a.  Basis of Preparation
 
 The Company prepares its accounts under the Historical Cost Convention
 modified by revaluation of certain fixed assets. The financial
 statements have been prepared to comply in all material respects with
 the Accounting Standards notified by the Companies Accounting Standards
 Rules, 2006 (as amended) and the relevant provisions of the Companies
 Act, 1956. For recognition of Income and expenses, Mercantile System of
 Accounting is followed.
 
 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 below.
 
 i) Presentation and disclosure of financial statements
 
 During the year ended 31st March 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
 reclassified the previous year figures in accordance with the
 requirements applicable in the current year.
 
 ii) Dividend on Investment in subsidiary companies
 
 Till the year ended 31st March 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 1 April 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.
 
 b.  Use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 c.  Revenue Recognition
 
 Sale of Goods
 
 Revenue from sale of goods including manufactured products is
 recognized upon passage of title to the customers, in accordance with
 the Sale of Goods Act, 1930.
 
 Customs Duty benefits in the form of advance license entitlements are
 recognized on export of goods, and are set off from material costs.
 
 Interest
 
 Revenue is recognized on a time proportion basis taking into account
 the amount outstanding and the rate applicable.
 
 Dividends
 
 Revenue is recognized when the shareholders'' right to receive payment
 is established by the balance sheet date.
 
 d.  Fixed Assets
 
 Fixed Assets are stated at cost (or revalued amounts, as the case may
 be) less accumulated depreciation and impairment losses, if any. Cost
 comprises of Purchase price inclusive of duties (net of Cenvat), taxes,
 
 incidental expenses, erection/commissioning expenses etc up to the date
 the asset is ready for its intended use. In case of revaluation of
 fixed assets, the original cost as written up by the valuer, is
 considered in the accounts and the differential amount is transferred
 to revaluation reserve.
 
 The carrying amounts of assets are reviewed at each balance sheet date
 to determine if there is any indication of impairment based on
 external/internal factors. An impairment loss is recognised wherever
 the carrying amount of an asset exceeds its recoverable amount which
 represents the greater of the net selling price of assets and their
 ''Value in use''. The estimated future cash flows are discounted to
 their present value using pre tax discount rates and risks specific to
 the asset.
 
 e.  Investments
 
 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 stated at lower of cost or fair value on individual
 investment basis. Long Term Investments are considered at cost, unless
 there is other than temporary decline in value thereof, in which case
 adequate provision is made for diminution in the value of investments.
 Investments in foreign companies are carried at exchange rates
 prevailing on the date of their acquisition.
 
 f.  Depreciation and Amortization
 
 i) The classification of plant & machinery into continuous and
 non-continuous process is done as per technical certification and
 depreciation thereon is provided accordingly.
 
 ii) a) Depreciation is provided on straight-line method at the rates
 and in the manner specified in Schedule
 
 XIV of the Companies Act, 1956, except for the assets shown in (b)
 below. Further, in respect of certain assets whose residual economic
 life, as determined by the approved valuer, is less than the residual
 life as per the books, depreciation is provided at the adjusted higher
 rates so that the value thereof is written off over the economic life
 determined by the valuer.
 
 b) Based upon their respective useful economic life, depreciation on
 the following assets is provided at a rate higher than those specified
 in Schedule - XIV of the Companies Act 1956:
 
 c) The Company has estimated the residual value of Plant & Machinery,
 moulds and computers to be 2% of the cost as against 5% specified in
 Section 205 (2)(c) of the Companies Act, 1956.  Accordingly, 98% of the
 value of fixed assets is being depreciated in the accounts.
 
 iii) Depreciation includes amount a mortised on a straight-line basis in
 respect of leasehold properties over the respective lease period.
 
 iv) Depreciation on fixed assets added/disposed off during the year is
 provided on pro-rata basis with reference to the month of
 addition/disposal.
 
 v) In case of impairment, if any, depreciation is provided on the
 revised carrying amount of the assets over its remaining useful life.
 
 g.  Intangible Assets
 
 i) Research costs are expensed as incurred. Development expenditure
 incurred on an individual project is capitalized when its future
 recoverability can reasonably be regarded as assured. Any expenditure
 capitalized is a mortised over the period of expected future sales from
 the related project, not exceeding ten years.
 
