Significant accounting policies of five major indian companies

BookpreparedbyCA Raju S Narayananwhocan be contactedat
rajusnarayanan@financialconsultantindelhi.com
SIGNIFICANTACCOUNTING POLICIESOFFIVE MAJOR INDIAN COMPANIES
BY
CA RAJU S NARAYANAN

TABLE OF CONTENTS:
SIGNIFICANTACCOUNTINGPOLICIESOF BHEL ………… Page 3
SIGNIFICANTACCOUNTINGPOLICIESOFCIPLA ……….Page 17
SIGNIFICANTACCOUNTINGPOLICIESOFDLF ……….. Page 28
SIGNIFICANTACCOUNTINGPOLICIESOFINFOSYS ……….Page 50
SIGNIFICANTACCOUNTINGPOLICIESOFTATA MOTORS ……. Page 58

SIGNIFICANTACCOUNTING POLICIESOFBHEL:
SignificantAccounting PoliciesofStandalone Company
1 Basis of preparation ofFinancial Statements
The financial statementshave beenpreparedasof a goingconcern onhistorical costconventionand
on accrual methodof accountinginaccordance withthe generallyacceptedaccountingprinciples
and the provisionsof the CompaniesAct,1956 as adoptedconsistentlybythe Company.
2 FixedAssets
Fixedassets(otherthanlandacquiredfree fromState Government) are carriedatthe cost of
acquisitionorconstructionorbookvalue lessaccumulateddepreciation.
Cost includesvalueof internal transfersfor capital works,takenatactual / estimatedfactorycostor
marketprice,whicheverislower.Effectof extraordinaryeventssuchasdevaluation/revaluationin
respectof longterm liabilities/loansutilisedforacquisitionof fixedassetsisaddedto /reduced
fromthe cost.
Land acquiredfree of costfrom the State GovernmentisvaluedatRe 1/- exceptforthat acquired
after16th July1969, in whichcase the same isvaluedatthe acquisitionprice of the State
Governmentconcerned,bycorresponding credittocapital reserve.
3 Leases
Finance Lease
A) (i) AssetsGivenonLease Priorto1st April 2001
Assetsmanufacturedandgivenonfinance leaseare capitalisedatthe normal sale price/fair
value/contractedprice andtreatedassales.
Depreciationonthe same ischargedat the rate applicable tosimilartype of fixedassetsasper
AccountingPolicyon‘Depreciation’.Againstlease rentals,matchingcharge ismade throughLease
EqualisationAccount.
Finance income isrecognisedoverthe lease period.
(ii) AssetsGivenonLease onorafter1st April 2001
Assetsmanufacturedandgivenonfinance leaseare recognisedassalesatnormal sale price / fair
value /NPV.
Finance income isrecognisedoverthe lease period.
Initial directcostsare expensedatthe commencementof lease.
B) AssetsTakenonLease on or after1st
April 2001
Assetstakenonlease are capitalisedatfairvalue /NPV /contracted price.

AccountingPolicyon‘Depreciation’.
If the lease assetsare returnable tothe lessoronexpiryof lease period,the same isdepreciated
overitsuseful life orlease period,whicheverisshorter.
Lease paymentsmade are apportionedbetweenfinance chargesandreductionof outstanding
liabilityinrelationtoassetstakenonlease.
OperatingLease
A) AssetsGivenonLease:
Assetsmanufacturedandgivenonoperatinglease are capitalised.Leaseincome arisingtherefromis
recognisedasincome overthe lease period.
B) AssetsTakenonLease:
Lease paymentsmade forassetstakenonoperatinglease are recognisedasexpenseoverthe lease
period.
4 Intangible Assets
A) Intangible assetsare capitalisedatcostif
a. it isprobable thatthe future economicbenefitsthatare attributable tothe assetwill flowtothe
company,and
b. the companywill have control overthe assets,and
c. the cost of these assetscanbe measuredreliablyandismore thanRs. 10,000/-. Intangible assets
are amortisedovertheirestimatedusefullivesnotexceedingthree yearsincase of software andnot
exceedingtenyearsincase of otherson a straightline pro-ratamonthlybasis.
B) a. Expenditureonresearchincludingthe expenditureduringthe researchphase of Research&
DevelopmentProjectsischargedtostatementof profitandlossaccount inthe year of incurrence.
b. ExpenditureincurredonDevelopmentincludingthe expenditure duringthe developmentphaseof
Research& DevelopmentProjectmeetingthe criteriaasperAccountingStandardonIntangible
Assets,istreatedasintangible asset.
c. Fixedassetsacquiredforpurposesof researchanddevelopmentare capitalised.
5 Borrowing Costs
Borrowingcoststhat are attributable tothe manufacture,acquisitionorconstructionof qualifying
assets,are includedaspart of the costof such assets.
A qualifyingassetisone thatnecessarilytakesmore thantwelve monthstogetreadyforintended
use or sale.
Otherborrowingcostsare recognisedasexpense inthe periodinwhichtheyare incurred.

6 Depreciation
(i) Depreciationonfixedassets(otherthanthose usedabroadundercontract) ischargedupto the
total cost of the assetson straight-line methodasperthe ratesprescribedinSchedule XIV of the
CompaniesAct,1956, exceptwhere depreciationischargedatratesdeterminedonthe basisof the
technicallyassessedestimateduseful livesshownhereunder:
Single Shift Double Shift Triple Shift
General Plant&
Machinery
8% 12% 16%
Automatic/Semi-
AutomaticMachines
10% 15% 20%
ErectionEquipment,
Capital Tools& Tackles
20%
TownshipBuildings
– SecondClass
– ThirdClass
2.5%
3.5%
RailwaySidings 8%
Locomotives&
Wagons
8%
Electrical Installations 8%
Office &Other
Equipments
8%
Drainage,Sewerage &
Water supply
3.34%
ElectronicData
ProcessingEquipment
20%
In respectof additionsto/deductionsfromthe fixedassets,depreciationischargedonprorata
monthlybasis.
(ii) Fixedassetsusedoutside Indiapursuanttolongtermcontractsare depreciatedoverthe duration
of the initial contract.
(iii) FixedassetscostingRs.10,000/- or lessandthose whose writtendownvalue asatthe beginning
of the yearis Rs.10,000/- or less,are depreciatedfully.Insofar as townshipbuildingsare
concerned,the costper tenementisthe basisforthe limitof Rs.10,000/-.
(iv) Aterection/projectsites:The costof roads, bridgesandculvertsisfullyamortizedoverthe
tenure of the contract, while sheds,railwaysidings,electrical installationsandothersimilarenabling
works(otherthanpurelytemporaryerections,woodenstructures) are sodepreciatedafterretaining
10% as residual value.
(v) PurelyTemporaryErectionsuchaswoodenstructuresare fullydepreciatedinthe yearof
construction.
(vi) LeaseholdLandandBuildingsare amortisedoverthe periodof lease.Buildingsconstructedon
landtakenon lease are depreciatedovertheiruseful life orthe lease period,whicheverisearlier.

7 Investments
(i) Long–terminvestmentsare carriedatcost.
Decline,otherthantemporary,inthe value of suchinvestments,isrecognisedandprovidedfor.
(ii) Currentinvestmentsare carriedat costor quoted/fairvalue whicheverislower.
Unquotedcurrentinvestmentsare carriedatcost.
(iii) The costof investmentincludesacquisitionchargessuchas brokerage,feesandduties.Any
reductioninthe carryingamount& anyreversalsof suchreductionsare chargedor credited tothe
Statementof Profit&Loss.
8 InventoryValuation
(i) Inventoryisvaluedatactual/estimatedcostornet realisablevalue,whicheverislower.
(ii) FinishedgoodsinPlantandworkinprogressinvolvingHydroandThermal setsincludinggas
basedpowerplants,boilers,boilerauxiliaries,compressorsandindustrial turbosetsare valuedat
actual/estimatedfactorycostor at 97.5% of the realisablevalue,whicheverislower.
(iii) Inrespectof valuationof finishedgoodsinplantandwork-in-progress,costmeansfactorycost;
actual/estimatedfactorycostincludesexcise dutypayable onmanufacturedgoods.
(iv) Inrespectof raw material,components,loose tools,storesandsparescostmeansweighted
average cost.
(v) (a) For Constructioncontractsenteredintoonor after01.04.2003:
Where currentestimatesof costand sellingprice of acontract indicatesloss,the anticipatedlossin
respectof such contract isrecognisedimmediatelyirrespective of whetherornotwork has
commenced.
b) For all other contracts:
Where currentestimatesof costand sellingprice of anindividuallyidentifiedprojectformingpartof
a contract indicatesloss,the anticipatedlossinrespectof suchprojectonwhichthe work had
commenced,isrecognised.
c) In arrivingat the anticipatedloss,total income includingincentivesonexports/deemedexportsis
takenintoconsideration.
(vi) The componentsandothermaterialspurchased/manufacturedagainstproductionordersbut
declaredsurplusare chargedoff to revenue retainingresidualvalue basedontechnical estimates.
9 Revenue Recognition
Salesare recordedbasedonsignificantrisks andrewardsof ownershipbeingtransferredinfavourof
the customer.Salesinclude goodsdispatchedtocustomersbypartial shipment.
A. Forconstructioncontracts enteredintoonorafter 01.04.2003 :

Revenue isrecognizedonpercentage completionmethodbasedonthe percentage of actual cost
incurreduptothe reportingdate to the total estimatedcostof the contract.
B. For all othercontracts
(i) Recognitionof salesrevenueinrespectof longproductioncycle items(HydroandThermal sets
includinggas-basedpowerplants,boilers,boilerauxiliaries,compressorsandindustrial turbosets) is
made on technical estimates.Whenthe aggregate valueof shipmentsrepresents30% or more of the
realizable value,theyare consideredat97.5% of the realizable valueorinitsabsence,quotedprice.
Otherwise,theyare consideredatactual/estimatedfactorycostor 97.5% of the realizable value,
whicheverislower.The balance 2.5%is recognizedasrevenueoncompletionof suppliesunderthe
contract.
(ii) Income fromerectionandprojectmanagementservicesisrecognizedonworkdone basedon:
Percentage of completion;or
The intrinsicvalue,reckonedat97.5% of contract value,the balance 2.5% is recognizedasincome
whenthe contract iscompleted.
(iii) Income fromengineeringservicesrenderedisrecognizedatrealizable value basedon
percentage of workcompleted.
(iv) Income fromsupply/erectionof non-BHELequipment/systemsandcivil worksisrecognized
basedon dispatchestocustomer/workdone atprojectsite.
10 Accounting for ForeignCurrency Transactions
Transactionsinforeigncurrenciesare recordedatthe exchange ratesprevailingonthe date of the
transaction.Foreigncurrencymonetaryassetsandliabilitiesare translatedatyearendexchange
rates.Exchange difference arisingonsettlementof transactionsandtranslationof monetaryitems
are recognizedasincome orexpense inthe yearinwhichtheyarise.
11 Translation of Financial Statements ofIntegral
ForeignOperations
(i) Itemsof income andexpenditure are translatedataverage rate except depreciation,whichis
convertedatthe rates adoptedforthe correspondingfixedassets.
(ii) Monetaryitemsare translatedatthe closingrate;non-monetaryitemscarriedathistorical cost
are translatedatthe rates inforce on the date of the transaction;non-monetaryitemscarriedatfair
value are translatedat exchange ratesthatexistedwhenthe value weredetermined.
(iii) All translationvariancesare takentoProfit& LossAccount.

12 Employee Benefits
ProvidentFundandEmployees’FamilyPensionScheme contributionsare accountedforonaccrual
basis.LiabilityforEarnedLeave,Half PayLeave,Gratuity,Travel claimsonretirementandPost
RetirementMedical Benefitsare accountedforinaccordance withactuarial valuation.
CompensationunderVoluntaryRetirementScheme ischargedoff inthe yearof incurrence ona pro-
rata monthlybasis.
13 Claims by/against the Company
(i) Claimsforliquidateddamagesagainstthe Companyare recognisedinaccountsbasedon
management’sassessmentof the probable outcome withreference tothe available information
supplementedbyexperience of similartransactions.
(ii) Claimsforexportincentives/dutydrawbacks/duty refundsandinsurance claimsetc.are taken
intoaccount on accrual.
(iii) Amountsdue inrespectof price escalationclaimsand/orvariationsincontractworkare
recognisedasrevenue onlywhenthere are conditionsinthe contractsforsuch claimsor variations
and/orevidence of the acceptabilityof the same fromcustomers.
However,escalationisrestrictedtointrinsicvalue.
14 Provisionfor Warranties
(i) Forconstructioncontracts enteredintoonorafter 01.04.2003:
The company provideswarrantycostat 2.5% of the revenue progressivelyasandwhenitrecognises
the revenue andmaintainthe same throughthe warrantyperiod.
(ii) Forall othercontracts:
Provisionforcontractual obligationsinrespectof contractsunderwarrantyat the year endis
maintainedat2.5% of the value of contract.In the case of contracts for supplyof more than a single
product2.5% of the value of eachcompletedproductisprovided.
(iii) Warrantyclaims/expensesonrectificationworkare accountedforagainstnatural headsas and
whenincurredandchargedto provisionsinthe yearend.
15 GovernmentGrants
GovernmentGrantsare accountedwhenthere isreasonablecertaintyof theirrealisation.
Grants relatedtofixeddepreciable assetsare adjustedagainstthe grosscostof the relevantassets
while those relatedtonon-depreciableassetsare creditedtocapital reserve.Grantsrelatedto
revenue,unlessreceivedascompensationforexpenses/losses,are recognisedasrevenueoverthe
periodtowhichthese are relatedonthe principle of matchingcoststorevenue.
Grants inthe formof non-monetaryassetsare accountedforat the acquisitioncost,orat nominal
value if receivedfree.

