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Hind Syntex posts results for quarter ended Sep 30
29 Nov '07
2 min read
Hind Syntex Ltd has informed that in the limited review report of the Company for the quarter ended September 30, 2007, the Auditors of the Company have made the following observations:
"1. The depreciation on plant and machinery is charged on the basis of continuous process plant as in the earlier years.
2. The Company would review impairment of its assets in accordance with Accounting Standard 28, 'Impairment of Assets', on year end.
3. The Company would review additional obligation, if any in accordance with Accounting Standard - 15 (Revised 2005) on Employee Benefit at the year end.
4. As per Accounting Standard - 22, 'Accounting for Taxes on Income', the Company has deferred tax asset on account of timing differences of Rs 41,03,617/- during this quarter. However, the Company has not considered deferred tax asset during the quarter and the same will be considered at the year end."
Hind Syntex Ltd set up a Synthetic Spinning Unit, in 1983 to manufacture Polyester/Viscose and 100% Viscose Electronically cleared, Spliced Auto coned, TFO and Non-TFO, Blended Yarn both Raw White and Dyed, at Village Birgod, District Dewas MP India, with initial complement of 19200 Spindles, and in two years time it became the leading manufacturer of high quality Blended Yarn in India.
"1. The depreciation on plant and machinery is charged on the basis of continuous process plant as in the earlier years.
2. The Company would review impairment of its assets in accordance with Accounting Standard 28, 'Impairment of Assets', on year end.
3. The Company would review additional obligation, if any in accordance with Accounting Standard - 15 (Revised 2005) on Employee Benefit at the year end.
4. As per Accounting Standard - 22, 'Accounting for Taxes on Income', the Company has deferred tax asset on account of timing differences of Rs 41,03,617/- during this quarter. However, the Company has not considered deferred tax asset during the quarter and the same will be considered at the year end."
Hind Syntex Ltd set up a Synthetic Spinning Unit, in 1983 to manufacture Polyester/Viscose and 100% Viscose Electronically cleared, Spliced Auto coned, TFO and Non-TFO, Blended Yarn both Raw White and Dyed, at Village Birgod, District Dewas MP India, with initial complement of 19200 Spindles, and in two years time it became the leading manufacturer of high quality Blended Yarn in India.
Hind Syntex Ltd
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