F. Provisions and contingencies
A provision is recognized when the Company has a present obligation as a result of past events and it is probable that
an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made.
Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the
best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet
date and adjusted to reflect the current best estimates.
The Company creates a provision when there is a present obligation as a result of past event that probably requires
and outflows of resources and a reliable estimate can be made of the amount of obligation. A disclosure of contingent
liability is made when there is possible obligation or a present obligation that will probably not require outflow of
resources or where a reliable estimate of obligation cannot be made.
G. Taxes on income
Income tax comprises current and deferred income tax. Income tax expense is recognized directly in equity or in other
comprehensive income. Provision for Current Tax is made after taking into consideration benefits admissible under the
provisions of Income Tax Act, 1961.
H. 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.
I. Cash Flow Statements
Cash Flow Statement has been prepared in accordance with Accounting Standard 3 issued by Institute of Chartered
Accountants of India.
J. Segment Reporting
The Company operates in a single segment and there are no separate reportable segments as defined in Accounting
Standard, AS-17.
Note: "Previous Year's figure have been regrouped rearranged wherever considered necessary"
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