(i) Accounting Convention
 
 These financial statements have been prepared under the historical cost
 convention, on the accrual basis of accounting and in accordance with
 the Generally Accepted Accounting Principles (''GAAP'') in India and
 comply with the accounting standards prescribed by the Companies
 (Accounting Standards) Rules, 2006 and in accordance with the
 provisions of the Companies Act, 1956, as adopted consistently by the
 Company.
 
 (ii) Use of Estimates
 
 The preparation of financial statements requires the management of the
 Company to make estimates and assumptions that affect the reported
 balances of assets and liabilities and disclosures relating to the
 contingent liabilities as at the date of the financial statements and
 reported amounts of income and expenses during the period. Example of
 such estimates include provisions for doubtful debts, employee
 retirement benefit plans, provision for income taxes, accounting for
 contract costs expected to be incurred to complete construction and the
 useful lives of fixed assets.
 
 (iii) Fixed Assets and Depreciation / Amortization
 
 Fixed assets are stated at cost less accumulated
 depreciation/amortization. Cost includes purchase price and all other
 attributable costs of bringing the assets to working condition for
 intended use.
 
 Depreciation on assets is charged proportionately from the month of
 acquisition/ installation on a straight line basis on rates prescribed
 by Schedule XIV of the Companies Act, 1956 other than for the following
 assets, where higher rates are used based on the useful life of the
 assets as determined by the Company:
 
 Furniture and fixtures, office equipment
 (except data processing equipment)               10%
 
 Buildings                                         5%
 
 Roads                                          3.34%
 
 Vehicles                                         20%
 
 Pallets used for autoclaving
 (included in plant and equipment)                20%
 
 Leasehold land and leasehold improvements are amortized over the term
 of the lease.
 
 Technical know-how is amortized over the term of the agreement.
 Computer software is amortized over a period of 3 years.
 
 Assets acquired under finance lease are recognized at the lower of the
 fair value of the leased assets at inception and the present value of
 minimum lease payments and are depreciated over the lease term or
 useful life, whichever is shorter. Lease payments are apportioned
 between the finance charges and the reduction of the outstanding
 liability. The finance charge is allocated to periods during the lease
 term at a constant periodic rate of interest on the remaining balance
 of the liability.
 
 (iv) Revenue Recognition
 
 Revenue from sale of products is recognized on dispatch of goods to
 customers which coincides with the transfer of risk and rewards
 associated with the ownership of goods. Sales are net of rebates and
 sales taxes, wherever applicable.
 
 Revenue from erection business on fixed price contracts is recognized
 in accordance with the percentage of completion method based on the
 work completed.
 
 (v) Investments
 
 Long term investments are stated at cost less provision for other than
 temporary diminution in the carrying value of each investment.  Current
 investments are carried forward at lower of cost or fair value.
 
 (vi) Inventories
 
 Inventories are valued at cost or net realizable value after providing
 for obsolescence and other losses whichever is lower and includes all
 applicable costs incurred in bringing goods to their present location
 and condition. The basis for determining cost for various categories of
 inventories is as follows:
 
 Stores and spare parts         - Weighted average
 
 Raw materials                  - Weighted average
 
 Materials in transit           - At cost
 
 Work in progress and 
 Finished goods                 - Material cost plus appropriate
                                  share of lab our, manufacturing
                                  and other overheads.
 
 Stock in trade                 - Weighted average
 
 (vii) Research and Development Costs
 
 Research and development costs of revenue nature are charged to the
 Statement of Profit and Loss when incurred. Expenditure of capital
 nature is capitalized and depreciated in accordance with the rates set
 out in paragraph 1 (iii) above.
 
 (viii) Employee Benefits (See also Note 2.27)
 
 a.  Short-term employee benefits
 
 The undiscounted amount of short-term employee benefits expected to be
 paid in exchange of services rendered by employees is recognized during
 the period when the employee renders the services. These benefits
 include compensated absences and performance incentives.
 
 b.  Post-employment benefit plans
 
 The Company has various schemes of retirement benefits namely provident
 fund, superannuation schemes and gratuity, which are administered by
 trustees of independently constituted trusts recognized by the
 Income-tax authorities.
 
 The Company''s contributions towards provident fund are deposited in a
 trust formed by the Company under the Employees Provident Fund and
 Miscellaneous Provisions Act, 1952. Contributions to superannuation
 fund are deposited in a separate trust. These trusts are recognized by
 the Income Tax authorities. The contributions to the trusts are managed
 by the trustees of the respective trusts.
 
 The Company''s superannuation scheme and the employee''s provident fund
 scheme are defined contribution schemes. The Company''s contribution
 paid/ payable under these schemes are recognized as expenses in the
 Statement of Profit and Loss during the period in which the employee
 renders the related service. The Provident Fund scheme additionally
 requires the Company to guarantee payment of interest at rates notified
 by the Central Government from time to time, for which shortfall as at
 the Balance Sheet date, if any, is provided for.
 
 The Company''s gratuity scheme is a defined benefit scheme. For defined
 benefit schemes, the cost of providing benefits is determined using
 projected unit credit method, with actuarial valuation being carried
 out at each balance sheet date. Actuarial gains and losses are
 recognized in full in the profit & loss account for the period in which
 they occur. Past service cost is recognized to the extent the benefits
 are already vested, and otherwise is amortized on a straight-line
 method over the average period until the benefits become vested.
 
 The retirement benefit obligation recognized in the balance sheet
 represents the present value of the defined benefit obligations as
 adjusted for unrecognized past service cost, and as reduced by the fair
 value of scheme assets. Any asset resulting from this calculation is
 limited to past service cost, plus the present value of available
 refunds and reductions in future contributions to the scheme.
 
