a) Change in accounting policy
 
 Presentation and disclosure of financial statements
 
 During the year ended March 31, 2012, the revised Schedule VI notified
 under the Companies Act 1956, has become applicable to the Company, for
 preparation and presentation of its financial statements. Except
 accounting for dividend on investments in subsidiary Companies (see
 below), the adoption of revised Schedule VI does not impact recognition
 and measurement principles followed for preparation of financial
 statements. However, it has significant impact on presentation and
 disclosures made in the financial statements. The Company has also
 re-classified the previous year figures in accordance with the
 requirements applicable in the current year.
 
 Dividend on investment in subsidiary companies
 
 Till the year ended March 31, 2011, the company, in accordance with the
 pre-revised Schedule VI requirement, was recognizing dividend declared
 by subsidiary companies after the reporting date in the current year''s
 statement of profit and loss if such dividend pertained to the period
 ending on or before the reporting date. The revised Schedule VI,
 applicable for financial years commencing on or after April 1, 2011,
 does not contain this requirement. Hence, to comply with AS -9 Revenue
 Recognition, the company has changed its accounting policy for
 recognition of dividend income from subsidiary companies. In accordance
 with the revised policy, the company recognizes dividend as income only
 when the right to receive the same is established by the reporting
 date. Dividend received during the year Rs. Nil (previous year Rs.
 Nil).
 
 b) Basis of preparation
 
 The financial statements of the company have been prepared in
 accordance with generally accepted accounting principles in India
 (Indian GAAP). The company has prepared these financial statements to
 comply in all material respects with the accounting standards notified
 under the Companies (Accounting Standards) Rules, 2006,(as amended) and
 the relevant provisions of the Companies Act.1956. The financial
 statements have been prepared under the historical cost convention on
 an accrual basis except in case of assets for which revaluation is
 carried out. The accounting policies adopted in the preparation of
 financial statements are consistent with those of previous year, except
 for the change in accounting policy explained above.
 
 c) Use of estimates
 
 The preparation of financial statements in conformity with Indian GAAP
 requires the management to make judgments, estimates and assumptions
 that affect the reported amounts of revenues, expenses, assets and
 liabilities and the disclosure of contingent liabilities, at the end of
 the reporting period. Although these estimates are based on the
 management''s best knowledge of current events and actions, uncertainty
 about these assumptions and estimates could result in the outcomes
 requiring a material adjustment to the carrying amounts of assets or
 liabilities in future periods.
 
 d) Tangible fixed Assets
 
 Tangible fixed assets are stated at cost, less accumulated depreciation
 and impairment losses, if any, except Land, Building and Plant &
 Machinery, which had been revalued on 31.10.1992 by a Government
 registered valuer on the basis of the then replacement value. The cost
 comprises purchase price, borrowing costs if capitalization criteria
 are met and directly attributable cost of bringing the asset to its
 working condition for the intended use. Any trade discounts and rebates
 are deducted in arriving at the purchase price.
 
 Expenditure directly relating to construction activity is capitalized
 (net of income, if any). Indirect expenditure specifically attributable
 to construction of a project or to the acquisition of the fixed assets
 or bringing it to working condition is capitalised as part of
 Construction project or as a part of Fixed assets. Other indirect
 expenditure incurred during the construction period which is not
 related to construction activity nor is incidental thereto is charged
 to Profit & Loss account.
 
 Gains or losses arising from derecognition of fixed assets are measured
 as the difference between the net disposal proceeds and the carrying
 amount of the asset and are recognized in the statement of profit and
 loss when the asset is derecognized.
 
