Accounting Policies of Shakti Press Ltd. Company

Mar 31, 2024

1.3 Significant Accounting Policies

i) Basis of preparation of financial statements.

These financial statements are prepared in accordance with Indian Accounting Standards
(Ind AS) as per Companies (Indian Accounting Standards) Rules, 2015 notified under
Section 133 of Companies Act 2013, (the ''Act'') and other relevant provisions of the Act.

ii) Property, plant and equipment

Property, plant and equipment are stated at historical cost less depreciation. Historical cost
includes expenditure that is directly attributable to the acquisition of the items. Subsequent
costs are included in the asset''s carrying amount or recognized as a separate asset, as
appropriate, only when it is probable that future economic benefits associated with the item
will flow to the Company and the cost of the item can be measured reliably. The carrying
amount of any component accounted for as a separate asset is derecognized when replaced.
All other repairs and maintenance are recognized in profit or loss during the reporting
period, in which they are incurred.

iii) Impairment of non-financial assets

Assessment is done at each balance sheet date as to whether there is any indication that an
asset may be impaired. If any such indication exists or when annual impairment testing for
an asset is required, an estimate of the recoverable amount of the asset/cash generating
unit is made. Recoverable amount is higher of an asset''s or cash generating unit''s fair value
less costs of disposal and its value in use. Value in use is the present value of estimated
future cash flows expected to arise from the continuing use of an asset and from its disposal
at the end of its useful life. For the purpose of assessing impairment, 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 group of assets. The
smallest identifiable group of assets that generates cash inflows from continuing use that
are largely independent of the cash inflows from other assets or groups of assets, is

considered as a cash generating unit [CGU). An asset or CGU whose carrying value exceeds
its recoverable amount is considered impaired and is written down to its recoverable
amount. Assessment is also done at each balance sheet for possible reversal of an
impairment loss recognized for an asset, in prior accounting periods.

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iv) Valuation of Inventories

Raw Materials and work in progress have been valued at cost and Finished Goods has been
valued at Cost or Net Realizable Value, whichever is lower. Valuation is done and certified
by the Management.

v) Investments

Fair Value of Investments in shares of various company is non-determinable by
management being unlisted companies. Hence, investments have been stated at cost.

vi) Revenue Recognition

Revenue is measured at the fair value of consideration received or receivable, [net of goods
and services tax). Revenue is recognized when the amount of revenue can be reliably
measured, and it is probable that future economic benefits will flow to the entity.

vii) Security Deposit

Security deposit doesn’t have a determinable fixed period hence the same has not been
discounted.

viii) Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash in hand, amount at banks and
other short-term deposits with an original maturity of three months or less that are readily
convertible to known amount of cash and, which are subject to an insignificant risk of
changes in value. For the purpose of the statement of cash flows, cash and cash equivalents
consist of cash and short-term deposits, as defined above, net of outstanding bank
overdrafts as they are considered an integral part of the company’s cash management.

(fain

For and on behalf of the Board As per our report of even date

of Directors of SHAKTI PRESS LIMITED For, D P SARDA & CO

1\ f\ Chartered Accountants

^{FRN ll7227w}

RAGHAVSHARMA / t J -

DIN:00588740

MANAGING DIRECTOR (H (Y J

f\ y'' JJ CA Pavan Gahukar

11^— Partner

ARAVirfD MODAK MRN 140097

DIN:08681473 UDIN:24140097BKHIEX2599

DIRECTOR

/I V / Place: Nagpur

[ / _]jyy Date: 28/05/2024

BERNl^rwOMi
PAN:^Ap?W9156F

I^NAGPURj^l

Vsk

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Mar 31, 2023

Data Not Available

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Jun 30, 2013

A) General :-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting and are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :-

Fixed assets are stated at cost excluding taxes and excise duty but include freight and other incidental expenses incurred in relation to acquisition and installation of the same. CENVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Income Tax According to the Accounting standard 22

As there is no taxable profit therefore the provision for Income Tax has not been made. d)Sales :-

Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at gross realizable value i.e. inclusive of freight and packing and forwarding charges recovered but exclusive of Excise Duty, Education Cess and Sales Tax / MVAT.

