a) The Financial statements are prepared under historical cost
 convention and in accordance with generally accepted accounting
 practices and mandatory accounting standards prescribed by the
 Companies (Accounting Standards) Rules, 2006 and the relevant
 Provisions of the Companies Act, 1956. Revenues are recognised and
 expenses are accounted on accrual basis.
 
 b) Sales are inclusive of excise duty and net of rebate and Value Added
 Tax.
 
 c) Fixed assets including capital work in progress are stated at cost
 net of CENVAT and Input Tax Credit. The borrowing cost directly
 attributable to the acquisition, construction or production of
 qualifying assetsare capitalised. In respect of new projects the
 interest on loans and expenses (net) relating thereto are capitalised
 as part of costtill the assets are put to use.
 
 2) Leasehold land is amortised over the period of lease.
 
 3) Depreciation/ Depletion is provided on quarry freehold lands based
 on the proportion of quantity of Limestone extracted to the total
 mining reserves.
 
 e) Long Term Investments are carried at Cost less any diminution in
 value, that is other than temporary.
 
 f) Retirement Benefits:
 
 i. Liability towards Gratuity is covered by a group gratuity scheme
 with Life Insurance Corporation of India and annual contribution is
 based on actuarial valuation.
 
 ii. Provident Fund contribution is made at the prescribed rates
 underthe Employees'' Provident Fundsand Miscellaneous Provisions Act,
 1952
 
 iii. Leave encashment is accounted on the basis of actuarial valuation.
 
 iv.  Expenditure in respect of voluntary retirement as per Company''s
 Scheme is written off in the year in which they are incurred.
 
 g) Foreign Currency transactions are recorded at the exchange rates
 prevailing on the date of the transaction.
 
 Monetary Foreign currency assets and liabilities (monetary items) are
 reported at the exchange rate prevailing on the balance sheet date.
 Pursuant to the Notification of the Companies (Accounting Standards)
 Amendment Rules, 2006 on 31s'' March, 2009, which amended Accounting
 Standard 11 on The Effects of Change in Foreign Exchange Rates,
 exchange differences relating to long term monetary items are dealt
 with in the following manner :-
 
 i. Exchange differences relating to long-term monetary items, arising
 during the year, in so far as they relate to the acquisition of a
 depreciable capital asset are added to/deducted from the cost of the
 asset and depreciated over the balance life of the asset.
 
 ii. In other cases such differences are accumulated in a Foreign
 Currency Monetary Item Transaction Difference Account and amortized to
 the profit and lossaccountoverthe balance
 
 life of the long-term monetary item, however that the period of
 amortization does not extend beyond 31 March 2012.
 
 All other exchange differences are dealt with in the profit and loss
 account.
 
 Non-monetary items such as investments are carried at historical cost
 using the exchange rates on the date of the transaction.
 
 h) Inventories are valued at lower of cost computed on weighted average
 method and net realisable value.
 
 i) Liabilities of contingent nature have been disclosed separately.
 
 j) Government grants relating to specific fixed assets are shown as
 deduction from gross value of such assets.
 
 k) Excise duty payable is accounted on production of finished goods.
 
 l) Current tax is the amount of tax payable in respect of taxable
 income for the year. Deferred tax Is recognised, subject to the
 consideration of prudence, on timing differences, being the difference
 between taxable income and accounting income that originate in one
 period and are capable of reversal in one or more subsequent periods.
 Deferred tax assets will not be recognised on unabsorbed depreciation
 and carryforward losses unless there is a virtual certaintythat
 sufficient future taxable income will be available against which such
 deferred tax assets can be realised.
 
 m) Revenue expenditure including overheadson Research & Development is
 chargedasan expense through the relevant heads of account in the year
 in which they are incurred. Research & Development expenditure which
 results in the creation of Capital assets is taken as Fixed Assets and
 Depreciation is provided over such assets.