Accounting Policies of Vaishno Cement Company Ltd. Company

Mar 31, 2024

1. Statement of Significant accounting policies
General Information

Vaishno Cement Company Limited (“the company”) is an entity incorporated in India under the
provisions of Companies Act, 1956. The registered office of the Company is located at 14B, Ram
Chandra Moitra Lane, Kolkata- 700005.

1. Significant Accounting Policies

This note provides a list of the significant accounting policies adopted in the preparation of these
separate financial statements of the Company. These policies have been consistently applied to all
the periods presented, unless otherwise stated.

(a) BASIS OF PREPARATION AND PRESENTATION
i) Compliance with Ind AS

The separate financial statements have been prepared in accordance with the Companies
(Indian Accounting Standard) Rules, 2015 under the historical cost convention as a going
concern on an accrual basis expect for certain financial instruments which are measured at
fair value. The financial statements up to year ended 31 March 2017 were prepared earlier in
accordance with the accounting standards notified under the Companies (Accounting
Standard) Rules, 2006 (as amended) and other relevant provisions of the Act.

(ii) Historical cost convention

The financial statements have been prepared on a historical cost basis, except for the
following: - equity investments in entities other than subsidiary, joint ventures and associate
which are measured at fair value; - Certain financial assets and liabilities that are measured
at fair value; - defined benefit plans - plan assets measured at fair value.

(iii) Use of estimates

In preparing the financial statements in conformity with generally accepted accounting
principles, management is required to make judgements, estimates and assumptions that
may affect the reported amounts of assets and liabilities and the disclosure of contingent
liabilities as at the date of financial statements and the amounts of revenue and expenses
during the reported period. The estimates and assumptions used in the accompanying
financial statements are based upon management''s evaluation of facts and circumstances as
at the date of the financial statement. Actual results could differ from those estimates.
Estimates and underlying assumption are reviewed on an ongoing basis. Any revision to
such estimates is recognized in the period the same is determined.

(b) PROPERTY, PLANT AND EQUIPMENT

During the year under review the Company has no fixed assets.

(c) INTANGIBLE ASSETS

During the year under review the Company has no Intangible Assets.

(d) FINANCIAL INSTRUMENTS

i) Financial Assets

The Company derecognises a financial asset when the contractual rights to the cash flows
from the financial asset expire, or it transfers the right to receive the contractual cash flows in
a transaction in which substantially all of the risks and rewards of ownership of the financial
assets are transferred or in which the Company neither transfers nor retains substantially all
of the risks and rewards of ownership and does not retain control of the financial asset. If the
Company enters into transactions whereby it transfers assets recognised on its balance sheet,
but retains either all or substantially all of the risks and rewards of the transferred assets, the
transferred assets are not derecognised.

ii) Financial Liabilities

The Company derecognises a financial liability when its contractual obligations are
discharged or cancelled, or expire. The Company also derecognises a financial liability when
its terms are modified and the cash flows under the modified terms are substantially
different.

(e) CASH & CASH EQUIVALENT

Cash and Cash equivalents for the purpose of Cash Flow Statement comprise cash and cheques in
hand, bank balances, demand deposits with banks where the original maturity is three months or
less and other short term highly liquid investments. To be classified as cash and cash equivalents,
the financial asset must be readily convertible into cash; - have an insignificant risk of changes in
value; and - have a maturity period of three months or less at acquisition.

(f) REVENUE RECOGNITION

Revenue is recognized on accrual basis

(g) EMPLOYEE BENEFITS

Liabilities for wages and salaries that are expected to be settled wholly within 12 months after
the end of the period in which the employees render the related service are recognised in respect
of employees’ services up to the end of the reporting period and are measured at the amounts
expected to be paid when the liabilities are settled.

(h) LEASES

During the year under review the Company had not entered into any leasing agreements.

(i) FOREIGN CURRENCY TRANSACTION

During the year under review no foreign currency transactions were entered into by the
Company.

