The financial statements are prepared on an accrual basis and under the
 historical cost convention in accordance with Generally Accepted
 Accounting Principles in India, the Accounting Standards as prescribed
 by Companies (Accounting Standards) Rules, 2006 and the relevant
 provisions of the Companies Act, 1956.
 
 [a] Fixed Assets and Depreciation -
 
 Fixed assets are valued at cost [except as stated below], which
 includes the purchase price of the asset, and other direct costs
 incurred in getting the asset at the appropriate location and into a
 condition where they can be put to use. Financing costs incurred upto
 the date that the asset is ready to be used is included in the cost of
 the asset if they are significant. However, fixed assets costing upto
 Rs. 5,000 individually are charged off in the year of acquisition.
 
 In accordance with Accounting Standard 28, the Company will recognise
 impairment of fixed assets or a group of fixed assets, if their
 recoverable value (realisable value or discounted cash flow expected
 from the use of the asset) is lower than its carrying cost. If such
 indication exists, the carrying amount of such asset is lowered to the
 recoverable value and the reduction is treated as an impairment loss
 and is recognised in the profit and loss account.
 
 Office premises were revalued by Rs. 2,19.99 lacs during the year ended
 March 31, 1994 based on the report of the approved valuer to reflect
 the market price prevailing on December 31, 1993. This revaluation had
 been done to recognise the significant appreciation in the market value
 of the office since the date of acquisition.
 
 Depreciation [including depreciation on revalued portion of fixed
 assets] is calculated on the written down value method at the rates and
 in the manner, stated in Schedule XIV of the Companies Act, 1956,
 except computer software which is amortised over a period of five years
 on straight line method.
 
 Leasehold land is amortised over the period of lease.
 
 Cost of improvement of leased premises is depreciated on straight line
 basis over lease period which also includes extension period available
 under lease agreement.
 
 [b] Investments -
 
 Long Term investments are stated at cost. Current Investments are
 stated at lower of cost or fair value. Cost of investments is
 determined as the purchase price of the investments plus other direct
 costs incurred on establishing clear ownership of the investment.
 
 A provision for diminution is made to recognise a decline other than
 temporary in the value of long term investments.
 
 [c] Recognition of Revenue and Expenses -
 
 The Company generally adopts the proportionate completion method of
 revenue recognition where revenues are recognised as and when work is
 completed e.g. per day, per square meter etc.
 
 However, where the proportionate completion method cannot be easily
 implemented [e.g. on lump sum rate contracts], the Company adopts the
 completed contract method where revenues are recognised only when the
 contracts are fully completed, or easily identified portions of the
 contract are completed. At year end, expenses incurred on contracts for
 which revenues are not recognised are reflected as billable costs.
 
 Revenues include the amounts due under various contracts entered into
 with customers, including reimbursable expenses and interest payable by
 the client on overdue payments as per the terms of contracts, plus the
 fees earned on the chartering of the Company''s vessel to third parties
 when the vessel is not deployed on the Company''s contracts. The
 corresponding costs of reimbursable expenses are reflected in operating
 expenses. Revenues include adjustments for rebates, discounts and
 downtimes, which arise in the course of business during the year.
 
 Material, stores and spares are procured as per the needs of the
 projects and are charged to profit and loss account.
 
 [d] Foreign currency transactions -
 
 Foreign currency transactions are recorded in the books of account at
 the exchange rate prevailing on the date of the transaction. Any
 differences that arise in exchange rates on the date that these
 transactions are settled are recognised as foreign exchange gains or
 losses.
 
 In the event that transactions are not settled as of year end, all
 foreign currency monetary items are translated using the exchange rate
 prevailing at year end, and any resulting foreign exchange gains or
 losses are recognised as period costs.
 
 Investments in shares in foreign subsidiaries are recorded in the books
 of accounts at the historical exchange rates i.e. at the exchange rate
 prevailing on the date of subscribing to the shares.
 
 [e] Employees benefits -
 
 Short Term Employee Benefits
 
 Liability in respect of short term compensated absences is accounted
 for at undiscounted amount likely to be paid as per entitlement.
 
 Defined Contribution Plan
 
 Retirement benefits in the nature of Provident Fund, Superannuation
 Scheme and others which are defined contribution schemes, are charged
 to the Profit and Loss account of the year when contributions accrue.
 
 Defined Benefit Plan
 
 The liability for Gratuity, a defined benefit obligation, is accrued
 and provided for on the basis of actuarial valuation using the
 Projected Unit Credit method as at the Balance Sheet date.
 
 Other Long Term Benefits
 
 Long term compensated absences are provided on the basis of an
 actuarial valuation using the Projected Unit Credit method as at the
 Balance Sheet date. Actuarial gains and losses comprising of experience
 adjustments and the effects of changes in actuarial assumptions are
 recognised in the Profit and Loss account for the year as income or
 expense.
 
 [f] Deferred tax and Income tax -
 
 Deferred taxes arise due to the difference in recognition of income and
 expenses as per Company''s books of account prepared as per Generally
 Accepted Accounting Principles and as per the income tax returns
 prepared in accordance with the provisions of Indian Income-tax Act,
 1961. These differences may be permanent in nature, or they may
 represent a timing difference and consequently may affect the future
 profitability after tax of the Company.
 
 In order to minimise the effect of deferred taxes in future years, the
 Company provides for deferred taxes using the liability method in
 accordance with the Accounting Standards 22 issued by the Institute of
 Chartered Accountants of India. Deferred taxation is recognised on
 items relating to timing difference, at the income tax rates and tax
 laws that have been enacted or substantively enacted by the balance
 sheet date, and is reviewed every year for the appropriateness of their
 carrying value on each Balance Sheet date.
 
 [g] Earnings per share -
 
 Earnings per share have been calculated on the basis of the weighted
 average of the number of equity shares of Rs. 10/- each that are
 outstanding as at the balance sheet date. Diluted earnings per share is
 calculated on the basis of the weighted average of the number of equity
 shares outstanding as at the balance sheet date plus the dilutive
 equity shares that the Company may need to issue on convertible
 instrument.
 
 i) Use of Estimates
 
 The preparation of financial statements requires estimates and
 assumptions to be made that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the reported amounts of revenues and expenses
 during the reporting period. Difference between the actual results and
 estimates are recognized in the period in which the results are
 known/materialized.
 
 ii) Provision, Contingent Liabilities and Contingent Assets:
 
 Provisions are recognized for liabilities that can be measured only by
 using a substantial degree of estimation, if
 
 a.  the Company has a present obligation as a result of past event,
 
 b.  a probable outflow of resources is expected to settle the
 obligation and
 
 c.  the amount of the obligation can be reliably estimated Contingent
 Liability is disclosed in case of
 
 a.  a present obligation arising from a past event, when it is not
 probable that an outflow of resources will be required to settle the
 obligation,
 
 b.  a possible obligation, unless the probability of outflow of
 resources is remote.  Contingent Assets are neither recognized, nor
 disclosed.