| 1.1 Accounting Concepts:
The Company maintains its accounts on accrual basis following the
historical cost convention in accordance with generally accepted
accounting principles ("GAAP"), and in compliance with the Accounting
Standards referred to in section 211 (3C) and other requirements of the
Companies Act, 2013
The preparation of financial statements in conformity with Indian GAAP
requires that the management of the Company makes estimates and
assumptions that affect the reported amounts of income and expenses of
the period, the reported balances of assets and liabilities and the
disclosures relating to contingent liabilities as of the date of the
financial statements. Examples of such estimates include the useful
lives of fixed assets etc. Actual results could differ from these
estimates.
1.2 Fixed Assets :-
Fixed Assets are stated at cost less accumulated depreciation. Cost
includes all identifiable expenditure to bring the assets to its
present location and condition
1.3 Inventories:-
Inventories are valued at cost or net realizable value, whichever is
lower.
1.4 Depreciation:-
Depreciation on Fixed Assets has been provided at Straight Line Method
and at the rates prescribed in schedule XIV of the companies Act, 2013.
1.5 Revenue Recognition :-
Revenue on sale of products is recognized when the products are
dispatched to customers,
1.6 Expenses Recognition:-
Expenses are charged to revenue on accrual basis.
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