SignificantAccounting Policies(ConsolidatedFinancial Statement)
1 Basis of preparation ofFinancial Statements
The financial statementshave beenpreparedasof a goingconcern onhistorical costconventionand
on accrual methodof accountinginaccordance withthe generallyacceptedaccountingprinciples
and the provisionsof the CompaniesAct,1956 as adoptedconsistentlybythe Company.
2 FixedAssets
(a) Fixedassets(otherthanlandacquiredfree fromState Government) are carriedatthe cost of
acquisitionorconstructionorbookvalue lessaccumulateddepreciation.
(b) Costincludesvalue of internal transfersforcapital works,takenatactual / estimatedfactorycost
or marketprice,whicheverislower.Effectof extraordinaryeventssuchasdevaluation/revaluation
inrespectof longtermliabilities/loansutilizedforacquisitionof fixedassetsisaddedto/reduced
fromthe cost.
(c) Land acquiredfree of cost fromthe State GovernmentisvaluedatRs.1/- exceptforthatacquired
after16th July1969, in whichcase the same isvaluedatthe acquisitionprice of the State
Governmentconcerned,bycorrespondingcredittocapital reserve.
3 Leases
Finance Lease
A) i) AssetsGivenonLease Priorto 1st April 2001
Assetsmanufacturedandgivenonfinance leaseare capitalizedatthe normal sale price/fair
value/contractedprice andtreatedassales.
AccountingPolicyon‘Depreciation’.Againstlease rentals,matchingcharge ismade throughLease
EqualizationAccount.
Finance income isrecognizedoverthe lease period.
(ii) AssetsGiven onLease onorafter1st April 2001
Assetsmanufacturedandgivenonfinance leaseare recognizedassalesatnormal sale price / fair
value /NPV.
Finance income isrecognizedoverthe lease period.
Initial directcostsare expensedatthe commencement of lease.
B) AssetsTakenonLease on or after1st April 2001
Assetstakenonlease are capitalizedatfairvalue /NPV/contractedprice.
AccountingPolicyon‘Depreciation’.If the lease assetsare returnabletothe lesseronexpiryof

lease period,the same isdepreciatedoveritsuseful life orlease period,whicheverisshorter.
Lease paymentsmade are apportionedbetweenfinance chargesandreductionof outstanding
liabilityinrelationtoassetstakenonlease.
OperatingLease
AssetsGivenonLease:
Assetsmanufacturedandgivenonoperatinglease are capitalized.Lease income arisingtherefrom
isrecognizedasincome overthe lease period.
AssetsTakenonLease:
Lease paymentsmade forassetstakenonoperatinglease are recognizedasexpenseoverthe lease
period.
4 Intangible Assets
A. Intangible assetsare capitalizedatcostif
a. It isprobable thatthe future economicbenefitsthatare attributable tothe assetwill flow tothe
company,and
b. The companywill have control overthe assets,and
c. The cost of these assets canbe measuredreliablyandismore thanR 10,000/-.
Intangible assetsare amortizedovertheirestimatedusefullivesnotexceedingthree yearsincase of
software andnot exceedingtenyearsincase of otherson a straightline pro-ratamonthlybasis.
B. a. Expenditure onresearchincludingthe expenditure duringthe researchphase of Research&
DevelopmentProjectsischargedtoprofitand lossaccountin the yearof incurrence.
b. ExpenditureincurredonDevelopmentincludingthe expenditure during the developmentphaseof
Research& DevelopmentProjectmeetingthe criteriaasperAccountingStandardonIntangible
Assets,istreatedasintangible asset.
c. Fixedassetsacquiredforpurposesof researchanddevelopmentare capitalized.
5 Borrowing Costs
Borrowingcoststhat are attributable tothe manufacture,acquisitionorconstructionof qualifying
assets,are includedaspart of the costof such assets.
A qualifyingassetisone thatnecessarilytakesmore thantwelve monthstogetreadyforintended
use or sale.
Otherborrowingcostsare recognizedasexpense inthe periodinwhichtheyare incurred.

6 Depreciation
(i) Depreciationonfixedassets(otherthanthose usedabroadundercontract) ischargedup to the
total cost of the assetson straight-line methodasperthe ratesprescribedinSchedule XIV of the
CompaniesAct,1956, exceptwhere depreciationischargedatratesdeterminedonthe basisof the
technicallyassessedestimateduseful livesshownhereunder:
Single Shift Double Shift Triple Shift
General Plant&
Machinery
8% 12% 16%
Automatic/Semi-
AutomaticMachines
10% 15% 20%
ErectionEquipment,
Capital Tools& Tackles
20%
TownshipBuildings
– SecondClass
– ThirdClass
2.5%
3.5%
RailwaySidings 8%
Locomotives &
Wagons
8%
Electrical Installations 8%
Office &Other
Equipments
8%
Drainage,Sewerage &
Water supply
3.34%
ElectronicData
ProcessingEquipment
20%
In respectof additionsto/deductionsfromthe fixedassets,depreciationischargedonpro-rata
monthlybasis.
(ii) Fixedassetsusedoutside Indiapursuanttolongtermcontractsare depreciatedoverthe duration
of the initial contract.
(iii) FixedassetscostingR10,000/- or lessandthose whose writtendownvalue asatthe beginningof
the year isR10,000/- or less,are depreciatedfully.Insofaras townshipbuildingsare concerned,the
cost pertenementisthe basisforthe limitof Rs.10,000/-.
(iv) Aterection/projectsites:The costof roads, bridgesandculvertsisfullyamortizedoverthe
tenure of the contract, while sheds,railwaysidings,electrical installationsandothersimilarenabling
works(otherthanpurelytemporaryerections,woodenstructures) are sodepreciatedafterretaining
10% as residual value.
(v) PurelyTemporaryErectionsuchaswoodenstructuresare fullydepreciatedinthe yearof
construction.
(vi) LeaseholdLandandBuildingsare amortizedoverthe periodof lease. Buildingsconstructedon
landtakenon lease are depreciatedovertheiruseful life orthe lease period,whicheverisearlier.

In the case of BGGTS (50% JV)
Depreciationonfixedassetsisprovidedusingthe straightlinemethodoverthe useful lifeof the
assetsas estimatedbythe management.The ratesof depreciationprescribedinSchedule XIV tothe
CompaniesAct,1956 are consideredthe minimumrates.If the management’sestimateof the useful
life of a fixedassetatthe time of acquisitionof the assetorof the remaininguseful life ona
subsequentreviewisshorterthanthe envisagedinthe aforesaidschedule,depreciationisprovided
at a higherrate basedonthe management’sestimateof the useful life/remaininguseful life.
Pursuantto this policy,depreciationonassetshasbeenprovidedatthe ratesbasedonthe following
useful livesof fixedassetsasestimatedbymanagement.
Assetcategory Estimateduseful life
Plantand machinery 2-15
Electrical Installations 3-10
Civil Structures 5-10
Furniture andfixtures 1-8
Computers 3
Office equipment 3-5
Depreciationiscalculatedonapro-ratabasisfrom / upto the month the assetsare purchased/sold.
Individual assetscostinglessthanR5,000/each are depreciatedinfull inthe yearof purchase.
In the case of RAICHUR POWER CORPORATION LIMITED(46% JV)
Depreciationisprovidedonstraightline method atthe ratesprescribedinthe ElectricitySupplyAct
1948. Inrespectof assetsforwhichratesare not specifiedinthe ElectricitySupplyAct1956,
depreciationisprovidedatthe ratesspecifiedunderscheduleXIV of the CompaniesAct1956.
Assetsare depreciatedtothe extentof 90% of the cost and 10% is retainedasresidual value.
Depreciationonadditionstoassetsisprovidedforthe full yearirrespectiveof the date of addition.
In the case of NTPCBHEL POWER PROJECTSPVT LTD.
Depreciationon fixedassetsischargeduptothe total cost of the assetsona straightline methodas
perthe ratesprescribedinScheduleXIV of the CompaniesAct,1956.
In the case of UDANGUDI POWER CORPORATION LTD.
Depreciationonsome assetsisprovidedonthe straightline methodbasedonuseful life of assetsas
estimatedbymanagement.DepreciationonotherassetsisprovidedonStraightline methodsper
the rates andin the mannerprescribedunderSchedule XIV of the CompaniesAct,1956.

Depreciationforassets purchased/soldduringthe periodisproportionatelycharged.100%
depreciationischargedonassetsacquiredforprice upto Rs. 5000/-, Managementestimatesuseful
life of assetsasfollows
1. TemporaryShed1 Year
2. Computer& Accessories5Years
7 Investments
(i) Long–terminvestmentsare carriedatcost.
Decline,otherthantemporary,inthe value of suchinvestments,isrecognizedandprovidedfor.
(ii) Currentinvestmentsare carriedat costor quoted/fairvalue whicheverislower.Unquoted
currentinvestmentsare carriedatcost.
(iii) The costof investmentincludesacquisitionchargessuchas brokerage,feesandduties.
Anyreductioninthe carryingamount& anyreversalsof suchreductionsare chargedor creditedto
the Profit& Loss Account.
8 InventoryValuation
(i) Inventoryisvaluedatactual/estimatedcostornet realizablevalue,whicheverislower.
(ii) FinishedgoodsinPlantandworkinprogressinvolvingHydroandThermal setsincludinggas
basedpowerplants,boilers,boilerauxiliaries,compressorsandindustrial turbosetsare valuedat
actual/estimatedfactorycostor at 97.5% of the realizablevalue,whicheverislower.
(iii) Inrespectof valuationof finishedgoodsinplantandwork-in-progress,costmeansfactorycost;
actual/estimatedfactorycostincludesexcise dutypayable onmanufacturedgoods.
(iv) Inrespectof raw material,components,loose tools,storesandsparescostmeansweighted
average cost.
(v) a) For Constructioncontractsenteredintoonorafter01.04.2003:
Where currentestimatesof costand sellingprice of acontract indicatesloss,the anticipatedlossin
respectof such contract isrecognizedimmediatelyirrespective of whetherornotwork has
commenced.
b) For all other contracts:Where current estimatesof costandsellingprice of anindividually
identifiedprojectformingpartof a contract indicatesloss,the anticipatedlossinrespectof such
projecton whichthe workhad commenced,isrecognized.
c) In arrivingat the anticipatedloss,total income includingincentivesonexports/deemedexportsis
takenintoconsideration.
(vi) The componentsandothermaterialspurchased/manufacturedagainstproductionordersbut
declaredsurplusare chargedoff to revenue retainingresidualvalue basedontechnical estimates.

