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આઈસીએસએ ઇંડિયા

બીએસઈ: 531524  |  ઍનઍસઈ : ICSA  |  ISIN: INE306B01029  |  Computers - Software

શોધો આઈસીએસએ ઇંડિયા કનેક્શન � જૂન 14
એકાઉન્ટીંગ નીતિ વર્ષ : માર્ચ '15
These financial statements have been prepared in accordance with the
 generally accepted accounting principles in India under the historical
 cost convention on accrual basis, except for certain financial
 instruments which are measured at fair value.
 
 Under the historical cost convention on accrual basis, except for
 certain financial instruments which are measured at fair value. These
 fianacial statements have been prepared to comply in all material
 aspects with the accounting stantards notified under section 133
 (Companies (Accounting standards)Rules, 2006, as amended) and other
 relevant provisions of the companies Act, 2013.
 
 1.1 Use of estimates
 
 The preparation of the financial statements in conformity with Indian
 GAAP requires the Management to make estimates and assumptions
 considered in the reported amounts of assets and liabilities (including
 contingent liabilities) and the reported income and expenses during the
 year. The Management believes that the estimates used in preparation of
 the financial statements are prudent and reasonable. Future results
 could differ due to these estimates and the differences between the
 actual results and the estimates are recognised in the periods in which
 the results are known / materialise.
 
 1.2 Inventories
 
 Inventories are valued at the lower of cost on FIFO basis and the net
 realisable value after providing for obsolescence and other losses,
 where considered necessary. Cost includes all charges in bringing the
 goods to the point of sale, including octroi and other levies, transit
 insurance and receiving charges. Work-in-progress and finished goods
 include appropriate proportion of overheads and, where applicable,
 excise duty.
 
 1.3 Cash and cash equivalents (for purposes of Cash Flow Statement)
 
 Cash comprises cash on hand and demand deposits with banks. Cash
 equivalents are short-term balances (with an original maturity of three
 months or less from the date of acquisition), highly liquid investments
 that are readily convertible into known amounts of cash and which are
 subject to insignificant risk of changes in value.
 
 1.4 Cash flow statement
 
 Cash flows are reported using the indirect method, whereby profit /
 (loss) 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 the available information.
 
 1.5 Depreciation and amortisation
 
 Depreciation has been provided based on the net depreciable cost as at
 01.07.2014 by taking into account the useful life of the asset as on
 date per the provisions of Schedule II to the Companies Act, 2013.
 
 1.6 Revenue recognition
 
 Sale of goods
 
 Sales are recognised, net of returns and trade discounts, on transfer
 of significant risks and rewards of ownership to the buyer, which
 generally coincides with the delivery of goods to customers.
 
 Income from services
 
 Revenues from contracts priced on a time and material basis are
 recognised when services are rendered and related costs are incurred.
 Revenues from turnkey contracts, which are generally time bound fixed
 price contracts, are recognised over the life of the contract using the
 proportionate completion method, with contract costs determining the
 degree of completion. Foreseeable losses on such contracts are
 recognised when probable.
 
 Revenues from maintenance contracts are recognised pro-rata over the
 period of the contract.
 
 1.7 Tangible fixed assets
 
 Fixed assets are carried at cost less accumulated depreciation and
 impairment losses, if any. The cost of fixed assets includes interest
 on borrowings attributable to acquisition of qualifying fixed assets up
 to the date the asset is ready for its intended use and other
 incidental expenses incurred up to that date. Exchange differences
 arising on restatement / settlement of long-term foreign currency
 borrowings relating to acquisition of depreciable fixed assets are
 adjusted to the cost of the respective assets and depreciated over the
 remaining useful life of such assets. Machinery spares which can be
 used only in connection with an item of fixed asset and whose use is
 expected to be irregular are capitalised and depreciated over the
 useful life of the principal item of the relevant assets. Subsequent
 expenditure relating to fixed assets is capitalised only if such
 expenditure results in an increase in the future benefits from such
 asset beyond its previously assessed standard of performance.  Fixed
 assets acquired and put to use for project purpose are capitalised and
 depreciation thereon is included in the project cost till commissioning
 of the project.
 