(j) TAXES ON INCOME

The tax expense for the period comprises of current and deferred income tax.
i) Current tax

Current tax assets and liabilities are measured at the amount expected to be
recovered from or paid to the Income Tax authorities, based on tax rates and laws
that are enacted/prevailing at the Balance Sheet date.

ii) Deferred tax

Deferred tax is recognized on temporary differences between the carrying amounts
of assets and liabilities in the financial statements and the corresponding tax bases
used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to
apply in the period in which liability is settled or the asset is realized, based on tax
rates and tax laws that have been enacted and/or substantively enacted at the end of
reporting period. The carrying amount of deferred tax liabilities and assets are
reviewed at the end of each reporting period.

(k) DIVIDENDS

During the year under review the company has not declared any dividend.

(l) EARNINGS PER SHARE

Basic and Diluted Earnings per share is calculated by dividing the net profit attributable to equity
shareholders by weighted average number of equity shares/dilutive potential equity shares
outstanding as at end of the reporting period as the case may be.

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Mar 31, 2023

1. Significant Accounting Policies

This note provides a list of the significant accounting policies adopted in the preparation of these separate financial statements of the Company. These policies have been consistently applied to all the periods presented, unless otherwise s tated.

(a) BASIS OF PREPARATION AND PRESENTATION i) Compliance with Ind AS

The separate financial statements have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 under the historical cost convention as a going concern on an accrual basis expect for certain financial instruments which are measured at fair value. The financial statements up to year ended 31 March 2017 were prepared earlier in accordance with the accounting standards notified under the Companies (Accounting Standard) Rules, 2005 (as amended) and other relevant provisions of the Act.

( i i ) Historical cost convention

T h e financial statements have been prepared on a historical cost basis, except for the following: - equity investments in entities other than subsidiary, joint ventures and associate which are measured at fair value; ertain financial assets and liabilities that are measured at fair valdefined benefit plans- plan assets measured at fair value .

( i i i) Use of estimates

In preparing the financial statements in conformity with generally accepted accounting principles, management is required to make judgements, estimates and assumptions that may affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as at the date of financial statements and the amounts of revenue and expenses during the reported period. The estimates and assumptions used in the accompanying financial statements are based upon management''s evaluation of facts and circumstances as at the date of the financial statement. Actual results could differ from those estimates. Estimates and underlying assumption are reviewed on an ongoing basis. Any revision to such estimates is recognized in the period the same is determined.

(b) PROPERTY, PLANT AND EQUIPMENT

During the year under review the Company has no fixed assets.

(c) INTANGIBLE ASSETS

During the year under review the Company has no Intangible A ssets.

(d) FINANCIAL INSTRUMENTS

i) Financial Assets

The Company derecognisea financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the right to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial assets are transferred or in which the Company neither transfers nor retains substantially all of the risks and rewards of ownership and does not retain control of the financial asset. If the Company enters into transactions whereby it transfers assets recognised on its balance sheet, but retains either all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognised.

ii) Financial Liabilities

The Company derecognisea financial liability when its contractual obligations are discharged or cancelled, or expire. The Company also derecognises a financial liability when its terms are modified and the cash flows under the modified terms are substantially different.

(e) CASH & CASH EQUIVALENT

Cash and Cash equivalents for the purpose of Cash Flow Statement comprise cash and cheques in hand, bank balances, demand deposits with banks where the original maturity is three months or less and other short term highly liquid investments. To be classified as cash and cash equivalents, the financial asset must be readily convertible into- cash; have an insignificant risk of changes in value; anhave a maturity period of three months or less at acquisition.

( f) REVENUE RECOGNITION

Revenue is recognized on accrual basis

(g) EMPLOYEE BENEFITS

Liabilities for wages and salaries that are expected to be settled wholly within 2 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are s ettled.

(h) LEASES

During the year under review theompany had not entered into any leasing agreements

(i) FOREIGN CURRENCY TRANSACTION

During the year under review no foreign currency transactions were entered into by the Company.

(j) TAXES ON INCOME

The tax expense for the period comprises of current and deferred income tax. i) Current tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the Income Tax authorities, based on tax rates and laws that are enacted/prevailing at the Balance Sheet date.

ii) Deferred tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which liability is settled or the asset is realized, based on tax rates and tax laws that have been enacted and/or substantively enacted at the end of reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each reporting period.

