Accounting Policies of Standard Batteries Ltd. Company

Mar 31, 2025

Company Overview

The Standard Batteries Limited is a Company limited by shares, incorporated and domiciled in India. Its shares are listed on Bombay Stock Exchange Limited (BSE Ltd.) in India. The registered office of the Company is located at Rustom Court, Opposite Podar Hospital, Dr Annie Besent Road, Worli, Mumbai, Maharashtra - 400 030, India. The Company was principally engaged in the business of dealing in steel and metals. However, there were no significant business operations during the year.

The financial statements for the year ended 31st March, 2025 have been approved by the Board of Directors of the Company in their meeting held on 30th May, 2025.

1. Material Accounting Policies

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

1.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 ("the Act") read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 as amended. The Financial Statements have also been prepared in accordance with the relevant presentation requirements of the Companies Act, 2013.

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.

These Financial Statements are prepared in Indian Rupees (INR) which is also the Company''s functional currency and all the values are rounded off to the nearest thousands/ lakhs (upto two decimals) except when otherwise stated.

The Company has prepared the financial statements on the basis that it will continue to operate as a going concern.

1.2. Use of Estimates

The preparation of Financial Statements in conformity with Ind AS requires management to make judgements, estimates and assumptions that affect the application of the accounting policies and the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period; they are recognised in the period of the revision and future periods if the revision affects both current and future periods.

1.3. Classification of Current and Non-Current

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification specified in Schedule III to the Companies Act, 2013. An asset is treated as current when it is:

♦ Expected to be realised or intended to be sold or consumed in normal operating cycle

♦ Held primarily for the purpose of trading

♦ Expected to be realised within twelve months after the reporting period, or

♦ Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

♦ All other assets are classified as non-current.

♦ A liability is current when:

♦ It is expected to be settled in normal operating cycle

♦ It is held primarily for the purpose of trading

It is due to be settled within twelve months after the reporting period or there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

The Co mp any classifies all other liabilities as noncurrent.

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash equivalents. The company has identified twelve months as its -operating cycle.

1.4. Historical Cost Convention

The Financial Statements are prepared in accordance with the historical cost convention, except for investments that are measured at fair value, as explained in the accounting policies.

Fair Value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date.

1.5. Property, Plant and Equipment

Property, Plant and Equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs directly attributable to acquisition are capitalized until the Property, Plant and Equipment are ready for use as intended by management.

Depreciation methods, estimated useful lives and residual value

Depreciation is provided on written down value basis to allocate the cost of assets, net of their residual values, over their estimated useful lives. Depreciation is calculated on a pro-rata basis from the date of acquisition/installation till the date the assets are sold or disposed of:

Asset category	Estimated useful life
Computers	5 years
Vehicle	8 years
Office Equipment	5 years
Furniture & Fixtures	10 years

The residual values are not more than 5% of the original cost of the asset. The residual values, useful lives and method of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate. The carrying amount of an asset is written down immediately to its recoverable amount if the carrying amount of the asset is greater than its estimated recoverable amount. Asset costing Rs. 5,000/- or less are depreciated fully in the year of acquisition.

1.6. Impairment of Assets

The carrying amount of assets are reviewed at each Balance Sheet date to assess if there is any indication of impairment based on internal/ external factors. An impairment loss on such assessment will be recognised whenever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount of the assets is net selling price or value in use, whichever is higher. While assessing value in use, the estimated future cash flows are discounted to the present value by using weighted average cost of capital. A previously recognised impairment loss is further provided or reversed depending on changes in the circumstances and to the extent that carrying amount of the assets does not exceed the carrying amount that will be determined if no impairment loss had previously been recognised.

1.7. Cash and cash Equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and shortterm deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

1.8. Provisions, Contingent liabilities and Contingent Assets

Provisions are recognized 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. These are reviewed at each year end and reflect the best current estimate.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent liabilities are not provided for and are disclosed by way of notes.

A contingent asset is not recognised but disclosed in the financial statements where an inflow of economic benefit is probable.

Provisions, contingent liabilities and commitments are reviewed at each Balance Sheet date.

