| 1. General Information about KPT
Kulkarni Power Tools Ltd. [KPT], is a Public Limited Company
incorporated on 30th July,1976, under the provisions of Companies
Act,1956. Its shares are listed at Bombay Stock Exchange. The Company
is mainly engaged in the business of Electric Power Tools and Roots
(Positive Displacement) Blowers / Exhausters for a wide variety of
applications.
2. Basis of Preparation
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006 (as amended) and
the relevant provisions of the Companies Act, 2013. The financial
statements have been prepared on an accrual basis and under the
historical cost convention except free hold land which was revalued
during the financial year 2003-04.
The estimates of future salary increase, considered in actuarial
valuation, taking into account of inflation, seniority, relevant
factors, such as supply and demand in the employment market.
Brief description of the nature of the obligation and the expected
timing of any resulting outflows of economic benefits.
Product Warranty:
Accruals have been made in respect of warranties given by the Company
for the sales made during the year based on past experience.
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