(a) Basis of Preparation of Financial Statements
 
 The financial statements are prepared on an accrual basis of accounting
 and in accordance with the generally accepted accounting principles in
 India and provisions of the Companies Act ,1956 read with the Companies
 ( Accounting Standards) Rules,2006
 
 (b) Revenue Recognition
 
 1.  Sales are recognised on despatch to customers and are net of
 returns,discount and sales tax .
 
 2.  Other Income and Expenditure are recognised and accounted on
 accrual basis.
 
 (c) Fixed Assets
 
 1.  Fixed Assets are stated at cost of acquisition or construction (net
 of Cenvat Credit / Value Added Tax) except in case of certain fixed
 assets which have been revalued, at its revalued amount, less
 accumulated depreciation and amortisation. All costs relating to the
 acquisition and installation of fixed assets are capitalised and
 include borrowing costs directly attributable to construction or
 acquisition of fixed assets, upto the date the asset is put to use.
 Also refer Note -1(e) below.
 
 2.  Machine spares which are specific to a particular item of fixed
 assets and whose use is expected to be irregular are capitalised.
 
 (d) Depreciation
 
 1.  Depreciation has been provided as under:
 
 a) On Plant & Machinery commissioned 
 upto 31st March,1997                    - On Written Down Value 
                                           Method at the rates 
                                           prescribed in Schedule 
                                           XIV to the
 (except revalued) and additions/ 
 extensions thereto.                       Companies Act, 1956.
 
 b) On Plant & Machinery commissioned 
 after 31st March, 1997                  - On Straight Line Method 
                                           at the rates prescribed 
                                           in Schedule.XIV to the
                                           Companies Act, 1956, except 
                                           Computers and Air 
                                           Conditioners, for which 
                                           the useful life has been 
                                           assessed as 5 years and the 
                                           residual values are
                                           considered at Nil.
 
 c) On Revalued Assets                   - 1. On Straight Line method 
                                           at the rate considered 
                                           applicable by the valuer
                                           as below:
 
                                            a) Leasehold Land amortised
                                               at the rate between 
                                               1% to 1.2%
                                            b) Building at the rate 
                                               between 2% to 2.3%             
                                            c) Plant & Machinery at 
                                               the rate between 
                                               5% to 5.28% 
                                           2. The additional charge 
                                           of depreciaton on account of 
                                           revaluation is withdrawn
                                           from Revaluation Reserve 
                                           and Credited to the 
                                           Profit and Loss Account.
 
 d) On Buildings and Vehicles            - On Straight Line method 
                                           at the rates applicable 
                                           at the time of additions 
                                           as per Schedule XIV of the 
                                           Companies Act, 1956.
 
 e) On Furniture, Fittings and 
 Office Equipments                       - On Straight Line Method 
                                           with the useful life 
                                           assessed as under :
 
                                           (i) Furniture & Fittings
                                               - 10 Years.
                                          (ii) Office Equipments 
                                               - 5 Years
                                           Further, the residual values 
                                           are considered at Nil, for 
                                           all these assets.
 
 2.  Leasehold land is amortised over the period of lease.
 
 3.  Except for items for which 100% depreciation rates are applicable,
 depreciation on assets added/disposed of during the year has been
 provided on prorata basis with reference to the month of
 addition/disposal.
 
 (e) Foreign Currency Transactions
 
 Transactions in foreign currencies are recorded at the exchange rate
 prevailing on the date of the transaction. Foreign Currency Assets and
 Liabilities are stated at the exchange rates prevailing at the date of
 Balance Sheet and at forward contract rates wherever so covered. The
 resulting gain or loss is appropriately recognised in the Profit and
 Loss Account except for the exchange difference arising on the
 reporting of long term foreign currency monetary items relating to
 fixed assets where the same is adjusted to the fixed assets in
 accordance with the Notification No.G.S.R 225 (E) issued by Ministry of
 Corporate Affairs on March 31,2009
 
 (f) Borrowing Costs
 
 Borrowing costs directly attributable to the acquisition or
 construction of qualifying fixed assets are capitalised as part of the
 cost of the assets, upto the date the asset is put to use. Other
 borrowing costs are charged to the Profit and Loss Account in the year
 in which they are incurred.
 
