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Company Information

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3B FILMS LTD.

02 July 2025 | 04:01

Industry >> Packaging & Containers

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ISIN No INE0TE101010 BSE Code / NSE Code 544412 / 3BFILMS Book Value (Rs.) 14.97 Face Value 10.00
Bookclosure 52Week High 49 EPS 1.53 P/E 18.06
Market Cap. 77.48 Cr. 52Week Low 27 P/BV / Div Yield (%) 1.85 / 0.00 Market Lot 3,000.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2024-03 

1. General Information of the Company:

The Company was incorporated in the year 2014. The promoters have subscribed to the required minimum paid up capital of Rs. 1 lac at the time of incorporation. The company is a Vadodara, Gujarat, based Limited company engaged in the business of "Manufacturing of Cast Poly Propylene Films".

2. Significant Accounting Policies:

a) Basis of Accounting :

The accounts of the Company are prepared under the Historical Cost Convention and using the accrual method of accounting unless otherwise stated hereinafter, to comply in all material aspects, with the mandatory accounting standards as notified under section 133 of the Companies (Accounting Standard) Rules, 2014 and the relevant provisions of the Companies Act, 2013 and in conformity with accounting principles generally accepted in India. Accounting Policies, not specifically referred to, are consistent and in consonance with generally accepted accounting principles

b) Use of Estimates :

The preparation of financial statements in conformity with generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amounts of assets and the liabilities and the disclosure of contingent liabilities on the date of financial statements and the results of operations during the reporting periods. Although these estimates are based upon management's knowledge of current events and actions, actual results could differ from those estimates and revisions, if and, are recognized in the current and future periods.

c) Fixed Assets & Depreciation :

Fixed Assets are stated at their cost of acquisition. The cost of acquisition includes freight, installation cost, duties, taxes and other incidental expenses, identifiable with the asset, incurred

during the installation / construction stage in order to bring the assets to their working condition for intended use.

Depreciation on assets is being provided on Useful life method (Straight Line Method) in accordance with section 123 of the Companies Act, 2013 at the rate and in the manner prescribed in Schedule II of the said Act.

d) Inventories :

=> Raw Materials are valued 'at Cost' on FIFO basis. 'Cost1 includes ail duties, taxes and other expenses incurred to bring the inventories to their present location and condition.

=> Finished products are valued at lower of cost or net realisable value

=> Semi-Finished goods have been valued at Raw Material cost increased by a proportion of overheads in consonance with the stage of completion as certified by the management.

e) Sales/Turnover and Income Recognition:

=> Revenue is recognized on transfer of property in goods or on transfer of significant risks and rewards of ownership to the buyer, for a consideration, without the seller retaining any effective control over the goods.

=> Sales are accounted on dispatch of goods (which generally coincides with the transfer of ownership) and are exclusive of sales tax / GST.

Other items of income such as Interest, Discount,etc'are accounted on accrual basis (depending T on certainty of realisation) and disclosed under the head "Other Income"

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f) Retirement Benefits :

=> Provisions of Provident Fund, ESI are charged to Profit & Loss Account.

Retirement Benefits in form of Gratuity are defined benefit obligations and are provided for on the basis of actuarial valuation as at the balance sheet date. Actuarial gain / losses are immediately taken to the Statement of Profit and Loss and are not deferred.

=> As such Company does not have any long-term or short-term benefit plans for the employees and hence no provision is required for any retirement benefits.

g) Accounting for Taxes on Income:

=> Provision for taxation includes provision for current tax and deferred tax.

-> Provision for Current tax is made, based on tax estimated to be payable as computed under the various provisions of the Income Tax Act, 1961.

=> Deferred tax is recognised, subject to prudence, on timing differences between taxable income and accounting income that originate during the year and are capable of being reversed in one or more subsequent periods. Deferred tax assets are recognised only to the extent that there is a reasonable certainty that future taxable income will be available against which such deferred tax assets can be realised. Deferred Tax Liabilities / Assets are quantified using the tax rates and tax laws enacted or substantively enacted as on the balance sheet date.

h) Foreign Currency Transactions

Transactions in foreign currency, to the extent not covered by forward contracts, are recorded in Indian Rupees at the exchange rate prevailing on the date of the transactions. Exchange gains or losses on settlement, if any, are normally treated as income or expenditure respectively in the Statement of Profit and Loss.

Liabilities in foreign currency as well as receivables in foreign currency, being monetary items, as on the date of the Balance Sheet have been restated into Indian rupees at the rates of exchange prevailing as on the date of Balance Sheet. Non Monetary items, if any, which are carried in terms of historical cost denominated in Foreign Currency are reported using the exchange rate at the date of transaction. 1

1

Contingencies / Provisions ;

Provisions requiring a substantial degree of estimation in measurement are recognized, if in the opinion of the Management, there is a probability that a present obligation as a result of past events will result in an outflow for the Company in the future. Contingencies, the outcome of which is not certain, have been disclosed in these notes as Contingent Liabilities. Contingent Assets are neither recognized nor disclosed in the financial statements.