A provision is recognized when the company has a present obligation as a result of past event; it is probable
that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate
can be made. Provisions are not discounted to its present value and are determined based on best estimate
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.
(l) Earnings per share:
Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to
equity shareholders and the weighted average number of shares outstanding during the period are adjusted
for the effects of all dilutive potential equity shares.
(m) Foreign Currency Transactions:
Foreign exchange transactions are recorded at the rate prevailing on the date of respective transaction.
Monetary assets and liabilities denominated in foreign currencies as at the balance sheet date are translated
at the closing exchange rates on that date. Non-monetary items which are carried in terms of historical cost
denominated in a foreign currency are reported using the exchange rate at the date of transaction. Exchange
differences arising on foreign exchange transactions settled during the year and on restatement as at the
balance sheet date are recognized in the statement of profit and loss for the year.
(n) Balance Confirmations:
Balance of Debtors & Creditors & Loans & advances Taken & giving are subject to confirmation and subject
to consequential adjustments, if any. Debtors & creditors balance has been shown separately and the
advances received and paid from/to the parties is shown as advance from customer and advance to
suppliers.
(o) Regrouping:
Previous year's figures have been regrouped and reclassified wherever necessary to match with current year
grouping and classification.
(p) Prior Period Items:
Prior Period and Extraordinary items and Changes in Accounting Policies having material impact on the
financial affairs of the Company are disclosed in financial statements if any.
For and behalf of the Board In terms of our report of even date
FOR GUPTA AGARWAL & ASSOCIATES
CHARTERED ACCOUNTANTS
Subrata Dey Pritish Subrata Dey FRN NO. 329001E
Director Director
DIN: 06747042 DIN: 08235311
(BADRI PRASAD SINGHANIA)
PARTNER
Janvhi Ajit Tawde MEMBERSHIP NO. 058970
(Chief Financial Officer) Place: Kolkata
Date:
Sapna Badar
Company Secretary
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