1.the company has complied with as 28 requirement for testing 
 impairment of assets impairment loss recognised for the year charged 
 till profit  and loss accounted to nil previous Rs.22.12 lacs 
 
 2. the company un compliance with as 26 on in tangible assets has
 recommended the intangible assets acquired during the year on product
 development costs at Rs.200.10 lacs (previous year Rs.230.27 lacs)
 computer software Rs.33.44 lacs (previous year 18.68 lacs ) talking
 into consideration the clarification issued by the institute of
 chartered accountants of India date 7th October 2003 the expenses that
 have already been recognised as deferred revenue expenditure up to 1st
 April 2004 are being continued to be amortized over the remaining
 period
 
 4estimated amount of contracts remaining to be executed on capital
 account and not provided for net of advances Rs.298.95 lacs previous
 year 201.67 lacs
 
 3 A disclosure pursuant to accounting standard as7 construction
 contracts the construction work in progress fibre & industrial product
 &project segment amounts to 796.90 lacs previous year 1.173.86 lacs 
 
 B for these construction contracts the progress payments received
 advances and retention on account of constructs are 199.32 lacs 5.00
 lacs and 31.63 lacs previous year 2.715.50 lacs 23.00 lacs and 316.84
 lacs respectively.
 
 4 A the company has entered into a partnership agreement with minority
 shares to execute geo synthetics work contract value worth 577.31 lacs
 during the year ended 31.03.2011 the said partnership has incurred a
 loss of Rs.0.02 lacs previous year 0.20 lacs
 
 B the company has entered into a joint venture agreement with waste
 management pacific pvt. ltd (WMPL) a company incorporated under the 
 law of Australia to carry out business of environment service through
 garware environmental services pvt ltd (jv company) (jv company) is 
 yet to commence its commercial operation
 
 5 contingent liabilities
 
 i) disputed excise duty 27.57 lacs previous year 35.30 lacs
 
 ii) bank guarantees for 1390.35 lacs previous year B24.27 lacs in the
 ordinary course of business against which the company has issued
 counter guarantees for the overall bank limits of 12.500 lacs previous
 year 12.500 lacs
 
 iii) disputed amount of sales tax liability 42.02 lacs previous year
 57.49 lacs
 
 iv) dispute property tax liability on factory premises pune 20.97 lacs
 previous year 20.97 lacs
 
 v) export sales bills discounted with the bank 168.89 lacs previous
 year 164.23
 
 vi)disputed octroi liability on rate increase of 21.64 lacs previous
 year 27.98 lacs has been paid under protest liability of interest if
 any thereon for daily period has not been considered
 
 6 disclosures under the micro small & medium enterprises development
 act 2006
 
 a) an amount of 14.27 lacs previous year 22.93 lacs and nil previous
 year nil was due and outstanding to suppliers as at the end of the year
 on account of principal and interest respectively
 
 b) no interest was paid during the year
 
 c) no interest outstanding at the end of the year where principal 
 amount has been paid off to the supplier but interest amount is 
 outstanding on 31.03.11
 
 d) no amount of interest was accrued and unpaid at the end of ten year
 the above information and chat given in schedule vii current
 liabilities and provision regarding micro small and medium enterprises
 has been determined to the extent such to the extent such parties have
 been indemnified on the basic of the information available with the
 company this has been relied upon by the auditors
 
 7 the company has set aside as reserve 315 lacs in fy 2000-2001 from
 its general reserve for contingencies that may arise in ten event there
 in diminution in the value of investments of a permanent nature in the
 future.
 
 8. EMPLOYEE BENEFITS:
 
 (i) Effective 1st April,2007, the Company adopted Accounting Standard
 15 (Revised 2005) on Employee Benefits issued by the Institute of
 Chartered Accountant of India.
 
 (ii) Contribution to Provident Fund, Gratuity and Superannuation Funds
 an amount of Rs245.01 lacs (previous year Rs248.82 lacs is recognised
 as expenses and include is employees remuneration and benefits (refer
 scheduled (x) in the profit and loss account
 
 note : employers contribution includes payment made by the company
 directly to its past employees .
 
