1.1 Basis of Preparation
 
 These financial statements have been prepared to comply in all material
 aspects with the accounting standards notified under Section 211(3C)
 [Companies (Accounting Standards) Rules, 2006, as amended] and other
 relevant provisions of the Companies Act, 1956. These financial
 statements have been prepared in accordance with the generally accepted
 accounting principles in India under the historical cost convention on
 accrual basis, except for certain tangible assets which are being
 carried at revalued amounts.
 
 All assets and liabilities have been classified as current or
 non-current as per the Company''s operating cycle and other criteria set
 out in the Revised Schedule VI to the Companies Act, 1956. Based on the
 nature of products and the time between the acquisition of assets for
 processing and their realisation in cash and cash equivalents, the
 Company has ascertained its operating cycle as 12 months for the
 purpose of current - non-current classification of assets and
 liabilities except for projects business. The projects business
 comprises of long-term contracts which have an operating cycle
 exceeding one year and for classification of current assets and
 liabilities related to projects business, the Company decided to use
 the duration of the individual life cycle of the contracts as its
 operating cycle.
 
 1.2 Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles (GAAP) requires management to make best
 estimates and assumptions that affect the reported amounts of assets
 and liabilities and the disclosure of contingent liabilities as at the
 date of the financial statements and the results of operations during
 the reporting period. Actual results could differ from these estimates.
 Any revision to accounting estimates is recognised prospectively in the
 current and future periods.
 
 1.3 Tangible Assets and Depreciation
 
 Tangible assets are stated at acquisition cost (or revalued amounts,
 which are shown at estimated replacement cost as determined by the
 valuers), net of accumulated depreciation and accumulated impairment
 losses, if any. Special tools are capitalised as plant and machinery.
 Cost comprises purchase price and any other attributable cost of
 bringing the asset to its working place and condition for its intended
 use.
 
 Subsequent expenditures related to an item of fixed asset are added to
 its book value only if they increase the future benefits from the
 existing asset beyond its previously assessed standard of performance.
 
 The cost of fixed assets not ready for their intended use is recorded
 as capital work-in-progress before such date. Cost of construction that
 relate directly to specific fixed assets and that are attributable to
 construction activity in general and can be allocated to specific fixed
 assets are included in capital work-in-progress.
 
 Items of fixed assets that have been retired from active use and are
 held for disposal are stated at the lesser of their net book value and
 net realisable value and are shown separately in the financial
 statements. Any expected loss is recognised immediately in the
 Statement of Profit and Loss.
 
 Losses arising from the retirement of, and gains or losses arising from
 disposal of fixed assets which are carried at cost are recognised in
 the Statement of Profit and Loss.
 
 Tangible assets, other than land, but including revalued buildings, are
 depreciated on a pro-rata basis based on the straight-line method over
 the estimated useful lives of the assets, at the following annual rates
 which are equal to or higher than the rates specified under Schedule
 XIV to the Companies Act, 1956:
 
 Leasehold assets are amortised over the period of the lease or the
 estimated useful life whichever is lesser. Assets costing below
 Rs.5,000/- are fully depreciated in the year of acquisition. In respect
 of the revalued assets, the difference between the depreciation
 calculated on the revalued amount and that calculated on the original
 cost is recouped from the revaluation reserve account.
 
 1.4 Intangible Assets and Amortisation
 
 Intangible Assets are stated at acquisition cost, net of accumulated
 amortisation and accumulated impairment losses, if any.  Intangible
 assets are amortised on a straight line basis over their estimated
 useful lives.
 
 The amortisation period and the amortisation method are reviewed at
 least at each financial year end. If the expected useful life of the
 asset is significantly different from previous estimates, the
 amortisation period is changed accordingly.
 
 Gains or losses arising from the retirement or disposal of an
 intangible asset are determined as the difference between the net
 disposal proceeds and the carrying amount of the asset and recognised
 as income or expense in the Statement of Profit and Loss.
 