1.9. Fair Value Measurement

The Company measures financial instruments such as investments at fair value at each Balance Sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

♦ In the principal market for the asset or liability, or

♦ In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-finandal asset takes into account a market participant''s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which

sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

1.10. Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. a) Financials Assets

Initial recognition and measurement

All Financial Assets are initially recognized at transaction price when the Company becomes party to contractual obligations. The transaction price includes transaction costs unless the asset is being fair valued through the Statement of Profit and Loss.

Subsequent measurement

Management determines the classification of an asset at initial recognition depending on the purpose for which the assets were acquired. The subsequent measurement of financial assets depends on such classification.

Financial Assets are classified as those measured at:

a) Amortised cost,

b) At fair value through Other Comprehensive Income (FVTOCI),

c) At fair value through Profit or Loss (FVTPL) Financial Assets at Amortized Cost

A ''Financial Asset'' is measured at the amortized cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold asset for collecting contractual cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortized cost using the effective interest rate (EIR) method. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the

Statement of Profit and Loss.

Financial Assets at fair value through Other Comprehensive Income

Financial assets are measured at fair value through other comprehensive income if these financial assets are held both for collection of contractual cash flows and for selling the financial assets, and contractual terms of the financial asset give rise to cash flows representing solely payments of principal and interest.

Financial Assets at fair value through Profit or Loss

FVTPL is a residual category for Financial Assets. Any Financial Assets, which does not meet the criteria for categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.

In addition, the Company may elect to designate a Financial Asset, which otherwise meets amortized cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ''accounting mismatch'').

The classification depends the business model of the entity for managing financial assets and the contractual terms of the cash flows.

Equity Instruments

All equity investments in scope of Ind AS 109 are measured at fair value. The Management of the Company has elected to present fair value gains and losses on such equity investments through Profit or Loss.

Changes in the fair value of financial assets at fair value through profit or loss are recognized in the Statement of Profit and Loss.

De-recognition of Financial Assets

A Financial Asset (or, where applicable, a part of financial asset or part of a group of similar financial assets) is primarily derecognized when:

♦ The rights to receie cash flows from the asset have expired, or

♦ The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received

cash flows in full without material delay to a third party under a ''pass-through'' arrangement; and either

(a) the Company has transferred substantially all the risks and rewards of the asset, or

(b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

Impairment of Financial Assets

The Company assesses at each reporting date whether a financial asset (or a group of financial assets) such as investments, trade receivables, advances and security deposits held at amortised cost and financial assets that are measured at fair value through other comprehensive income are tested for impairment based on evidence or information that is available without undue cost or effort. Expected credit losses are assessed and loss allowances recognised if the credit quality of the financial asset has deteriorated significantly since initial recognition.

Reclassification of Financial assets

The Company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no reclassification of financial assets like equity instruments and financial liabilities is made. For financial assets which are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets. Changes to the business model are expected to be infrequent. The Company''s senior management determines change in the business model as a result of external or internal changes which are significant to the Company''s operations. Such changes are evident to external parties. A change in the business model occurs when the Company either begins or ceases to perform an activity that is significant to its operations. If the Company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following the change in business model. The Company does not restate any previously recognised gains, losses (including impairment gains or losses) or interest.

The following table shows various reclassification and how they are accounted for:
Original classification	Revised classification	Accounting treatment
Amortised cost	FVTPL	Fair value is measured at reclassification date. Difference between previous amortized cost and fair value is recognised as profit or loss.
FVTPL	Amortised Cost	Fair value at reclassification date becomes its new gross carrying amount. EIR is calculated based on the new gross carrying amount.
Amortised cost	FVTOCI	Fair value is measured at reclassification date. Difference between previous amortised cost and fair value is recognised in OCI. No change in EIR due to reclassification.
FVTOCI	Amortised cost	Fair value at reclassification date becomes its new amortised cost carrying amount. However, cumulative gain or loss in OCI is adjusted against fair value. Consequently, the asset is measured as if it had always been measured at amortised cost.
FVTPL	FVTOCI	Fair value at reclassification date becomes its new carrying amount. No other adjustment is required.
FVTOCI	FVTPL	Assets continue to be measured at fair value. Cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss on the reclassification date

b) Financial Liabilities

Initial recognition and measurements

All financial liabilities are initially recognised at fair value of the respective contractual obligations.

Subsequent Measurement

Financial liabilities are subsequently measured at amortised cost. Any discount or premium on redemption /settlement is recognised in the Statement of Profit and Loss as finance cost over the life of the liability using the effective interest method and adjusted to the liability figure disclosed in the Balance Sheet.