 Fixed assets acquired in full or part exchange for another asset are
 recorded at the fair market value or the net book value of the asset
 given up, adjusted for any balancing cash consideration. Fair market
 value is determined either for the assets acquired or asset given up,
 whichever is more clearly evident. Fixed assets acquired in exchange
 for securities of the Company are recorded at the fair market value of
 the assets or the fair market value of the securities issued, whichever
 is more clearly evident.
 
 Fixed assets retired from active use and held for sale are stated at
 the lower of their net book value and net realisable value and are
 disclosed separately in the Balance Sheet.
 
 Capital work-in-progress:
 
 Projects under which assets are not ready for their intended use and
 other capital work-in-progress are carried at cost, comprising direct
 cost, related incidental expenses and attributable interest.
 
 1.8 Intangible assets
 
 Intangible assets are carried at cost less accumulated amortisation and
 impairment losses, if any. The cost of an intangible asset comprises
 its purchase price, including any import duties and other taxes (other
 than those subsequently recoverable from the taxing authorities), and
 any directly attributable expenditure on making the asset ready for its
 intended use and net of any trade discounts and rebates. Subsequent
 expenditure on an intangible asset after its purchase / completion is
 recognised as an expense when incurred unless it is probable that such
 expenditure will enable the asset to generate future economic benefits
 in excess of its originally assessed standards of performance and such
 expenditure can be measured and attributed to the asset reliably, in
 which case such expenditure is added to the cost of the asset.
 
 1.9 Foreign currency transactions and translations
 
 Initial recognition
 
 Transactions in foreign currencies entered into by the Company and its
 integral foreign operations are accounted at the exchange rates
 prevailing on the date of the transaction or at rates that closely
 approximate the rate at the date of the transaction.
 
 Measurement of foreign currency monetary items at the Balance Sheet
 date
 
 Foreign currency monetary items (other than derivative contracts) of
 the Company and its net investment in non- integral foreign operations
 outstanding at the Balance Sheet date are restated at the year-end
 rates.
 
 In the case of integral operations, assets and liabilities (other than
 non-monetary items), are translated at the exchange rate prevailing on
 the Balance Sheet date. Non-monetary items are carried at historical
 cost. Revenue and expenses are translated at the average exchange rates
 prevailing during the year. Exchange differences arising out of these
 translations are charged to the Statement of Profit and Loss.
 
 Treatment of exchange differences
 
 Exchange differences arising on settlement / restatement of short-term
 foreign currency monetary assets and liabilities of the Company and its
 integral foreign operations are recognised as income or expense in the
 Statement of Profit and Loss. The exchange differences on restatement /
 settlement of loans to non-integral foreign operations that are
 considered as net investment in such operations are accumulated in a
 Foreign currency translation reserve until disposal / recovery of the
 net investment.
 
 The exchange differences arising on restatement / settlement of
 long-term foreign currency monetary items are capitalised as part of
 the depreciable fixed assets to which the monetary item relates and
 depreciated over the remaining useful life of such assets or amortised
 on settlement / over the maturity period of such items if such items do
 not relate to acquisition of depreciable fixed assets. The unamortised
 balance is carried in the Balance Sheet as Foreign currency monetary
 item translation difference account net of the tax effect thereon.
 
 1.10 Government grants, subsidies and export incentives
 
 Government grants and subsidies are recognised when there is reasonable
 assurance that the Company will comply with the conditions attached to
 them and the grants / subsidy will be received. Government grants whose
 primary condition is that the Company should purchase, construct or
 otherwise acquire capital assets are presented by deducting them from
 the carrying value of the assets. The grant is recognised as income
 over the life of a depreciable asset by way of a reduced depreciation
 charge.
 
 Export benefits are accounted for in the year of exports based on
 eligibility and when there is no uncertainty in receiving the same.
 
 Government grants in the nature of promoters'' contribution like
 investment subsidy, where no repayment is ordinarily expected in
 respect thereof, are treated as capital reserve. Government grants in
 the form of non- monetary assets, given at a concessional rate, are
 recorded on the basis of their acquisition cost. In case the non-
 monetary asset is given free of cost, the grant is recorded at a
 nominal value.
 
