KYC is one time exercise with a SEBI registered intermediary while dealing in securities markets (Broker/ DP/ Mutual Fund etc.). | No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.   |   Prevent unauthorized transactions in your account – Update your mobile numbers / email ids with your stock brokers. Receive information of your transactions directly from exchange on your mobile / email at the EOD | Filing Complaint on SCORES - QUICK & EASY a) Register on SCORES b) Mandatory details for filing complaints on SCORE - Name, PAN, Email, Address and Mob. no. c) Benefits - speedy redressal & Effective communication   |   BSE Prices delayed by 5 minutes...<< Prices as on Nov 21, 2024 - 3:59PM >>  ABB India 6767.15  [ 1.05% ]  ACC 2025.8  [ -7.29% ]  Ambuja Cements 483.75  [ -11.98% ]  Asian Paints Ltd. 2429.2  [ -2.17% ]  Axis Bank Ltd. 1139.1  [ 0.36% ]  Bajaj Auto 9522.8  [ -0.25% ]  Bank of Baroda 228.6  [ -3.63% ]  Bharti Airtel 1524.95  [ -0.07% ]  Bharat Heavy Ele 227.95  [ 0.84% ]  Bharat Petroleum 282.45  [ -1.77% ]  Britannia Ind. 4804.35  [ -1.83% ]  Cipla 1463  [ -0.57% ]  Coal India 406.15  [ -1.47% ]  Colgate Palm. 2690  [ -1.49% ]  Dabur India 505.8  [ -0.48% ]  DLF Ltd. 774.25  [ 1.41% ]  Dr. Reddy's Labs 1194.55  [ -1.60% ]  GAIL (India) 188.4  [ 0.99% ]  Grasim Inds. 2534  [ 1.21% ]  HCL Technologies 1836.1  [ 0.87% ]  HDFC 2729.95  [ -0.62% ]  HDFC Bank 1741.95  [ -0.02% ]  Hero MotoCorp 4753.85  [ -0.45% ]  Hindustan Unilever L 2383.25  [ -1.14% ]  Hindalco Indus. 647.7  [ 1.12% ]  ICICI Bank 1250.1  [ 0.11% ]  IDFC L 108  [ -1.77% ]  Indian Hotels Co 786.85  [ 4.44% ]  IndusInd Bank 981.7  [ -1.84% ]  Infosys L 1834.2  [ 0.47% ]  ITC Ltd. 457.15  [ -2.18% ]  Jindal St & Pwr 867.65  [ 0.24% ]  Kotak Mahindra Bank 1734.15  [ 0.43% ]  L&T 3482.5  [ -0.66% ]  Lupin Ltd. 2044.25  [ 0.35% ]  Mahi. & Mahi 2924  [ -0.82% ]  Maruti Suzuki India 10861.8  [ -0.97% ]  MTNL 42.54  [ -3.32% ]  Nestle India 2210.45  [ -0.38% ]  NIIT Ltd. 189.85  [ 0.72% ]  NMDC Ltd. 217.65  [ -1.58% ]  NTPC 356.1  [ -2.73% ]  ONGC 242.2  [ -2.30% ]  Punj. NationlBak 96.39  [ -4.48% ]  Power Grid Corpo 325.8  [ 3.41% ]  Reliance Inds. 1223.2  [ -1.46% ]  SBI 780.85  [ -2.64% ]  Vedanta 442.55  [ -0.16% ]  Shipping Corpn. 206.4  [ -1.99% ]  Sun Pharma. 1771.65  [ -0.20% ]  Tata Chemicals 1044.4  [ -2.18% ]  Tata Consumer Produc 912.2  [ -0.55% ]  Tata Motors 773.7  [ -1.24% ]  Tata Steel 140.25  [ 0.57% ]  Tata Power Co. 408.45  [ 0.09% ]  Tata Consultancy 4059.1  [ 0.49% ]  Tech Mahindra 1703.05  [ 0.23% ]  UltraTech Cement 10926  [ 1.41% ]  United Spirits 1492.15  [ 0.42% ]  Wipro 557.2  [ -0.79% ]  Zee Entertainment En 118.55  [ -3.34% ]  

Company Information

Indian Indices

  • Loading....

Global Indices

  • Loading....

Forex

  • Loading....

MEGRI SOFT LTD.

