1.1 Basis of accounting and preparation of financial statements
 
 The financial statements of the Company have been prepared in
 accordance with the Generally Accepted Accounting Principles in India
 (Indian GAAP) to comply with the Accounting Standards notified under
 the Companies (Accounting Standards) Rules, 2006 (as amended) and the
 relevant provisions of the Companies Act, 1956. The financial
 statements have been prepared on accrual basis under the historical
 cost convention . The accounting policies adopted in the preparation of
 the financial statements are consistent with those followed in the
 previous year .
 
 1.2. Use of estimates
 
 The preparation of the financial statements are in conformity with
 Indian GAAP which requires the Management to make estimates and
 assumptions considered in the reported amounts of assets and
 liabilities (including contingent liabilities) and the reported income
 and expenses during the year. The Management believes that the
 estimates used in preparation of the financial statements are prudent
 and reasonable. Future results could differ due to these estimates and
 the differences between the actual results and the estimates are
 recognised in the periods in which the results are known /
 materialise..
 
 1.3 Cash and cash equivalents (for purposes of Cash Flow Statement)
 
 Cash comprises of cash on hand and demand deposits with banks. Cash
 equivalents are short-term balances (with an original maturity of three
 months or less from the date of acquisition), highly liquid investments
 that are readily convertible into known amounts of cash and which are
 subject to insignificant risk of changes in value.
 
 1.4. Cash flow statement
 
 Cash flows are reported using the indirect method, whereby profit /
 (loss) before extraordinary items and tax is adjusted for the effects
 of transactions of non-cash nature and any deferrals or accruals of
 past or future cash receipts or payments. The cash flows from
 operating, investing and financing activities of the Company are
 segregated based on the available information.
 
 1.5.  Depreciation and amortisation
 
 Depreciation has been provided on the written down method as per the
 rates prescribed in Schedule XIV to the Companies Act, 1956 .
 Intangible assets are amortised over their estimated useful life as
 follows:
 
 Intangibles – 3 – 5 years (1-2 years remaining as at the Balance Sheet
 date)
 
 Amortisation of Product marketing rights over 15 years is based on the
 term of the marketing right acquired and the economic benefits that are
 expected to accrue to the Company over such period.
 
 The estimated useful life of the intangible assets and the amortisation
 period are reviewed at the end of each financial year and the
 amortisation method is revised to reflect the changed pattern.
 
 1.6.  Revenue recognition
 
 Income from services
 
 Revenues from contracts priced on a time and material basis are
 recognised when services are rendered and related costs are incurred.
 
 1.7.  Other income
 
 Interest income is accounted on accrual basis. Dividend income is
 accounted for on receipt basis.
 
 1.8.  Tangible Fixed Assets
 
 Fixed assets, and are carried at cost less accumulated depreciation and
 impairment losses, if any. The cost of fixed assets includes interest
 on borrowings attributable to acquisition of qualifying fixed assets up
 to the date the asset is ready for its intended use and other
 incidental expenses incurred up to that date. Machinery spares which
 can be used only in connection with an item of fixed asset and whose
 use is expected to be irregular are capitalised and depreciated over
 the useful life of the principal item of the relevant assets.
 Subsequent expenditure relating to fixed assets is capitalised only if
 such expenditure results in an increase in the future benefits from
 such asset beyond its previously assessed standard of performance.
 
 Fixed assets acquired in full or part exchange for another asset are
 recorded at the fair market value or the net book value of the asset
 given up, adjusted for any balancing cash consideration. Fair market
 value is determined either for the assets acquired or asset given up,
 whichever is more clearly evident. Fixed assets acquired in exchange
 for securities of the Company are recorded at the fair market value of
 the assets or the fair market value of the securities issued, whichever
 is more clearly evident.
 
 The Company has not revalued its assets.
 
 Fixed assets retired from active use and held for sale are stated at
 the lower of their net book value and net realisable value and are
 disclosed separately in the Balance Sheet.  Capital work-in-progress:
 
 Projects under which assets are not ready for their intended use and
 other capital work-in-progress are carried at cost, comprising direct
 cost, related incidental expenses and attributable interest.
 
 1.9.  Intangible assets
 
 Intangible assets are carried at cost less accumulated amortisation and
 impairment losses, if any. The cost of an intangible asset comprises
 its purchase price, including any import duties and other taxes (other
 than those subsequently recoverable from the taxing authorities), and
 any directly attributable expenditure on making the asset ready for its
 intended use and net of any trade discounts and rebates.  Subsequent
 expenditure on an intangible asset after its purchase / completion is
 recognised as an expense when incurred unless it is probable that such
 expenditure will enable the asset to generate future economic benefits
 in excess of its originally assessed standards of performance and such
 expenditure can be measured and attributed to the asset reliably, in
 which case such expenditure is added to the cost of the asset.
 