 The amortisation rate used is:
 
 Asset Percentage
 
 Goodwill 20.00
 
 1.5 Impairment
 
 Assessment is done at each Balance Sheet date as to whether there is
 any indication that an asset (tangible and intangible) may be impaired.
 For the purpose of assessing impairment, the smallest identifiable
 group of assets that generates cash inflows from continuing use that
 are largely independent of the cash inflows from other assets or groups
 of assets, is considered as a cash generating unit. If any such
 indication exists, an estimate of the recoverable amount of the
 asset/cash generating unit is made.  Assets whose carrying value
 exceeds their recoverable amount are written down to the recoverable
 amount. Recoverable amount is higher of an asset''s or cash generating
 unit''s net selling price and its value in use. Value in use is the
 present value of estimated future cash flows expected to arise from the
 continuing use of an asset and from its disposal at the end of its
 useful life. Assessment is also done at each Balance Sheet date as to
 whether there is any indication that an impairment loss recognised for
 an asset in prior accounting periods may no longer exist or may have
 decreased.
 
 1.6 Foreign currency transactions
 
 Initial Recognition and Settlement: On initial recognition, all foreign
 currency transactions are recorded by applying to the foreign currency
 amount the exchange rate between the reporting currency and the foreign
 currency at the date of the transaction. Any gain or loss arising due
 to exchange fluctuation at the time when such transactions are settled
 is recognised in the Statement of Profit and Loss.
 
 Subsequent Recognition: As at the reporting date, non-monetary items
 which are carried in terms of historical cost denominated in a foreign
 currency are reported using the exchange rate at the date of the
 transaction. All non-monetary items which are carried at fair value or
 other similar valuation denominated in a foreign currency are reported
 using the exchange rates that existed when the values were determined.
 
 All monetary assets and liabilities in foreign currency are restated at
 the end of accounting period using the closing rate. Exchange
 differences on restatement of monetary items are recognised in the
 Statement of Profit and Loss.
 
 Translation of foreign operations: Branches located outside India have
 been classified as integral foreign operation. The financial
 statements of an integral foreign operation are translated using the
 principles and procedures as if the transactions of the foreign
 operation are those of the Company itself.
 
 1.7 Forward Exchange Contracts / Derivative Instruments
 
 The Company uses derivative financial instruments, such as forward
 exchange contracts, to hedge the risks associated with foreign currency
 fluctuations relating to certain firm commitments and highly probable
 transactions. The use of forward contracts is governed by the Company''s
 policies on the use of such financial derivatives consistent with the
 Company''s risk management strategy.
 
 In cases where the Company has entered into forward exchange contracts,
 which are not intended for trading or speculative purposes and covered
 under Accounting Standard 11 on ''The Effects of Changes in Foreign
 Exchange Rates'', the difference between the forward rate and the
 initial spot rate is recognised as an income or expense over the life
 of the contract. Exchange gains / losses on intermediary forward
 contracts relating to firm commitments are recognised in the Statement
 of Profit and Loss based on fair value changes as at the Balance Sheet
 date.
 
 In line with the principle of prudence as enunciated in Accounting
 Standard 1 on ''Disclosure of Accounting Policies'' and as per the
 Announcement of the Institute of Chartered Accountants of India issued
 on March 29, 2008, the other foreign exchange contracts entered into
 and not intended for trading or speculative purposes, are valued on the
 basis of a fair value on marked to market basis and any loss on
 valuation is recognised in the Statement of Profit and Loss, on a
 portfolio basis. Any gain arising on this valuation is not recognised
 by the Company.
 
 Any profit or loss arising on cancellation or renewal of the forward
 exchange contracts is recognised as income or expense for the year.
 
 1.8 Inventories
 
 Inventories comprising of raw materials and components,
 work-in-progress, finished goods and stores and spares are valued at
 lower of cost and net realisable value. Cost includes cost of purchase
 (net of CENVAT, where applicable), cost of conversion and other costs
 incurred in bringing the inventories to their present location and
 condition. The cost of various categories of inventories is arrived at
 as follows:
 
 - Stores, spares, raw materials and components - at cost determined
 on the weighted average cost method
 
 - Work-in-progress and finished goods - based on weighted average
 cost of production, including appropriate proportion of costs of
 conversion. Excise duty payable on despatch is included in the value of
 finished goods inventory
 
 - Packing materials, loose tools and consumables, being immaterial in
 value terms, and also based on their being purchased mostly on need
 basis, are expensed to the Statement of Profit and Loss at the point of
 purchase
 
 Contracts work-in-progress is valued at cost or net realisable value,
 whichever is lower. Cost includes direct materials, labour and
 appropriate proportion of overheads including depreciation.
 
 Net realisable value is the estimated selling price in the ordinary
 course of business, less the estimated costs of completion and
 estimated costs necessary to make the sale.
 
