Cybele Industries Ltd. कंपली की लेखा नीति

Mar 31, 2025

1. Company Information

Cybele Industries Limited (“the Company”) (CIN- L31300TN1993PLC025063)is a public limited Company incorporated in India with its registered office in No. 138, SIDCO Industrial, Estate, Ambattur, Chennai, Tamil Nadu, 600098 India. The Company is listed on the BSE Limited (BSE).

“Q-FLX CABLES is equipped with the most sophisticated manufacturing and testing equipment to ensure consistent quality in all the products, manufactured in their modernized plant, located in the well-developed Ambattur Industrial Estate, Chennai, Tamil Nadu, which is 20km away from Chennai International Airport,15kms from seaport and 12 km from Chennai Central railway station. Through our consistent quality and innovative solutions, we cater to the needs of a variety of consumers ranging from individuals to large projects. Our excellent track record on product quality has made milestones in various fields such as Construction, Industry Power Projects, Railways, Automotive Industry, Consumer Electrical and electronics, computer and home appliances. With our commitment to excellence, Q-FLX CABLES stands as a leading Wiring Harness Manufacturer in India.

Customized product design and manufacture is the special feature of the company and thus the company is recognized for its innovative leadership . We always believe that public awareness on product quality and safety yields better living environment, which is recognized far and wide.”

2. Material accounting policies

a General Information and Statement of Compliance with Ind AS

The Standalone Financial Statements (hereinafter referred as Standalone Financial Statements or the Financial Statements) of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Companies (Indian Accounting Standards) Rules, 2015. These Standalone financial statements includes Balance Sheet as at 31st March, 2025, the Statement of Profit and Loss including Other Comprehensive Income, Statement of Cash Flows and Statement of Changes in Equity for the year ended 31st March, 2025, and a summary of material accounting policies and other explanatory information (together hereinafter referred to as Standalone Financial Statements or the Financial Statements).

The financial statements have been prepared on historical cost basis, except for following assets and liabilities:

i. Certain Financial Assets, Financial Liabilities and Contingent Consideration that are measured at fair value

ii. Assets held for sale measured at lower of cost or fair value less cost to sell.

iii. Defined benefit plan assets measured at fair value.

iv. Share-based payment liability measured at fair value.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services at the date of respective transactions.

Accounting policies have been consistently applied except where :

i. 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

ii. The Company presents an additional balance sheet at the beginning of the earliest comparative period when: it applies an accounting policy retrospectively; it makes a retrospective restatement of items in its financial statements; or, when it reclassifies items in its financial statements, and the change has a material effect on the financial statements.

All amounts are stated in Lakhs of Rupees, rounded off to two decimal places, except when otherwise indicated. The figure “0.00” wherever stated, represents value less than '' 5,000.

The Standalone Financial Statements for year ended 31st March, 2025 were authorized and approved for issue by Board of Directors of the Company on 27th May, 2025

b Current Versus Non-Current Classification

The Company presents assets and liabilities in statement of financial position based on current/non-current classification. The Company has presented non-current assets and current assets before equity, non-current liabilities and current liabilities in accordance with Schedule III, Division II of Companies Act, 2013 notified by Ministry of Corporate Affairs (MCA). Operating Cycle is time between acquisition of assets for processing and their realisation in cash or cash equivalents. The Company has identified twelve months as its operating cycle for the purpose of current non-current classification of assets and liabilities.

Classification of assets and liabilities

i. An asset is classified as current when it is:”

a) Expected to be realised or intended to be sold or consumed in normal operating cycle,”

b) Held primarily for purpose of trading”

c) Expected to be realised within twelve months after reporting period, or”

d) Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after reporting period.”

All other assets are classified as non-current.

ii. A liability is classified as current when it is:”

a) Expected to be settled in normal operating cycle”

b) Held primarily for purpose of trading”

c) Due to be settled within twelve months after reporting period, or”

d) There is no unconditional right to defer settlement of liability for at least twelve months after reporting period.”

All other liabilities are classified as non-current

iii. Deferred tax assets and Deferred tax liabilities are classified as non-current assets and liabilities.” c Functional and Presentation Currency

These financial statements are presented in Indian Rupees ('') which is the functional currency of the Company. All amounts disclosed in the financial statements which also include the accompanying notes have been rounded off to the nearest million up to two decimal places, as per the requirement of Schedule III to the Companies Act, 2013, unless otherwise stated.

d Significant Management Judgements in applying Accounting Policies and Estimation Uncertainty

Estimates and judgements are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the company and that are believed to be reasonable under the circumstances. Although these estimates and assumptions used in accompanying financial statements are based upon management’s evaluation of relevant facts and circumstances as of date of financial statements which in management’s opinion are prudent and reasonable, actual results may differ from estimates and assumptions used in preparing accompanying financial statements.

Any revision to accounting estimates is recognized prospectively from the period in which results are known/ materialise in accordance with applicable Indian Accounting Standards (Ind AS). Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below.

A Significant Management Judgements

Following are Significant Management Judgements in applying Accounting Policies of the Company that have most significant effect on the Financial Statements

I. Evaluation of Indicators for Impairment of Assets

The evaluation of applicability of indicators of impairment of assets requires assessment of several external and internal factors which could result in deterioration of recoverable amount of assets.”