 1.10.  Foreign currency transactions and translations
 
 Initial recognition
 
 Transactions in foreign currencies are accounted at the exchange rates
 prevailing on the date of the transaction or at rates that closely
 approximate the rate at the date of the transaction.  Treatment of
 exchange differences
 
 Exchange differences arising on settlement / restatement of short-term
 foreign currency monetary assets and liabilities of the Company and its
 integral foreign operations are recognised as income or expense in the
 Statement of Profit and Loss. The exchange differences on restatement /
 settlement of loans to non-integral foreign operations that are
 considered as net investment in such operations are accumulated in a
 Foreign currency translation reserve until disposal / recovery of the
 net investment.The exchange differences arising on restatement /
 settlement of long-term foreign currency monetary items are capitalised
 as part of the depreciable fixed assets to which the monetary item
 relates and depreciated over the remaining useful life of such assets
 or amortised on settlement / over the maturity period of such items if
 such items do not relate to acquisition of depreciable fixed assets.
 The unamortised balance is carried in the Balance Sheet as Foreign
 currency monetary item translation difference account net of the tax
 effect thereon.  Accounting of forward contracts
 
 Premium / discount on forward exchange contracts, which are not
 intended for trading or speculation purposes, are amortised over the
 period of the contracts if such contracts relate to monetary items as
 at the Balance Sheet date.
 
 1.11.  Investments
 
 Long-term investments (excluding investment properties), are carried
 individually at cost less provision for diminution, other than
 temporary, in the value of such investments. Current investments are
 carried individually, at the lower of cost and fair value. Cost of
 investments include acquisition charges such as brokerage, fees and
 duties. Investment properties are carried individually at cost less
 accumulated depreciation and impairment, if any. Investment properties
 are capitalised and depreciated (where applicable) in accordance with
 the policy stated for Tangible Fixed Assets. Impairment of investment
 property is determined in accordance with the policy stated for
 Impairment of Assets.
 
 1.12.  Employee benefits
 
 Employee benefits include provident fund, superannuation fund, gratuity
 fund, compensated absences, long service awards
 and post-employment medical benefits.  
 
 Defined contribution plans
 
 The Company''s contribution to provident fund and superannuation fund
 are considered as defined contribution plans and are charged as an
 expense as they fall due based on the amount of contribution required
 to be made.
 
 Defined benefit plans
 
 For defined benefit plans in the form of gratuity fund and
 post-employment medical benefits, the cost of providing benefits is
 determined using the Projected Unit Credit method, with actuarial
 valuations being carried out at each Balance Sheet date. Actuarial
 gains and losses are recognised in the Statement of Profit and Loss in
 the period in which they occur.  Past service cost is recognised
 immediately to the extent that the benefits are already vested and
 otherwise is amortised on a straight-line basis over the average period
 until the benefits become vested. The retirement benefit obligation
 recognised in the Balance Sheet represents the present value of the
 defined benefit obligation as adjusted for unrecognised past service
 cost, as reduced by the fair value of scheme assets. Any asset
 resulting from this calculation is limited to past service cost, plus
 the present value of available refunds and reductions in future
 contributions to the schemes.  Short-term employee benefits
 
 The undiscounted amount of short-term employee benefits expected to be
 paid in exchange for the services rendered by employees are recognised
 during the year when the employees render the service. These benefits
 include performance incentive and compensated absences which are
 expected to occur within twelve months after the end of the period in
 which the employee renders the related service. The cost of such
 compensated absences is accounted as under :(a) in case of accumulated
 compensated absences, when employees render the services that increase
 their entitlement of future compensated absences; and(b) in case of
 non-accumulating compensated absences, when the absences occur.
 Long-term employee benefits
 
 Compensated absences which are not expected to occur within twelve
 months after the end of the period in which the employee renders the
 related service are recognised as a liability at the present value of
 the defined benefit obligation as at the Balance Sheet date less the
 fair value of the plan assets out of which the obligations are expected
 to be settled.  Long Service Awards are recognised as a liability at
 the present value of the defined benefit obligation as at the Balance
 Sheet date.
 
 1.13. Segment reporting
 
 The Company identifies primary segments based on the dominant source,
 nature of risks and returns and the internal organisation and
 management structure. The operating segments are the segments for which
 separate financial information is available and for which operating
 profit/loss amounts are evaluated regularly by the executive Management
 in deciding how to allocate resources and in assessing performance.
 
 The accounting policies adopted for segment reporting are in line with
 the accounting policies of the Company.  Segment revenue, segment
 expenses, segment assets and segment liabilities have been identified
 to segments on the basis of their relationship to the operating
 activities of the segment. Inter-segment revenue is accounted on the
 basis of transactions which are primarily determined based on market /
 fair value factors. Revenue, expenses, assets and liabilities which
 relate to the Company as a whole and are not allocable to segments on
 reasonable basis have been included under unallocated revenue /
 expenses / assets / liabilities.
 