e) Employees Retirement Benefits :-

Company''s contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis.

f) Inventories :-

Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market / net realisable value.

g) Miscellaneous / Deferred Revenue / Preliminary Expenses

Preliminary and Share issue expenses are being amortized over a period of ten years. h) Loans :- Debit balance of Rs.80,60,469/- in SBI FCNR Term Loan is in fact excess payment to be adjusted against Rupee Term Loan account of Rs.6,96,95,842.19/-. Both accounts are not reconciled as per bank accounts and are pending set-off against each other in view of SBI stand of companies account as per NPA w.e.f. 01.07.08.

i) Listing : -

j) The equity shares companies were relisted w.e.f. 27.02.09.

k) The provision for bank interest payable on SBI Term Loan Rupee A/c has not been made for current year Rs 5,21,84,845/-

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Jun 30, 2012

A) General :-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting and are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :-

Fixed assets are stated at cost excluding taxes and excise duty but include freight and other incidental expenses incurred in relation to acquisition and installation of the same. CENVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation :-

Depreciation on fixed assets have been provided on the Straight Line Method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended on single shift basis as the plants have operated on single shift only. Depreciation is charged on revaluation difference on value of assets revalued and is debited to Revaluation Reserve Account.

d) Income Tax According to the Accounting standard 22

As there is no taxable profit therefore the provision for Income Tax has not been made.

e) Investments :-

Investments are stated at cost. Investments made in shares of Smata Sahakari Bank Ltd., Enbee Plantation Ltd. are doubtful as the concerns are in liquidation / winding up. The investments are at purchase cost but their current market price is lower than the mentioned figure.

f) Sales :-

Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at gross realizable value i.e. inclusive of freight and packing and forwarding charges recovered but exclusive of Excise Duty, Education Cess and Sales Tax / MVAT.

g) Employees Retirement Benefits :-

Company's contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis.

h) Inventories :-

Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market / net realisable value.

i) Miscellaneous / Deferred Revenue / Preliminary Expenses

Preliminary and Share issue expenses are being amortized over a period of ten years.

j) Loans :-

Debit balance of Rs.80,60,469/- in SBI FCNR Term Loan is in fact excess payment to be adjusted against Rupee Term Loan account of Rs. 6,96,95,842.19/-. Both accounts are reconciled as per bank accounts and are pending set-off against each other in view of SBI stand of companies account as per NPA w.e.f. 01.07.08.

k) Listing : -

l) The equity shares companies were relisted w.e.f. 27.02.09.

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Jun 30, 2011

A) General :- The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting and are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :- Fixed assets are stated at cost excluding taxes and excise duty but include freight and other incidental expenses incurred in relation to acquisition and installation of the same. CENVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation :- Depreciation on fixed assets have been provided on the Straight Line Method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended on single shift basis as the plants have operated on single shift only. Depreciation is charged on revaluation difference on value of assets revalued and is debited to Revaluation Reserve Account.

d) Income Tax According to the Accounting standard 22

As there is no taxable profit therefore the provision for Income Tax has not been made.

e) Investments :- Investments are stated at cost. Investments made in shares of Smata Sahakari Bank Ltd., Enbee Plantation Ltd. are doubtful as the concerns are in liquidation / winding up. The investments are at purchase cost but their current market price is lower than the mentioned figure.

f) Sales :- Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at gross realizable value i.e. inclusive of freight and packing and forwarding charges recovered but exclusive of Excise Duty, Education Cess and Sales Tax / MVAT.

g) Employees Retirement Benefits :- Company's contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis.

h) Inventories :- Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market / net realisable value.

i) Miscellaneous / Deferred Revenue / Preliminary Expenses

Preliminary and Share issue expenses are being amortized over a period of ten years.

j) Loans :-

Debit balance of Rs80,60,469/- in SBI FCNR Term Loan is in fact excess payment to be adjusted against Rupee Term Loan account of Rs6,96,95,842.19/-. Both accounts are reconciled as per bank accounts and are pending set-off against each other in view of SBI stand of companies account as per NPA w.e.f. 01.07.08.

k) Listing : -

l) The equity shares companies were relisted w.e.f. 27.02.09.

