1.  Estimated amount of Contracts remaining to be executed on Capital
 Account and not provided for:
 
 i) Estimated amount of contracts remaining to be executed on capital
 account and not provided for:Rs 4540.71 Crores (Previous Year: Rs 4848.04
 Crores).
 
 ii) Company''s share in estimated amount of contracts remaining to be
 executed on capital account and not provided for based on
 audited/unaudited statement of accounts of Joint Ventures.  Rs 1418.04
 Crores (Previous Year:Rs 1569.98 Crores).
 
 2.  Contingent Liabilities:-
 
 I.  Claims against the Company not acknowledged as debts: X 4930.40
 Crores (Previous Year: X 4757.88 Crores), which mainly include:-
 
 (a) Legal cases for claim ofRs 2731.63 Crores (Previous Year:Rs 2325.78
 Crores) by vendors on account of Liquidated damages/Price Reduction
 Schedule and Natural Gas price differential etc. and by customers for
 Natural gas transmission charges etc.
 
 (b) Income tax assessments up to the Assessment Year 2008-09 have been
 completed and a demand ofRs 1017.25 Crores relating to the Assessment
 Years 1996-97 and 2000-01 to 2008-09 (Previous Year: Rs 1262.06 Crores
 related to Assessment years 1996-97 to 2007-08) has been raised by
 making disallowances/additions .  The company has already made the
 payment ofRs 1323.66 Crores (Previous Year: Rs 1260.30 Crores) which is
 under dispute. Based upon the decision of the appellate authorities and
 the interpretation of the IncomeTax Act, the company has been legally
 advised that the demand is likely to be deleted or it may be
 substantially reduced.The company has filed appeals against the
 Assessment orders /appeal orders for the Assessment Years 2000-01 to
 2004-05, 2006-07 and 2007-08 with IncomeTax Appellate Tribunal
 (ITAT)and for Assessment Year 1996-97,2005- 06 and 2008-09 with
 Commissioner of Income Tax (Appeal). Based upon company''s appeal with
 ITAT, income tax assessments for the AY 1997-98 to 1999-2000 have been
 remanded back by ITAT to the assessing officer for reassessment.
 
 (c) Rs 760.15 Crores (Previous Year:Rs 596.50 Crores) relating to
 disputed tax demand towards Excise duty, Sales tax, Entry tax, and
 Service Tax etc.
 
 (d) Claims of ONGCL forRs 289.57 Crores (Previous Year:Rs 335.25 Crores)
 on account of interest for delayed payment and MGO, etc.  Out of these,
 MGO claims ofRs 25.34 Crores (Previous Year: Rs 47.81 Crores) are
 recoverable on back-to-back basis.
 
 II.  Bank Guarantees Letters of Credit:Rs 997.37 Crores (Previous Year:Rs
 1665.58 Crores) including bank guarantees issued on behalf of
 subsidiariesRs 45.88 Crores (Previous Year: Rs 45.88 Crores)
 
 III.  The Company has issued corporate guarantees forRs 254.34 Crores
 (Previous Year:Rs 254.34 Crores) on behalf of Brahamputra Cracker &
 Polymer Limited (BCPL) and forRs 118 Crores (Previous Year: NIL) on
 behalf of GAIL Gas Limited, subsidiaries of the company, in favour of
 Oil Industry Development Board (OIDB) for raising loan from OIDB.
 
 IV.  Share in Contingent Liabilities of Joint Ventures based on their
 audited/unaudited statement of accounts:Rs 437.20 Crores (Previous
 Year:Rs 229.89 Crores).
 