De-recognition of Financial Liabilities

Financial liabilities are derecognised when the liability is extinguished, that is, when the contractual obligation is discharged, cancelled and on expiry. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such

an exchange or modification is treated as the recognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the Statement of Profit & Loss.

1.11. Trade and Other Payables:

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid. The amounts are unsecured and usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period.

1.12. Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

Interest income

Interest income is accounted on accrual basis at the contractual rates.

1.13. Income Tax Current Tax

The current tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting year. The Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred Tax

Deferred tax is provided using the Balance Sheet approach, which focuses on temporary differences between the carrying amount of an asset or liability in the Balance Sheet and its tax base. The tax effect is calculated on the accumulated timing differences at the end of an accounting year based on prevailing enacted or substantially enacted regulations. Deferred tax assets are recognized only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each Balance Sheet date.

1.14. Employee benefits Short-term Employee Benefits:

All employee benefits payable within 12 months of service such as salaries, wages, bonus, ex-gratia, medical benefits etc. are recognised in the year in which the employees render the related service and are presented as current employee benefit obligations within the Balance Sheet. Termination benefits are recognised as an expense as and when incurred.

Short-term leave encashment is provided at undiscounted amount during the accounting period based on service rendered by employees. Any excess or short provision in respect of the same is recognized in the Statement of Profit and Loss in the subsequent years.

Defined Contribution Plan

Retirement benefit in the form of contribution to fund is defined contribution plan. The Company provides specific percentage of the payroll costs as contribution payable to the fund and the same is considered as expense. The Company does not have employees exceeding 20. Hence, the provisions of Employees Provident Fund and Miscellaneous Provision Act, 1952 and Employees State Insurance Act, 1948 are not applicable.

Defined Benefit Plan

The Company does not have employees exceeding 10. Hence, the provisions of Gratuity Act, 1972 are not applicable.

1.15. Earnings Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to Equity Shareholders by the weighted average number of Equity Shares outstanding during the period. Earnings considered in ascertaining the EPS is the net profit for the period and any attributable tax thereto for the period.

Diluted earnings per share adjusts the figures used in determination of basic earnings per share to take into account the conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed converted as at the beginning of the period unless issued at a later date.

1.16. Rounding off Amounts

All amounts disclosed in the Financial Statements and notes have been rounded off to the nearest lakhs as per the requirement of Schedule III to the Companies Act, 2013, unless otherwise stated.

1.17. Recent Ind AS pronouncements

The Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time.

During the year ended March 31, 2025, MCA has notified Ind AS 117 - Insurance Contracts and amendments to Ind As 116 - Leases, relating to sale and lease back transactions, applicable from April 1, 2024.

The amendments have no impact on the company''s financial statements.

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Mar 31, 2024

1. Material Accounting Policies

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

1.1. Basis of Preparation of Financial Statements

These financial statements have been prepared
in accordance with Indian Accounting Standards
(Ind AS) notified under Section 133 of the
Companies Act, 2013 ("the Act") read with Rule
3 of the Companies (Indian Accounting
Standards) Rules, 2015 as amended. The
Financial Statements have also been prepared in
accordance with the relevant presentation
requirements of the Companies Act, 2013.

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.

These Financial Statements are prepared in
Indian Rupees (INR) which is also the Company''s
functional currency and all the values are
rounded off to the nearest thousands/ lakhs (upto
two decimals) except when otherwise stated.

The Company has prepared the financial
statements on the basis that it will continue to
operate as a going concern.

1.2. Use of Estimates

The preparation of Financial Statements in
conformity with Ind AS requires management to
make judgements, estimates and assumptions
that affect the application of the accounting
policies and the reported amounts of assets and
liabilities, the disclosure of contingent assets and
liabilities at the date of the financial statements,
and the reported amounts of revenues and
expenses during the year. Actual results could
differ from those estimates. The estimates and
underlying assumptions are reviewed on an
ongoing basis. Revisions to accounting estimates
are recognised in the period in which the
estimate is revised if the revision affects only that
period; they are recognised in the period of the
revision and future periods if the revision affects
both current and future periods.