II. Revenue from contracts with customers

Certain contracts of the Company for sale of goods and services include discounts, rebates & Incentives that give rise to variable consideration. The Company determined that estimates of variable consideration are based on its historical

experience, business forecast and current economic conditions. The Company determined that expected value method is appropriate method to use in estimating the variable consideration as the large number of customer contracts that have similar characteristics”

B Estimation uncertainty

Information about estimates and assumptions that have most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below:”

I. Revenue Recognition

Where revenue contracts include deferred payment terms, management of the Company determines fair value of consideration receivable using the expected collection period and incremental rate of borrowing interest rate prevailing at the date of transaction.

II. Cost to Complete

The Company’s management estimate the cost to complete for each project for the purpose of revenue recognition and recognition of anticipated losses of the projects, if any. In the process of calculating the cost to complete, management conducts regular and systematic reviews of actual results and future projections with comparison against budget. The process requires monitoring controls including financial and operational controls and identifying major risks facing the Company and developing and implementing initiative to manage those risks. The Company’s management is confident that the costs to complete the project are fairly estimated.

III. Useful lives of property, plant and equipment

The Company reviews the useful life of property, plant and equipment at the end of each reporting period. This reassessment may result in change in depreciation expense in current and future periods.

IV. Fair Value Measurement of Financial Instrument

When fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using various valuation techniques. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as Liquidity Risk, Credit Risk and Volatility. Changes in assumptions about these factors could affect reported fair value of financial instruments.

V. Impairment of Financial Assets

Impairment Provisions of financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting inputs to the impairment calculation, based on Company’s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

VI. Impairment of Investments In Subsidiaries and Associates

Determining whether the investments in subsidiaries and associates are impaired requires an estimate in the value in use of investments. In considering the value in use, the directors have anticipated the future market conditions and other parameters that affect the operations of these entities.

VII. Inventories

The Company estimates net realisable values of inventories, taking into account the most reliable evidence available at each reporting date. The future realisation of these inventories may be affected by future technology or other market driven changes that may reduce future selling prices.

VIII. Recoverability of Advances / Receivables

The Company from time to time reviews the recoverability of advances and receivables. Review is done at least once in a financial year and such assessment requires significant management judgement based on financial position of the counter-parties, market information and other relevant factors.

IX. Provisions for Warranties

Warranty provisions are determined based on the historical percentage of warranty expense to sales for the same types of goods for which the warranty is currently being determined. The same percentage to the sales is applied for the current accounting period to derive the warranty expense to be accrued. It is very unlikely that actual warranty claims will exactly match the historical warranty percentage, so such estimates are reviewed annually for any material changes in assumptions and likelihood of occurrence.

X. Income Tax and Deferred Tax

Uncertainties exist with respect to the interpretation of complex tax regulations, changes in tax laws, and the amount and timing of future taxable income. Given the wide range of business relationships and the long term nature and complexity of existing contractual agreements, differences arising between actual results and assumptions made, or future changes to such assumptions, could necessitate future adjustments to tax income and expense already recorded. The Company establishes provisions, based on reasonable estimates. The amount of such provisions is based on various factors, such as experience of previous tax audits and differing interpretations of tax regulations.

A deferred tax asset is recognised to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and tax losses can be utilised. Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits together with future tax planning strategies. Accordingly, the Company exercises its judgement to reassess the carrying amount of deferred tax assets at the end of each reporting period.

XI. Provisions and Contingencies

Management judgement is required for estimating the possible outflow of resources, if any, in respect of contingencies/ claim/litigations against the Company as it is not possible to predict the outcome of pending matters with accuracy.

XII. Defined Benefit Obligation (DBO)

Management’s estimate of the DBO is based on a number of critical underlying assumptions such as standard rates of inflation, mortality, discount rate and anticipation of future salary increases. Variation in these assumptions may impact the DBO amount and the annual defined benefit expenses.

e Exceptional Items

Exceptional items are transactions which due to their size or incidence are separately disclosed to enable a full understanding of the Company’s financial performance. Items which may be considered exceptional are significant restructuring charges, gains or losses on disposal of investments of subsidiaries & associates and impairment losses/ write down in the value of investment in subsidiaries & associates and significant disposal of fixed assets

d The material accounting policies used in preparation of the financial statements have been disclosed in the respective notes

3. Property, Plant and Equipment Accounting Policy

Freehold land is carried at historical cost. Property, Plant and Equipment are stated at cost,net of accumulated depreciation and impairment losses, if any. Cost of Property, Plant and Equipment comprises its purchase price net of any trade discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making asset ready for its intended use, including relevant borrowing costs for qualifying assets and any expected costs of decommissioning.

Borrowing Cost attributable to acquisition, construction of qualifying assets is capitalized until such time as the assets are substantially ready for their intended use. Indirect expenses during construction period, which are required to bring the asset in the condition for its intended use by the management and are directly attributable to bringing the asset to its position, are also capitalised.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and cost of the item can be measured reliably

Expenditure incurred after Property, Plant and Equipment have been put into operation, such as repairs and maintenance, are charged to Statement of Profit and Loss in the period in which costs are incurred

Advances paid towards the acquisition of Property, Plant and Equipment outstanding at each Balance Sheet date is classified as capital advances under other non-current assets.

An item of Property, Plant and Equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the Statement of Profit and Loss account when the asset is derecognised.