 Provisions / write-downs for obsolescence, damaged and slow-moving
 inventory are made, wherever necessary and inventory is stated net of
 such provisions / write-downs.
 
 1.9 Revenue recognition
 
 1.9.1 Revenue from long-term contracts
 
 Contract prices are either fixed or subject to price escalation
 clauses. Revenues are recognised on a percentage completion method
 measured by segmented portions of the contract, i.e. Contract
 Milestones. The relevant cost is recognised in the financial
 statements in the year of recognition of revenues. Recognition of
 profit is adjusted to ensure that it does not exceed the estimated
 overall contract margin. Contract revenue earned in excess of billing
 has been included under Other Current Assets and billing in excess of
 contract revenue has been included under Other Current Liabilities in
 the Balance Sheet.
 
 If it is expected that a contract will make a loss, the estimated loss
 is provided for in the books of account immediately. Such losses are
 based on technical assessments and on management''s analysis of the
 risks and exposures on a case to case basis.
 
 Amounts due in respect of price escalation claims and / or variation in
 contract work are recognised as revenue only if the contract allows for
 such claims or variations and / or there is evidence that the customer
 has accepted it and it is probable that these will result in revenue
 and are capable of being reliably measured.
 
 Liquidated damages / penalties, warranties and contingencies are
 provided for, based on management''s assessment of the estimated
 liability, as per contractual terms and / or acceptance.
 
 1.9.2 Revenue from sale of products and services
 
 Sale of products are recognised in accordance with the terms of
 contract which corresponds to transfer of significant risk and rewards
 of ownership and are net of sales tax and trade discounts. Sale of
 services are recognised when such services are rendered as per contract
 terms which may be either percentage of completion method or completed
 service method.
 
 1.10 Other Income
 
 1.10.1 Interest income is recognised on a time proportion basis taking
 into account the amount outstanding and the rate applicable.
 
 1.10.2 Export benefits are accounted for to the extent there is
 reasonable certainty of utilisation of the same, at the estimated
 realisable value / actual credit earned during the year.
 
 1.11 Employee Benefits
 
 Provident Fund: Contributions towards provident fund for certain
 employees are made to the Regional Provident Fund Commissioner under a
 defined contribution plan and are expensed to the Statement of Profit
 and Loss as and when such contributions are due. The Company has no
 further obligation under the above fund plans beyond its monthly
 contributions.
 
 In respect of certain other employees, Provident Fund contributions are
 made to a Trust administered by the Company. The Company''s liability is
 actuarially determined (using the projected unit credit method) at the
 end of the year. Actuarial losses/ gains are recognised in the
 Statement of Profit and Loss in the year in which they arise. The
 contributions made by the Company are invested by the Trust and
 recognised as plan assets. The defined benefit obligation recognised in
 the Balance Sheet represents the present value of the defined benefit
 obligation as reduced by the fair value of plan assets.
 
 Gratuity: Gratuity liability is a defined benefit obligation and is
 provided on the basis of its actuarial valuation based on the projected
 unit credit method made at each Balance Sheet date. The Company funds
 gratuity benefits for its employees within the limits prescribed under
 The Payment of Gratuity Act, 1972 through contributions to a Scheme
 administered by the Life Insurance Corporation of India (''LIC''). In
 case of managerial employees, in addition to the ceiling defined under
 the Gratuity Act, certain additional amounts are paid depending upon
 the period served for the Company. This additional gratuity liability
 is also determined on the basis of its actuarial valuation based on the
 projected unit credit method as on the Balance Sheet date. Such
 liability is not funded.
 
 Superannuation Fund: Contributions are made to a scheme administered by
 the Life Insurance Corporation of India to discharge superannuating
 liabilities to the employees, a defined contribution plan, and the same
 is expensed to the Statement of Profit and Loss. The Company has no
 liability other than its annual contribution.
 
 Compensated Absences: Long term compensated absences are provided for
 on the basis of its actuarial valuation as per the projected unit
 credit method as on the Balance Sheet date. Actuarial gains and losses
 arising from effects of changes in actuarial valuations are recognised
 in the Statement of Profit and Loss in the period in which they arise.
 
 Voluntary Separation Schemes: In the case of Voluntary Separation
 Schemes which may be offered to employees on closure of Business Units,
 lump sum separation payouts are expensed when the Scheme is accepted by
 an employee. In respect of Schemes where payments are to be made over a
 longer period till the age of retirement or death of an employee,
 whichever is earlier, the liability is estimated at each Balance Sheet
 date and interest implicit in the payout is expensed during the period.
 