 3.  Sales Tax demand ofRs 3449.18 Crores (Previous Year:Rs 3449.18
 Crores) and interest thereonRs 1513.04 Crores. (Previous Year:Rs 1513.04
 Crores) for Hazira unit in Gujarat State: Sales Tax Authorities,
 Ahmedabad have treated the transfer of Natural Gas by the company from
 the state of Gujarat to other states during the period April, 1 994 to
 March, 2001 as inter-state sales under Section 3(a) of the Central
 Sales Tax Act. The company has been paying sales tax under section 12
 of the Gujarat Sales Tax Act against Form 17 since inception (1987) and
 accordingly the sales tax assessments have been completed.  Based on
 the interpretation of the provisions of the Sales Tax Act and legal
 advice from the experts, the company had filed writ petition and
 special leave petition in the Supreme Court of India. In February, 2005
 the case was transferred by Hon''ble Supreme Court to Gujarat Sales Tax
 Tribunal for decision.TheTribunal has given its judgment on 16.05.2005
 accepting the contention of the company for interstate transfer of
 Natural Gas as branch transfer and not the interstate sale and set
 aside the demand under section 41-B of the Gujarat Sales Tax Act.The
 Hon''bleTribunal has given further instruction to the Assessing
 Authority to re-assess and decide tax liability in accordance with the
 law considering interstate transfer of natural gas as branch transfer.
 The Sales Tax Authorities had filed rectification application under
 section 72 of the Gujarat Sales Tax Act, 1969 in Gujarat Sales Tax
 Tribunal against its judgment dated 16.05.2005.TheTribunal had
 dismissed the rectification application of the sales tax authorities
 vide its order dated 06.07.2006.The sales tax authorities have now
 filed petition in Hon''ble high Court Ahmedabad against the order of the
 tribunal and no hearing has yet taken place. In opinion of the
 management there is a remote possibility of crystallizing this
 liability.
 
 4.  (a) Freehold land acquired for city gate station at Lucknow and
 
 Kanpurjhansi Maintenance Base, Sectionalising Valves in Jamnagar -Loni
 Pipeline and Mumbai and receiving terminal at Pune valuing Rs 4.94
 Crores (Previous Year: Rs 6.17 Crores) are valued/capitalized on
 provisional basis.
 
 (b) Title deeds for freehold land valuing Rs 6.38 Crores (Previous
 Year:Rs 7.61 Crores) and leasehold land valuingRs 10.24 Crores (Previous
 Year: Rs 22.53 Crores) are pending execution.
 
 (c) Title Deeds in respect often residential flats at Asiad Village,
 New Delhi, valuingRs 1.1 7 Crores (Previous Year:Rs 1.17 Crores) are
 still in the name of ONGCL. Concerned authorities are being pursued for
 getting the same transferred in the name of the Company.
 
 (d) Net BlockforBuildingincludesan amount ofRs 1.21 Crores (Previous
 year: Rs 1.25 Crores) earmarked for disposal but in use.
 
 5.  (a) The balance retention from PMTJV consortium amounting to Rs
 A''iJS Crores (Previous Year:Rs 59.93 Crores) includes interest amounting
 toRs 2.64 Crores (Previous Year:Rs 2.55 Crores) on Short term deposits
 for the year.This interest income does not belong to the company hence
 not accounted as income.
 
 (b) Liability on account of Gas Pool Money amounting to Rs 722.60 Crores
 (Previous Year:Rs 2571.66 Crores) includes interest amounting to Rs 29.10
 Crores (Previous Year: Rs 225.00 Crores) on short term deposits. This
 interest does not belong to the company hence not accounted as income.
 
 (c) Petroleum and Natural Gas Regulatory Board (PNGRB) has notified
 charges for pipeline overrun and imbalances created on account of
 positive/negative off-takes over the tolerance limit of allocated
 capacity to be charged from shippers. As the guidelines regarding
 modalities of maintaining and operation of escrow account are effective
 from 1.4.2011, the sum ofRs 23.95 Crores (Previous Year:Rs 12.59 Crores)
 recovered up to 31.03.2011 on this account has been recognized as
 liability in the financial statements.
 
 6.  Advances recoverable in Cash or in kind or value to be received
 includes an amount ofRs 3.02 Crores (Previous Year:Rs 3.02 Crores)
 recoverable on account of Disinvestment by Government of India of its
 equity in the company by way of GDR/offer for sale.
 
 7.  A net amount ofRs 3.30 Crores (Previous Year:Rs 0.86 Crores) has been
 debited to Profit & Loss account due to exchange rate variation.
 
 8.  The required disclosure under the Revised Accounting Standard 15 is
 given as below:
 
 (i) Provident Fund
 
 Company has paid contribution ofRs 32.90 crores (Previous Year: Rs 28.69
 Crores) to Provident Fund Trust at predetermined fixed percentage of
 eligible employee''s salary and charged to Profit and Loss Account.
 Further, the obligation of the company is to make good shortfall, if
 any, in the fund assets based on the statutory rate of interest in the
 future period.There being change in Accounting Policy during the year,
 the company has made a provision ofRs 13.13 Crores as per actuarial
 valuation to meet any shortfall in the future period, to be compensated
 by the company to the Provident Fund Trust.
 