Depreciation on Property, Plant and Equipment is charged on straight line method either on the basis of rates arrived at with reference to the useful life of the assets evaluated by Independent valuer and approved by the Management or rates arrived at based on useful life prescribed under Part C of Schedule II of the Companies Act, 2013

The following useful lives are applied:
Asset category	Useful life
Land
Buildings
- Factory Buildings	30 Years
- Other (including temporary structure, etc.)	05 Years
Plant and Equipment including Project tools	05 - 20 Years
Furniture and Fittings	05 - 10 Years
Motor Vehicles
- Owned	08 - 10 Years
Office Equipment	05 Years
Computers
- End user devices viz. desktops, laptops, etc.	03 Years
Property, Plant and Equipment individually costing upto '' 5,000 are fully depreciated in the year of acquisition.

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Mar 31, 2024

2. SIQNIFICANTACCOUNTINGPOUCIES

2.1 Statemen 1 Of c ompli an ca:

The financial statements have* been prepaied in accordance willi Indran Accounting Standards find AS ) nuitfied under the Companies (Indian Accounting Standards.! Rules 2015 as amended hy the Companies (Indian Accounting Standards) tAmendment) Rules. 2016

2.2 Basis of preparation of financial statements:

The financial statements nave been prepared on iha historical cost basis except tor certain financial instruments that are measured at fan values at the end of each reporting period, as explained in the accounting policies be tow

Historical cost is generally based on the fair value of the consideration grven In exchange for goods and services at the dale of respective transactions

Fair value is the price that would be received to sell an asset or paid to transfer a liability m an orderly transaction between market participants at the measurement date regardless at whether that price is directly observable or estimated using another valuation technique in estimating the fair value of an asset or a liability, the Group takes into account the character isttcs of the asset or liability if m a rust participants would take those characteristics into account when pricing the asset or liability at the meg surement date Fair value for measurement and/or disclosure purposes m these consolidated financial statements is determined on such q basis except for share-based payment transactions lha! are within the scope of Ind AS 1Q? leasing transactions that are wrthin the scope oi I nd «S 17, and measurements that have some similarities to fair value but are not fair value such as net realisable value in Ind AS 2 or value in use In Ind as 36

In addition. 1br financial reporting purposes fair value measurements are categorised into Level 1, 2 or 3 based on the degree to which the inputs to The fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:

Lave! 1 Inputs are quoted prices (unadjusted! In active markets for identical assets or liabilities that the entity can access at the measurement date

Level 2 inputs ara inputs other ihan quoted prices included within Level 1 that are ooservebip for the asset or liability either directly or indirectly, and

Level 3 inputs am unobservable Inputs tor the asset of liability

2.3 Use of estimates and Judgements:

The preparation of financial statements requires management to make eslimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and reported amounts of income and expenses during the period The recognition measurement classification or disclosure of an nem or information m the financial statements is made relying on these estimates.

The estimates and judgements used in the preparation of the financial statements are continuously evaluated by the Company and are based on historical experience and various other assumptions and factors (including expectations of future events) that the Company believas to be reasonable under the existing circumstances Actual results couio differ from those estimates Any revision to account mg estimates rs recognised prospectively in current end future periods The critical accounting judgements and key estimates followed by the Company for preparation of financial statements

2.4 Revenue Recognition:

2.4.1 Sale qf Cables

Revenue Is recognized to ihe extent that it is probable that the economic benefits will flow to the company ana (he revenue can be reliably measured Revenue is measured at ihe fair value of the consideration received or receivable Revenue is reduced for o&i minted rebates and other similar allowances

Revenue from sale of cable / other items is recognised when substantial risks and rewards of ownership is transferred to the buyer under the terms of the contract

2.4.2 Re ven ue (ro m c on st ru c ho n con l ract s

Revenue fiom construction etmlracts is recognised ny applying percerilage of completion melnod after provrdmg for foreseeable losses if any. Percentage of completion is determined as a proportion o!¹ the cost Incurred up to the reporting dale to the total estimated cost to complete Foreseeable losses, if eny, on the contracts is recognised as an expense m Ihe period in which it is foreseen, irrespective cf She stage of completion of Ihe qonirec: While determining the amount of foreseeable toss all elements of tost and related incidental income which Is not included In contract revenue is taken into consideration Conlract is reflected at cost lhat Is expected to be recoverable hll such time the outcome of the contract cannot be ascertained reliably and at realisable value thereafter Cterms are accounted as income in the year ot acceptance by customer

2.4.3 Dividend and interest Income

Dividend income is recognised in the statement of profit ana loss onty when the right to receive payment is established it is probable that the economic benefits associated with the dividend will How to the Company, and the amount of the dividend can be measured refrably

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company end the amount of income can be measured reliably tnteresf income is accrued on a hme basis, by reference to the principal outstanding and at the effective interest rate applicable which is the rate That exactly discounts estimated future cash receipts through the expected life of The financial assel to that asset''s net carrying amount on initial recognition

2.5 Property Plants Equipment:

i) The cost of property, plan! and equipment comprises its purchase price nel of any trade discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities) any directly attributable expenditure on making ihe asset ready for its mtendEd use including relevant borrowing costs for qualifying assets and any expected costs of decommissioning Expenditure incurred after the property, plant ana equipment have been put into operation such as repairs and maintenance are charged to Statement of Profit and Loss in the period in which the costs are Incurred

ii| Major shutdown or overhaul expenditure is capitalised as the activities undertaken improve the economic benefits expected to arise from the asset

iil) An item oT property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset Any gain or Joss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between ine sale proceeds and tnr; carrying amount of the asset arid is recognised m the Statement of Profil and Loss

iv> Assets in She course of construction ara capitalised m the assets undar capital work in progress account (CWIP; At the point when an asset is opEraung a: management''s intended use Ihe cost of construction is t ran stoned to (he appropriate category of property, plant and equipment and daprecration commences Where an obligation (legal or consbuctivei exists to dismantle or remove an asset or restore a site tc its former condition si the end of its useful life the present value ot the

estimated cos'' of dismantling rEmovmg or restoring the site is capitalized along with the cast of acquisition or cons]faction upon completion and a tottespending liability Is recognized. Revenue generate a from production dunng ihe trial period is capitalised

V) For transition to tnd AS, Ihe company hat elected to adopt fair value of the buildings. olant and equipment recognised asotApol 1, 2Qffi as the deemed cost asoTthe transition date The carrying value of other assets as per the previous GAAP is considered as deemed cost.