 Other government grants and subsidies are recognised as income over the
 periods necessary to match them with the costs for which they are
 intended to compensate, on a systematic basis.
 
 1.11 Investments
 
 Long-term investments (excluding investment properties), are carried
 individually at cost less provision for diminution, other than
 temporary, in the value of such investments. Current investments are
 carried individually, at the lower of cost and fair value. Cost of
 investments include acquisition charges such as brokerage, fees and
 duties.  Investment properties are carried individually at cost less
 accumulated depreciation and impairment, if any.  Investment properties
 are capitalised and depreciated (where applicable) in accordance with
 the policy stated for Tangible Fixed Assets. Impairment of investment
 property is determined in accordance with the policy stated for
 Impairment of Assets.
 
 1.12 Impairment of assets
 
 The carrying values of assets / cash generating units at each Balance
 Sheet date are reviewed for impairment. If any indication of impairment
 exists, the recoverable amount of such assets is estimated and
 impairment is recognised, if the carrying amount of these assets
 exceeds their recoverable amount. The recoverable amount is the greater
 of the net selling price and their value in use. Value in use is
 arrived at by discounting the future cash flows to their present value
 based on an appropriate discount factor. When there is indication that
 an impairment loss recognised for an asset in earlier accounting
 periods no longer exists or may have decreased, such reversal of
 impairment loss is recognised in the Statement of Profit and Loss,
 except in case of revalued assets.
 
 1.13 Research and development expenses
 
 Revenue expenditure pertaining to research is charged to the Statement
 of Profit and Loss. Development costs of products are also charged to
 the Statement of Profit and Loss unless a product''s technological
 feasibility has been established, in which case such expenditure is
 capitalised. The amount capitalised comprises expenditure that can be
 directly attributed or allocated on a reasonable and consistent basis
 to creating, producing and making the asset ready for its intended use.
 Fixed assets utilised for research and development are capitalised and
 depreciated in accordance with the policies stated for Tangible Fixed
 Assets and Intangible Assets.
 
 1.14 Earnings per share
 
 Basic earnings per share is computed by dividing the profit / (loss)
 after tax (including the post tax effect of extraordinary items, if
 any) by the weighted average number of equity shares outstanding during
 the year. Diluted earnings per share is computed by dividing the profit
 / (loss) after tax (including the post tax effect of extraordinary
 items, if any) as adjusted for dividend, interest and other charges to
 expense or income relating to the dilutive potential equity shares, by
 the 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 the conversion of all dilutive
 potential equity shares. Potential equity shares are deemed to be
 dilutive only if their conversion to equity shares would decrease the
 net profit per share from continuing ordinary operations. Potential
 dilutive equity shares are deemed to be converted as at the beginning
 of the period, unless they have been issued at a later date.  The
 dilutive potential equity shares are adjusted for the proceeds
 receivable had the shares been actually issued at fair value (i.e.
 average market value of the outstanding shares). Dilutive potential
 equity shares are determined independently for each period presented.
 The number of equity shares and potentially dilutive equity shares are
 adjusted for share splits / reverse share splits and bonus shares, as
 appropriate.
 
 1.15 Employee benefits
 
 Employee benefits include provident fund, superannuation fund, gratuity
 fund, compensated absences, long service awards and post-employment
 medical benefits.
 
 Defined contribution plans
 
 The Company''s contribution to provident fund and superannuation fund
 are considered as defined contribution plans and are charged as an
 expense as they fall due based on the amount of contribution required
 to be made.
 
 Defined benefit plans
 
 For defined benefit plans in the form of gratuity fund and
 post-employment medical benefits, the cost of providing benefits is
 determined using the Projected Unit Credit method, with actuarial
 valuations being carried out at each Balance Sheet date. Actuarial
 gains and losses are recognised in the Statement of Profit and Loss in
 the period in which they occur. Past service cost is recognised
 immediately to the extent that the benefits are already vested and
 otherwise is amortised on a straight-line basis over the average period
 until the benefits become vested. The retirement benefit obligation
 recognised in the Balance Sheet represents the present value of the
 defined benefit obligation as adjusted for unrecognised past service
 cost, as reduced by the fair value of scheme assets. Any asset
 resulting from this calculation is limited to past service cost, plus
 the present value of available refunds and reductions in future
 contributions to the schemes.
 