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Jun 30, 2010

A) General :- The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting and are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :- Fixed assets are stated at cost excluding taxes and excise duty but include freight and other incidental expenses incurred in relation to acquisition and installation of the same. CENVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation :- Depreciation on fixed assets have been provided on the Straight Line Method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended on single shift basis as the plants have operated on single shift only. Depreciation is charged on revaluation difference on value of assets revalued and is debited to Revaluation Reserve Account.

d) Income Tax According to the Accounting standard 22

As there is no taxable profit therefore the provision for Income Tax has not been made.

e) Investments :-

Investments are stated at cost. Investments made in shares of Smata Sahakari Bank Ltd., Enbee Plantation Ltd. are doubtful as the concerns are in liquidation / winding up. The investments are at purchase cost but their current market price is lower than the mentioned figure.

f) Sales :- Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at gross realizable value i.e. inclusive of freight and packing and forwarding charges recovered but exclusive of Excise Duty, Education Cess and Sales Tax / MVAT.

g) Employees Retirement Benefits :- Companys contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis.

h) Inventories :- Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market / net realisable value.

i) Miscellaneous / Deferred Revenue / Preliminary Expenses

Preliminary and Share issue expenses are being amortized over a period of ten years.

j) Loans :-

Debit balance of Rs. 80,60,469/- in SBI FCNR Term Loan is in fact excess payment to be adjusted against Rupee Term Loan account of Rs. 8,29,78,134.19/-. Both accounts are reconciled as per bank accounts and are pending set-off against each other in view of SBI stand of companies account as per NPA w.e.f. 01.07.08.

k) Listing : -

l) The equity shares companies were relisted w.e.f. 27.02.09.

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Mar 31, 2009

A) General :-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting and are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :-

Fixed assets are stated at cost excluding taxes and excise duty but include freight and other incidental expenses incurred in relation to acquisition and installation of the same. CENVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation :-

Depreciation on fixed assets have been provided on the Straight Line Method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended on single shift basis as the plants have operated on single shift only. Depreciation is charged on revaluation difference on value of assets revalued and is debited to Revaluation Reserve Account.

d) Income Tax According to the Accounting standard 22 :-

As there is no taxable profit therefore the provision for Income Tax has not been made.

e) Investments :-

Investments are stated at cost. Investments made in shares of Smata Sahakari Bank Ltd., Enbee Plantation Ltd. are doubtful as the concerns are in liquidation / winding up. The investments are at purchase cost but their current market price is lower than the mentioned figure.

f) Sales :-

Sales are recognised, net of returns, on dispatch of goods to customers and are reflected in the accoun at gross realizable value i.e. inclusive of freight and packing and forwarding charges recovered b exclusive of Excise Duty, Education Cess and Sales Tax / MVAT.

g) Employees Retirement Benefits :-

Companys contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis. h) Inventories :- Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market / net realisable value. i) Miscellaneous / Deferred Revenue / Preliminary Expenses :- Preliminary and Share issue expenses are being amortized over a period of ten years.

i) Loans :-

Debit balance of Rs. 80,60,469/- in SBIFCNR Term Loan is in fact excess payment to be adjusted against Rupee Term Loan account of Rs. 8,29,78,134.19/-. Both accounts are reconciled as per bank accounts and are pending set-off against each other in view of SBI stand of companies account as per NPAw.e.f. 01.07.08.

j) Listing: -

The equity shares companies were relisted w.e.f. 27.02.09.

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Mar 31, 2008

A) General :-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting & are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :-

Fixed assets are stated at cost including taxes, freight and other incidental expenses incurred in relation to acquisition and installation of the same. CENVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets. The assets have been revalued during the year end as per Valuers Report dated 25.03.2008. Further the Company has valued brand image of its products viz Note Books / Stationery at Rs. 4.05 Crores from a professional firm and has Accounted for the same at the year end.

c) Depreciation :-

Depreciation on fixed assets have been provided on the Straight Line Method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended on single shift basis as the plants have operated on single shift only. The Assets have been revalued during the year end as per Valuers report dated 25.03.2008. No depreciation is charged on revaluation difference on values of assets revalued.

