(a) Basis of Accounting
 
 The financial statements are prepared under historical cost convention
 on a going concern basis in accordance with the applicable accounting
 standards issued by the Institute of Chartered Accountants of India and
 relevant provisions of the CompaniesAct, 1956 
 
 (b) Revenue Recognition
 
 Revenue is recognised when the significant risk and rewards of
 ownership of the goods have been passed to the buyers. Sales include
 amount recovered towards Excise Duty and Sales Tax_
 
 (c) Fixed Assets
 
 Fixed Assets are stated at cost. Cost Comprises the purchase price and
 any attributable cost of bringing the asset to its working condition
 for its intended use and also comprises of borrowing costs attributable
 to acquisition and construction of assets up to the date when such
 asset is ready forits intended use.
 
 Pre-operative expenses for Solar Photovoltaic Cell Unit, including
 interest on borrowings upto the date of commercial operations, are
 treated as part of the project cost and capitalised.
 
 Machinery spares which are specific to particular item of fixed assets
 and whose use is irregular are capitalised as part of the cost of
 machinery.
 
 (d) Depreciation
 
 Depreciation on fixed assets is provided on the Straight Line Method
 as perthe rates and in the manner prescribed by Schedule XIV of the
 CompaniesAct, 1956.
 
 (e) Inventories Inventories are valued as under:
 
 (i) Raw Materials - Is valued at cost or net realisable value whichever
 is lower. Cost is arrived on Fl FO basis.
 
 (ii) Finished Goods - Valued at Material cost plus estimated conversion
 cost.
 
 (iii) Work-in-Progress - Valued at Material cost plus estimated
 conversion cost._
 
 (f) Employee Benefits
 
 Gratuity
 
 In accordance with the Payment of Gratuity Act, 1972, Euro Multivision
 Ltd provides forgratutity, a defined benefit retirement plan (the
 Gratuity Plan) covering eligible employees of the Company. The Gratuity
 Plan provides a lump sum payment to vested employees at retirement,
 death or termination of employment, of an amount based on the
 respective employees'' salary and the tenure of employment with the
 Company.
 
 The Company has Group Gratuity Policy managed by LICand liability
 foremployee benefits has been determined by an actuary, appointed for
 the purpose, in conformity with the principles set out in the
 Accounting Standard 15 (Revised) Liabilities with regard to the
 Gratuity Plan are determined by actuarial valuation at Balance Sheet
 date using the projected unit credit method. The Company contributes
 all ascertained liabilities to the Euro Multivision Ltd Employee''s
 Group Gratuity Fund Trust. Actuarial gains and losses arising from
 experience adjustments and changes in actuarial assumptions are
 recognized in the Profit and Loss Account in the period in which they
 arise
 
 Provident Fund
 
 Eligible Employees of Euro Multivision Ltd at plant receive benefits
 from provident fund, which is a defined contribution plan. Both the
 employee and the Company make monthly contributions to the provident
 fund equal to a specified percentage of the covered employee''s salary
 
 Employees Group Insurance Scheme
 
 Euro Multivision Ltd contributes towards Employee''s Group Insurance
 Scheme, which is a defined contribution plan
 for its employees at plant.
 
 Leave Encashments
 
 The Company provides for the encashment of leave to its employees at
 plant subject to certain rules and is recognized as long term
 compensated absence. The employees are entitled to accumulate leave
 subject to certain limits, for future encashment. The liability is
 provided based on the number of days of unutilised leave at each
 balance sheet date on the basis of an independent actuarial valuation.
 The Company provides for the encashment of leave to its employees at
 head office and sales departments on an yearly basis and hence
 recognized as short term compensated absence.
 
 (g) Investments
 
 Long term investments are stated at cost of acquisition. Diminution in
 value of such long term investments is not provided for except where
 determined to be of permanent nature.
 
 (h) Taxes on Income
 
 Tax on income for the current period is determined on the basis of
 estimated taxable income and tax credits computed in accordance with
 the provisions of the Income Tax Act, 1961 and based on the expected
 outcome of assessments/appeals.
 
 Deferred Tax resulting from ''timing difference'' between bookand taxable
 profit for the yearis accounted forusing the current tax rates. The
 deferred tax asset is recognised and carried forward only to the extent
 that there is a reasonable certainty that the assets will be adjusted
 in future. However, in case of deferred tax assets representing
 unabsorbed depredation or carry forward losses are recognised, if and
 only if there is a virtual certainty that there would be adequate
 future taxable income against which such deferred tax assets can be
 realised.
 
