a) Fixed Assets are valued at cost.
b) Borrowing costs comprising interest etc. relating to projects are
capitalised up to the date of its completion and other borrowing costs
are charged to Profit & Loss Account in the year of their accrual.
c) Depreciation on Machinery & Building has been provided on Straight
Line Method and that on the other Assets on Written Down Value method
in accordance with Schedule XIV of the Companies Act, 1956 as in force
as on the date of Balance Sheet. Lease hold land is depreciated based
on period of residual lease.
d) Finished paper stock is valued at lower of cost or market value. All
other inventories are valued at lower of cost on First In First Out
Method or realisable value.
e) Investments are classified into current and long term
investments.Current investments are stated at lower of cost or fair
value.Long term investments are stated at cost, less provision for
permanent diminution in value ,if any.
f) (i) Contributions to defined contribution schemes,namely,Provident
Fund and Superannuation Fund is made at a pre-determined rates and are
charged to the Profit & Loss Account.
(ii) Contributions to the defined benefit scheme,namely,Gratuity Fund &
provision for the remaining Gratu- ity and for Leave encashment are
made on the basis of actuarial valuations made in accordance with the
revised Accounting Standard (AS) 15 at the end of each Financial Year
and are charged to the Profit & Loss Account of the year.
(iii) Actuarial gains & losses are recognized immediately in the Profit
& Loss Account.
g) Foreign Exchange Transactions are recorded at the then prevailing
rate.Closing balances of Assets & Liabilities relating to foreign
currency transactions are converted into rupees at the rates prevailing
on the date of the Balance Sheet.
The difference for transactions are dealt with in the Profit & Loss
h) Revenue recognition is postponed to a later year only when it is not
possible to estimate it with reasonable accuracy.
i) Factors giving rise to any indication of any impairment of the
carrying amount of the company''s assets are appraised at each balance
sheet date to determine and provide /revert an impairment loss
following accounting standard AS 28 for impairment of assets.
(b) The Deferred Tax Asset in respect of carry forward of losses and
tax credit has been worked out on the basis of assessment
orders,returns of income filed for subsequent assessment years and
estimate of the taxable income for the year ending 31st March ,2012.