Tradedstock isvaluedat the lowerof cost andnet realizablevalue.Costisdeterminedunderthe
first-in-first-outmethod.
9 Revenue Recognition
Salesare recordedbasedonsignificantrisksandrewardsof ownershipbeingtransferredinfavourof
the customer.Salesinclude goodsdispatchedtocustomersbypartial shipment.
A. Forconstructioncontracts enteredintoonorafter 01.04.2003:
Revenue isrecognizedonpercentage completionmethodbasedonthe percentage of actual cost
incurredupto the reportingdate tothe total estimatedcostof the contract.
B. For all othercontracts:
(i) Recognitionof salesrevenueinrespectof longproductioncycle items(HydroandThermal sets
includinggas-basedpowerplants,boilers,boilerauxiliaries,compressorsandindustrial turbosets) is
made on technical estimates.Whenthe aggregate valueof shipmentsrepresents30% or more of the
realizable value,theyare consideredat97.5% of the realizable valueorinitsabsence,quotedprice.
Otherwise,theyare consideredatactual/estimatedfactorycostor 97.5% of the realizable value,
whicheverislower.The balance 2.5%is recognizedasrevenueoncompletionof suppliesunderthe
contract.
(ii) Income fromerectionandprojectmanagementservicesisrecognizedonworkdone basedon:
Percentage of completion;orThe intrinsicvalue,reckonedat97.5% of contract value,the balance
2.5% is recognizedasincome whenthe contractiscompleted.
(iii) Income fromengineeringservicesrenderedisrecognizedatrealizable value basedon
percentage of workcompleted.
(iv) Income fromsupply/erectionof non-BHELequipment/systemsandcivil worksis recognized
basedon dispatchestocustomer/workdone atprojectsite.
10 Accounting for ForeignCurrency Transactions
transaction.Foreigncurrencymonetaryassetsandliabilitiesare translatedatyearendexchange
rates.Exchange difference arisingonsettlementof transactionsandtranslationof monetaryitems
are recognizedasincome orexpense inthe yearinwhichtheyarise.
11 Translation of Financial Statements ofIntegral ForeignOperations
(i) Itemsof income andexpenditure are translatedataverage rate exceptdepreciation,whichis
convertedatthe rates adoptedforthe correspondingfixedassets.
(ii) Monetaryitemsare translatedatthe closingrate;non-monetaryitemscarriedathistorical cost
are translatedatthe rates inforce on the date of the transaction;non-monetaryitemscarriedatfair
value are translatedat exchange ratesthatexistedwhenthe value weredetermined.

(iii) All translationvariancesare takentoProfit& LossAccount.
Forwardcontracts are enteredintotohedge the foreigncurrencyriskof the underlyingoutstanding
at the yearend.The premiumordiscountonall suchcontracts arisingat the inceptionof each
contract is amortisedasexpenseorincome overthe life of the contract.The exchange differences
on sucha forwardcontract isthe difference between(i) the foreigncurrencyamountof the contract
translatedatthe exchange rate onthe reportingdate,orthe settlementdate where the transaction
issettledduringthe periodand(ii) the same foreigncurrencyamounttranslatedatthe latterof the
date of inceptionof the forwardexchange contractorthe last reportingdate. Anyprofitorloss
arisingonsuch cancellationorrenewal of sucha forwardcontract isrecognisedasincome or
expense forthe year.
12 Employee Benefits
ProvidentFundandEmployees’FamilyPensionScheme contributionsare accountedforonaccrual
basis.LiabilityforEarnedLeave,Half PayLeave,Gratuity,Travel claimsonretirementandPost
RetirementMedical Benefitsare accountedforinaccordance withactuarial valuation.
CompensationunderVoluntaryRetirementScheme ischargedoff inthe year of incurrence ona pro-
rata monthlybasis.
13 Claims by /against the Company
(i) Claimsforliquidateddamagesagainstthe Companyare recognizedinaccountsbasedon
management’sassessmentof the probable outcome withreference tothe available information
supplementedbyexperience of similartransactions.
(ii) Claimsforexportincentives/dutydrawbacks/duty refundsandinsurance claimsetc.are taken
intoaccount on accrual.
(iii) Amountsdue inrespectof price escalationclaimsand/orvariationsincontractworkare
recognizedasrevenue onlywhenthere are conditionsinthe contractsforsuch claimsor variations
and/orevidence of the acceptabilityof the same fromcustomers.However,escalationisrestricted
to intrinsicvalue.
14 Provisionfor Warranties
(i) Forconstructioncontracts enteredintoonorafter 01.04.2003:
The company provideswarrantycostat 2.5% of the revenue progressivelyasandwhenitrecognises
the revenue andmaintainthe same throughthe warrantyperiod.
(ii) Forall othercontracts:
Provisionforcontractual obligationsinrespectof contractsunderwarrantyat the year endis
maintainedat2.5% of the value of contract.In the case of contracts for supplyof more than a single
product2.5% of the value of eachcompletedproductisprovided.

(iii) Warrantyclaims/expensesonrectificationworkare accountedforagainstnatural headsas and
whenincurredandchargedto provisionsinthe year end.
15 GovernmentGrants
GovernmentGrantsare accountedwhenthere isreasonablecertaintyof theirrealization.
Grants relatedtofixeddepreciable assetsare adjustedagainstthe grosscostof the relevantassets
while those relatedtonon-depreciableassetsare creditedtocapital reserve.
Grants relatedtorevenue,unlessreceivedascompensationforexpenses/losses,are recognizedas
revenue overthe periodtowhichthese are relatedonthe principle of matchingcoststorevenue.
Grants inthe formof non-monetaryassetsare accountedforat the acquisitioncost,orat nominal
value if receivedfree.

SIGNIFICANTACCOUNTING POLICIESOFCIPLA
SignificantAccounting PoliciesofCiplaStandalone Company
A Basis of Preparation
The financial statementsare preparedinaccordance withgenerallyacceptedaccountingprinciples
inIndia.
The Companyhas preparedthese financial statementstocomplyinall material respectswiththe
AccountingStandardsnotifiedunderthe Companies(AccountingStandards) Rules,2006 issued
undersection211(3C) of the CompaniesAct,1956. The financial statementshave beenpreparedon
an accrual basisand underthe historical costconvention.The accountingpoliciesadoptedin
preparationof the financial statementsare consistentwiththose of the previousyear.Duringthe
financial yearended31stMarch 2012 the revisedSchedule VInotifiedunderthe CompaniesAct,
1956 has become applicabletothe Company,forpreparationandpresentationof itsfinancial
statements.The Companyhasalsore-classifiedthe previousyearfiguresinaccordance withthe
requirementsapplicableinthe currentyear.
B Use of Estimates
The preparationof financial statementsrequiresthe Managementof the Companytomake
estimatesandassumptionsthataffectthe reportedbalance of assetsandliabilities,revenue and
expensesanddisclosuresrelatingtocontingentliabilities.The Managementbelievesthatthe
estimatesusedinthe preparationof the financial statementsare prudentandreasonable.Future
resultscoulddifferfromthese estimates.Anyrevisionof accountingestimatesisrecognised
prospectivelyinthe currentandfuture periods.
C. FixedAssets
Fixedassetsare statedat costof acquisition(netof recoverable taxesandGovernmentgrantsand
othersubsidies,whereveravailed) orconstructionorotheramountssubstitutedforhistorical costs
on revaluationlessaccumulateddepreciation.Where several fixedassetsare acquiredfor
consolidatedprice,the considerationisapportionedtofixedassetsonfairvalue basis.
D Depreciation
Depreciationonfixedassetsisprovidedonthe StraightLine Methodat the ratesand inthe manner
prescribedunderSchedule XIV of the CompaniesAct,1956.
All individual itemsof fixedassets,where the actual costdoesnotexceed`5000 have beenwritten
off entirelyinthe yearof acquisition.
Cost of leaseholdlandincludingpremiumisamortisedoverthe primary periodof lease.

E Valuation of Inventories
Raw materialsandpackingmaterialsare valuedatlowerof costor net realisablevalue after
providingforobsolescence,if any.However,these itemsare consideredtobe realisable atcostif the
finishedproducts,inwhichtheywill be used,are expectedtobe soldat or above cost.
Work-in-processandfinishedgoodsare valuedatlowerof costor netrealisable value.Finished
goodsand work-in-processinclude costsof raw material,labour,conversioncostsandothercosts
incurredinbringingthe inventoriestotheirpresentlocationandcondition.
Cost of finishedgoodsincludesexcise duty,whereverapplicable.
Cost of inventoriesiscomputedonweightedaveragebasis.
F Investments
Long terminvestmentsare statedatcost,lessprovisionfordiminution(otherthantemporary) in
value.
Currentinvestmentsare statedatlowerof cost or fair value.
G ForeignExchange Transactions
Transactionsinforeigncurrenciesare recordedatthe exchange rates prevailingonthe date of the
transaction.
Foreigncurrencymonetaryassets& liabilitiesandforwardcontractsare restatedatyear end
exchange rates.Exchange differencesarisingonthe settlementof foreigncurrencymonetaryitems
or on reportingCompany’sforeigncurrencymonetaryitemsatratesdifferentfromthose atwhich
theywere initiallyrecordedduringthe yearorreportedinthe previousfinancial statements,are
recognisedasincome orexpense inthe yearinwhichtheyarise.
Non-monetaryforeigncurrencyitemsare carriedat the ratesprevailingonthe date of the
transaction.
In respectof forwardcontracts,the premiumordiscountonthese contractsis recognisedasincome
or expenditure overthe periodof the contract.Anyprofitorlossarisingoncancellationorrenewal
of suchcontracts is recognisedasincome orexpenseof the year.
Foreignbranchesare identifiedasintegral foreignoperations.Alltransactionsare transferredat
ratesprevailingonthe date of transaction.Monetaryassetsandliabilitiesof the branchare restated
at the yearendrates.
H Provisions,ContingentLiabilitiesandContingentAssets
A provisionisrecognisedwhenthe Companyhasapresentobligationasaresultof a pastevent,itis
probable thatan outflowof resourceswillbe requiredtosettle the obligation,inrespectof whicha
reliable estimatecanbe made.Provisionsare notdiscountedtoitspresentvalue andare
determinedbasedonbestestimate requiredtosettle the obligationatthe Balance Sheetdate.

A disclosure of contingentliabilityismade whenthere isapossibleobligationora presentobligation
that may,but probablywill not,requireanoutflow of resources.Where there isapossible obligation
or a presentobligationinrespectof whichthe likelihoodof outflowof resourcesisremote,no
provisionordisclosure ismade.
Contingentassetsare neitherrecognisednordisclosedinthe financialstatements.
I. Revenue Recognition
Revenue isrecognisedtothe extentthatisprobable thatthe economicbenefitswill flow tothe
Companyandthe revenue canbe reliablymeasured.
Revenue fromsale of goodsisrecognisedwhensignificantrisksandrewardsof ownershipof the
goodshave beenpassedtothe buyer,whichordinarilycoincideswithdespatchof goodsto
customers.Revenuesare recordedatinvoice value,netof salestax,returnsandtrade discounts.
Revenue fromrenderingof servicesare recognisedoncompletionof services.
Benefitsonaccountof entitlementof exportincentivesare recognisedasandwhenthe rightto
receive isestablished.
Technical Know-how/Feesare recognisedasandwhenthe rightto receive suchincome is
establishedaspertermsand conditionsof relevantagreement.
Interestincome isrecognisedontime proportionbasis.
Dividendincomeisrecognisedwhenthe righttoreceive is established.
J Employee Benefits
Liabilityonaccountof short termemployee benefitsisrecognisedonanundiscountedandaccrual
basisduringthe periodwhenthe employeerendersservice/vestingperiodof the benefit.
PostretirementcontributionplanssuchasProvidentFundare chargedtothe Statementof Profit
and Lossfor the year whenthe contributionstothe respective fundsaccrue.
Postretirementbenefitplanssuchasgratuityand leave encashmentare determinedonthe basisof
actuarial valuationmade byan independentactuaryas at the Balance Sheetdate.Actuarial gains
and lossesare recognisedimmediatelyinthe Statementof ProfitandLoss.
K Income Tax
Currentincome tax ismeasuredat the amountexpectedtobe paidto the tax authoritiesin
accordance withthe provisionsof local Income Tax Lawsas applicable tothe financial year.
Deferredincome taxesreflectthe impactof currentyear timingdifferencesbetweentaxable income
and accountingincome of the yearand reversal of timingdifferencesof earlieryears.Deferredtax is
measuredbasedonthe tax rates and the tax lawsenactedor substantivelyenactedatthe Balance
Sheetdate.

