1. Fixed Assets are stated at Revalued figures less depreciation.
Depreciation is provided on straight line method as per rates
prescribed in Schedule XIV of Companies Act, 1956, on pro-rata basis
with respect to period of usage. Capital work in progress include
advances to supplier, directly attributable expenses incurred on the
acquisition of particular asset.
2. Inventory of finished goods are valued at cost of Production or
realisable value whichever is lower. Raw materials, Consumable Stores
& packing material at lower of cost or market price and work in
progress at estimated cost.
3. Deferred Revenue Expenditure & Share Re-issue expenses shall be
written off over a period of 5 years & 10 years respectively.
4. The Physical verification of Fixed assets is carried out in phased
manner so as to cover each item of the Fixed Assets over a period of 3
years. Discrepancy, if any, is accounted for in the corresponding