a) Accounting Concepts
The financial statements are presented on going concern concept and in
accordance with Indian Generally Accepted Accounting Principles (GAAP).
b) Fixed Assets and Depreciation
Fixed Assets are stated at the cost of acquisition or construction and
putting it to working condition
Depreciation on Buildings and Plant & Machinery is charged on straight
line method and other assets on Written Down Value method, except
Assets of Energy Division.
Depreciation on fixed assets of Energy Division is provided on straight
line method at the rates and in the manner prescribed as per
notification no.151 dated 29.03.1994 issued by Ministry of Power
(Department of Power).
i) Raw Materials and other Materials are valued at weighted average
ii) Stores and Spares at Cost
iii) Work - in - Process at cost of material plus labour and other
iv) Finished Goods at Cost or net realizable value whichever is lower.
d) Employee Benefits
Employee Retirement Benefits being Gratuity and Privilege Leave
Encashment are provided on actuarial valuation as envisaged in
Accounting Standard 15.
e) Income Tax Expense
Deferred (Income Tax) is provided as envisaged in Accounting Standard
f) Foreign Currency Transactions
Loss or gain due to fluctuations in foreign currency exchange rates is
recognized as envisaged in Accounting Standard 11.
1. The Company has only one class of equity shares having a par value
of Rs. 10/- per share. Each holder of Equity shares is entitled to one
vote per share. The company declares and pays dividends in Indian
rupees. The dividend proposed by the Board of Directors is subject to
the approval of the shareholders in the ensuing Annual general Meeting.
2. For the Year Ended 31st March,2012, the amount of per share
dividend recognized as distribution to equity share holders was Rs.2/-
(31st March 2011: Rs.1.50 per share)
As per records of the company, including its register of
shareholders/members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both
legal and beneficial ownerships of shares.
3. In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the