 Minimum Alternate Tax (MAT) eligible for set-off in subsequent years
 (as per tax laws), is recognised as an asset by way of credit to the
 Profit and Loss Account only if there is convincing evidence of its
 realisation. At each Balance Sheet date, the carrying amount of MAT
 Credit Entitlement receivable is reviewed to reassure realisation.
 
 (i) Borrowing Costs
 
 Borrowing Cost attributable to acquisition, construction or production
 of qualifying assets are capitalized as part of the cost of that asset,
 till the asset is ready for use. Other borrowing costs are recognized
 as an expense in the period in which these are incurred.
 
 (j) Foreign Currency Transactions
 
 (a) The reporting currency of the Company is Indian Rupee.
 
 (b) Foreign currency transactions are recorded on initial recognition
 in the reporting currency, using the exchange rate at the date of the
 transaction. At each balance sheet date, foreign currency monetary
 items are reported using the closing rate. Non-monetary items which are
 carried at historical cost denominated in a foreign currency are
 reported using the exchange rate at the date of the transaction.
 
 (c) Exchange differences that arise on settlement of monetary items or
 on reporting at each balance sheet date of the Company''s monetary items
 at the closing rate are recognised as income or expense in the period
 in which they arise.
 
 (d) The premium or the discount on forward exchange contracts not
 relating to firm commitments or highly probable forecast transactions
 and not intended for trading or speculation purpose is amortised as
 expense or income overthe life of the contract.
 
 (e) Gain or loss on forward exchange contracts for non speculation
 relating to firm commitments is computed by multiplying theforeign
 currency amountoftheforwardexchangecontractbythe difference between
 theclosing rate available at the reporting date and the contracted
 forward rate. Such gain or loss is recognised in the profit and loss
 account.
 
 (f) Gain or loss on forward exchange contracts for speculation relating
 to firm commitments is computed by multiplying the foreign currency
 amount of the forward exchange contract by the difference between the
 forward rate available at the reporting date for the remaining maturity
 of the contract and the contracted forward rate. Such gain or loss is
 recognised in the profit and loss account.
 
 (g) Cash flows arising on account of roll-over / cancellation of
 forward contracts are recognised as income / expense of the period in
 line with the movement in the underlying exposures.
 
 (h) Pursuant to the notification of the Companies (Accounting
 Standards) Amendment Rule 2009 issued by Ministry of Corporate Affairs
 on March 31 2009 amending Accounting Standard - 11 (AS -11) The Effects
 of Changes in Foreign Exchange Rates (revised 2003)'', exchange
 differences relating to long term monetary items are dealt with in the
 following manner:
 
 (i) Exchange differences relating to long term monetary items, arising
 during the year, in so far as they relate to the acquisition of a
 depreciable capital asset are added to / deducted from the cost of the
 asset and depreciated overthe balance life of the asset.
 
 (ii) In other cases, such differences are accumulated in the Foreign
 Currency Monetary Translation Difference Account and amortised to the
 profit and loss account over the balance life of the long term monetary
 item but not beyond March 31,2011.
 
 (iii) All other exchange differences are recognised as income or
 expense in the profit and loss account.
 
 (k) Impairment of Asset
 
 The carrying amount of assets are reviewed at each Balance Sheet date
 if there is any indication of impairment based on internal/external
 factors. An asset is impaired when the carrying amount of the asset
 exceeds the recoverable amount. An impairment loss is charged to the
 Profit and Loss Account in the year in which an asset is identified as
 impaired. An impairment loss recognised in prior accounting periods is
 reversed if there has been change in the estimate of the recoverable
 amount.
 
 (l) Leases
 
 Operating Lease
 
 Leases other than finance lease, are operating leases, and the leased
 assets are not recognised on the Company''s balance sheet. Payments
 under operating leases are recognised in Profit and Loss Account on a
 straight-line basis overthe term of the lease.
 
 (m) Provisions and Contingent Liabilities
 
 Provisions, Contingent Liabilities and Contingent Assets: Provisions
 involving a substantial degree of estimation in measurement are
 recognised when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent Liabilities are not recognised but are disclosed in the
 Financial Statements. ContingentAssets are neitherrecognised
 nordisclosed in the Financial Statements.