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NORBEN TEA & EXPORTS LTD.

10 July 2025 | 12:00

Industry >> Tea & Coffee

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ISIN No INE369C01017 BSE Code / NSE Code 519528 / NORBTEAEXP Book Value (Rs.) 11.69 Face Value 10.00
Bookclosure 30/12/2024 52Week High 52 EPS 0.00 P/E 0.00
Market Cap. 47.30 Cr. 52Week Low 12 P/BV / Div Yield (%) 3.03 / 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 

1. CORPORATE INFORMATION

Norben Tea & Exports Limited ("the Company") is an entity incorporated in India having CIN No. L01132WB1990PLC048991. The registered address of the company is 15 B, Hemanta Basu Sarani, Kolkata - 700 001. Udyam registration number under Ministry of Micro, Small and Medium Enterprises (MSME) is UDYAM-WB-10-0008831. The principal business of the company is growing and manufacturing of tea. As per Section 148 of the Companies Act, 2013 read with Companies (Cost records and Audit) Rules, 2014, the company is not required to maintain cost records.

2. BASIS OF PREPARATION OF FINANCIAL STATEMENTS AND PRESENTATION

The financial statements of the company have been prepared in accordance with the Indjan Accounting Standards (ind AS) as per the Companies (Indian Accounting Standards) Rules, 2015 notified under Section 133 of the Companies Act, 2013 ("the Act") and other relevant provisions of the Act.

Company's financial statements are presented in Indian Rupees, which is also its functional currency.

The standalone Ind AS financial statements have been prepared on historical cost basis except the following items:

a) Financial Assets - Current Investments in Shares - Valued at book value instead of market price.

b) Deferred Tax Assets/Liabilities - Valued at fair value on Balance Sheet approach.

c) Current Investments are carried in the books at purchase value.

3. SIGNIFICANT ACCOUNTING POLICIES

3.1. Measurement of Fair Values

The company has financial assets: a) Investment in Quoted Shares, b) Loans & Advances, c) Trade Receivables - at fair value, Financial Liabilities - Trade Payables at fair value. Impact of fair value changes, if any as on the date of transition, is recognised in the opening reserves and changes thereafter are recognised in the Statement of Profit & Loss during the period.

3.2. Cash Flow Statement and Cash & Cash Equivalents

Cash Flow Statements are reported using indirect method, where profit 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 available information.

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances, highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk or changes in

value.

3.3. Borrowings

Borrowing Cost consists of interest and other costs incurred in connection with the borrowing of funds.

The borrowings from bank, body corporates have been utilised for the purpose for which they have been availed i,e creation of fixed assets/net working capital means. Borrowing costs that are directly attributable to the acquisition or production of qualifying assets are capitalised as the cost of the respective assets. Other borrowing costs are charged to the Statement of Profit and Loss in the year in which they are incurred

3.4. Property. Plant & Equipment and Depreciation

Property, Plant and Equipment, i.e. Tangible Fixed Assets are stated at cost less allowable net recoverable taxes, trade discounts and rebates less accumulated depreciation and impairment losses, if any. Such cost includes purchase price, overheads directly, attributable to bringing the assets to working condition for its

intended use'

Depreciation on such tangible assets have been provided on straight line method

as per the useful life estimated by the management. The management estimates the useful lives of the fixed assets as follows: _

SERIAL

NUMBER

DESCRIPTION OF ASSETS

USEFUL LIFE (In Years!

1.

Non - Factory Buildings & Bridges

60

2.

Machinery1, Electric Installations and Factory Buildings

30

3.

Furniture & Fittings1, Laboratory & Other Equipment1 &Tubewell

20

4.

Motor Vehicles

15

5.

Computer1

6

6.

Office Equipments

5

6.

Bearer Plants1

70 _

recognised. An impairment loss is charged to the Depreciation Schedule and Statement of Profit & Loss in the year in which the asset is identified as impaired.

3.6. Deferred Tax Assets/Liabilities and Provision for Deferred Tax

Deferred Tax Assets/Liabilities valued on Balance Sheet approach on availability of future taxable profit against which tax losses and tax benefit carried forward can be used. Provision for deferred tax recognised on timing differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods enacted as at the reporting date.