 Subsequent expenditure related to an item of fixed asset is added to
 its book value only if it increases the future benefits from the
 existing asset beyond its previously assessed standard of performance.
 All other expenses on existing fixed assets, including day-to-day
 repair and maintenance expenditure and cost of replacing parts, are
 charged to the statement of profit and loss for the period during which
 such expenses are incurred.
 
 e) Depreciation
 
 i.  Depreciation on fixed assets (other than lease hold improvements)
 is provided using Straight Line Method as per rates prescribed under
 Schedule XIV of the Companies Act, 1956. The management of the Company
 is of the view that this depreciation rate fairly represents the useful
 life of the assets except for the following assets where a higher rate
 is used:
 
 ii.  Fixed assets costing below Rs.5000 are depreciated at the rate of
 100%.
 
 iii. Depreciation on the revalued portion of fixed assets is adjusted
 against the revaluation reserve.
 
 iv.  Depreciation on the amount of additions made to fixed assets due
 to upgradations / improvements is provided over the remaining useful
 life of the asset to which it relates.
 
 v.  Depreciation on fixed assets added/disposed off during the year is
 provided on pro-rata basis.
 
 vi.  Leasehold improvements are amortised over a primary period of
 lease or useful life, whichever is lower.
 
 f) Intangibles
 
 Software costs relating to acquisition of initial software license fee
 and installation costs are capitalized in the year of purchase.
 Software''s are amortized on a straight-line basis over its useful life,
 which is considered to be of a period of three years.
 
 g) Impairment of assets
 
 i) The carrying amounts of assets are reviewed at each balance sheet
 date if there is 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 asset''s net selling price and
 value in use. In assessing value in use, the estimated future cash
 flows are discounted to their present value a pre-tax discount rate
 that reflects current market assessment of the time value of money and
 risks specific to asset.
 
 ii) After impairment, depreciation is provided on the revised carrying
 amount of the asset over the remaining useful life.
 
 h) Leases
 
 Where the Company is the lessee
 
 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 Profit & Loss Account on a straight-line basis over the lease
 term.
 
 i) Investment
 
 Investments that are readily realizable and intended to be held for not
 more than a year are classified as current investments.  All other
 investments are classified as long-term investments. Current
 investments are carried at lower of cost and fair value determined on
 an individual investment basis. Long-term investments are carried at
 cost. However, provision for diminution in value is made to recognize a
 decline other than temporary in the value of such investments.
 
 j) Inventories
 
 Inventories are valued as follows:
 
 Raw materials, Components and stores & spares
 
 Lower of cost and net realizable value. However, materials and other
 items held for use in the production of inventories are not written
 down below cost if the finished products, in which they will be
 incorporated, are expected to be sold at or above cost. Cost of raw
 materials, components and stores & spares is determined on a moving
 weighted average basis.
 
 Work-in-progress and finished goods
 
 Lower of cost and net realizable value. Cost includes direct materials
 and labour and a proportion of manufacturing overheads based on normal
 operating capacity. Cost of finished goods includes excise duty. Cost
 is determined on moving weighted average basis.
 
 Net realizable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and estimated
 costs necessary to make the sale.
 
 k) Revenue recognition
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 Sale of Goods
 
 Revenue from sale of goods is recognized when all the significant risks
 and rewards of ownership of the goods have been passed to the buyer.
 The company collects sales taxes and value added taxes (VAT) on behalf
 of the government and, therefore, these are not economic benefits
 flowing to the company. Hence, they are excluded from revenue. Excise
 duty deducted from revenue (gross) is the amount that is included in
 the revenue (gross) and not the entire amount of liability arising
 during the year.
 
 Export Benefit
 
 Export Benefits constituting import duty benefits under Duty Exemption
 Pass Book (DEPB), Duty Draw back and advance license scheme are
 accounted for on accrual basis. Export benefits under Duty Exemption
 Pass Book (DEPB) & Duty Draw back are considered as other operating
 income.
 
 Interest
 
 Revenue is recognised on a time proportion basis taking into account
 the amount outstanding and the rate applicable.  Dividends
 
 Dividend income is recognized when the company''s right to receive
 dividend is established by the reporting date.
 
 Policy for Insurance Claims
 
 Claims receivable on account of insurance are accounted for to the
 extent the Company is reasonably certain of their ultimate collection.
 
 l) Foreign currency transactions
 
 Initial Recognition
 
 Foreign currency transactions are recorded in the reporting currency,
 by applying to the foreign currency amount the exchange rate between
 the reporting currency and the foreign currency at the date of the
 transaction.
 
 Conversion
 
 Foreign currency monetary items are reported using the closing rate.
 Non-monetary items which are carried in terms of historical cost
 denominated in a foreign currency are reported using the exchange rate
 at the date of the transaction; and non-monetary items which are
 carried at fair value or other similar valuation denominated in a
 foreign currency are reported using the exchange rates that existed
 when the values were determined.
 
