Accounting Policies of Thacker & Company Ltd. Company

Mar 31, 2025

Note 2: Summary of significant accounting policies:

a. Basis of preparation

The standalone financial statements of the Company have been prepared in accordance with Ind AS
notified under the Companies (Indian Accounting Standards) Rules, 2015.

The company received order approving cancellation of certificate of registration to carry on the business of
NBFC, from RBI, on November 30,2018. The Ministry of Corporate Affairs (MCA) had issued a notification
dated 16th February 2015, announcing the Companies (Indian Accounting Standards) Rules, 2015 for
adoption and applicability of Indian Accounting Standards (Ind AS). Also as per guidelines given by Ind AS
Technical Facilitation Group (ITFG) Ind AS will be applicable from when company does not have NBFC
Status. Thus being a listed entity, the company adopted Ind AS from 01/12/18. The transition date for Ind
AS implementation is 01/04/2017.

The financial statements have been prepared on the historical cost basis except for a leasehold premises
and certain financial instruments that are measured at fair values at the end of each reporting period, as
explained in the accounting policies below.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. The fair value measurement is based on
the presumption that the transaction to sell the asset or transfer the liability takes place either, in the
principal market for the asset or liability, or in the absence of a principal market, in the most advantageous
market for the asset or liability. The principal or the most advantageous market must be accessible by the
Company. The fair value of an asset or a liability is measured using assumptions that market participants
would use when pricing the asset or liability, assuming that market participants act in their economic best
interest. The Company uses valuation techniques that are appropriate in the circumstances and for which
sufficient data are available to measure fair value, maximising the use of relevant observable inputs and
minimising the use of unobservable inputs.

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

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

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

Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value

measurement is unobservable.

b. Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on currenbnon-current
classification. An asset is current when it is:

1. Expected to be realised or intended to be sold or consumed in the normal operating cycle;

2. Heldprimarilyforthepurposeoftrading;

3. Expected to be realised within the operating cycle or twelve months after the reporting period; or

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

All other assets are classified as non-current.

A liability is current when:

1. It is expected to be settled in the normal operating cycle;

2. Itis held primarily for the purpose of trading;

3. It is due to be settled within the operating cycle or twelve months after the reporting period; or

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

The Company classifies all other liabilities as non-current.

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

c. Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company
and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is
measured at the fair value of the consideration received or receivable, taking into account contractually
defined terms of payment and excluding taxes or duties collected on behalf of the government.

The specific recognition criteria described below must also be met before revenue is recognised.

Revenue from Rental Income

Rental income is considered in books as and when due and the bills are raised.

Interest income

Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective
interest rate applicable. Interest income is included in other income in the statement of profit and loss.

Dividends

Income from dividend on investments is accrued in the year in which it is declared, whereby the Company''s
right to receive is established.

d. Trade Receivables

The Company classifies the right to consideration in exchange for deliverables as either a receivable or as
unbilled revenue. A receivable is a right to consideration that is unconditional upon passage of time.

e. Property, plant and equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated
impairment losses, if any. Such cost includes the cost of replacing part of the property, plant and equipment
and borrowing costs for long-term construction projects if the recognition criteria are met. When significant
parts of the property, plant and equipment are required to be replaced at intervals, the Company depreciates
them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost
is recognised in the carrying amount of the plant and equipment as a replacement if the recognition criteria
are satisfied. All other repair and maintenance costs are recognised in statement of profit or loss as incurred.
No decommissioning liabilities are expected to be incurred on the assets of plant and equipment.

The leasehold premises, comprising of one building having Written Down Value (WDV) Rs. 145,596/- as per
IND AS as at 31st Mar, 2025 is leased to the company under Finance Lease up to the year 2066. The
premises is partly being used by the company for its own business and partly leased out. Since the company
is using the premises for the purpose of its business, also being the registered office of the company, the
property is classified under Property, Plant and Equipment.

