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Company Information

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CHAMAN LAL SETIA EXPORTS LTD.

17 October 2025 | 12:00

Industry >> Agricultural Products

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ISIN No INE419D01026 BSE Code / NSE Code 530307 / CLSEL Book Value (Rs.) 135.83 Face Value 2.00
Bookclosure 15/09/2025 52Week High 447 EPS 20.69 P/E 12.79
Market Cap. 1316.24 Cr. 52Week Low 252 P/BV / Div Yield (%) 1.95 / 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 :2025-03 

2. Significant Accounting Policies:

This note provides a list of the significant accounting policies adopted in the preparation of these
financial statements. These policies have been consistently applied to all the periods presented, unless
otherwise stated.

(2.1) Compliance with IND AS

The Company has adopted the Indian Accounting Standard (‘IND AS') w.e.f. 01.04.2017 These financial
statements have been prepared in accordance with the recognition and measurement principles stated
therein and as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued
thereunder and as amended from time to time and the other accounting principles generally accepted in
India.

(2.2) Basis of Preparation

The standalone financial statements (‘financial statements') of the Company have been prepared in
accordance with the Indian Accounting Standards (Ind AS) notified under Companies (Indian Accounting
Standards) Rules, 2015 (as amended from time to time) and presentation requirements of Division II of
Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule III), as applicable to the standalone
financial statements,

Accounting policies have been consistently applied except where a newly issued accounting standard
is initially adopted or a revision to an existing accounting standard requires a change in the accounting
policy hitherto in use or where a more appropriate presentation is needed by the stakeholders.

The standalone financial statements have been prepared on a going concern basis in accordance with
accounting principles generally accepted in India.

(2.3) Basis of measurement

These financial statements are prepared under the historical cost convention except for the
following assets and liabilities which have been measured at fair value:

• Certain financial assets and liabilities (including derivative instruments) measured at fair value
(refer accounting policy regarding financial instruments)nts)

• Defined benefit plans - plan assets measured at fair value

The financial statements are presented in Indian Rupees, except when otherwise indicated.

These financial statements of the Company have been prepared in accordance with Indian Accounting
Standards ("IND AS”) as notified by Ministry of Corporate Affairs pursuant to section 133 of the Companies
Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (as amended).

(i) Historical Cost Convention

The Financial Statements have been prepared on the historical cost convention on going concern
basis. The accounting policies are applied consistently to all the periods presented in the financial
statements, including the preparation of the opening Ind AS Balance Sheet as at April 01, 2016
being the ‘date of transition to Ind AS’.

(ii) Classification of assets and liabilities

The classification of assets and liabilities into current and non-current, wherever applicable, are
based on normal operating cycles of business activities of the Company, which is twelve months.

3, Use of Estimates and Judgments

The preparation of the Financial Statements in conformity with Ind AS requires management to make certain
assumptions, Judgements and estimates that effect the reported amount, the Financial Statements and notes
thereto. Difference, if any, between the actual and the estimate is recognised in the year in which the same are
acknowledged/ materialized. These estimates, judgments and assumptions affect the application of accounting
policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities
at the date of the financial statements and reported amounts of revenues and expenses during the period.
Accounting estimates could change from period to period. Actual results could differ from those estimates.
Appropriate changes in estimates are made as management becomes aware of changes in circumstances
surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which
changes are made and, if material, their effects are disclosed in the notes to the financial statements.

4 Summary of Significant Accounting Policies:

4,1 Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company
and the revenue can be reliably measured, regardless of when the payment is being made.

Revenue is measured based on the consideration specified in a contract with a customer and excludes
amounts collected on behalf of third parties, if any. The Company recognizes revenue when it transfers
control over a product or service to a customer.

To determine whether to recognize revenue, the Company follows a 5-step process:

• Identifying the contract with a customer

• Identifying the performance obligations

• Determining the transaction price

• Allocating the transaction price to the performance obligations

• Recognising revenue when/as performance obligation(s) are satisfied.

Export sales are recognized at exchange rate prevalent on the date of shipping bills. Domestic sales are
recognized net of discounts, Scheme on Sales, Sale Returns and GST

Revenue in respect of Insurance / others claims and Commission, etc. is recognised only when it is
reasonably certain that the ultimate collection will be made.