 Exchange Differences
 
 Exchange differences arising on the settlement of monetary items not
 covered above, or on reporting such monetary items of company at rates
 different from those at which they were initially recorded during the
 year, or reported in previous financial statements, are recognized as
 other income or as expenses in the year in which they arise.
 
 Forward Exchange Contracts not intended for trading or speculation
 purposes
 
 The premium or discount arising at the inception of forward exchange
 contracts is amortised as expense or income over the life of the
 contract. Exchange differences on such contracts are recognised in the
 statement of profit and loss in the year in which the exchange rates
 change. Any profit or loss arising on cancellation or renewal of
 forward exchange contract is recognised as income or as expense for the
 year.
 
 m) Retirement and other employee benefits
 
 i.  Retirement benefits in the form of Superannuation Fund (being
 funded to LIC) are funded defined contribution schemes and the
 contributions are charged to the Profit and Loss Account of the year
 when the contributions to the respective funds are due. There are no
 other obligations other than the contribution payable.
 
 ii.  Gratuity liability is defined benefit obligation and is provided
 for on the basis of an actuarial valuation on projected unit credit
 method made at the end of each financial year.
 
 iii. Retirement benefits in the form of Provident Fund (where
 contributed to the Regional Provident Fund Commissioner) and employee
 state insurance are defined contribution scheme and the contributions
 are charged to the statement of profit and loss of the year when the
 contributions to the fund are due. There are no other obligations other
 than the contribution payable to the respective authorities.
 
 Retirement benefit in the form of provident Fund (Where administered by
 trust created and managed by Company) is a defined benefit obligation
 of the company and the contributions are charged to statement of profit
 & loss of the year when the contribution to the respective funds are
 due. Shortfall in the funds, if any, is adequately provided for by the
 company.
 
 iv.  Short term compensated absences are provided for based on
 estimates. Long term compensated absences are provided for based on
 actuarial valuation. The actuarial valuation is done as per projected
 unit credit method.
 
 v.  Actuarial gains/losses are immediately taken to Profit and Loss
 account and are not deferred.  n) Income Taxes
 
 Tax expense comprises of current and deferred tax. Current income tax
 is measured at the amount expected to be paid to the tax authorities in
 accordance with the Income Tax Act, 1961. Deferred income taxes
 reflects the impact of current year timing differences between taxable
 income and accounting income for the year and reversal of timing
 differences of earlier years.
 
 Deferred tax is measured based on the tax rates and the tax laws
 enacted or substantively enacted at the balance sheet date.  Deferred
 tax assets are recognised only to the extent that there is reasonable
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets can be realised. If the company
 has unabsorbed depreciation and carry forward of tax losses, all
 deferred tax assets are recognised only if there is virtual certainty
 supported by convincing evidence that such deferred tax assets can be
 realised against future taxable profits.
 
 At each balance sheet date the Company re-assesses unrecognized
 deferred tax assets. It recognises unrecognized deferred tax assets to
 the extent that it has become reasonably certain or virtually certain,
 as the case may be that sufficient future taxable income will be
 available against which such deferred tax assets can be realised.
 
 The carrying amount of deferred tax assets are reviewed at each balance
 sheet date. The Company writes-down the carrying amount of a deferred
 tax asset to the extent that it is no longer reasonably certain or
 virtually certain, as the case may be, that sufficient future taxable
 income will be available against which deferred tax asset can be
 realised. Any such write-down is reversed to the extent that it becomes
 reasonably certain or virtually certain, as the case may be, that
 sufficient future taxable income will be available.
 
 MAT credit is recognised as an asset only when and to the extent there
 is convincing evidence that the company will pay normal income tax
 during the specified period. In the year in which the Minimum
 Alternative tax (MAT) credit becomes eligible to be recognized as an
 asset in accordance with the recommendations contained in guidance note
 issued by the Institute of Chartered Accountants of India, the said
 asset is created by way of a credit to the profit and loss account and
 shown as MAT Credit Entitlement. The Company reviews the same at each
 balance sheet date and writes down the carrying amount of MAT Credit
 Entitlement to the extent there is no longer convincing evidence to the
 effect that Company will pay normal Income Tax during the specified
 period.
 
 o) Borrowing Costs
 
 Borrowing cost includes interest, amortization of ancillary costs
 incurred in connection with the arrangement of borrowings and exchange
 differences arising from foreign currency borrowings to the extent they
 are regarded as an adjustment to the interest cost.
 
