a Basis of accounting and preparation of financial statements
 
 The financial statements of the Company have been prepared in
 accordance with the Generally Accepted Accounting Principles in India
 (Indian GAAP) to comply with the Accounting Standards notified under
 the Companies (Accounting Standards) Rules, 2006 (as amended) and the
 relevant provisions of the Companies Act, 1956. The financial
 statements have been prepared on accrual basis under the historical
 cost convention .  The accounting policies adopted in the preparation
 of the financial statements are consistent with those followed in the
 previous year.
 
 b Use of estimates
 
 The preparation of the financial statements in conformity with Indian
 GAAP requires the Management to make estimates and assumptions
 considered in the reported amounts of assets and liabilities (including
 contingent liabilities) and the reported income and expenses during the
 year. The Management believes that the estimates used in preparation of
 the financial statements are prudent and reasonable. Future results
 could differ due to these estimates and the differences between the
 actual results and the estimates are recognised in the periods in which
 the results are known / materialise.
 
 c Depreciation and amortisation
 
 Depreciation has been provided on the written down value method as per
 the rates prescribed in Schedule XIV to the Companies Act, 1956.
 
 Pro-rata Depreciation is provided on additions/disposal of fixed assets
 during the year.
 
 Revenue recognition
 
 Sale of units
 
 Sales are recognised, net of returns and trade discounts, on transfer
 of significant risks and rewards of ownership to the buyer, which
 generally coincides with the delivery of units to customers.Net sales
 exclude excise duty, sales tax and value added tax.
 
 Income from services
 
 Revenues from contracts priced on a time and material basis are
 recognised when services are rendered and related costs are incurred.
 Revenues from turnkey contracts, which are generally time bound fixed
 price contracts, are recognised over the life of the contract using the
 proportionate completion method, with contract costs determining the
 degree of completion. Foreseeable losses on such contracts are
 recognised when probable.
 
 Revenues from maintenance contracts are recognised pro-rata over the
 period of the contract.
 
 e. Other income
 
 Interest income is accounted on accrual basis. Dividend income is
 accounted on receipt basis.
 
 g Tangible fixed assets
 
 Fixed assets are carried at cost less accumulated depreciation. The
 cost of fixed assets include other incidental expenses incurred up to
 that date. Subsequent expenditure relating to fixed assets is
 capitalised only if such expenditure results in an increase in the
 future benefits from such asset beyond its previously assessed standard
 of performance,
 
 Fixed assets acquired in full or part exchange for another asset are
 recorded at the fair market value or the net book value of the asset
 given up, adjusted for any balancing cash consideration. Fair market
 value is determined either for the assets acquired or asset given up,
 whichever is more clearly evident.
 
 g. Foreign currency transactions and translations
 
 Initial recognition
 
 Transactions in foreign currencies entered into by the Company and its
 integral foreign operations are accounted at the exchange rates
 prevailing on the date of the transaction or at rates that closely
 approximate the rate at the date of the transaction, Measurement of
 foreign currency monetary items at the Balance Sheet date Foreign
 currency monetary items (other than derivative contracts) of the
 Company and its net investment in non-integral foreign operations
 outstanding at the Balance Sheet date are restated at the year-end
 rates.
 
 In the case of integral operations, assets and liabilities (other than
 non-monetary items), are translated at the exchange rate prevailing on
 the Balance Sheet date. Non-monetary items are carried at historical
 cost. Revenue and expenses are translated at the average exchange rates
 prevailing during the year. Exchange differences arising out of these
 translations are charged to the Statement of Profit and Loss.
 
 Treatment of exchange differences
 
 Exchange differences arising on settlement / restatement of short-term
 foreign currency monetary assets and liabilities of the Company and its
 integral foreign operations are recognised as income or expense in the
 Statement of Profit and Loss.
 
 The exchange differences arising on restatement / settlement of
 long-term foreign currency monetary items are capitalised as part of
 the depreciable fixed assets to which the monetary item relates and
 depreciated over the remaining useful life of such assets or amortised
 on settlement / over the maturity period of such items if such items do
 not relate to acquisition of depreciable fixed assets. The unamortised
 balance is carried in the Balance Sheet as Foreign currency monetary
 item translation difference account net of the lax effect thereon.
 
 h. Government grants, subsidies and export incentives
 
 Government grants and subsidies are recognised when there is reasonable
 assurance that the Company will comply with the conditions attached to
 them and the grants / subsidy will be received. Government grants whose
 primary condition is that the Company should purchase, construct or
 otherwise acquire capital assets are presented by deducting them from
 the carrying value of the assets. The grant is recognised as income
 over the life of a depreciable asset by way of a reduced depreciation
 charge.
 
 i. Investments
 
 Long-term investments (excluding investment properties), are carried
 individually at cost less provision for diminution, other than
 temporary, in the value of such investments. Current investments are
 carried individually, at the lower of cost and fair value. Cost of
 investments include acquisition charges such as brokerage, fees and
 duties.
 
