1) The financial statements have been drawn up from April 1, 2010 to
 September 30, 2011 pursuant to the permission granted for the extension
 of the financial year by the Registrar of Companies, Mumbai vide its
 letter dated 12/08/2011.
 
 2) Current period figures are not comparable with the previous year, as
 the current period is for 18 months as against the previous year of 12
 months.
 
 3)     Contingent Liabilities
 
 a)     Bank Guarantees outstanding:            Rs. 73,34,074
 
                                               (Rs. 82,68,897)
 
 
 b)     Letter of Credit Outstanding:           Rs. 65,89,998
 
                                              (Rs. 201,01,840)
 
 
 c)     Imports under Clearance                    345,03,295
 
                                                  (Rs. 35,257)
 
 
 * In view of losses in computation incurred during the year, no
 commission is payable to Managing Director
 
 b) Managerial remuneration under section 198 of the Companies Act,
 1956.
 
 4) There are no amounts due to Small Scale undertakings to whom company
 owed a sum exceeding Rs.1,00,000/- which was outstanding for more than
 30 days as at the end of the financial year.
 
 5) The company has not received any memorandum (as required to be filed
 by the suppliers with the notified authority under the Micro Small and
 Medium Enterprise Development Act, 2006) claiming their status as on
 30th September, 2011 as micro small or medium enterprises. Consequently
 the amount paid/payable to these parties during the financial year is
 nil.
 
 6) Repairs and Maintenance includes a sum of Rs.18,16,115/ - (Previous
 Year Rs.1,08,800/-) towards Repairs and Maintenance of buildings.
 
 7) Deferred Tax
 
 Components of Deferred Tax Balance:
 
 The tax effects of timing difference are reflected through a deferred
 tax asset/liability, which is included in the Balance Sheet.
 
 8) SEGMENT REPORTING
 
 The Company operates in single segment viz. Analytical Instruments, its
 accessories and services. There is no other reportable segment as per
 Accounting Standard -17.
 
 9) UTILISATION OF THE MONEY RAISED BY GDR
 
 The Company has raised an amount of Rs.337,795,000/- by way of issue
 of 67,55,900 GDR on 19th April, 2010. The Company has invested a sum of
 Rs. 4,71,779/- towards 100% Equity Capital of Ashco Niulab FZE, wholly
 owned subsidiary company. Further an amount of Rs.49,53,81,509/- has
 been issued to the subsidiary towards advance for conduct overseas
 business.
 
 10) RELATED PARTY TRANSACTIONS
 
 Pursuant to Accounting Standard -18, issued by The Institute of
 Chartered Accountants of India, the names of related parties and nature
 of relationship and particulars of transactions with the said related
 parties during the year are as under:
 
 11) Additional information pursuant to the provisions of paragraphs 3,
 4(C) and 4(D) of Part II and of Schedule VI of the Companies Act, 1956:
 
 e) VALUE OF IMPORTED AND INDIGENOUS RAW MATERIALS, STORES AND SPARES
 CONSUMED AND PERCENTAGE THEREOF TO TOTAL CONSUMPTION.
 
 12) In the opinion of the Board of Directors, all the current assets,
 loans and advances have value on realization at least of an amount
 equal to the amount at which they are stated in the Balance Sheet.
 
 13) Comparative financial information (i.e. amounts and other
 disclosures for the previous year presented above as corresponding
 figures), is included as an integral part of current period''s financial
 statements, and it is to be read in relation to the amounts and other
 disclosures relating to the current period. Figures of the previous
 year have been regrouped/ reclassified wherever necessary to correspond
 to figures of the current period.
 
 14) Figures have been rounded off to the nearest rupee.
 
 15) Figures in bracket are in respect of previous year.