfers interest
cash flows that are part of a debt instrument, and the part transferred qualifies for derecognition in
its entirety, the previous carrying amount of the larger financial asset shall be allocated between the
part that continues to be recognised and the part that is derecognised, on the basis of the relative
fair values of those parts on the date of the transfer. For this purpose, a retained servicing asset
shall be treated as a part that continues to be recognised. The difference between: (a) the carrying
amount (measured at the date of derecognition) allocated to the part derecognised and (b) the
consideration received for the part derecognised (including any new asset obtained less any new
liability assumed) shall be recognised in profit or loss.

Transfers that do not qualify for derecognition

If a transfer does not result in derecognition because the entity has retained substantially all the risks
and rewards of ownership of the transferred asset, the entity shall continue to recognise the transferred
asset in its entirety and shall recognise a financial liability for the consideration received. In subsequent
periods, the entity shall recognise any income on the transferred asset and any expense incurred on the
financial liability.

Continuing involvement in transferred assets

When the company neither transfers nor retains substantially all the risks and rewards of ownership of
a transferred asset, and retains control of the transferred asset, the company continues to recognise the
transferred asset to the extent of its continuing involvement.

Derecognition of financial liabilities

An entity shall remove a financial liability (or a part of a financial liability) from its balance sheet when,
and only when, it is extinguished—i.e. when the obligation specified in the contract is discharged or

cancelled or expires.

Classification of financial assets

The Company will classify financial assets as subsequently measured at amortised cost, fair value
through other comprehensive income or fair value through profit or loss on the basis of both: (a) the
entity''s business model for managing the financial assets and (b) the contractual cash flow characteristics
of the financial asset.

A financial asset shall be measured at amortised cost if both of the following conditions are met: (a) the
financial asset is held within a business model whose objective is to hold financial assets in order to
collect contractual cash flows and (b) 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.

Classification of financial liabilities

An entity shall classify all financial liabilities as subsequently measured at amortised cost.

(xii) Non-Performing Assets & Write-off Policy

The company shall directly reduce the gross carrying amount of a financial asset when the entity has no
reasonable expectations of recovering a financial asset in its entirety or a portion thereof. A write-off
constitutes a derecognition event. Identification of Non-Performing Assets (NPAs) is being done as per
the guidelines of Master Direction- Non Banking Financial Company -Non -Systemically Important
Non- Deposit taking Company (Reserve Bank) Directions, 2016 prescribed by the Reserve Bank of
India. The company is writing off NPAs in its books of accounts every year.

(xiii) Measurement of expected credit losses

The company has measured expected credit losses of a financial instrument in a way that reflects :(a)
an unbiased and probability-weighted amount that is determined by evaluating a range of possible
outcomes;(b) the time value of money; and(c) reasonable and supportable information that is available
without undue cost or effort at the reporting date about past events, current conditions and forecasts of
future economic conditions.

(xiv) Investments in equity instruments

At initial recognition, the company makes an irrevocable election to present in other comprehensive
income subsequent changes in the fair value of an investment in an equity instrument within the scope
of this Standard that is neither held for trading nor contingent consideration recognised by an acquirer in
a business combination to which IND AS103 applies. Once it makes this election, it shall recognise in
profit or loss dividends from that investment.

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Mar 31, 2015

Note - 1

A. Basis of Preparation of Financial Statement

The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 2013.

B. Use of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Differences between the actual results and estimates are recognised in the period in which the results are known /materialised.

C. Own fixed assets

Fixed Assets are stated at cost less accumulated depreciation and impairment, if any. Direct costs are capitalized until fixed assets are ready for use. Capital work-in-progress comprises the cost of fixed assets that are not yet ready for their intended use at the reporting date.

D. Depreciation and amortization

Depreciation on fixed assets is provided on the written down value method over the useful lives of assets estimated by the Management at the rates and in the manner prescribed in Schedule II of Companies Act, 2013.

E. Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. Dividend income is recognized when right to receive is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and rate applicable. Depreciation for assets purchased/sold during a period is proportionately charged.

F. Impairment of Assets

An assets is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to the Profit and Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

G. Investments

Current investments are carried at lower of cost and quoted/fair value computed category wise. Long Term Investments are stated at cost. Provision for diminution in the value of long term investments is made only if such a decline is other than temporary.

H. Inventories

Items of inventories are measured at lower of cost and net realisable value after providing for obsolescence, if any. Cost of inventories comprises cost of purchase, cost of conversion and other costs including manufacturing overheads incurred in bringing them to their respective present location and condition. Cost of raw materials, stores and spares, packing materials, trading and other products are determined on weighted average basis. By-products are valued at net realisable value.