 Deferred Incentive Plan: During the current year, the Company has
 introduced a new incentive plan namely ''Deferred Incentive Plan (DIP)''
 for managerial employees to retain and attract experienced talent.
 Under this plan, employees will receive four annual independent grants
 effective from August 2012, which will be paid over a pre-determined
 period starting from the following year.  Each pay-out is independently
 amortised over a period from grant date to final pay-out date.
 Additionally, the Company''s liability is actuarially determined (using
 the projected unit credit method) at the end of each year. Actuarial
 gains and losses arising from effects of changes in actuarial
 valuations are recognised in the Statement of Profit and Loss in the
 period in which they arise.
 
 1.12 Leases
 
 Leases in which a significant portion of the risks and rewards of
 ownership are retained by the lessor are classified as operating
 leases. Payments made under operating leases are charged to the
 Statement of Profit and Loss on a straight-line basis over the period
 of the lease.
 
 1.13 Investments
 
 Long-term investments are carried at cost. However, provision for
 diminution is made to recognise a decline, other than temporary, in the
 value of the investments.
 
 1.14 Current and Deferred Tax
 
 Tax expense for the period, comprising current tax and deferred tax,
 are included in the determination of the net profit or loss for the
 period. Current tax is measured at the amount expected to be paid to
 the tax authorities in accordance with the taxation laws prevailing in
 the respective jurisdictions.
 
 Deferred tax is recognised for all the timing differences, subject to
 the consideration of prudence in respect of deferred tax assets.
 Deferred tax assets are recognised and carried forward only to the
 extent that there is a reasonable certainty that sufficient future
 taxable income will be available against which such deferred tax assets
 can be realised. In a situation where the Company has unabsorbed
 depreciation or carry forward tax losses, deferred tax assets are
 recognised only if there is a virtual certainty supported by convincing
 evidence that such deferred tax assets can be realised against future
 taxable profits. Deferred tax assets and liabilities are measured using
 the tax rates and tax laws that have been enacted or substantively
 enacted by the Balance Sheet date. At each Balance Sheet date, the
 Company re-assesses unrecognised deferred tax assets, if any.
 
 Current tax assets and current tax liabilities are offset when there is
 a legally enforceable right to set off the recognised amounts and there
 is an intention to settle the asset and the liability on a net basis.
 Deferred tax assets and deferred tax liabilities are offset when there
 is a legally enforceable right to set off assets against liabilities
 representing current tax and where the deferred tax assets and the
 deferred tax liabilities relate to taxes on income levied by the same
 governing taxation laws.
 
 1.15 Provisions and Contingencies
 
 Provisions: Provisions are recognised when there is a present
 obligation as a result of a past event, it is probable that an outflow
 of resources embodying economic benefits will be required to settle the
 obligation and there is a reliable estimate of the amount of the
 obligation. Provisions are measured at the best estimate of the
 expenditure required to settle the present obligation at the Balance
 Sheet date and are not discounted to its present value.
 
 Contingencies: Contingent liabilities are disclosed when there is a
 possible obligation arising from past events, the existence of which
 will be confirmed only by the occurrence or non occurrence of one or
 more uncertain future events not wholly within the control of the
 Company or a present obligation that arises from past events where it
 is either not probable that an outflow of resources will be required to
 settle or a reliable estimate of the amount cannot be made. Contingent
 assets are not recognised in the financial statements.
 
 1.16 Earnings per share
 
 Basic earnings per share is calculated by dividing the net profit or
 loss for the period attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the period.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of shares outstanding during the period is
 adjusted for the effects of all dilutive potential equity shares.
 
 1.17 Technology licence fee
 
 Technology licence fee is expensed in the year in which it is incurred.
 
 1.18 Borrowing costs
 
 General and specific borrowing costs directly attributable to the
 acquisition, construction or production of qualifying assets, which are
 assets that necessarily take a substantial period of time to get ready
 for their intended use or sale, are added to the cost of those assets,
 until the month in which such assets are substantially ready for their
 intended use or sale. All other borrowing costs are recognised in
 Statement of Profit and Loss in the period in which they are incurred.
 
 1.19 Cash and Cash Equivalents
 
 In the cash flow statement, cash and cash equivalents includes cash in
 hand, demand deposits with banks, other short-term highly liquid
 investments with original maturities of three months or less.