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Moneycontrol.com India | Notes to Account > Computers - Software Medium/Small > Notes to Account from Excel Infoways - BSE: 533090, NSE: EXCELINFO
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Excel Infoways
BSE: 533090|NSE: EXCELINFO|ISIN: INE688J01015|SECTOR: Computers - Software Medium/Small
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« Mar 11
Notes to Accounts Year End : Mar '12
1.  Corporate information
 
 Excel Infoways Limited (the Company) is a public company domiciled in
 India and incorporated under the provisions of the Companies Act, 1956.
 Its shares are listed on two stock exchanges in India. The Company is
 engaged in the IT enabled BPO Services and development of
 infrastructure facility.
 
 2.  Basis of preparation
 
 The financial statements of the Company have been prepared in
 accordance with generally accepted accounting principles in India
 (Indian GAAP). The Company has prepared these financial statements to
 comply in all material respects with the accounting standards notified
 under the Companies (Accounting Standards) Rules, 2006, (as amended)
 and the relevant provisions of the Companies Act, 1956 and guidelines
 issued by SEBI. The financial statements have been prepared on an
 accrual basis and under the historical cost convention.
 
 The'' accounting policies adopted in the preparation of financial
 statements are consistent with those of previous year, except for the
 change in accounting policy explained below.
 
 3.1 Rights, preferences and restrictions attached to shares
 
 The Company has one class of equity shares having a par value of Rs 10
 each. Each shareholder is eligible for one vote per share held.
 
 4.1 - The Company makes Provident Fund to defined contribution
 retirement benefit plans for qualifying employees.
 
 Under the schemes, the Company are required to contribute a specified
 percentage of the payroll costs to fund the benefits. In case of
 Provident Fund, the contributions specified under the law are paid to
 the Provident Fund set up to the respective Regional Provident Fund
 Commissioner.
 
 5.1 - Prior Period Items comprises short provision of Income tax of
 earlier years Rs 875.23 thousands ( Previous year Rs 12.66 thousands).  
 
 5.2- Miscellaneous Expenses includes Misc. Expenditure W/off Rs 8700
 thousands (Previous Year Rs 7762.70 thousands).
 
 6.1 Acquisitions I Disinvestments
 
 On 18.11.2011, the company has sold 25000 shares of Excel Infra N
 Realty Pvt. Ltd and hence M/s Excel Infra N Realty Pvt.  Ltd is no more
 subsidiary of Excel Info ways Ltd.
 
 7. Segment reporting
 
 7.1 Identification of segments
 
 The Company''s operating businesses are organized and managed separately
 according to the nature of business and services provided, with each
 segment representing a strategic business unit.
 
 7.2 Allocation of common costs
 
 Common allocable costs are allocated to each segment according to the
 relative contribution of each segment to the total common costs.
 
 7.3 Unallocated items
 
 Unallocated items include general corporate income and expense items
 which are not allocated to any business segment.
 
 7.4 Segment accounting policies
 
 The Company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the company as a whole.
 
 8.  Contingent Liability
 
 Guarantee to Custom Department                     474.74      313.00
 
 9.  Certain balance in loans & advances & Debtors accounts are
 subjected to confirmation/reconciliation.
 
 10.  In the opinion of Board of Directors of the Company current
 assets, loans & advances are of approximately the value stated, if
 realized in ordinary course of business.
 
 11.  These financial statements have been prepared in the format
 prescribed by the Revised Schedule VI to the Companies Act 1956.
 Previous period figures have been recanted / restated to conform to the
 classification of the current period.
Source : Dion Global Solutions Limited
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