I. Employee Benefits

Short term employee benefits are recognised as an expense at the undiscounted amount in the Profit and Loss account of the year in which the related service is rendered. Post employment and other long term employee benefits are recognised as an expense in the Profit and Loss account for the year in which the employee has rendered services.

J. Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income Tax Act, 1961. Deferred tax resulting from "timing difference" between taxable and accounting income is accounted for using the tax rates and laws that enacted or substantively enacted as on the balance sheet date. Deferred tax assets is recognized and carried forward only to the extent that there is a virtual certainty that the asset will be realised in future.

K. Provisions, Contingent Liabilities and Contingent Assets

Provision involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingents Assets are neither recognized nor disclosed in the financial statements.

L. Previous year's figures have been regrouped and rearranged, wherever necessary.

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Mar 31, 2014

Note -1

A. Basis of Preparation of Financial Statement

The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956.

B. Use of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Differences between the actual results and estimates are recognised in the period in which the results are known /materialised.

C. Own fixed assets

Fixed Assets are stated at cost less accumulated depreciation and impairment, if any. Direct costs are capitalized until fixed assets are ready for use. Capital work-in-progress comprises the cost of fixed assets that are not yet ready for their intended use at the reporting date.

D. Depreciation and amortization

Depreciation on fixed assets is provided on the written down value method over the useful lives of assets estimated by the Management at the rates and in the manner prescribed in Schedule XIV ofthe Companies Act, 1956.

E. Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. Dividend income is recognized when right to receive is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and rate applicable. Depreciation for assets purchased/sold during a period is proportionately charged.

F. Impairmentof Assets

An assets is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to the Profit and Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

G. Investments

Current investments are carried at lower of cost and quoted/fair value computed category wise. Long Term Investments are stated at cost. Provision for diminution in the value of long term investments is made only if such a decline is other than temporary.

H. Inventories

Items of inventories are measured at lower of cost and net realisable value after providing for obsolescence, if any. Cost of inventories comprises cost of purchase, cost of conversion and other costs including manufacturing overheads incurred in bringing them to their respective present location and condition. Cost of raw materials, stores and spares, packing materials, trading and other products are determined on weighted average basis. By-products are valued at net realisable value.

I. Employee Benefits

Short term employee benefits are recognised as an expense at the undiscounted amount in the Profit and Loss account of the year in which the related service is rendered. Post employment and other long term employee benefits are recognised as an expense in the Profit and Loss account for the year in which the employee has rendered services.

J. Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions ofthe Income Tax Act, 1961. Deferred tax resulting from "timing difference" between taxable and accounting income is accounted for using the tax rates and laws that enacted or substantively enacted as on the balance sheet date. Deferred tax assets is recognized and carried forward only to the extent that there is a virtual certainty that the asset will be realised in future.

K. Provisions, Contingent Liabilities and Contingent Assets

Provision involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingents Assets are neither recognized nor disclosed inthe financial statements.

L. Previous year''s figures have been regrouped and rearranged.

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Mar 31, 2013

A. Basis of Preparation of Financial Statement

The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956.

B. Use of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Differences between the actual results and estimates are recognjsed in the period in which the results are known/materialised.

C. Own Fixed Assets

Fixed Assets are stated at cost less accumulated depreciation and impairment, if any. Direct Costs are capitalised until fixed assets are ready for use. Capital work-in-progress comprises the cost of fixed assets that are not yet ready for their intended use at the reporting date.

D. Depreciation and Amortisation

Depreciation on fixed assets is provided on the written down value method over the useful lives of assets estimated by the Management at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956.

E. Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. Dividend income is recognized when right to receive is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and rate applicable. Depreciation for assets purchased/sold during a period is proportionately charged.

F. Impairment of Assets

As assets is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the Profit and Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

G. Investments

Current investments are carried at lower of cost and quoted/fair value computed category wise. Long Term Investments are stated at cost. Provision for dimunition in the value of long term investments is made only if such a decline is other than temporary.

H. Inventories

Items of inventories are measured at lower of cost and net realisable value after providing for obsolescence, if any. Cost of inventories comprises cost of purchase, cost of conversion and other costs including manufacturing overheads incurred in bringing them to their respective present location and condition. Cost of raw materials, stores and spates, packing materials trading and other products are determined on weighted average basis. By-products are value at net realisable value.

I. Employee Benefits

Short term employee benefits ars recognised as an expense at trie undiscounted amount in the Profit and Loss Account of the year in which the related servis rendered. Post employment and other long term employee benefits are recognised as an expense in the Profit and Loss Account for the year in which the employee has rendered services.

J. Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of Income Tax Act, 1961. Deferred Tax resulting from "timing difference" between taxable and acounting income is accounted for using the tax rates and laws that enacted or substantially enacted as on the balance sheet date. Deferred tax assets is recognized and carried forward only to the extent that there is a virtual certainity that the asset will be realised in future.

K. Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

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Mar 31, 2012

A. Basis of Preparation of Financial Statement

The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956.

B. Use of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Differences between the actual results and estimates are recognised in the period in which the results are known/materialised.

C. Own Fixed Assets

Fixed Assets are stated at cost less accumulated depreciation and impairment, if any. Direct Costs are capitalised until fixed assets are ready for use.Capital work-in-progress comprises the cost of fixed assets that are not yet ready for their intended use at the reporting date.

D. Depreciation and Amortisation

Depreciation on fixed assets is provided on the written down value method over the useful lives of assets estimated by the Managementat the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956.

E. Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. Dividend income is recognized when right to receive is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and rate applicable. Depreciation for assets purchased/sold during a period is proportionately charged.

F. Impairment of Assets

As assets is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the Profit and Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

G. Investments

Current investmentsare carried at lower of cost and quoted/fair value computed category wise. Long Term Investments are stated at cost. Provision for dimunition in the value of long term investments is made only if such a decline is other than temporary.

H. Inventories

Items of inventories are measured at lower of cost and net realisable value after providing for obsolescence, if any. Cost of inventories comprises cost of purchase, cost of conversion and other costs including manufacturing overheads incurred in bringing them to their respective present location and condition. Cost of raw materials, stores and spares, packing materials trading and other products are determined on weighted average basis. By-products are value at net realisable value.

I. Employee Benefits

Short term employee benefits are recognised as an expense at the undiscounted amountin the Profit and Loss Account of the year in which the related servis rendered. Post employment and other long term employee benefits are recognised as an expense in the Profit and Loss Account for the year in which the employee has rendered services. t

J. Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions

of Income Tax Act,1961. Deferred Tax resulting from "timing difference" between taxable and acounting income is accounted for using the tax rates and laws that enacted or substantially enacted as on the balance sheet date. Deferred tax assets is recognized and carried forward only to the extent that there is a virtual certainity that the asset will be realised in future.

K. Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

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Mar 31, 2011

A. BASIS OF ACCOUNTING:

The Financial Statements have been prepared under the Historical Cost Convention and one on accrual basis.

B. INCOME RECOGNITION :

All revenues/incomes except Dividend, Interest on Debentures are recognised on accrual basis of accounting.

C. PRINCIPAL ACCOUNTING POLICIES:

Accounting Policies, unless specifically stated to be otherwise, are consistent and are in conso- nance with generally accepted accounting principles. ,

D. GRATUITY:

The Company has taken Group Gratuity Policy from LIC of India for its employees and contribution paid during the year has been charged to Profit & Loss Account.

E. STOCK IN TRADE:

Stock in Trade are valued at lower of Cost and Market Value.

F. FIXED ASSETS :

Fixed Assets are stated at cost of acquisition less depreciation.

G. DEPRECIATION:

Depreciation has been provided on Straight Line Method at the rates prescribed in Schedule XIV to the Companies Act, 1956.

H. CONTINGENT LIABILITIES;

Contingent liabilities are generally not provided for in the books of accounts and are seperately shown in the Notes on Accounts.

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Mar 31, 2010

A. BASIS OF ACCOUNTING:

The Financial Statements have been prepared under Historcal Cost Convention and one of accrual basis.

B. INCOME RECOGNITION:

All revenuss/income except Dicidend, Interest on Debantures are recognised on acconral basis of accounting.

C. PRINCIPAL ACCOUNTING POLICIES:

Accounting Poticies, unless specificalty stated to be otherwise, are consistant and are in consonance with generally accepted accounting principle.

D. GRATUTY:

The Company has taken Group Gratuity Policy from LIC of India for its emplouees and contribution paid during the year has been charged to Profit & Loss Account.

E. STOCK IN TRADE:

Stock in Trade are valued at lower of Cost and Market value.

F. FIXED ASSETS:

Fixed Assets are stated at cost of exquisition less depreciation.

G. DEPRECIATION:

Depreciatiom has been provided on Straight Line Mathod at the rates prascribed in Schedule XIV to the Companies Act, 1958. Excapt Power Projects on which no Depraciation has been charged.

H. CONTINGENT LIABILITIES:

Contingent liablities are generally not provided for in the books of accounts and are seperaley shown in the Notes on Accounts.