1.3. Classification of Current and Non-Current

The Company presents assets and liabilities in
the balance sheet based on current/ non-current
classification specified in Schedule III to the
Companies Act, 2013. An asset is treated as
current when it is:

♦ Expected to be realised or intended to be sold or
consumed in normal operating cycle

♦ Held primarily for the purpose of trading

♦ Expected to be realised within twelve months
after the reporting period, or

♦ Cash or cash equivalent unless restricted from
being exchanged or used to settle a liability for at
least twelve months after the reporting period

♦ All other assets are classified as non-current.

♦ A liability is current when:

♦ It is expected to be settled in normal operating
cycle

♦ It is held primarily for the purpose of trading

It is due to be settled within twelve months after
the reporting period or there is no unconditional
right to defer the settlement of the liability for at
least twelve months after the reporting period

The Company classifies all other liabilities as
non-current.

The operating cycle is the time between the
acquisition of assets for processing and their
realisation in cash and cash equivalents. The
company has identified twelve months as its -
operating cycle.

1.4. Historical Cost Convention

The Financial Statements are prepared in
accordance with the historical cost convention,
except for certain items that are measured at fair
values, as explained in the accounting policies.

Fair Value is the price that would be received to
sell an asset or paid to transfer a liability in an
orderly transaction between market participants
at the measurement date, regardless of whether
that price is directly observable or estimated
using another valuation technique. In estimating
the fair value of an asset or a liability, the
Company takes into account the characteristics
of the asset or liability if market participants
would take those characteristics into account
when pricing the asset or liability at the
measurement date.

1.5. Property, Plant and Equipment

Property, Plant and Equipment are stated at cost,
less accumulated depreciation and impairment,
if any. Costs directly attributable to acquisition
are capitalized until the Property, Plant and
Equipment are ready for use as intended by
management.

Depreciation methods, estimated useful lives
and residual value

Depreciation is provided on written down value
basis to allocate the cost of assets, net of their
residual values, over their estimated useful lives.
Depreciation is calculated on a pro-rata basis
from the date of acquisition/installation till the
date the assets are sold or disposed of:

The residual values are not more than 5% of the
original cost of the asset. The residual values,
useful lives and method of depreciation of
property, plant and equipment are reviewed at
each financial year end and adjusted
prospectively, if appropriate. The carrying
amount of an asset is written down immediately
to its recoverable amount if the carrying amount
of the asset is greater than its estimated
recoverable amount. Asset costing Rs. 5,000/- or
less are depreciated fully in the year of
acquisition.

1.6. Impairment of Assets

The carrying amount of assets are reviewed at
each Balance Sheet date to assess if there is any
indication of impairment based on internal/
external factors. An impairment loss on such
assessment will be recognised whenever the
carrying amount of an asset exceeds its
recoverable amount. The recoverable amount of
the assets is net selling price or value in use,
whichever is higher. While assessing value in
use, the estimated future cash flows are
discounted to the present value by using
weighted average cost of capital. A previously
recognised impairment loss is further provided
or reversed depending on changes in the
circumstances and to the extent that carrying
amount of the assets does not exceed the carrying
amount that will be determined if no impairment
loss had previously been recognised.

1.7. Cash and cash Equivalents

Cash and cash equivalents in the balance sheet
comprise cash at banks and on hand and short¬
term deposits with an original maturity of three
months or less, which are subject to an
insignificant risk of changes in value.

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Mar 31, 2015

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Generally Accepted Accounting Principles (IGAAP) under the historical cost convention as a going concern and on accrual basis and in accordance with the provisions of the Companies Act, 2013 and the Accounting Standards specified under Section 133 of the Companies Act, 2013 ("the Act") read with rule 7 of the Companies (Accounts) Rules 2014 (as amended).

All assets & liabilities have been classified as current & non - current as per the Company's normal operating cycle and other criteria set out in the Schedule III of the Companies Act, 2013. Based on the nature of activities undertaken by the Company and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current - non- current classification of assets & liabilities.

b) USE OF ESTIMATES

The preparation of Financial Statement requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including contingent liabilities) as on the date of financial statements and the reported income and expenses during the reporting period. The management believes that the estimates used in the preparation of the financial statement are prudent and reasonable. Any revision to accounting estimates is recognized prospectively in current and future periods.

c) FIXED ASSETS

Fixed assets are stated at historical cost less accumulated depreciation and impairment losses. Cost includes purchase / acquisition cost and incidental cost incurred to bring the assets to their location and working condition.

