24.2 SEGMENT REPORTING (AS-17)

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 and expenses have been identified to segments on the basis of their relationship to the operating activities of the segment.

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”.

24.3 POST-EMPLOYMENT BENEFITS (GRATUITY AS-15)

Provident fund is defined Contribution scheme and contributions are charged to profit and loss account of the year when the contributions to the respective funds are due. Other retirement benefits such as Gratuity, leave encashment etc., are recognized on basis of an Actuarial Valuation.

In the opinion of the Board, the assets other than fixed assets and noncurrent investments have a value on realization in the ordinary course of business of at least equal to the amount at which they are stated in the balance sheet.

The variation beyond 25% in some of the financial ratios is due to strong growth in Q4, which significantly increased turnover and receivables. In addition, higher capital was employed to sustain this growth momentum. These changes are aligned with the Company’s expansion and are expected to stabilize going forward.

27. Previous year’s figures have been regrouped wherever necessary to conform to the format of Schedule III and the classification adopted in the current year.

Note Nos.24 to 27 above form an integral part of the Balance Sheet and Statement of Profit & Loss.