Algoritmo de predicción de imágenes portales: PDIP

The preparation of financial statements requires the management to make estimates and assumptions in the reported amounts of assets and liabilities (including current liabilities) as of the date of the financial statements and the reported income and expenses during the reporting period. Management believes that the estimates used in preparation of the financial statements as prudent and reasonable. Future results could differ from these estimates. Difference between actual results and estimates are recognized in the period in which results are known/materialized

6. Valuation of Inventory

(a) The stock of Work-in-progress and finished goods of the Business has been valued at the lower of cost and net realizable value. The cost has been measured on the standard cost basis and includes cost of materials and cost of conversion to its present location & condition.

(b) All other inventories of stores, consumables, raw materials are valued at cost. The stock of waste is valued at realizable value. Cost is measured on actual average for the whole year.

7. Revenue Recognition

(a) Sales and operating income includes sale of products, by-products and waste, income from job work services and foreign exchange differences. Sales are recognized based on passage of title to goods which generally coincides with dispatch. Revenue from export sales are recognized on shipment basis. Sales are stated net of returns, excise duty and Sales Tax/VAT. Export incentives are accounted on accrual basis at the time of export of goods, if the entitlement can be estimated with reasonable accuracy and conditions precedent to claim are fulfilled.

(b) Interest income is recognized on time proportion basis taking into account the amount outstanding and the rate applicable.

(c) Revenue from job work services is recognized based on the services rendered in accordance with the terms of contracts.

(d) Claims receivable on account of Insurance are accounted for to the extent the Company is reasonably certain of their ultimate collection.

8. Fixed Assets & Depreciation

(a) Fixed assets are stated at their original cost of acquisition less accumulated depreciation and impairment losses. Cost comprises of all costs incurred to bring the assets to their location and working condition and includes all expenses incurred up to the date of commercial utilization.

(b) Depreciation on Fixed Assets is provided, pro rata for the period of use, on Straight Line Method (SLM), as per rates specified in the Schedule XIV to the Companies Act, 1956.

(c) In respect of addition and sales of assets during the year, depreciation is provided on pro rata basis. (d) Expenditure on projects pending capitalization is shown under the head “Capital Work in Progress”

which will be capitalized in respective heads of Fixed Assets after commencement of commercial production.

(e) Individual assets costing less than Rs. 5,000/- have been fully depreciated in the year of purchase on pro rata basis.

9. Foreign Currency Transactions

(a) Transactions denominated in foreign currencies are normally recorded at the exchange rate declare by the custom authorized for the relevant period.

(b) Monetary Items denominated in foreign currencies at the year end are restated at year end rates. (c) Non-monetary foreign currency items are carried at cost.

(d) Any income or expense on account of exchange differences either on settlement or on translation is recognized in Profit & Loss account except in cases where they related to acquisition of fixed assets, which are adjusted to carrying cost of such assets.

(e) Indian Rupee is the reporting currency of the Company and its Indian Subsidiaries. However, the

functional currency of foreign subsidiaries is their local currency. The translation of foreign currency of foreign subsidiary into Indian Rupees is performed for asset, liabilities, using closing rate & revenue, cost and expenses using average exchange rates. Resultant currency translation exchange gain / loss is

disclosed is “Translation Reserve”. Contingent liabilities are translated at closing rates.

10. Investments

(a) Investments in associates are valued at cost less any provision for impairment. Investments are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable.

(b) Investments classified as held for trading that have a market price are measured at fair value and gain/loss arising on account of fair valuation is routed through profit and loss Account.

11. Employees Benefit:

a. Provident Fund of the Regional Provident Fund Commissioner is a defined contribution scheme, and contribution made to Regional Provident Fund Commissioner is charged to profit & loss account. b. Gratuity liability is defined benefit obligation and is provided for on the basis of actuarial basis and is

being funded every year through policy of approved fund.

c. Liability of Leave encashment is accounted for on the basis of actuarial valuation and is being funded through policy of approved fund.

12. Borrowing Cost

Borrowing costs include interest, fees and other charges incurred in connection with the borrowing of funds. Borrowing costs that are attributable to the acquisition/construction of qualifying assets are capitalized as part of the cost of such asset. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to Profit and Loss Account.

13. Earning Per Share

The group reports basic and diluted Earnings Per Share (EPS) in accordance with AS 20 on Earnings Per Share. Basic EPS is computed by dividing the net profit or loss available for equity share holder’s for the year by the weighted average number of Equity shares outstanding during the year. Diluted EPS is computed by dividing the net profit or loss available for equity share holder’s for the year by the weighted average number of equity shares outstanding during the year as adjusted for the effects of all dilutive potential equity shares, except where the results are anti-dilutive.

Restated EPS is computed by dividing Net Profit & Loss available for equity share holders with weighted average No. of equity shares after giving of Bonus Shares for all the period presented.

14. Taxes:

(a) Income-Tax expense for the year comprises current tax and deferred tax.

(b) Provision for current tax is made on the basis of the assessable income at the tax rate applicable

to the relevant assessment year.

(c) The deferred tax results from "timing difference" between taxable and accounting income is

accounted for using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a virtual certainty that the asset will be realized in future

15. Impairment of Assets

An asset is considered as impaired in accordance with AS 28 on Impairment of Assets when at balance sheet date there are indications of impairment and the carrying amount of the asset, or where applicable the cash generating unit to which the asset belongs, exceeds its recoverable amount (i.e. the higher of the asset's net selling price and value in use). The carrying amount is reduced to the recoverable amount and the reduction is recognized as an impairment loss in the profit and loss account.

16. Provision, Contingent Liabilities and Contingent Assets

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the accounts by way of a note. Contingent assets are neither recognized nor disclosed in the financial statements.