2.6 I ntangibfe As sets:

Intangible assets with finite useful lifqfi that ere acquired separately are earned at cost lass accumulated amortisation ana accumulated impairment losses Intangible assets with indefinite useful lifes are carried at cost less accumulated Impairment losses

Certain computer software costs are capitated and recognised as intangible assets based on materiality, accounting prudence and significant benefits expected to flow there from for a period longer than one year

2.7 Depreciation ! amortisation;

Depreciation i$ recognised so as to write off the cost of assets father than freehold lend and properties under const ruction j less their residual values over therr useful lifes using the straight-1 me method

Amortisation IS recognised on a straight line basis over their estimated useful lifes The estimated useTut life and amortisation method are reviewed at the end of each repotting period with the effect of any changes ir, estimate being accounted for on a prospective basis

Assets held under finance leases are depreciated over their expected useful Ides on the same basis as owned assets However, when there is no reasonable certainty (hat ownership will be obtained by Ihe end of the lease term assets are depreciated over the shorter of the lease temn end then useful lifes.

Estimated useful life of the assets are as follows:

Class of Property, Plant and Equipment Useful fife

As per the Companies Act

2.B Impairment of tangible and intangible assets other Hi an y oodwi If

Al the end of each reporting period the Company reviews the carrying amounts of its tangible and intangible assets to determine whether (hern is any indication that those assets have suffered an impairment loss. II any Such indication exists the recoverable amount of the asset is estimated In order to determine the extent of the impairment loss tif any!

Recoverable amount is the higher of fair value less costs of disposal and value m use. In assessing value m use the estimated future cash flows are discounted to their present value using a pre-tax discount rate thal reflects current market assessments of Ihe lime value of money ahd the risks specific to ihe asset for which the estimates of future cash flows have not been adjusted.

tf the recoverable amount of an asset (oi cash-gene rating unit) is estimated to be less than rts carrying amount, the carrying amount of the asset for cash-generating unit) is reduced to its recoverable amount An impairment loss is recognised immediately in Statement of Profit and Loss

When an impairment loss subsequently reverses, rhe carrying amount of the asset (or a cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed Ihe carrying amount that would have been determined had no impairment loss been recognised for tiie asset ior cash-generating unitj in prior years A reversal of an impairment toss is recognised immediately in profit or toss

2,9 Sorrowing Cost:

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are

capitalised as part of the cost of the asset Other borrowing costs are recognized as an expanse in the period m wh^h they are intruded

2.10 Inventories:

Cost of inventories includes cost of purchase, costs of conversion and other costs incurred in bringing the inventories to their present Joe at ion and condition Inventories of stores spare parts coal fuel and loose toots are stated at the lower Df weighted average cost and net realizable value Met realisable value represents the estimated setting, price tor inventories in the ordinary course ot business less all estimated costs of completion and estimated costs necessary to make the sale

2.11 Em ptoy ee Be n efits:

All employee benefits payable Within twelve months of tendering the service are classified as short term employee benefits Short term employee benefils in the nature of salery wages, bonus, leave encashment dnd the expected easi of ex-gratia are recognized and accounted for on accrual basis in The period In which the employee renders the related service

Provident Fund and Employees State Insurance Scheme is a dafined contribution plan each eligible employee and the company makes epual contributions at a percentage on the basic salary specified tinder the Employees Provident Fund and Miscellaneous Provision Act. 1952 and Employees State Insurance Acl 1948 respectively The company''s contributions are charged lo the profit and loss account iti the year when the contributions to the respective funds are due The company has no further obligations under the plan beyond its periodic contributions.

2.12 Taxation:

Income tax expense represents the sum of the tax currently payahre and deferred lax

2.12.1 Current Tax:

The Lax currently payable is based on taxable profit for the year Taxable profit differs from profit before tax as reported m the statement of pro lit and loss because of hems of income or expense that are taxable ar deductible in other years and items that are never taxable or deductible The Groups current tax is calculated using tax rates thai have been enacted or substantively enacted by the end of the reporting period

2.12.2 Deferred Tax:

Deferred tax Is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax hoses used in the computation of taxable profit Deferred tax liabilities are generally recognised for all taxable temporary differences Deferred tax assets are generally recognised for alt deductible temporary differences to the extent that U is probable that taxable profits will be available against which those deductible temporary differences can be utilised Such oeferred tax assets and liabilities are not recognised il the temporary difference arises from the initial recognition (other than m a business combination! of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit In addition, deferred tax liabilities are not recognised if the temporary difference arises from the initial recognition of goodwill Deferred tax liabilities are recognised for laxahle temporary differences associated with investments in subsidiaries ahef associates, and interests in joint ventures, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse m the foreseeable future- Deferred tax asset? arising from deductible temporary differences associated with such investments and interest are only recognised to the extent lhat it is probable that Iheie will be suffrcienl taxable profits against which to utilise the benefits of the temporary differences and they arc-expected to reverse In the foreseeable future