(k) DIVIDENDS

During the year under review the company has not declared any di . lend

(l) EARNINGS PER SHARE

Basic and Diluted Earnings per share is calculated by dividing the net profit attributable to equity shareholders by weighted average number of equity shares/dilutive potential equity shares outstanding as at end of the reporting period as the case may be.

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Mar 31, 2015

Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended). The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.

Use of estimates

The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialized.

inventories

Inventories are valued at the lower of cost (on FIFO basis) and the net realizable value after providing for obsolescence and other losses, where considered necessary.

Cash and cash equivalents (for purposes of Cash Flow statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

Cash Flow statements

Cash fows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash fows from operating, investing and financing activities of the Company are segregated based on the available information.

Revenue Recognition

All incomes and expenditure are recognized as per 'Accounting Standard-9' accounted on accrual basis except where stated otherwise. Dividends on investments are accounted for when the right to receive the dividend is established.

Employee Benefits

a. P.F. and E.S.I.C. Scheme is not applicable to the company.

b. Gratuity is accounted as and when it becomes due.

segment Reporting

The Company identifies primary segments based on the dominant source, nature of risks and returns and the internal organization and management structure. The operating segments are the segments for which separate financial information is available and for which operating profit/loss amounts are evaluated regularly by the executive Management in deciding how to allocate resources and in assessing performance.

The accounting policies adopted for segment reporting are in line with the accounting policies of the Company. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment.

Inter-segment revenue is accounted on the basis of transactions which are primarily determined based on market / fair value factors.

Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments on reasonable basis have been included under "unallocated revenue / expenses / assets / liabilities".

investments

Long-term investments are carried individually at cost less provision for diminution, other than temporary, in the value of such investments. Current investments are carried individually, at the lower of cost and fair value. Costs of investments include acquisition charges such as brokerage, fees and duties.

Borrowing Cost

Borrowing costs directly attributable to the acquisition and construction of qualifying foxed assets are capitalized as part of the cost of the assets, up to the date the asset is put to use. Other borrowing costs are charged to the Profit and Loss Account.

taxes on income

Current Tax is determined as the tax payable in respect of taxable income for the year, if any. Deferred tax for the year is recognized on timing difference; being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred Tax Assets and Liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date. Deferred Tax Assets are recognized and carried forward only if there is a reasonable/virtual certainty of realization.

Current and deferred taxes relating to items directly recognized in equity are recognized in equity and not in the Statement of Proof and Loss.

provisions and Contingencies

A provision is recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

impairment of assets

At the end of each year, the Company assesses whether any impairment loss may have occurred in respect of its Assets in accordance with Accounting Standard – 28 "Impairment of Assets" issued by the Institute of Chartered Accountants of India, and Impairment Losses if any are accounted for by the company in accordance with the Standard applicable.

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Mar 31, 2014

1.1 Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.

1.2 Use of Estimates

The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognised in the periods in which the results are known / materialised.

1.3 Inventories

Inventories are valued at the lower of cost (on FIFO basis) and the net realisable value after providing for obsolescence and other losses, where considered necessary.

1.4 Cash and cash equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

1.5 Cash Flow Statements

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

1.6 Revenue Recognition

All incomes and expenditure are recognised as per ''Accounting Standard-9'' accounted on accrual basis except where stated otherwise.

Dividends on investments are accounted for when the right to receive the dividend is established.

1.7 Employee Benefits

I. P.F and E.S.I.C Scheme is not applicable to the company.

II. Gratuity is accounted as and when it becomes due.

1.8 Segment Reporting

The Company identifies primary segments based on the dominant source, nature of risks and returns and the internal organisation and management structure. The operating segments are the segments for which separate financial information is available and for which operating profit/loss amounts are evaluated regularly by the executive Management in deciding how to allocate resources and in assessing performance.

The accounting policies adopted for segment reporting are in line with the accounting policies of the Company. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment.