Income Tax According to the Accounting standard 22

As there is no taxable profit therefore the provision for Income Tax has not been made.

d) Investment]; :- Investments are stated at cost.

e) Sales :-

Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at gross realizable value i.e. inclusive of freight and packing and forwarding charges recovered but exclusive of Excise Duty, Education Cess and Sales Tax / MVAT.

f) Employees Retirement Benefits :

Companys contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis.

g) Inventories :-

Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market / net realisable value.

h) Miscellaneous / Deferred Revenue / Preliminary Expenses

Preliminary and Share issue expenses are being amortized over a period of ten years.

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Mar 31, 2007

1 The term Loan is secured by hypothecation and first charge on all Fixed Assets, now existing And belonging to and in possession and guaranteed by directors.

2 Secured by hypothecation of stocks of raw materials, finished products, book debts, other receivables and guaranteed by directors.

1. Significant Accounting Policies :-

a) General :-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting & are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :-

Fixed assets are stated at cost including taxes, freight and other incidental expenses incurred in relation to acquisition and installation of the same. CENVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation :-

Depreciation on fixed assets have been provided on the Straight Line Method at. the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended on single shift basis as the plants have operated on single shift only. .As the Accounts have been prepared for 9 months the depreciation has been charged on Prorata basis for 9 months on single shift basis. (I) Income Tax According to the Accounting standard 22

As mere is no taxable profit therefore the provision for Income Tax has not been made.

e) Investments :- Investments are stated at cost.

f) Sales :-

Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at gross realizable value i.e. inclusive of freight and packing and forwarding charges recovered but exclusive of Excise Duty, Education Cess and Sales Tax / MVAT.

g) Employees Retirement Benefits :-

Companys contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis,

h) Inventories :-

Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in- process are valued at lower of cost or market / net realisable value,

i) Miscellaneous / Deferred Revenue / Preliminary Expenses

Preliminary and Share issue expenses are being amortized over a period often years.

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Jun 30, 2005

A) General :-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting & are in accordance with Mandatory Accounting Standards.

b) Fixed Assets :-

Fixed assets are stated at cost including taxes, freight and other incidental expenses incurred in relation to acquisition and installation of the same. MOD VAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation :-

Depreciation on fixed assets have been provided on the Straight Line Method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended.

d) Income Tax According to the Accounting standard 22

As there is no taxable profit therefore the provision for Income Tax has not been made.

e) Investments :-

Investments are stated at cost.

f) Sales :-

Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at gross realisable value i.e. inclusive of Excise Duty, Sales Tax recovered is excluded.

g) Employees Retirement Benefits :-

Companys contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of accrual valuation but is accounted for on actual payment basis.

h) Inventories :-

Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market/net realisable value.

i) Miscelleneous/Deferred Revenue/Preliminary Expenses

Preliminary and Share issue expenses are being amortised over a period of ten years.

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Jun 30, 2004

A) General :-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting.

b) Fixed Assets :-

Fixed assets are stated at cost including taxes, freight and other incidental expenses incurred in relation to acquisition and installation of the same. MODVAT credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation :-

Depreciation on fixed assets have been provided on the Straight Line Method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended

d) Capital work-in-progress :-

There is no capital work-in-progress.

e) Income Tax According to the Accounting standard 22

As there is no taxable profit therefore the provision for Income Tax has not been made.

f) The Company has only one business segment printing and its production facilities are located around Nagpur and business is scattered in entire India, business risks and returns with one product only hence segment wise reporting is not necessary as specified in Accounting Standard 17

g) Investments :-

Investments are stated at cost.

h) Sales :-

Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at goss realisable value i.e. inclusive of Excise Duty, Sales Tax recovered is excluded

i) Employees Retirement Benefits -

Companys contribution to Provident Fund is charged to Profit and Loss Account Provision for gratuity liability and for value of unutilized leave due to employees is not made on the basis of Actuarial valuation but is accounted for on actual payment basis.

j) Inventories :-

Raw materials, stores, spare parts, loose tools and equipment are valued at cost Finished products and stock-in-process are valued at lower of cost or market/net realisable value

k) Deferred Revenue Expenses

Preliminary and Share issue expenses are being amortised over a period often years.