The carryihg amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable lhat sufficient taxable profits Will bo available to allow all or part of the asset to be recovered

Deferred tax liabilities and assets are measured at the tax rates that are exp acted to apply In the period m which the liability is settled or the asset realised based on tax iates land tax laws) that have heeri enacted or substantively enacted by the end oMhe reporting pehod

The measurement of deterred tax liabifilies and assets reflects the tax consequences that would follow from the manner in whrch the Group expects, at the end of the reporting period, to recover or settle the carrying amount of rts assets and liabilities

2.13 Cash and cash equivalents:

Cash and cash equivalents in ihe balance sheet comprise cash at banks and on hand and short-term deposits with an original matuniv of three monihs or less, which are subject to an m&ignrhcanl- risk of changes in value For the purpose of the statement of cash Mows, cash anq cash Equivalents consist of cash and shorl-term deposits, as defined above net of outstanding bank overdrafts as they are considered an mlegral part of the Company''s cash management

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Mar 31, 2015

1.1 Basis of preparation of financial statements:

The financial statements of the company are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historic convention on the accrual basis except for certain financial instruments which are measured at fair values. The company has prepared these financial statements to comply in all material respects with the Accounting Standards specified under section 133 of the Companies Act 2013, read with rule 7 of the Companies (accounts) Rules 2014 and the relevant provisions of the companies act 2013.

1.2 Use of estimates:

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and reported amounts of income and expenses during the period.

Estimates are based on the current events and actions and the actual results could differ from those estimates from period to period. Appropriate changes in estimates are made as the management becomes aware of changes in circumstances surrounding the estimates. Changes in the estimates are reflected in the financial statements in the period in which changes are made and if material, their effects are disclosed in the notes to the financial statements.

The management periodically assets using external and internal sources whether there is an indication that an asset may be impaired. An impairment loss is recognized wherever the carrying value of an asset exceeds its recoverable amount. The recoverable amount is higher of the assets net selling price and values in use, which means the present value of future cash flows expected to arise from the continuing use of the assets and its eventual disposal. An impairment loss for an asset other than goodwill is reversed if, and only if, the reversal can be related objectively to an event occurring after the impairment loss was recognized. The carrying amount of an asset other than good will is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization or depreciation) had no impairment loss been recognized for the asset in prior years.

1.3 Revenue Recognition:

The company follows the mercantile system of accounting and recognizes income on accrual basis, in accordance with the requirements of the companies Act,2013.

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. For some of the services rendered, the company collects service tax on behalf of the government and therefore, it is not an economic benefit flowing to the company hence it is excluded from revenue.

Income from operations comprises of income from the following heads mainly freight forwarding, customs clearance, logistics and support services, warehousing etc., representing the gross value of service rendered by the company to its customers.

Interest is recognized using time proportion method based on the rates implicit in the transaction. Interest income is included under the "Other Income" in the statement of Profit and loss.

1.4 Fixed Assets:

Fixed assets are stated at acquisition cost less accumulated depreciation and impairment if any. Direct costs are capitalized until fixed assets are ready for use. Computer equipment includes bought out software. Advances paid towards acquisition of fixed assets are disclosed as capital advances.

1.5 Depreciation and amortization:

Depreciation on fixed assets is provided on straight line method. The depreciation rates prescribed in Part C of Schedule II to the companies Act, 2013 are considered as the minimum rates. Individual low cost assets (acquired for 5000/= less) are fully depreciated in the year of acquisition.

1.6 Inventories:

Inventories comprises of raw materials, work-in-process and finished goods pertaining to cable division and land bank pertaining to property division are valued at lower of cost and net realizable value.

1.7 Investments:

Trade investments are the investments made to enhance the company's business interests. Investments are either classified as current or long term based on management's intention at the time of purchase. Investments which are readily realize and intended to be held for not more than one year from the date on which investments are made, are classified as current investments.

Current investments are carried at the lower of cost and fair value of each investment individually. Long term investments are carried at cost less provisions recorded to recognize any decline, other than temporary, in the carrying value of each investment.

On disposal of an investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss.

1.8 Employee Benefits:

All employee benefits payable within twelve months of rendering the service are classified as short term employee benefits. Short term employee benefits in the nature of salary, wages, bonus, leave encashment and the expected cost of ex-gratia are recognized and accounted for on accrual basis in the period in which the employee renders the related service.

Provident fund and employees state insurance scheme is a defined contribution plan, each eligible employee and the company makes equal contributions at a percentage on the basic salary specified under the employee's provident fund and miscellaneous provision Act,1952 and employees state insurance act,1948 respectively. The company's contributions are charged to the profit and loss account in the year when the contributions to the respective funds are due. The company has no further obligations under the plan beyond its periodic contributions.

1.9 Borrowing costs:

Borrowing costs are recognized as an expense in the period in which they are included.

1.10 Taxation:

Tax expenses comprise current tax. Current income tax measured at the amount expected to be paid to the tax authorities in accordance with the income tax act, 1961. A provision is made for income tax annually based on the tax liability computed after considering tax allowances and exemptions. The tax rates and laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Deferred income taxes reflects the impact of timing differences between taxable income and accounting income originating during the current year and reversal of timing differences for earlier years. Deferred tax on timing differences between taxable income and accounting income is accounted for, using the tax laws enacted or substantially enacted as on the balance sheet date.

Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are recognized for all deductible timing only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

1.11 Cash and cash equivalents:

Cash and cash equivalents comprise cash and cash on deposit with banks. The company considers all highly liquid investments with a remaining maturity at the date of purchase of three months or less and that are readily convertible to known amounts of cash to be cash equivalents.

1.12 Cash flow statement:

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non cash nature, any deferrals or accruals of past of future operating cash receipts or payments and items of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the company are segregated.

1.13 Provisions:

Provisions are recognized when the company has a present obligation, as a result of past events, for which it is portable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made for the amount of obligation. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

1.14 Segment Reporting:

The Company is engaged in the business of manufacture of Cables and Property development / real estate activities. The Company has no reportable geographical segments. The company has complied in accordance with Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

1.15 Earnings per share:

Basic earnings per share are computed by dividing the net profit after tax by the weighted average number of equity shares outstanding during the period. For the purposes of calculating diluted earnings per share, the net profit 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.

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Mar 31, 2014

1.1 Basis of preparation of financial statements:

The financial statements of the company are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historic convention on the accrual basis except for certain financial instruments which are measured at fair values. The company has prepared these financial statements to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standard) Rules 2006 (as amended) the relevant provisions of the Companies Act 1956.Accounting policies adopted in the preparation of financial statements are consistent with those of previous year.

1.2 Use of estimates:

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and reported amounts of income and expenses during the period.

Estimates are based on the current events and actions and the actual results could differ from those estimates from period to period. Appropriate changes in estimates are made as the management becomes aware of changes in circumstances surrounding the estimates. Changes in the estimates are reflected in the financial statements in the period in which changes are made and if material , their effects are disclosed in the notes to the financial statements.

The management periodically assets using external and internal sources whether there is an indication that an asset may be impaired. An impairment loss is recognized wherever the carrying value of an asset exceeds its recoverable amount. The recoverable amount is higher of the assets net selling price and values in use, which means the present value of future cash flows expected to arise from the continuing use of the assets and its eventual disposal. An impairment loss for an asset other than goodwill is reversed if, and only if, the reversal can be related objectively to an event occurring after the impairment loss was recognized. The carrying amount of an asset other than good will is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization or depreciation) had no impairment loss been recognized for the asset in prior years.

1.3 Revenue Recognition:

The company follows the mercantile system of accounting and recognizes income on accrual basis, in accordance with the requirements of the companies Act,1956.

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. For same of the services rendered, the company collects service tax on behalf of the government and therefore, it is not an economic benefit flowing to the company hence it is excluded from revenue.

Income from operations comprises of income from the following heads mainly freight forwarding, customs clearance, logistics and support services, warehousing etc., representing the gross value of service rendered by the company to its customers.

Interest is recognized using time proportion method based on the rates implicit in the transaction. Interest income is included under the "Other Income" in the statement of Profit and loss.

1.4 Fixed Assets:

Fixed assets are stated at acquisition cost less accumulated depreciation and impairment if any. Direct costs are capitalized until fixed assets are ready for use. Computer equipment includes bought out software.

Advances paid towards acquisition of fixed assets are disclosed as capital advances.

1.5 Depreciation and amortization:

Depreciation o fixed assets is provided on straight line method. The depreciation rates prescribed in Schedule XIV to the companies Act, 1956 are considered as the minimum rates. Depreciation on additions to fixed assets has been calculated on pro-rata basis. Individual low cost assets (acquired for 5000/= less) are fully depreciated in the year of acquisition.

1.6 Inventories:

Inventories comprises of raw materials, work-in-process and finished goods pertaining to cable division and land bank pertaining to property division are valued at lower of cost and net realizable value.

1.7 Investments:

Trade investments are the investments made to enhance the company''s business interests. Investments are either classified as current or long term based on managements intention at the time of purchase. Investments which are readily realize and intended to be held for not more than one year from the date on which investments are made, are classified as current investments.

Current investments are carried at the lower of cost and fair value of each investment individually. Long term investments are carried at cost less provisions recorded to recognize any decline, other than temporary, in the carrying value of each investment.

On disposal of an investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss.

1.8 Employee Benefits:

All employee benefits payable within twelve months of rendering the service are classified as short term employee benefits. Short term employee benefits in the nature of salary, wages, bonus, leave encashment and the expected cost of ex-gratia are recognized and accounted for on accrual basis in the period in which the employee renders the related service.

Provident fund and employees state insurance scheme is a defined contribution plan, each eligible employee and the company makes equal contributions at a percentage on the basic salary specified under the employee''s provident fund and miscellaneous provision Act,1952 and employees state insurance act,1948 respectively. The company''s contributions are charged to the profit and loss account in the year when the contributions to the respective funds are due. The company has no further obligations under the plan beyond its periodic contributions.

1.9 Borrowing costs:

Borrowing costs are recognized as an expense in the period in which they are included. 1.10Taxation:

Tax expenses comprise current tax. Current income tax measured at the amount expected to be paid to the tax authorities in accordance with the income tax act,1961. A provision is made for income tax annually based on the tax liability computed after considering tax allowances and exemptions. The tax rates and laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Deferred income taxes reflects the impact of timing differences between taxable income and accounting income originating during the current year and reversal of timing differences for earlier years. Deferred tax on timing differences between taxable income and accounting income is accounted for, using the tax laws enacted or substantially enacted as on the balance sheet date.

Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are recognized for all deductible timing only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

1.11 Cash and cash equivalents:

Cash and cash equivalents comprise cash and cash on deposit with banks. The company considers all highly liquid investments with a remaining maturity at the date of purchase of three months or less and that are readily convertible to known amounts of cash to be cash equivalents.

1.12 Cash flow statement:

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non cash nature, any deferrals or accruals of past of future operating cash receipts or payments and items of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the company are segregated.

1.13 Provisions:

Provisions are recognized when the company has a present obligation, as a result of past events, for which it is portable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made for the amount of obligation. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

1.14 Segment Reporting:

The Company is engaged in the business of manufacture of Cables and Property development / real estate activities. The Company has no reportable geographical segments. The company has complied in accordance with Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

1.15 Earnings per share:

Basic earnings per share are computed by dividing the net profit after tax by the weighted average number of equity shares outstanding during the period. For the purposes of calculating diluted earnings per share, the net profit 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.

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Mar 31, 2012

1.1 Basis of preparation of financial statements:

The financial statements of the company are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historic convention on the accrual basis except for certain financial instruments which are measured at fair values. The company has prepared these financial statements to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standard) Rules 2006 (as amended) the relevant provisions of the Companies Act 1956.Accounting policies adopted in the preparation of financial statements are consistent with those of previous year.

1.2 Use of estimates:

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and reported amounts of income and expenses during the period.

Estimates are based on the current events and actions and the actual results could differ from those estimates from period to period. Appropriate changes in estimates are made as the management becomes aware of changes in circumstances surrounding the estimates. Changes in the estimates are reflected in the financial statements in the period in which changes are made and if material , their effects are disclosed in the notes to the financial statements.

The management periodically assets using external and internal sources whether there is an indication that an asset may be impaired. An impairment loss is recognized wherever the carrying value of an asset exceeds its recoverable amount. The recoverable amount is higher of the assets net selling price and values in use, which means the present value of future cash flows expected to arise from the continuing use of the assets and its eventual disposal. An impairment loss for an asset other than goodwill is reversed if, and only if, the reversal can be related objectively to an event occurring after the impairment loss was recognized. The carrying amount of an asset other than good will is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization or depreciation) had no impairment loss been recognized for the asset in prior years.

1.3 Revenue Recognition:

The company follows the mercantile system of accounting and recognizes income on accrual basis, in accordance with the requirements of the companies Act, 1956.

Revenue is recognized to the extent that it is probable that the economic benefits will flow to trie company and the revenue can be readily measured. For same of the services rendered, the company collects service tax on behalf of the government and therefore, it is not an economic benefit flowing to the company hence it is excluded from revenue.

Income from operations comprises of income from the following heads mainly freight forwarding, customs clearance, logistics and support services, warehousing etc., representing the gross value of service rendered by the company to its customers.

Interest is recognized using time proportion method based on the rates implicit in the transaction. Interest income is included under the “Other Income" in the statement of Profit and loss.

1.4 Fixed Assets:

Fixed assets are stated at acquisition cost less accumulated depreciation and impairment if any. Direct costs are capitalized until fixed assets are ready for use. Computer equipment includes bought out software.

Advances paid towards acquisition of fixed assets are disclosed as capital advances.

1.5 Depreciation and amortization:

Depreciation o fixed assets is provided on straight line method. The depreciation rates prescribed in Schedule XIV to the companies Act, 1956 are considered as the mir mum rates. Depreciation on additions to fixed assets has been calculated on pro-rata basis. Individual low cost assets (acquired for 5000/= less) are fully depreciated in the year of acquisition.

1.6 Inventories:

Inventories comprises of raw materials, work-in-process and finished goods pertaining to cable division and land bank pertaining to property division are valued at lower of cost and net realizable value.

1.7 Investments:

Trade investments are the investments made to enhance the company's business interests. Investments are either classified as current or long term based on managements intention at the time of purchase. Investments which are readily realize and intended to be held for not more than one year from the date on which investments are made, are classified as current investments.

Current investments are carried at the lower of cost and fair value of each investment individually. Long term investments are carried at cost less provisions recorded to recognize any decline, other than temporary, in the carrying value of each investment.

On disposal of an investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss.

1.8 Employee Benefits:

All employee benefits payable within twelve months of rendering the service are classified as short term employee benefits. Short term employee benefits in the nature of salary, wages, bonus, leave encashment and the expected cost of ex-gratia are recognized and accounted for on accrual basis in the period in which the employee renders the related service.

Provident fund and employees state insurance scheme is a defined contribution plan, each eligible employee and the company makes equal contributions at a percentage on the basic salary specified under the employee's provident fund and miscellaneous provision Act, 1952 and employees state insurance act,1948 respectively. The company's contributions are charged to the profit and loss account in the year when the contributions to the respective funds are due. The company has no further obligations under the plan beyond its periodic contributions.

1.9 Borrowing costs:

Borrowing costs are recognized as an expense in the period in which they are included.

1.10 Taxation:

Tax expenses comprise current tax. Current income tax measured at the amount expected to be paid to the tax authorities in accordance with the income tax act, 1961. A provision is made for income tax annually based on the tax liability computed after considering tax allowances and exemptions. The tax rates and laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Deferred income taxes reflects the impact of timing differences between taxable income and accounting income originating during the current year and reversal of timing differences for earlier years. Deferred tax on timing differences between taxable income and accounting income is accounted for, using the tax laws enacted or substantially enacted as on the balance sheet date.

Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are recognized for all deductible timing only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

1.11 Cash and cash equivalents:

Cash and cash equivalents comprise cash and cash on deposit with banks. The company considers all highly liquid investments with a remaining maturity at the date of purchase of three months or less and that are readily convertible to known amounts of cash to be cash equivalents.

1.12 Cash flow statement:

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non cash nature, any deferrals or accruals of past of future operating cash receipts or payments and items of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the company are segregated.

1.13 Provisions:

Provisions are recognized when the company has a present obligation, as a result of past events, for which it is portable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made for the amount of obligation. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

1.14 Segment Reporting:

The Company is engaged in the business of manufacture of Cables and Property development / real estate activities. The Company has no reportable geographical segments. The company has complied in accordance with Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

1.15 Earnings per share:

Basic earnings per share are computed by dividing the net profit after tax by the weighted average number of equity shares outstanding during the period. For the purposes of calculating diluted earnings per share, the net profit 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.

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Mar 31, 2011

A BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

(a) The financial statements have been prepared

under the historical cost convention in accordance with generally accepted accounting principles and provisions of the Companies Act, 1956 as adopted by the Company.

(b) The company generally follows mercantile system of accounting and recognises significant items of income and expenditure on accrual basis.

B. FIXED ASSETS AND DEPRECIATION:

(a) Fixed assets are stated at cost.

(b) Depreciation for the year is calculated pro- rata on fixed assets under straight line method in accordance with schedule XIV of the Companies Act, 1956 as amended.

(c') Capital goods purchased during the year are stated at cost of acquisition less duty set-off against excise duty payable as per notification under sub rule VIII of Rule 56 (R') of The Excise Rules.

C. FOREIGN CURRENCY TRANSACTIONS:

Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on the date of transactions.

D. INVESTMENTS

Investments have been stated at cost.

E. INVENTORIES

(a) VALUATION OF INVENTORIES: At purchase price.

F. PRIOR PERIOD EXPENSES

Prior period expenses comprises of Preliminary and pre-operative expenses and good will which are amortised over a period of 5 years. Goodwill is disclosed under Miscellaneous Expenditure to the extent not written off.

G. EVENTS OCCURING AFTER BALANCE SHEET DATE:

Balance outstanding as on 31st March, 2011 against allotment money was Rs.23.88 lakhs. No moneys due on allotment have been collected after the date of Balance Sheet.

H. EMPLOYEE BENEFITS:

Contributions to defined schemes such as Provident Fund, Employees State Insurance schemes are charged as incurred on actual basis.

I. RESEARCH AND DEVELOPMENT

The company does not spend any expenditure towards research and development during the financial year.

J. BORROWING COST:

The company has not charged interest on unsecured loan.no interest has been capitalised during the year.

K. TAXES ON INCOME

Current tax is determined in accordance with the provisions of the Income Tax Act 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.

Deferred tax is accounted for under the liability method, subject to the consideration of prudence for deferred tax assets, at the current rate of tax, on timing differences being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Previous year's figures have been reclassified whereever necessary, to conform to the classification of this year.

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Mar 31, 2010

A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

(a) The financial statements have been prepared under the historical cost convention in accordance with generally accepted accounting principles and provisions of the Companies Act, 1956 as adopted by the Company.

(b) The company generally follows mercantile system of accounting and recognises significant items of income and expenditure on accrual basis.

B. FIXED ASSETS AND DEPRECIATION:

(a) Fixed assets are stated at cost.

(b) Depreciation for the year is calculated pro- rata on fixed assets under straight line method in accordance with schedule XIV of the Companies Act, 1956 as amended.

(c) Capital goods purchased during the year are stated at cost of acquisition less duty set-off against excise duty payable as per notification under sub rule VIM of Rule 56 (R) of The Excise Rules.

C. FOREIGN CURRENCY TRANSACTIONS:

Transactions denominated in foreign currenpies are recorded at the exchange rate prevailing on the date of transactions.

D. INVESTMENTS

Investments have been stated at cost.

E INVENTORIES

(a) VALUATION OF INVENTORIES:

There is no inventories reported and only land purchased for propertity development are kept in stock in trade account and it is valued at purchase cost.

F. PRIOR PERIOD EXPENSES

Prior period expenses comprises of Preliminary and pre-operative expenses and good will which are amortised over a period of 10 years. Goodwill is disclosed under Miscellaneous Expenditure to the extent not written off.

G EVENTS OCCURING AFTER BALANCE SHEET DATE:

Balance outstanding as on 31st March, 2010 against allotment money was Rs.23.88 lakhs. No moneys due on allotment have been collected after the date of Balance Sheet.

H. EMPLOYEE BENEFITS:

Contributions to defined schemes such as Provident Fund, Employees State Insurance schemes are charged as incurred on actual basis.

I. RESEARCH AND DEVELOPMENT

The company does not spend any expenditure towards research and development during the financial year.

J. BORROWING COST:

The company has not charged interest on unsecured loan. No interest has been capitalised during the year.

K. TAXES ON INCOME

Current tax is determined in accordance with the provisions of the Income Tax Act 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.

Deferred tax is accounted for under the liability method, subject to the consideration of prudence for deferred tax assets, at the current rate of tax, on timing differences being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Previous years figures have been reclassified whereever necessary, to conform to the classification of this year.