The financial statements are prepared to comply in all material aspects
 with the applicable accounting principles in India, the Accounting
 Standards notified by the Companies (Accounting Standard) Rule 2006 and
 the relevant provisions of the Companies Act, 1956. The significant
 accounting policies are as follows
 
 A.  Basis of Accounting
 
 The financial statements are prepared in accordance with the historical
 cost convention.
 
 B.  Use of Estimates
 
 The preparation of financial statements requires management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities, disclosure of contingent amounts as at the date of the
 financial statements and reported amounts of revenues and expenses
 during the reporting period. Actual results could differ from these
 estimates. Any revision to accounting estimates is recognized
 prospectively when revised.
 
 C.  Fixed Assets / Capital Work in Progress
 
 Expenditure, which is of capital nature, is capitalized. Such
 expenditure includes purchase price, import duties, levies and
 attributable cost of bringing the asset to its operating condition. The
 assets acquired on Hire Purchase basis have been capitalized at the
 gross value and interest thereon is charged to Statement of profit and
 loss. Projects under commissioning and other Capital Work-in-Progress
 are carried at costs; comprising direct cost, related incidental
 expenses and interest on borrowings.
 
 D.  Depreciation / Amortization
 
 I.  Tangible Assets
 
 Depreciation has been calculated in accordance with Section 205(2) (b)
 of the Companies Act, 1956, as under:
 
 a.  The depreciation is provided from the date the assets are put to
 use, on straight-line method at the rates prescribed under Schedule XIV
 of the Companies Act, 1956, except following assets which are
 depreciated over period of its estimated useful life:
 
 b.  The Company provides 100% depreciation on fixed assets with value
 less than or equal to Rs. 0.05 lakhs as per the provisions of Schedule
 XIV of the Companies Act 1956.
 
 c.  Leasehold Improvements are amortized over the primary lease period.
 
 II.  Intangible Assets
 
 a.  These are amortized over their useful life, not exceeding five
 years.
 
 b.  Deferred Revenue Expenditure is written off in the year of
 expenditure.
 
 III. Leasehold land, which are given by Central / State Government
 authorities are not amortized in view of the long tenure of the lease.
 
 E.  Investments
 
 Long term investments are stated at cost less permanent diminution in
 value, if any.
 
 F.  Valuation of Inventories
 
 Raw Materials, Stock in Process, Stores and Spares are valued at cost
 and net of credits under the scheme of Cenvat Rules and VAT Rules.
 Finished goods are valued at cost or Market Value / Contract Price,
 whichever is less. Cost is determined on a weighted average basis.
 Excise duty is included in the value of finished goods.
 
 G.  Revenue Recognition
 
 I.  Sales are inclusive of Excise Duty, Duty Drawback but net of Sales
 Tax, Vat, Returns, Trade Discounts and incentives.
 
 II.  Revenue from long term contracts are recognized on the percentage
 of completion method, in proportion that the contract costs incurred
 for work performed up to the reporting date bear to the estimated total
 contract costs. Contract revenue earned in excess of billing has been
 reflected under Other Current Assets and billing in excess of
 contract revenue has been reflected under Current Liabilities in
 the balance sheet. Full provision is made for any loss in the year in
 which it is first foreseen.
 
 III. Dividend Income is recognized when the right to receive dividend
 is established. Interest Income is recognized on time proportion basis.
 
 H.  Foreign Exchange Transactions
 
 Foreign Currency transactions are recorded at exchange rates prevailing
 on the date of respective transactions. Monetary assets and liabilities
 related to foreign currency transactions remaining unsettled at the end
 of the year are translated at year-end rates. Non-monitory foreign
 currency items are carried at cost. The differences in translation of
 monetary assets and liabilities and realized gains and losses on
 foreign exchange transactions are recognized in the Statement of profit
 and loss, except in case of long term liabilities, where they relate to
 acquisition of fixed assets, in which case they are adjusted in
 carrying cost of fixed assets.
 
 The Company uses derivative financial instruments such as forward
 exchange contracts to hedge its risks associated with foreign currency
 fluctuation.
 
 Gain or loss on restatement of forward exchange contracts for hedging
 underlying outstanding at the balance sheet date are recognized in the
 statement of profit and loss for the year in which it occurs. The
 premium or discount on such contracts is recognized in the statement of
 profit and loss over the period of the contract.
 
 Gain or loss on fair valuation of forward exchange contracts and
 embedded derivative contracts for hedging highly forecasted transaction
 are recognized in the statement of profit and loss for the year in
 which it occurs.
 