 (ii) Other Benefit Plans
 
 A) Gratuity:
 
 15 days salary for every completed year of service. Vesting period is 5
 years and payment is restricted toRs 10 Lakhs.
 
 B) Post Retirement Medical Benefit (PRMS)
 
 Upon payment of one time prescribed contribution by the superannuated
 employees/those who resigned from service can avail the facility
 subject to the completion of minimum of 10 years of service and 50
 years of age.
 
 C) Earned Leave Benefit (EL)
 
 Accrual 30 days per year. Encashment while in service 75% of Earned
 Leave balance subject to maximum of 90 days at a time, twice per
 calendar year. Encashment on retirement or superannuation maximum 300
 days.
 
 D) Terminal Benefits
 
 At the time of superannuation, employees are entitled to settle at a
 place of their choice and they are eligible for Transfer Traveling
 Allowance. Employees are gifted a gold coin weighing 25 grams.
 
 E) Half Pay Leave (HPL)
 
 Accrual 20 days per year. Encashment while in service NIL. Full
 encashment on retirement.
 
 F) Long Service Award (LSA)
 
 Employees are eligible for gold coin weighing 5 gms on completion of 15
 years, 10 gms each on completion of 20 years and 25 years, 20 gms each
 on completion of 30 years and 35 years of service.
 
 9.  MOP&NG had issued scheme of sharing of under recoveries on
 sensitive petroleum products. During the year, the Company has given
 discounts amounting to Rs 2111.24 Crores (Previous Year: Rs 1326.73
 Crores). Corresponding adjustment on account of CST amounting toRs
 6.98Crores (Previous Year:Rs 9.95 Crores) has been made.
 
 10.  (a) The Company is raising provisional invoices for sale of R-LNG
 as the supplier M/s Petronet LNG ( PLL) is also raising provisional
 invoices on the Company since customs duty on import of LNG by PLL has
 been assessed on provisional basis.
 
 (b) With effect from April 1, 2002, Liquefied Petroleum Gas prices has
 been deregulated and is now based on the import parity prices fixed by
 the Oil Companies. However, the pricing mechanism is provisional and is
 pending finalization. Additional asset/liability or impact on profits,
 if any, arising due to such change, will be recognized on finalization
 of pricing mechanism.
 
 (c) Natural Gas Pipeline Tariff is subject to various Regulations
 issued by PNGRB from time to time. Impact on profits, if any, is being
 recognized as and when the pipeline tariff is revised in accordance
 with these Regulations.
 
 (d) PNGRB has issued PNGRB (Determination of Petroleum & Petroleum
 Products Pipelines transportation Tariff) Regulations 2010 effective
 from 20.12.2010 where LPG pipeline tariff is benchmarked against
 railway freight. In one of the pipelines, where the proposed tariff
 based on railway freight has been filed with PNGRB is lower than the
 present tariff, the company has made a provision ofRs 6.33 Crores by
 reversing Income on account of LPG transmission charges.
 
 (e) Value of Annual Take or Pay Quantity (ATOPQ) of Gas is accounted
 for on receipt basis and shown as liability till make up Gas is
 delivered to customer, during the recovery period, in terms of the Gas
 Sales Agreement with the customers.
 
 11.  In compliance of Accounting Standard 17 (AS-17) on Segment
 Reportingas notified under Companies Accounting Standard Rules, 2006,
 the company has adopted following Business segments as its reportable
 segments:
 
 (i) Transmission services
 
 a) Natural Gas
 
 b) LPG
 
 (ii) Natural Gas Trading
 
 (iii) Petrochemicals
 
 (iv) LPG and other Liquid Hydrocarbons
 
 (v) Other Segments (include GAILTEL, E&P and City Gas segments)
 
 Note: AsGAILTel segment did not satisfy the relevant 10% thresholds as
 per AS-17 during the current year as well as during previous year, it
 is not considered as a separate reportable segment in these financial
 statements and forms part of''Other Segments.
 
 There are no geographical segments.
 
 The disclosures of segment wise information is given as per Annexure-A.
 
 12.  In compliance of Accounting Standard 18 on Related party
 Disclosuresas notified under Companies Accounting Standard Rules,2006,
 the names of related parties, nature of relationship and detail of
 transactions entered therewith are given in Annexure - B.
 