 Benefits comprising compensated absences constitute other employee
 benefits. The liability for compensated absences is provided on the
 basis of an actuarial valuation done by an independent actuary at the
 year end. Actuarial gains and losses are recognized immediately in the
 Statement of Profit and Loss.
 
 (ix) Borrowing Costs
 
 Borrowing costs that are attributable to the acquisition, construction
 or production of qualifying assets are capitalized as part of the cost
 of such assets. A qualifying asset is one that necessarily takes
 substantial period of time to get ready for intended use. All other
 borrowing costs are charged to revenue.
 
 (x) Foreign Exchange Transactions
 
 Transactions in foreign currencies are recorded at the exchange rate
 prevailing on the date of the transaction. Monetary items denominated
 in foreign currency and outstanding at the balance sheet date are
 translated at the exchange rate ruling on that date. Exchange
 differences arising on foreign currency transactions are recorded as
 income or expense in the period in which they arise.
 
 In respect of forward contracts taken by the Company, the difference
 between the forward rate and the exchange rate at the date of the
 transaction is recognized as expense over the life of the forward
 contract.
 
 The Company enters into derivative contracts in the nature of interest
 rate swaps and forward contracts with an intention to hedge its
 existing assets and liabilities, firm commitments and highly probable
 transactions. Derivative contracts which are closely linked to the
 existing assets and liabilities are accounted as per the policy stated
 for Foreign Exchange Transactions.
 
 All other derivative contracts are marked-to-market and losses are
 recognized in the Statement of Profit and Loss. Gains arising on the
 same are not recognized, until realized, on grounds of prudence.
 
 The Company had opted for accounting the exchange rate differences
 arising on reporting of Long term foreign currency monetary items in
 line with the Companies (Accounting Standard) Amendments Rules, 2009 on
 Accounting Standard ''AS11 - The Effects of Change in Foreign Exchange
 Rates'' (See also Note 2.36).
 
 (xi) Taxation (See also Note 2.28)
 
 Income tax comprises current tax and deferred tax. Deferred tax assets
 and liabilities are recognized for the future tax consequences of
 timing differences, subject to the consideration of prudence. Deferred
 tax assets and liabilities are measured using the tax rates enacted or
 substantively enacted at the balance sheet date.
 
 (xii) Earnings Per Share (See also Note 2.37)
 
 The Company reports basic and diluted earnings per equity share in
 accordance with Accounting Standard ''AS20 - Earning Per Share''.
 Basic earnings per equity share has been computed by dividing net
 profit after tax by the weighted average number of equity shares
 outstanding for the year. Diluted earnings per equity share is computed
 using the weighted average number of equity shares and dilutive
 potential equity shares outstanding during the year except where the
 result would be anti-dilutive.
 
 (xiii) Impairment of Assets
 
 At each balance sheet date, the Company reviews the carrying amount of
 its assets to determine whether there is any indication that those
 assets suffered an impairment loss. If any such indication exists, the
 recoverable amount of the asset is estimated in order to determine the
 extent of impairment loss. Recoverable amount is the higher of an
 assets net selling price and value in use. In assessing value in use
 the estimated future cash flows expected from the continuing use of the
 asset and from its disposal are discounted to their present value using
 a discount rate that reflects the current market assessments of time
 value of money and the risks specific to the asset.
 
 Reversal of impairment loss is recognized as income in the Statement of
 Profit and Loss.
 
 (xiv) Contingencies/ Provisions
 
 A provision is recognized when the Company has a present obligation as
 a result of past event; it is probable that an outflow of resources
 embodying economic benefits 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
 estimate of the expenditure required to settle the obligation at the
 balance sheet date. These are reviewed at each balance sheet date and
 adjusted to reflect the current best estimate. A contingent liability
 is disclosed, unless the possibility of an outflow of resources
 embodying the economic benefit is remote.
 
 (xv) Employee Stock Option Scheme (See also Note 2.45)
 
 Stock options granted to the employees under the stock options schemes
 are accounted as per the accounting treatment prescribed by the
 Employee Stock Option and Employees Stock Purchase Scheme Guidelines,
 1999 issued by Securities and Exchange Board of India. Accordingly, the
 excess of average market value of the shares over the preceding two
 weeks of the date of grant of options over the exercise price of the
 options is recognized as deferred employee compensation and is charged
 to the Statement of Profit and Loss on straight line basis over the
 vesting period of the options.
 
 (xvi) Leases (See also Note 2.35)
 
 Operating Lease
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased asset are classified as
 operating leases. Operating lease charges are recognized as an expense
 in the Statement of Profit and Loss on a straight - line basis over the
 lease term.
 
 Finance Lease
 
 Leases under which the Company assumes substantially all the risks and
 rewards of ownership are classified as finance leases. The lower of
 fair value of asset and present minimum lease rentals is capitalized as
 fixed assets with corresponding amount shown as lease liability.  The
 principal component in the lease rentals is adjusted against the lease
 liability and interest component is charged to Statement of Profit and
 Loss.
 
 (xvii) Export Incentives
 
 Export benefits are accounted for in the year of exports based on
 eligibility and there is no uncertainty in receiving the same.
 
 (xviii)Cash Flow Statement
 
 Cash flows are reported using the indirect method, whereby profit /
 (loss) before extraordinary items and tax is adjusted for the effects
 of transactions of non-cash nature and any deferrals or accruals of
 past or future cash receipts or payments. The cash flows from
 operating, investing and financing activities of the Company are
 segregated based on the available information.