 I.  Derivative instruments (Commodity derivatives)
 
 In order to hedge its exposure to commodity price risk, the Company
 enters into non speculative hedges, such as forward, option or swap
 contracts and other appropriate derivative instruments. These
 instruments are used only for the purpose of managing the exposure to
 commodity price risk and not for speculative purposes. The premium and
 gains / losses arising from settled derivative contracts, and mark to
 market (MTM) losses in respect of outstanding derivative contracts as
 at balance sheet date are credited for gains or charged for losses to
 the raw material consumed in so far as it relates to the derivative
 instruments taken to hedge risk of movement in price of Raw Material,
 the net MTM gains in respect of outstanding derivatives contracts are
 not recognized on conservative basis.
 
 J. Export Obligations / Entitlements / Incentives
 
 Benefit / (Obligation) on account of entitlement on export or deemed
 export orders, to import duty-free raw materials, under the various
 Exim Schemes are estimated and accounted in the year in which the
 export / deemed export orders are executed.
 
 K. Employee Benefits
 
 Short term employee benefits are recognized as an expense at
 un-discounted amount in the statement of profit and loss of the year in
 which services are rendered. Provision for gratuity and other long term
 employee benefits-leave, defined benefit schemes, are made on the basis
 of actuarial valuations made at the end of each financial year are
 charged to the statement of profit and loss during the year.
 
 Actuarial gains and losses are recognized immediately in the statement
 of profit and loss.
 
 L. Operating Lease
 
 Leases, where the lessor effectively retains substantially all the
 risks and benefits of ownership of the leased item, are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the statement of profit and loss on a straight-line basis over the
 lease term.
 
 M. Stock Based Compensation
 
 In accordance with the Employee Stock Option Scheme (ESOS), the Company
 recognizes the excess, if any, of the market price of the options
 granted as on the date of the grant over the exercise price of the
 options, and amortizes it on a straight-line basis over the vesting
 period.
 
 N. Taxation
 
 a.  Provision for Income Tax is made under the liability method after
 availing exemptions and deductions at the rates applicable under the
 Income Tax Act, 1961.
 
 b.  Deferred tax resulting from timing difference between book and tax
 profits is accounted for using the tax rates and laws
 
 that have been enacted as on the Balance Sheet Date.
 
 c.  Deferred tax assets arising on the temporary timing differences are
 recognized only if there is reasonable certainty of realization.
 
 O. Impairment of Assets
 
 The carrying amount of assets is reviewed periodically for any
 indication of impairment based on internal / external factors.  An
 impairment loss is recognized wherever the carrying amount of an asset
 exceeds its recoverable amount. The recoverable amount is the greater
 of the assets net selling price and value in use. In assessing value in
 use, the estimated future cash flows are discounted to their present
 value at the weighted average cost of capital. Post impairment,
 depreciation is provided on the revised carrying value of the asset
 over its remaining useful life.
 
 P. Borrowing Costs
 
 Interest and other costs in connection with the borrowing of the funds
 to the extent related / attributed to the acquisition / construction of
 qualifying fixed assets are capitalized up to the date when such assets
 are ready for its intended use and other borrowing costs are charged to
 the Statement of Profit and Loss.
 
 Q. Provisions for contingencies
 
 A provision is recognized when:
 
 - The Company has a present obligation as a result of a past event;
 
 - It is probable that an outflow of resources embodying economic
 benefits which will be required to settle the obligation; and
 
 - A reliable estimate can be made of the amount of the obligation.
 
 A disclosure for a contingent liability is made when there is a
 possible obligation or a present obligation that may, but probably will
 not, require an outflow of resources. Where there is a possible
 obligation or a present obligation that the likelihood of outflow of
 resources is remote, no provision or disclosure is made.
 
 The Company provides for warranty cost based on a technical estimate of
 the costs required to be incurred for repairs, replacement, material
 cost, servicing and past experience in respect of warranty costs. It is
 expected that this expenditure will be incurred over the contractual
 warranty period.
 
 R. Research and Development
 
 All revenue expenses pertaining to research are charged to the
 statement of profit and loss in the year in which they are incurred and
 development expenditure of capital nature is capitalized as fixed
 assets and depreciated as per the Company''s policy.
 
 In the Extra Ordinary General Meeting of the Members of the Company
 held on 22nd June 2009, the members had approved the issuance of
 warrants to the Promoter / Promoter Group, entitling the warrant
 holders to apply from time to time for equity shares of the company in
 one or more tranches on preferential basis not exceeding 63,00,000
 fully paid-up equity shares of the face value of Rs. 2 each. During the
 year, One of the Promoter has applied for conversion of balance Nil
 (32,10,000) warrants applied in previous year into equivalent number of
 equity shares and the company has allotted Nil (32,10,000) equity
 shares to One of the Promoter @ Rs. Nil (Rs. 62) per shares (including
 premium of Rs. Nil (Rs. 60) per share).