 13.  (a) In compliance of Accounting Standard 22 on Accounting for
 taxes on Incomeas notified under Companies Accounting Standard
 Rules,2006, the Company has provided accumulated net deferred tax
 liability in respect of timing difference as on 31st March, 2011
 amounting toRs 1633.24Crores (Previous Year: Rs 1389.56 Crores). Net
 Deferred tax expense for the year of Rs 243.68 Crores (Previous Year: Rs
 63.63 Crores) has been charged to Profit & Loss Account.The item-wise
 details of deferred tax liability are as under:
 
 (b) Income Tax Provisions for the current year includesRs 4.18 Crores
 related to Assessment Year 2008-09 and 2009-10 as per orders passed
 under Income Tax Act, 1961.
 
 14.  In Compliance of Accounting Standard 27 on Financial Reporting of
 interests in Joint Venturesas notified under Companies Accounting
 Standard Rules, 2006, brief description of Joint Ventures of the
 Company are:
 
 (a) Jointly Controlled Entities
 
 (i) Mahanagar Gas Limited: A Joint Venture with British Gas Pic and
 Government of Maharashtra to supply gas to domestic, commercial, small
 industrial consumers and CNG  for  transport sector in Mumbai.The company
 has equity participation of 49.75% of the paid up capital and has
 investedRs 44.45 Crores for acquiring 4,44,50,000 equity shares ofRs
 101- each in Joint Venture Company.
 
 (ii) Indraprastha Gas Limited: A Joint Venture with BPCLand Government
 of National Capital Territory (NCT) of Delhi to supply gas to domestic,
 commercial units and CNG  for  transport sector in Delhi.The company has
 equity participation of 22.50% of the paid up capital and has invested
 Rs. 31.50 Crores for acquiring 3,15,00,000 equity shares ofRs 10/-each
 in Joint Venture Company.
 
 (iii) Petronet LNG Limited: A Joint Venture with BPCL, lOCLand ONGCL for
 setting up LNG imports facilities.The company has equity participation
 of 12.50% of the paid up capital and has invested Rs 98.75 Crores for
 acquiring 9,37,50,000 equity shares ofRs 10/-each in Joint Venture
 Company.
 
 (iv) Bhagyanagar Gas Limited: A Joint Venture with HPCL for
 distribution and marketing of CNG, Auto LPG, Natural Gas and other
 gaseous fuels in Andhra Pradesh.The company has equity participation of
 22.50% of the paid up capital and has invested Rs 0.01 Crores for
 acquiring 1 2,500 equity shares of X 10/-each in Joint Venture Company.
 The Company has also paid X 22.49 Crores (Previous Year: X 22.49
 Crores) as advance pending allotment of equity shares in Joint Venture
 Company.
 
 (v) Tripura Natural Gas Company Limited: AJoint Venture with Assam Gas
 Company Limited and Tripura Industrial Development Corporation for
 transportation and distribution of natural gas through pipelines in
 Tripura.The company has equity participation of 29%of the paid up capital
 and has invested X 0.55 Crores for acquiring 55,000 equity shares of X
 100/-each in Joint Venture Company. The Company has also paid X 0.28
 Crores (Previous Year: X 0.28 Crores) as advance pending allotment of
 equity shares in Joint Venture Company.
 
 (vi) Central UP Gas Limited: A Joint Venture with BPCLtosupply gas to
 domestic, commercial and small industrial consumers and CNG for
 transport sector in Kanpur, Uttar Pradesh.The company has equity
 participation of 25% (Previous Year:22.5%)of the paid up capital and has
 investedRs 15 Crores for acquiring 1,50,00,000 equity shares ofRs 10/-
 each in Joint Venture Company.
 
 (vii) Green Gas Limited: A Joint Venture with IOCL to supply gas to
 domestic, commercial and small industrial consumers and CNG for
 transport sector in Agra & Lucknow, Uttar Pradesh.The company has
 equity participation of 22.50%of the paid up capital and has invested Rs
 0.01 Crores for acquiring 12,500 equity shares ofRs 10/- each in Joint
 Venture Company. The Company has also paidRs 23.03 Crores (Previous
 Year:Rs 23.03 Crores) as advance pending allotment of equity shares in
 Joint Venture Company.
 
 (viii) Maharashtra Natural Gas Limited: A Joint Venture with BPCL to
 supply gas to domestic, commercial and small industrial consumers and
 CNG  for  transport sector in Pune, Maharashtra.  The company has equity
 participation of 22.50% of the paid up capital and has invested Rs 22.50
 Crores for acquiring 2,25,00,000 equity shares ofRs 10/-each in Joint
 Venture Company.
 
