The Financial statements are prepared under historical cost convention
on an accrual basis and comply with the accounting standards referred
to in Section 211 ( 3C ) of the Companies Act, 1956.
ii] Fixed Assets:
Fixed assets are stated at original cost net of tax / duty credits
availed, if any.
iii] Capital work in progress:
The capital work in progress as on 31-03-2012 is Rs. Nil
Fixed Assets are depreciated under Straight Line Method. The applicable
rates are as provided under Schedule XTV to the Companies Act, 1956.
Depreciation on additions / deletions of assets during the year is
provided on a pro-rata basis.
Raw materials and packing materials are valued at cost on FIFO basis as
per revised Accounting Standard AS-2 of the Institute of Chartered
Accountants of India. Finished goods and semi-finished goods are valued
at lower of cost or net realizable value.
Investments are stated at cost. vii] Sales:
Sales are recognized at the time of dispatch of goods. All sales are
shown inclusive of excise duty and exclusive of Sales Tax (VAT).
viii] Other income:
Includes interest on Fixed Deposits with Bank, dividends received and
capital gains on the shares sold.
ix] Research and Development Expenses:
No capitalization of Research and Development expenses is made since no
capital expenditure on research and development expenditure has been
incurred during the year.
x] Foreign Currency Transactions:
Export earnings of Rs.Nil (Previous Year - Rs.NIL)
Foreign Exchange Outgo of Rs.NIL (Previous Year - Rs. NIL /-)
xi] Retirement Benefits:
Retirement benefit in respect of gratuity is not provided for, and
liability is not ascertained.
Privilege leave entitlement: Privilege leave entitlements are
recognized as a liability as and when the same is encashed by the
Provident Fund: Contribution to Government provident Fund are made as
per the provisions regularly.