(All amounts in rupees thousands, unless otherwise specified)
 
 1 BACKGROUND
 
 ALSTOM Projects India Limited (APIL or the Company) is a publicly
 owned Company, incorporated on 2 September 1992 as Asea Brown Boveri
 Management Limited, registered with the Registrar of Companies,
 Maharashtra.
 
 Its business includes a composite range of activities engineering,
 procurement, manufacturing, construction and servicing etc. of power
 plants and power equipments and transportation systems covering
 traction, signalling and train control for the railways and metros.
 
 2 CONTINGENT LIABILITIES NOT PROVIDED FOR
 
 a) Demand raised by sales tax and excise authorities levying sales tax
 / works contract tax / excise duty in cases of disputes regarding
 divisibility of contracts with the customers for supply and erection /
 installation of goods and others - Rs. 250,637 thousand (previous year
 - Rs. 251,604 thousand)
 
 b) Demand raised by Durgapur Power Limited on delayed payment of
 electricity bills - Nil (previous year - Rs. 19,000 thousand).
 
 c) Various other claims not acknowledged as debts Rs. 1,373 thousand
 (previous year - Rs. 6,250 thousand).
 
 Based on the favourable decision in similar cases / legal opinions
 taken by the Company / discussions with the solicitors etc., the
 Company believes that it has good cases in respect of all the items
 listed under (a) and (c) above and hence no provision there against is
 considered necessary.
 
 3 SEGMENT INFORMATION
 
 3.1 Primary segment reporting - Business segments
 
 The Companys business segments are classified into Power and
 Transport.
 
 3.1.1 Power segment
 
 This segment is engaged in the business of engineering, procurement and
 construction of power plants. It also manufactures steam raising plant,
 ancillary equipment, parts of steam generator, pressures vessels and
 pulverizers.
 
 3.1.2 Transport segment
 
 This segment is engaged in the business of designing, manufacturing,
 supplying and supporting large scale transportation systems including
 traction, signalling and train control.
 
 3.2 Inter segment transfers
 
 Segment revenues, segment expenses and segment results include
 transfers between business segments, that are made based on negotiation
 between segments with reference to the costs, market prices and
 business risks, within the overall optimisation objective for the
 Company and are comparable with competitive market prices charged to
 external customers.  Inter-segment transfers are eliminated on
 consolidation.
 
 3.3 Allocation of common costs
 
 Common allocable costs are allocated to each segment according to the
 relative contribution of each segment to the total common costs.
 
 3.4 Unallocated items
 
 Includes general corporate income and expense items, which are not
 allocated to any business segment.
 
 3.5 Secondary segment reporting -- Geographical segments
 
 The analysis of geographical segments is based on the geographical
 location of the customers.
 
 4 RELATED PARTY DISCLOSURES
 
 4.1 List of related parties
 
 4.1.1 Parties with whom control exists:
 
 ALSTOM Holdings      (Ultimate Holding Company)
 
 ALSTOM Finance BV    (Holding Company)
 
 4.1.2 Parties controlled by the Company (Subsidiaries)
 
 ALSTOM Power Boilers Services Limited
 
 4.1.3 Other related parties with whom transactions have taken place
 during the year (fellow subsidiaries)
 
 ALSTOM (Switzerland) Ltd, ALSTOM Asia Pacific Sdn Bhd, ALSTOM Austria
 GmbH, ALSTOM Belgium SA, ALSTOM Bharat Forge Power Limited, ALSTOM
 Brasil Energia E Transporte Ltda, ALSTOM Bulgaria Eood, ALSTOM
 Deutschland AG, ALSTOM Egypt Power & Transp Projects SAE, ALSTOM
 Ferroviaria S.P.A, ALSTOM Finance BV, ALSTOM General Turbo SA, ALSTOM
 Holdings, ALSTOM Hydro (Switzerland) Ltd, ALSTOM Hydro Austria GmbH,
 ALSTOM Hydro Equipamentes, ALSTOM Hydro France, ALSTOM Hydro R&D India
 Limited, ALSTOM Hydro Spain S.L., ALSTOM i.ydro Sweden Ab, ALSTOM India
 Limited, ALSTOM Information Tech. Centre SAS. ALSTOM Ltd, ALSTOM
 Mexicana S.A. De C.V., ALSTOM Norway AS, ALSTOM Power Centrales,
 France, ALSTOM Power Consulting AG, ALSTOM Power Hydraulique, ALSTOM
 Power Inc USA, ALSTOM Power Inc., ALSTOM Power Italia Spa, ALSTOM Power
 Nederland B.V., ALSTOM Power Romania, ALSTOM Power Service, ALSTOM
 Power Service (Hong Kong) Limited, ALSTOM Power Service (Pty) Limited,
 ALSTOM Power Service GmbH, ALSTOM Power Sp.Z O.O., ALSTOM Power Sweden
 AB, ALSTOM Power Systems GmbH, ALSTOM Power Systems SA, ALSTOM SA,
 ALSTOM Services Sdn Bhd, ALSTOM Signalling Inc., ALSTOM Hydro R&D India
 Limited, ALSTOM Technical Service Shanghai, ALSTOM Technology Ltd,
 ALSTOM Transport (S) Pte Ltd, ALSTOM Transport BV, ALSTOM Transport SA,
 ALSTOM Vannkraft AS, Areva T&D India Limited, NTPC ALSTOM Power
 Services Private Ltd, Pt ALSTOM Power Energy Systems Indonesia, Tianjin
 ALSTOM Hydro Co. Ltd.
 
