1.  Accounting Conventions:
 
 The financial statements are prepared under the historical cost
 convention, on the accrual basis of accounting, in accordance with the
 generally accepted accounting principles in India, the accounting
 standards notified by Companies Accounting Standard Rules, 2006 and the
 relevant provisions of the Companies Act, 1956.
 
 2.  Fixed Assets:
 
 2.1 Fixed assets are recorded at cost less accummulated depreciation.
 
 2.2 Cost includes purchase price and any attributable cost of
 bringingthe assetto its applicable use.
 
 3.  Asset Impairment:
 
 The Company reviews the carrying values of tangible and intangible
 assets for any possible impairment at each Balance Sheet date. An
 impairment loss is recognised when the carrying amount of an asset
 exceeds its recoverable amount. The recoverable amount is the greater
 of the net selling price and value in use. In assessing value in
 use,the estimated future cash flows of the asset are discounted to
 their present value at an appropriate discount rate. Reversal of
 impairment losses recognised in prior years is recorded when there is
 an indication that the impairment losses recognised for the asset no
 longer exist or have decreased. The amount of reversal will be limited
 to recording the asset at the carrying amount that would have been
 determined (net of depreciation) had the impairment loss not been
 recognised for that asset in prior years.
 
 4.  Depreciation:
 
 4.1 Leasehold land is amortised equally overthe period ofthe lease.
 
 4.2 Depreciation on fixed assets including assets created on land and
 office premises under lease is provided on straight line method at the
 rates provided in Schedule XIV to the Companies Act, 1956. Renewal of
 leases is assumed consistent with past practice.
 
 4.3 Fixed assets costing Rs.5 thousand or less are fully depreciated in
 the year of acquisition.
 
 5.  Investments:
 
 5.1 Long Term Investments are carried at cost. Provision for
 dimunition, if any, in the value of each long term investment is made
 to recognise a decline other than of a temporary nature. The fair value
 of a long term investment is ascertained with reference to its market
 value, the investees assets and results and the expected cash flows
 from the investment.
 
 5.2 Current Investments are carried at lower of cost orfair value.
 
 5.3 Profit/loss on sale of investments is computed with reference to
 their average cost.
 
 6.  Inventories:
 
 Inventories of Spares and Consumables are valued at cost or net
 realisable value whichever is lower. Cost includes all charges incurred
 for bringingthe inventories to theirpresent condition and location.
 
 7.  Expenditure During Construction Period:
 
 Expenditure during construction period is included under Capital Work
 in Progress and the same is allocated to the respective fixed assets on
 completion of construction.
 
 8.  Borrowing Cost:
 
 Borrowing costs that are directly attributable to the acquisition/
 construction ofthe underlying fixed assets are capitalised as a part
 ofthe respective asset uptothe date ofthe acquisition/completion of
 construction.
 
 9.  Revenue Recognition:
 
 9.1 Multimodal Transport Income and Multimodal Transport Expenses are
 recognized on the basis of sailing of vessels and completion of
 transport as per contractual terms.
 
 9.2 Income from Container Freight Station Operations relating to export
 containers is accounted on an accrual basis. Container Freight Station
 ground rent charge on Import Stuffed Containers is accounted to the
 extent of recoverability from carriers of containers.  Import cargo
 handling charges are accounted on clearance.
 
 9.3 Revenue and expenses for sale of abandoned cargo are recognized
 when auctioned.Surplus, if any, out of auctions is credited to a
 separate accountAuction Surplus and is shown under Current
 Liabilities. Unclaimed Auction Surplus outstandingfor more than one
 year is written back as income in the subsequent financial year.
 
 9.4 Income of Project & Engineering Solutions is recognized as per
 contractual terms.
 
 10.  Employees Retirement Benefit:
 
 10.1 Retirement benefits in the form of Provident Fund and Family
 Pension Fund which are defined contribution schemes are charged to the
 Profit and Loss Account of the year when the contributions to the
 respective funds accrue.
 
 10.2 Gratuity liability which is a defined benefit scheme is accrued
 and provided for on the basis of an actuarial valuation madeattheendof
 each financial year.
 
 10.3 The expected cost of accumulated compensated absences is
 determined on the basis of actuarial valuation and such liability is
 provided in the accounts.
 
 11.  Employees Stock Options Plan:
 
 The Accounting value of stock options representing the excess of the
 market price over the exercise price of the options granted under
 Employees Stock Options Scheme of the Company is amortised on
 straight-line basis over the vesting period as  Deferred Employees
 Compensation in accordance with SEBI (Employee Stock Option Scheme and
 Employee Stock Purchase Scheme) Guidelines, 1999 as amended from time
 to time.
 
 12.  Taxes on Income:
 
 Current Tax is the amount of tax payable on the assessable income for
 the year determined in accordance with the provisions of the Income
 TaxAct, 1961.
 
 Deferred Tax is recognised on timing differences, being the difference
 between taxable income and accounting income that orignate in one
 period and are capable of reversal in one or more subsequent periods.
 Deferred tax assets on unabsorbed tax losses and tax depreciation are
 recognized only when there is virtual certainty of their realisation
 and on other items when there is reasonable certainty that sufficient
 future taxable income will be available against which such deferred tax
 assets can be realised. The tax effect is calculated on the accumulated
 timing differences at the year end based on the tax rate and laws
 enacted or substantially enacted on the balance sheet date.
 
 Minimum Alternative Tax (MAT) credit is recognized as an asset in
 accordance with the recommendations contained in the Guidance Note
 issued by the Institute ofChartered Accountants of India. The said
 asset is created by way of a credit to the profit and loss account and
 shown as MAT Credit Entitlement. The Company reviews the same at each
 balance sheet date and writes down the carrying amount of MAT Credit
 Entitlement to the extent there is no longer convincing evidence to the
 effect that Company will pay normal Income Tax during the specified
 period.
 
 13.  Foreign Currency Transactions:
 
 Transactions in foreign currency are recorded at the exchange rates
 prevailing on the date of the transaction. Monetary assets and
 liabilities denominated in foreign currency are translated at the year
 end exchange rates. Exchange gains/losses are recognized in the profit
 and loss account. Non Monetary foreign currency items like investment
 in foreign subsidiaries are carried at cost and expressed in Indian
 currency at the rate of exchange prevailing at the time of the original
 transaction.
 
 Forward exchange contracts outstanding as at the period end on account
 of firm commitment/higly probable forecast transaction are marked to
 market and the resultant gain/loss is dealt in the profit and loss
 account.
 
 14.  Leases:
 
 Lease rentals in respect of operating lease arrangements are charged to
 profit and loss account. Initial direct costs in respect of lease are
 expensed in the year in which such costs are incurred. Expenditures
 incurred on improvements to leasehold premises are classified into
 Capital and Revenue. Capital expenditures are classified under Fixed
 assets and Revenue expenditures are debited to profit and loss account.
 
 15.  Segment Reporting:
 
 The Accounting Policies adopted for segment reporting are in line with
 Accounting Policies of the Company. Segment assets include all
 operating assets used by the business segments and consist principally
 of fixed assets and current assets. Segment liabilities include the
 operating liabilities that result from the operating activities of the
 business. Segment assets and liabilities that cannot be allocated
 between the segments are shown as part of unallocated corporate assets
 and liabilities respectively. Income/Expenses relatingtothe enterprise
 as awhole and not allocable on a reasonable basis to business segments,
 are reflected as unallocated corporate income/expenses.