Carrying amount of cash generating units/assets is reviewed at Balance Sheet date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount is estimated at net selling price or value in use whichever is higher. Impairment loss, if any, is recognized whenever the carrying amount exceeds recoverable amount.

d) INVESTMENTS:-

Long-term investments are stated at cost less provision for permanent diminution in value of such investments, if any.

e) REVENUE RECOGNITION:-

i) Sales are recognized on transfer of significant risks and rewards to the customer.

ii) Insurance, sales tax refund and other claims are accrued when there is reasonable certainty of their realization.

iii) Interest income is accounted on accrual basis at the contractual rate.

f) DEPRECIATION:-

Depreciation on computers is provided on straight line basis and for other assets, on the written down value basis in accordance with their useful lives and in the manner prescribed in Schedule II to the Companies Act, 2013. Assets costing Rs. 5,000 or less are depreciated fully in the year of acquisition.

g) RETIREMENT BENEFITS:

Defined contribution plans:

The Company makes superannuation contribution to specific contribution plan for qualifying employees. Under the scheme the Company is required to contribute specific percentage of the payroll costs to fund the benefits.

Defined benefit plans:

The Company makes contribution towards annuity plan at contractually specified percentage of the salary annually.

h) EARNINGS PER SHARE:-

The Company reports basic and diluted Earnings Per Share (EPS) in accordance with Accounting Standard 20 on "Earnings Per Share".

Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year.

i) TAXATION:-

Income taxes are accounted for in accordance with Accounting Standard 22 on "Accounting for Taxes on Income". Tax expense comprises of current tax and deferred tax.

Current tax is measured at the amount expected to be paid to the tax authorities using the applicable tax rates and tax laws. Deferred tax assets and deferred tax liabilities are recognized for future tax consequences attributable to the timing differences between taxable incomes and accounting income that are capable of reversal in one or more subsequent period and are measured using tax rates enacted or substantially enacted as at the Balance Sheet date. Deferred tax Assets arising from timing difference are recognized unless in the management judgment, only to the extent there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised. The carrying amount of deferred tax asset is revised at each Balance Sheet date.

j) ACCOUNTING FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS:-

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2014

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

These accounts have been prepared under historical cost convention on accrual basis of accounting and to comply in all the material aspects with (a) applicable accounting principles in India; (b) the Accounting Standards issued by the Institute of Chartered Accountants of India; and (c) relevant provisions of the Companies Act, 1956

All assets & liabilities have been classified as current & non - current as per the Company''s normal operating cycle and other criteria set out in the Schedule VI of the Companies Act, 1956, Based on the nature of activities undertaken by the Company and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current - non- current classification of assets & liabilities,

b) USE OF ESTIMATES:

The preparation of Financial Statement requires the Management to make estimates and assumptions considered in the reported amount of assets and liabilities (including contingent liabilities) as on the date of financial statements and the reported income and expenses during the reporting period, The Management believes that the estimates used in the preparation of the financial statement are prudent and reasonable, Any revision to accounting estimates is recognized prospectively in current and future periods,

c) FIXED ASSETS:

Fixed assets are stated at historical cost less accumulated depreciation and impairment losses, Cost includes purchase / acquisition cost and incidental cost incurred to bring the assets to their location and working condition,

Carrying amount of cash generating units/assets is reviewed at Balance Sheet date to determine whether there is any indication of impairment, If such indication exists, the recoverable amount is estimated at net selling price or value in use whichever is higher, Impairment loss, if any, is recognized whenever the carrying amount exceeds recoverable amount,

d) INVESTMENTS:

Long-term investments are stated at cost less provision for permanent diminution in value of such investments, if any

e) REVENUE RECOGNITION:

i) Sales are recognized on transfer of significant risks and rewards to the customer,

ii) Insurance, Sales Tax refund and other claims are accrued when there is reasonable certainty of their realization,

iii) Interest income is accounted on accrual basis at the contractual rate,

f) DEPRECIATION:

Depreciation on computers is charged on straight line basis and for other assets, on the written down value basis at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956, Assets costing Rs, 5,000 or less are depreciated fully in the year of acquisition,

g) RETIREMENT BENEFITS: Defined contribution plans

The Company makes superannuation contribution to specific contribution plan for qualifying employees, Under the Scheme the Company is required to contribute a specified percentage of the payroll costs to fund the benefits,

