Inventory is taken and valued as certified by the management.
Mode of valuation:
Raw materials, work-in-progress, finished goods, consumables have been
valued at lower of cost and net realizable value. The cost in respect
of various items of inventory is computed as under :
- Raw materials at actual cost plus direct expenses incurred to bring
the stock at its present position and location excluding VAT.
- Work-in-progress at raw material cost plus conversion cost depending
upon the stage of completion. .
- Finished goods at raw material cost plus conversion cost incurred to
bring the goods up to their present condition and location.
- Consumables at actual cost plus direct expenses incurred to bring the
stock at its present position and location excluding VAT.
- Waste has been valued at net realizable value.
Note No. 1
Balances of various parties are subject to confirmation. However, in
the opinion of the Board of Directors, all the Current Assets, Loans &
Advances have a value on realisation in the ordinary course of business
at least equal to the amount at which they are stated, except as
expressly stated otherwise.
Note No. 2 Deferred Tax
As a matter of prudence, deferred tax assets amounting to Rs. 3.64
Lacs (Previous year Rs. 3.38 Lacs) on account of timing difference in
depreciation has not been recognised in accounts.
Note No. 3
Previous year figures have been grouped or regrouped wherever necessary
to make the figures comparable.
Note No. 4
RELATED PARTY DISCLOSURES
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below:
1. List of Related Parties where controls exists and related parties
with whom transactions have taken place: Nature of Relation KEY
Sh. Tej Paul Oswal
Sh. Bharatt Oswall