The Companyoffsets,ona year-on-yearbasis,the currenttax assetsandliabilities,where ithas a
legallyenforceable rightandwhere itintendstosettlesuchassetsandliabilitiesonanetbasis.
L. Borrowing Costs
Borrowingcostsattributable toacquisitionand/orconstructionof qualifyingassetsare capitalisedas
a part of the cost of such assets,up tothe date such assetsare readyfor theirintendeduse.Other
financing/borrowingcostsare chargedto the Statementof ProfitandLoss.
M Impairment ofAssets
At eachBalance Sheetdate,the Companyassesseswhetherthere isanyindication thatanyasset
may be impaired.If anysuchindicationexists,the carryingvalue of suchassetsisreducedtoits
estimatedrecoverableamountandthe amountof such impairmentlossischargedtothe Statement
of ProfitandLoss.If,at the Balance Sheet date,there isanindicationthata previouslyassessed
impairmentlossnolongerexists,the recoverableamountisreassessedandthe assetisreflectedat
the recoverable amountsubjecttoa maximumof depreciatedhistorical cost.
N Research and Development
Revenue expenditure onResearchandDevelopmentisrecognisedasexpense inthe yearinwhichit
isincurred.
Capital expenditureonResearchandDevelopmentisshownasadditiontoFixedAssets.
O Expenditure on Regulatory Approvals
Expenditure incurredforobtainingregulatoryapprovalsandregistrationof productsforoverseas
marketsischarged torevenue.
P GovernmentGrantsand Subsidies
Capital subsidy/Governmentgrantsare accountedfor where itisreasonablycertain thatthe
ultimate collectionwill be made.
Capital subsidy/Governmentgrantsrelatedtospecificdepreciableassetsare shownasdeduction
fromthe grossvalue of the assetconcernedinarrivingat itsbookvalue.The grant/subsidyisthus
recognisedin the Statementof ProfitandLossoverthe useful lifeof suchdepreciable assetsbyway
of a reduceddepreciationcharge.
Q Leases
Where the Companyisa Lessee
Lease rentalsonassetstakenon operatinglease are recognisedasexpense inthe Statement of
ProfitandLoss on an accrual basisoverthe lease terminaccordance withthe lease agreement.
Where the Companyisa Lessor
Lease rentalsonassetsgivenonoperatinglease are recognisedasincome inthe Statementof Profit
and Losson an accrual basisin accordance withthe lease agreement.

R Earnings PerShare
Basic earningspershare iscalculatedbydividingthe netprofitorlossforthe periodattributable to
equityshareholdersbythe weightedaveragenumberof equitysharesoutstandingduringthe
period.
For the purpose of calculatingdilutedearningspershare,the netprofitattributable toequity
shareholdersandthe weightedaverage numberof sharesoutstandingare adjustedforthe effectof
all dilutive potential equitysharesfromthe exercise of optionsonunissuedshare capital.The
numberof equitysharesisthe aggregate of the weightedaverage numberof EquitySharesandthe
weightedaverage numberof equityshareswhichwouldbe issuedonthe conversionof all the
dilutive potential equitysharesintoequityshares.

SignificantAccounting PoliciesofGroup
A Basis of Preparation
The consolidatedfinancial statementsare preparedunderthe historical costconventiononaccrual
basisinaccordance withthe Companies(AccountingStandards) Rules,2006 issuedundersection
211(3C) of the CompaniesAct,1956. During the financial year ended31stMarch 2012 the revised
Schedule VInotifiedunderthe CompaniesAct,1956 has become applicable tothe Company,for
preparationandpresentationof itsfinancial statements.The Companyhasalsore-classifiedthe
previousyearfiguresinaccordance withthe requirementsapplicableinthe currentyear.
B Use of Estimates
The preparationof financial statementsrequiresthe managementof the Companytomake
estimatesandassumptionsthataffectthe reportedbalance of assetsandliabilities,revenue and
expensesanddisclosuresrelatingtocontingentliabilities.The managementbelievesthatthe
estimatesusedinthe preparationof the financial statementsare prudentandreasonable.Future
resultscoulddifferfromthese estimates.Anyrevisionof accountingestimatesisrecognised
prospectivelyinthe currentandfuture periods.
C PrinciplesofConsolidation
The consolidatedfinancial statementsrelate toCiplaLtd.(the ‘Company’),itssubsidiariesand
associates.The consolidatedfinancial statementshave beenpreparedonthe followingbasis:
a. The financial statementsof the Companyanditssubsidiarieshave beencombinedonaline-by-
line basisbyaddingtogetherthe bookvaluesof like itemsof assets,liabilities,incomeandexpenses,
afterfullyeliminatingintra-groupbalancesandintra-grouptransactionsandresultingunrealised
profitsor losses.
Unrealisedlossesresultingfromintra-grouptransactionsare eliminatedunlesscostcannotbe
recovered.
b. The differencebetweenthe costof investmentinthe subsidiaries,overthe netassetsatthe time
of acquisitionof the sharesinthe subsidiariesisrecognisedinthe financialstatementsas
Goodwill/CapitalReserve asthe case may be.
c. Entitiesinwhichthe Companyhassignificantinfluence butnotacontrollinginterestare
consideredasassociatesandinvestmentthereinare reportedaccordingtothe equitymethodi.e.
the investmentisinitiallyrecordedatcostidentifyinganyGoodwill/Capital Reserve arisingatthe
time of acquisition.The carryingamountof the investmentisadjustedthereafterforthe post
acquisitionchange inthe investor’sshare of netassetsof the associate,basedonthe available
information.The consolidatedStatementof ProfitandLossincludesthe investor’sshare of
Profit/Lossof the operationsof the associate.
d. The financial statementsof the subsidiariesandassociatesusedinconsolidationare drawnupto
the same reportingdate as of the Company.

e.The consolidatedfinancialstatementshave beenpreparedusinguniformaccountingpoliciesfor
like transactionsandothereventsinsimilarcircumstancesandare presentedtothe extentpossible,
inthe same manner,asthe Company’sseparate financial statements.
f.The subsidiariesandassociatesconsideredinthe consolidatedfinancialstatementsare:
Name of the Company Countryof
Incorporation
% ownershipinterest
as at 31st March 2012
Witheffectfrom
Subsidiaries(helddirectly)
CiplaFZE UnitedArabEmirates 100 04/10/2006
GoldencrossPharma
Pvt.Ltd.
India 100 14/05/2010
Cipla(Mauritius) Ltd. Mauritius 100 27/01/2011
MeditabSpecialities
Pvt.Ltd.
India 100 01/10/2010
Subsidiaries(heldindirectly)
Four MPropack Pvt.
Ltd.
India 100 14/05/2010
Cipla(UK) Ltd. UnitedKingdom 100 27/01/2011
Cipla-OzPtyLtd. Australia 100 04/03/2011
STD ChemicalsLtd. UnitedKingdom 100 27/01/2011
Medispray
LaboratoriesPvt.Ltd.
India 100 01/10/2010
SitecLabs Pvt.Ltd. India 100 01/10/2010
MeditabHoldingsLtd. Mauritius 100 01/10/2010
Meditab
PharmaceuticalsSouth
Africa(Pty) Ltd.
SouthAfrica 100 14/01/2011
MeditabSpecialities
NewZealandLtd.
NewZealand 100 21/01/2011
Associates
QualityChemical
IndustriesLtd.
Uganda 36.55 01/10/2010
StempeuticsResearch
Pvt.Ltd.
India 49 01/10/2010
BiomabHoldingLtd. Hong Kong 25 01/09/2011
JiangsuCdymax
PharmaceuticalsCo.
Ltd.
China 48.22 10/02/2012
Notes:
i. On20th February 2012, CiplaLtd.(the Company) throughitssubsidiar y/stepdownsubsidiaries
acquireda whollyownedsubsidiaryCiplaIlaçTicaretAnonimSirketi,Turkey.Itsfirstaccounting
periodshall endon31st December2012. In view of the Management,asthere are no significant
transactionsfromthe date of acquisitiontill31stMarch 2012, otherthan transactionrelatedto
investmentmentionedherein,itsconsolidationisnotconsiderednecessary.The Companythrough
itssubsidiary/stepdownsubsidiarieshasinvested`0.14 crore in CiplaIlaçTicaretAnonimSirketi,
Turkeytowards50,000 fullypaid-upsharesof TRY1 each.

ii.InSeptember2011, the CompanyenteredintoanagreementwithAspenPharmaPtyLtd.,
Australiatoforma JointVenture entityAspen-CiplaAustraliaPtyLtd.Itsfirstaccountingperiodshall
endon 30th June 2012. In viewof the Management,asthere are no significanttransactionsfromthe
date of acquisitiontill31stMarch 2012, otherthan transactionrelatedtoinvestmentmentioned
herein,itsconsolidationisnotconsiderednecessary.The Companyhasinvested`51.97 inAspen-
CiplaAustraliaPtyLtd.towards1 fullypaid-upordinaryshare of AUD1.
iii.Duringthe yearMeditabSpecialitiesPvt.Ltd.andMeditabHoldingsLtd.(togetherreferredtoas
“MeditabGroup”) enteredintoanagreementtodispose of itsinvestmentinDesanoHoldingsLtd.
for USD 78 million(equivalent`396.82 crore).Towardsthe saidsale of investment,the Meditab
Group has receivedpartial considerationduringthe yearended31stMarch 2012 and the balance
considerationhasbeenreceivedinApril 2012.
D FixedAssets
FixedAssetsare statedatcost of acquisition(netof recoverable taxesandGovernmentgrantsand
othersubsidies,whereveravailed) orconstructionorotheramountssubstitutedforhistorical costs
on revaluationlessaccumulateddepreciation.Where several fixedassetsare acquiredfor
consolidatedprice,the considerationisapportionedtofixedassetsonfairvalue basis.
E Depreciation
Depreciationonfixedassetsisprovidedbythe Companyon the StraightLine Methodat the rates
and inthe mannerprescribedunderScheduleXIV tothe CompaniesAct,1956 in the parent
company.
The depreciationonfixedassetsinIndiansubsidiariesisprovidedonWrittenDownValue methodat
the rates andin the mannerprescribedunderSchedule XIV tothe CompaniesAct,1956.
All individual itemsof fixedassets,where the actual costdoesnotexceed`5000 have beenwritten
off entirelyinthe yearof acquisition.
Cost of leaseholdlandincludingpremiumisamortisedoverprimaryperiodof lease.
F Valuationof Inventories
Raw materialsandPackingmaterialsare valuedatlowerof costor netrealisable valueafter
providingforobsolescence,if any.However,these itemsare consideredtobe realisable atcostif the
finishedproducts,inwhichtheywill be used,are expectedtobe soldat or above cost.
Work-in-processandfinishedgoodsare valuedatlowerof costor netrealisable value.Finished
goodsand work-in-processinclude costsof raw material,labour,conversioncostsandothercosts
incurredinbringingthe inventoriestotheirpresentlocationandcondition.
Cost of finishedgoodsincludesexcise duty,whereverapplicable.
Cost of inventoriesiscomputedonweightedaveragebasis.

G Investments
Long terminvestments,otherthaninvestmentinassociates,are statedatcost,lessprovisionfor
diminution(otherthantemporary) invalue.
Currentinvestmentsare statedatlowerof cost and fairvalue.
H ForeignExchange Transactions
transaction.
Foreigncurrencymonetaryassets&liabilitiesandforwardcontractsare restatedatyear end
exchange rates.
Exchange differencesarisingonthe settlementof foreigncurrencymonetaryitemsoronreporting
Company’sforeigncurrencymonetaryitemsatratesdifferentfromthose atwhichtheywere
initiallyrecordedduringthe yearorreportedinthe previousfinancial statements,are recognisedas
income or expenseinthe yearinwhichtheyarise.
Non-monetaryforeigncurrencyitemsare carriedat the ratesprevailingonthe date of the
transaction.
In respectof forwardcontracts,the premiumordiscounton these contractsis recognisedasincome
or expenditure overthe periodof the contract.Anyprofitorlossarisingoncancellationorrenewal
of suchcontracts is recognisedasincome orexpenseof the year.
Foreignbranchesare identifiedasintegral foreignoperations.Alltransactionsare transferredat
ratesprevailingonthe date of transaction.Monetaryassetsandliabilitiesof the branchare restated
at the yearendrates.
Overseassubsidiariesare classifiedasnonintegral operationsasperAS-11- The Effectsof Changes
inForeignExchange Rates.All the assetsandliabilitiesare translatedusingexchangerate prevailing
at the Balance Sheetdate andincome/expenditureare translatedusingaverage exchangerate
prevailingduringthe reportingperiod.The resultanttranslationexchangegain/loss,have been
disclosedas“ForeignCurrencyTranslationReserve”underReservesandSurplus.
I Provisions,ContingentLiabilitiesandContingentAssets
A provisionisrecognisedwhenthe Companyhasapresentobligationasaresultof a pastevent,itis
probable thatan outflowof resourceswillbe requiredtosettle the obligation,inrespectof whicha
reliable estimatecanbe made.Provisionsare notdiscountedtoitspresentvalue andare
determinedbasedonbestestimate requiredtosettle the obligationatthe Balance Sheetdate.
A disclosure of contingentliabilityismade whenthere isapossibleobligationora presentobligation
that may,but probablywill not,requireanoutflow of resources.Where there isapossible obligation
or a presentobligationinrespectof whichthe likelihoodof outflowof resourcesisremote,no
provisionordisclosure ismade.
Contingentassetsare neitherrecognisednordisclosedinthe financialstatements.

