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Accounting Policies of Sandesh Ltd. Company
Mar 31, 2025
3 Material accounting policies
3.1 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. Revenue towards
satisfaction of a performance obligation Is measured at the
amount of transaction price (net of variable consideration)
allocated to that performance obligation. The transaction
price of goods sold and services rendered is net of variable
consideration on account of discounts as part of the
contract in normal course of Company''s activities.
Advertisement revenue
Advertisement revenue is recognised as and when
advertisement is published / displayed / aired and is
disclosed net of trade discounts and goods and service tax.
Circulation revenue
Sale of newspaper and magazine is recognised when the
significant risk and rewards of ownership have passed
on to the buyers and is disclosed net of sales return
and discounts.
Revenue from scrap sale
Sale of waste paper and scrap is recognised when the
significant risk and rewards of ownership have passed on
to the buyers.
Other revenue
Gain or Loss on derecognition of financial asset is
determined as the difference between the sale price (net
of selling costs) and carrying value of financial asset.
Interest income is recognised using effective interest
method. The effective interest rate is the rate that exactly
discounts estimated future cash receipts through expected
life of the financial asset to the gross carrying amount of
the financial asset. When calculating the effective interest
rate, the Company estimates the expected cash flows
by considering all the contractual terms of the financial
instrument but does not consider the expected credit losses.
Dividend income is recognised when the right to receive
the dividend is established.
All other income are recognised and accounted for on
accrual basis.
3.2 Property, Plant and Equipment
Property, Plant and Equipment are stated at cost, net of
accumulated depreciation and accumulated impairment
losses, if any.
The cost comprises the purchase price, borrowing cost
if capitalization criteria are met and directly attributable
cost of bringing the asset to its working condition for
its intended use. Any trade discounts and rebates are
deducted in arriving at the purchase price.
Subsequent expenditures relating to property, plant
and equipment is capitalized only when it is probable
that future economic benefits associated with these will
flow to the Company and the cost of the item can be
measured reliably.
All other expenses on existing fixed assets, including
day-to-day repair and maintenance expenditure and
cost of replacing parts, are charged to the statement of
profit and loss for the period during which such expenses
are incurred.
Property, Plant and Equipment not ready for the intended
use on the date of the Balance Sheet are disclosed as
"Capital work-in-progress".
Gains or losses arising from derecognition of fixed assets
are measured as the difference between the net disposal
proceeds and the carrying amount of the asset at the time
of disposal and are recognized in the statement of profit
and loss when the asset is derecognized.
Depreciation on Property, Plant and Equipment, other
than plant and machinery, is provided on written down
value method and depreciation on plant and machinery
is provided on Straight line method (SLM) basis as per the
useful life prescribed under Schedule II to the Companies
Act, 2013.
In respect of Property, Plant and Equipment purchased
during the year, depreciation is provided on a pro-rata
basis from the date on which such asset is ready to use.
The residual value, useful life and method of depreciation
of Property, Plant and Equipment are reviewed at
each financial year end and adjusted prospectively,
if appropriate.
3.3 Intangible assets
An intangible asset is recognised, only where it is
probable that future economic benefits attributable to
the asset will accrue to the enterprise and the cost can be
measured reliably.
a Advertisement right
Intangible assets are stated at cost, less accumulated
amortization and impairment losses, if any.
Advertisement rights granted by Vadodara Municipal
Corporation (VMC) are against construction service
rendered by the Company on BOT basis.
Advertisement right cost comprises of direct and indirect
expenses on construction of bus shelters in terms of
Concession Agreement.
Subsequent expenditure related to an item of intangible
assets is added to its book value only if it increases
the future benefits from the existing asset beyond its
previously assessed standard of performance.
Investment properties are depreciated using written
down value method to allocate cost of assets over their
estimated useful lives as per Schedule II to the Companies
Act .
All other expenses on existing intangible assets are
charged to the statement of profit and loss for the period
during which such expenses are incurred.
Intangible assets are amortized on straight line basis over
concession period.
b Other intangible assets
Intangible assets are stated at cost, less accumulated
amortization and impairment losses, if any.
Intangible assets not ready for the intended use on the
date of the Balance Sheet are disclosed as intangible
assets under development.
Separately purchased intangible assets are initially
measured at cost. Subsequently, intangible assets are
carried at cost less any accumulated amortization and
accumulated impairment losses, if any.
The useful lives of intangible assets are assessed as either
finite or infinite. Finite-life intangible assets are amortized
on a straight-line basis over the period of their expected
useful lives. Intangible assets are amortized over a period
of six years on straight line basis as per the useful life
prescribed under Schedule II to the Companies Act, 2013.
Intangible assets acquired / purchased during the year are
amortized on a pro-rata basis from the date on which such
assets are ready to use.
Intangible assets with an infinite useful life are
not amortized. Such intangible assets are tested
for impairment.
The residual value, useful life and method of amortization
of intangible assets are reviewed at each financial year end
and adjusted prospectively, if appropriate.
3.4 Investment Property
Investment Property is measured initially at cost including
related transaction costs.
The cost comprises the purchase price, borrowing cost
if capitalization criteria are met and directly attributable
cost of bringing the asset to its working condition for its
intended use.
Subsequent expenditures are capitalized only when it is
probable that future economic benefits associated with
these will flow to the Company and the cost of the item
can be measured reliably.
Investment properties are depreciated using written
down value method to allocate cost of assets over their
estimated useful lives. Investment properties generally
have useful life of 60 years.
All day-to-day repair and maintenance expenditure are
charged to the statement of profit and loss for the period
during which such expenses are incurred.
Gains or losses arising from derecognition of investment
property are measured as the difference between the net
disposal proceeds and the carrying amount of the asset at
the time of disposal and are recognized in the statement
of profit and loss when the asset is derecognized.
3.5 Inventories
Inventories are valued at lower of cost and net realizable
value. Cost of materials is determined on weighted
average basis. Net realizable value is the estimated selling
price less estimated cost necessary to make the sale.
3.6 Financial Instruments
3.6.1 Initial recognition
The Company recognizes financial assets and financial
liabilities when it becomes a party to the contractual
provisions of the instrument.
All financial assets and liabilities are recognized at fair
value on initial recognition except for trade receivables
which are initially measured at transaction price.
Transaction costs that are directly attributable to the
acquisition or issue of financial assets and financial
liabilities that are not at fair value through profit or loss
are added to or deducted from the fair value of financial
assets or financial liabilities on initial recognition.
Transaction costs directly attributable to the acquisition of
financial assets or financial liabilities at fair value through
profit or loss are recognised immediately in profit or loss.
Trade receivable that do not contain significant financing
component are measured at transaction price.
Regular purchase and sale of financial assets are accounted
for at trade date.
3.6.2 Subsequent measurement
a Non-derivative financial instruments
i Financial assets carried at amortized cost
A financial asset is subsequently measured at
amortized cost if it is held within a business model
whose objective is to hold the asset in order to collect
contractual cash flows and the contractual terms of
the financial asset give rise on specified dates to
cash flows that are solely payments of principal and
interest on the principal amount outstanding.
ii Financial assets at fair value through other
comprehensive income
A financial asset is subsequently measured at fair
value through other comprehensive income if it is
held within a business model whose objective is
achieved by both collecting contractual cash flows
and selling financial assets and the contractual terms
of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and
interest on the principal amount outstanding.
The Company has made an irrevocable election
for its investments which are classified as equity
instruments to present the subsequent changes in
fair value in other comprehensive income based on
its business model. For such equity instruments, the
subsequent changes in fair value are recognized in
other comprehensive income.
iii Financial assets at fair value through profit or loss
A financial asset which is not classified in any of the
above categories are subsequently measured at
fair value through profit or loss. Fair value changes
are recognised as other income in the Statement of
Profit or Loss.
iv Financial liabilities
Financial liabilities are subsequently carried at
amortized cost using the effective interest method.
v Investment in subsidiary
Investment in subsidiary is carried at cost in the
separate financial statements.
b Equity instruments
An equity instrument is a contract that evidences residual
interest in the assets of the Company after deducting all
of its liabilities. Incremental costs directly attributable to
the issuance of equity instruments are recognised as a
deduction from equity instrument net of any tax effects.
3.6.3 Derecognition
The Company derecognizes a financial asset when the
contractual rights to the cash flows from the financial asset
expire or it transfers the financial asset and the transfer
qualifies for derecognition under Ind AS 109.A financial
liability is derecognized when obligation specified in the
contract is discharged or cancelled or expires.
3.6.4 Off-setting
Financial assets and liabilities are offset and the net
amount is presented in the balance sheet when the
Company currently has a legally enforceable right to
offset the recognised amount and intends either to
settle on a net basis or to realize the asset and settle the
liability simultaneously.
3.7 Fair Value Measurement
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 assumes 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
A fair value measurement of a non-financial asset takes
into account a market participant''s ability to generate
economic benefit by using the asset in its highest and
best use or by selling it to another market participant that
would use the asset in its highest and best use.
The Company uses valuation techniques that are
appropriate in the circumstances and for which sufficient
data are available to measure fair value, maximizing the
use of relevant observable inputs and minimizing the use
of unobservable inputs.
All assets and liabilities for which fair value is measured
or disclosed in the financial statements are categorized
within the fair value hierarchy. The fair value hierarchy
is based on inputs to valuation techniques that are
used to measure fair value that are either observable or
unobservable and consists of the following three levels:
Level 1 - inputs are quoted prices (unadjusted) in active
markets for identical assets or liabilities
Level 2 - inputs are other than quoted prices included
within level 1 that are observable for the asset or liability
either directly (i.e. as prices) or indirectly (i.e. derived
prices)
Level 3 - inputs are not based on observable market data
(unobservable inputs).Fair values are determined in whole
or in part using a valuation model based on assumption
that are neither supported by prices from observable
current market transactions in the same instrument nor
are they based on available market data.
3.8 Income tax
Income tax expense comprises current tax and
deferred tax.
3.8.1 Current Tax
Current tax is recognised in profit or loss, except when it
relates to items that are recognised in other comprehensive
income or directly in equity, in which case, the current
tax is also recognised in other comprehensive income or
directly in equity, respectively.
