1.                                             2010-11       2009-10 
 
 (i) Contingent Liabilities not provided for:
 
 (a) Disputed Income-tax Matters                 478.42        300.30
 
 (b) Disputed Excise Matters – Gross              32.74         68.02
 
                             – Net of tax         21.86         44.90
 
 (c) Disputed Sales Tax 
     Matters                 – Gross             725.93        645.63
 
                             – Net of tax        484.79        426.18
 
 (d) Claims against the 
 Company not acknowledged 
 as debts                    – Gross           1,760.37      1,558.43
 
                             – Net of tax      1,175.62      1,028.72
 
 (e) Guarantees/Letter of 
 Comfort given on behalf
  of Companies                                 5,200.00      5,055.46
 
 (f) Penalty/damages/interest, if any, 
 due to non-fulfillment of any of
 the terms of works contracts               Amounts not ascertainable
 
 (g) Letter of Support given to Associate 
 Company                                    Amounts not ascertainable 
 
 (ii) Uncalled liability in respect of
  partly paid Shares held as investments           7.20          7.20
 
 2. As required by Accounting Standard 29 – Provisions, Contingent
 Liabilities and Contingent Assets, the Company recognised a liability
 aggregating to Rs.1,620.50 (Previous Year Rs.1,508.84) for expected
 warranty claims that are estimated to be incurred in future periods
 arising out of sales made up to the closure of the year.
 
 3.  Ownership premises include the sum of Rs.0.13 (Previous Year
 Rs.0.01) being the Face Value of Shares in co-operative societies
 required to be held under their respective bye-laws.
 
 4.  The buildings (including leasehold land appurtenant thereto) and
 ownership premises had been revalued as on 1st January, 1985 then
 resulting in the net increase in the book value by Rs.321.01 which had
 been transferred to Revaluation Reserve. All the freehold land,
 leasehold land, buildings (including leasehold land appurtenant
 thereto) and premises on ownership basis had been revalued as on 30th
 September, 1994 resulting in a further net increase in the book value
 of the said assets as on 1st October, 1994 by Rs.2,305.87 which also
 had been transferred to the Revaluation Reserve. As a result of the
 above, the total net increase in the book value of the said assets
 aggregates to Rs.2,626.88 (Rs.62.51 on freehold land, Rs.13.69 on
 leasehold land, Rs.816.49 on building and Rs.1,734.19 on ownership
 premises).
 
 The depreciation on the increased value has resulted in an additional
 charge for the year of Rs.26.26 (Previous Year Rs.  26.26). An amount
 equivalent to the additional charge has been transferred from
 Revaluation Reserve to Profit & Loss Account. Such transfer, according
 to an authoritative professional view, is an acceptable practice for
 the purpose of true and fair presentation of the Companys financial
 statements. The balance depreciation charged on original cost of assets
 is in accordance with the SLM rates specified in Schedule XIV to the
 Companies Act, 1956.
 
 5.  In respect of Investments made in M. P. Lamps Ltd., calls of
 Rs.2.50 per share on 48,000 equity shares and Rs.3.75 per share on
 95,997 equity shares aggregating to Rs.4.80 have not been paid by the
 Company. On principles of prudence the entire investment in M. P. Lamps
 Ltd. is considered as diminished and accordingly carried at Rs. NIL.
 
 6.  Estimated amount of contracts remaining to be executed on capital
 account Rs.3,207.49 (Previous Year Rs.406.52) net of advances.
 
 7.  Acceptances include Rs.1,910.24 (Previous Year Rs.1,762.07) for
 bills accepted by the Company and discounted by the suppliers with
 Small Industries Development Bank of India under a line of credit
 extended to the Company, which are secured by a second charge on raw
 materials, goods in process, semi-finished goods, finished goods and
 book debts and also on the collateral security created by way of
 equitable mortgage on the Companys properties at Mumbai and Wardha.
 
 8. Provision for taxation includes Rs.3.10 (Previous Year Rs.4.00),
 provided in respect of wealth tax liability for the year.
 
 9. Information about Business Segments:
 
 Company has identified its Primary Reportable Business Segments
 comprising of i) Lighting ii) Consumer Durables iii) Engineering &
 Projects and iv) Others. Lighting includes Lamps, Tubes, Luminaries;
 Consumer Durables includes Appliances & Fans; Engineering & Projects
 includes Transmission Line Towers, Telecommunications Towers, Highmast,
 Poles and Special Projects and Others includes Die-casting and Wind
 Energy.
 
 The Company caters mainly to the needs of the Indian Markets and the
 export turnover being 0.12% (Previous Year 0.19%) of the total turnover
 of the Company. There are no reportable geographical segments. All
 assets are located in India.
 
