1.  DISCLOSURES IN ACCORDANCE WITH REVISED AS-15 ON EMPLOYEES
 BENEFITS.
 
 b) Defined Benefit Plans -
 
 The following figures are as per the actuarial valuation, as at the
 Balance Sheet date, carried out by an independent actuary.
 
 ix) The estimates of future salary increases considered in actuarial
 valuation takes into account inflation, seniority, promotion and other
 relevant factors.
 
 x) Para 132 of AS 15 (revised 2005) does not require any specific
 disclosures except where the expense resulting from compensated absence
 is of such size, nature or incidence that its disclosure is relevant
 under Accounting Standard No. 5 or Accounting Standard No. 18 and
 accordingly, the expense resulting from compensated absence is not
 significant and hence no disclosures are prepared under various
 paragraphs of AS 15 (revised 2005).
 
 2.  There was no impairment loss on Fixed Assets on the basis of review
 carried out by the Management in accordance with Accounting Standard
 28.
 
 3. Estimated amount of Contracts remaining to be executed on Capital
 Account and not provided for Rs.2011 Lacs (Previous Year Rs.8623 Lacs)
 against which advances have been paid Rs. 181 Lacs (Previous Year
 Rs.319 Lacs).
 
 4. Contingent Liability in respect of:
 
 (a) Taxation matters Rs. 899 Lacs (Previous Year Rs.231 Lacs)
 
 (b) Taxation matters for which department has gone in appeals Rs. 730
 Lacs (Previous Year Rs 369 Lacs)
 
 (c) Other matters Rs. Nil Lacs ( Previous Year Rs.8 Lacs)
 
 5.  (a) Excise Department had retrospectively cancelled registration
 granted to one of the Companys factories at Mahad. This order was set
 aside by the Commissioner (Appeals). The appeal of the Department
 against the order of Commissioner (Appeals) was dismissed by the
 Tribunal against which Excise Department had fled an appeal before the
 High Court which appeal is yet to be admitted.
 
 Excise Department had also issued various separate Show Cause cum
 Demand Notices(SCNs) on almost similar grounds pertaining to the period
 April 2000 to March 2003 for alleged short payment of duty on
 clearances of Polyester Filament yarn from one of the Companys
 factories at Mahad, denying applicability of an exemption notification.
 These SCNs are yet to be disposed off. In view of favourable order of
 the Tribunal (referred to in the foregoing paragraph) and legal
 opinions received by the Company, the demands are unjustified and the
 Company is advised that it has a very strong case on merits.
 
 (b) The Gujarat Sales-Tax Department had in the earlier years
 retrospectively withdrawn its own circular which permitted Sales-Tax
 exemption on purchases of fuel oil by units exempted from payment of
 Sales Tax. It had consequently issued notices to the Company for
 reopening of assessments and levy of tax, interest and penalty
 amounting to Rs 360 Lacs for the earlier periods. Pursuant to
 applications fled by the industry, the Gujarat High Court decided the
 matter in favour of the industry. The Gujarat Government has fled an
 appeal before Supreme Court which is yet to be decided.
 
 6.  Revenue expenditure incurred on Research and Development during
 the year is Rs.195 Lacs ( Previous Year Rs.105 Lacs).
 
 7.  Pursuant to an option given in the Notification No.G.S.R 225 (E)
 issued by Ministry of Corporate affairs on 31.03.2009, the exchange
 rate loss of Rs 52 Lacs (Previous Year exchange gain Rs 91 Lacs)
 arising on account of reporting long term Foreign Currency monetary
 items relating to fixed assets has been added to (previous year reduced
 from) the cost of fixed assets. Consequently profit for the year is
 higher by 51 Lacs (previous year lower by 86 Lacs).
 
 8. The Gross Block of Fixed Assets was written up by Rs.8301 Lacs on
 revaluation carried out in the year 1983 and 1989.
 
 9. Segment Reporting
 
 a) Primary Segment (by Business Segment):
 
 Based on the guiding principles given in the Accounting Standards on
 Segment Reporting ( AS - 17 ) the Company is primarily in the business
 of manufacture and sale of Synthetic Yarn and Tyre Cord Fabric which
 mainly have similar risks and returns. The Companys business activity
 falls within a single geographical and business segment (Synthetic
 Yarn), hence it has no other primary reportable segments.
 
 b) Secondary Segment (by Geographical demarcation):
 
 i) The secondary segment is based on geographical demarcation i.e. in
 India and outside India.
 
 10.  Related Party Disclosures (As identified by the Management and
 where transactions exist )
 
 (i) Related Party Relationships
 
 (a) Key Management Personnel Mr.G.M. Singhvi
                              Whole-time Director
 
 (b) Other Related Parties    Mr.B.K. Birla
                              Century Textiles and Industries Limited, 
                              Jay Shree Tea and Industries Limited, 
                              Kesoram Industries Limited 
 NOTES:
 
 1) The parties listed under (b) above are not related parties as per
 the requirements of Accounting Standard AS-18. However, as a matter of
 abundant caution, they are being included for making the Financial
 Statements more transparent.
 
 2) In respect of the above parties, there is no provision for doubtful
 debts as on 31st March,2011 and no amount has been written off or
 written back during the year in respect of debts due from/to them.
 
 11.  Previous Years figures have been regrouped and rearranged,
 wherever necessary.
 
 12.  All the amounts in rupees have been rounded off to lacs as
 permitted under Notifcation No.GSR 545 (E) dated 1st August,2002 issued
 by Department of Company Affairs, Government of India. Figures less
 than Rs.50,000 have been shown as actuals in brackets.
 
 NOTE: Signatures to schedules from Schedule A to Schedule I forming
 part of the Accounts