Depreciation is calculated on a WDV basis over the estimated useful lives of the assets.
The Company, based on technical assessment made by technical expert and management estimate,
depreciates all the assets over estimated useful life which is also the useful life prescribed in Schedule II to
the Companies Act, 2013. The management believes that these estimated useful lives are realistic and
reflect fair approximation of the period over which the assets are likely to be used.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed
at each financial year end and adjusted prospectively, if appropriate.

f. Inventory

Inventories are valued at cost or net realisable value whichever is lower

g. Borrowing Costs

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 capitalised as part
of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing
costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds.

h. Leases

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 from consideration. To assess whether a contact conveys the right to control the use of an
identified assets, the Company assesses whether:

(i) The contact 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 assets.

Company as a lessee

As a lessee, the Company recognizes a right-of-use-assets and a lease liability at the lease
commencement date. The right-of-use-assets is initially measured at cost, which comprises the initial
amount of the lease liability adjusted for any lease payments made at or before the commencement date,
plus and initial direct costs incurred and a estimate of costs to dismantle and remove the underlying asset or
to restore the underlying asset or the site on which it is located, less and lease incentives received. The right-
of-use-assets is subsequently depreciated using the straight line method from the commencement date to
the earlier of the end of the useful life of the right-of-use-assets or the end of the lease term. The estimated
useful lives of right-of-use-assets are determined on the same basis as those of property and equipment. In
addition, the right-of-use-asset is periodically reduced by impairment losses, if any, and adjusted for certain
remeasurement of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the
commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily
determined, the Company’s incremental borrowing rate. Generally, the Company uses its incremental
borrowing rate as the discount rate.

Lease payment included in the measurement of the lease liability comprise the fixed payment, including in¬
substance fixed payment. Lease liability is measured at amortised cost using the effective interest method.

The Company has used number of practical expedients when applying Ind AS 116:- short -term leases,
leases of low value assets and single discount rate.

The Company has elected not to recognize right-of-use-assets and lease liability for short term leases that
have a lease term of 12 months or less and leases of low-value assets. The Company recognizes the lease
payment associated with these leases as an expense on a straight line basis over the lease term.

As a Lessor

Leases for which the Company is a lessor classified as finance or operating lease.

Lease Income from operating leases where the Company is a lessor is recognized in income on a straight¬
line basis over the lease term unless the receipt are structured to increase in line with expected general
inflation to compensate for the expected inflationary cost increases. The respective leased assets are
included in the balance sheet based on their nature.

i Taxes

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss of the year and
any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rate
enacted or substantially enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of temporary differences between the tax bases of assets and
liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax assets are recognised for deductible temporary differences, the carry forward of unused tax
credits and any unused tax losses to the extent that it is probable that taxable profit will be available against
which those can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date
and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all
or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each

reporting date and are recognised to the extent that it has become probable that future taxable profits will
allow the deferred tax asset to be recovered.

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

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

Current and deferred tax are recognized in profit or loss, except when they relate to items that are
recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax
are also recognized in other comprehensive income or directly in equity respectively

j. Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks, cash in hand and deposits with an
original maturity of 12 months or less, which are subject to an insignificant risk of changes in value.

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Mar 31, 2024

Note 2: Summary of significant accounting policies:

a. Basis of preparation

The standalone financial statements of the Company have been prepared in accordance with Ind AS notified underthe Companies (Indian Accounting Standards) Rules, 2015.

The company received order approving cancellation of certificate of registration to carry on the business of NBFC, from RBI, on November 30, 2018.The Ministry of Corporate Affairs (MCA) had issued a notification dated 16^th February 2015, announcing the Companies (Indian Accounting Standards) Rules, 2015 for adoption and applicability of Indian Accounting Standards (Ind AS). Also as per guidelines given by Ind AS Technical Facilitation Group (ITFG) Ind AS will be applicable from when company does not have NBFC Status. Thus being a listed entity, the company adopted Ind AS from 01/12/18. The transition date for Ind AS implementation is 01/04/2017.