 The carrying value of development costs is reviewed for impairment
 annually when the asset is not yet in use, and otherwise when events or
 changes in circumstances indicate that the carrying value may not be
 recoverable.
 
 ii) Acquired computer software and licenses are capitalized on the
 basis of costs incurred to bring the specific intangibles to its
 intended use. These cost are a mortised on a straight-line basis over
 their estimated useful life of five years.
 
 iii) Acquired Goodwill is a mortised on a straight-line basis over a
 period of five years. Goodwill is also tested for impairment every
 year, if there are any indicators for impairment.
 
 h.  Leases:
 
 i) Finance lease:
 
 a ) Assets given under a finance lease are recognized as receivables at
 an amount equal to the net investment in the lease. Lease rentals are
 apportioned between principal and interest as per the IRR method. The
 principal amount received reduces the net investment in the lease and
 interest is recognized as revenue. Initial direct costs such as legal
 charges, brokerage etc are recognized immediately in the Profit & Loss
 Account.
 
 b) Assets acquired under finance leases, which effectively transfer to
 the Company substantially all the risks and benefits incidental to
 ownership of the leased items, are capitalized at the lower of the fair
 value and present value of the minimum lease payments at the inception
 of the lease term and disclosed as leased assets. Lease payments are
 apportioned between the finance charges and reduction of the lease
 liability so as to achieve a constant rate of interest on the remaining
 balance of the liability. Finance charges are charged directly against
 income.
 
 c) A leased asset is depreciated on a straight line basis over the
 useful life of the asset or the useful life envisaged in Schedule XIV
 to the Companies Act, 1956, whichever is lower. However, if there is no
 reasonable certainty that the company will obtain the ownership by the
 end of the lease term, the capitalized asset is depreciated on a
 straight-line basis over the shorter of the estimated useful life of
 the asset, the lease term or the useful life envisaged in Schedule XIV
 to the Companies Act, 1956.
 
 ii) Operating leases:
 
 a) Assets acquired under Operating Leases represent assets where the
 less or effectively retains substantially all the risks and benefits of
 their ownership. Operating lease payments are recognized as an expense
 in the Profit and Loss Account on a straight-line basis over the lease
 term.
 
 b) Assets given under operating leases are included in fixed assets.
 Lease income is recognized in the Profit and Loss Account on a
 straight-line basis over the lease term. Costs, including depreciation
 are recognized as an expense in the Profit and Loss Account.
 
 i.  Foreign Currency Transactions
 
 i) 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.
 
 ii) 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.
 
 iii) Exchange Differences
 
 Exchange differences arising on the settlement / conversion of monetary
 items, are recognized as income or expenses in the year in which they
 arise.
 
 iv) Forward Exchange Contracts
 
 The premium or discount arising at the inception of forward exchange
 contracts is amortized as expense or income over the life of the
 contract. Exchange differences on such contracts are recognized 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 recognized as income or as expense for the
 year.
 
 j. Inventories
 
 i) Raw materials, components, stores and spares are valued at 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 is determined on a weighted
 average basis.
 
 ii) Work-in-progress and finished goods are valued at 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 a weighted average basis.  Net realizable value is the
 estimated selling price in the ordinary course of business, less
 estimated costs of completion to make the sale.
 
 k. Borrowing Costs
 
 Borrowing costs attributable to the acquisition and/or construction of
 qualifying assets are capitalized as a part of the cost of such assets,
 up to the date when such assets are ready for their intended use. Other
 borrowing costs are charged to Profit and Loss Account.
 
 l. Expenditure on new projects and substantial expansion
 
 Expenditure directly relating to construction activity are capitalized.
 Expenditure which is not directly attributable to the construction
 activity incurred during the construction period are capitalized as
 part of the indirect construction cost. Other indirect expenditure
 (including borrowing costs) incurred during the construction period
 which are not related to the construction activity nor are incidental
 thereto, are charged to the Profit and Loss Account. Income earned
 during construction period, if any, is deducted from the total of the
 indirect expenditure.
 