Current tax for current and prior periods is recognized at
the amount expected to be paid to or recovered from the
tax authorities, using the tax rates and tax laws that have
been enacted or substantively enacted by the balance
sheet date.
Current tax assets and current tax liabilities are offset,
where Company has a legally enforceable right to set off
the recognised amounts and where it intends either to
settle on a net basis, or to realize the asset and settle the
liability simultaneously.
3.8.2 Deferred Tax
Deferred tax is recognised in profit or loss, except
when it relates to items that are recognised in other
comprehensive income or directly in equity, in which case,
the deferred tax is also recognised in other comprehensive
income or directly in equity, respectively.
Deferred tax liabilities are recognised for all taxable
temporary differences, except to the extent that the
deferred tax liability arises from initial recognition of
goodwill; or initial recognition of an asset or liability in
a transaction which is not a business combination and at
the time of transaction, affects neither accounting profit
nor taxable profit or loss.
Deferred tax assets are recognised for all deductible
temporary differences, carry forward of unused tax losses
and carry forward of unused tax credits to the extent
that it is probable that taxable profit will be available
against which those temporary differences, losses and
tax credit can be utilized, except when deferred tax
asset on deductible temporary differences arise 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 accounting profit nor taxable
profit or loss.
Deferred tax assets and liabilities are measured at the tax
rates that are expected to apply to the period when the
asset is realized or the liability is settled, based on the tax
rules and tax laws that have been enacted or substantively
enacted by the end of the reporting period.
Deferred tax assets and deferred tax liabilities are offset,
where Company has a legally enforceable right to set off
the recognized amounts and where it intends either to
settle on a net basis, or to realize the asset and settle the
liability simultaneously.
Deferred tax assets are reviewed at each reporting date
and are reduced to the extent that it is no longer probable
that the related tax benefit will be realized.
3.9 Impairment
3.9.1 Financial assets other than investment in subsidiary
The Company recognizes loss allowances using the
expected credit loss (ECL) model for the financial assets
which are not fair valued through profit or loss.
Loss allowance for trade receivables with no significant
financing component is measured at an amount equal to
lifetime ECL.
For all other financial assets, expected credit losses are
measured at an amount equal to the 12-month ECL, unless
there has been a significant increase in credit risk from
initial recognition in which case those are measured at
lifetime ECL.
The impairment loss allowance (or reversal) recognised
during the period is recognised as income / expense in
the statement of profit and loss.
3.9.2 Financial assets - investment in subsidiary
The Company assesses at each reporting date whether
there is an indication that an asset may be impaired. Such
indication include, though are not limited to, significant
or sustained decline in revenues or earnings and material
adverse changes in the economic environment.
If any indication exists, the Company estimates the asset''s
recoverable amount based on value in use.
To calculate value in use, the estimated future cash flows
are discounted to their present value using a pre-tax
discount rate that reflects current market rates and the
risk specific to the asset
Where the carrying amount of an asset exceeds its value
in use amount, the asset is considered impaired and is
written down to its recoverable amount. The impairment
loss is recognised in statement of profit and loss.
3.9.3 Non-financial assets
Tangible and intangible assets
The Company assesses at each reporting date whether
there is an indication that an asset may be impaired. If
any indication exists the Company estimates the asset''s
recoverable amount.
An asset''s recoverable amount is the higher of an assets net
selling price and its value in use. The recoverable amount
is determined for an individual asset, unless the asset does
not generate cash inflows that are largely independent of
those from other assets or groups of assets.
Where the carrying amount of an asset exceeds its
recoverable amount, the asset is considered impaired and
is written down to its recoverable amount. The impairment
loss is recognised in the statement of profit and loss.
In assessing value in use, the estimated future cash flows
are discounted to their present value using a pre-tax
discount rate that reflects current market assessments of
the time value of money and the risks specific to the asset.
In determining net selling price, recent market transactions
are taken into account, if available. If no such transactions
can be identified, an appropriate valuation model is used.
3.9.4 Lease
Company as lessee
The Company''s lease asset classes primarily consist of
leases for Office building. The Company assesses whether
a contract contains a lease, at inception of a contract. A
contract is, or contains, a lease if the contract conveys
the right to control the use of an identified asset for a
period of time in exchange for consideration. To assess
whether a contract conveys the right to control the use
of an identified asset, the Company assesses whether: (i)
the contract involves the use of an identified asset (ii) the
Company has substantially all of the economic benefits
from use of the asset through the period of the lease
and (iii) the Company has the right to direct the use of
the asset.
At the date of commencement of the lease, the Company
recognizes a right-of-use (ROU) asset and a corresponding
lease liability for all lease arrangements in which it is a
lessee, except for leases with a term of 12 months or less
(short-term leases) and low value leases. For these short¬
term and low-value leases, the Company recognizes the
lease payments as an operating expense on a straight-line
basis over the term of the lease.
The ROU assets are initially recognized at cost, which
comprises the initial amount of the lease liability
adjusted for any lease payments made at or prior to the
commencement date of the lease plus any initial direct
costs less any lease incentives. They are subsequently
measured at cost less accumulated depreciation and
impairment losses.
ROU assets are depreciated from the commencement date
on a straight-line basis over the shorter of the lease term
and useful life of the underlying asset.
The lease liability is initially measured at amortized cost
at the present value of the future lease payments. The
lease payments are discounted using the interest rate
implicit in the lease or, if not readily determinable, using
the incremental borrowing rates in the country of domicile
of these leases.
Lease liability and ROU assets have been separately
presented in the Balance Sheet and lease payments have
been classified as financing cash flows.
Advance lease payment made for the entire life of the
lease is amortized over a lease period.
Company as lessor
Operating lease
Lease income from operating leases where the Company
is a lessor is recognised in income on a straight-line basis
over the term of the relevant lease. In case of modification
of contractual terms, the same is accounted as a new
lease, considering any prepaid or accrued lease payments
relating to the original lease as part of the lease payments
for the new lease.
3.10 Employee Benefits
Short term employee benefits for salary and wages
include leave that are expected to be settled wholly within
12 months after the end of the reporting period in which
employees render the related service are recognized as an
expense in the statement of profit and loss.
Retirement benefit in the form of provident fund is a
defined contribution scheme. The Company recognizes
contribution payable to the provident fund scheme
as an expenditure, when an employee renders the
related service.
The Company operates one defined benefit plan for its
employees, viz., gratuity plan. The costs of providing
benefits under the plan are determined on the basis of
actuarial valuation at each year-end. Actuarial valuation is
carried out using the projected unit credit method made
at the end of each reporting date. Re-measurement of the
net defined benefit liability (asset) comprise of actuarial
gains and losses, the effect of the asset ceiling, excluding
amounts included in net interest on the net defined
benefit liability (asset) and the return on plan assets
(excluding amounts included in net interest on the net
defined benefit liability / (asset)).Re-measurement are
recognised in other comprehensive income and will not
be reclassified to profit or loss in a subsequent period.
Mar 31, 2024
1 COMPANY OVERVIEW
The Sandesh Limited (the ''Company'') is a public limited Company domiciled in India and is incorporated under the provisions of the Companies Act with its registered office located at "Sandesh Bhavan", Lad Society Road, B/h. Vastrapur Gam, P.O. Bodakdev, Ahmedabad - 380054. The Company is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The Company belongs to the Regional Print Media Industry and is a publisher of "SANDESH" a premier Gujarati daily newspaper in Gujarat Region, to carry on the business of editing, printing and publishing newspapers and periodicals, and also runs Gujarati news channel "Sandesh Telecast", "OOH"
The financial statements are approved for issue by the Company''s Board of Directors on May 29, 2024
2 BASIS OF PREPARATION2.1 Statement of compliance
The financial statements comply in all material aspects with Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.
The Financial Statements have been prepared on the historical cost basis except for the following items which are measured at fair values:
- certain financial assets and liabilities
- defined benefit plan assets
2.3 Functional and presentation currency
Indian rupee is the functional and presentation currency.
2.4 Current and non-current classification of assets and liabilities:
The Standalone Assets and Liabilities and the Standalone Statement of Profit and Loss, including notes, are prepared and presented as per the requirements of Schedule III (Division II) to the Companies Act, 2013. All assets and liabilities have been classified and disclosed as current and non-current as per the Company''s normal operating cycle and other criteria set out in Schedule III. Based on the nature of products and the time between the acquisition of assets for processing and their realization into cash and cash equivalents, the company has ascertained its operating cycle as twelve months for the purpose of current-on current classification of asset and liabilities.
The preparation of the financial statements in conformity with Ind AS requires management to make estimates, judgments and assumptions.
These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period.
Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.
Application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements are:
- Amortization of advertisement rights
- Useful lives of Property, plant and equipment
- Valuation of financial instruments
- Provisions and contingencies
- Income tax and deferred tax
- Measurement of defined employee benefit obligations
3 MATERIAL ACCOUNTING POLICIES3.1 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. Revenue towards satisfaction of a performance obligation Is measured at the amount of transaction price (net of variable consideration) allocated to that performance obligation. The transaction price of goods sold and services rendered is net of variable consideration on account of discounts as part of the contract in normal course of company''s activities.
Advertisement revenue is recognised as and when advertisement is published / displayed / aired and is disclosed net of trade discounts and service tax / goods and service tax.
Sale of newspaper and magazine is recognised when the significant risk and rewards of ownership have passed on to the buyers and is disclosed net of sales return and discounts.
Sale of waste paper and scrap is recognised when the significant risk and rewards of ownership have passed on to the buyers.
Gain or Loss on derecognition of financial asset is determined as the difference between the sale price (net of selling costs) and carrying value of financial asset.
Interest income is recognised using effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash receipts through expected life of the financial asset to the gross carrying amount of the financial asset. When calculating the effective interest rate, the company estimates the expected cash flows by considering all the contractual terms of the financial instrument but does not consider the expected credit losses.
Dividend income is recognised when the right to receive the dividend is established.
All other incomes are recognised and accounted for on accrual basis.
3.2 Property, Plant and Equipment
Property, Plant and Equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any.
The cost comprises the purchase price, borrowing cost if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for its intended use. Any trade discounts and rebates are deducted in arriving at the purchase price.