The financial statements have been prepared on the historical cost basis except for a leasehold premises and certain financial instruments that are measured at fair values at the end of each reporting period, as explained in the accounting policies below.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either, in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or a liability is measured using assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

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

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

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

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

b. Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on current/non-current classification. An asset is current when it is:

1. Expected to be realised or intended to be sold or consumed in the normal operating cycle;

2. Held primarily for the purpose of trading;

3. Expected to be realised within the operating cycle ortwelve months after the reporting period; or

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

All other assets are classified as non-current.

A liability is current when:

1. It is expected to be settled in the normal operating cycle;

2. It is held primarily for the purpose of trading;

3. It is due to be settled within the operating cycle or twelve months after the reporting period; or

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

The Company classifies all other liabilities as non-current.

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

c. Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.

The specific recognition criteria described below must also be met before revenue is recognised.

Revenue from Rental Income

Rental income is considered in books as and when due and the bills are raised.

Interest income

Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable. Interest income is included in other income in the statement of profit and loss.

Dividends

Income from dividend on investments is accrued in the year in which it is declared, whereby the Company''s right to receive is established.

d. Trade Receivables

The Company classifies the right to consideration in exchange for deliverables as either a receivable or as unbilled revenue. A receivable is a right to consideration that is unconditional upon passage of time.

e. Property, plant and equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the property, plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts of the property, plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in statement of profit or loss as incurred. No decommissioning liabilities are expected to be incurred on the assets of plant and equipment.

The leasehold premises, comprising of one building having Written Down Value (WDV) Rs. 158,054/- as per IND AS as at 31st Mar, 2024 is leased to the company under Finance Lease up to the year 2066. The premises is partly being used by the company for its own business and partly leased out. Since the company is using the premises for the purpose of its business, also being the registered office of the company, the property is classified under Property, Plant and Equipment.

Depreciation is calculated on a WDV basis over the estimated useful lives of the assets.

The Company, based on technical assessment made by technical expert and management estimate, depreciates all the assets over estimated useful life which is also the useful life prescribed in Schedule II to the Companies Act, 2013. The management believes that these estimated useful lives are realistic and reflect fair approximation of the period over which the assets are likely to be used.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

f. Inventory

Inventories are valued at cost or net realisable value whichever is lower

g. Borrowing Costs

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 capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds.

h. Leases

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 from consideration. To assess whether a contact conveys the right to control the use of an identified assets, the Company assesses whether: (i) the contact 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 assets.

Company as a lessee

As a lessee, the Company recognizes a right-of-use-assets and a lease liability at the lease commencement date. The right-of-use-assets is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus and initial direct costs incurred and a estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset orthe site on which it is located, less and lease incentives received.The right-of-use-assets is subsequently depreciated using the straight line method from the commencement date to the earlier of the end of the useful life of the right-of-use-assets or the end of the lease term. The estimated useful lives of right-of-use-assets are determined on the same basis as those of property and equipment. In addition, the right-of-use-asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurement of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate.

Lease payment included in the measurement of the lease liability comprise the fixed payment, including insubstance fixed payment. Lease liability is measured at amortised cost using the effective interest method.

The Company has used number of practical expedients when applying Ind AS 116:- short -term leases, leases of lowvalue assets and single discount rate.

The Company has elected not to recognize right-of-use-assets and lease liability for short term leases that have a lease term of 12 months or less and leases of low-value assets. The Company recognizes the lease payment associated with these leases as an expense on a straight line basis overthe lease term.

Asa Lessor

Leases for which the Company is a lessor classified as finance or operating lease.

Lease Income from operating leases where the Company is a lessor is recognized in income on a straightline basis over the lease term unless the receipt are structured to increase in line with expected general inflation to compensate for the expected inflationary cost increases. The respective leased assets are included in the balance sheet based on their nature.

I Taxes

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss of the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rate enacted or substantially enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax assets are recognised for deductible temporary differences, the carry forward of unused tax credits and any unused tax losses to the extent that it is probable that taxable profit will be available against which those can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date

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

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

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

Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in othercomprehensive income ordirectly in equity respectively

j. Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks, cash in hand and deposits with an original maturity of 12 months or less, which are subject to an insignificant risk of changes in value.