Defined benefit plans

Company''s liability towards long term compensated absences is determined by the independent actuaries, using projected unit credit method, The Company makes contribution towards annuity plan at contractually specified percentage of the salary annually

h) EARNING PER SHARE:

The Company reports basic and diluted Earnings Per Share (EPS) in accordance with Accounting Standard 20 on "Earning Per Share",

Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year

i) TAXATION:

Income taxes are accounted for in accordance with Accounting Standard 22 on "Accounting for Taxes on Income", Tax expenses comprise of current tax and deferred tax,

Current tax is measured at the amount expected to be paid to the tax authorities using the applicable tax rates and tax laws,

Deferred tax assets and deferred tax liabilities are recognized for future tax consequences attributable to the timing differences between taxable incomes and accounting income that are capable of reversal in one or more subsequent period and are measured using tax rates enacted or substantially enacted as at the Balance Sheet date, Deferred tax Assets arising from timing difference are recognized unless in the management judgment, only to the extent there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realized, The carrying amount of deferred tax asset is revised at each Balance Sheet date,

j) ACCOUNTING FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation, A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources, Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made, Contingent Assets are neither recognized nor disclosed in the financial statements,

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Mar 31, 2013

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

These accounts have been prepared under historical cost convention on accrual basis ot accounting and to comply in all the material aspects with (a) applicable accounting principles in India; (b) the Accounting Standards issued by the Institute of Chartered Accountants of India; and (c) relevant provisions of the Companies Act, 1956.

b) USE OF ESTIMATES:

The preparation of Financial Statement reauires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including Contingent liabilities) as on the date of financial statements and the reported income and expenses during the reporting period. Management believes that the estimates used in the preparation of the financial statement are prudent and reasonable. Any revision to accounting estimates is recognized prospectively in current and future periods.

c) FIXED ASSETS:

Fixed assets are stated at historical cost less accumulated depreciation and impairment losses. Cost includes purchase / acquisition cost and incidental cost incurred to bring the assets to their location and working condition.

Carrying amount of cash generating units/assets is reviewed at Balance Sheet date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount is estimated at net selling price or value in use whichever is higher. Impairment loss, if any, is recognized whenever the carrying amount exceeas recoverable amount.

d) INVESTMENTS:

Long-term investments are stated at cost less provision for permanent diminution in value of such investments, if any.

e) REVENUE RECOGNITION:

i) Sales are recognized on transfer of significant risks and rewards to the customer.

ii) Insurance, sales tax refuna and other claims are accrued when there is reasonable certainty of then leuiizntion.

f) DEPRECIATION:

Depreciation on computers is charged on straight line basis and for other assets, on the written down value basis at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956. Assets costing Rs, 5,000 or less are depreciated fully in the year of acquisition.

g) RETIREMENT BENEFITS: Defined contribution plans:

The Company makes superannuation contribution to specific contribution plan for qualifying employees. Under the scheme the Company is reauired to contribute a specified percentage of the payroll costs to fund the benefits.

Defined benefit plans:

Company''s liability towards long term compensated absences is determined by the independent actuaries, using the projected unit credit method. The Company makes contribution towards annuity plan at the contractually specified percentage of the salary annually. Refer Note No. 1.8.

h) EARNING PER SHARE:

The Company reports basic and diluted Earnings Per Share (EPS) in accordance with Accounting Standard 20 on "Earning Per Share".

Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year.

i) TAXATION:

Income taxes are accounted for in accordance with Accounting Standard 22 on "Accounting for Taxes on Income". Tax expenses comprise of current tax and deferred tax.

Current tax is measured at the amount expected to be paid to the tax authorities using the applicable tax rates and tax laws.

Deferred tax assets and deferred tax liabilities are recognized for future tax consequences attributable to the timing differences between taxable incomes and accounting income that are capable of reversal in one or more subsequent period and are measured using tax rates enacted or substantially enacted as at the Balance Sheet date. Deferred tax Assets arising from timing difference are recognized unless in the management judgment, only to the extent there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realized. The carrying amount of deferred tax asset is revised at each Balance Sheet date.

j) ACCOUNTING FOR PROVISIONS AND CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2012

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

These accounts have been prepared under historical cost convention on accrual basis of accounting and to comply in all the material aspects with (a) applicable accounting principles in India; (b) the Accounting Standards issued by the Institute of Chartered Accountants of India; and (c) relevant provisions of the Companies Act, 1956.

b) USE OF ESTIMATES:

The preparation of Financial Statement requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including Contingent liabilities) as on the date of financial statements and the reported income and expenses during the reporting period. Management believes that the estimates used in the preparation of the financial statement are prudent and reasonable. Any revision to accounting estimates is recognized prospectively in current and future periods.

