(Rs. in Crores)
                                              2010-2011      2009-2010
 
 1. Estimated amount of contracts remaining 
 to be executed on capital account and not
 provided for.                                 298.81         36.87
 
 2. Letters of Credit and Bank guarantees 
 issued by bankers and outstanding as on
 31st March, 2011.                              54.86         33.19
 
 3.  Contingent Liabilities:
 
 a) Guarantee given on behalf of Companys 
 dealers in respect of loans granted to 
 them by a bank for acquiring dealer 
 tinting systems.                                5.33         11.41
 
 b)   Corporate guarantees issued by the 
 Company to certain banks on behalf of 
 some of its subsidiaries.                     130.60        128.79
 
 c) The Company has issued letters of comfort/support to banks on behalf
 of some of its subsidiaries from time to time and the financial
 support/comfort based on such letters is limited to: 
                                                63.11         77.18
 
 The Company has also issued a letter to the Board of a subsidiary
 informing its commitment to continue extending corporate guarantees and
 letters of comfort for banking facilities as included in the above for
 a period upto 15th May, 2012.
 
 d) Claims against the Company not acknowledged as debts
 
 i.  Tax matters in dispute under appeal 65.02 41.50
 
 ii.  Others.  6.11 5.23
 
 16.  Interest income includes interest received of Rs. 5.05 crores on
 account of completion/disposal of various assessments/ appeals during
 the year (Previous year - ^ 3.47 Crores).
 
 17.  Disclosure under the Micro, Small and Medium Enterprises
 Development Act, 2006 are provided as under for the year 2010-11, to
 the extent the Company has received intimation from the Suppliers
 regarding their status under the Act.
 
 18.  Profit on sale of fixed assets includes Rs. 1.34 crores (Previous
 year ^ 6.06 crores) arising out of the sale of colour world machines on
 expiry of lease period.
 
 19.  Exceptional Item of previous year includes :
 
 a) Rs. 5.77 crores being the write back of provision for diminution in
 the value of investments in the Companys wholly owned subsidiary Asian
 Paints (International) Limited, Mauritius in consequent to the buy back
 of 41,00,000 shares at US$ 1 per share by Asian Paints (International)
 Limited.
 
 b) Rs. 19.69 crores being the reversal of provision made towards
 diminution in the value of investments.
 
 20.  The Company uses forward exchange contracts to hedge against its
 foreign currency exposures relating to the underlying transactions and
 firm commitments. The Company does not enter into any derivative
 instruments for trading or speculative purposes.
 
 22. The Company has recognised deferred tax arising on account of
 timing differences, being the difference between the taxable income and
 accounting income, that originates in one period and is capable of
 reversal in one or more subsequent period(s) in compliance with
 Accounting Standard (AS 22) - Accounting for Taxes on income.
 
 23.  I.  Pursuant to Accounting Standard (AS-19) - Leases, the
 following information is given :
 
 a) The Company has provided tinting systems to its dealers on an
 operating lease basis. The lease period varies between four and ten
 years. Lease rentals are payable monthly by the dealers. A refundable
 security deposit is collected at the time of signing the agreement. The
 equipment shall be used only to tint products of the lessor.
 
 24.  Pursuant to Accounting Standard (AS-27) - Financial Reporting of
 Interests in Joint Venture, the disclosures relating to the Joint
 Venture viz. Asian PPG Industries Limited (hereinAfter referred to as
 JV) are as follows:
 
 a) The proportion of interest of the Company in the JV is by way of
 equal equity participation with PPG Industries Inc., U.S.A.
 
 c) The Companys share of capital commitments of the JV as at 31st
 March, 2011 is Rs. 1.22 crores (Previous year Rs. 0.98 crores).
 
 d) The Companys share of contingent liabilities of the JV as at 31st
 March, 2011 is Rs. 6.71 crores (Previous year Rs. 6.02 crores).
 
 e) No contingent liabilities and capital commitments have been incurred
 as at 31st March, 2011 in relation to the Companys interests in the JV
 along with the other venturer (Previous year ^ Nil).
 