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Mar 31, 2017

Note 23: SIGNIFICANT ACCOUNTING POLICIES:

A) Basis of preparation of financial statements:

The financial statements have been prepared in accordance with the Generally Accepted Accounting Principles (IGAAP) under the historical cost convention as a going concern and on accrual basis and in accordance with the provisions of the Companies Act, 2013 and the Accounting Standards specified under section 133 of the Companies Act. 2013 ("the Act") read with Rule 7 of the Companies.

All assets and liabilities have been classified as current and non-current as per the Company''s normal Operating cycle and other criteria set out in the Schedule III of the Companies Act, 2013. Based on the nature of services and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as twelve months for the purpose of current/non-current classification of assets and liabilities.

(B) Use of estimates:

The preparation of financial statements requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including contingent liabilities) as on the date of financial statements and the reported income and expenses during the reporting period Management believes that the estimates used in the preparation of the financial statements are prudent and reasonable. Actual results could differ from these estimates. Any revision to accounting estimates is recognized prospectively in current and future periods.

(C) Revenue recognition:

Revenue is recognized as earned and accrued when it is reasonably certain that its ultimate collection will be made and the revenue is measureable.

Sales are exclusive of VAT and recognized when goods are supplied in accordance with the terms of sales.

Revenue from export sales is recognized only when the bill of lading is received by the company. Purchase are recognized as per terms of purchase with buyer and exclusive of VAT.

Income from Rent is recognized as per terms or the agreement on accrual basis.

Interest Income is accounted on accrual basis by applying the interest rate on loan transactions. Dividend income is accounted on receipt basis.

(D) Fixed Assets:

a. Tangible Assets:

i) Tangible assets are staled at cost of acquisition (including incidental expenses), less accumulated depreciation.

ii) Assets held for sale or disposals are stated at the lower of their net book value and net realizable value.

b. Depreciation Tangible Assets:

Depreciation on tangible assets is charged on Written down Value (WDV) in accordance with the useful lives specified in Schedule II to the Companies Act. 2013 on a pro-rata basis except for following assets in respect of which useful life is taken as estimated by the management based on the actual usage pattern of the assets. -

0 Assets costing less than Rs.5, 000/- are fully depreciated in the period of purchase. n) Residual value of the assets is considered as 5%, reflecting the estimate of realizable values at the end of the useful life of an asset.

c. Intangible Assets:

Intangible assets are stalled at cost less accumulated amortization and impairment loss, if any.

(E) Inventories:

i. Inventories are valued on FIFO al cost or market value, whichever is less.

ii. Materials lying at Port and with third party are recognized upon receipt of commercial invoice from the supplier.

(F) Investments

I. Investments are classified into current and Non - current investments. Non Current Investments are stated at cost. Provision for diminution in the value of noncurrent investments is made only if, such a decline in the opinion of the management is other than temporary.

ii. Investments include shares and securities purchased with the intention of holding them as investments as per board resolutions.

(G) Segment Reporting:

The accounting policies adopted for Segment reporting are on line with the accounting policy of the Company. Revenue and Expenditure have been identified to Segments on the basis of their relationship to operating activities of the segment. Revenue and Expenditure which relate to the enterprises as a whole and are not allocable to segments on a reasonable basis have been included under "Un-allocated Expenses"

Employee Benefits:

Provision for leave encashment to employees is made on payment basis.

(H) Foreign currency Transactions:

Foreign currency transactions entered during the year are recorded at the prevailing exchange rate on the date of transaction. Gain / Loss arising on all transactions settled during the year are recognized in profit and loss account. Unsettled foreign currency transactions at the yearend are translated at year - end rates.

(I) Provisions and Contingent Liabilities:

The company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

(J) Taxation:

, Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961 and considering assessment orders and decisions of appellate authorities in Company''s case

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Mar 31, 2015

A) Basis of preparation of financial statements:

a) The accompanying financial statements have been prepared in accordance with the historical cost convention.

b) The company generally follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

c) The company has prepared these financial statements as per the format prescribed by Schedule 111 to the Companies Act, 2013issuedby Ministry of Corporate Affairs. Previous periods figures have been recast/regrouped to confirm to the classification required by the Schedule III.