 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
 during the year when the employees render the service. These benefits
 include performance incentive and compensated absences which are
 expected to occur within twelve months after the end of the period in
 which the employee renders the related service. The cost of such
 compensated absences is accounted as under :
 
 (a) in case of accumulated compensated absences, when employees render
 the services that increase their entitlement of future compensated
 absences; and
 
 (b) in case of non-accumulating compensated absences, when the absences
 occur.
 
 Long-term employee benefits
 
 Compensated absences which are not expected to occur within twelve
 months after the end of the period in which the employee renders the
 related service are recognised as a liability at the present value of
 the defined benefit obligation as at the Balance Sheet date less the
 fair value of the plan assets out of which the obligations are expected
 to be settled. Long Service Awards are recognised as a liability at the
 present value of the defined benefit obligation as at the Balance Sheet
 date.
 
 1.16 Segment reporting
 
 The Company identifies primary segments based on the dominant source,
 nature of risks and returns and the internal organisation and
 management structure. The operating segments are the segments for which
 separate financial information is available and for which operating
 profit/loss amounts are evaluated regularly by the executive Management
 in deciding how to allocate resources and in assessing performance.
 
 The accounting policies adopted for segment reporting are in line with
 the accounting policies of the Company.  Segment revenue, segment
 expenses, segment assets and segment liabilities have been identified
 to segments on the basis of their relationship to the operating
 activities of the segment.
 
 Inter-segment revenue is accounted on the basis of transactions which
 are primarily determined based on market / fair value factors.
 
 Revenue, expenses, assets and liabilities which relate to the Company
 as a whole and are not allocable to segments on reasonable basis have
 been included under unallocated revenue / expenses / assets /
 liabilities.
 
 1.17 Borrowing costs
 
 Borrowing costs include interest, amortisation of ancillary costs
 incurred and exchange differences arising from foreign currency
 borrowings to the extent they are regarded as an adjustment to the
 interest cost. Costs in connection with the borrowing of funds to the
 extent not directly related to the acquisition of qualifying assets are
 charged to the Statement of Profit and Loss over the tenure of the
 loan. Borrowing costs, allocated to and utilised for qualifying assets,
 pertaining to the period from commencement of activities relating to
 construction / development of the qualifying asset upto the date of
 capitalisation of such asset is added to the cost of the assets.
 Capitalisation of borrowing costs is suspended and charged to the
 Statement of Profit and Loss during extended periods when active
 development activity on the qualifying assets is interrupted.
 
 1.18 Taxes on income
 
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the Income Tax
 Act, 1961.
 
 Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
 gives future economic benefits in the form of adjustment to future
 income tax liability, is considered as an asset if there is convincing
 evidence that the Company will pay normal income tax. Accordingly, MAT
 is recognised as an asset in the Balance Sheet when it is probable that
 future economic benefit associated with it will flow to the Company.
 
 Deferred tax is recognised on timing differences, being the 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.  Deferred tax is measured using the tax rates and the tax laws
 enacted or substantially enacted as at the reporting date. Deferred tax
 liabilities are recognised for all timing differences. Deferred tax
 assets in respect of unabsorbed depreciation and carry forward of
 losses are recognised only if there is virtual certainty that there
 will be sufficient future taxable income available to realise such
 assets. Deferred tax assets are recognised for timing differences of
 other items only to the extent that reasonable certainty exists that
 sufficient future taxable income will be available against which these
 can be realised. Deferred tax assets and liabilities are offset if such
 items relate to taxes on income levied by the same governing tax laws
 and the Company has a legally enforceable right for such set off.
 Deferred tax assets are reviewed at each Balance Sheet date for their
 realisability.
 
 1.19 Premium on redemption of Bonds/Debentures
 
 Premium on redemptin of Bonds/Debentures, net of tax impact, are
 adjusted against the Securities Premium Account.
સ્તોત્ર: રેલીગેર ટેકનોવા


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