 (iv) broad category of plan assets relating to gratuity as a percentage
 of total plan assets the company s gratuity fund is managed by the life
 insurance corporation of India and HDFC standards life insurance the
 plan assets under the fund are deposited under approved securities.
  
 the figures for installed capacity are as certified by the whole tome
 director and being a technical matter have not been verified by the
 Auditors the actual production includes production needed for other
 products /division and processed through job work s #machinery
 production includes 17 machines products for captive consumption
 (previous year 16 machine consumed ) as part of its of dealing in
 securities the company holds 1.33.100equity shares (previous year
 1.33.100) as stock in -trade these are valued at the lower of the cost
 or market price Rs0.74 lacs previous year Rs0.74 lacs
 
 note: secured textiles member net and other items purchased have been
 partly used in construction contract activates therefore sales quality
 and values are not comparable which have been clubbed in construction
 contracts
                       
 9. Segment Reporting
 
 i) Primary Segment Report
 
 iii) Notes:
 
 The business segments viz. Synthetic Cordage and Fibre and Industrial
 Products and Projects are considered as the primary segments. Synthetic
 Cordage comprises of ropes, twines and nettings made of twine. Fibre,
 synthetic fabric, yarn, woven and non-woven textiles, secured, coated
 steel gabions, machinery and project form the Fibre and Industrial
 Products & Project segment. Inter-segment sales are accounted for at
 market value.
 
 The geographical segments on the basis of location of customers are
 considered as secondary segments. Sales are recognised as sales to
 customers in India and sales to customers outside India.
 
 10. Transactions with related parties
 
 (I) The Company has identified following related parties:
 
 A. Associates Companies
 
 1. Garware Elastomerics Ltd.
 
 2. Garware Bestretch Ltd.
 
 (Formerly, Bestretch Elastomers International Ltd.)
 
 B. Companies / other organisations under the control of Directors where
 transactions are entered into and/or outstanding balance exists as at
 the Balance Sheet Date:
 
 1. RSDV Finance Company (R) Ltd.
 
 2. RSDV Investments Pvt. Ltd.
 
 3. Suramex Exim (R) Ltd.
 
 4. Garware Capital Markets Ltd.
 
 5. Garware Indus Consulting Ltd.
 
 6. Garware Utzon (Cordage) Ltd.
 
 7. Manmit Investments & Trading Company (R) Ltd.
 
 C. Directors - Key Management Persons
 
 Mr. R. B. Garware Mr. V R. Garware
 
 D. Relative of Key Management Persons having control or significant
 influence over the Company by reason of voting power
 
 Mr. R. B. Garware MRSDivya Gaware libanez Mr. V R. Garware
 
 E. Companies / other organisations under the control of Directors where
 no transactions are entered into and or no outstanding balance exists
 as at the Balance Sheet Date:
 
 1. Consolidated Agricultural & Dairy Farming Company (R) Ltd
 
 2. Vimalabai Garware Research Institute
 
 3. Ramesh Trading Company
 
 4. Sunita Trading Company
 
 5. Diya Trading Company
 
 6. Vayu Trading Company
 
 7. Ramesh B. Garware (HUF)
 
 8. Garware Securities Broking Ltd.
 
 9. Gartex Industries Ltd.
 
 10. Garware Environmental Services Pvt. Ltd.
 
 11. Garware Infrastructure Pvt. Ltd.
 
 12. Garware Biofuels Pvt. Ltd.
 
 13. Ceebeegee Investment Company Pvt. Ltd.
 
 14. Moonshine Investments & Trading Co. Pvt. Ltd.
 
 15. Gurukrupa Investments & Trading Co. Pvt. Ltd.
 
 16. Sanand Investments & Trading Company Pvt. Ltd.
 
 17. StaRshine Investments & Trading Company Pvt. Ltd.
 
 18. Sukukar Holdings & Trading Company Pvt. Ltd.
 
 19. Garware Research Institute
 
 11. Earnings per Share (EPS) computed in accordance with Accounting
 Standard 20 Earning Per Share