1. ACCOUNTING CONCEPTS: The Accounts are prepared under historical
cost convention, and mercantile system of accounting is followed.
2. DEPRECIATION : Depreciation is provided under the written down
value method as per the rates specified in the Companies Act: 1956.
3. VALUATION STOCK OF MATERIALS etc.. : Stock of materials is valued
at cost, work-in-progress have been valued including cost of materials
and labour, transport charges.