1.  General Information
 
 Cupid Limited (''the Company'') is a public company domiciled and
 incorporated in name of Cupid Rubber Limited in the state of
 Maharashtra on 17th February, 1993. The name was subsequently changed
 to Cupid Condom Limited with effect from 8th December, 2003 and further
 change to Cupid Limited with effect from 2nd January, 2006 as per
 permission affirmation by Central Government.  The Company received the
 Certificate of Commencement of Business on 20th February, 1993.  The
 main object of Company on incorporation was to carry on business of
 dealing, marketing and manufacture of rubber contraceptives and allied
 prophylactic products. Later on main object of Company have been
 appended with obligatory permissions entered into Diamonds, Gold,
 Silver and other allied precious products international or domestic
 trading/manufacturing/connected business segments.
 
 Terms and Condition for issued share warrant I Convertible warrants
 
 1.  The issue of warrants convertible into equity shares on
 preferential basis are as per price determined in compliance with
 SEBIICDR Regulations 2009 for Preferential Issues as amendments thereof
 
 2.  25% of the value of the Warrant are been paid on the date of
 allotment of warrant. The balance is payable at the time of conversion.
 Each Warrant will be converted at the option of the allottee, into one
 equity share at any time within 18 months from the date of
 
 3.  In case the option is not exercised within a period of 18 months
 from the date of issue, the aforsaid 25% amount paid on the date of
 allotment shall be forfeited.
 
 4.  The Warrants shall be locked in form a period of one/three years
 from the date of allotment as prescribed under SEBI ICDR Regulation
 2009 as amended.
 
 5.  The lock-in on the Equity Shares resulting from the exercise of the
 option under the warrants shall be locked in for a period of one/three
 year from the date of allotment as prescribed under SEBI ICDR
 Regulation 2009 as amended.
 
 i) Terms loan is secured by a first charge on all the moveable and
 immovable properties / current assests including all the Plant and
 Machinery, Land and Building of the Company, on both being it be
 present and further created by way of hypothecation.
 
 ii) Additionally all above loans have been personally guranted by Mr.
 Omprakash Garg, Chairman and Mr. Durgesh Garg.
 
 iii) 10,01,500 Equity Shares of the company of Rs. 10 each held by
 promoter has been pledged with Bank as collaratel against Term and Cash
 Credit facilities.
 
 # Instalment due on term loan on 31-3-2012 was debited by bank in the
 month of April, 2012.
 
 * Installments falling due in respect of all the Loans upto 31 st March
 2013 have been grouped under Current maturities of Loan-term debt
 (Refer Note no # 7)
 
 a) Working Capital Assistance Loan from banks is secured by
 hypothecation of stock of raw materials, WIP and finished goods and
 book debts.
 
 b) Additionally above loan have been personally guranted by Mr.
 Omprakash Garg, Chairman and Mr. Durgesh Garg
 
 c) Maturity period with respect to Cash Credit is renewable every year
 
 d) Rate of interest on cash credit is IVRR Less 3% as on 31 st March,
 2012 IVRR is 16.75%
 
 # The Company issued 15,00,000 convertible warrants at price of Rs.
 10/- to be converted to equal number of Equity Shares of face value of
 Rs. 10/- each as per shareholder approval at EGM 20th July 2011, of
 which 14,05,000 convertible warrants are outstanding as on 31st March,
 2012.
 
 # The Company issued 11,50,000 convertible warrants at price of Rs.
 10.50 to be converted to equal number of Equity Shares face value Rs.
 10/- each as per shareholder approval at EGM 5th June 2010, of which
 6,42,100 convertible warrants are outsatnding as on 31 st March, 2011.
 
 NOTE NO. 3
 
 OTHER NOTES FOR FINANCIAL STATEMENTS 
 
 A.  Other Notes to the Balance Sheet
 
 1.  Company has no Contignent Liabilities as on 31 st March, 2012.
 
 2.  In view of the insufficient information from the suppliers
 regarding their status as SSI units, the amounts due to Small Scale
 Industrial undertaking cannot be ascertained.
 
 3.  All of the assets other than fixed assets and non-current
 investments, have been are carried at cost of acquisition.
 
 4.  There was no impairment loss on Fixed Assets on the basis of review
 carried out but the Management in accordance with Accounting Standard
 28 issued by the Institute of Chartered Accountants of India.
 
 B.  Other Notes to the Statement of Profit and Loss
 
 1. Details regarding Imported and Indigenous Material Consumed
 
 3.  Traveling expenses includes Rs. 4.68 Lacs (previous year Rs. 19.76
 Lacs) spent on Foreign Travel.
 
 C.  Other Notes to the Financial Statemnets
 
 1.  Related Party Disclosure for the year ended (AS -18)
 
 i) Key Personnel & Relatives
 
 a) Mr. Omprakash Garg Chairman
 
 b) Mr. Durgesh Garg Director
 
 c) Mr. Pawan Bansal Sister''s son of Mr Omprakash Garg
 
 Previous year figures have been regrouped and recasted, wherever
 considered necessary.
 
 Additional information as required under part II as per Schedule VI to
 the Companies Act 1956 has been given to the extent applicable to the
 Company as per annexure A annexed herewith.