 1.14.  Earnings Per share
 
 Basic earnings per share is computed by dividing the profit / (loss)
 after tax (including the post tax effect of extraordinary items, if
 any) by the weighted average number of equity shares outstanding during
 the year. Diluted earnings per share is computed by dividing the profit
 / (loss) after tax (including the post tax effect of extraordinary
 items, if any) as adjusted for dividend, interest and other charges to
 expense or income relating to the dilutive potential equity shares, by
 the weighted average number of equity shares considered for deriving
 basic earnings per share and the weighted average number of equity
 shares which could have been issued on the conversion of all dilutive
 potential equity shares. Potential equity shares are deemed to be
 dilutive only if their conversion to equity shares would decrease the
 net profit per share from continuing ordinary operations. Potential
 dilutive equity shares are deemed to be converted as at the beginning
 of the period, unless they have been issued at a later date. The
 dilutive potential equity shares are adjusted for the proceeds
 receivable had the shares been actually issued at fair value (i.e.
 average market value of the outstanding shares). Dilutive potential
 equity shares are determined independently for each period presented.
 The number of equity shares and potentially dilutive equity shares are
 adjusted for share splits / reverse share splits and bonus shares, as
 appropriate.
 
 1.15.  Taxes on income
 
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the Income Tax
 Act, 1961.Minimum Alternate Tax (MAT) paid in accordance with the tax
 laws, which gives future economic benefits in the form of adjustment to
 future income tax liability, is considered as an asset if there is
 convincing evidence that the Company will pay normal income tax.
 Accordingly, MAT is recognised as an asset in the Balance Sheet when it
 is probable that future economic benefit associated with it will flow
 to the Company.Deferred tax is recognised on timing differences, being
 the differences between the taxable income and the accounting income
 that originate in one period and are capable of reversal in one or more
 subsequent periods. Deferred tax is measured using the tax rates and
 the tax laws enacted or substantially enacted as at the reporting date.
 Deferred tax liabilities are recognised for all timing differences.
 Deferred tax assets in respect of unabsorbed depreciation and carry
 forward of losses are recognised only if there is virtual certainty
 that there will be sufficient future taxable income available to
 realise such assets. Deferred tax assets are recognised for timing
 differences of other items only to the extent that reasonable certainty
 exists that sufficient future taxable income will be available against
 which these can be realised. Deferred tax assets and liabilities are
 offset if such items relate to taxes on income levied by the same
 governing tax laws and the Company has a legally enforceable right for
 such set off. Deferred tax assets are reviewed at each Balance Sheet
 date for their realisability. Current and deferred tax relating to
 items directly recognised in equity are recognised in equity and not in
 the Statement of Profit and Loss.
 
 Current and deferred tax relating to items directly recognised in
 equity are recognised in equity and not in the Statement of Profit and
 Loss.
 
 1.16.  Research and development expenses
 
 Revenue expenditure pertaining to research is charged to the Statement
 of Profit and Loss. Development costs of products are also charged to
 the Statement of Profit and Loss unless a product''s technological
 feasibility has been established, in which case such expenditure is
 capitalised. The amount capitalised comprises expenditure that can be
 directly attributed or allocated on a reasonable and consistent basis
 to creating, producing and making the asset ready for its intended use.
 Fixed assets utilised for research and development are capitalised and
 depreciated in accordance with the policies stated for Tangible Fixed
 Assets and Intangible Assets.
 
 1.17.  Impairment of assets
 
 The carrying values of assets / cash generating units at each Balance
 Sheet date are reviewed for impairment. If any indication of impairment
 exists, the recoverable amount of such assets is estimated and
 impairment is recognised, if the carrying amount of these assets
 exceeds their recoverable amount. The recoverable amount is the greater
 of the net selling price and their value in use. Value in use is
 arrived at by discounting the future cash flows to their present value
 based on an appropriate discount factor. When there is indication that
 an impairment loss recognised for an asset in earlier accounting
 periods no longer exists or may have decreased, such reversal of
 impairment loss is recognised in the Statement of Profit and Loss,
 except in case of revalued assets.
 
 1.18.  Provisions and contingencies
 
 A provision is recognised when the Company has a present obligation as
 a result of past events and it is probable that an outflow of resources
 will be required to settle the obligation in respect of which a
 reliable estimate can be made. Provisions (excluding retirement
 benefits) are not discounted to their present value and are determined
 based on the best estimate required to settle the obligation at the
 Balance Sheet date.  These are reviewed at each Balance Sheet date and
 adjusted to reflect the current best estimates. Contingent liabilities
 are disclosed in the Notes.
 
 1.19.  Derivative contracts
 
 The Company enters into derivative contracts in the nature of foreign
 currency swaps, currency options, forward contracts with an intention
 to hedge its existing assets and liabilities, firm commitments and
 highly probable transactions. Derivative contracts which are closely
 linked to the existing assets and liabilities are accounted as per the
 policy stated for Foreign Currency Transactions and Translations.
 Derivative contracts designated as a hedging instrument for highly
 probable forecast transactions are accounted as per the policy stated
 for Hedge Accounting. All other derivative contracts are
 marked-to-market and losses are recognised in the Statement of Profit
 and Loss.  Gains arising on the same are not recognised, until
 realised, on grounds of prudence.
 
 1.20.  Insurance claims
 
 Insurance claims are accounted to the extent that there is no
 uncertainty in receiving the claims.
 
 1.21.  Service tax input credit
 
 Service tax input credit is accounted for in the books in the period in
 which the underlying services are received and are accounted and when
 there is no uncertainty in availing / utilising the credits.