1.1 PRESENTATION AND DISLOSURES OF FINANCIAL STATEMENT
 
 During the year ended 31st March, 2012, the revised Schedule VI
 notified under the Companies Act 1956, has become applicable to the
 company, for preparation and presentation of its financial statements.
 The adoption of revised Schedule
 
 VI does not impact recognition and measurement principles followed for
 preparation of financial statements. However, it has significant impact
 on presentation and disclosures made in the financial statements. The
 company has also reclassified the previous year figures in accordance
 with the requirements applicable in the current year.
 
 1.2 ESTIMATES :
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period end. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 1.3 FIXED ASSETS:
 
 (a) Tangible Fixed Assets are stated at their original cost of
 acquisition, installation or construction (net of Cenvat credit, if
 any) less accumulated depreciation, except freehold land which is
 carried at cost. Cost comprises the purchase price, installation and
 attributable cost of bringing the assets to its working condition for
 its intended use, less trade discounts, rebates, specific grants
 received.
 
 (b) An Intangible asset is recognized when it is probable that the
 future economic benefit that are attributable to the assets will flow
 to the Company and the cost of the assets can be measured reliably. The
 depreciable amount of an intangible asset is allocated over its
 estimated useful economic life. Expenditure on purchased software and
 IT related expenditure are written off over a period of three years.
 
 (c) Capital Work -In -Progress: Capital work in progress is carried at
 cost comprising direct cost and preoperative expenses during
 construction period to be allocated to the fixed assets on the
 completion of construction.
 
 1.4 DEPRECIATION:
 
 Depreciation on fixed assets has been provided on Written down Value
 (WDV) Method at the rates and in the manner prescribed under schedule
 XIV to the Companies Act, 1956. Depreciation on additions to fixed
 assets is provided on a pro -rata basis from the date of put to use.
 Depreciation on assets sold, discarded or scrapped, is provided up to
 the date on which the said asset is sold, discarded or scrapped. In
 respect of an asset for which impairment loss is recognized,
 depreciation is provided on the revised carrying amount of the assets
 over its remaining useful life.
 
 1.5 GOVERNMENT GRANTS/ SUBSIDIES :
 
 Government grants and subsidies are recognized when there is reasonable
 assurance that the same will be received and company will comply with
 the conditions attached to them. Revenue grants are recognized in the
 financial statements either as income or deducted from related
 expenses. Capital grants/ subsidies are credited to respective fixed
 assets where it relates to specific fixed assets.
 
 1.6 INVESTMENTS:
 
 Investments, which are readily realizable and intended to be held for
 not more than one year from the date on which such investments are
 made, are classified as current investments. All other investments are
 classified as long- term investments.  Current investments are stated
 at lower of cost and fair value determined. Long term Investments are
 stated at cost after deducting provisions for permanent diminution in
 the value, if any.
 
 1.7 INVENTORIES:
 
 Inventories are carried at the lower of cost and net realisable value.
 Cost for the purpose is worked out on weighted average basis and
 comprises all costs of purchase, cost of conversion and other costs
 incurred in bringing the inventories to their present location and
 condition. In case of finished goods, semi-finished goods and work in
 progress, an appropriate overhead are allocated on full absorption
 costing basis and includes excise duty wherever applicable.
 
 1.8 REVENUE:
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the company and the revenue can be
 reliably measured. The Sales are accounted for on dispatch and are
 stated exclusive of excise duty, VAT/ Sales Tax and are net of trade
 discounts, sales commission and sales return. Other items of revenue
 are recognised in accordance with the Accounting Standard (AS - 9).
 Interest income is recognized on time proportion basis taking into
 account the amount outstanding and the applicable interest rate.
 
 1.9 RETIREMENT BENEFITS:
 
 (i) Defined Contribution Plan
 
 Employees benefits in the form of provident fund and other labour
 welfare fund are considered as defined contribution plan and the
 contributions are charged to the profit and loss account of the year
 when the contributions to the respective funds are due.
 
 (ii) Defined Benefit Plan
 
 Retirement benefits in the form of gratuity is considered as defined
 benefits obligations and are provided for on the basis of an actuarial
 valuation, using the projected unit credit method, as at the date of
 the Balance Sheet.
 