C) FIXED ASSETS:

Fixed assets are stated at historical cost less accumulated depreciation and impairment losses. Cost includes purchase / acquisition cost and incidental cost incurred to bring the assets to their location and working condition.

Carrying amount of cash generating units/assets is reviewed at Balance Sheet date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount is estimated at net selling price or value in use whichever is higher. Impairment loss, if any, is recognized whenever the carrying amount exceeds recoverable amount.

d) INVESTMENTS:

Long-term investments are stated at cost less provision for permanent diminution in value of such investments, if any.

e) REVENUE RECOGNITION:

i) Sales are recognized on transfer of significant risks and rewards to the customer.

ii) Insurance, sales tax refund and other claims are accrued when there is reasonable certainty of their realization.

f) DEPRECIATION:

Depreciation on computers is charged on straight line basis and for other assets, on the written down value basis at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956. Assets costing Rs. 5,000 or less are depreciated fully in the year of acquisition.

g) RETIREMENT BENEFITS:

Defined contribution plans:

The Company makes superannuation contribution to specific contribution plan for qualifying employees. Under the scheme the Company is required to contribute a specified percentage of the payroll costs to fund the benefits.

Defined benefit plans:

Company's liability towards long term compensated absences is determined by the independent actuaries, using the projected unit credit method. The Company makes contribution towards annuity plan at the contractually specified percentage of the salary annually. Refer Note No.l .9.

h) EARNING PER SHARE:

The Company reports basic and diluted Earnings Per Share (EPS) in accordance with Accounting Standard 20 on "Earning Per Share".

Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year.

i) TAXATION:

Income taxes are accounted for in accordance with Accounting Standard 22 on "Accounting for Taxes on Income". Tax expenses comprise of current tax and deferred tax.

Current tax is measured at the amount expected to be paid to the tax authorities using the applicable tax rates and tax laws.

Deferred tax assets and deferred tax liabilities are recognized for future tax consequences attributable to the timing differences between taxable incomes and accounting income that are capable of reversal in one or more subsequent period and are measured using tax rates enacted or substantially enacted as at the Balance Sheet date. Deferred tax Assets arising from timing difference are recognized unless in the management judgment, only to the extent there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realized. The carrying amount of deferred tax asset is revised at each Balance Sheet date. '

j) ACCOUNTING FOR PROVISIONS AND CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2011

A) Accounting Convention:

These accounts have been prepared under historical cost convention on accrual basis of accounting and to comply in all the material aspects with (a) applicable accounting principles in India; (b) the Accounting Standards issued by the Institute of Chartered Accountants of India; and (c) relevant provisions of the Companies Act, 1956.

b) Use of Estimates:

The preparation of Financial statement requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including Contingent liabilities) as on the date of financial statements and the reported income and expenses during the reporting period. Management believes that the estimates used in the preparation of the financial statement are prudent and reasonable. Any revision to accounting estimates is recognized prospectively in current and future periods.

c) Fixed Assets:

Fixed assets are stated at historical cost less accumulated depreciation and impairment losses. Cost includes purchase / acquisition cost and incidental cost incurred to bring the assets to their location and working condition.

Carrying amount of cash generating units/assets is reviewed at Balance Sheet date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount is estimated at net selling price or value in use whichever is higher. Impairment loss, if any, is recognized whenever the carrying amount exceeds recoverable amount.

d) Investments:

Long-term investments are stated at cost less provision for permanent diminution in value of such investments, if any.

e) Revenue Recognition:

i) Sales are recognized on transfer of significant risks and rewards to the customer.

ii) Insurance, sales tax refund and other claims are accrued when there is reasonable certainty of their realization.

f) Depreciation:

Depreciation on computers is charged on straight line basis and for other assets, on the written down value basis at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956, Assets costing Rs, 5,000 or less are depreciated fully in the year of acquisition.

g) Retirement Benefits:

Defined contribution plans:

The Company makes superannuation contribution to specific contribution plan for qualifying employees. Under the scheme the Company is required to contribute a specified percentage of the payroll costs to fund the benefits.