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Jun 30, 2002

A) General:-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting.

b) Fixed Assets:-

Fixed assets are stated at cost including taxes, freight and other incidental expenses incurred in relation to acquisition and installation of the same. Modvat credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

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Jun 30, 2001

A) General:-

The accounts of the Company are prepared under the historical cost convention using the accrual method of accounting.

b) Fixed Assets:-

Fixed assets are stated at cost including taxes, freight and other incidental expenses incurred in relation to acquisition and installation of the same. Modvat credit available under Central Excise Act, 1944 and Custom Act, 1962 if any, are excluded from the value of the fixed assets.

c) Depreciation:-

Depreciation on fixed assets have been provided on the Straight Line method at the rates and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended.

d) Capital work-in-progress:-

Projects under commissioning and other capital work-in-progress are carried at cost, comprising direct cost, related incidental expenses and attributable interest.

e) investments:-

investments are stated at cost.

f) Sales:-

Sales are recognised, net of returns, on despatch of goods to customers and are reflected in the accounts at Gross realisable value i. e. inclusive of excise duty, Sales Tax recovered is excluded.

g) Employees Retirement Benefits:-

Company's contribution to Provident Fund is charged to Profit and Loss Account. Provision for gratuity liability and for value of unutilised leave due to employees is not made on the basis of Actuarial valuation but is accounted for on actual payment basis.

h) Inventories:-

Raw materials, stores, spare parts, loose tools and equipment are valued at cost. Finished products and stock-in-process are valued at lower of cost or market/net realisable value.

i) Deferred Revenue Expenses

Preliminary and Share issue expenses are being amortised over a period of ten years.

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Jun 30, 1999

1) Accounting Convention :-

The Financial statements have been prepared in accordance with applicable accounting standards and the relevant present requirement of the Companies Act, 1956, and are based on historical cost going concern and accrual basis of accounting unless otherwise stated.

2) Fixed Assets :-

i) Fixed Assets are stated at cost less depreciation. Cost includes purchase price, freight and installation expenses.

3) Depreciation :-

i) Depreciation on fixed assets have been provided on straight Line Method, as per clarification and at the rates prescribed in schedule XIV of the Companies Act, 1956 on Prorata basis.

ii) Depreciation on additions/deductions during the period has been provided on prorata basis with reference to the month of addition/deduction.

4) Sales :-

The Company has exemption from sales tax & as such the sales are inclusive only of packing & forwarding charges.

5) Gratuity Liability :-

The Company has not made any provision for gratuity liability which shall be accounted on cash basis as certified by the management.

6) Inventories :-

a) Stock of Raw materials is valued at cost.

b) Stock of finished goods is valued at cost of production.

c) Work in progress is valued at estimated direct cost.

7) Interest on NSC :-

Interest on National Saving Certificates will be accounted for on maturity.

8) Preliminary and Issue Expenses :-

Preliminary and Issue Expenses will be written off/amortised over a period of ten years on pro-rata basis.

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Jun 30, 1998

1) Accounting Convention :

The Financial statements have been prepared in accordance with applicable accounting standards and the relevant present requirement of the Companies Act, 1956, and are based on historical cost, going concern and accrual basis of accounting unless otherwise stated.

2) Fixed Assets :

i) Fixed Assets are stated at cost less depreciation, Cost includes purchase price, freight and installation expenses.

3) Depreciation :

i) Depreciation on fixed assets have been provided on Straight Line Method, as per clarification and at the rates prescribed in Schedule XIV of the Companies Act, 1956 on pro-rata basis.

ii) Depreciation on additions/deductions during the period has been provided on pro-rata basis with reference to the month of addition/deduction.

4. Sales :

The Company has exemption from sales tax & as such the sales are inclusive only of packing & forwarding charges.

5) Gratuity Liability :

The Company has not made any provision for gratuity liability which shall be accounted on cash basis as certified by the management.

6) Inventories :

a) Stock of Raw materials is valued at cost. b) Stock of finished goods is valued at cost of production. c) Work in progress is valued at estimated direct cost.

7) Interest on NSC :

Interest on National saving Certificates will be accounted for on maturity.

8) Preliminary and Issue Expenses :

Preliminary and Issue Expenses will be written off/amortised over a period of ten years on pro-rata basis.