Inter-segment revenue is accounted on the basis of transactions which are primarily determined based on market / fair value factors.

Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments on reasonable basis have been included under "unallocated revenue / expenses / assets / liabilities".

1.9 Investments

Long-term investments are carried individually at cost less provision for diminution, other than temporary, in the value of such investments.

Current investments are carried individually, at the lower of cost and fair value. Costs of investments include acquisition charges such as brokerage, fees and duties.

1.10 Borrowing Cost

Borrowing costs directly attributable to the acquisition and construction of qualifying fixed assets are capitalized as part of the cost of the assets, up to the date the asset is put to use. Other borrowing costs are charged to the Profit and Loss Account.

1.11 Taxes on Income

Current Tax is determined as the tax payable in respect of taxable income for the year, if any. Deferred tax for the year is recognised on timing difference; being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred Tax Assets and Liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date. Deferred Tax Assets are recognised and carried forward only if there is a reasonable/virtual certainty of realisation.

Current and deferred tax relating to items directly recognised in equity are recognised in equity and not in the Statement of Profit and Loss.

1.12 Provisions and Contingencies

A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

1.13 Impairment of Assets

At the end of each year, the Company assesses whether any impairment loss may have occurred in respect of its Assets in accordance with Accounting Standard — 28 "Impairment of Assets" issued by the Institute of Chartered Accountants of India, and Impairment Losses if any are accounted for by the company in accordance with the Standard applicable.

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Mar 31, 2012

1.1 Basis of Preparation of Financial Statements

Financial Statements have been prepared under the historical cost convention and in accordance with the provisions of Companies Act, 1956. Accounting Policies not referred to otherwise are consistent and are in accordance with the generally accepted accounting Principles in India.

1.2 Use of Estimates

The preparation of Financial Statements are in confirmity with generally accepted accounting principles requires estimates and assumptions to be made to that effect the reported amount of Assets and Liabilities on the date of financial statements and the reported amount of revenue and expenses during the reporting period. Difference between the actual results and estimates are recognized in the period in which the results are known/materialized.

1.3 Fixed Assets

The Company is not having any Fixed Assets during the year under review.

1.4 Depreciation

As the Company is not having any Fixed Asset during the year, the method of charging Depreciation is not applicable to the Company.

1.5 Investments

The Company is not having any Investment during the year.

1.6 Inventories

The Company is not having any Inventories during the year.

1.7 Taxes on Income

Provision for Taxation is made on the basis of estimated taxable income for the period at current rates. Tax expenses comprises of both Current Tax and Deferred Tax at the applicable enacted or substantively enacted rates. Current Tax represents the amount of Income Tax payable /recoverable in respect of taxable income/loss for the reporting period. Deferred Tax represents the effect of timing difference between taxable income and accounting income for the reporting period that originates in one year and are capable of reversal in one or more subsequent years.

1.8 Provisions, Contingent Liabilities and Contingent Assets

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

1.9 Revenue Recognition

Items of Income and Expenditure are recognized and accounted for on Accrual basis.

1.10 Contingent Liability, if any, are disclosed by way of Notes.

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Mar 31, 2011

1. The Financial Statements are prepared on mercantile basis under the historical cost convention in accordance with the generally accepted accounting principles in India, Accounting Standards notified under section 211(3C) of the Companies Act 1956, read with the Companies (Accounting Standard) Rules, 2006 and the other relevant provisions of the Companies Act, 1956.

Revenue Recognition

2. All revenue and expenses are accounted on accrual basis.

Fixed Assets

3. All Fixed Assets are stated at cost. Costs include purchase price and all other attributable costs of bringing the assets to working condition for intended use.

Turnover

4. Turnover is stated after adjusting rebates and discounts and excluding Sales tax

Depreciation

5. Depreciation on all assets is charged proportionately from the date of acquisition/installation on written down method at rates prescribed in Schedule XIV of the Companies Act, 1956. Assets costing less than ` 5000/- individually have been fully depreciated in the year of purchase.