 Borrowing costs directly attributable to the acquisition,construction
 or production of an asset that necessarily takes a substantial period
 of time to get ready for its intended use or sale are capitalized as
 part of the cost of the respective asset.  All other borrowing costs
 are expensed in the period they occur.
 
 p) Provisions
 
 A provision is recognised when an enterprise has a present obligation
 as a result of past event and it is probable that an outflow of
 resources will be required to settle the obligation, in respect of
 which a reliable estimate can be made. Provisions are not discounted to
 its present value and are determined based on best management estimate
 required to settle the obligation at the balance sheet date. These are
 reviewed at each balance sheet date and adjusted to reflect the current
 management estimates. Provision for expenditure relating to voluntary
 retirement is made when the employee accepts the offer of early
 retirement.
 
 q) Segment Reporting Policies Identification of segments:
 
 Primary Segment
 
 Business Segment
 
 The Company''s operating businesses are organized and managed separately
 according to the nature of products, with each segment representing a
 strategic business unit that offers different products and serves
 different markets. The identified segments are Manufacturing & Sale of
 Polyester film and Engineering plastics.
 
 Secondary Segment
 
 Geographical Segment
 
 The analysis of geographical segments is based on the geographical
 location of the customers.
 
 The geographical segments considered for disclosure are as follows:
 
 - Sales within India include sales to customers located within India.
 
 - Sales outside India include sales to customers located outside
 India.
 
 Inter Segment Transfers:
 
 Inter Segment transfers of goods, as marketable products produced by
 separate segments of the Company for captive consumption, are not
 accounted for in the books of account of the Company. For the purpose
 of segment disclosures, however, inter segment transfers have been
 taken at cost.
 
 Allocation of common costs:
 
 Common allocable costs are allocated to each segment in proportion to
 the turnover of the segment, except where a more logical allocation is
 possible.
 
 Unallocated items:
 
 Corporate income and expense are considered as a part of un-allocable
 income & expense, which are not identifiable to any business segment.
 
 The company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the company as a whole.
 
 r) Cash and Cash Equivalents
 
 Cash and cash equivalents in the balance sheet comprise cash at bank
 and in hand and short-term investments with an original maturity of
 three months or less.
 
 s) Contingent liabilities
 
 A contingent liability is a possible obligation that arises from past
 events whose existence will be confirmed by the occurrence or
 non-occurrence of one or more uncertain future events beyond the
 control of the company or a present obligation that is not recognized
 because it is not probable that an outflow of resources will be
 required to settle the obligation. A contingent liability also arises
 in extremely rare cases where there is a liability that cannot be
 recognized because it cannot be measured reliably. The company does not
 recognize a contingent liability but discloses its existence in the
 financial statements.
 
 t) Earnings Per Share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the year attributable to equity shareholders (after deducting
 preference dividends and attributable taxes) by the weighted average
 number of equity shares outstanding during the period. Partly paid
 equity shares are treated as a fraction of an equity share to the
 extent that they were entitled to participate in dividends relative to
 a fully paid equity share during the reporting period. The weighted
 average numbers of equity shares outstanding during the period are
 adjusted for events of bonus issue; bonus element in a rights issue to
 existing shareholders; share split; and reverse share split
 (consolidation of shares).
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the year attributable to equity shareholders and the
 weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares.
 
 u) Measurement of EBITDA
 
 As permitted by the guidance note on revised schedule VI to the
 Companies Act, 1956, the company has elected to present earnings before
 interest, tax, depreciation and amortization (EBITDA) as a separate
 line item on the face of the statement of profit & loss. The company
 measures EBITDA on the basis of profit / (loss) from continuing
 operations. In its measurement, the company does not include
 depreciation and amortization expenses, finance cost and tax expenses.