3.7. Inventories

Items of inventories are measured as per "Valuation of Inventories" guidelines issued by the Institute of Chartered Accountants of India and Institute of Cost Accountants of India. The details are as follows:

a) Stock of Raw Materials, Stock of Spares & consumables are valued at Cost on FIFO (First in First Out) basis (excluding the amount of Cenvat/ITC of Excise/Custom/Service Tax/GST/State Tax Allowable).

b) Stock of Finished Goods are valued at lower of Cost (excluding the amount of GST/ credit allowable) or net realizable value.

c) There is no deviation in method of valuation of stock as prescribed under section 142A of the Income Tax Act, 1961. The financial statements are presented as per Accounting Standards under IND AS.

3.8. Financial Assets and Financial Liabilities

Financial Assets and Liabilities are valued at fair market value. The details are as below:

1. Investments are valued at book value. Unrealised Loss and their deferred tax assets/liabilities are not provided in the Statement of Profit & Loss as per Ind AS method of presentation as the management is of the opinion that the unrealised loss is not permanent in nature and that the investment is strategic in nature.

2. Trade Payables and Trade Receivables are valued at fair market value.

3.9. Provisions and Contingencies

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event. It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on best estimates required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

3.10. Revenue Recognition

Revenue from sale of goods is recognised when the significant risks and rewards of ownership have been transferred to the buyer, recovery of the consideration is probable, the associated cost can be estimated reliably, there is no continuing effective control or managerial involvement with the goods, and the amount of revenue can be measured reliably.

Revenue from operations is measured at the fair value of the consideration received or receivable, taking into account defined terms of payment and excluding taxes or duties collected on behalf of the government.

Other Income & Expenditure

a) Investment Income on actual transaction are recognized on actual basis.

b) Interest Income are recognized on accrual basis.

c) Other Expenses (other than Borrowing Cost and Employee benefit expenses, which are shown separately) are recognized on accrual basis.

3.11. Finance Cost

Finance Cost includes interest, amortization and other ancillary cost incurred in regard to borrowings. All borrowing costs are charged to the Statement of Profit & Loss for the period for which they are incurred.

3.12. Employee Benefit Cost

Short Term Employee Benefits

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by employees are recognised as an expense during the period when the employees render the services Lone Term Employee Benefits

The Company's contribution to provident fund are considered as defined contribution plans and the charges as an expense as they fall due based on the amount of contribution required to be made. The Company makes regular contribution to Recognised Provident Fund which are fully funded and administered by the Central Government.

3.13. GST Input Credit:

Goods and Services Tax payment elements on purchase/reverse charge/services received, whichever applied, covered and allowable as IGST/SGST/CGST credit are accounted for in the books in the period in which the underlying service is received and accounted.

3.14. Taxes on Income

The provision for current income tax is the amount of tax payable on taxable income for the year as determined in accordance with the current provisions of Income Tax Act, 1961. Provision for deferred tax assets/liabilities is charged to Statement of Profit and Loss, measured on differences of Valuation of Deferred Tax Assets/Liabilities from one Balance Sheet date to the next Balance Sheet date.

3.15. Earnings Per Share

The basic earnings per share is computed by dividing the Net Profit/{Loss) after Tax including Other Comprehensive Income, i.e. Total Comprehensive Income, by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the Net Profit/(Loss) aftertax including other comprehensive income , i.e. Total Comprehensive Income as adjusted for dividend, interest and other charges to expense or income relating to dilutive potential equity shares, by weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on conversion of all dilutive potential equity shares.

3.16. Segment Reporting

The company has only one primary business segment, i.e. manufacturing of tea. Operating Cvtfe

Based on the nature of products/activities of the Company and the normal time between acquisition of assets and their realization in cash or cash equivalents, the Company has determined its operating cycle as 12 months for the purpose of classification of its assets and liabilities as current and non-current.

4. USE OF ESTIMATES AND JUDGMENTS

In preparation of these Standalone Ind AS Financial Statements, the management has made judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized prospectively.

1

For this class of assets, based on internal assessment and independent technical evaluation carried out by external valuers, the management believes that the useful lives as given above best represent the period over which management expects to use these assets.

Hence the useful lives for the assets are different from the useful lives as prescribed under Part C of the schedule of the Companies Act, 2013. Freehold and Leasehold land are not depreciated.

Ý ' ^/

3.5. Impairment of Assets

The carrying amount of the property, plant & equipment, i.e. Tangible Fixed Assets are reviewed at each balance sheet date. If any indication of impairment exists, the recoverable amount of such assets is estimated and impairment is