J Revenue Recognition
Revenue isrecognisedtothe extentthatisprobable thatthe economicbenefitswill flow tothe
Companyandthe revenue canbe reliablymeasured.
Revenue fromsale of goodsisrecognisedwhensignificantrisksandrewardsof ownershipof the
goodshave beenpassedtothe buyer,whichordinarilycoincideswithdespatchof goodsto
customers.Revenuesare recordedatinvoice value,netof salestax,returnsandtrade discounts.
Revenue fromrenderingof servicesare recognisedoncompletionof services.
Benefitsonaccountof entitlementof exportincentivesare recognisedasandwhenthe rightto
receive isestablished.
Technical Know-how/Feesare recognisedasandwhenthe rightto receive suchincome is
establishedaspertermsand conditionsof relevantagreement.
Interestincome isrecognisedontime proportionbasis.
Dividendincomeisrecognisedwhenthe righttoreceive isestablished.
K Employee Benefits
Liabilityonaccountof short termemployee benefitsisrecognisedonanundiscountedandaccrual
basisduringthe periodwhenthe employeerendersservice/vestingperiodof the benefit.
PostretirementcontributionplanssuchasProvidentFundare chargedtothe Statementof Profit
and Lossfor the year whenthe contributionstothe respective fundsaccrue.
Postretirementbenefitplanssuchasgratuityand leave encashmentare determinedonactuarial
valuationmade byan independentactuaryasat the Balance Sheetdate.Actuarial gainsandlosses
are recognisedimmediatelyinthe Statementof ProfitandLoss.
L Income Tax
accordance withthe provisionsof local Income Tax Lawsas applicable tothe financial year.
Deferredincome taxesreflectthe impactof currentyear timingdifferencesbetweentaxable income
and accountingincome of the yearand reversal of timingdifferencesof earlieryears.Deferredtax is
measuredbasedonthe tax rates and the tax lawsenactedor substantivelyenactedatthe Balance
Sheetdate.
The Companyoffsets,ona year-on-yearbasis,the currenttax assetsandliabilities,where ithasa
legallyenforceable rightandwhere itintends tosettlesuchassetsandliabilitiesonanetbasis.
M Borrowing Costs
Borrowingcostsattributable toacquisitionand/orconstructionof qualifyingassetsare capitalisedas
a part of the cost of suchassets,up tothe date such assetsare readyfor theirintendeduse.Other
financing/borrowingcostsare chargedto the Statementof ProfitandLoss.

N Impairmentof Assets
At eachBalance Sheetdate,the Companyassesseswhetherthere isanyindicationthatanyasset
may be impaired.If anysuchindicationexists,the carryingvalue of suchassetsisreducedtoits
estimatedrecoverableamountandthe amountof such impairmentlossischargedtothe Statement
of ProfitandLoss.If,at the Balance Sheetdate,there isanindicationthata previouslyassessed
impairmentlossnolongerexists,the recoverableamountisreassessedandthe assetisreflectedat
the recoverable amountsubjecttoa maximumof depreciatedhistorical cost.
O Research and Development
Revenue expenditure onResearchandDevelopmentisrecognisedasexpense inthe yearinwhichit
isincurred.
Capital expenditureonResearchandDevelopmentisshownasadditiontoFixedAssets.
P Expenditure on RegulatoryApprovals
Expenditure incurredforobtainingregulatoryapprovalsandregistrationof productsforoverseas
marketsischarged torevenue.
Q GovernmentGrants and Subsidies
Capital subsidy/Governmentgrantsare accountedfor where itisreasonablycertainthatthe
ultimate collectionwill be made.
Capital subsidy/Government grantsrelatedtospecificdepreciableassetsare shownasdeduction
fromthe grossvalue of the assetconcernedinarrivingat itsbookvalue.The grant/subsidyisthus
recognisedinthe Statementof ProfitandLossoverthe useful lifeof suchdepreciable assetsbyway
of a reduceddepreciationcharge.
R Leases
Where the Companyisa Lessee
Lease rentalsonassetstakenon operatinglease are recognisedasexpense inthe Statementof
ProfitandLoss on an accrual basisoverthe lease terminaccordance withthe lease agreement.
Where the Companyisa Lessor
Lease rentalsonassetsgivenonoperatinglease are recognisedasincome inthe Statementof Profit
and Losson an accrual basisin accordance withthe lease agreement.
The audited/unauditedfinancial statementsof foreignsubsidiaries/associateshave beenpreparedin
accordance withthe GenerallyAcceptedAccountingPrinciplesof itscountryof incorporationor
International Financial ReportingStandards.The differencesinaccountingpoliciesof the Company
and itssubsidiariesare notmaterial.

SIGNIFICANTACCOUNTING POLICIESOFDLF:
SIGNIFICANTACCOUNTING POLICIESINRELATION TO STANDALONE FINANCIALSTATEMENTS OF
DLF
a. Basis ofaccounting
The Financial Statementsare preparedunder historical costconvention,onaccrual basis,in
accordance withthe generallyacceptedaccountingprinciplesinIndiaandtocomplywiththe
AccountingStandardsprescribedinthe Companies(AccountingStandards) Rules,2006 issuedbythe
Central Governmentinexercise of the powerconferredundersub-section(1)(a) of Section642 and
the relevantprovisionsof the CompaniesAct,1956 (the “Act”).
All assetsandliabilitieshave beenclassifiedascurrentor non-current,whereverapplicable asper
the operatingcycle of the Companyas perthe guidance assetout inthe RevisedScheduleVItothe
CompaniesAct,1956.
b. Use of estimates
The preparationof financial statementsinconformitywithgenerallyacceptedaccountingprinciples
requiresthe managementtomake estimatesandassumptionsthataffectthe reportedamountsof
assetsand liabilitiesandthe disclosure of contingentliabilitiesonthe date of the financial
statementsandthe resultsof operationsduringthe reportingperiods.Althoughthese estimatesare
baseduponmanagement’sknowledge of currenteventsandactions,actual resultscoulddifferfrom
those estimatesandrevisions,if any,are recognisedinthe currentandfuture periods.
c. Intangible assets and amortisation
i.Softwareswhichare notintegral part of the hardware are classifiedasintangiblesandare statedat
cost lessaccumulatedamortisation.These are beingamortisedoverthe estimateduseful life of 5
years,as determinedbythe management.
ii.The Companyhas acquiredexclusiveusage rightsfor30 years underthe build,own,operate and
transferscheme of the PublicPrivate Partnership(‘PPP’) Schemeinrespectof propertiesdeveloped
as automatedmulti-levelcarparkingand commercial space andclassifiedthemunder the
“Intangible Assets –Righton BuildingandRightonPlant& Machinery”.The Companyhasarrivedat
the cost of suchintangible assetsinaccordance withprovisionsof relevantAccountingStandards.
The cost of these rightsisbeingamortisedoverthe concessionperiodinthe proportioninwhichthe
actual revenue receivedduringthe accountingyearbearstothe ProjectedRevenue fromsuch
Intangiblestill the endof concessionperiodinaccordance withthe notificationNo.G.S.R.298 (E)
datedApril 17, 2012 as notifiedinMinistryof Corporate Affairs(“MCA”) onthe IntangibleAssetsof
Schedule XIV of the CompaniesAct,1956.
d. Fixedassetsand depreciation
i.Fixedassets(grossblock) are statedathistorical costlessaccumulateddepreciationand
impairment(if any).Costcomprisesthe purchase price andanyattributable costof bringingthe
assetto itsworkingconditionforitsintendeduse.

Building/specificidentifiableportionsof building,includingrelatedequipmentsare capitalisedwhen
the constructionissubstantiallycompleteoruponreceiptof the occupancycertificate,whicheveris
earlier.
Depreciationonassets(includingbuildingsandrelatedequipment’srentedoutandincludedunder
currentassetsas inventories) isprovidedon straight-line methodatthe ratesand inthe manner
prescribedinScheduleXIV tothe CompaniesAct,1956.
ii.Capital work-in-progress(includingintangible assetsunderdevelopment)representsexpenditure
incurredinrespectof capital projects/intangible assetsunderdevelopmentandare carriedat cost.
Cost includesland,relatedacquisitionexpenses,development/constructioncosts,borrowingcosts
and otherdirectexpenditure.
iii.Leaseholdland,underperpetual lease,isnotamortised.Leaseholdland,otherthanonperpetual
lease,are beingamortisedontime proportionbasisovertheirrespective lease periods.
e. Investments
Investmentsare classifiedasnon-currentorcurrent,basedonmanagement’sintentionatthe time
of purchase.Investmentsthatare readilyrealisable andintendedtobe heldfornotmore than a
yearare classifiedascurrentinvestments.All otherinvestmentsare classifiedasnon-current
investments.
Trade investmentsare the investmentsmade fororto enhance the Company’sbusinessinterests.
Currentinvestmentsare statedatlowerof cost and fairvalue determinedonanindividual
investmentbasis.Non-currentinvestmentsare statedatcost and provisionfordiminutionintheir
value,otherthantemporary,ismade inthe financial statements.
Profit/lossonsale of investmentsiscomputedwithreference tothe average costof the investment.
f. Inventories
Inventoriesare valuedasunder:
i) Land and plotsotherthanarea transferredtoconstructedpropertiesatthe commencementof
constructionare valuedatlowerof cost/ approximate average cost/asrevaluedonconversionto
stock andnet realisablevalue.Costincludesland(includingdevelopmentrightsandlandunder
agreementstopurchase) acquisitioncost,borrowingcost,estimatedinternaldevelopmentcostand
external developmentcharges.
ii.ConstructedpropertiesotherthanSpecial EconomicZone (SEZ) projectsincludesthe costof land
(includingdevelopmentrightsandlandunderagreementstopurchase),internaldevelopmentcosts,
external developmentcharges,constructioncosts,overheads,borrowingcost,development/
constructionmaterialsandisvaluedatlowerof cost/estimatedcostandnetrealisable value.
iii.Incase of SEZ projects,constructedpropertiesinclude internal developmentcosts,external
developmentcharges,constructioncosts,overheads,borrowingcost,development/construction
materials,andisvaluedatlowerof cost/ estimatedcost,andnetrealisable value.

iv.Developmentrightsrepresentsamountpaidunderagreementtopurchase land/development
rightsand borrowingcostincurredbythe Companyto acquire irrevocable andexclusive licenses/
developmentrightsinidentifiedlandandconstructedproperties,the acquisitionof whichisatan
advancedstage.
v. Construction/developmentmaterial isvaluedatlowerof costand netrealisable value.
vi.Rentedbuildingsandrelatedequipmentsare valuedatlowerof cost(lessaccumulated
depreciation) andnetrealisable value.
g. Revenue recognition
i.Revenue fromconstructedproperties:
(a) Revenue fromconstructedproperties,otherthanSEZprojects,isrecognisedonthe “percentage
of completionmethod”.Total sale considerationasperthe dulyexecuted,agreementstosell/
applicationforms(containingsalienttermsof agreementtosell),isrecognisedasrevenuebasedon
the percentage of actual projectcosts incurredthereontototal estimatedprojectcost,subjectto
such actual cost incurredbeing30 per centor more of the total estimatedprojectcost.Estimated
projectcost includescostof land/developmentrights,borrowingcosts,overheads,estimated
constructionanddevelopmentcostof suchproperties.
The estimatesof the saleable areaandcostsare reviewedperiodicallyandeffectof anychangesin
such estimatesisrecognisedinthe periodinwhichsuchchangesare determined.However,when
the total projectcostis estimatedtoexceedtotal revenuesfromthe project,lossisrecognised
immediately.
(b) For SEZ projects,revenue fromdevelopmentchargesisrecognisedonthe percentage of
completionmethodinaccordance withthe termsof the Co-developerAgreements/Memorandum
of Understanding(‘MOU’),readwithaddendum, if any.The total developmentchargesis recognised
as Revenue onthe percentage of actual projectcostincurredthereontototal estimatedproject
cost, subjecttosuch actual cost incurredbeing30 percentor more of the total estimatedproject
cost. The estimatedprojectcostincludesconstructioncost,developmentandconstructionmaterial,
internal developmentcost,external developmentcharges,borrowingcostandoverheadsof such
project.Revenue fromLease of landpertainingtosuchprojectsisrecognisedinaccordance withthe
termsof the Co-developerAgreements/MOU on accrual basis.
ii.Sale of landand plots(includingdevelopmentrights) isrecognisedinthe financial yearinwhich
the agreementtosell/applicationforms(containingsalienttermsof agreementtosell) isexecuted.
Where the Companyhas anyremainingsubstantialobligationsasperthe agreements,revenueis
recognisedonthe percentage of completionmethodof accounting,asper(i)(a) above.
iii.Sale of developmentrightsisrecognizedinthe financialyearinwhichthe agreementsof sale are
executedandthere isnouncertaintyinthe ultimate collections.
iv.Revenue fromwindpowergenerationisrecognisedonthe basisof actual powersold(netof
reactive energyconsumed),asperthe termsof the powerpurchase agreementsenteredintowith
the respective purchasers.