Subsequent expenditures relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the company and the cost of the item can be measured reliably.
All other expenses on existing fixed assets, including day-to-day repair and maintenance expenditure and cost of replacing parts, are charged to the statement of profit and loss for the period during which such expenses are incurred.
Property, Plant and Equipment not ready for the intended use on the date of the Balance Sheet are disclosed as "Capital work-in-progress".
Gains or losses arising from derecognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying amount of the asset at the time of disposal and are recognized in the statement of profit and loss when the asset is derecognized.
Depreciation on Property, Plant and Equipment, other than plant and machinery, is provided on written down value method and depreciation on plant and machinery is provided on Straight line method (SLM) basis as per the useful life prescribed under Schedule II to the Companies Act, 2013.
In respect of Property, Plant and Equipment purchased during the year, depreciation is provided on a pro-rata basis from the date on which such asset is ready to use.
The residual value, useful life and method of depreciation of Property, Plant and Equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.
An intangible asset is recognised, only where it is probable that future economic benefits attributable to the asset will accrue to the enterprise and the cost can be measured reliably.
a Advertisement right
I ntangible assets are stated at cost, less accumulated amortization and impairment losses, if any.
Advertisement rights granted by Vadodara Municipal Corporation (VMC) are against construction service rendered by the Company on BOT basis.
Advertisement right cost comprises of direct and indirect expenses on construction of bus shelters in terms of Concession Agreement.
Subsequent expenditure related to an item of intangible assets is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance.
All other expenses on existing intangible assets are charged to the statement of profit and loss for the period during which such expenses are incurred.
I ntangible assets are amortized on straight line basis over concession period.
b Other intangible assets
I ntangible assets are stated at cost, less accumulated amortization and impairment losses, if any.
Intangible assets not ready for the intended use on the date of the Balance Sheet are disclosed as intangible assets under development.
Separately purchased intangible assets are initially measured at cost. Subsequently, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses, if any.
The useful lives of intangible assets are assessed as either finite or infinite. Finite-life intangible assets are amortized on a straight-line basis over the period of their expected useful lives. Intangible assets are amortized over a period of six years on straight line basis as per the useful life prescribed under Schedule II to the Companies Act, 2013. Intangible assets acquired / purchased during the year are amortized on a pro-rata basis from the date on which such assets are ready to use.
Intangible assets with an infinite useful life are not amortized. Such intangible assets are tested for impairment.
The residual value, useful life and method of amortization of intangible assets are reviewed at each financial year end and adjusted prospectively, if appropriate.
I nvestment Property is measured initially at cost including related transaction costs.
The cost comprises the purchase price, borrowing cost if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for its intended use.
Subsequent expenditures are capitalized only when it is probable that future economic benefits associated with these will flow to the company and the cost of the item can be measured reliably.
All day-to-day repair and maintenance expenditure are charged to the statement of profit and loss for the period during which such expenses are incurred.
Gains or losses arising from derecognition of investment property are measured as the difference between the net disposal proceeds and the carrying amount of the asset at the time of disposal and are recognized in the statement of profit and loss when the asset is derecognized.
3.5 Financial Instruments 3.5.1 Initial recognition
The company recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument.
All financial assets and liabilities are recognized at fair value on initial recognition except for trade receivables which are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through profit or loss are added to or deducted from the fair value of financial assets or financial liabilities on initial recognition.
Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.
Trade receivable that do not contain significant financing component are measured at transaction price.
Regular purchase and sale of financial assets are accounted for at trade date.
3.5.2Subsequent measurementa Non-derivative financial instrumentsi Financial assets carried at amortized cost
A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
ii Financial assets at fair value through other comprehensive income
A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
The Company has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model. For such equity instruments, the subsequent changes in fair value are recognized in other comprehensive income.
iii Financial assets at fair value through profit or loss
A financial asset which is not classified in any of the above categories are subsequently measured at fair value through profit or loss. Fair value changes are recognised as other income in the Statement of Profit or Loss.
Financial liabilities are subsequently carried at amortized cost using the effective interest method.
Investment in subsidiary is carried at cost in the separate financial statements.
An equity instrument is a contract that evidences residual interest in the assets of the company after deducting all of its liabilities. Incremental costs directly attributable to the issuance of equity instruments are recognised as a deduction from equity instrument net of any tax effects.
The company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109.A financial liability is derecognized when obligation specified in the contract is discharged or cancelled or expires.
Financial assets and liabilities are offset and the net amount is presented in the balance sheet when the company currently has a legally enforceable right to offset the recognised amount and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.
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 assumes 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
A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic benefit by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.
The company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use
of relevant observable inputs and minimizing the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:
Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 - inputs are other than quoted prices included within level 1 that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived prices)
Level 3 - inputs are not based on observable market data (unobservable inputs).Fair values are determined in whole or in part using a valuation model based on assumption that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.
Income tax expense comprises current tax and deferred tax. 3.7.1CurrentTax
Current tax is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity, respectively.
Current tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date.
Current tax assets and current tax liabilities are offset, where company has a legally enforceable right to set off the recognised amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.
Deferred tax is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the deferred tax is also recognised in other comprehensive income or directly in equity, respectively.
Deferred tax liabilities are recognised for all taxable temporary differences, except to the extent that the
deferred tax liability arises from initial recognition of goodwill; or initial recognition of an asset or liability in a transaction which is not a business combination and at the time of transaction, affects neither accounting profit nor taxable profit or loss.
Deferred tax assets are recognised for all deductible temporary differences, carry forward of unused tax losses and carry forward of unused tax credits to the extent that it is probable that taxable profit will be available against which those temporary differences, losses and tax credit can be utilized, except when deferred tax asset on deductible temporary differences arise 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 accounting profit nor taxable profit or loss.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on the tax rules and tax laws that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets and deferred tax liabilities are offset, where company has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.
Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.
3.8 Impairment3.8.1 Financial assets other than investment in subsidiary
The company recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair valued through profit or loss.
Loss allowance for trade receivables with no significant financing component is measured at an amount equal to lifetime ECL.
For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL.
The impairment loss allowance (or reversal) recognised during the period is recognised as income / expense in the statement of profit and loss.
3.8.2Financial assets - investment in subsidiary
The company assesses at each reporting date whether there is an indication that an asset may be impaired. Such indication include, though are not limited to, significant or sustained decline in revenues or earnings and material adverse changes in the economic environment.
If any indication exists, the company estimates the asset''s recoverable amount based on value in use.
To calculate value in use, the estimated future cash flows are discounted to their present value using a pretax discount rate that reflects current market rates and the risk specific to the asset
Where the carrying amount of an asset exceeds its value in use amount, the asset is considered impaired and is written down to its recoverable amount. The impairment loss is recognised in statement of profit and loss.
Tangible and intangible assets
The company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists the company estimates the asset''s recoverable amount.
An asset''s recoverable amount is the higher of an assets net selling price and its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets.
Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. The impairment loss is recognised in the statement of profit and loss.
I n assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
In determining net selling price, recent market transactions are taken into account, if available. If no such transactions can be identified, an appropriate valuation model is used.
Company as lessee
The Company''s lease asset classes primarily consist of leases for Office building. The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use (ROU) asset and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low value leases. For these short-term and low-value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.
The ROU assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses.
ROU assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset.
The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of these leases.
Lease liability and ROU assets have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.
Advance lease payment made for the entire life of the lease is amortized over a lease period.
Company as lessor Operating lease
Lease income from operating leases where the Company is a lessor is recognised in income on a straight-line basis over the term of the relevant lease. In case of modification of contractual terms, the same is accounted as a new lease, considering any prepaid or accrued lease payments relating to the original lease as part of the lease payments for the new lease.
3.10 Employee Benefits
Short term employee benefits for salary and wages including accumulated leave that are expected to be settled wholly within 12 months after the end of the reporting period in which employees render the related service are recognized as an expense in the statement of profit and loss.
As per Company''s policy, no leave is expected to be carried forward.
Retirement benefit in the form of provident fund is a defined contribution scheme. The company has no obligation, other than the contribution payable to the provident fund. The company recognizes contribution payable to the provident fund scheme as an expenditure, when an employee renders the related service.
The company operates one defined benefit plan for its employees, viz., gratuity plan. The costs of providing benefits under the plan are determined on the basis of actuarial valuation at each year-end. Actuarial valuation is carried out using the projected unit credit method made at the end of each reporting date. Re-measurement of the net defined benefit liability (asset) comprise of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset) and the return on plan assets (excluding amounts included in net interest on the net defined benefit liability / (asset)).Re-measurement are recognised in other comprehensive income and will not be reclassified to profit or loss in a subsequent period.
3.11 Provisions
A provision is recognized when the company has a present obligation as a result of past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.
Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.
3.12 Contingent Liability
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed on occurrence or non-occurrence of one or more uncertain future events
beyond the control of the company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The company does not recognize a contingent liability but discloses its existence in the financial statements.
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only on occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company. The company does not recognize a contingent asset but discloses its existence in the financial statements.
a Initial recognition
Foreign currency transactions are recorded in the functional currency, by applying to the foreign currency amount the exchange rate between the functional currency and the foreign currency at the date of the transaction.
b Conversion
Foreign currency monetary items are retranslated using the exchange rate prevailing at the reporting date. Non-monetary items, which are measured in terms of historical cost denominated in a foreign currency, are reported using the exchange rate at the date of the transaction.
All exchange differences are recognized as income or as expenses in the year in which they arise.
Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank (including demand deposits) and in hand and short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and bank overdrafts. Bank overdraft is shown within cash and cash equivalents.
Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares
outstanding during the year are adjusted for the effects of all dilutive potential equity shares.
3.17 Inventories
I nventories are valued at lower of cost and net realizable value. Cost of materials is determined on weighted average basis. Net realizable value is the estimated selling price less estimated cost necessary to make the sale.
3.18 Segment Reporting
An operating segment is component of the company that engages in the business activity from which the company earns revenues and incurs expenses, for which discrete financial information is available and whose operating results are regularly reviewed by the chief operating decision maker, in deciding about resources to be allocated to the segment and assess its performance. The company''s chief operating decision maker is the Managing Director.
Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as un-allocable.
Revenue and expenses directly attributable to segments are reported under each reportable segment. All other expenses which are not attributable or allocable to segments have been disclosed as un-allocable expenses.
The company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the company as a whole.
3.19 Cash Flow Statement
Cash flows are reported using indirect method whereby profit for the period is adjusted for the effects of the transactions of non-cash nature, any deferrals or accruals of past or future operating cash receipts and payments and items of income or expenses associated with investing and financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.
3.20 Events after reporting date
Where events occurring after the Balance Sheet date provide evidence of conditions that existed at the end of the reporting period, the impact of such events is adjusted within the financial statements. Otherwise, events after the Balance Sheet date of material size or nature are only disclosed.
4 RECENT ACCOUNTING PRONOUNCEMENTS:
Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards. There is no such notification which would have been applicable from April 1st, 2024.
Mar 31, 2023
3 SIGNIFICANT ACCOUNTING POLICIES
3.1 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. Revenue towards satisfaction of a performance obligation Is measured at the amount of transaction price (net of variable consideration) allocated to that performance obligation. The transaction price of goods sold and services rendered is net of variable consideration on account of discounts as part of the contract in normal course of company''s activities.
Advertisement revenue
Advertisement revenue is recognised as and when advertisement is published / displayed / aired and is disclosed net of trade discounts and service tax / goods and service tax.
Circulation revenue
Sale of newspaper and magazine is recognised when the significant risk and rewards of ownership have passed on to the buyers and is disclosed net of sales return and discounts.
Real estate revenue
Sale of real estate is recognised when the significant risks and rewards of ownership have passed on to the customer.
Construction contract revenue
The outcome of a fixed price construction contract can be estimated reliably when total contract revenue can be measured reliably, it is probable that economic benefits associated with the contract will flow to the company, contract costs to complete the contract and stage of contract completion at the end of the reporting period can be measured reliably and contract cost attributable to the contract can be identified and measured reliably.
Percentage of completion is determined based on the proportion of actual cost incurred to the total estimated cost of the project. The percentage of completion method is applied on a cumulative basis in each accounting period to the current estimates of contract revenue and contract costs. The effect of a change in the estimate of contract revenue or contract costs, or the effect of a change in the estimate of the outcome of a contract, is accounted for as a change in accounting estimate and the effect of which are recognised in the Statement of Profit and Loss in the period in which the change is made and in subsequent periods.
Contract revenue comprises the initial amount of revenue agreed in the contract, the variations in contract work, claims and incentive payments to the extent that it is probable that they will result in revenue and they are capable of being reliably measured. Contract revenue is measured at the fair value of the consideration received or receivable.
Contract cost associated with contract revenue is recognised as expense by reference to the stage of completion of the contract activity at the end of the reporting period. Contract cost comprises of cost that relate directly to the specific contract, cost that are attributable to contract activity in general and can be allocated to the contract and such other cost as are specifically chargeable to the customer under the terms of the contract.
An expected loss on construction contract is recognized as an expense immediately when it is certain that the total contract costs will exceed the total contract revenue.
Revenue from scrap sale
Sale of waste paper and scrap is recognised when the significant risk and rewards of ownership have passed on to the buyers.
Other revenue
Gain or Loss on derecognition of financial asset is determined as the difference between the sale price (net of selling costs) and carrying value of financial asset.
Interest income is recognised using effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash receipts through expected life of the financial asset to the gross carrying amount of the financial asset.When calculating the effective interest rate, the company estimates the expected cash flows by considering all the contractual terms of the financial instrument but does not consider the expected credit losses.
Dividend income is recognised when the right to receive the dividend is established.
All other incomes are recognised and accounted for on accrual basis.
3.2 Property, Plant and Equipment
Property, Plant and Equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any.
The cost comprises the purchase price, borrowing cost if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for its intended use. Any trade discounts and rebates are deducted in arriving at the purchase price.
Subsequent expenditures relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the company and the cost of the item can be measured reliably.
All other expenses on existing fixed assets, including day-to-day repair and maintenance expenditure and cost of replacing parts, are charged to the statement of profit and loss for the period during which such expenses are incurred.
Property, Plant and Equipment not ready for the intended use on the date of the Balance Sheet are disclosed as "Capital work-in-progress".
Gains or losses arising from derecognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying amount of the asset at the time of disposal and are recognized in the statement of profit and loss when the asset is derecognized.
Depreciation on Property, Plant and Equipment, other than plant and machinery, is provided on written down value method and depreciation on plant and machinery is provided on Straight line method (SLM) basis as per the useful life prescribed under Schedule II to the Companies Act, 2013.
In respect of Property, Plant and Equipment purchased during the year, depreciation is provided on a pro-rata basis from the date on which such asset is ready to use.
The residual value, useful life and method of depreciation of Property, Plant and Equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.
3.3 Intangible assets
An intangible asset is recognised, only where it is probable that future economic benefits attributable to the asset will accrue to the enterprise and the cost can be measured reliably.
a Advertisement right
Intangible assets are stated at cost, less accumulated amortization and impairment losses, if any.
Advertisement rights granted by Vadodara Municipal Corporation (VMC) are against construction service rendered by the Company on BOT basis.
Advertisement right cost comprises of direct and indirect expenses on construction of bus shelters in terms of Concession Agreement.
Subsequent expenditure related to an item of intangible assets is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance.
All other expenses on existing intangible assets are charged to the statement of profit and loss for the period during which such expenses are incurred.
Intangible assets are amortized on straight line basis over concession period.
b Other intangible assets
Intangible assets are stated at cost, less accumulated amortization and impairment losses, if any.
Intangible assets not ready for the intended use on the date of the Balance Sheet are disclosed as intangible assets under development.
Separately purchased intangible assets are initially measured at cost. Subsequently, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses, if any.
The useful lives of intangible assets are assessed as either finite or infinite. Finite-life intangible assets are amortized on a straight-line basis over the period of their expected useful lives. Intangible assets are amortized over a period of six years on straight line basis as per the useful life prescribed under Schedule II to the Companies Act, 2013. Intangible assets acquired / purchased during the year are amortised on a pro-rata basis from the date on which such assets are ready to use.
Intangible assets with an infinite useful life are not amortised. Such intangible assets are tested for impairment.
The residual value, useful life and method of amortization of intangible assets are reviewed at each financial year end and adjusted prospectively, if appropriate.
3.4 Investment Property
Investment Property is measured initially at cost including related transaction costs.
The cost comprises the purchase price, borrowing cost if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for its intended use.
Subsequent expenditures are capitalized only when it is probable that future economic benefits associated with these will flow to the company and the cost of the item can be measured reliably.
All day-to-day repair and maintenance expenditure are charged to the statement of profit and loss for the period during which such expenses are incurred.
Gains or losses arising from derecognition of investment property are measured as the difference between the net disposal proceeds and the carrying amount of the asset at the time of disposal and are recognized in the statement of profit and loss when the asset is derecognized.
3.5 Financial Instruments
3.5.1 Initial recognition
The company recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument.
All financial assets and liabilities are recognized at fair value on initial recognition except for trade receivables which are initially measured at transaction price.
Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through profit or loss are added to or deducted from the fair value of financial assets or financial liabilities on initial recognition.
Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.
Trade receivable that do not contain significant financing component are measured at transaction price.
Regular purchase and sale of financial assets are accounted for at trade date.
3.5.2 Subsequent measurement
a Derivatives financial Instrument
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each Balance Sheet date. Fair value changes and Gain / loss on de-recognisation of derivative financial instrument are recognised in the Statement of Profit and Loss.
b Non-derivative financial instruments
i Financial assets carried at amortized cost
A financial asset is subsequently measured at amortized cost if it is held within a business model whose
objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
ii Financial assets at fair value through other comprehensive income
A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
The Company has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model. For such equity instruments, the subsequent changes in fair value are recognized in other comprehensive income.
iii Financial assets at fair value through profit or loss
A financial asset which is not classified in any of the above categories are subsequently measured at fair value through profit or loss. Fair value changes are recognised as other income in the Statement of Profit or Loss.
iv Financial liabilities
Financial liabilities are subsequently carried at amortized cost using the effective interest method.
v I nvestments in subsidiaries, associates and joint ventures
Investments in subsidiaries, associates and joint ventures are carried at cost in the separate financial statements.
c Equity instruments
An equity instrument is a contract that evidences
residual interest in the assets of the company after
deducting all of its liabilities. Incremental costs directly attributable to the issuance of equity instruments are recognised as a deduction from equity instrument net of any tax effects.
3.5.3 Derecognition
The company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109.A financial liability is derecognized when obligation specified in the contract is discharged or cancelled or expires.
3.5.4 Off-setting
Financial assets and liabilities are offset and the net amount is presented in the balance sheet when the company currently has a legally enforceable right to offset the recognised amount and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.
3.6 Fair Value Measurement
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 assumes 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
A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic benefit by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.
The company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:
Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities
Level 2 - inputs are other than quoted prices included within level 1 that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived prices)
Level 3 - inputs are not based on observable market data (unobservable inputs).Fair values are determined in whole or in part using a valuation model based on assumption that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.
3.7 Income tax
Income tax expense comprises current tax and deferred tax.
3.7.1 Current Tax
Current tax is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity, respectively.
Current tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date.
Current tax assets and current tax liabilities are offset, where company has a legally enforceable right to set off the recognised amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.
3.7.2 Deferred Tax
Deferred tax is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the deferred tax is also recognised in other comprehensive income or directly in equity, respectively.
Deferred tax liabilities are recognised for all taxable temporary differences, except to the extent that the deferred tax liability arises from initial recognition of goodwill; or initial recognition of an asset or liability in a transaction which is not a business combination and at the time of transaction, affects neither accounting profit nor taxable profit or loss.
Deferred tax assets are recognised for all deductible temporary differences, carry forward of unused tax losses and carry forward of unused tax credits to the extent that it is probable that taxable profit will be available against which those temporary differences, losses and tax credit can be utilized, except when deferred tax asset on deductible temporary differences arise 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 accounting profit nor taxable profit or loss.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on the tax rules and tax laws that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets and deferred tax liabilities are offset, where company has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.
Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.
3.8 Impairment
3.8.1 Financial assets other than investments in subsidiaries and associates
The company recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair valued through profit or loss.
Loss allowance for trade receivables with no significant financing component is measured at an amount equal to lifetime ECL.
For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL.
The impairment loss allowance (or reversal) recognised during the period is recognised as income / expense in the statement of profit and loss.
3.8.2 Financial assets - investments in subsidiaries and associates
The company assesses at each reporting date whether there is an indication that an asset may be impaired. Such indication include, though are not limited to, significant or sustained decline in revenues or earnings and material adverse changes in the economic environment.
If any indication exists, the company estimates the asset''s recoverable amount based on value in use.
To calculate value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market rates and the risk specific to the asset
Where the carrying amount of an asset exceeds its value in use amount, the asset is considered impaired and is written down to its recoverable amount. The impairment loss is recognised in statement of profit and loss.
3.8.3 Non-financial assets Tangible and intangible assets
The company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists the company estimates the asset''s recoverable amount.
An asset''s recoverable amount is the higher of an assets net selling price and its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets.
Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. The impairment loss is recognised in the statement of profit and loss.
In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
In determining net selling price, recent market transactions are taken into account, if available. If no
such transactions can be identified, an appropriate valuation model is used.
3.9 Lease
Company as lessee
The Company''s lease asset classes primarily consist of leases for Office building. The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether:
(i) the contract involves the use of an identified asset
(ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use (ROU) asset and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low value leases. For these short-term and low-value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.
The ROU assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses.
ROU assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset.
The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of these leases.
Lease liability and ROU assets have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.
Advance lease payment made for the entire life of the lease is amortised over a lease period.
3.10 Borrowing costs
Borrowing cost includes interest and other costs that company has incurred in connection with the borrowing of funds.
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 year they occur.
Investment income earned on temporary investment of specific borrowing pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.
3.11 Employee Benefits
Short term employee benefits for salary and wages including accumulated leave that are expected to be settled wholly within 12 months after the end of the reporting period in which employees render the related service are recognized as an expense in the statement of profit and loss.
As per Company''s policy, no leave is expected to be carried forward.
Retirement benefit in the form of provident fund is a defined contribution scheme. The company has no obligation, other than the contribution payable to the provident fund. The company recognizes contribution payable to the provident fund scheme as an expenditure, when an employee renders the related service.
The company operates one defined benefit plan for its employees, viz., gratuity plan. The costs of providing benefits under the plan are determined on the basis of actuarial valuation at each year-end. Actuarial valuation is carried out using the projected unit credit method made at the end of each reporting date. Remeasurement of the net defined benefit liability (asset) comprise of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset) and the return on plan assets (excluding amounts included in net interest on the net defined benefit liability / (asset)).Re-measurement are recognised in other comprehensive income and will not be reclassified to profit or loss in a subsequent period.
Mar 31, 2016
1. SIGNIFICANT ACCOUNTING POLICIES :
1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS:
The Company maintains its accounts on accrual basis following the historical cost convention except for the revaluation of certain fixed assets and in accordance with generally accepted accounting principles ["GAAP"] , including the Accounting Standards notified under the relevant provisions of the Companies Act, 2013.
2 USE OF ESTIMATES:
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates.
3 RECOGNITION OF INCOME :
(a) Advertisement revenue is recognized as and when advertisement is published/displayed/aired and is disclosed net of trade discounts and service tax.
(b) Sale of newspaper, magazine, waste paper and scrap is recognized when the significant risk and rewards of ownership have passed on to the buyers and is disclosed net of sales return and discounts.
(c) Sale of real estate is recognized when the significant risks and rewards of ownership have passed on to the customer.
(d) Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.
(e) Dividend income is recognized when the right to receive the dividend is established.
4 FIXED ASSETS & DEPRECIATION:
(a) Land and Buildings acquired up to 31-03-1994 are stated at revalued amount less accumulated depreciation.
(b) All Other Fixed Assets are stated at historical cost less accumulated depreciation.
(c) Cost includes all expenditure incurred to bring the assets to its present location and condition.
(d) Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.
(e) Depreciation in respect of additions to Machineries from 01-04-1992 is provided on straight line method and in respect of all other fixed assets on written down method.
(f) Depreciation in respect of addition and deletion of assets during the year is provided based on the actual number of days for which assets remained in use.
(g) Value of Tenancy rights is assessed at each balance sheet date for any impairment loss.
(h) Assets which are not ready for their intended use are disclosed under Capital Work-in -Progress.
5 IMPAIRMENT OF ASSETS :
As at each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine:
(a) the provision for impairment loss required, if any, or
(b) the reversal required in respect of impairment loss recognized in previous periods, if any Impairment loss is recognized when the carrying amount of an asset exceeds its recoverable amount.
6 INVENTORIES :
Inventories are valued after providing for obsolescence, as under:-
(a) Raw Materials, Stores, Gift articles and Finished goods. : At lower of cost or net realizable value. However, material and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. Cost is determined on a weighted average basis.
(b) Work in progress
1) Publication : At lower of cost or net realizable value.
2) Construction : At lower of cost or net realizable value.
(c) Trading Goods
1) Shares/Units : At cost or fair value, whichever is lower.
2) Other : At lower of cost or net realizable value.
7 INVESTMENTS :
Investments that are readily realizable and intended to be held for not more than a year are classified as current investments. All other investments are classified as long-term investment.
Long term investments are stated at cost. Provision is made for diminution in value, other than of temporary nature, of such investment.
Current investments are stated at lower of cost and fair value determined on an individual investment basis.
8 FOREIGN CURRENCY TRANSACTIONS :
Transactions of foreign currency are recorded at the exchange rate as applicable at the date of transactions. Monetary Assets / Liabilities outstanding at the close of the financial year are stated at the contracted and / or appropriate exchange rate at the close of the year and the gain / loss is credited / charged to Statement of Profit & Loss Account.
9 EMPLOYEE BENEFITS :
(a) Short term employee benefits are charged off in the year in which the related services are rendered.
(b) Defined Contribution Plan :
Contribution to Provident Fund and Pension Fund Scheme are paid in accordance with applicable statutes and deposited with the Regional Provident Fund Commissioner.
(c) Defined Benefit Plan :
Liabilities in respect of post employment benefit (gratuity) have been determined at present value of the amount payable towards contribution based on actuarial valuation made by an independent actuary as at the balance sheet date. The actuarial gains or losses are recognized immediately in the Statement of profit and loss account.
The Company makes contributions to a trust to fund the gratuity liability. Under this scheme, the obligation to pay gratuity remains with the Company.
10 SEGMENT ACCOUNTING :
Segment accounting policies are in line with the accounting policies of the Company, In addition, the following specific accounting policies have been followed for segment reporting:
(a) Segment revenue includes sales & other income directly identifiable with/allocable to the segment, including inter segment revenue.
(b) Expenses that are directly identifiable with/allocable to segments are considered for determining the Segment Result.
(c) Income/Expense which relate to the Company as a whole and not allocable to segments are included in "Unallowable Corporate Income/Expense".
(d) Segment assets & liabilities include those directly identifiable with the respective segments.
(e) Unallowable corporate assets and liabilities represent the assets & liabilities that relate to the Company as a whole and not allocable to any segment.
11 INCOME TAXES:
(a) Income tax charge or credit comprises current tax and deferred tax charge or credit.
(b) Current tax is provided at current tax rates based on assessable income.
(c) Deferred tax asset/liability are recognized at the tax rates and tax laws that have been enacted or substantively enacted by Balance Sheet date based on the tax effect of timing differences resulting from the recognition of items in the financial statements and in estimating its current tax provision. Deferred tax assets are recognized, if there is a reasonable certainty of realization. Deferred tax effects are reviewed at each Balance Sheet Dates.
12 PROVISIONS, CONTINGENT LIABILITIES & 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 recognized nor disclosed in the financial statements.
13 BORROWING COST:
Borrowing costs attributable to the acquisition and construction of assets are capitalized as part of the cost of such assets up to the date when such asset is ready for its intended use. Other borrowing cost are treated as revenue expenditure.
14 LEASES:
Leases are classified as operating leases where the less or effectively retains substantially all the risks and benefits of the ownership of the leased assets. Operating lease payments are expensed with reference to lease terms and other considerations.
15 GENERAL:
Accounting Policies not specifically referred to are consistent with generally accepted accounting practice.
(d) Rights, Preferences and Restrictions :
i The Company has only one class of equity shares referred to as equity shares having a par value of '' 10/- each. Each holder of equity share is entitled to one vote per share.
ii Dividends, if any, is declared and paid in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except interim dividend.
iii The Board of Directors had declared interim dividend @ '' 5/- per equity share of '' 10/- each (i.e. 50%) for the Financial Year 2015-16. Having declared Interim dividends, Board of Directors has not recommended a Final dividend for the Financial Year 2015-16
iv In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders. e 9,60,000 Equity shares were bought back in the financial year 2012-13.
Mar 31, 2015
1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS :
The Company maintains its accounts on accrual basis following the
historical cost convention except for the revaluation of certain fixed
assets and in accordance with generally accepted accounting principles
["GAAP"] , including the Accounting Standards notified under the
relevant provisions of the Companies Act, 2013.
2 USE OF ESTIMATES:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ
from these estimates.
3 RECOGNITION OF INCOME :
(a) Advertisement revenue is recognised as and when advertisement is
published/displayed/aired and is disclosed net of trade discounts and
service tax.
(b) Sale of newspaper, magazine, waste paper and scrap is recognised
when the significant risk and rewards of ownership have passed on to
the buyers and is disclosed net of sales return and discounts.
(c) Sale of real estate is recognised when the significant risks and
rewards of ownership have passed on to the customer.
(d) Interest income is recognised on a time proportion basis taking
into account the amount outstanding and the rate applicable.
(e) Dividend income is recognised when the right to receive the
dividend is established.
4 FIXED ASSETS & DEPRECIATION:
(a) Land and Buildings acquired up to 31-03-1994 are stated at revalued
amount less accumulated depreciation.
(b) All Other Fixed Assets are stated at historical cost less
accumulated depreciation.
