a. Use of tstimates
In preparation of the financial statements, the Company makes judgments, estimates and assumptions about the carrying
amounts of assets and liabilities that are notreadily apparent from other sources. The estimates and the associated assumptions
are based on historical experience and other factors that are considered to be relevant Actual results may differ from these
estimates. The estimates and the underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognized in the period in which the estimate is revised and future periods affected.
b. Revenue Recognition
Revenue is recognized for amounts the Company expects to be entitled to in exchange for transferring promised goods and
services to a customer excluding amounts collected on behalf of third parties e.g. sales tax. Revenue from contracts with
customers is recognized when the Company satisfies the performance obligation identified in the contract through transfer of
control of the promised goods and services. Contract with a customer is accounted for when all the following criteria are met:
The parties to the contract have approved the contract and are committed to perform their respective obligations; each party's
rights regarding the goods or services to be transferred are identifiable; payment terms for the goods or services to be
transferred are identifiable; the contract has commercial substance (i.e. the risk, timing or amount of the entity's future cash
flows is expected to change as a result of the contract]; and it is probable that the entity will collect the consideration to which it
is be entitled in exchange for the goods or services that will be transferred to the customer.
Service income
Revenue from service transactions is usually recognized as the service is performed on conversion of customer's material by the
percentage completion method. Processing charges include freightand packaging charges but are net of service tax.
Interest income
Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the Company and
the amount of income can be measure reliably. Interest income is accrued on a time basis, by reference to the principal
outstanding and the effective interest rate applicable which is the rate exacdy discounts estimated future cash receipts through
the expected life of the financial asset to that asset's net carrying amount on initial recognition.
Dividend income
Dividend income from investments is recognized when the shareholder’s rights to receive payment have been established.
c) Inventories
Finished goods are valued at lower of cost or net realizable value. Net realizable value is the price at which the inventories can be
realized in the normal course of business after allowing for the cost of conversion from their existing state to a finished condition
and for the cost of marketing, selling and distribution.
d) Investments
Long-term investments are stated at cost Provision for diminution in the value of long term investment is made only if; such a
decline is other than temporary in the opinion of the management. The Current investments are stated at lower of cost or
quoted/fair vale market value computed category wise
e) Fixed, Intangible Assets & Borrowing Cost
Company has Tangible Fixed Assets and it is properly dealt by company with Ind AS-16.
f) Cash & Cash equivalent
Cash and cash equivalents comprise cash and cash or deposit with banks and corporations. The company considers all highly
liquid investments with a remaining maturity at the date of purchase of three months or Less and that are readily convertible to
know amounts of cash to be cash equivalents.
g) Employee Benefits
Company has complied with all labour laws.
h] Accounting for Taxes for Income
Deferred Tax: - Deferred tax is provided on timing differences between tax and accounting treatments that originate in one
period and are expected to be reversed or settled in subsequent periods. Deferredtax assets and liabilities are measured using
the enacted/substantively enacted tax rate for continuing operations. Adjustment of deferred tax liability attributable to change
in tax rate is shown in the statement of profit and loss as a part of the deferred tax adjustment for the year.
(ii) There is no Intangible Assets.
(iii) The borrowing cost such as interest, processing fee etc. are recognized in accordance with principal laid down in the
Accounting standard 16.
Cost of borrowing related to General borrowing in changed to profit/loss Account.
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