v. Income frominterestisaccountedforontime proportionbasistakingintoaccountthe amount
outstandingandthe applicable rate of interest.
vi.Dividendincome isrecognisedwhenthe righttoreceive isestablishedbythe reportingdate.
vii.Share of profit/lossfromfirmsinwhichthe Companyisa partner isaccountedforin the financial
yearendingon(or immediatelybefore) the date of the balance sheet.
viii.Rent,service receiptsandinterestfromcustomersunderagreementtosell isaccountedforon
accrual basisexceptincaseswhere ultimate collectionisconsidereddoubtful.
ix.Sale of CertifiedEmissionReductions(CERs) andVoluntaryEmissionReductions(VERs) is
recognised asincome onthe deliveryof the CERs/VERstothe customer’saccountandreceiptof
payment.
h. Unbilledreceivables
UnbilledreceivablesdisclosedunderNote No.19 - “OtherCurrentAssets”representsrevenue
recognisedbasedonPercentage of completion method[asperparano.g (i) andg(ii) above],over
and above the amountdue as perthe paymentplansagreedwiththe customers.
i. Cost of revenue
i.Cost of constructedpropertiesotherthanSEZprojects,includescostof land(includingcostof
developmentrights/landunderagreementstopurchase),estimatedinternal developmentcosts,
external developmentcharges,borrowingcosts,overheads,constructioncostsanddevelopment/
constructionmaterials,whichischargedtothe statementof profitand lossbasedonthe percentage
of revenue recognisedasperaccountingpolicyno. - g (i) above,inconsonance withthe conceptof
matchingcosts andrevenue.Final adjustmentismade uponcompletionof the specificproject.
For SEZ projects,costof constructedpropertiesincludesestimatedinternal developmentcosts,
external developmentcharges,borrowingcosts,overheads,constructioncostsanddevelopment/
constructionmaterials,whichischargedtothe statementof profitandlossbasedonthe percentage
of revenue recognisedasperaccountingpolicyno. – g (i) above,inconsonance withthe conceptof
matchingcosts andrevenue.Final adjustmentismade uponcompletionof the specificproject.
ii.Costof landand plotsincludesland(includingdevelopmentrights) acquisitioncost,estimated
internal developmentcostsandexternal developmentcharges,whichischargedtostatementof
profitandlossbasedon the percentage of land/plottedareainrespectof whichrevenue is
recognisedasperaccountingpolicyno- g (ii) above tothe saleable total land/plottedareaof the
scheme,inconsonance withthe conceptof matchingcostand revenue.
Final adjustmentismade uponcompletionof the specificproject.
iii.Costof developmentrightsismeasured atthe rate at whichthe same have beenpurchasedfrom
the Land OwningCompanies(LOCs) asperthe agreement.
j. Borrowing costs

Borrowingcoststhat are attributable tothe acquisitionand/orconstructionof qualifyingassetsare
capitalisedaspartof the cost of such assets,inaccordance withnotifiedAccountingStandard16
“BorrowingCosts”.A qualifyingassetisone thatnecessarilytakesasubstantial periodof time toget
readyfor itsintendeduse.Capitalisationof borrowingcostsissuspendedinthe periodduringwhich
the active developmentisdelayeddue to,otherthantemporaryinterruption.All otherborrowing
costs are charged to the statementof profitandlossas incurred.
k. Taxation
Tax expense forthe yearcomprisescurrentincome tax anddeferredtax .Currentincome tax is
determinedinrespectof taxable incomewithdeferredtax beingdeterminedasthe tax effectof
timingdifferencesrepresentingthe differencebetweentaxableincome andaccountingincome that
originate inone period,andare capable of reversal inone ormore subsequentperiod(s).
Such deferredtax isquantifiedusingratesandlawsenactedorsubstantivelyenactedasatthe end
of the financial year.
l. Foreigncurrency transactions
Transactionsinforeigncurrencyare accountedfor at the exchange rate prevailingonthe date of the
transaction.All monetaryitemsdenominatedinforeigncurrencyare convertedintoIndianrupeesat
the year-endexchange rate.Income andexpenditureof the overseasliaisonoffice istranslatedat
the yearlyaverage rate of exchange.
The exchange differencesarisingonsuchconversionandonsettlementof the transactionsare
recognisedinthe statementof profitandloss.
In termsof the clarification providedbyMinistryof Corporate Affairs(“MCA”) vide anotificationno.
G.S.R.913(E) on AccountingStandard – 11 “ChangesinForeignExchange Rates”,the exchange
gain/lossonlong-termforeigncurrencymonetaryitemsisadjustedinthe costof depreciable capital
assets.The otherexchange gains/losseshave beenrecognisedinthe statementof profitandloss.
m. Employee benefits
Expensesandliabilitiesinrespectof employeebenefitsare recordedinaccordance withthe notified
AccountingStandard15 - Employee Benefits.
i. Providentfund
The Companymakescontributiontostatutoryprovidentfundinaccordance withthe Employees’
ProvidentFundsandMiscellaneousProvisionsAct,1952. In termsof the Guidance onimplementing
the revisedAS – 15, issuedbythe AccountingStandardsBoardof the ICAI,the providentfundtrust
setup by the Companyistreatedas a definedbenefitplansince the Companyhastomeetthe
interestshortfall,if any.Accordingly,the contributionpaidorpayable andthe interestshortfall,if
any isrecognisedasan expenseinthe periodinwhichservicesare renderedbythe employee.
ii.Gratuity
Gratuityis a post-employmentbenefitandisinthe nature of a definedbenefitplan.

The liabilityrecognisedinthe balance sheetinrespectof gratuityisthe presentvalue of the defined
benefit/obligationatthe balance sheetdate,togetherwithadjustmentsforunrecognisedactuarial
gainsor lossesandpast service costs.The definedbenefit/obligationiscalculatedatornearthe
balance sheetdate byan independentactuaryusingthe projectedunitcreditmethod.
Actuarial gainsandlossesarisingfrompastexperience andchangesinactuarial assumptionsare
creditedorchargedto the statementof profitandlossinthe yearin whichsuchgainsor lossesare
determined.
iii.Compensatedabsences
Liabilityinrespectof compensatedabsencesbecomingdue orexpectedtobe availedwithinone
yearfrom the balance sheetdate isrecognisedonthe basisof undiscountedvalue of estimated
amountrequiredtobe paidor estimatedvalue of benefitexpectedtobe availedbythe employees.
Liabilityinrespectof compensatedabsencesbecomingdue orexpectedtobe availedmore thanone
yearafter the balance sheetdate isestimatedon the basisof anactuarial valuationperformedbyan
independentactuaryusingthe projectedunitcreditmethod.
Actuarial gainsandlossesarisingfrompastexperience andchangesinactuarial assumptionsare
creditedorchargedto the statementof profit andlossinthe yearin whichsuchgainsor lossesare
determined.
iv.Employee ShadowOptionScheme
(CashSettledOptions)
Accountingvalue of CashSettledOptionsgrantedtoemployeesunderthe “EmployeesShadow
OptionScheme”isdeterminedonthe basisof intrinsicvaluerepresentingthe excessof the average
marketprice,duringthe monthbefore the reportingdate,overthe exercise price of the shadow
option.The same ischarged as employee benefitsoverthe vestingperiod,inaccordance with
Guidance Note No.18 “Share BasedPayments”,issuedbythe ICAI.
v. Othershort-termbenefits
Expense inrespectof othershort-termbenefitsisrecognisedonthe basisof the amountpaidor
payable forthe periodduringwhichservicesare renderedbythe employee.
Contributionmade towardsSuperannuationFund[fundedbypaymentstoLife Insurance
Corporationof India(LIC)] ischargedto the statementof profi tand losson accrual basis.
n. Leases
Assetssubjecttooperatingleasesare includedunderfixed assetsorcurrentassetsasappropriate.
Rent(Lease) income isrecognisedinthe statementof profitandlossona straight-line basisoverthe
lease term.Costs,includingdepreciation,are recognisedasanexpense inthe statementof profit
and loss.

o. EmployeesStock OptionPlan (ESOP)
Accountingvalue of stockoptionsisdeterminedonthe basisof “intrinsicvalue”representingthe
excessof the marketprice on the date of grant overthe exercise price of the optionsgrantedunder
the “EmployeesStockOptionScheme”of the Company,and isbeingamortisedas“Deferred
employeecompensation”ona straight-line basisoverthe vestingperiodinaccordance withthe SEBI
(Employee StockOptionScheme andEmployee StockPurchase Scheme) Guidelines,1999 and
Guidance Note No.18 “Share BasedPayments”issuedbythe ICAI.
p. Impairment ofassets
The Companyassessesateach balance sheetdate whetherthere isanyindicationthatanassetmay
be impaired.If anysuch indicationexists,the Companyestimatesthe recoverable amountof the
asset.If such recoverable amountof the assetorthe recoverable amountof the cashgeneratingunit
to whichthe assetbelongsislessthanitscarryingamount,the carrying amountisreducedto its
recoverable amountandthe reductionistreatedasan impairment lossandisrecognisedinthe
statementof profitandloss.If at the balance sheetdate there isan indicationthatapreviously
assessedimpairmentlossnolongerexists,the recoverable amountisreassessedandthe assetis
reflectedatthe recoverable amountsubjecttoa maximumof depreciatedhistorical costandis
accordinglyreversedinthe statementof profitandloss.
q. Contingentliabilitiesandprovisions
Dependinguponthe factsof eachcase and afterdue evaluationof legal aspects,claimsagainstthe
Companyare accountedfor as eitherprovisionsordisclosedascontingentliabilities.Inrespectof
statutoryduesdisputedandcontestedbythe Company,contingentliabilitiesare providedforand
disclosedasperoriginal demandwithouttakingintoaccountanyinterestorpenaltythatmayaccrue
thereafter.
The Companymakesa provisionwhenthere isapresentobligationasaresultof a pasteventwhere
the outflowof economicresourcesisprobable andareliable estimateof the amountof obligation
can be made.Possiblefuture orpresentobligationsthatmaybutwill probablynotrequire outflow
of resourcesorwhere the same cannotbe reliablyestimated,isdisclosedascontingentliabilityin
the Financial Statements.
r. Earnings pershare
Basic earningspershare iscalculatedbydividingthe netprofitorlossforthe periodattributable to
equityshareholdersbythe weightedaveragenumberof equitysharesoutstandingduringthe
period.The weightedaverage numbersof equitysharesoutstandingduringthe periodare adjusted
for eventsincludingabonusissue,bonuselementinarightsissue toexistingshareholders,share
split,andreverse share split(consolidationof shares).
For the purpose of calculatingdilutedearningspershare,the netprofitorlossforthe period
attributable toequityshareholdersandthe weightedaverage numberof sharesoutstandingduring
the periodare adjustedforthe effectsof all dilutivepotential equityshares.The periodduring
which,numberof dilutivepotential equityshareschange frequently,weightedaverage numberof

sharesare computedbasedona meandate in the quarter,as impactis immaterial onearningsper
share.

