(i) The financial statements have been prepared under the historical cost convention and accrual basis in accordance with the generally accepted accounting principles and provisions of the Companies Act, 1956 as adopted consistently by the Company.

(ii) Accounting policies not specifically referred to otherwise be consistent with generally accepted accounting principles followed by the Company.

(B) i) Tangible Assets are stated at cost of acquisition less accumulated depreciation and impairment loss (if any). Cost of acquisition includes the purchase price, duties (net of Cenvat), taxes, incidental expenses and erection / commissioning expenses which are directly attributable in bringing the asset to its working condition for the intended use.

ii) Intangible Assets are stated at cost of acquisition.

Depreciation

Depreciation on tangible assets is provided on Straight line method on the basis of useful life of the assets and in the manner prescribed in Schedule II to the Companies Act, 2013.

(D) Impairment of Assets

An asset is treated as impaired when carrying cost of the asset exceeds its recoverable amount. An impairment loss, if any, is charged To the Profit and Loss Account in the year in which an asset is identified us impaired. The impairment loss recognized in prior accounting periods is reversed if there has been a change in the estimate of the recoverable amount.

(E) Investments:

(i) Long Term Investments are carried at cost after deducting provisions, where the fall in market value has been considered as other than temporary in nature.

(ii) Current Investments are valued at lower of cost or market value.

(F) Valuation of inventories:

Raw materials, stores & spares, W1P and finished goods are valued at cost or net realizable value, whichever is lower. Cost is determined on FIFO Basis.

(F) Borrowing Cost

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. 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 revenue.

(G) Sales

Sales are net off sales tax. Revenue from sales is recognized at the point of receipt by the customers when the risk and reward stands transferred to the customers,

(H) Provisions. Contingent Liabilities & Contingent Assets

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

(I) Taxes on Income

Current Tax is determined as the tax payable in respect of taxable income for the year.

Provision is made for Deferred tax for all timing differences arising between taxable incomes and accounting income at currently enacted or substantively enacted lax sale.

Deferred Tax assets are recognized, only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each balance sheet dale.

(J) Employee Benefits

Effective from financial year 2007-08, the company adopted Accounting Standard (AS) 15 (Revised 2005) dealing with Employee Benefits, issued by the Institute of Chartered Accountants of India. The Company has defined benefit plans for gratuity to eligible employees. The Company dose not have policy of carry forward of the compensated absence to the employees,

(K) Foreign Currency Translations

All transactions in foreign currency, are recorded at the rates of exchange prevailing on the dates when the relevant transactions take place. Monetary assets and liabilities in foreign currency, outstanding at the close of the year, are converted in Indian currency at the appropriate rates of exchange prevailing on the date of the Balance Sheet, Resultant gain or loss, except to the expend it relates to Long Term monetary items, is recognized in the Statement of Profit and Loss for the year Gain or loss relating to Long Term foreign currency monetary items for financing acquisition of depreciable capital assets, is adjusted to the acquisition cost of such asset and depreciated over its remaining useful life.

(L) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for the events, such as bonus share, other than conversion of potential equity share, that have changed the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating, diluted earnings per share, the net profile or Joss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of ail dilutive potential equity shares.