 25.  Employee Benefits:
 
 (1) Short term employee benefits:
 
 The liability towards short-term employee benefits for the year ended
 31st March, 2011 has been recognised in the Profit and Loss Account.
 
 (a) Joint Venture : Asian PPG Industries Ltd.  Subsidiary of Joint
 Venture: Faaber Paints Pvt. Ltd.
 
 (b) Subsidiaries : Direct Subsidiaries :
 
 Asian Paints (Nepal) Pvt. Limited
 
 Asian Paints (International) Limited
 
 Asian Paints Industrial Coatings Limited
 
 Maxbhumi Developers Limited
 
 Multifacet Infrastructure (India) Limited
 
 AP Coatings Limited (Incorporated on 30th November, 2010)
 
 Subsidiaries of the wholly owned subsidiary, Asian Paints
 (International) Limited, Mauritius:
 
 Asian Paints (South Pacific) Limited
 
 Samoa Paints Limited (Acquired during the year from Taubmans Paints
 (Fiji) Limited)
 
 Asian Paints (Tonga) Limited
 
 Asian Paints (S.I.) Limited
 
 Asian Paints (Vanuatu) Limited
 
 Asian Paints (Lanka) Limited
 
 Asian Paints (Bangladesh) Limited
 
 Asian Paints (Middle East) LLC.
 
 SCIB Chemicals S.A.E., Egypt
 
 Berger International Limited, Singapore
 
 Subsidiary of Asian Paints (South Pacific) Limited :
 
 Taubmans Paints (Fiji) Limited *
 
 * The Company ceased trading and has transferred its assets,
 liabilities and business to shareholder Asian Paints (South Pacific)
 Limited, but it still continues to remain a separate legal entity
 pending legal formalities.
 
 Subsidiaries of Berger International Limited, Singapore :
 
 Berger Paints Singapore Pte. Ltd.
 
 Berger Building Services (Singapore) Pte. Ltd.
 
 Enterprise Paints Limited
 
 Universal Paints Limited
 
 Lewis Berger (Overseas Holdings) Ltd.
 
 Subsidiary of Berger Building Services (Singapore) Pte. Ltd. :
 
 Berger Contractor (Singapore) Pte. Ltd.
 
 Subsidiary of Enterprise Paints Limited :
 
 Nirvana Investments Ltd.
 
 Subsidiary of Nirvana Investments Ltd. :
 
 Berger Paints Emirates Ltd.
 
 Subsidiaries of Lewis Berger (Overseas Holdings) Ltd. :
 
 Berger Paints Jamaica Ltd.  Berger Paints Trinidad Ltd.  Berger Paints
 Barbados Ltd.
 
 Subsidiary of Universal Paints Limited :
 
 Berger Paints Bahrain W.L.L.
 
 (c) Key managerial person :
 
 Name of the Director Designation
 
 P. M. Murty Managing Director & CEO
 
 (d) Promoters and their relatives having control :
 
 Directors: Designation:
 
 Ashwin Choksi Non-Executive Chairman
 
 Ashwin Dani Non-Executive Vice Chairman
 
 Abhay Vakil Non-Executive Director
 
 Mahendra Choksi Non-Executive Director
 
 Amar Vakil Non-Executive Director
 
 Ina Dani* Non-Executive Director
 
 Hasit Dani Non-Executive Director (resigned on 3rd June, 2010)
 
 * Mrs. Ina Dani has been appointed as an Additional Director w.e.f.
 27th July, 2010.
 
 Relatives of promoters, who are under the employment of the Company :
 
 Jalaj Dani
 
 Manish Choksi
 
 Jigish Choksi
 
 Nehal Vakil (resigned on 30th July, 2010)
 
 Varun Vakil (w.e.f 16th July, 2010)
 
 (f) Employee Benefit Funds where control exists :
 
 Asian Paints Office Provident Fund
 
 Asian Paints Factory Employees Provident Fund
 
 Asian Paints Management Cadres Superannuation Scheme
 
 Asian Paints (India) Limited Employees Gratuity Fund
 
 (g) Other entities over which there is a significant control:
 
 Asian Paints Charitable Trust
 
 29.  Previous years figures have been regrouped, wherever necessary.