SIGNIFICANTACCOUNTING POLICIESINRELATION TO CONSOLIDATED FINANCIALSTATEMENTS OF
DLF
a. Nature of operations
DLF Limited(‘DLF’orthe ‘Company’),apubliclimitedCompany,togetherwithitssubsidiaries,joint
venturesandassociates(collectivelyreferredtoasthe ‘Group’) isengagedprimarilyinthe business
of colonisationandreal estate development.The operationsof the Groupspan all aspectsof real
estate development,fromthe identificationandacquisitionof land,toplanning,execution,
constructionandmarketingof projects.The Groupis alsoengagedinthe businessof generationof
power,provision of maintenance services,hospitalityandrecreational activities,life insurance and
retail chainoutlets.
b. Basis of accounting
The ConsolidatedFinancial Statementsare preparedunderhistorical costconventiononanaccrual
basis,inaccordance with the generallyacceptedaccountingprinciplesinIndiaandtocomplywith
the AccountingStandardsprescribedinthe Companies(AccountingStandards)Rules,2006 issuedby
the Central Governmentinexercise of the powerconferredundersub-section(1) (a) of Section642
of the CompaniesAct,1956 (the ‘Act’),otherpronouncementsof The Instituteof Chartered
Accountantsof India(ICAI) andguidelinesissuedbyThe SecuritiesandExchange Boardof India,to
the extentapplicable.
c. Principlesof consolidation
The ConsolidatedFinancial Statementsinclude the financial statementsof DLFLimited,its
subsidiaries,jointventures,partnershipfirmsandassociates.The ConsolidatedFinancial Statements
of the Group have beenpreparedinaccordance withAccountingStandard(AS) 21‘Consolidated
Financial Statements’,AS23 ‘AccountingforInvestmentsinAssociatesinConsolidatedFinancial
Statements’andAS27 ‘Financial Reportingof InterestsinJointVentures’,(asapplicable),notified
pursuantto the Companies(AccountingStandards) Rules,2006. The ConsolidatedFinancial
Statementsare preparedonthe followingbasis:
i.The ConsolidatedFinancial Statementsincludeconsolidatedbalance sheet,consolidated
statementof profitandloss,consolidatedstatementof cashflowsandnotestothe Consolidated
Financial Statementsandexplanatorystatementsthatformanintegral partthereof.The
ConsolidatedFinancialStatementsare presented,tothe extentpossible,inthe same formatasthat
adoptedbythe parent for standalone financialstatements.
ii.The ConsolidatedFinancial Statementsinclude the financial statementsof the Companyandall its
subsidiaries,whichare more than50 percentownedor controlledandpartnershipfirmswhere the
Company’sshare inthe profitsharingratioismore than50 per centduringthe year. Investmentsin
entitiesthatwere notmore than50 per centownedorcontrolledandpartnershipfirmswherethe
profitsharingratiowas notmore than 50 per centduringthe year have beenaccountedforin
accordance withthe provisionsof AccountingStandard13 ‘AccountingforInvestments’,or
AccountingStandard23 ‘AccountingforInvestmentsinAssociatesinConsolidatedFinancial
Statements’,orAccountingStandard27 ‘Financial Reportingof InterestsinJointVentures’(as
applicable) notifiedpursuanttothe Companies(AccountingStandards)Rules,2006.

iii.The ConsolidatedFinancial Statementshave beencombinedonaline-by-line basisbyaddingthe
bookvaluesof like itemsof assets,liabilities,incomeandexpensesaftereliminatingintra-group
balances/transactionsand resultingeliminationof unrealisedprofitsinfull.The amountsshownin
respectof reservescomprise the amountof the relevantreservesasperthe balance sheetof the
parentcompanyand itsshare in the post-acquisitionincrease inthe relevantreservesof the entity
to be consolidated.Financial interestinjointventureshasbeenaccountedforunderthe
proportionate consolidationmethod.
iv.Investmentsinassociatesare accountedforusingthe equitymethod.The excessof costof
investmentoverthe proportionateshare inequityof the associate asatthe date of acquisitionof
stake isidentifiedasgoodwill andincludedinthe carryingvalue of the investmentinthe associate.
The carrying amountof the investmentisadjustedthereafterforthe postacquisitionchange inthe
share of netassetsof the associate.However,the share of lossesisaccountedforonlytothe extent
of the cost of investment. Subsequentprofitsof suchassociatesare notaccountedforunlessthe
accumulatedlosses(notaccountedforbythe Group) are recouped.Where the associate prepares
and presentsConsolidatedFinancial Statements,suchConsolidatedFinancial Statementsof the
associate are usedfor the purpose of equityaccounting.Inothercases,standalone financial
statementsof associatesare usedforthe purpose of consolidation.
v. Minorityinterestrepresentsthe amountof equityattributable tominorityshareholders/partners
at the date on whichinvestmentinasubsidiary/partnershipfirmismade anditsshare of
movementsinequitysince thatdate.
Anyexcessconsiderationreceivedfromminorityshareholdersof subsidiaries/minoritypartnersof
partnershipfirmsoverthe amountof equityattributable tothe minorityonthe date of investmentis
reflectedunderReservesandSurplus.
vi Notesto the ConsolidatedFinancialStatements,representsnotesinvolvingitemswhichare
consideredmaterialandare accordinglydulydisclosed.
Materialityforthe purpose isassessedinrelationtothe informationcontainedinthe Consolidated
Financial Statements.
Further,additional statutoryinformationdisclosedinseparate financial statementsof the subsidiary
and/ora parenthavingnobearingonthe true and fairview of the ConsolidatedFinancial
Statementshasnotbeendisclosedinthe ConsolidatedFinancial Statements.
d. Use of estimates
The preparationof ConsolidatedFinancialStatementsinconformitywithgenerallyaccepted
accountingprinciplesrequiresmanagementtomake estimatesandassumptionsthataffectthe
reportedamountsof assetsandliabilitiesanddisclosureof contingentliabilitiesonthe date of the
ConsolidatedFinancialStatementsandthe resultsof operationsforthe reportingperiods.
Althoughthese estimatesare baseduponmanagement’sknowledge of currenteventsandactions,
actual resultscoulddifferfromthose estimatesandrevisions,if any,are recognisedinthe current
and future periods.

e. Tangible assets,capital work-in-progressand depreciation/amortisation
i) Fixedassets(grossblock) are statedathistorical costlessaccumulateddepreciationand
impairment,if any.Costcomprisesthe purchase price andanyattributable cost of bringingthe asset
to itsworkingconditionforitsintendeduse.
Building/specificidentifiable portionsof building,includingrelatedequipmentsare capitalised
whenthe constructionissubstantiallycomplete oruponreceiptof the occupancycertificate,
whicheverisearlier.
ii) Inrespectof certainoverseashotel propertiesthathave commencedcommercial operations,are
statedinthe balance sheetattheirrevaluedamounts,lessanysubsequentaccumulated
depreciationandsubsequentaccumulated impairmentlosses.Revaluationsare performedwith
sufficientregularitysuchthatthe carrying amountdoesnotdiffermateriallyfromthatwhichwould
be determinedusingfairvaluesatthe balance sheetdate.Anyrevaluationincrease arisingonthe
revaluationof suchhotel propertiesiscreditedtothe revaluationreserve.
iii) Capital work-in-progress(includingintangible assetsunderdevelopment) representsexpenditure
incurredinrespectof capital projects/intangible assetsunderdevelopmentandiscarriedat cost.
Cost includesland,relatedacquisitionexpenses,development/constructioncosts,borrowingcosts
capitalisedandotherdirectexpenditure.
iv) Depreciationonfixedassets(includingbuildingsandrelatedequipmentrentedoutandincluded
undercurrentassetsas inventories) isprovidedonastraightline method,atthe ratesand inthe
mannerprescribedinScheduleXIV tothe CompaniesAct,1956, or basedon the estimateduseful
livesof assets,whicheverishigher,asapplicable.
The useful livesasestimatedbythe managementisasfollows:
Description Estimateduseful life (years)
Leaseholdland Overthe effectivetermof the lease
Buildings 25-62
Plantand machinery 4-20
Computersandsoftware 2-6
Furniture andfixtures 10-15
Office equipment 8
Vehicles 2-10
Depreciationinrespectof assetsrelatingtothe powergeneratingdivisionof one of the subsidiary
companiesisprovidedonthe straightline methodintermsof the Electricity(Supply) Act,1948 on
the basisof Central GovernmentNotificationNo.S.O266 (E) datedMarch 29, 1994, fromthe year

immediatelyfollowingthe yearof commissioningof the assetsinaccordance withthe clarification
issuedbythe Central ElectricityAuthorityasperthe accountingpolicyspecifiedunderthe Electricity
(Supply) AnnualAccountsRules,1985.
Depreciationonrevaluedpropertiesof certainoverseashotelpropertiesischargedtostatementof
profitandloss.On subsequentsale orretirementof a revaluedproperty,the attributable
revaluationsurplusremaininginthe revaluationreserve istransferreddirectlytoreservesand
surplus.
v) Leaseholdlandunderperpetualleaseare notbeingamortised.The leaseholdland, otherthan
perpetual lease,are beingamortisedonatime proportionbasisovertheirrespective lease periods.
f. Intangibles
i.ComputerSoftware
Softwareswhich are notintegral partof the hardware are classifiedasintangiblesandare statedat
cost lessaccumulatedamortisation.
Softwaresare beingamortisedoverthe estimateduseful life of three tofive years,asapplicable.
ii.Usage rights
The Companyhas acquiredexclusive usage rightsfor30 yearsunderthe build,own,operate and
transferscheme of the publicprivate partnership(‘PPP’) scheme inrespectof propertiesdeveloped
as automatedmultilevel carparkingandcommercial space andclassifiedthemunderthe “Intangible
Assets– Righton BuildingandRightonPlant& Machinery”.The Companyhas arrivedat the cost of
such intangibleassetsinaccordance withprovisionsof relevantAccountingStandards.The costof
these rightsisbeingamortisedoverthe concessionperiodinthe proportioninwhichthe actual
revenue receivedduringthe accountingyearbearstothe ProjectedRevenuefromsuchIntangibles
till the endof concessionperiodinaccordance withthe NotificationNo.G.S.R.298 (E) datedApril
17, 2012 as notifiedinMinistryof Corporate Affairs(“MCA”) onthe Intangible Assetsof Schedule XIV
of the CompaniesAct1956.
iii.Goodwill
The difference betweenthe costof investmenttothe Groupin SubsidiariesandJointVenturesand
the proportionate share inthe equityof the investee companyasatthe date of acquisitionof stake
isrecognisedinthe ConsolidatedFinancial StatementsasGoodwill orCapital Reserve,asthe case
may be.
g. Investments
Investmentsare classifiedasnon-currentorcurrent,basedonmanagement’sintentionatthe time
of purchase.Investmentsthatare readilyrealisable andintendedtobe heldfornotmore than a
yearare classifiedascurrentinvestments.All otherinvestmentsare classifiedasnon-current
investments.
Trade investmentsare the investmentsmade fororto enhance the Company’sbusinessinterests.

Currentinvestmentsare statedatlowerof cost and fairvalue determinedonanindividual
investmentbasis.Non-currentinvestmentsare statedatcost and provisionfordiminutionintheir
value,otherthantemporary,ismade inthe financial statements.
Profit/lossonsale of investmentsiscomputedwithreference tothe average costof the investment.
In respectof Life Insurance business,investmentsare made inaccordance withthe Insurance Act,
1938 and Insurance Regulatory&DevelopmentAuthority(Investment) Regulations,2000. These
Investmentsare recordedatcoston date of purchase includingbrokerage andstatutorylevies.
h. Inventories
Inventoriesare valuedasunder:
i) Land and plotsotherthanarea transferredtoconstructedpropertiesatthe commencementof
constructionare valuedatlowerof cost / approximate average cost/as re-valuedonconversionto
stock andnet realisablevalue.Costincludesland(includingdevelopmentrights)acquisitioncost,
borrowingcost,estimatedinternal developmentcostsandexternal developmentcharges.
ii) ConstructedpropertiesotherthanSpecial EconomicZone (SEZ) projectsincludesthe costof land
(includingdevelopmentrightsandlandunderagreementstopurchase),internaldevelopmentcosts,
external developmentcharges,constructioncosts,overheads,borrowingcost,development/
constructionmaterials,andisvaluedatlowerof cost/ estimatedcostandnetrealisable value.
iii) Incase of SEZ projects,constructedpropertiesinclude internaldevelopmentcosts,external
developmentcharges,constructioncosts,overheads,borrowingcost,development/construction
materials,andisvaluedatlowerof cost/ estimatedcost,andnetrealisable value.
iv) Developmentrightsrepresentamountpaidunderagreementtopurchase land/development
rightsand borrowingcostincurredbythe Companyto acquire irrevocable andexclusive licenses/
developmentrightsinidentifiedlandandconstructedproperties,the acquisitionof whichisatan
advancedstage.
v) Cost of construction/ developmentmaterial isvaluedatlowerof costor net realisablevalue.
vi) Rentedbuildingsandrelatedequipmentsare valuedatcostlessaccumulateddepreciation.
vii) Inrespectof the powergeneratingdivisionof one of the subsidiarycompanies,materials&
componentsand stores& sparesare valuedat lowerof cost or netrealisable value.The costis
determinedonthe basisof movingweightedaverage.
Loose toolsare valuedatdepreciatedvalue.Depreciationhasbeenprovidedonastraightline
methodat the rate of tenper centper annum.
viii) Stocksformaintenance andrecreationalfacilities(includingstoresandspares) are valuedat
cost or netrealisable value,whicheverislower.Costof inventoriesisascertainedonaweighted
average basis.