(c) Cost includes all expenditure incurred to bring the assets to its
present location and condition.
(d) Depreciation is provided based on useful life of the assets as
prescribed in Schedule II to the Companies Act, 2013.
(e) Depreciation in respect of additions to Machineries from 01-04-1992
is provided on straight line method and in respect of all other fixed
assets on written down method.
(f) Depreciation in respect of addition and deletion of assets during
the year is provided based on the actual number of days for which
assets remained in use.
(g) Value of Tenancy rights is assessed at each balance sheet date for
any impairment loss.
(h) Assets which are not ready for their intended use are disclosed
under Capital Work-in -Progress.
5 IMPAIRMENT OF ASSETS :
As at each Balance Sheet date, the carrying amount of assets is tested
for impairment so as to determine:
(a) the provision for impairment loss required, if any, or
(b) the reversal required in respect of impairment loss recognised in
previous periods, if any Impairment loss is recognised when the
carrying amount of an asset exceeds its recoverable amount.
6 INVENTORIES :
Inventories are valued after providing for obsolescence, as under:- (a)
Raw Materials, Stores, Gift articles and Finished goods. : At lower of
cost or net realisable value. However, material and other items held
for use in the production of inventories are not written down below
cost if the finished products in which they will be incorporated are
expected to be sold at or above cost. Cost is determined on a weighted
average basis.
(b) Work in progress
1) Publication : At lower of cost or net realisable value.
2) Construction : At lower of cost or net realisable value.
(c) Trading Goods
1) Shares/Units : At cost or fair value, which ever is lower.
2) Other : At lower of cost or net realisable value.
7 INVESTMENTS :
Investments that are readily realisable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investment.
Long term investments are stated at cost. Provision is made for
diminution in value, other than of temporary nature, of such
investment.
Current investments are stated at lower of cost and fair value
determined on an individual investment basis.
8 FOREIGN CURRENCY TRANSACTIONS :
Transactions of foreign currency are recorded at the exchange rate as
applicable at the date of transactions. Monetary Assets / Liabilities
outstanding at the close of the financial year are stated at the
contracted and / or appropriate exchange rate at the close of the year
and the gain / loss is credited / charged to Statement of Profit & Loss
Account.
9 EMPLOYEE BENEFITS :
(a) Short term employee benefits are charged off in the year in which
the related services are rendered.
(b) Defined Contribution Plan :
Contribution to Provident Fund and Pension Fund Scheme are paid in
accordance with applicable statutes and deposited with the Regional
Provident Fund Commissioner.
(c) Defined Benefit Plan :
Liabilities in respect of post employment benefit (gratuity) have been
determined at present value of the amount payable towards contribution
based on actuarial valuation made by an independent actuary as at the
balance sheet date. The actuarial gains or losses are recognised
immediately in the Statement of profit and loss account.
The Company makes contributions to a trust to fund the gratuity
liability. Under this scheme, the obligation to pay gratuity remains
with the Company.
10 SEGMENT ACCOUNTING :
Segment accounting policies are in line with the accounting policies of
the Company, In addition, the following specific accounting policies
have been followed for segment reporting:
(a) Segment revenue includes sales & other income directly identifiable
with/allocable to the segment, including inter segment revenue.
(b) Expenses that are directly identifiable with/allocable to segments
are considered for determining the Segment Result.
(c) Income/Expense which relate to the Company as a whole and not
allocable to segments are included in "Unallocable Corporate
Income/Expense".
(d) Segment assets & liabilities include those directly identifiable
with the respective segments.
(e) Unallocable corporate assets and liabilities represent the assets &
liabilities that relate to the Company as a whole and not allocable to
any segment.
11 INCOME TAXES :
(a) Income tax charge or credit comprises current tax and deferred tax
charge or credit.
(b) Current tax is provided at current tax rates based on assessable
income.
(c) Deferred tax asset/liability are recognised at the tax rates and
tax laws that have been enacted or substantively enacted by Balance
Sheet date based on the tax effect of timing differences resulting from
the recognition of items in the financial statements and in estimating
its current tax provision. Deferred tax assets are recognised, if there
is a reasonable certainty of realisation. Deferred tax effects are
reviewed at each Balance Sheet Dates.
12 PROVISIONS, CONTINGENT LIABILITIES & 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.
13 BORROWING COST:
Borrowing costs attributable to the acquisition and construction of
assets are capitalized as part of the cost of such assets up to the
date when such asset is ready for its intended use. Other borrowing
cost are treated as revenue expenditure.
14 LEASES
Leases are classified as operating leases where the lessor effectively
retains substantially all the risks and benefits of the ownership of
the leased assets. Operating lease payments are expensed with reference
to lease terms and other considerations.
15 GENERAL:
Accounting Policies not specifically referred to are consistent with
generally accepted accounting practice.
Mar 31, 2014
1 Basis of Preparation of Financial Statements :
The Company maintains its accounts on accrual basis following the
historical cost convention except for the revaluation of certain fixed
assets and in accordance with generally accepted accounting principles
["GAAP"] , as well as in compliance with the Accounting Standards
referred to in Section 211(3C) and other requirements of the Companies
Act, 1956.
2 USE OF ESTIMATES:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management''s best
knowledge of current events and actions, actual results could differ
from these estimates.
3 RECOGNITION OF INCOME :
(a) Advertisement revenue is recognised as and when advertisement is
published/displayed/aired and is disclosed net of trade discounts and
service tax.
(b) Sale of newspaper, magazine, waste Paper and scrap is recognised
when the significant risk and rewards of ownership have passed on to
the buyers and is disclosed net of sales return and discounts.
(c) Sale of real estate is recognised when the significant risks and
rewards of ownership have passed on to the customer.
(d) Interest income is recognised on a time proportion basis taking
into account the amount outstanding and the rate applicable.
(e) Dividend income is recognised when the right to receive the
dividend is established.
4 FIXED ASSETS & DEPRECIATION:
(a) Land and Buildings acquired upto 31-03-1994 are stated at revalued
amount less accumulated depreciation.
(b) All Other Fixed Assets are stated at historical cost less
accumulated depreciation.
(c) Cost includes all expenditure incurred to bring the assets to its
present location and condition.
(d) Depreciation has been calculated in accordance with and at the
rates specified in Schedule XIV to the Companies Act, 1956.
(e) Depreciation in respect of additions to Machineries from 01-04-1992
is provided on straight line method and in respect of all other fixed
assets on written down method.
(f) Depreciation in respect of addition and deletion of assets during
the year is provided based on the actual number of days for which
assets remained in use.
(g) Value of Tenancy rights is assessed at each balance sheet date for
any impairment loss.
(h) Fixed Assets upto a value of Rs. 5000 are fully depreciated in the
year of its acquisition.
5 IMPAIRMENT OF ASSETS :
As at each Balance Sheet date, the carrying amount of assets is tested
for impairment so as to determine:
(a) the provision for impairment loss required, if any, or
(b) the reversal required in respect of impairment loss recognised in
previous periods, if any Impairement loss is recognised when the
carrying amount of an asset exceeds its recoverable amount.
6 INVENTORIES :
Inventories are valued after providing for obsolescence, as under:-
(a) Raw Materials, Stores, Gift articles and Finished goods. :
At lower of cost or net realisable value. However, material and other
items held for use in the production of inventories are not written
down below cost if the finished products in which they will be
incorporated are expected to be sold at or above cost. Cost is
determined on a weighted average basis.
(b) Work in progress
1) Publication : At about cost
2) Construction : At cost
(c) Trading Goods
1) Shares/Units : At cost or fair value, which ever is lower.
2) Other : At lower of cost or net realisable value.
7 INVESTMENTS :
Investments that are readily realisable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investment.
Long term investments are stated at cost. Provision is made for
diminution in value, other than of temporary nature, of such
investment.
Current investments are stated at lower of cost and fair value
determined on an individual investment basis.
8 FOREIGN CURRENCY TRANSACTIONS :
Transactions of foreign currency are recorded at the exchange rate as
applicable at the date of transactions. Monetary Assets / Liabilities
outstanding at the close of the financial year are stated at the
contracted and / or appropriate exchange rate at the close of the year
and the gain / loss is credited / charged to Statement of Profit & Loss
Account.
9 EMPLOYEE BENEFITS :
(a) Short term employee benefits are charged off in the year in which
the related services are rendered.
(b) Defined Contribution Plan :
Contribution to Provident Fund and Pension Fund Scheme are paid in
accordance with applicable statutes and deposited with the Regional
Provident Fund Commissioner.
(c) Defined Benefit Plan :
Liabilities in respect of post employment benefit (gratuity) have been
determined at present value of the amount payable towards contribution
based on actuarial valuation made by an independent actuary as at the
balance sheet date. The actuarial gains or losses are recognised
immediately in the Statement of profit and loss account.
The Company makes contributions to a trust to fund the gratuity
liability. Under this scheme, the obligation to pay gratuity remains
with the Company.
10 SEGMENT ACCOUNTING :
Segment accounting policies are in line with the accounting policies of
the Company, in addition, the following specific accounting policies
have been followed for segment reporting:
(a) Segment revenue includes sales & other income directly identifiable
with/allocable to the segment, including inter segment revenue.
(b) Expenses that are directly identifiable with/allocable to segments
are considered for determining the Segment Result.
(c) Income/Expense which relate to the Company as a whole and not
allocable to segments are included in "Unallocable Corporate
Income/Expense".
(d) Segment assets & liabilities include those directly identifiable
with the respective segments.
(e) Unallocable corporate assets and liabilities represent the assets &
liabilities that relate to the Company as a whole and not allocable to
any segment.
11 INCOME TAXES:
(a) Income tax charge or credit comprises current tax and deferred tax
charge or credit.
(b) Current tax is provided at current tax rates based on assessable
income.
(c) Deferred tax asset/liability are recognised at the tax rates and
tax laws that have been enacted or substantively enacted by Balance
Sheet date based on the tax effect of timing differences resulting from
the recognition of items in the financial statements and in estimating
its current tax provision. Deferred tax assets are recognised, if there
is a reasonable certainty of realisation. Deffered tax effects are
reviewed at each Balance Sheet Dates.