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Jun 30, 1997

1. Accounting Convention :-

The Financial statements have been prepared in accordance with applicable accounting standards and the relevant present requirement of the Companies Act, 1956, and are based on historical cost, going concern and accrual basis of accounting unless otherwise stated.

2. Fixed Assets

i. Fixed Assets are stated at Cost less depreciation. Cost includes purchase price, freight and installation expenses.

3. Depreciation :-

i. Depreciation on fixed assets have been provided on Straight Line Method, as per clarification and at the rates prescribed in Schedule XIV of the Companies Act, 1956 on prorata basis.

ii. Depreciation on additions/deductions during the period has been provided on prorata basis with reference to the month of addition/deduction.

4. Sales :-

The Company has exemption from sales tax & as such the sales are inclusive only of packing & forwarding charges.

5. Gratuity Liability

The Company has not made any provision for gratuity liability which shall be accounted on cash basis as certified by the management.

6. Inventories

a. Stock of Raw materials is valued at cost.

b. Stock of finished goods is valued at cost of production.

c. Work in progress is valued at estimated direct cost.

7. Interest on NSC :-

Interest on National Saving Certificates will be accounted for on maturity.

8. Preliminary and Issue Expenses :-

Preliminary and Issue Expenses will be written off/amortised over a period of ten years on pro-rata basis.

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Jun 30, 1996

1) Accounting Convention :-

The Financial statements have been prepared in accordance with applicable accounting standards and the relevant present requirement of the Companies Act, 1956, and are based on historical cost, going concern and accrual basis of accounting unless otherwise stated.

2) Fixed Assets :-

i) Fixed Assets are stated at Cost less depreciation. Cost includes purchase price, freight and installation expenses.

3) Depreciation :-

i) Depreciation on fixed assets have been provided on Straight Line Method, as per clarification and at the rates prescribed in Schedule XIV of the Companies Act, 1956 on prorata basis.

ii) Depreciation on additions/deductions during the period has been provided on prorata basis with reference to the month of Addition/deduction.

4) Sales :-

The Company has exemption from sales tax & as such the sales are inclusive only of packing & forwarding charges.

5) Gratuity Liability :-

The Company has not made any provision for gratuity liability which shall be accounted on cash basis as certified by the management.

6) Inventories :-

a) Stock of Raw materials is valued at cost.

b) Stock of finished goods is valued at cost of production.

c) Work in progress is valued at estimated direct cost.

7) Interest on NSC :-

Interest on National Saving Certificates will be accounted for on maturity.

8) Preliminary and Issue Expenses :-

Preliminary and Issue Expenses will be written off/amortised over a period of ten years on pro-rata basis.

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Jun 30, 1995

Accounting Convention :-

The financial statements have been prepared in accordance with applicable accounting standards and the relevant present requirement of the Companies Act, 1956, and are based on historical cost, going concern and accrual basis of accounting unless otherwise stated.

2) Fixed Assets :-

i) Fixed Assets are stated at Cost less depreciation. Cost includes purchase price, freight and installation expenses.

3) Depreciation : -

i) Depreciation on fixed assets have been provided on Straight Line Method, as per clarification and at the rates prescribed in Schedule XIV of the Companies Act, 1956 on prorata basis.

ii) Depreciation on additions/deductions during the period has been provided on prorata basis with reference to the month of addition/deduction.

4) Sales :-

Sales are inclusive of Sales Tax and Packing & forwarding charges.

5) Gratuity Liability

The Company has not made any provision for gratuity liability which shall be accounted on cash basis as certified by the management.

6) Inventories : -

a) Stock of Raw materials is valued at cost.

b) Stock of finished goods is valued at cost of production c) Work in progress is valued at estimated direct cost.

7) Expenditure during construction period :-

Expenditure incurred on project during implementation is apitalised and apportioned to various assets on commissioning of the project.

8) Interest on NSC :-

Interest on National Saving Certificates will be accounted for on maturity.

9) Preliminary and Issue Expenses:

Preliminary and Issue Expenses will be written off/amortised over a period of ten years on pro-rata basis.

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Mar 31, 1994

Information Not Available