1) Contingent Liability
 
 Contingent liability not provided for in respect of;
 
                                                          (Rs. in Lacs)
 
 S.No.   Particulars                      31.03.2011       31.03.2010   
 1.      Counter guarantee to Union 
         Bank of India for performance 
         guarantee given to various
         departments                          539.20           493.34
 
 2.  Corporate Guarantee(s) have been given for securing working capital
 facilities sanctioned to its Subsidiary Companies.
 
 3) The closing stock of finished goods has been valued nclusive of
 Excise Duty amounting to Rs. 22,706,411 (Previous Year Rs. 28,711,068) as
 per ASI-14 (Revised) issued by the Institute of Chartered Accountants
 of India
 
 4) The Company has, on a preferential basis, issued the following
 securities to APL Infrastructure Private Limited, in accordance with
 the provisions of SEBI (Issue of Capita and Disclosure Requirements)
 Regulations, 2009 (SEBI ICDR Regulations 2009)
 
 Warrants: 16,41,953 where each Warrant would entitle APL Infrastructure
 Private Limited to subscribe to one Ordinary Share of the Company at a
 price of Rs. 176 per share. As per the SEBI ICDR Regulations 2009, an
 amount equivalent to 25% of the price i.e. Rs. 44 per Warrant aggregating
 to Rs. 7,22,45,932 has been received from APL Infrastructure Private
 Limited on allotment of the Warrants.
 
 5) The Company has only one segment i.e. manufacturing of Steel tubes
 and pipes, therefore segment reporting as required under Accounting
 Standard - 17 is considered as not applicable.
 
 6) Brand Building
 
 During the Year the Company incurred an expenditure of Rs. 13,636,008
 (Previous Year Rs. 8,663,961) on Brand building exercise, which has been
 grouped under miscellaneous expenses and will be amortised in 5 years
 equally.
 
 7) Provision for Income Tax for the current year has been computed
 based on Minimum Alternate Tax in accordance with Section 115JB of the
 Income Tax Act, 1961. Taking into consideration the future
 profitability and the taxable position in the subsequent years, the
 Company has recognised MAT Credit Entitlement to the extent of Rs.
 12,489,285 (Previous Year Rs. 4,439,480) in accordance with the Guidance
 Note on Accounting for Credit Available in respect of Minimum Alternate
 Tax under Income Tax Act, 1961 issued by the Institute of Chartered
 Accountants of India
 
 8) Related Party Disclosures (AS 18)
 
 a) Name of the related parties and description of relationships;
 
 Related Parties with whom transaction have taken place during the year
 and balances outstanding as on the last day of the year;
 
 Name of related parties where control exists irrespective of whether
 transactions have occurred or not Wholly Owned Subsidiary companies
 
 Apollo Metalex (P) Ltd
 
 Shri Lakshmi Metal Udyog Ltd
 
 Lloyds Line Pipes Limited
 
 Name of other related parties with whom transactions have taken place
 during the year Associates
 
 Apollo Pipes Ltd
 
 V. S. Exim (P) Ltd
 
 APL Infrastructure Pvt. Ltd
 
 Key Management Personnel
 
 Mr. Sanjay Gupta (Chairman-cum-Managing Director)
 
 Relatives of Key Management Personnel
 
 Mrs. Saroj Rani Gupta (Mother of Directors) Mrs. Neera Gupta (Wife of
 Sh. Sanjay Gupta)
 
 9) The outstanding balance of Debtors/Creditors in the books of the
 company is subject to confirmation.
 
 10) The Company could not identify whether any of its creditors is SSI
 undertaking and Micro, Small and Medium Enterprises covered under the
 Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act).
 Particulars of amount as at March 31, 2011, if any, due to such
 undertaking could, therefore, not be disclosed.
 
 11) Amounts except number of shares and earnings per share are rounded
 off to the nearest rupees.
 
 12) The figures of previous year have been regrouped / rearranged
 wherever considered necessary.