B) Fixed Assets:

Tangible Assets. Fixed Assets are carried at cost of acquisition less depreciation.

C) Depreciation:

Depreciation on Fixed Assets has been provided under Written Down Value method, in accordance with the provision of Schedule II to the Companies Act, 2013.

D) Inventories:

a) Inventories are valued on FIFO at cost or market value, whichever is less.

b), Materials lying at Port and with third party are recognized upon receipt of commercial invoice from the supplier.

E) Investments:

a) Investments are classified into current and non-current investments. Noncurrent Investments are stated at cost. Provision for diminution in the value of non-current investments is made only if, such a decline in the opinion of the management is other than temporary.

b) Investments include shares and securities purchased with the intention of holding them as investments as per Board resolutions.

F) Sales:

Sales are exclusive of Vat and recognized when goods are supplied in accordance with the terms of sale. Revenue from export Sales is recognized only when the Bills of Lading is received by the company.

G) Purchase:

Purchases are recognized as per terms of purchase with buyer and exclusive of VAT.

H) Rent:

Income from rent is accounted as per the terms of agreements on accrual basis.

I) Interest and Dividend:

Interest income is accounted on accrual basis. Dividend income is accounted on receipt basis.

J) Employees Benefits:

Company's contributions to Provident Fund Pension Scheme for the year are charged to Profit & Loss account. Provision for Leave encashment to employees is made on payment basis.

K) Taxation:

a) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961 and considering assessment orders and decisions of appellate authorities in Company's case.

b): Deferred tax for timing differences between tax profits and book profits is accounted by using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date. Deferred tax assets in respect of unabsorbed Losses are recognized to the extent there is reasonable certainty that these assets can be realized in future.

L) Segment Reporting:

The accounting policies adopted for Segment reporting are on line with the accounting policy of the Company. Revenue and Expenditure have been identified to Segments on the basis of their relationship to operating activities of the segment. Revenue and Expenditure which relate to ; the enterprises as a wholeand are not allocable to segments on a reasonable basis have been included under "Un-allocated Expenses"

M) Foreign currency Transactions:

Foreign currency transactions entered during the year are recorded at the prevailing exchange rate on the date of transaction. Gain / Loss arising on all transactions settled during the year are recognized in profit and loss account. Unsettled foreign currency transactions at the year end are translated at year - end rates.

N) Provisions and Contingent Liabilities:

The company recognizes a provision when there is a present obligation as a result of a past event that probably. Requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. Disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

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Mar 31, 2014

A) Basis of preparation of financial statements:

a) The accompanying financial statements have been prepared in accordance with the historical cost convention.

b) The company generally follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis

c) The company has prepared these financial statements as per the format prescribed by Revised Schedule VI to the Companies Act, 1956 issued by Ministry of Corporate Affairs. Previous periods figures have been recast /regrouped to confirm to the classification required by the Revised Schedule VI.

B) Fixed Assets:

Tangible Assets : Fixed Assets are carried at cost of acquisition less depreciation.

C) Depreciation:

Depreciation on Fixed Assets has been provided on Written down Value method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation in respect of assets acquired during the year has been provided on pro-rata basis.

D) Inventories:

a) Inventories are valued on FIFO at cost or market value, whichever is less.

b) Materials lying at Port and with third party are recognized upon receipt of commercial invoice from the supplier.

E) Investments:

a) Investments are classified into current and non current investments. Non current Investments are stated at cost. Provision for diminution in the value of non current investments is made only if, such a decline in the opinion of the management is other than temporary.

b) Investments include shares and securities purchased with the intention of holding them as investments as per Board resolutions.

F) Sales:

Sales are exclusive of Vat and recognized when goods are supplied in accordance with the terms of sale. Revenue from export Sales is recognized only when the Bills of Lading is received by the company.

G) Purchase:

Purchases are recognized as per terms of purchase with buyer and exclusive of VAT.

