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ANS INDUSTRIES LTD.

18 June 2024 | 12:00

Industry >> Food Processing & Packaging

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ISIN No INE234J01018 BSE Code / NSE Code 531406 / ANSINDUS Book Value (Rs.) 5.62 Face Value 10.00
Bookclosure 30/09/2023 52Week High 16 EPS 0.00 P/E 0.00
Market Cap. 11.87 Cr. 52Week Low 6 P/BV / Div Yield (%) 2.28 / 0.00 Market Lot 1.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2016-03 

1. Corporate information

Ans Industries Ltd is in the business of manufacture and marketing of Frozen Foods under the brand name of "Maxxo fresh". Ans has manufacturing facilities at Karnal (Haryana).

2. Significant accounting policies

2.1 Basis of accounting and preparation of financial statements

The financial statements are prepared on accrual basis under the historical cost convention in accordance with the provisions of the Companies Act, 2013 and the accounting standards notifies by the Companies(Accounting Standards) Rules ,2006(India GAAP) as adopted consistently by the Company .

2.2. Use of estimates

The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialize.

2.3 Inventories

Inventories are valued at the lower of cost weighted average basis and the net realizable value after providing for obsolescence and other losses, where considered necessary. Cost includes all charges in bringing the goods to the point of sale, including octroi and other levies, transit insurance and receiving charges. Work-in-progress and finished goods include appropriate proportion of overheads and, where applicable, excise duty.

2.4 Cash and cash equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

2.5 Cash flow statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

2.6 Depreciation and amortization

Depreciation is provided on the WDV method as per the rates prescribed in Schedule II to the Companies Act, 2013 .Free Hold Land is not depreciated.

2.7 Revenue recognition

Sale of goods

Sales are recognized, net of returns and trade discounts, on transfer of significant risks and rewards of ownership to the buyer, which generally coincides with the delivery of goods to customers. Sales include excise duty but exclude sales tax and value added tax.

2.8 Other income

Interest income is accounted on accrual basis. Dividend income is accounted for when the right to receive it is established.

2.9 Tangible fixed assets

Tangible Fixed Assets are stated at cost / revalued amount less accumulated depreciation. Cost comprises purchase price plus attributable cost (including borrowing and financing cost during the period of construction).

2.10 Capital work-in-progress:

Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost, related incidental expenses and attributable interest.

2.11 Investments

Long term investments are carried at cost.

2.12 Employee Benefits

Employee benefits include provident fund, superannuation fund, gratuity fund, Leave encashment ,compensated absences, long service awards and post-employment medical benefits.

2.13 Earnings per share

Basic earnings per share is computed by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

5. In the opinion of the management, current assets, if realized in the ordinary course of business, would yield a sum equal to their value stated in the Balance Sheet, Previous Year figures have been reworked, regrouped, rearranged and reclassified wherever necessary in order to conform to his year's presentation.

6. No provision is made for interest payable on security of Rs. 50 Lacs received from M/s Chambal Fertilizers & Chemical Ltd.

7. Previous year's figures have been regrouped/ recast/ rearranged/ reclassified wherever necessary.