21 November 2024 | 04:00

Industry >> Infotech/Databases

Select Another Company

ISIN No INE756R01013 BSE Code / NSE Code 539012 / MEGRISOFT Book Value (Rs.) 69.45 Face Value 10.00
Bookclosure 30/09/2024 52Week High 178 EPS 2.17 P/E 86.24
Market Cap. 58.86 Cr. 52Week Low 74 P/BV / Div Yield (%) 2.70 / 0.00 Market Lot 1.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2015-03 
2.1 Basis of Preparation of Financial Statements

These financial statements have been prepared to comply with Generally Accepted Accounting Principles in India (Indian GAAP) including the Accounting Standards notified under the relevant provisions of the Companies Act 2013.

These Financial Statements are prepared on accrual basis under historical cost convention. These Financial Statements are presented in Indian Rupees rounded off to the nearest Rupees.

2.2 Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires judgements, estimates and assumptions to be made that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities on the date of financial statements and reported amount of revenue and expenses during the reporting period. Difference between actual results and estimates are recognised in the period in which the results are known.

2.3 Fixed Assets

a. Tangible Assets

Tangible Assets are stated at cost of acquisition along with related taxes, duties and incidental expenses related to these assets, net of accumulated depreciation and accumulated impairment, if any.

b. Intangible Assets

Intangible Assets are stated at their cost of acquisition, net of accumulated amortisation and accumulated impairment, if any. Projects whose technical & commercial feasibility is demonstrated, future economic benefits are probable, the company has an intention and ability to complete and use or sell the asset, and cost can be measured reliably, are shown as Intangible Assets under Development.

c. Subsequent expenditures related to an item of fixed asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance.

d. Gain/losses arising from disposal of fixed assets are recognised in the Statement of Profit and Loss.

2.4 Depreciation & Amortization

Tangible Assets - Depreciation on tangible assets is provided on the straight-line method over the useful life of the assets as prescribed in the Schedule II to the Companies Act 2013 except in respect of the following assets:

Client Computer - 5 years*

Intangible assets are amortised over their respective individual estimated useful lives on straight line basis, commencing from the date asset is available for use to the company.

Computer Software - 6 Years*

Web Properties - 10 Years*

(*Note: for this based on internal assessment and independent technical evaluation carried out by external valuer, the management believes that the useful life as given above best represents the period over which management expects to use the assets.)

2.5 Impairment

An asset is treated as impaired when the carrying cost of the asset exceeds its recoverable value. An impairment loss is charged to Profit & Loss Statement in the year in which asset is identified as impaired. The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimated recoverable amount.

2.6 Foreign Currency Transactions

a. Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on the date of the transaction or that approximates the actual rate as at the date of transaction.

b. Any income or expenses on account of exchange differences either on settlement or translation/restatement is recognised in the Profit and Loss statement .

2.7 Income Taxes

Tax expense comprises of current tax & deferred tax. Income taxes are accrued in the same period that the related revenue and expenses arise. A provision is made for income tax, based on the tax liability computed, after considering tax allowances and exemptions. Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives rise to future economic benefits in the form of tax credit against future income tax liability, is recognized as an asset in the Balance Sheet if there is convincing evidence that the Company will pay normal tax after the tax holiday period and the resultant asset can be measured reliably.

The differences that result between the profit considered for income taxes and the profit as per the financial statements are identified,and thereafter a deferred tax asset or liability is recorded for timing differences, namely the differences that originate in one accounting period and reverse in another, based on the tax effect of the aggregate amount of timing difference. Deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realized. Deferred tax assets, other than in situation of unabsorbed depreciation and carried forward business losses, are recognized only if there is reasonable certainty that they will be realized. Deferred tax assets are reviewed for the appropriateness of their respective carrying values at each reporting date. Deferred tax assets and liabilities have been offset wherever the Company has a legally enforceable right to set off current tax assets against current tax liabilities and where the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority.

2.8 Investments

Current Investments, if any, are stated at cost or fair market value, whichever is lower. Non current investments are stated at cost. Provision for diminution in the value of N on current investments is made, only if a decline is other than temporary.

2.9 Provisions & Contingent Liabilities

A provision is recognized if, as a result of a past event, the Company has a present legal obligation that is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as contingent liability.

A disclosure for a contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

2.10 Revenue Recognition

The company's revenue is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue and costs, if applicable, can be measured reliably. Revenue is recognized in the Statement of Profit & Loss as follows:

* Revenue from services rendered is recognized as the service is performed.

* Revenue from the sale of Software products is recognized when the sale is completed with the passing of title.

* Incomes from domain registration, web hosting, set-up and configuration charges are recognized on activation of customer account.

* Revenue from software and web development contracts are recognized on the completion of development work.

* Interest income is recognised on accrual basis.

2.11 Earning Per Share

Basic earnings per share is computed by dividing the net profit after tax by the weighted average number of equity shares outstanding during the period.