The comparison of cost and net realizable value is made on item by item basis. Precision winding being the key to weave fine fabrics, all tapes are wound by new generation inverter controlled winders to produce even bobbins. The Board is pleased to inform you that Industrial relations have continuously been cordial at all levels throughout the year.
Actuarial gains and losses are recognized in the Statement of Profit and Loss as and when incurred. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31,and its profit Analysis of flexituff international ltd its cash flows for the year ended on that date.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
The concept of bulk packaging revolves around environmental aspects apart from reducing the cost of packaging and faster handling.
About 30, processing units, withprocessing machines have led to a manufacturing capacity of 30 MMT per annum in the country. Set up to fulfill the demanding bulk packaging and transporting requirements of a host of industries across the globe, Flexituff has an enviable number of attributes working for its most discerning buyers.
No material discrepancies were noticed on verification between the physical stocks and the book records. Needless to say, Flexituff is fully independent from the vagaries of outsourced material or workmanship.
We use a rolling date range, so you can always look back months from the current date. However, according information and explanation given to us and the records of the Company examined by us, the dues outstanding of income-tax, sales-tax, value added tax, cess and any other statutory dues on account of any dispute, are as follows: The per capita packaging consumption in India is quite low at around 4 kgcompared to countries, like Taiwan and Germany with consumption at 19 kg and 42 kg, respectively.
Flexituff has the largest capacity in India 2nd largest in the World to produce PP woven based products. Nanotechnology Is Expected To Have a Profound Impact on the Packaging Market Nanotechnology, the science of very small materials, has a huge impact on pharmaceutical packaging, as it enables the introduction of innovative and new-generation packaging solutions to the market, thus, driving the growth.
Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
The IPO may give some amount of listing gains. Deferred tax is recognized subject to the consideration of prudence in respect of deferred tax assets, 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.
Although the domestic market growth is still at a slow pace, the converting industry has found export acceptance and nearly ninety percent of production is exported providing the exchequer an excellent FE earning.
In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and risks specific to the asset.
The provisions of sub-section 1 of section of the Act are not applicable to the Company. Exchange difference on such contracts is recognized in the reporting period in which exchange rates change.
Revenue recognition a Sales revenue is recognized when property in the goods with all significant risk and rewards as well as the effective control of goods usually associated with ownership are transferred to the buyer. Cost of work in progress and manufactured finished goods is determined on the moving weighted average basis and comprises direct material, cost of conversion and other costs incurred in bringing these inventories to their present location and condition.
Deferred tax charge or credit reflects the tax effects of timing differences between accounting income and taxable income for the period. Measurement of foreign currency monetary items as on 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.
LimitedMonitor Your Competitors Usage 10 Company Searches Per Day 10 searches per day may be enough if you are just monitoring a few competitors or researching suppliers in a single industry. Other long term benefits Leave encashment - Encashable The company provides for the liability at year end on account of unveiled leave as per the actuarial valuation using the Projected Unit Credit Method.
Revenue from sale of goods Revenue from sale of goods is recognized when the significant risks and rewards of ownership of the goods are transferred to the buyer and are recorded net of trade discounts, rebates, Sales Tax, Value Added Tax and gross of Excise Duty.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements. When parts of an item of tangible fixed assets have different useful lives, they are accounted for as separate items major components of fixed asset.
Flexituff Ventures International Ltd.-FLEXITUFF, BSE Latest news, stock scores, research reports and price movements. See fundamentals, technicals, peer comparison, shareholding change Flexituff Ventures International Ltd. Live Stock Price, Analysis and Scores, Ratings, Future Prospects, Financials and News.
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