 4.1.4 Key managerial personnel (KMP)
 
 Mr. Francois Carpentier - Vice Chairman & Managing Director
 
 Mr. S.M. Momaya         - Whole-time Director & Chief 
                           Financial Officer
 
 5 LEASE COMMITMENTS
 
 5.1 Operating leases
 
 Lease payments of Rs. 374,640 thousand (previous year - Rs. 375,173
 thousand) have been recognised as an expense in the profit and loss
 account for the year ended 31 March 2011.
 
 There is no contingent rent in the lease agreements. The lease term is
 for 1-9 years and is renewable at the mutual agreement of both the
 parties. There is no escalation clause in the lease agreements (other
 than those disclosed above).  There are no restrictions imposed by
 lease arrangements. There are no subleases.
 
 6 SUPPLEMENTARY PROFIT AND LOSS DATA 9.1 Capacities, production and
 stock
 
 The Companys products are exempt from licensing requirement under the
 new industrial policy by virtue of notification No 477 (E) of 25.07.91
 
 Previous year figures are in brackets
 
 Capacities
 
 Installed capacities are as certified by the management, but not
 verified by the auditors, being a technical matter.
 
 Production
 
 a) Production of finished goods is inclusive of production for captive
 use.
 
 b) Others represent internally manufactured components, meant for
 sale. Since the quantitative denominations of these items are
 dissimilar, it would be impracticable to disclose the quantitative
 information in respect thereof.
 
 Inventories
 
 The finished goods and work-in-progress at the beginning of the year
 amounted to Rs. 4,290 thousands and Rs. 1,806,211 thousands
 respectively (previous year Rs. 4,683 thousands and Rs. 436,533
 thousands).
 
 7. Managerial remuneration
 
 Whole time directors are covered under the Companys gratuity and leave
 encashment scheme along with the other employees of the Company. The
 gratuity/ leave encashment liability is determined for all employees on
 an independent actuarial valuation. The specific amount of gratuity/
 leave encashment for whole time directors cannot be ascertained
 separately and accordingly the same has not been included above.
 
 8. Acceptances
 
 Total outstanding dues to creditors other than Small and Micro
 enterprises include acceptances Rs. 124,321 thousand (previous year Rs.
 60,673 thousand).
 
 9 GRATUITY AND OTHER POST-EMPLOYMENT BENEFIT PLANS
 
 The Company has a defined benefit gratuity plan. Every employee who has
 completed five years or more of service gets a gratuity on departure at
 15 days salary (last drawn salary) for each completed year of service.
 The scheme is funded with an insurance company in the form of a
 qualifying insurance policy.
 
 The following tables summarise the components of net benefit expense
 recognised in the profit and loss account and the funded status and
 amounts recognised in the balance sheet for the respective plans.
 
 included in the head Contribution to Provident and Other Funds.
 
 Notes:
 
 a) Information relating to experience adjustment in the actuarial
 valuation of gratuity as required by Para 120(n)(ii) of the Accounting
 Standard 15 on Employee Benefits is not available with the Company.
 
 b) The Companys expected contribution to the fund in the next year is
 not presently ascertainable and hence, the contribution expected to be
 paid to the plan during the annual period beginning after the balance
 sheet date as required by para 120 (o) of the Accounting Standard - 15
 on Employee Benefits are not disclosed.
 
 c) Pending issuance of the Guidance Note from the Actuarial Society of
 India, the companys actuary has expressed his inability to reliably
 measure the provident fund liability. Accordingly, no additional
 disclosures as required by Paragraph 120 of AS 15 have been furnished.
 
 10 DISCLOSURE REQUIRED BY ACCOUNTING STANDARD (AS) 29 PROVISIONS,
 CONTINGENT LIABILITIES AND CONTINGENT ASSETS
 
 Description Opening Balance Provisions made Provisions utilised /
 Closing Balance during the year reversed during the year Provision for
 Warranty 155,248 157,089 (73,087) 239,250
 
 Provision for Warranty represents estimated costs that the Company is
 likely to incur during warranty periods as per the contract obligations
 in respect of completed construction contracts accounted under AS 7
 (Revised) Construction Contracts.  Warranty costs are estimated on
 the basis of contractual agreement, technical evaluation and past
 experience. The timing of outflows is expected to be as per warranty
 periods as specified in various contracts.
 
 11 PRIOR YEAR COMPARATIVES
 
 Previous year amounts have been regrouped/reclassified, wherever
 necessary, to conform with current years presentation.