 (g) Inventories
 
 Raw Materials are valued at weighted average cost , Stocks in process
 are valued at manufacturing cost based on weighted average cost of raw
 materials and overheads up to relevant stage of completion, Finished
 goods are valued at cost of production. Purchased finished goods are
 valued at cost of purchase.  By-products and waste are valued at cost.
 Any item of inventory is valued at Net Realisable Value,if the same is
 less than cost.
 
 (h) Investments
 
 Current investments are valued at lower of cost or fair value. Long
 term investments are stated at cost less diminution, if any, in value.
 
 (i) Employee Benefits
 
 A.  Defined Contribution Plans-: Superannuation:
 
 The company has Defined Contribution Plans for Post employment benefits
 in the form of Superannuation Fund for certain class of employees as
 per the scheme, administered through Life Insurance Corporation (LIC)
 and Trust which is administered by the Trustees. Company has no further
 obligation beyond its contributions.
 
 Employees Family Pension:
 
 The Company has Defined Contribution Plan for Post Employment benefits
 in the form of family pension for all eligible employees, which is
 administered by the regional provident fund commissioner. Company has
 no further obligation beyond its contributions.
 
 Provident Fund:
 
 In respect of certain employees, Provident Fund contribution are made
 to the trust administered by the trustees. The interest rate payable to
 the members of the trust shall not be lower than the statutory rate of
 interest declared by the Central Government under Employees Provident
 Fund and Miscellaneous Provision Act,1952. Shortfall, if any, shall be
 made good by the Company. The remaining contributions are made to the
 Government administered Provident Fund towards which the Company has no
 further obligations beyond its monthly contributions.
 
 The Company makes contribution to State Plan namely Employees State
 Insurance Fund and has no further obligation beyond its Contribution.
 
 The Companys contribution to above funds are charged to Profit and
 Loss Account as incurred.
 
 B.  Defined Benefit Plans: 
     Gratuity:
 
 The Company has a defined benefit plan for Post - employment benefit in
 the form of gratuity for all employees which are administered through
 Life- Insurance Corporation (LIC) and a trust which is administered by
 the trustees. Liability for above defined benefit plan is provided on
 the basis of actuarial valuation, as at the Balance Sheet date, carried
 out by an independent actuary. The actuarial method used for measuring
 the liability is the Projected Unit Credit method.
 
 Compensated Absences:
 
 Liability for Compensated Absences is provided on the basis of
 valuation, as at the Balance Sheet date, carried out by an independent
 actuary.The Actuarial valuation method used for measuring the liability
 is the Projected Unit Credit method. Under this method, the Defined
 Benefit Obligation is calculated taking into account pattern of
 availment of leave whilst in service and qualifying salary on the date
 of availment of leave. In respect of encashment of leave, the Defined
 Benefit obligation is calculated taking into account all type of the
 decrement and qualifying salary projected up to the assumed date of
 encashment.
 
 The Actuarial gains and losses arising during the year are recognised
 in the Profit and Loss Account of the year without resorting to any
 amortisation.
 
 C. Termination Benefits-:
 
 AS 15 (revised 2005) provides for deferment of the termination
 benefits. Accordingly, the compensation paid to employees under the
 Voluntary Retirement Scheme has been amortised over a pay back period
 or up to March 31st 2010 which ever is earlier.
 
 (j) Direct Taxes
 
 (i) Provision for current tax is made and retained in the accounts on
 the basis of estimated tax liability as per the applicable provisions
 of the Income Tax Act , 1961 and considering assessment orders and
 decisions of appellate authorities in the Companys case.
 
 (ii) Deferred Tax for timing differences between tax profits and book
 profits is accounted for using the tax rates and laws that have been
 enacted or substantively enacted as of the Balance Sheet date. Deferred
 Tax assets are recognised to the extent there is reasonable certainty
 that these assets can be realised in future.
 
 (k) Indirect Taxes
 
 The liabilities are provided or considered as contingent depending upon
 the merit of each case and/or on receiving the actual demand from the
 department.
 
 (l) Research and Development
 
 Revenue expenditure on research and development is charged as an
 expense in the year in which it is incurred under respective heads of
 accounts.  Expenditure which result in the creation of capital assets
 is capitalised and depreciation is provided on such assets as
 applicable.