| 1.1 In terms of Accounting Standard "22" issued by The Institute of
Chartered Accountants of India, the Company has recognized a net
deferred tax assets of Rs. 111.91 lacs (previous year Rs.53.67 lacs) on
a reasonable and conservative basis, which would be available for set
off against the future profits of the Company.
1.2 In accordance with the Accounting Standard "17" issued by The
Institute of Chartered Accountants of India, the necessary disclosure
in respect of reportable segments has been given in Annexure "A" which
forms part of the Balance Sheet.
1.3 Pursuant to Notification No. G S R 129(E) dated 22nd February, 1999
issued by Ministry of Law & Justice and Company Affairs and The Micro,
Small & Medium Enterprises Development Act, 2006, the name(s) of the
small scale industrial undertaking(s) to whom the Company owe a sum
exceeding Rs. 1.00 Lac which is outstanding for more than 30 days as on
31.03.2015 have not been furnished in view of insufficient information
from the suppliers regarding their status as SSI unit hence amount
overdue to small scale industrial undertakings as on 31.03.2015 cannot
be ascertained. However, no specific claims have been received for
interest from suppliers with reference to the "Interest on Delayed
Payments Small Scale Ancillary Industrial Undertakings Act, 1993".
1.4 In accordance with Accounting Standard "9", "Recognition of
Revenue", issued by the Institute of Chartered Accountants of India,
the Company has reduced inter unit sales/purchase from the purchase &
sales of respective units amounting to Rs. 138.55 lacs (previous year
Rs. 208.21 lacs). However, the above has no impact on the profitability
of the Company for the year. Further, sales for the year includes
export sales of Rs. 5.27 lacs (previous year Rs. 4.74 lacs).
1.5 In the opinion of the management, Current Assets and Loans &
Advances have a value on realization in ordinary course of business at
least equal to the amount at which they are stated.
1.6 Balances in Trade Receivables, Trade Payables, Short Term Loans and
Advances, Long Term Loans and Advances are subject to confirmation/
reconciliation/ adjustment, if any. The effect of such adjustments
shall be determined and accounted for in the year of determination.
1.7 As per requirements of Schedule-II to the Companies Act, 2013 ('
Act') effective from 1st April,2014, the Company has revised the useful
life of the fixed assets during the year. As a result Rs.31.75 lacs
pertaining to assets for which the remaining useful life was Nil as on
1st April, 2014 has been adjusted from retained earnings. Further
depreciation charged for the year ended 31st March, 2015 would have
been lower by Rs. 10.69 lacs respectively.
1.8 Previous year's figures have been regrouped/ rearranged/
reclassified wherever consider necessary in order to meet current year
classification.
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