H) Rent:

Income from rent is accounted as per the terms of agreements on accrual basis.

I) Interest and Dividend:

Interest income is accounted on accrual basis. Dividend income is accounted on receipt basis.

J) Employees Benefits:

Company''s contributions to Provident Fund Pension Scheme for the year are charged to Statement of Profit & Loss. Provision for Leave encashment to employees is made on payment basis.

K) Taxation:

a) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961 and considering assessment orders and decisions of appellate authorities in Company''s case.

b) Deferred tax for timing differences between tax profits and book profits is accounted by using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date. Deferred tax assets in respect of unabsorbed Losses are recognized to the extent there is reasonable certainty that these assets can be realized in future.

L) Segment Reporting:

The accounting policies adopted for Segment reporting are on line with the accounting policy of the Company. Revenue and Expenditure have been identified to Segments on the basis of their relationship to operating activities of the segment. Revenue and Expenditure which relate to the enterprises as a whole and are not allocable to segments on a reasonable basis have been included under "Un-allocated Expenses"

M) Foreign currency Transactions:

Foreign currency transactions entered during the year are recorded at the prevailing exchange rate on the date of transaction. Gain / Loss arising on all transactions settled during the year are recognized in Statement of Profit & Loss. Unsettled foreign currency transactions at the year end are translated at year - end rates.

N) Provisions and Contingent Liabilities:

The company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

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Mar 31, 2013

A) Basis of preparation of financial statements:

a) The accompanying financial statements have been prepared in accordance with the historical cost convention.

b) The company generally follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis

c) The company has prepared these financial statements as per the format prescribed by Revised Schedule VI to the Companies Act, 1956 issued by Ministry of Corporate Affairs. Previous periods figures have been recast/regrouped to confirm to the classification required by the Revised Schedule VI.

B) Fixed Assets:

Tangible Assets : Fixed Assets are carried at cost of acquisition less depreciation.

C) Depreciation:

Depreciation on Fixed Assets has been provided on Written Down Value method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation in respect of assets acquired during the year has been provided on pro-rata basis.

D) Inventories:

a) Inventories are valued on FIFO at cost or market value whichever is less.

b) Materials lying at Port and with third party are recognized upon receipt of commercial invoice from the supplier.

E) Investments:

a) Investments are classified into current and non current investments. Non current Investments are stated at cost. Provision for diminution in the value of non current investments is made only if, such a decline in the opinion of the management is other than temporary.

b) Investments include shares and securities purchased with the intention of holding them as investments as per Board resolutions.

F) Sales:

Sales are exclusive of Vat and recognized when goods are supplied in accordance with the terms of sale. Revenue from export Sales is recognized only when the Bills of Lading is received by the company.

G) Purchase:

Purchases are recognized as per terms of purchase with buyer and exclusive of VAT.

H) Rent:

Income from rent is accounted as per the terms of agreements on accrual basis.

I) Interest and Dividend:

Interest income is accounted on accrual basis. Dividend income is accounted on receipt basis.

J) Employees Benefits:

Company''s contributions to Provident Fund Pension Scheme for the year are charged to Profit & Loss account. Provision for Leave encashment to employees is made on payment basis.

K) Taxation:

a) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961 and considering assessment orders and decisions of appellate authorities in Company''s case.

b) Deferred tax for timing differences between tax profits and book profits is accounted by using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date. Deferred tax assets in respect of unabsorbed Losses are recognized to the extent there is reasonable certainty that these assets can be realized in future.

L) Segment Reporting:

The accounting policies adopted for Segment reporting are on line with the accounting policy of the Company. Revenue and Expenditure have been identified to Segments on the basis of their relationship to operating activities of the segment. Revenue and Expenditure which relate to the enterprises as a whole and are not allocable to segments on a reasonable basis have been included under "Un-allocated Expenses”

M) Foreign currency Transactions:

Foreign currency transactions entered during the year are recorded at the prevailing exchange rate on the date of transaction. Gain / Loss arising on all transactions settled during the year are recognized in profit and loss account. Unsettled foreign currency transactions at the year end are translated at year – end rates.