 (ix) Ratnagiri Gas and Power Private Limited: A Joint Venture with
 GAIL, NTPC and other Financial Institutions for the revival of the
 Dabhol Project. The company has equity participation of 32.88% of the
 paid up capital and has investedRs 692.90 Crores for acquiring
 69,29,00,000 equity shares ofRs 10/- each in Joint Venture Company.
 
 (x) Avantika Gas Ltd. A Joint Venture with GAIL and HPCL to supply gas to
 domestic, commercial and small industrial consumers and CNG for
 transport sector in MP.The company has equity participation of 22.50%
 of the paid up capital and has invested Rs.0.01 Crores for acquiring
 12,500 equity shares of Rs. 10/-each in Joint Venture Company. The
 Company has also paid Rs. 22.49 Crores (Previous Year: Rs. 22.49
 Crores) as advance pending allotment of equity shares in Joint Venture
 Company.
 
 (xi) ONGC Petro additions Ltd (OPAL). A Joint Venture with Oil and
 Natural Gas Corporation Ltd, GAIL (India) Ltd and Gujarat state
 Petroleum Corporation Ltd. for setting up Petrochemical Project at
 Dahej in Gujarat.The company has equity participation of 17% (Previous
 Year:19%) of the paid up capital.  The Company has paid Rs. 299.41
 Crores (Previous Year: Rs.  113.83 Crores) as advance pending allotment
 of equity shares in Joint Venture Company. A sum of Rs.36.46 crores
 also remain unpaid as on 31.3.2011 against call raised by the Joint
 Venture Company.
 
 (xii) GAIL China Gas Global Energy Holdings Ltd. A Joint Venture with
 China Gas Holdings Ltd. to pursue gas sector opportunities mainly in
 China.The company has equity participation of 50% of the paid up
 capital.
 
 The Company''s share in the assets and liabilities and in the Income and
 expenditure for the year in respect of above Joint ventures, based on
 audited/unaudited statements of accounts as furnished by them, is as
 under: (Final adjustments are effected during the year in which audited
 accounts are received).
 
 (b) Jointly Controlled Assets
 
 (i) The Company has participated in joint bidding under the Government
 of India New Exploration Licensing Policy (NELP) and overseas
 exploration bidding and has 25 Blocks (PY 24 Blocks) as on 31.03.2011
 for which the Company has entered into Production Sharing Contract with
 respective host Governments along with other partners for Exploration &
 Production of Oil and Gas. The Company is a non-operator, except in
 Block RJ-ONN-2004/1 where it is a joint operator and CY-ONN-2005/1
 where it is an operator, and shares in Expenses, ncome, Assets and
 Liabilities based upon its percentage in production sharing contract.
 
 The participating interest in the twenty five NELP Blocks in India as
 on 31st March, 2011 is as under:
 
 *ln addition, the company has 8.5% participating interest in offshore
 Midstream pipeline project in Myanmar for the purpose of transportation
 of gas from the delivery point in offshore, Myanmar to landfall point
 in Myanmar.
 
 (iv) The Company''s share in the Assets, Liabilities, Income and
 Expenditure for the year in respect of joint operations project blocks
 has been incorporated in the Company''s financial statements based upon
 un-audited statement of accounts submitted by the operators and are
 given below : (Final adjustments are effected during the year in which
 audited accounts are received)
 
 The above includesRs Nil,Rs 17.39 Gores,Rs 0.24 crores,Rs 6.15 Crores andRs
 47.65 Crores, towards total value of Income, Expenses, Fixed
 Assets(Gross Block), Other Assets and Current Liabilities respectively
 pertaining to 11 E&P Blocks relinquished till 31st March 2011
 (including 7 Blocks relinquished in the earlier years).The company is
 non operator in these E&P Blocks.
 
 (vi) Share of Minimum work program committed under various production
 sharing contracts in respect of E&P joint ventures isRs 837.46 Crores
 (Previous Year: Rs 921.06Crores).
 
 * includes test production sales forRs 0.78 Crores (Previous YearRs 0.95
 Crores)
 
 Note: Company''s interest in Oil Reserves is in Indian Blocks and in Gas
 Reserves is in Myanmar
 
 c) In terms of Production Sharing Agreements/Contracts, the balance
 (company''s share) in cost recovery of Blocks (having proved reserves)
 to be made from future revenue of such Blocks, if any, is Rs 369.81
 Crores at the end of year (previous year:Rs 352.69 crores).
 