 10. Related Party Transactions :
 
 Details of transactions with Related Parties during the year as
 required by Accounting Standard - 18 on Related Party Transactions
 have been disclosed on the basis of parties identified by the Key
 Management Personnel to be within the definition of Related Parties as
 per the Standard and noted by the Board of Directors. Accordingly, the
 information is disclosed hereunder :
 
 1.  Relationships
 
 (a) Other related parties where control exists : 
 
 Hind Lamps Limited
 Bajaj Ventures Limited 
 Starlite Lighting Limited
 
 (b) Key Management Personnel : 
 
 Mr. Shekhar Bajaj – Chairman & Managing Director 
 Mr. Anant Bajaj – Executive Director 
 Mr. R. Ramakrishnan – Executive Director
 
 (c) Relatives of Key Management Personnel and their enterprises where
 transactions have taken place: 
 
 Mr. Madhur Bajaj 
 Mrs. Kiran Bajaj 
 Mrs. Pooja Bajaj 
 Mrs. Swarnalatha Ramakrishnan 
 Bajaj Allianz General Insurance Co. Ltd.  
 Bajaj Auto Ltd.  Bajaj Consumer Care Ltd.  
 Bajaj Hindusthan Ltd.  
 Bajaj International Pvt. Ltd.  
 Hercules Hoist Ltd.
 Hind Musafir Agency Ltd.  
 Hindustan Construction Co. Ltd.  
 Hindustan Housing Co. Ltd.  
 Jamnalal Bajaj Seva Trust 
 Jamnalal Sons Pvt. Ltd.
 Maharashtra Scooters Ltd.  
 Mukand Engineers Ltd.  
 Mukand Ltd.
 
 Note : Related party relationship is as identified by the Company and
 relied upon by the Auditors.
 
 21. Miscellaneous Income includes Rs.257.60 (Previous Year Rs.44.83)
 being the liabilities no longer payable.
 
 22. Employee Benefits and Employee Stock Options.  
 
 A) Disclosures pursuant to Accounting Standard - 15 ( Revised )
  Employee Benefits :
 
 a.  Defined Contribution Plans: 
 
 Amount of Rs.655.37 (Previous Year Rs.602.06) (Provident Fund, Pension 
 Fund, Superannuation Fund) is recognized as expense and included in
 Employee Emoluments - Schedule 11 in the Profit and Loss Account.
 
 b.  Defined Benefit Plans:
 
 i) General descriptions of significant Defined plans:
 
 a.  Gratuity Plan
 
 b.  Leave Plan
 
 B) Employee Stock Options Scheme:
 
 During the year, the Company granted 6,95,000 Options under Growth Plan
 to the eligible employees, at a price of Rs. 313.95 per option, being
 the closing equity price of the Company on the National Stock Exchange
 of India Ltd, as per their eligibility under ESOP 2007 of the Company.
 
 The Compensation cost of stock Options granted to employees is
 accounted by the Company using the intrinsic value method.
 
 The volatility is calculated considering the daily volatility of the
 stock prices on National Stock Exchange and Bombay Stock Exchange
 Limited over a period prior to the date of grant corresponding with the
 expected life of the options.
 
 In respect of Options granted under the Employee Stock Options Plan, in
 accordance with guidelines issued by the SEBI, the accounting value of
 the options is accounted as deferred employee compensation, which is
 amortised on a straight line basis over a period between the date of
 grant of options and eligible dates for conversion into equity shares.
 
 The above disclosures have been made consequent to the issue of
 Guidance Note on Accounting for Employee Share-based Payments issued by
 the Institute of Chartered Accountants of India in the year 2005 and
 applicable for the period on or after 1st April 2005
 
 Stock Options exercised after the Balance Sheet date rank pari passu
 with the equity shares as on the Balance Sheet date and hence are
 entitled to dividend, if exercised before the dividend is declared.
 Accordingly proposed dividend includes dividend on such equity shares
 issued and allotted up to the date these financial statements are drawn
 up.  Dividend on subsequently allotted equity shares is accounted under
 Appropriations as Dividend paid on exercise of Stock Options.
 
 11.  The Company had advanced loans aggregating to Rs.2,372 as on 31st
 March 2011 (Previous Year Rs.2,372) to Hind Lamps Ltd.(HLL) in which
 Company holds 50% of Equity Share Capital as a promoter and HLL is a
 major dedicated vendor of lamps and tubes to the Company. The loans are
 a result of continued financial support to HLL in view of substantial
 losses incurred in past many years. HLL had submitted Draft
 Rehabilitation Scheme to the Board for Industrial and Financial
 Reconstruction (BIFR) envisaging its revival and as a part thereof HLL
 has been permitted to sale the assets of its Kosi Unit for settling its
 debt obligation and raising its net worth and profitability. Keeping
 the revival plan in mind, the Company had estimated a part repayment of
 the above loan once the scheme is approved by BIFR and implemented by
 HLL and thereby determining the potential disability to recover an
 amount of Rs. 500 for substantial period of time. Accordingly the
 Company had as a matter of prudence made a provision for this
 irrecoverability in the previous year.
 
 In view of the revised draft rehabilitation scheme submitted by HLL to
 BIFR on 25th April, 2011, subsequent to the permission of sale of
 assets of Kosi unit was granted, the net worth of HLL has been
 reinstated. The management of HLL has a strategy in place and is
 confident in turning around its operations. However, the Company based
 on its own assessment of the financial status of HLL has assumed
 potential disability to recover further amount of Rs. 500 for a
 substantial period of time and therefore has, as a matter of prudence,
 made a provision for this irrecoverability during the year.
 
 12.  In respect of Debtors relating to Engineering & Projects Business
 Unit balance confirmations have not been called for by the Company.
 
 13.  Statement of Abstract of Financial Statements and Companys
 General Business Profile, as compiled by the Company, is attached
 hereto.
 
 14.  Additional information on assets given on operating lease:
 
 The Company has given on lease certain plant & machinery for a lease
 period ranging between 1 to 5 years. The arrangement is in the nature
 of cancelable lease and are generally renewable by mutual consent or
 mutual agreeable terms.
 
 15.  Previous years figures have been regrouped wherever necessary to
 make them comparable with those of the current year.