Jhandewalas Foods Ltd. कंपली की लेखा नीति

Mar 31, 2025

Corporate information

Jhandewalas is FSSAI approved & ISO 22000:2005 certified company committed to international standards of
product quality. The product portfolio includes Ghee, Pooha, Mangodi, Papad, Saffron under brand name Naman''s
and Cow Ghee under brand name Godhenu. Porridge, nachos & pasta under brand name Yumm Yoo. Refined
groundnut oil under brand name Polki.

A. Significant Accounting Policies

1. Basis of accounting: -

These financial statements have been prepared in accordance with the Generally Accepted Accounting
Principles in India (Indian GAAP) including the Accounting Standards notified 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.

2. Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make
judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and
liabilities and the disclosure of contingent liabilities, at the end of the reporting period. Although these
estimates are based on the management''s best knowledge of current events and actions, uncertainty about
these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying
amounts of assets or liabilities in future periods.

3. 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.

• Sale of Goods

Revenue from sale of goods is recognized on transfer of all significant risks and rewards ownership to
the buyer which is normally on dispatch of goods.

• Interest Income

Interest income is recognized on time proportion basis

4. Property, Plant & Equipment :-

Property, Plant & Equipment are stated at their original cost of acquisition including taxes, freight and other
incidental expenses related to acquisition and installation of the concerned assets less depreciation till date.

Company has adopted cost model for all class of items of Property Plant and Equipment.

5. Depreciation :-

Depreciation on cost of fixed assets is provided on straight line method at estimated useful life, with the
estimated useful life as specified in respective schedule of the Companies Act, 2013.

6.Investments

On initial recognition, all investments are measured at cost. The cost comprises purchase price and directly
attributable acquisition charges such as brokerage, fees and duties.

Current investments are carried in the financial statements at lower of cost and fair value determined on an
individual investment basis. Long-term investments are carried at cost.

7. Inventories

Inventories are valued as under:-

1. Inventories : Lower of cost (FIFO/specific cost/Weighted average) or net

realizable value

2. Scrap : At net realizable value.

8. Retirement Benefits:-

Employee benefit in the form of provident fund is a defined contribution scheme and the contributions are
charged to the statement of profit and loss in the year of which the contributions to the respective funds are
due. There are no other obligations other than the contribution payable to the respective authorities. Gratuity
is a defined benefit

obligation and is provided for on the basis of an actuarial valuation on projected unit credit method made at
the end of each financial year. Short term compensated absences are provided for based on estimates. Long
term compensated absences are provided for based on actuarial valuation. The actuarial valuation is done as
per projected unit credit method at the end of each financial year. Actuarial gains/losses are immediately taken
to statement of profit and loss and are not deferred.

No provision for leave encashment has been provided for. The impact of the same on Profit & Loss is not
determined

9. Taxes on Income:-

Provision of tax required to be made in compliance to The Indian Accounting Standards (Ind AS-12) issued by
the Central Government of India under the supervision of the Accounting Standards Board (ASB) of the Institute
of Chartered Accountants of India (ICAI).

We have calculated and accounted for Deferred Tax as per applicable laws for the time being in force. However
current tax expenses need not to be paid because of brought forward losses and the company is opting Section
115BAA of the Income Tax Act, 1961.

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Mar 31, 2024

A. Significant Accounting Policies

1. Basis of accounting: -

These financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) including the Accounting Standards notified 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.

2. Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities, at the end of the reporting period. Although these estimates are based on the management''s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods.

3. 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.

• Sale of Goods

Revenue from sale of goods is recognized on transfer of all significant risks and rewards ownership to the buyer which is normally on dispatch of goods.

• Interest Income

Interest income is recognized on time proportion basis

4. Property, Plant & Equipment :-

Property, Plant & Equipment are stated at their original cost of acquisition including taxes, freight and other incidental expenses related to acquisition and installation of the concerned assets less depreciation till date. Company has adopted cost model for all class of items of Property Plant and Equipment.

5. Depreciation :-

Depreciation on cost of fixed assets is provided on straight line method at estimated useful life, with the estimated useful life as specified in respective schedule of the Companies Act, 2013.

6. Investments :-

On initial recognition, all investments are measured at cost. The cost comprises purchase price and directly attributable acquisition charges such as brokerage, fees and duties.

Current investments are carried in the financial statements at lower of cost and fair value determined on an individual investment basis. Long-term investments are carried at cost.

7. Inventories:-

Inventories are valued as under:-

1. Inventories :Lower of cost(FIFO/specific cost/Weighted average) or net realizable value

2. Scrap : At net realizable value.

8. Retirement Benefits:-

Employee benefit in the form of provident fund is a defined contribution scheme and the contributions are charged to the statement of profit and loss in the year of which the contributions to the respective funds are due. There are no other obligations other than the contribution payable to the respective authorities. Gratuity is a defined benefit obligation and is provided for on the basis of an actuarial valuation on projected unit credit method made at the end of each financial year. Short term compensated absences are provided for based on estimates. Long term compensated absences are provided for based on actuarial valuation. The actuarial valuation is done as per projected unit credit method at the end of each financial year. Actuarial gains/losses are immediately taken to statement of profit and loss and are not deferred. No provision for leave encashment has been provided for. The impact of the same on Profit & Loss is not determined

9. Taxes on Income:-

Provision of tax required to be made in compliance toThe Indian Accounting Standards (Ind AS-12) issued by the Central Government of India under the supervision of the Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI).

We have calculated and accounted for Deferred Tax as per applicable laws for the time being in force. However current tax expenses need not to be paid because of brought forward losses and the company is opting Section 115BAA of the Income Tax Act, 1961.