a.  Basis of Accounting:
 
 The financial statements are prepared on a historical cost convention
 on the accrual basis and materially comply with the accounting standard
 notified by Companies (Accounting Standard) Rules, 2008 and relevant
 provisions of the Companies Act, 1956.
 
 b.  Fixed Assets :
 
 Fixed Assets are stated at cost of acquisition including any
 attributable cost for bringing the assets to its working condition less
 Depreciation.
 
 c.  Depreciation:
 
 The Company has provided depreciation on Straight Line Method on all
 Fixed Assets on Pro- rata basis as per Rates specified in schedule XIV
 of the Companies Act, 1956.
 
 d.  Taxation:
 
 i) Provision for current tax is made and retained in the accounts on
 the basis of estimated tax liability as per applicable provision of
 Income Tax Act, 1961.
 
 ii) Deferred Tax resulting from timing difference between book and tax
 profit is accounted for under the liability method, at the current rate
 of tax, to the extent that the timing difference are expected to
 crystallize.
 
 e.  Revenue Recognition:
 
 Sales are accounted for on dispatch of goods to the customers and are
 inclusive of Excise Duty but net of sales returns and trade discounts.
 
 f.  Foreign Currency Transactions / Exchange Fluctuation
 
 (a) Monetary Transactions related to foreign currency are accounted for
 at the equivalent rupee converted at the rates prevailing at the time
 of respective transactions and outstanding in respect thereof are
 translated at period end rates. Exchange difference is charged to the
 revenue account except arising on account of conversion related to the
 purchase of fixed asset is adjusted therewith.
 
 (b) Non-monetary foreign currency items are carried at cost.
 
 g.  Borrowing cost:
 
 Borrowing costs, which are attributable to acquisition or construction
 of qualifying assets, are capitalized as part of cost of such assets
 till such assets are ready for its intended use. A qualifying asset is
 one, which necessarily takes substantial period of time to get ready
 for intended use. All other borrowing costs are charged to revenue.
 
 h.  Inventories:
 
 Raw Materials are valued at cost, however appropriate provisions are
 made for anticipated losses, if any. Cost in respect of Raw Materials
 is computed on FIFO basis. Other inventories are valued at the Lower of
 cost or net realizable value. Net realizable value is the estimated
 selling price in the ordinary course of business less the estimated
 cost of completion and estimated cost necessary to make sale. Cost in
 respect of process and finished goods are computed on weighted average
 basis method. Finished goods and process stock includes cost of
 conversion and other costs incurred in acquiring the inventory and
 bringing them to their present location and condition.
 
 i.  Investments:
 
 Long Term Investments are stated at cost. Provision is only made to
 recognize a decline other than temporary, in the value of investments.
 However, where quotation as on 31st March, 2012 was not available, last
 available quotation was considered.
 
 Employee''s Benefits:
 
 a.  The Employee and Company make monthly fixed Contribution to
 Government of India Employee''s Provident Fund equal to a specified
 percentage of the Covered employee''s salary,
 
 Provision for the same is made in the year in which services are
 rendered by the employee.
 
 b.  The Liability for Gratuity to employees, which Is a defined benefit
 plan. The Company''s Scheme is administered by LIC The liability is
 determined by based on Projected Unit Credit method.  Actuarial gain /
 loss in respect of the same are charged to the Statement of profit and
 loss.
 
 c.  The Company followed cash method of accounting in respect of Leave
 Encashment and in absence of actuarial valuation, the amount is not
 ascertainable.
 
 k.  Segment Information:
 
 Based on the principles for determination of segments given in
 Accounting Standard 17 Segment Reporting*'' issued by accounting
 standard notified by Companies (Accounting Standard) Rules, 2008, the
 company is mainly engaged in the business of Decorative Laminated
 Sheets and all other activity surrounded with main business of the
 company hence there is no reportable segment
 
 I.  Impairment
 
 The management periodically assesses, using external and internal
 sources whether there is an indication that an asset may be impaired.
 If an asset is impaired, the company recognizes an impairment loss as
 the excess of the carrying amount of the asset over the recoverable
 amount.
 
 m.  Earnings per Share
 
 Basic earnings per share is -calculated by dividing net profit after
 tax for the year attributable to Equity Shareholders of the company by
 the weighted average number of Equity Shares issued during the year.
 Diluted earnings per share is calculated by dividing net profit
 attributable to equity Shareholders (after adjustment for diluted
 earnings) by average number of weighted equity shares outstanding
 during the year.
 
 n.  Provision, Contingent Liabilities and Contingent Assets :
 
 Provision involving substantial degree of estimation in measurement is
 recognized when there is a present obligation as a result of past
 events 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.
 
 o.  Excise Duty, VAT & CENVAT:
 
 CENVAT / VAT credit on materials purchased for production / service
 availed for production / input service are taken into account at the
 time of purchase and CENVAT / VAT credit on purchase of capital Kerns
 wherever applicable are taken into account as and when the assets are
 acquired.
 
 The CENVAT credits so taken;are utilized for payment of excise duty on
 goods manufactured. The unutilized CENVAT credit is carried forward in
 the books. The VAT-credits so taken are utilized for payment of sales
 tax on goods sold. The unutilized VAT credit is carried forward in the
 books.
 
 p.  Accounting policies not specifically referred to otherwise are
 consistent with generally accepted accounting principles.