 All direct capital expenditure on expansion are capitalized. As regards
 indirect expenditure on expansion, only that portion is capitalized
 which represents the marginal increase in such expenditure involved as
 a result of capital expansion. Both direct and indirect expenditure are
 capitalized only if they increase the value of the asset beyond its
 original standard of performance.
 
 m. Excise Duty
 
 Excise Duty is accounted for at the point of manufacture of goods and
 accordingly, is considered for valuation of finished goods stock lying
 in the factories as on the balance sheet date.
 
 n. Retirement and other employee benefits
 
 i) Retirement Benefit in the form of Provident Fund is a defined
 contribution scheme and the contributions are charged to the Profit and
 Loss Account of the year when the contribution to the respective funds
 are due. There are no obligations other than the contribution payable
 to the respective trusts.
 
 ii) Gratuity and Post Retirement Medical Benefit liability are defined
 benefit obligations and are provided for on the basis of an actuarial
 valuation made at the end of each financial year.
 
 iii) Long term compensated absences are provided for based on an
 actuarial valuation made at the end of each financial year.
 
 iv) Payments made under the Voluntary Retirement Scheme are charged to
 the Profit and Loss account.
 
 v) Pension liability is split into a defined benefit portion and a
 defined contribution portion as indicated in note no. 31. The
 contributions towards defined contribution are charged to the Profit
 and Loss account of the year when the contribution becomes due. The
 Defined benefit portion is provided for on the basis of an actuarial
 valuation made at the end of each financial year.
 
 vi) Actuarial gains/losses are immediately taken to profit and loss
 account and are not deferred.
 
 vii) The current and non current bifurcation is done as per Actuarial
 report.
 
 o. Taxation
 
 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 Indian Income Tax Act. 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 recognized 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 realized.  In situations
 where the company has unabsorbed depreciation or carry forward tax
 losses, all deferred tax assets are recognized only if there is virtual
 certainty supported by convincing evidence that they can be realized
 against future taxable profits.
 
 The carrying amount of deferred tax assets are reviewed at each balance
 sheet date. The company writes down the carrying amount of the deferred
 tax assets 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
 realized. Any such write-down is reversed to the extent that it becomes
 reasonable certain or virtually certain, as the case may be, that
 sufficient future taxable income will be available.
 
 p. Earning per share
 
 Earnings per share is calculated by dividing the net profit or loss for
 the year attributable to equity shareholders by the weighted average
 number of equity shares outstanding during the period.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period 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.
 
 q. Provision
 
 A provision is recognized 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 made in terms of
 Accounting Standard-29, are not discounted to its present value and are
 determined based on the 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 product related warranty/guarantee costs is based on the
 claims received up to the year end as well as the management estimates
 of further liability to be incurred in this regard during the warranty
 period, computed on the basis of past trend on such claims.
 
 r. Segment reporting
 
 Based on the synergies, risks and returns associated with business
 operations and in terms of Accounting Standard - 17, the Company is
 predominantly engaged in a single reportable segment of Storage
 Batteries and allied products during the year. The analysis of
 geographical segments is based on the areas in which customers of the
 Company are located.
 
 s. Contingent Liabilities
 
 No provision is made for liabilities, which are contingent in nature,
 but if material, these are disclosed by way of notes.
 
 t. Cash and cash equivalents
 
 Cash and cash equivalents for the purpose of cash flow statement
 comprise cash at bank and in hand and short-term investments with an
 original maturity of three months or less.