12 PROVISIONS, CONTINGENT LIABILITIES & 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.
13 BORROWING COST:
Borrowing costs attributable to the acquisition and construction of
assets are capitalized as part of the cost of such assets up to the
date when such asset is ready for its intended use. Other borrowing
cost are treated as revenue expenditure.
14 LEASES
Leases are classified as operating leases where the lessor effectively
retains substantially all the risks and benefits of the ownership of
the leased assets. Operating lease payments are expensed with reference
to lease terms and other considerations.
15 GENERAL:
Accounting Policies not specifically referred to are consistent with
generally accepted accounting practice.
Mar 31, 2013
1 Basis of Preparation of Financial Statements :
The Company maintains its accounts on accrual basis following the
historical cost convention except for the revaluation of certain fixed
assets and in accordance with generally accepted accounting principles
["GAAP"] , as well as in compliance with the Accounting Standards
referred to in Section 211(3C) and other requirements of the Companies
Act, 1956.
2 USE OF ESTIMATES:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management''s best
knowledge of current events and actions, actual results could differ
from these estimates.
3 RECOGNITION OF INCOME :
(a) Advertisement revenue is recognised as and when advertisement is
published/displayed/aired and is disclosed net of trade discounts and
service tax.
(b) Sale of newspaper, magazine, waste Paper and scrap is recognised
when the significant risk and rewards of ownership have passed on to
the buyers and is disclosed net of sales return and discounts.
(c) Sale of real estate is recognised when the significant risks and
rewards of ownership have passed on to the customer.
(d) Interest income is recognised on a time proportion basis taking
into account the amount outstanding and the rate applicable.
(e) Dividend income is recognised when the right to receive the
dividend is established.
4 FIXED ASSETS & DEPRECIATION:
(a) Land and Buildings acquired upto 31-03-1994 are stated at revalued
amount less accumulated depreciation.
(b) All Other Fixed Assets are stated at historical cost less
accumulated depreciation.
(c) Cost includes all expenditure incurred to bring the assets to its
present location and condition.
(d) Depreciation has been calculated in accordance with and at the
rates specified in Schedule XIV to the Companies Act, 1956.
(e) Depreciation in respect of additions to Machineries from 01-04-1992
is provided on straight line method and in respect of all other fixed
assets on written down method.
(f) Depreciation in respect of addition and deletion of assets during
the year is provided based on the actual number of days for which
assets remained in use.
(g) Value of Tenancy rights is assessed at each balance sheet date for
any impairment loss.
(h) Fixed Assets upto a value of Rs.5000 are fully depreciated in the
year of its acquisition.
5 IMPAIRMENT OF ASSETS :
As at each Balance Sheet date, the carrying amount of assets is tested
for impairment so as to determine:
(a) the provision for impairment loss required, if any, or
(b) the reversal required in respect of impairment loss recognised in
previous periods, if any Impairement loss is recognised when the
carrying amount of an asset exceeds its recoverable amount.
6 INVENTORIES :
Inventories are valued after providing for obsolescence, as under:-
(a) Raw Materials, Stores, Gift articles and Finished goods. : At lower
of cost or net realisable value. However, material and other items held
for use in the production of inventories are not written down below
cost if the finished products in which they will be incorporated are
expected to be sold at or above cost. Cost is determined on a weighted
average basis.
(b) Work in progress
1) Publication : At about cost
2) Construction : At cost
(c) Trading Goods
1) Shares/Units : At cost or fair value, which ever is lower.
2) Other : At lower of cost or net realisable value.
7 INVESTMENTS :
Investments that are readily realisable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investment.
Long term investments are stated at cost. Provision is made for
diminution in value, other than of temporary nature, of such
investment.
Current investments are stated at lower of cost and fair value
determined on an individual investment basis.
8 FOREIGN CURRENCY TRANSACTIONS :
Transactions of foreign currency are recorded at the exchange rate as
applicable at the date of transactions. Monetary Assets / Liabilities
outstanding at the close of the financial year are stated at the
contracted and / or appropriate exchange rate at the close of the year
and the gain / loss is credited / charged to Statement of Profit & Loss
Account.
9 EMPLOYEE BENEFITS :
(a) Short term employee benefits are charged off in the year in which
the related services are rendered.
(b) Defined Contribution Plan :
Contribution to Provident Fund and Pension Fund Scheme are paid in
accordance with applicable statutes and deposited with the Regional
Provident Fund Commissioner.
(c) Defined Benefit Plan :
Liabilities in respect of post employment benefit (gratuity) have been
determined at present value of the amount payable towards contribution
based on actuarial valuation made by an independent actuary as at the
balance sheet date. The actuarial gains or losses are recognised
immediately in the Statement of profit and loss account.
The Company makes contributions to a trust to fund the gratuity
liability. Under this scheme, the obligation to pay gratuity remains
with the Company.
10 SEGMENT ACCOUNTING :
Segment accounting policies are in line with the accounting policies of
the Company, In addition, the following specific accounting policies
have been followed for segment reporting:
(a) Segment revenue includes sales & other income directly identifiable
with/allocable to the segment, including inter segment revenue.
(b) Expenses that are directly identifiable with/allocable to segments
are considered for determining the Segment Result.
(c) Income/Expense which relate to the Company as a whole and not
allocable to segments are included in "Unallocable Corporate
Income/Expense".
(d) Segment assets & liabilities include those directly identifiable
with the respective segments.
(e) Unallocable corporate assets and liabilities represent the assets &
liabilities that relate to the Company as a whole and not allocable to
any segment.
11 INCOME TAXES :
(a) Income tax charge or credit comprises current tax and deferred tax
charge or credit.
(b) Current tax is provided at current tax rates based on assessable
income.
(c) Deferred tax asset/liability are recognised at the tax rates and
tax laws that have been enacted or substantively enacted by Balance
Sheet date based on the tax effect of timing differences resulting from
the recognition of items in the financial statements and in estimating
its current tax provision. Deferred tax assets are recognised, if there
is a reasonable certainty of realisation. Deffered tax effects are
reviewed at each Balance Sheet Dates.
12 PROVISIONS, CONTINGENT LIABILITIES & 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.
13 BORROWING COST:
Borrowing costs attributable to the acquisition and construction of
assets are capitalized as part of the cost of such assets up to the
date when such asset is ready for its intended use. Other borrowing
cost are treated as revenue expenditure.
14 LEASES
Leases are classified as operating leases where the lessor effectively
retains substantially all the risks and benefits of the ownership of
the leased assets. Operating lease payments are expensed with reference
to lease terms and other considerations.
15 GENERAL:
Accounting Policies not specifically referred to are consistent with
generally accepted accounting practice.
Mar 31, 2012
1 Basis of Preparation of Financial Statements :
The Company maintains its accounts on accrual basis following the
historical cost convention except for the revaluation of certain fixed
assets and in accordance with generally accepted accounting principles
["GAAP"] , as well as in compliance with the Accounting Standards
referred to in Section 211(3C) and other requirements of the Companies
Act, 1956.
2 USE OF ESTIMATES:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ
from these estimates.
3 RECOGNITION OF INCOME AND EXPENDITURE :
a) Income & expenditure are recognised on accrual basis. However,
certain escalation & other claims as well as certain income where there
is any uncertainity of its realisation or which are not ascertainable /
acknowledged by customers, are recognised as income on its realisation.
b) Dividend income is recognised when the right to receive the dividend
is established.
4 FIXED ASSETS :
a) Land and Buildings acquired upto 31-03-1994 are stated at revalued
figures less accumulated depreciation.
b) All Other Fixed Assets are stated at historical cost less
accumulated depreciation.
c) Cost includes all expenditure incurred to bring the assets to its
present location and condition.
5 DEPRECIATION :
(a) Depreciation has been calculated in accordance with and at the
rates specified in Schedule XIV to the Companies Act, 1956.
(b) Depriciation in respect of additions to Machineries from 01-04-1992
is provided on straight line method and in respect of all other fixed
assets on written down method.
(c) Depreciation in respect of addition and deletion of assets during
the year is provided based on the actual number of days for which
assets remained in use.
(d) Fixed Assets upto a value of Rs.5000 are fully depreciated in the
year of its acquisition.
6 IMPAIRMENT OF ASSETS :
As at each Balance Sheet date, the carrying amount of assets is tested
for impairment so as to determine:
(a) the provision for impairment loss required, if any, or
(b) the reversal required in respect of impairment loss recognised in
previous periods, if any Impairement loss is recognised when the
carrying amount of an asset exceeds its recoverable amount.
7 INVENTORIES :
Inventories are valued after providing for obsolescence, as under:-
(a) Raw Materials, Stores, Gift articles and Finished goods. : At lower
of cost or net realisable value.
(b) Work in progress
1) Publication : At about cost
2) Construction : At cost
(c) Waste : At net realisable value.
(d) Trading
1) Shares : At cost or fair value, which ever is lower.
2) Other : At lower of cost or net realisable value.
Cost for this purpose is ascertained on First In First Out (FIFO)
basis.
8 INVESTMENTS :
Long term investments are stated at cost. Provision is made for
diminution in value, other than of temporary nature, of such
investment.
Current investments are stated at lower of cost and fair value.
9 FOREIGN CURRENCY TRANSACTIONS :
Transactions of foreign currency are recorded at the exchange rate as
applicable at the date of transactions. Monetary Assets / Liabilities
outstanding at the close of the financial year are stated at the
contracted and / or appropriate exchange rate at the close of the year
and the gain / loss is credited / charged to Profit & Loss Account.
10 RETIREMENT BENEFITS :
(a) Short term employee benefits are charged off in the year in which
the related services are rendered.
(b) Defined Contribution Plan :
Contribution to Provident Fund and Pension Fund Scheme are paid in
accordance with applicable statutes and deposited with the Regional
Provident Fund Commissioner.
(c) Defined Benefit Plan :
Liabilities in respect of post employment benefit (gratuity) have been
determined at present value of the amount payable towards contribution
based on actuarial valuation made by an independent actuary as at the
balance sheet date. The actuarial gains or losses are recognised
immediately in the profit and loss account.
