For the Year Ended
                                    31-03-2010
                                   Rs.in Lakhs       For the year Ended
                                                       31-03-2009
                                                        Rs.in Lakhs
 
 
 1.CONTINGENT LIABILITIES
 a)Letter of Credits                   74.23               275.39
 b)Bank Guarantees                    349.62                50.00
 TOTAL                                225.60               275.60
 
 
 
 2.The Company has an on going programme of periodic reconciliation of 
 sundry debtors,sundry creditors,and loans & advances given /taken &
 Provisions wherever necessary have been made.
 
 3.The Company has taken Group Gratuity scheme under cash accumulation 
 system from LIC of India and unavailed encashable earned leave Rs.4,20,346 
 on accrual basis.
 
 4.Deferred Tax Asset as at 31 st March 2010 represents the tax effect of 
 temporary differences substantially on account of differences in the 
 written down value of fixed assets on account of differing depreciation 
 methods /rates &other timing differences,arising during the accounting year.
 
 5.During the year The Commissioner of Service Tax,Audit Section,Bengaluru 
 has conducted the Audit and observed that,the Company is liable to pay 
 Rs.2,01,31,900/-. 
 
 We have done the assessment and accepted a liability of Rs.44,04,348/-,which 
 has been paid during the year.
 
 In our opinion,the balance of Rs.1,57,27,5527-is not a liability on us But,
 if we receive any demand from the department,we will contest the claim,to 
 that extent there is contingent liability of Rs.1,57,27,552/-.
 
 6.Net effect of Foreign Exchange rate difference included in the net profit 
 for the period is Rs.35.88 Lakhs Profit (P.Y Rs.102.17 Lakhs (Loss))
 
 7.LIST OF RELATED PARTIES
 Enterprises owing directly or indirectly,an interest in the voting power of 
 the Company that gives control or significant influence over the Company.
 
 I.Holding Company                  Opto Circuits (India)Ltd.
 
 II.Fellow Subsidiaries             
 
 Altron Industries Pvt.Ltd.
 EurocorGmbH,Germany
 Mediaid Inc.,USA
 Devon Innovation Pvt.Ltd.
 Ormed Technologies Ltd.
 Opto Infrastructure Ltd.
 Criticare Systems Inc.,USA
 Maxcor Lifescience Inc.,USA
 
 III.Key Management Personnel
 
 Mr.Vinod Ramnani              Chairman &Managing Director
 Mr.Bhaskar Valiveti           Whole-Time Executive Director
 
 
 8.The Income,expenditure and other financials of USA Branch have been 
 consolidated with the Companys accounts.  No separate profitability 
 statements have been prepared.These accounts are notAudited.These accounts 
 have been adopted based on the Certification of the Branch Head.
 
 9.The Company capitalised product development expenditure to the tune 
 of Rs.2,44,23,535 during F.Y 2006-07 under intangible assets.This has now 
 been written off during the year and debited to prior period expenses.
 
 10.Previous year figures have been regrouped &reclassified to correspond 
 with the current years classification.