N) Provisions and Contingent Liabilities:

The company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

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Mar 31, 2012

1.1) Basis of preparation of financial statements:

a) The accompanying financial statements have been prepared in accordance with the historical cost convention.

b) The company generally follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis

c) The company has prepared these financial statements as per the format prescribed by Revised Schedule VI to the Companies Act, 1956 issued by Ministry of Corporate Affairs. Previous periods figures have been recast/regrouped to confirm to the classification required by the Revised Schedule VI.

1.2) Fixed Assets:

Tangible Assets : Fixed Assets are carried at cost of acquisition less depreciation.

1.3) Depreciation:

- Depreciation on Fixed Assets has been provided on Written Down Value method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation in respect of assets acquired during the year has been provided on pro-rata basis.

1.4) inventories:

a) Inventories are valued on FIFO at cost or market value whichever is less.

b) Materials lying at Port and with third party are recognized upon receipt of commercial invoice from the supplier.

1.5) Investments:

a) Investments are classified into current and non current investments. Non current Investments are stated at cost. Provision for diminution in the value of non current investments is made only if, such a decline in the opinion of the management is other than temporary.

b) Investments include shares and securities purchased with the intention of holding them as investments as per Board resolutions.

1.6) Sales:

Sales are exclusive of Vat and recognized when goods are supplied in accordance with the terms of sale. Revenue from export Sales is recognized only when the Bills of Lading is received by the company.

1.7) Purchase:

Purchases are recognized as per terms of purchase with buyer and exclusive of VAT.

1.8) Rent:

Income from rent is accounted as per the terms of agreements on accrual basis.

1.9) Interest and Dividend:

Interest income is accounted on accrual basis. Dividend income is accounted on receipt basis.

1.10) Employees Benefits:

Company's contributions to Provident Fund Pension Scheme for the year are charged to Profit & Loss account. Provision for Leave encashment to employees is made on payment basis.

1.11) Taxation:

a) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961 and considering assessment orders and decisions of appellate authorities in Company's case.

b) Deferred tax for timing differences between tax profits and book profits is accounted by using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date.

- Deferred tax assets in respect of unabsorbed Losses are recognized to the extent there is reasonable certainty that these assets can be realized in future.

1.12) Segment Reporting:

The accounting policies adopted for Segment reporting are on line with the accounting policy of the Company. Revenue and Expenditure have been identified to Segments on the basis of their relationship to operating activities of the segment. Revenue and Expenditure which relate to the enterprises as a whole and are not allocable to segments on a reasonable basis have been included under "Un-allocated Expenses"

1.13) Foreign currency Transactions:

Foreign currency transactions entered during the year are recorded at the prevailing exchange rate on the date of transaction. Gain / Loss arising on all transactions settled during the year are recognized in profit and loss account. Unsettled foreign currency transactions at the year end are translated at year - end rates.

1.14) Provisions and Contingent Liabilities:

The company recognizes a provision when there is a present obligation as a result of a past event- that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

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Mar 31, 2011

1) Accounting Convention:

a) The accompanying financial statements have been prepared in accordance with the historical cost convention.

b) The company generally follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis

2) Fixed Assets:

Fixed Assets are carried at cost of acquisition less depreciation.

3) Depreciation:

Depreciation on Fixed Assets has been provided on written Down Value method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation in respect of assets acquired during the year has been provided on pro-rata basis.

4) Inventories:

a) Inventories are valued on FIFO at cost or market value whichever is less.

b) Materials lying at Port and with third party are recognized upon receipt of commercial invoice from the supplier.

5) Investments:

a) Long Term Investments are stated at cost. Provision for diminution in the value of long term investments is made only if, such a decline in the opinion of the management is other than temporary.

b) Investments include shares and securities purchased with the intention of holding them as investments as per Board resolutions.

6) Sales:

Sales are exclusive of Vat and recognized when goods are supplied in accordance with the terms of sale. Export Sales is recognized only when the Bills of Lading is received by the company.

7) Purchase:

Purchases are recognized as per terms of purchase with buyer and exclusive of VAT.