 (iii) Other Long-term benefits
 
 Long-term compensated absences are provided for on the actuarial
 valuation, using the projected unit credit method, as at the date of
 the Balance Sheet.
 
 Actuarial gain/losses, if any, are immediately recognized in the Profit
 & Loss Account.
 
 1.10 IMPAIRMENT OF ASSETS:
 
 The carrying amounts of assets are reviewed at each Balance Sheet date
 if there is any indication of impairment based on internal / external
 factors. An impairment loss will be recognized wherever the carrying
 amount of an asset exceeds its recoverable amount. The recoverable
 amount is greater of the asset''s net selling price and value in use. In
 assessing value in use, the estimated future cash flows are discounted
 to the present value by using weighted average cost of capital. A
 previously recognized impairment loss is further provided or reversed
 depending on changes in circumstances.
 
 1.11 TAXES ON INCOME:
 
 Tax expense comprises current and deferred tax. Provision for the
 current tax is made on the basis of taxable income for the current
 accounting year in accordance with the provisions of Income Tax Act, 1
 961. Minimum Alternate Tax (MAT) credit is recognized as an asset only
 when and to the extent there is convincing evidence that the company
 will pay normal income tax during the specified period. The company
 reviews the carrying amount of MAT at each Balance Sheet date and
 adjusts MAT credit entitlement to the extent there is convincing
 evidence to the effect that the company will pay normal income tax
 during the specified period.
 
 Deferred income taxes reflect the impact of timing differences between
 taxable income and accounting income originating during current year
 and reversal of timing differences for the earlier years. Deferred tax
 is measured using the tax rates and the tax laws enacted or
 substantively enacted at the reporting date.
 
 Deferred tax liabilities are recognized for all taxable timing
 differences. Defered tax assets are recognized and carried forward for
 deductible timing differences only to the extent that there is
 reasonable certainty that sufficient future taxable income will be
 available against which such defered tax assets can be realized.
 Deferred tax assets / liabilities are reviewed at the end of each
 reporting period based on the development during the year to reassess
 realizations or liabilities.
 
 1.12 RESEARCH AND DEVELOPMENT EXPENDITURE:
 
 Revenue expenditure on Research and Development is charged to profit
 and loss statement in the year in which it is incurred and are included
 under the related head of expenditure.
 
 1.13 BORROWING COSTS:
 
 Borrowing cost includes interest and amortization of ancillary costs
 incurred in connection with the arrangement of borrowings. Borrowing
 costs directly attributable to the acquisition, construction or
 production of an asset that necessarily takes a substantial period of
 time to get ready for its intended use or sale are capitalized as part
 of the cost of the respective assets. All other borrowing costs are
 recognised as an expense in the period they occur.
 
 1.14 INTANGIBLE ASSET:
 
 Intangible asset is recognized when it is probable that the future
 economic benefit that are attributable to the assets will flow to the
 Company and the cost of the assets can be measured reliably. The
 depreciable amount of an intangible asset is allocated over its
 estimated useful life. Expenditure on purchased / developed software
 are written off over a period of three years.
 
 1.15 PROVISIONS AND CONTINGENCIES:
 
 A Provision is recognized for a present obligation as a result of past
 events if it is probable that an outflow of resources will be required
 to settle the obligation and in respect of which a reliable estimate
 can be made. Provisions are determined based on best estimates of the
 amount required to settle the obligation at the Balance Sheet date.
 Liabilities which are material in nature and whose future outcome
 cannot be ascertained with reasonable certainty are treated as
 contingent and disclosed by way of notes to the accounts. Contingent
 assets are neither recognized nor disclosed in the financial
 statements. The company does not recognize a contingent liability but
 disclose its existence in the financial statements.
 
 1.16 CASH & CASH EQUIVALENTS:
 
 Cash and cash equivalent comprise cash in hand and at bank. The company
 considers all highly liquid investments with a original maturity period
 of three months or less and that are readily convertible to known
 amount of cash to be cash equivalents.
 
 1.17 EARNINGS PER SHARE:
 
 Basic earnings per share are 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 are
 adjusted for the effects of all dilutive potential equity shares.