 15.  In terms of Production sharing contract (PSC), Myanmar Oil and Gas
 Enterprise (MOGE) exercised its right to demand 15% undivided interest
 in A-1 and A-3 E&P blocks and offshore midstream project and entered
 into an agreement with the other consortium partners during the year
 for acquiring the 15% undivided interest. This has resulted in
 reduction of the participating interest of the company in these two
 blocks from 10% to 8.5%. MOGE has paid Rs 50.97 Crores towards its share
 of past Petroleum Cost which has been adjusted against proportionate
 capital work in progress to the extent ofRs 32.57 Crores and credited
 the balance ofRs 18.40 Crores under the head profit/loss on
 sale/writeoff of assets/rights (net)in the Profit & Loss Account.
 
 16.  An amount ofRs 81.73 Crores remain unpaid as on 31st March, 2011
 against call raised by Brahmaputra Cracker and Polymer Ltd., a
 subsidiary of the company.
 
 17.  In Compliance of Accounting Standard 29 on Provisions, Contingent
 liabilities and Contingent Assets, as against NIL opening balance of
 Provision for probable obligation, there is an addition ofRs 155.48
 crores during the year, NIL utilization /reversal and closing balance
 is Rs 155.48 crores. Additions includeRs 47.40 Crores (Previous Year NIL)
 capitalized in schedule 4. Expected timing of outflows is not
 ascertainable at this stage being legal cases under litigation.
 
 18.  In compliance with amended Clause 32 of the Listing Agreement with
 Stock Exchanges, the required information are given in Annexure - C.
 
 19.  In some cases, the Company has received intimation from Micro and
 Small Enterprises under''The Micro, Small and Medium Enterprises
 Development Act, 2006. The Company has certified that as a practice,
 the payment to Suppliers is made within 7-10 days.
 
 No payments beyond appointed date were noticed.The amount remaining
 unpaid as at 31st March 2011 isRs 2336.12 Crores (Previous Year:Rs 1
 796.80Crores). No payments beyond the appointed date were noticed. No
 interest was paid or payable under the Act.
 
 20.  Following Government of India''s approval, the shareholders of the
 Company in the Annual General Meeting held on 15th September, 1997
 approved the transfer of all the assets including Plant and Machinery,
 accessories and other related assets which are part of Lakwa Project to
 Assam Gas Cracker Complex at a price to be determined by an independent
 Agency and on terms and stipulations as the Board may in its discretion
 deem fit.The Cabinet committee on Economic affairs (CCEA) has approved
 the setting up of Assam Gas based cracker project at Lepetkata by
 formation of a company in which GAIL has equity participation of 70%. A
 company by the name of Brahmaputra Cracker and Polymer Limited has been
 incorporated during 2006-07 and construction of Gas cracker complex is
 in progress.The gross block of fixed assets and Capital work in
 progress value of Lakwa unit isRs 258.33 Crores as on 31st March 2011
 (Previous Year: Rs 253.11 Crores).
 
 21.  Non-Refundable DepositsRs 24.09Crores (Previous Year:Rs 15.98
 Crores) made with the concerned authorities for railway crossings,
 forest crossings, removal and laying of electric/telephone poles and
 lines are accounted for under Capital Work-in-Progress on the basis of
 work done/confirmation from the concerned department.
 
 22.  During the year, the company has made a provision for diminution
 ofRs 0.44 Crores in the carrying cost of its investment in Shel
 Compressed Natural Gas Company, Egypt based on its decision to sell the
 investment at lower value to that extent.
 
 23.  Request for confirmations of balances were sent and
 reconciliations with the parties are carried out as an ongoing process.
 
 24.  The Profit & Loss Account includes: -
 
 (a) Expenditure on Public Relations and Publicity amounting to Rs 20.92
 Crores (Previous Year:Rs 1 3.33 Crores).The ratio of annual expenditure
 on Public Relations and Publicity to the annual turnover is 0.0006:1
 (Previous Year: 0.0005:1).
 
 (b) Research and Development Expenses Rs 0.13 Crores (Previous Year:Rs
 16.17 Crores).
 
 (c) Entertainment ExpensesRs 0.15 Crores (Previous Year:Rs 0.11 Crores).
 
 25.  Previous Year''s (PY) figures have been regrouped and recast to the
 extent practicable, wherever necessary. Figures in brackets indicate
 deductions.