(a) Basis of Preparation of Financial Statements:
 
 The financial statements are prepared and presented under the
 historical cost conventions, on accrual basis of accounting to comply
 in all material respects, with the mandatory Accounting Standards as
 notified by the Companies (Accounting Standards) Rules, 2006 as amended
 (''the Rules'') and the relevant provisions of the Companies Act, 1956
 (''the Act''). The accounting policies have been consistently applied by
 the Company and the Accounting Policies not referred to otherwise are
 in conformity with Indian Generally Accepted Accounting Principles
 (''India GAAP'').
 
 The preparation of financial statements in conformity with GAAP
 requires that the management of the Company makes estimates and
 assumptions that affect the reported amounts of income and expenses of
 the period, the reported balances of assets and liabilities and the
 disclosures relating to contingent liabilities as of the date of
 financial statements. Although these estimates are based upon
 management''s best knowledge of current events and actions, actual
 results could differ from these estimates. Difference between the
 actual results and estimates are recognized in the year in which the
 results are known / materialized. Wherever changes in presentation are
 made, comparative figures of the previous year are regrouped
 accordingly.
 
 (b) Revenue Recognition:
 
 i) Sales of Goods:
 
 Revenue is recognized only when the significant risks and rewards in
 respect of ownership of products are transferred by the company. Sales
 are recorded net of returns, Central Sales Tax / Value Added Tax and
 applicable trade discount and allowances.
 
 ii) Sale of Service:
 
 The Company recognizes revenue when the significant terms of the
 arrangement are enforceable, services have been delivered and the
 collectability is reasonably assured.
 
 iii) Interest:
 
 Interest income is recognized on time proportionate basis taking into
 account the amount outstanding and rate applicable.
 
 iv) Dividend:
 
 Dividend income is recognized when the Company''s right to receive
 dividend is established.  v) Others:
 
 Other revenue is accounted for in the year in which the right to
 receive the payment is established.
 
 (c) Fixed Assets:
 
 i) The fixed assets are stated at cost of acquisition including
 incidental expenses related to acquisition of the concerned assets,
 less accumulated depreciation.
 
 ii) Fixed assets are eliminated from financial statements either on
 disposal or when retired from active use.
 
 (d) Depreciation:
 
 i) Depreciation on fixed assets has been provided under Written Down
 Value Method at the rates prescribed under Schedule XIV to the
 Companies Act, 1956.
 
 ii) Depreciation on additions to fixed assets has been charged from the
 dates when they were first put to use.
 
 (e) Investments:
 
 i) Investments are classified as long term or current based on the
 intention of the management at the time of purchase.
 
 ii) Current Investment is valued at cost or fair value, whichever is
 lower.
 
 iii) Long Term Investments are carried at carrying cost less diminution
 in value which is other then temporary, determined separately for each
 individual investment.
 
 iv) Unquoted Investments are valued at cost.
 
 (f) Employee Benefits:
 
 i) Provident Fund:
 
 Employees receive benefits from a provident fund. The employee and
 employer each make monthly contributions to the plan. A portion of the
 contribution is made to the provident fund trust managed by the
 Company, while the remainder of the contribution is made to the
 Government''s provident fund.
 
 ii) Gratuity:
 
 In accordance with the Payment of Gratuity Act, 1972, the Company
 provides for a lump sum payment to eligible employees, at retirement or
 termination of employment based on the last drawn salary and years of
 employment with the Company.
 
 (g) Inventories:
 
 i) Raw Materials are valued at Cost or Net Realizable value which ever
 is lower as per FIFO method followed.
 
 ii) Manufactured finished goods are valued at lower of estimated cost
 or net realizable value as per FIFO method followed.
 
 iii) Traded goods are valued at lower of cost or net realizable value
 as per FIFO method followed.
 
 (h) Purchases:
 
 i) Purchases are recognized net of Value Added Tax.
 
 (i) Taxes on Income:
 
 i) Tax on income for the current period is determined on the basis of
 estimated taxable income and tax credits computed in accordance with
 the provisions of the Income Tax Act, 1961, and based on expected
 outcome of assessment/ appeals.
 
 ii) Deferred Tax is quantified using the tax rates and laws enacted or
 substantively enacted as on the balance sheet date.
 
 iii) Minimum Alternative Tax (MAT) credit is recognized as an asset
 only when and to the extent there is convincing evidence that company
 will pay income tax higher than that computed under MAT, during the
 period that MAT is permitted to be set off under the Income Tax Act,
 1961 (specified period). In the year, in which the MAT credit becomes
 eligible to be recognized as an asset in accordance with the
 recommendations contained in the guidance note issued by the Institute
 of Chartered Accountants of India (ICAI), the said asset is created by
 way of credit to the profit and loss account and shown as MAT Credit
 Entitlement. The Company reviews the same at each balance sheet date
 and writes down the carrying amount of MAT Credit Entitlement to the
 extent there is no longer convincing evidence to the effect that the
 company will pay income tax higher than MAT during the specified
 period.
 
 (j) Provisions, Contingent Liabilities and Contingent Assets:
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is present obligation as a result of past
 event and it is probable that there will be an outflow of resources.
 Contingent Liabilities are not recognized but are disclosed in the
 notes. Contingent Assets are neither recognized nor disclosed in the
 financial statements except where virtual certainty is there.
 
 (k) Event occurring garter the date of Balance Sheet:
 
 Material events occurring after the date of the Balance Sheet are
 considered upto the date of approval of accounts by the Board of
 Directors.
 
 (l) Cash Flow Statement:
 
 The Cash Flow Statement is prepared by the Indirect Method set out in
 Accounting Standard 3 on Cash Flow Statement and presents the cash
 flows by Operating, Investing and Financing activities of the Company.