Revenue in respect of Interest is measured as per effective interest method provided in IND-AS 109.

4.2 Dividend to equity shareholders

Dividend to equity shareholders is recognized as a liability and deducted from total equity, in the period in
which dividend is paid after approval of equity shareholders in the general meeting as per applicable Ind
as.

In other words when right to receive the payment of shareholders is established.

It is probable that the economic benefits associated with the dividend will flow to the Company, and the
amount of the dividend can be measured reliably.

Interest Incomei-

Interest income is recognized using the time proportion method based on the rates implicit in the
transaction.

4.3 Leases

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of Ind AS
116. Identification of a lease requires significant judgment. The Company uses significant judgement in
assessing the lease term (including anticipated renewals) and the applicable discount rate.

In respect of operating lease, lease rentals are accounted on accrual basis in accordance with the
respective lease agreements. However, there is no lease as on the date.

Leases under which the Company assumes substantially all the risks and rewards of ownership are
classified as finance leases. When acquired, such assets are capitalized at fair value or present value of
the minimum lease payments at the inception of the lease, whichever is lower. Lease payments under
operating leases are charged to profit or loss on a straight-line basis over the period of the lease unless
the payments are structured to increase in line with expected general inflation to compensate for the
lessor's expected inflationary cost increases

4.4 Government Grants

Grants in the nature of capital contribution towards setting up modernization of projects is adjusted from
the cost of the related fixed assets.

4.5 Tax Expensei-

Tax expense is the aggregate amount included in the determination of profit or loss for the period in
respect of current tax and deferred tax

4.6 Current tax

Current tax is measured at the amount expected to be paid/ recovered to/from the taxation authorities.
The tax rates and tax laws used to compute the amount are those that are enacted or substantively
enacted, at the reporting date.

4.7 Provision for income taxes and Deferred Tax

The Company's tax jurisdiction is India. Significant judgements are involved in determining the provision
for income taxes, including amount expected to be paid/recovered for uncertain tax positions. Deferred
tax assets and liabilities are computed on the timing differences at the balance sheet date between the
carrying amount of assets and liabilities and their respective tax bases. Deferred Tax Assets (DTA) is
recognized based on management estimates of virtual certainty that sufficient future taxable income will
be available against which such DTA can be realized. The deferred tax charge or credit is recognized using
the tax rates and tax law that have been enacted or substantively enacted by the balance sheet date.

4.8 Employees Benefits

a. Defined Contribution Plans

Defined contribution plans are benefit plans under which the company pays fixed contribution to state
managed benefit schemes. The company contributions to defined contribution plans are recognized in
the profit and loss account in the financial year to which they relate.

Eligible employees of the Company receive benefits from a provident fund, which is a defined contribution
plan. Both the eligible employee and the Company make monthly contributions to the provident fund
plan equal to a specified percentage of the covered employee's salary. The Company's contribution is
recognized as an expense in the statement of profit and loss during the period in which the employee
renders the related services.

b. Defined Benefits Plans

The Company has Defined Benefit Plan for post-employment benefit in the form of Gratuity for eligible
employees, which is administered through a Group Gratuity Policy with Life Insurance Corporation of
India (L.I.C). The liability for the above Defined Benefit Plan is provided on the basis of actuarial valuation
as carried out L.I.C. The actuarial method used to measure the liability is the Project Unit Credit Method.

An actuarial valuation involves making various assumptions that may differ from actual developments
in the future. These include the determination of the discount rate; future salary increases and mortality
rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation
is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
The parameter most subject to change is the discount rate. In determining the appropriate discount
rate for plans operated in India, the management considers the interest rates of government bonds in
currencies consistent with the currencies of the post-employment benefit obligation.

4.9 Property, Plant and Equipment including intangible Assets:-

a) Freehold Land is stated at Original cost of acquisition. All other items of Property, Plant and Equipment
are shown at cost less accumulated depreciation and impairment, if any. The cost of an item of property,
plant and equipment comprises its cost of acquisition/installation inclusive of Freight, duties and other
non refundable taxes or levies and any cost directly attributable to the acquisition/construction of those
item and all incidental expenses.

