COMPANY INFORMATION
Aristo Bio-Tech and Life science Limited ("the company") is a dedicated Crop Protection company providing Best Quality
manufacturing, formulation, supply and packaging job work services for various Pesticides: Insecticides, Herbicides, Fungicides,
Plant Growth Regulators and a wide variety of other Agrochemicals in India as well as for Export.
The company is a public limited company incorporated and domiciled in India and has its registered office at Manjusar, Vadodara,
Gujarat, India. The Equity shares of the company are listed on National Stock Exchange of India Limited (SYMBOL/ISIN-
ARISTO/INE082101010).
SIGNIFICANT ACCOUNTING POLICIES & NOTES TO THE ACCOUNTS
A. Basis of Preparation of Financial Statements
Financial statements have been prepared under the historical cost convention in accordance with the generally accepted
accounting principles in India and the provisions of the Companies Act, 2013. The Company follows the mercantile system
of accounting and recognizes income and expenditure on accrual basis except statutory claims/ refunds, which are
accounted at the time of their admission by the concerned authorities.
B. Property, Plant and Equipment’s (PPE)
Property, Plant and Equipments (PPE) PPE are recorded at cost of acquisition / construction less accumulated depreciation
and impairment losses, if any. Cost comprises of the purchase price net of indirect taxes, if any, and any attributable cost of
bringing the assets to its working condition for its intended use. Spare parts are treated as capital assets when they meet the
definition of PPE. Otherwise, such items are classified as inventory. Any gains or losses on their disposal, determined by
comparing sales proceeds with carrying amount, are recognized in the Statement of Profit or Loss.
C. Depreciation
Depreciation on fixed assets has been provided on Written down Method at the rates provided in part C of Schedule II of the
Companies Act, 2013. Depreciation has been provided on Freehold land.
D. Foreign Currency Transaction
Foreign-currency-denominated monetary assets and liabilities are translated at exchange rates in effect at the Balance Sheet
date. The gains or losses resulting from such translations are included in the statement of Profit and Loss.
Revenue, expenses and cash flow items denominated in foreign currencies are translated using the exchange rate in effect
on the date of the transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are
included in determining net profit for the period in which the transaction is settled.
E. Investments
As such the company does not have any Items of Current investments, however if company has to maintain the same shall
be carried at the lower of cost and quoted/fair value, computed category wise.
Company does not have any Items of Long-term investments, however if company has to maintain the same shall be carried
at cost and provision for diminution in the value of long-term investments is made only if such a decline is other than
temporary in the opinion of the management.
F. Inventories
Items of inventories are valued at lower of cost or net realizable value. Raw materials, stores and spare parts are valued at
FIFO/weighted average basis. Cost of finished goods and stock in process is determined by taking material, labor and
overheads.
G. Revenue Recognition:
Revenue is recognized based on nature of activity when consideration can be reasonably measured and there exists
reasonable certainty of its recovery.
a) Sales of Goods & Services
b) Interest income is accrued at applicable interest rate.
c) Other items of income are accounted as and when the right to receive arises.
H. Employee Benefits:
I. Short term employee benefits:
All employee benefits falling due wholly within twelve months of rendering the service are classified as short-term
employee benefits. The benefits like salaries, wages, short term compensated absences, etc are recognized in the period
in which the employee renders the related service.
II. Retirement benefits:
The Company operates a defined contribution gratuity plan which requires contributions to be made to a separately
administered fund by the Life Insurance Corporation of India (LIC). The cost of providing benefits under the defined
benefit plan is determined using the projected unit credit method. The premium paid by the company is charged to the
Statement of Profit and Loss.
Leave encashment is recorded in the books of the Company as and when the same arises and becomes payable. The
Company does not make any provisions in the books of account for leave encashment becoming due or expected after
the balance sheet date.
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