A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS
(i) The Financial statements have been prepared under the historic cost
convention in accordance with the generally accepted accounting
principals and the provisions of Companies Act, 1956 as adopted
consistently by the company.
(ii) Accounting policies not specifically mentioned to other wise are
consistent and in consonance with generally accepted accounting
policies followed by the Company.
B. FIXED ASSETS AND DEPRECIATION
(i) Fixed assets are stated at acquisition cost less accumulated
depreciation. Capital work in progress includes capital advance and
preliminary and preoperative expenses of CRSS, project.
(ii) Depreciation on fixed assets has been charged on straight line
method as per schedule XIV of the Companies Act, 1956.
(i) Stock of Raw Material Stores & Spares etc. are valued at cost
(ii) Finished goods are valued at net realisable value.
(iii) Stock in process is valued at cost including related overheads.
D. Foreign currency transactions relating to sale of goods are recorded at the exchange rates of which
export bills are negotiated with the banks.
Sales includes sale of by products, waste, scrap, etc. Interest on
unsecured loans received/given to the sister concerns shall be
accounted for on cash basis.