A. Terms/Rights attached with Equity Shares
 
 The Company has only one class of Equity Shares having a par value of Rs
 10/- per share. Each holder of Equity Shares is entitled to one vote
 per share.
 
 The Company declares and pays dividend in Indian Rupees except in the
 case of overseas shareholders where dividend is paid in respective
 foreign currencies considering foreign exchange rate applied at the
 date of remittance. The dividend proposed by the Board of Directors is
 subject to the approval of shareholders in the ensuing Annual General
 Meeting.
 
 During the year ended 31st March, 2012 the amount of dividend per share
 recognized as distribution to equity shareholders is Rs 5.50 (31st March
 2011, Rs 5.00).
 
 In the event of liquidation of the Company the holders of Equity Share
 will be entitled to receive remaining assets of the Company, after
 distribution of all preferential distribution in proportion to the
 number of Equity Shares held by the shareholders.
 
 (*) Represents relief/incentive granted by Government of India by way
 of refund of 90% of Customs Duty paid on NP Projects Imports. This
 amount is being adjusted against depreciation over the remaining useful
 life of the Fixed Assets of NP Project.
 
 Note: The Company has entered into option contract to cover its risk
 towards foreign exchange exposure on External Commercial Borrowings.
 The marked to market loss of Rs Nil (Previous Year: Rs 221.80 Lacs) has
 been provided in the accounts.
 
 Note: (i) Cash Credit facilities sanctioned by Banks including Working
 Capital Demand Loan and Buyer''s Credit are secured by a first charge by
 way of hypothecation of stocks of raw materials, finished goods,
 stock-in-process, consumable stores and book debts.
 
 (ii) Cash Credit is repayable on demand and carries variable interest
 (average for the year 13.25%).
 
 (iii) Buyer''s credits are generally due within 180 days and carry
 variable interest (average for the year 1.81%).
 
 The aggregate amount of unclaimed dividend of previous years'' as on
 31st March, 2012 was Rs 372.73 Lacs (Previous Year: Rs327.18 Lacs). In
 accordance with the provisions of Section 205A (5) of the Companies
 Act, 1956, the dividend unclaimed for a period of seven years from the
 date of transfer to the Unpaid Dividend Account shall be credited to
 the Investor Protection and Education Fund.
 
 Notes:
 
 (a) Freehold land includes:
 
 - Rs 3,600 Lacs (Previous Year Rs 3,600 Lacs) represented by 24,000
 Equity Shares of Rs 10/- each in a company, which is the legal owner of
 the land in respect of which the Company has acquired exclusive rights
 of development.
 
 - Rs 1,046.42 Lacs (Previous Year: Rs 815 Lacs) represented by 1,38,888
 Equity Shares (Previous Year: 8,024) of Rs 10/- each in the said
 company, which is the legal owner of the land on which the Company has
 been granted the rights of use and occupation by virtue of the shares
 so held.
 
 (b) Buildings include a sum of Rs 11,572.87 Lacs (Previous Year: Rs
 3,308.87 Lacs) represented by 38,236 (Previous Year: 17,628) Equity
 Shares of Rs 10/- each in a company which is the legal owner of the
 buildings in respect of which the Company has an exclusive right of use
 and occupation by virtue of the shares so held.
 
 (c) Gross Block of Plant and Machinery includes:
 
 - Rs.421.63 Lacs (Previous Year: Rs 421.63 Lacs) being the cost of Fixed
 Assets, ownership of which does not vest with the Company, being
 amortized over 60 months.
 
 - Rs.6,212.61 Lacs (Previous Year: Rs 4,564.61 Lacs) towards foreign
 exchange fluctuation on Long Term Loans.
 
 (d) During the year, the Company has acquired additional equity shares
 of an associate company viz: Yerrowda Investments Ltd. (YIL) by virtue
 of which The said company has become the Company''s subsidiary under the
 Companies Act, 1956. However, since these shares represent indefeasible
 and perpetual occupancy rights in the immovable properties owned by the
 said company, the cost of acquisition thereof is treated as part of
 fixed assets in consonance with the past practice.
 
 (e) Impairment of Assets: The Company has examined carrying cost of its
 identified Cash Generating Units (CGU) by comparing present value of
 estimated future cash flows from such CGUs, in terms of Accounting
 Standard-28 on Impairment of Assets, according to which no provision
 for impairment is required as assets of none of CGUs are impaired
 during the Financial Year ended 31st March, 2012.
 
 1. Contingent liabilities                             (Rs.in Lacs)
 
 Liabilities classified and considered contingent due to contested
 claims and legal           
                               31st March 2012       31 st March 2011 
 
 dispute
 
 Claim by Supplier                    2,610.52               5,963.81
 
 Income Tax demands                   2,131.50               1,152.77
 
 Excise demands                       2,295.06               1,574.16
 
 Sales Tax/VAT demands                1,747.58               1,657.20
 
 TOTAL                                8,784.66              10,347.94
 
 2.  Gas Authority of India Limited (GAIL) supplier to the Company of
 natural gas, one of the main raw materials, has affected the supplies
 at provisional rate as indicated in the invoices. According to the
 Company any revision in Natural Gas price will be only prospective as
 per the existing convention/practice followed by Government of India.
 
 3.  Details of Micro and Small Enterprises as defined under MSMED Act,
 2006
 
 To comply with the requirement of The Micro, Small And Medium
 Enterprises Development Act, 2006, the Company requested its suppliers
 to confirm it whether they are covered as Micro, Small or Medium
 enterprise as is defined in the said Act. Based on the communications
 received from such suppliers confirming their coverage as such
 enterprise, the Company has recognized them for the necessary treatment
 as provided under the Act, from the date of receipt of such
 confirmations and there is no default in payment to such enterprise as
 specified in the said Act. However, the amounts outstanding as well as
 interest applicable are insignificant and hence not separately
 disclosed.
 
 4.  Previous year''s figures have been re-grouped wherever necessary to
 conform to current year''s grouping.
 
 5.  The Financial Statements for the year ended 31st March, 2011 had
 been prepared as per the then applicable, pre-revised Schedule VI to
 the Companies Act, 1956. Financial Statements for the year ended 31st
 March, 2012 has been prepared as per Revised Schedule VI. Accordingly,
 the previous year figures have also been reclassified to conform to
 this year''s classification. The adoption of Revised Schedule VI does
 not impact recognition and measurement principles followed for
 preparation of Financial Statements.
 
 6.  Inter-segment Sales Pricing: Inter-segment revenue has been
 recognized as estimated under Excise Regulations.
 
 7.  Secondary Segment Information: There are no reportable geographical
 segments since the Company caters mainly to needs of Indian Markets.