When parts of an item of property, plant and equipment have different useful lives, they are accounted for
as separate items (major components) of property, plant and equipment.

Property, plant and equipment under construction are disclosed as capital work-in-progress.

Advances paid towards the acquisition of property, plant and equipment outstanding at each reporting
date are disclosed under ‘Other non-current assets.

b) Subsequent Cost

Subsequent cost are included in the asset's carrying amount or recognised as a separate asset, as
appropriate, only when it is probable that future economic benefits associated with the item will flow
to the Company and the cost of the item can be measured reliably. All other repairs and maintenance
are charged to statement of profit or loss during the reporting period in which they are incurred. Gain or
losses arising on disposal of property, plant and equipment are recognised in profit or loss.

c) Capital Work in Progress

Amount paid towards the acquisition of property, plant and equipment outstanding as of each reporting
date and the cost of property, plant and equipment not ready for intended use before such date are
disclosed under capital work-in-progress. The capital-work-in progress is carried at cost, comprising
direct cost, related incidental cost and attributable interest.

d) Depreciation and amortizationi-

Depreciation has been provided based on useful life assigned to each asset in accordance with Schedule
II of the Companies Act, 2013. The residual values are not more than 5% of the original cost of the asset.
During the year Company has changed the method of providing depreciation on fixed assets excluding
land from WDV to SLM .

e) De-recognition

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when
no future economic benefits are expected from its use or disposal. The gain or loss arising from the de
recognition of an item of property, plant and equipment is measured as the difference between the net
disposal proceeds and the carrying amount of the item and is recognized in the statement of profit and
loss when the item is derecognized

4.10 Investment Properties

Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied
by the Company, is classified as investment property. Investment Property is measured at its cost, including
related transaction costs and where applicable borrowing costs less depreciation and impairment if any.

4.11 Investment and Other Financial Assets

Classification;- The Company classifies its financial assets in the following measurement categories;-

i Those to be measured subsequently at fair value either through other comprehensive income or, through
the Statement of Profit and Loss, and

ii Those measured at amortised cost

The classification depends on the Company's business model for managing the financial assets and the
contractual terms of the cash flows.

4.12 Inventories

Raw materials, stores and spares and packing materialsi-

Raw materials, stores and spares and packing materials are valued at lower of cost and net realizable value.
However, these items are considered to be realizable at cost if the finished products, in which they will be
used, are expected to be sold at or above cost. The cost is calculated on weighted average cost method and
it comprises all costs incurred in bringing the inventories to their present location and condition and includes,
where applicable, appropriate overheads based on normal level of activity. Obsolete, slow moving and defective
inventories are identified at the time of physical verification and wherever necessary a provision is made.

4.13 Finished goods and by products

Finished goods are valued at lower of cost and net realizable value. Cost of inventories of finished goods includes
cost of raw materials, direct and indirect overheads which are incurred to bring the inventories to their present
location and condition. Cost is calculated on FIFO basis in case of raw material and Weighted average in case of
finish goods. Discount and GST does not form part of cost in case of inventory.

By-products are valued at net realizable value.

Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of
completion and the estimated costs necessary to make the sale.

4.14 Cash and Cash equivalents;-

Cash and cash equivalents in the balance sheet comprise Cash in hand and Cheques in hand While Other Bank
Balances comprises Bank Balances Current and short-term deposits with an original maturity of three Months
or less and bank overdraft that are repayable on demand, which are subject to an insignificant risk of changes in
value.

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash in hand,
and Cheque in Hand.

Foreign Exchange Transactions

At the year end all monetary assets and liabilities denominated in foreign currency are restated at the closing
exchange rates. Exchange differences arising out of actual payments/realizations and from the year end
restatement referred to above are dealt within the Profit & Loss Account.

Forward contracts other than those entered into to hedge foreign currency risk on unexecuted firm commitment
or highly probable forecast transactions are treated as foreign currency transactions and accounted accordingly.
Premium on foreign exchange forward contracts are recognized in the profit and loss account over the life of
contract. Any profit and loss arising on cancellation of forward contract is recognized as income or expense in
the period in which they arise

4.15 Researches and Development

Revenue Expenditure on Research & Development is charged as an expense in the year in which it is incurred.
Capital expenditure is included in respective heads under fixed assets.