Defined benefit plans:

Company's liability towards long term compensated absences is determined by the independent actuaries, using the projected unit credit method.

h) Earning Per Share:

The Company reports basic and diluted Earnings Per Share (EPS) in accordance with Accounting Standard 20 on "Earning Per Share".

Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year.

i) Taxation:

Income taxes are accounted for in accordance with Accounting Standard 22 on "Accounting for Taxes'on Income". Tax expenses comprise of current tax deferred tax and fringe benefit tax.

Current tax is measured at the amount expected to be paid to the tax authorities using the applicable tax rates and tax laws.

Deferred tax assets and deferred tax liabilities are recognized for future tax consequences attributable to the timing differences between taxable incomes and accounting income that are capable of reversal in one or more subsequent period and are measured using tax rates enacted or substantially enacted as at the Balance Sheet date. Deferred tax Assets arising from timing difference are recognized unless in the management judgement, only to the extent there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realized. The carrying amount of deferred tax asset is revised at each Balance Sheet date.

j) Accounting for Provisions and Contingent Liabilities and Contingent Assets:

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made, Contingent assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2010

A) ACCOUNTING CONVENTION:

These accounts have been prepared under historical cost convention on accrual basis of accounting and to comply in all the material aspects with (a) applicable accounting principles in India; (b) the Accounting Standards issued by the Institute of Chartered Accountants of India; and (c) relevant provisions of the Companies Act, 1956.

b) USE OF ESTIMATES:

The preparation of Financial statement requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including Contingent liabilities) as on the date of financial statements and the reported income and expenses during the reporting period, Management believes that the estimates used in the preparation of the financial statement are prudent and reasonable. Any revision to accounting estimates is recognized prospectively in current and future periods,

C) FIXED ASSETS:

Fixed assets are stated at historical cost less accumulated depreciation and impairment losses. Cost includes purchase / acquisition cost and incidental cost incurred to bring the assets to their location and working condition.

Carrying amount of cash generating units/assets is reviewed at Balance Sheet date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount is estimated at net selling price or value in use whichever is higher, Impairment loss, if any, is recognized whenever the carrying amount exceeds recoverable amount.

d) INVESTMENTS:

Long-term investments are stated at cost less provision for permanent diminution in value of such investments, if any,

e) REVENUE RECOGNITION:

i) Sales are recognized on transfer of significant risks and rewards to the customer.

ii) Insurance, sales tax refund and other claims are accrued when there is reasonable certainty of their realization.

f) DEPRECIATION:

Depreciation on computers is charged on straight line basis and for other assets, on the written down value basis at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956, Assets costing Rs. 5,000 or less are depreciated fully in the year of acquisition.

g) RETIREMENT BENEFITS:

Defined contribution plans:

The Company makes superannuation contribution to specific contribution plan for qualifying employees. Under the scheme the Company is required to contribute a specified percentage of the payroll costs to fund the benefits.

Defined benefit plans:

Companys liability towards long term compensated absences is determined by the independent actuaries, using the projected unit credit method.

h) EARNING PER SHARE:

The Company reports basic and diluted Earnings Per Share (EPS) in accordance with Accounting Standard 20 on "Earning Per Share".

Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year,

i) TAXATION:

Income taxes are accounted for in accordance with Accounting Standard 22 on "Accounting for Taxes on Income". Tax expenses comprise of current tax deferred tax and fringe benefit tax.

Current tax is measured at the amount expected to be paid to the tax authorities using the applicable tax rates and tax laws.

Deferred tax assets and deferred tax liabilities are recognized for future tax consequences attributable to the timing differences between taxable incomes and accounting income that are capable of reversal in one or more subsequent period and are measured using tax rates enacted or substantially enacted as at the Balance Sheet date, Deferred tax Assets arising from timing difference are recognized unless in the management judgment, only to the extent there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realized, The carrying amount of deferred tax asset is revised at each Balance Sheet date,

j) ACCOUNTING FOR PROVISIONS AND CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources, Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent assets are neither recognized nor disclosed in the financial statements.