1. Segment reporting
 
 The Company has disclosed business segments as the primary segment.
 Segments have been identified by the Management taking into account the
 nature of products, manufacturing process, customer profiles, risk and
 reward parameters and other relevant factors.
 
 The Company''s operations have been classified into two primary
 segments, Electrical Insulations and Engineering and Electronic
 Resins and Materials. Segment assets include all operating assets used
 by the business segment and consist primarily of fixed assets, debtors
 and inventories. Segment liabilities primarily include creditors and
 other liabilities. Assets and liabilities that cannot be allocated
 between the segments are shown as a part of unallowable assets and
 liabilities.
 
 Secondary segments have been identified with reference to geographical
 location of the customers. The Company has identified India and outside
 India as the two geographical segments for secondary segmental
 reporting. Geographical sales are segregated based on the location of
 the customer who is invoiced. Assets other than receivables used in the
 Company''s business or liabilities contracted have not been identified
 to any of the reportable geographical segments, as these are used
 interchangeably between geographical segments. All assets other than
 receivables are located in India.  Similarly, capital expenditure is
 incurred towards fixed assets in India.
 
 2.1 A.  Key management personnel and relatives of key management
 personnel Key management personnel:
 
 Mr. RajeevBhide
 
 Mr. Prashant Deshpande (upto9July2012)
 
 Mr. Sharad kumar Shetye
 
 Relatives of key management personnel:
 
 Mrs. M.R.Shetye
 
 3. Management believes that the Company''s international transactions
 with related parties post 31 March 2012 (last period up to which an
 Accountants'' report has been submitted as required under the Income tax
 Act, 1961) continue to beat arm''s length and that the transfer pricing
 legislation will not have any impact on these financial statements,
 particularly on the amount of tax expense and that of provision for
 taxation.
 
 4. The financial statements for the year ended 31 December 2011 had
 been prepared as per the then applicable pre revised Schedule VI of the
 Companies Act 1956. Consequent to the notification of revised Schedule
 VI under Company''s Act 1956, the financial statements for the year
 ended 31 December 2012 are prepared as per revised Schedule VI.
 Accordingly, the previous year''s figures have also been reclassified to
 conform to this year''s classification.