ix) Inventoriesat retail chainoutletsare valuedatlowerof cost,computedona movingweighted
average basisandestimatednetrealisablevalue afterprovidingforcostof obsolescence andother
anticipatedlosseswhereverconsiderednecessary.
x) Stock of foodand beveragesisvaluedatcostor netrealisable value,whicheverislower.Cost
comprisesof costof material includingfreightandotherrelatedincidentalexpensesandisarrivedat
on firstinfirstout basis.Slowmovinginventoryisdeterminedonmanagement estimates.
i. Revenue recognition
i) Revenue fromconstructedproperties
a) Revenue fromconstructedproperties,otherthanSEZprojects,isrecognisedonthe percentage of
completionmethod.
Total sale considerationasperthe dulyexecutedagreement tosell /application(containingsalient
termsof agreementtosell),isrecognisedasrevenue basedonthe percentageof actual projectcosts
incurredthereontototal estimatedprojectcost,subjecttosuchactual cost incurredbeing30 per
centor more of the total estimatedprojectcost.Projectcostincludescostof land,costof
developmentrights,estimatedconstructionanddevelopmentcost,borrowingcostof such
properties.The estimatesof the saleable areaandcostsare reviewedperiodicallyandeffectof any
change in suchestimatesisrecognisedinthe periodsuchchangesare determined.However,when
the total projectcostis estimatedtoexceedtotal revenuesfromthe project,the lossisrecognised
immediately.
b) For SEZ projects,revenue fromdevelopmentchargesisrecognisedonthe percentage of
completionmethodinaccordance withthe termsof the Co-developerAgreements/Memorandum
of Understanding(‘MOU’),readwithaddendum, if any.The total developmentchargesare
recognisedasRevenue onthe percentage of actual projectcostincurredthereontototal estimated
projectcost,subjectto suchactual cost incurredbeing30% or more of the total estimatedproject
cost. The estimatedprojectcostincludesconstructioncost,development andconstructionmaterial,
internal developmentcost,external developmentcharges,borrowingcostandoverheadsof such
project.Revenue fromleaseof landpertainingtosuchprojectsisrecognisedinaccordance withthe
termsof the Co-developerAgreements/MOU on accrual basis.
ii) Sale of landand plots
Sale of landand plots(includingdevelopmentrights) isrecognisedinthe financial yearinwhichthe
agreementtosell /applicationcontainingsalienttermsof agreementtosell isexecuted.Where the
Companyhasany remainingsubstantialobligationsasperagreements,revenue isrecognisedon
‘percentage of completionmethod’asper(i)(a) above.
iii) Constructioncontracts
a) Revenue fromcostpluscontractsisrecognisedwithrespecttothe recoverable costsincurred
duringthe periodplusthe margininaccordance withthe termsof the agreement.

b) Revenue fromfixedprice contractisrecognisedunderpercentageof completionmethod.
Percentage of completionmethodisdeterminedasaproportion of cost incurredupto the reporting
date to the total estimatedcontractcost.
iv) Rental income
Rental income isrecognisedinthe statementof profitandlossonaccrual basisinaccordance with
the termsof the respective lease agreements.
v) Powersupply
a) Revenue frompowersupplytogetherwithclaimsmade oncustomersisrecognisedintermsof
powerpurchase agreementsenteredintowiththe respective purchasers.
b) Revenue fromenergysystemdevelopmentcontractsisrecognisedonpercentage of completion
methodandaccountedfor inclusiveof excisedutyrecovered,whereapplicable.Accordingly,
revenue isrecognisedwhencostincurred(includingappropriate portionof allocable overheads) on
the contract is estimatedat30 percentor more,of the total costto be incurred(includingall
foreseeable lossesandanappropriate portionof allocable overheads) forthe completionof
contract, whereverapplicable.
c) Revenue fromwindpowergenerationprojectsisrecognisedonthe basisof actual powersold(net
of reactive energyconsumed),asperthe termsof the relevantpowerpurchase agreements
withthe purchasers.
d).Sale of CertifiedEmissionReductions(CERs) andVoluntaryEmissionReductions(VERs) is
recognisedasincome onthe deliveryof the CERs/VERs to the customer’saccountand receiptof
payment.
vi) Hospitalityservicesandrecreational facilityincome
a) Subscriptionandnon-refundablemembershipfeeisrecognisedonproportionatebasisoverthe
periodof the subscription/membership.
b) Revenue fromfoodandbeverage isrecordednetof salestax /value addedtax and discounts.
c) Salesof merchandise are statednetof goodssoldonconsignmentbasisas
d) Revenue fromhotel operationsandrelatedservicesisrecognisednetof discountsandsales
relatedtaxesinthe periodinwhichthe servicesare rendered.
e) Income fromgolf operations,course capitation,sponsorshipetc.isfixedandrecognisedasperthe
agreementwiththe parties,asandwhenservicesare rendered.
f) Sale of cinematicketsisstatednetof discounts.
vii) Life insurance

a) Premiumisrecognisedasincome whendue.Unallocatedpremiumonlapsedpoliciesisnot
recognisedasincome unlessreinstated.
b) For linkedbusiness,premiumincomeisrecognisedwhenthe associatedunitsare allocated.Top-
up premium(i.e.premiumpaidinexcessof annual targetpremiumasperpolicycontract) are
recognisedassingle premium.Feesonlinkedpoliciesincludingfundchargesetc.are recoveredfrom
the linkedfundandrecognisedinaccordance withtermsandconditionsof the policies.
c) Premiumcededisaccountedatthe time of recognitionof premiumincome inaccordance with
treatyor in principle agreementwiththe reinsurers.
viii) Retail chainoutlets
Income fromsalesisrecognisedwhensignificantrisksandrewardsinrespectof ownershipof the
goodsare transferredtothe customersandis statednetof trade discounts,value addedtaxesand
estimatedsalesreturn,whereverapplicable.
ix) Others
a) Revenue fromdesignandconsultancyservicesisrecognisedonpercentage of completionmethod
to the extentitisprobable that the economicbenefitswillflow tothe groupandthe revenue canbe
reliablymeasured.
b) Revenue inrespectof maintenance servicesisrecognisedonanaccrual basis,inaccordance with
the termsof the respective contract.
c) Dividendincomeisrecordedwhenthe righttoreceive the dividendisestablishedbythe reporting
date.
d) Service receiptsandinterestfromcustomersunderagreementstosell isaccountedforonan
accrual basisexceptincaseswhere ultimate collectionisconsidereddoubtful.
e) Interestincome isaccountedforontime proportionbasistakingintoaccountthe amount
outstandingandthe applicable rate of interest.
f) Share of profit/ lossfromfirmsinwhichthe Companyisa partnerisaccountedfor inthe financial
yearendingon(or immediatelybefore) the date of the balance sheet.
j. Unbilledreceivables
UnbilledreceivablesdisclosedunderNote 19 – ‘OtherCurrentAssets’representsrevenue
recognisedbasedonpercentage of completionmethod(asperParaNo.(i)(i) and (i)(ii) above),over
and above the amountdue as perthe paymentplansagreedwiththe customers.
k. Cost of revenues
i) Cost of constructedpropertiesotherthanSEZprojects,includescostof land(includingcostof
developmentrights/landunderagreementstopurchase),estimatedinternal developmentcosts,
external developmentcharges,costof developmentrights,constructionanddevelopmentcost,
borrowingcost,constructionmaterials,whichischargedtothe statementof profitandlossbased

on the percentage of revenue recognisedasperaccountingpolicy(i)(i) above,inconsonance with
the conceptof matchingcostsand revenue.
Final adjustmentismade oncompletionof the applicableproject.
For SEZ projects,costof constructedpropertiesincludesestimatedinternal developmentcosts,
external developmentcharges,constructionanddevelopmentcost,borrowingcost,construction
materials,whichischargedtothe statementof profitandlossbasedon the percentage of revenue
recognisedasperaccountingpolicy(i)(i) above,inconsonance withthe conceptof matchingcosts
and revenue.Finaladjustmentismade oncompletionof the applicableproject.
ii) Costof landandplotsincludesland(includingdevelopmentrights),acquisitioncost,estimated
internal developmentcostsandexternal developmentcharges,borrowingcostwhichischargedto
the statementof profitandlossbasedon the percentage of land/plottedareainrespectof which
revenue isrecognisedasperaccountingpolicy(i)(ii) above tothe saleabletotal land/plottedareaof
the scheme,inconsonance withthe conceptof matchingcostand revenue.Final adjustmentis
made on completionof the specificproject.
l. Borrowing costs
Borrowingcoststhat are attributable tothe acquisitionand/orconstructionof qualifyingassetsare
capitalisedaspartof the cost of such assets,inaccordance withAccountingStandard16 “Borrowing
Costs”.A qualifyingassetisone thatnecessarilytakesasubstantial periodof time togetreadyfor its
intendeduse.Capitalisationof borrowingcostsissuspendedinthe periodduringwhichthe active
developmentisdelayeddue to,otherthantemporary,interruption.Allotherborrowingcostsare
chargedto the statementof profitandlossasincurred.
m. Taxation
Tax expense comprisescurrentincome tax anddeferredtax andisdeterminedandcomputedatthe
standalone entitylevel.
accordance withthe IndianIncome Tax Act andin the overseasbranches/companiesasperthe
respective tax laws.Deferredincometax reflectsthe impactof current yeartimingdifferences
betweentaxable incomeandaccountingincome forthe yearandreversal of timingdifferencesof
earlieryears.Deferredtax ismeasuredbasedonthe tax ratesand tax lawsenactedorsubstantively
enactedat the balance sheetdate. Deferredtax assetsanddeferredtax liabilitiesacrossvarious
countriesof operationare notsetoff againsteach otheras the Companydoesnothave a legal right
to do so.Deferredtax assetsare recognisedonlytothe extentthatthere isreasonable certaintythat
sufficientfuture taxableincome willbe available againstwhichsuchdeferredtax assetscanbe
realised.Insituations,where the Groupentityhasunabsorbeddepreciationorcarryforwardtax
losses,deferredtax assetsare recognisedonly if there isvirtual certaintysupportedbyconvincing
evidence thattheycanbe realisedagainstfuture taxable profits.
At eachbalance sheetdate,the Groupreassessesunrecogniseddeferredtax assets.Itrecognises
unrecogniseddeferredtax assetstothe extentthatithas become reasonablycertain,asthe case

may be,that sufficientfuture taxable income will be availableagainstwhichsuchdeferredtax assets
can be realised.
n. Lease transactions
a) Where a Group entityisthe lessee Finance leases,whicheffectivelytransfertothe lessee
substantiallyall the risksandbenefitsincidentaltoownershipof the leaseditem,are capitalisedat
the lowerof the fair value andpresentvalue of the minimumlease paymentsatthe inceptionof the
lease termanddisclosedasleasedassets.Lease paymentsare apportionedbetweenthe finance
chargesand reductionof the lease liabilitybasedonthe implicitrate of return.Finance chargesare
chargeddirectlyagainstincome.Lease managementfees,legal chargesandotherinitial directcosts
are capitalised.
If there is noreasonable certaintythatthe Groupentitywill obtainthe ownershipbythe endof
lease term,capitalisedleasedassetsare depreciatedoverthe shorterof the estimatedusefullifeof
the assetor the lease term.
Leases,where the lessoreffectivelyretainssubstantiallyall the risksandbenefitsof ownershipof
the leaseditem,are classifiedasoperatingleases.
Operatinglease paymentsare recognisedasan expenseinthe statementof profitandlosson
straightline basisoverthe lease term.
b) Where a Groupentityisthe lessorLeaseswhicheffectivelytransfertothe lesseesubstantiallyall
the risksand benefitsincidental toownershipof the leaseditemare classifiedandaccountedforas
finance lease.
Assetssubjecttooperatingleasesare includedinfixedassets/currentassets/investmentproperties.
Lease income isrecognisedinthe statementof profitandlossona straightline basisoverthe lease
term.Costs,including depreciationare recognisedasanexpense inthe statementof profitandloss.
Initial directcostssuchas legal costs,brokerage costsetcare recognisedimmediatelyinthe
statementof profitandloss.
o. Foreigncurrency transactions
a) RelatingtoOverseasentities
IndianRupee (Re.) isthe reportingcurrencyforthe Group.However,reportingcurrenciesof certain
non-integral overseassubsidiariesare differentfromthe reportingcurrencyof the Group.
The translationof local currenciesintoIndianRupee isperformedforassetsandliabilities(excluding
share capital,openingreservesandsurplus),usingthe exchangerate asat the balance sheetdate.
Revenues,costsandexpensesare translatedusingweightedaverage exchange rate duringthe
reportingperiod.
Share capital,openingreservesandsurplusare carriedathistorical cost.The resultantcurrency
translationexchange gain/lossiscarriedas foreigncurrencytranslationreserve underreservesand

Significant accounting policies of five major indian companies

Significant accounting policies of five major indian companies

Recomendados

Recomendados

Más contenido relacionado

La actualidad más candente

La actualidad más candente (6)

Destacado

Destacado (7)

Similar a Significant accounting policies of five major indian companies

Similar a Significant accounting policies of five major indian companies (20)

Último

Último (20)

Significant accounting policies of five major indian companies