8) Rent:

Income from rent is accounted as per the terms of agreements on accrual basis.

9) Interest and Dividend:

Interest income is accounted on accrual basis. Dividend is accounted on receipt basis

10) Employees Benefits:

Company's contributions to Provident Fund Pension Scheme for the year are charged to Profit & Loss account. Provision for Leave encashment to employees is made on payment basis.

11) Taxation:

a) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961 and considering assessment orders and decisions of appellate authorities in Company's case.

b) Deferred tax for timing differences between tax profits and book profits is accounted by using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date. Deferred tax assets in respect of unabsorbed Losses are recognized to the extent there is reasonable certainty that these assets can be realized in future.

12) Accounting policies not specifically referred to above are consistent with earlier years and in consonance with generally accepted accounting principles.

13) Segment Reporting:

The accounting policies adopted for Segment reporting are on line with the accounting policy of the Company. Revenue and Expenditure have been identified to Segments on the basis of their relationship to operating activities of the segment. Revenue and Expenditure which relate to the enterprises as a whole and are not allocable to segments on a reasonable basis have been included under “Un-allocated Expenses”

14) Foreign currency Transactions:

Foreign currency transactions entered during the year are recorded at the prevailing exchange rate on the date of transaction. Gain / Loss arising on all transactions settled during the year are recognized in profit and loss account. Unsettled foreign currency transactions at the year end are translated at year – end rates.

15) Provisions and Contingent Liabilities:

The company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

---

Mar 31, 2010

1) Accounting Convention:

a) The accompanying financial statements have been prepared in accordance with the historical cost convention.

b) The company generally follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis

2) Fixed Assets:

Fixed Assets are carried at cost of acquisition less depreciation.

3) Depreciation:

Depreciation on Fixed Assets has been provided on written Down Value method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation in respect of assets acquired during the year has been provided on pro-rata basis.

4) Inventories:

a) Inventories are valued on FIFO at cost or market value whichever is less.

b) Materials lying at Port and with third party are recognized upon receipt of commercial invoice from the supplier.

5) Investments:

a) Long Term Investments are stated at cost. Provision for diminution in the value of long term investments is made only if, such a decline in the opinion of the management is other than temporary.

b) Investments include shares and securities purchased with the intention of holding them as investments as per Board resolutions.

6) Sales:

Sales are exclusive of Vat and recognized when goods are supplied in accordance with the terms of sale. Export Sales is recognized only when the Bills of Lading is received by the company.

7) Purchase:

Purchases are recognized as per terms of purchase with buyer and exclusive of VAT.

8) Rent:

Income from rent is accounted as per the terms of agreements on accrual basis.

9) Interest and Dividend:

Interest income is accounted on accrual basis. Dividend is accounted on receipt basis

10) Employees Benefits:

Companys contributions to Provident Fund Pension Scheme for the year are charged to Profit & Loss account. Provision for Leave encashment to employees is made on payment basis.

11) Taxation:

a) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961 and considering assessment orders and decisions of appellate authorities in Companys case.

b) Deferred tax for timing differences between tax profits and book profits is accounted by using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date. Deferred tax assets in respect of unabsorbed Losses are recognized to the extent there is reasonable certainty that these assets can be realized in future.

12) Accounting policies not specifically referred to above are consistent with earlier years and in consonance with generally accepted accounting principles.

13) Segment Reporting:

The accounting policies adopted for Segment reporting are on line with the accounting policy of the Company. Revenue and Expenditure have been identified to Segments on the basis of their relationship to operating activities of the segment. Revenue and Expenditure which relate to the enterprises as a whole and are not allocable to segments on a reasonable basis have been included under "Un-allocated Expenses"

14) Foreign currency Transactions:

Foreign currency transactions entered during the year are recorded at the prevailing exchange rate on the date of transaction. Gain / Loss arising on all transactions settled during the year are recognized in profit and less account. Unsettled foreign currency transactions at the year end are translated at year - end rates.

15) Provisions and Contingent Liabilities:

The company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.