Investments

6. Investments are valued at cost.

Retirement Benefit

7. None of the Employee has completed the service period to become eligible for payment of gratuity.

Income Tax

8. Provision for taxes comprising of current tax is measured in accordance with Accounting Standard 22- "Accounting For Taxes On Income" issued by the Institute of Chartered Accountants of India :

9. Tax expenses comprises of current and deferred tax.

10. Provision for current income tax and fringe benefit tax is made on the basis of relevant provisions of Income Tax Act, 1961 as applicable to the financial year.

11. Deferred Tax is recognized subject to the consideration of prudence on timing differences, being the difference between taxable Income and Accounting Income that originate in one period and are capable of reversal in one or more subsequent periods.

Provisions, Contingent Liabilities & Contingent Assets

Disclosures in terms of Accounting Standards (AS 29) Provisions, Contingent Liabilities and Contingent Assets issued by the Institute of Chartered Accountants of India :

12. The Company creates a provision when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.

13. A disclosure for a contingent liability is made when there is a possible obligation or present obligation that probably will not require an outflow of resources or where reliable estimate of the amount of the obligation cannot be made.

14. Contingent Assets are neither recognized nor disclosed.

Others

15. None of the Finished Products or Raw Materials, Stores, Spares and Components consumed or purchased during the year have been imported.

16. None of the Earnings / Expenditures is in Foreign Currency.

17. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

18. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary.

19. Investments of the Company have been considered by the management to be of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

Segment Report

20. Based on the Similarity of activities, risks and reward structure, organization structure and internal reporting systems, the Company was in no business Segment during the year.

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Mar 31, 2010

1. The Financial Statements are prepared on mercantile basis under the historical cost convention in accordance with the generally accepted accounting principles in India, Accounting Standards notified under section 211(3C) of the Companies Act 1956, read with the Companies (Accounting Standard) Rules, 2006 and the other relevant provisions of the Companies Act, 1956.

Revenue Recognition

2. All revenue and expenses are accounted on accrual basis.

Fixed Assets

3. All Fixed Assets are stated at cost. Costs include purchase price and all other attributable costs of bringing the assets to working condition for intended use.

Turnover

4. Turnover is stated after adjusting rebates and discounts and excluding Sales tax

Depreciation

5. Depreciation on all assets is charged proportionately from the date of acquisition/installation on written down method at rates prescribed in Schedule XIV of the Companies Act, 1956. Assets costing less than ' 5000/- individually have been fully depreciated in the year of purchase.

Investments

6. Investments are valued at cost.

Retirement Benefit

7. None of the Employee has completed the service period to become eligible for payment of gratuity.

Income Tax

8. Provision for taxes comprising of current tax is measured in accordance with Accounting Standard 22- “Accounting For Taxes On Income" issued by the Institute of Chartered Accountants of India :

9. Tax expenses comprises of current and deferred tax.

10. Provision for current income tax and fringe benefit tax is made on the basis of relevant provisions of Income Tax Act, 1961 as applicable to the financial year.

11. Deferred Tax is recognized subject to the consideration of prudence on timing differences, being the difference between taxable Income and Accounting Income that originate in one period and are capable of reversal in one or more subsequent periods.

Provisions, Contingent Liabilities & Contingent Assets

Disclosures in terms of Accounting Standards (AS 29) Provisions, Contingent Liabilities and Contingent Assets issued by the Institute of Chartered Accountants of India :

12. The Company creates a provision when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.

13. A disclosure for a contingent liability is made when there is a possible obligation or present obligation that probably will not require an outflow of resources or where reliable estimate of the amount of the obligation cannot be made.

14. Contingent Assets are neither recognized nor disclosed.

Others

15. None of the Finished Products or Raw Materials, Stores, Spares and Components consumed or purchased during the year have been imported.

16. None of the Earnings / Expenditures is in Foreign Currency.

17. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

18. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary.

19. Investments of the Company have been considered by the management to be of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

Segment Report

20. Based on the Similarity of activities, risks and reward structure, organization structure and internal reporting systems, the Company has structured its operations into the following Segment :-

Manufacturing of Cement and Cement Products

Hiring of its Factory on Lease/Job Work