1.  Basis of accounting and preparation of financial statements
 
 The financial statements are prepared and presented under the
 historical cost convention, on the accrual basis of accounting and in
 accordance with the provisions of the Companies Act, 1956 (''the Act''),
 and'' the accounting principles generally accepted in India and comply
 with the accounting standards prescribed in the Companies (Accounting
 Standards) Rules, 2006 issued by the Central Government, in
 consultation with the National Advisory Committee on Accounting
 Standards, to the extent applicable.
 
 The Revised Schedule VI has become effective from 1 April, 2011 for the
 preparation of financial statements.  This has significantly impacted
 the disclosure and presentation made in the financial statements.
 Previous year''s figures have been regrouped / reclassified wherever
 necessary to correspond with the current year''s classification /
 disclosure.
 
 2.  Use of estimates
 
 The preparation of the financial statements in conformity with Indian
 GAAP requires the Management to make estimates and assumptions
 considered in the reported amounts of assets and liabilities (including
 contingent liabilities) and the reported income and expenses during the
 year. The Management believes that the estimates used in preparation of
 the financial statements are prudent and reasonable. Future results
 could differ due to these estimates and the differences between the
 actual results and the estimates are recognized in the periods in which
 the results are known / materialize.
 
 3.  Inventories
 
 Inventories are valued at cost as per FIFO basis.
 
 4.  Cash and cash equivalents
 
 Cash comprises cash on hand and demand deposits with banks. Cash
 equivalents are short-term balances (with an original maturity of three
 months or less from the date of acquisition), highly liquid investments
 that are readily convertible into known amounts of cash and which are
 subject to insignificant risk of changes in value.
 
 5.  Cash flow statement
 
 Cash flows are reported using the indirect method, whereby profit /
 (loss) before extraordinary items and tax is adjusted for the effects
 of transactions of non-cash nature and any deferrals or accruals of
 past or future cash receipts or payments. The cash flows from
 operating, investing and financing activities of the Company are
 segregated based on the available information. For the purpose of Cash
 Flow Statement, cash and cash equivalents includes fixed deposits which
 are freely remissible but excludes interest accrued on fixed deposits.
 
 6.  Depreciation and; amortization
 
 Depreciation has been provided on die straight-line method as per the
 rates prescribed in Schedule XTV to the Companies Act, 1956.
 Depreciation on addition to fixed assets is provided on a pro-rata
 basis from the date of addition.
 
 7.  Revenue recognition
 
 Revenue and cost are generally accounted on accrual basis as they are
 earned/incurred, except in case of , significant uncertainties.
 
 - Dividend is accounted when the right to receive payment is
 established.
 
 - Interest and other income is accounted on accrual basis.
 
 8.  Fixed assets
 
 Tangible assets
 
 Fixed assets are carried at cost less accumulated depreciation and
 impairment losses, if any. The cost of fixed, assets,
 includes-in treason borrowings attributable-to acquisition of qualifying
 fixed assets up to the date the asset is ready for its intended use and
 otber incidental expenses incurred up to that date.
 
 9.  Investments
 
 Long-term investments (excluding investment properties), are carried
 individually at cost less provision for diminution, other than
 temporary, in the value of such investments. Current investments are
 carried individually, at the lower of cost and fair value. Cost of
 investments include acquisition charges such as brokerage, fees and
 duties.
 
 10.  Employee benefits
 
 Employee benefits of short term nature are recognized as expenses as
 and when it accrues. Gratuity liability is a defined obligation. The
 company pays gratuity to employees who retire or resign after a minimum
 period of five years of continuous service.
 
 11.  Earnings per share
 
 Basic earnings per share is computed by dividing the profit / (loss)
 after tax (including the post tax effect of extraordinary items, if
 any) by the weighted average number of equity shares outstanding during
 the year.  Diluted earnings per share is computed by dividing the
 profit / (loss) tax (including the post tax .  effect of extraordinary
 items, if any) as adjusted for dividend, interest and other charges to
 expense or income relating to the dilutive potential equity shares, by
 the weighted average number of equity shares considered for deriving
 basic earnings per share and the weighted average number of equity
 shares which- could: have been issued on the conversion of all dilutive
 potential equity shares.
 
 Potential equity shares are deemed to be dilutive only if their
 conversion to equity shares would decrease the net profit per share
 from continuing ordinary operations. Potential dilutive equity shares
 are deemed to be converted as at the beginning of the period, unless
 they have been issued at a later AtE-
 
 12.  Taxes on income
 
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the Income Tax
 Act, 1961.
 
 Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
 gives future economic benefits in the form of adjustment to future
 income tax liability, is considered as an asset if there is convincing
 evidence that the Company will pay normal income tax. Accordingly, MAT
 is recognized as an asset in the. Balance Sheet when it is probable
 that future economic benefit associated with it will flow to the
 Company- Deferred tax is recognized on timing differences, being the
 differences between the taxable income and the accounting income that
 originate in one period and are capable of reversal in one or more
 subsequent periods. Deferred tax is measured using the tax rates and
 the tax laws enacted or substantially enacted as.  at the reporting
 date. Deferred tax liabilities are recognized for all timing
 differences. Deferred tax assets r –in Respect of –un aborted
 Depreoiatiorr and carry forward of losses are recognized only if
 there is virtual certainty that there will be sufficient future
 taxable income available to realize such assets. Deferred tax assets
 are recognized for timing differences of other items only to the extent
 that reasonable certainty exists that sufficient future taxable income
 will be available against which these can be realized.  Deferred tax
 assets and liabilities are offset if such items relate to taxes on
 income levied by the same governing tax laws and the Company has a
 legally enforceable right for such set off. Deferred tax assets are
 reviewed at each Balance Sheet date for their readability.
 
 13.  Impairment of assets
 
 The carrying values of assets / cash generating units at each Balance
 Sheet date are reviewed for impairment. If any indication of impairment
 exists, the recoverable amount of such assets is estimated and
 impairment is recognized, if the carrying amount of these assets
 exceeds their recoverable amount.- The recoverable amount is the
 greater of the net selling price and their value in use. Value in use
 is arrived at by discounting the future cash flows to their present
 value based on an appropriate discount factor. When there is indication
 that an impairment loss recognized for an asset in earlier accounting
 periods no longer exists or may have decreased, such reversal of
 impairment loss is recognized in the Statement of Profit and Loss,
 except in case of revalued assets.
 
 14.  Provision and Contingencies
 
 A provision is recognized when the Company has a present obligation as
 a result of past events and it is probable that an outflow of resources
 will be required to settle the obligation in respect of which a
 reliable estimate can be made. Provisions (excluding retirement
 benefits) are not discounted to their present value and are determined
 based on the best estimate required to settle the obligation at the
 Balance Sheet date. These are reviewed at each Balance Sheet date and
 adjusted to reflect the current best estimates. Contingent liabilities
 are disclosed in the Notes.
 
 15. Miscellaneous Expenditure
 
 The Company has changed Its policy of amortizing preliminary
 expenditures. Earlier it had been amortizing preliminary expenditure
 over a period of ten years, and continued such policy till 4th year.
 Now it has been amortizing such expenditure over a period of five years
 and accordingly the rest of the unamortized amount has been amortized
 in the current financial year i.e., 5th year.