11 SEGMENT ACCOUNTING :
Segment accounting policies are in line with the accounting policies of
the Company, In addition, the following specific accounting policies
have been followed for segment reporting:
(a) Segment revenue includes sales & other income directly identifiable
with/allocable to the segment, including inter segment revenue.
(b) Expenses that are directly identifiable with/allocable to segments
are considered for determining the Segment Result.
(c) Income/Expense which relate to the Company as a whole and not
allocable to segments are included in "Unallocable Corporate
Income/Expense".
(d) Segment assets & liabilities include those directly identifiable
with the respective segments.
(e) Unallocable corporate assets and liabilities represent the assets &
liabilities that relate to the Company as a whole and not allocable to
any segment.
12 INCOME TAXES:
a) Income tax charge or credit comprises current tax and deferred tax
charge or credit.
b) Current tax is provided at current tax rates based on assessable
income.
c) Deferred tax asset/liability is recognised at the tax rates and tax
laws that have been enacted or substantively enacted by Balance Sheet
date based on the tax effect of timing differences resulting from the
recognition of items in the financial statements and in estimating its
current tax provision. Deferred tax assets are recognised, if there is
a reasonable certainty of realisation. Deffered tax effects are
reviewed at each Balance Sheet Date.
13 PROVISIONS, CONTINGENT LIABILITIES & 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.
14 BORROWING COST:
Borrowing costs attributable to the acquisition and construction of
assets are capitalized as part of the cost of such assets up to the
date when such asset is ready for its intended use. Other borrowing
cost are treated as revenue expenditure.
15 GENERAL:
Accounting Policies not specifically referred to are consistent with
generally accepted accounting practice.
Mar 31, 2011
1 Basis of Preparation of Financial Statements :
The Company maintains its accounts on accrual basis following the
historical cost convention except for the revaluation of certain fixed
assets and in accordance with generally accepted accounting principles
["GAAP"] , as well as in compliance with the Accounting Standards
referred to in Section 211(3C) and other requirements of the Companies
Act, 1956.
2 USE OF ESTIMATES:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon managements best
knowledge of current events and actions, actual results could differ
from these estimates.
3 RECOGNITION OF INCOME AND EXPENDITURE :
a) Income & expenditure are recognised on accrual basis. However,
certain escalation & other claims as well as certain income where there
is any uncertainity of its realisation or which are not ascertainable /
acknowledged by customers, are recognised as income on its realisation.
b) Dividend income is recognised when the right to receive the dividend
is established.
4 FIXED ASSETS :
a) Land, Buildings and Machineries acquired upto 31-03-1994 are stated
at revalued figures less accumulated depreciation.
b) All Other Fixed Assets are stated at historical cost less
accumulated depreciation.
c) Cost includes all expenditure of incurred to bring the assets to its
present location and condition.
5 DEPRECIATION :
(a) Depreciation has been calculated in accordance with and at the
rates specified in Schedule XIV to the Companies Act, 1956.
(b) Depriciation in respect of additions to Machineries from 01-04-1992
is provided on straight line method and in respect of all other fixed
assets on written down method.
(c) Depreciation in respect of addition and deletion of assets during
the year is provided based on the actual number of days for which
assets remained in use.
(d) Fixed Assets upto a value of Rs.5000 are fully depreciated in the
year of its acquisition.
6 IMPAIRMENT OF ASSETS :
As at each Balance Sheet date, the carrying amount of assets is tested
for impairment so as to determine:
(a) the provision for impairment loss required, if any, or
(b) the reversal required in respect of impairment loss recognised in
previous periods, if any Impairement loss is recognised when the
carrying amount of an asset exceeds its recoverable amount.
7 INVENTORIES :
Inventories are valued after providing for obsolescence, as under:- (a)
Raw Materials, Stores, Gift articles and Finished goods. : At lower of
cost or net realisable value.
(b) Work in progress
1) Publication :At about cost
2) Construction/Real Estate : At cost
(c) Waste :At net realisable value.
(d) Trading
1) Shares/Units : At cost or fair value, which ever is lower.
2) Other : At lower of cost or net realisable value. Cost for this
purpose is ascertained on First In First Out (FIFO) basis.
8 INVESTMENTS :
Long term investments are stated at cost. Provision is made for
diminition in value, other than of temporary nature, of such
investment.
Current investments are stated at lower of cost and fair value.
9 FOREIGN CURRENCY TRANSACTIONS :
Transactions of foreign currency are recorded at the exchange rate as
applicable at the date of transactions. Monetary Assets / Liabilities
outstanding at the close of the financial year are stated at the
contracted and / or appropriate exchange rate at the close of the year
and the gain / loss is credited / charged to Profit & Loss Account.
10 RETIREMENT BENEFITS :
(a) Short term employee benefits are charged off in the year in which
the related services are rendered.
(b) Defined Contribution Plan :
Contribution to Provident Fund and Pension Fund Scheme are paid in
accordance with applicable statutes and deposited with the Regional
Provident Fund Commissioner.
(c) Defined Benefit Plan :
Liabilities in respect of post employment benefit (gratuity) have been
determined at present value of the amount payable towards contribution
based on actuarial valuation made by an independent actuary as at the
balance sheet date. The actuarial gains or losses are recognised
immediately in the profit and loss account.
11 SEGMENT ACCOUNTING :
Segment accounting policies are in line with the accounting policies of
the Company, in addition, the following specific accounting policies
have been followed for segment reporting:
(a) Segment revenue includes sales & other income directly identifiable
with/allocable to the segment, including inter segment revenue.
(b) Expenses that are directly identifiable with/allocable to segments
are considered for determining the Segment Result.
(c) Income/Expense which relate to the Company as a whole and not
allocable to segments are included in "Unallocable Corporate
Income/Expense".
(d) Segment assets & liabilities include those directly identifiable
with the respective segments.
(e) Unallocable corporate assets and liabilities represent the assets &
liabilities that relate to the Company as a whole and not allocable to
any segment.
12 INCOME TAXES :
a) Income tax charge or credit comprises current tax and deferred tax
charge or credit.
b) Current tax is provided at current tax rates based on assessable
income.
c) Deferred tax asset/liability are recognised at the tax rates and tax
laws that have been enacted or substantively enacted by Balance Sheet
date based on the tax effect of timing differences resulting from the
recognition of items in the financial statements and in estimating its
current tax provision. Deferred tax assets are recognised, if there is
a reasonable certainty of realisation. Deffered tax effects are
reviewed at each Balance Sheet Dates.
13 PROVISIONS, CONTINGENT LIABILITIES & 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.
14 BORROWING COST:
Borrowing costs attributable to the acquisition and construction of
assets are capitalized as part of the cost of such assets up to the
date when such asset is ready for its intended use. Other borrowing
cost are treated as revenue expenditure.
15 GENERAL:
Accounting Policies not specifically referred to are consistent with
generally accepted accounting practice.
Mar 31, 2010
1 Basis of Preparation of Financial Statements :
The Company maintains its accounts on accrual basis following the
historical cost convention except for the revaluation of certain fixed
assets and in accordance with generally accepted accounting principles
["GAAP"], as well as in compliance with the Accounting Standards
referred to in Section 211(3C) and other requirements of the Companies
Act, 1956.
2 USE OF ESTIMATES:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon managements best
knowledge of current events and actions, actual results could differ
from these estimates.
3 RECOGNITION OF INCOME AND EXPENDITURE :
a) Income & expenditure are recognised on accrual basis. However,
certain escalation & other claims as well as certain income where there
is any uncertainly of its realisation or which are not ascertainable /
acknowledged by customers, are recognised as income on its realisation.
b) Dividend income is recognised when the right to receive the dividend
is established.
4 FIXED ASSETS :
a) Land, Buildings and Machineries acquired upto 31-03-1994 are stated
at revalued figures less accumulated depreciation.
b) All Other Fixed Assets are stated at historical cost less
accumulated depreciation.
c) Cost includes all expenditure incurred to bring the assets to its
present location and condition.
5 DEPRECIATION :
(a) Depreciation has been calculated in accordance with and at the
rates specified in Schedule XIV to the Companies Act, 1956.
(b) Depriciation in respect of additions to Machineries from 01-04-1992
is provided on straight line method and in respect of all other fixed
assets on written down method.
(c) Depreciation in respect of addition and deletion of assets during
the year is provided based on the actual number of days for which
assets remained in use.
(d) Fixed Assets upto a value of Rs.5000 are fuLly depreciated in the
year of its acquisition.
6 IMPAIRMENT OF ASSETS :
As at each Balance Sheet date, the carrying amount of assets is tested
for impairment so as to determine:
(a) the provision for impairment loss required, if any, or
(b) the reversal required in respect of impairment loss recognised in
previous periods, if any Impairement loss is recognised when the
carrying amount of an asset exceeds its recoverable amount.
7 INVENTORIES:
Inventories are valued after providing for obsolescence, as under:-
(a) Raw MateriaLs, Stores, Gift articles and Finished goods. : At
lower of cost or net realisable value.
(b) Work in progress
1) Publication : At about cost
2) Construction : At cost
(c) Waste : At net realisable value.
(d) Trading
1) Shares/Units : At cost or fair value, which ever is lower.
2) Other : At lower of cost or net realisable value. Cost for this
purpose is ascertained on First In First Out (FIFO) basis.
8 INVESTMENTS:
Long term investments are stated at cost. Provision is made for
diminution in value, other than of temporary nature, of such
investment.
Current investments are stated at Lower of cost and fair value.
9 RETIREMENT BENEFITS :
(a) Short term employee benefits are charged off in the year in which
the related services are rendered.
(b) Defined Contribution Plan :
Contribution to Provident Fund and Pension Fund Scheme are paid in
accordance with applicable statutes and deposited with the Regional
Provident Fund Commissioner.
(c) Defined Benefit Plan :
Liabilities in respect of post employment benefit (gratuity) have been
determined at present value of the amount payable towards contribution
based on actuarial valuation made by an independent actuary as at the
balance sheet date. The actuarial gains or losses are recognised
immediately in the profit and loss account.
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Sandesh Ltd. Company Details
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Sandesh Ltd. Key Financial Ratios
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Sandesh Ltd. Results
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Sandesh Ltd. Corporate Announcements
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