 Investment properties are carried individually at cost less accumulated
 depreciation and impairment, if any.  Investment properties are
 capitalised and depreciated (where applicable) in accordance with the
 policy stated for Tangible Fixed Assets. Impairment of investment
 property is determined in accordance with the policy stated for
 Impairment of Assets.
 
 j Employee benefits
 
 Contributions to Provident Fund for the year are recognized in the
 Profit & Loss Account.
 
 The liability towards gratuity, leave encashment, post retirement
 benefits and other long-term benefits are provided for in the accounts
 based on actuarial valuation as at the end of the year. Actuarial gains
 and losses are recognized in the Profit and Loss Account as income or
 expense.
 
 k Earnings per share
 
 Basic earnings per share is computed by dividing the profit / (loss)
 after tax (including the post-tax effect of extraordinary items, if
 any) by the weighted average number of equity shares outstanding during
 the year.  Diluted earnings per share is computed by dividing the
 profit / (loss) after tax (including the post-tax effect of
 extraordinary items, if any) as adjusted for dividend, interest and
 other charges to expense or income relating to the dilutive potential
 equity shares, by the weighted average number of equity shares
 considered for deriving basic earnings per share and the weighted
 average number of equity shares which could have been issued on the
 conversion of all dilutive potential equity shares. Potential equity
 shares are deemed to be dilutive only if their conversion to equity
 shares would decrease the net profit per share from continuing ordinary
 operations.
 
 Potential dilutive equity shares are deemed to be converted as at the
 beginning of the period, unless they have been issued at a later date.
 The dilutive potential equity shares are adjusted tor the proceeds
 receivable had the shares been actually issued at fair value (i.e.
 average market value of the outstanding shares). Dilutive potential
 equity shares are determined independently for each period presented.
 The number of equity shares and potentially dilutive equity shares are
 adjusted lor share splits / reverse share splits and bonus shares, as
 appropriate.
 
 l Taxes on income
 
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the Income Tax
 Act, 1961.
 
 Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
 gives future economic benefits in the form of adjustment to future
 income tax liability, is considered as an asset if there is convincing
 evidence that the Company will pay normal income tax. Accordingly. MAT
 is recognised as an asset in the Balance Sheet when it is probable that
 future economic benefit associated with it will flow to the Company.
 
 Deferred tax is recognised on timing differences, being the differences
 between the taxable income and the accounting income that originate in
 one period and are capable of reversal in one or more subsequent
 periods.  Deferred tax is measured using the tax rates and the tax laws
 enacted or substantially enacted as at the reporting date.
 
 Deferred tax liabilities are recognised for all timing differences.
 Deferred tax assets in respect of unabsorbed depreciation and carry
 forward of losses are recognised only if there is virtual certainty
 that there will be sufficient future taxable income available to
 realise such assets. Deferred tax assets are recognised for timing
 differences of other items only to the extent that reasonable certainty
 exists that sufficient future taxable income will be available against
 which these can be realised. Deferred tax assets and liabilities are
 offset if such items relate to taxes on income levied by the same
 governing tax law:s and the Company has a legally enforceable right for
 such set off. Deferred tax assets are reviewed at each Balance Sheet
 date for their realisability.
 
 Current and deferred tax relating to items directly recognised in
 equity are recognised in equity and not in the Statement of Profit and
 Loss.
 
 m Impairment of assets
 
 The values of fixed assets are reviewed by the management for
 impairment at each Balance Sheet date if events or circumstances
 indicate that the carrying values may not be recoverable. If the
 carrying value is more than the net selling price of the asset or
 present value, the difference is recognized as an impairment loss.
 
 n Provisions and contingencies
 
 A provision is recognised when the Company has a present obligation as
 a result of past events 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.
 
 o Borrowing Costs
 
 Borrowing costs attributable to acquisition, construction or production
 of qualifying asset arc capitalized as part of the cost of that asset,
 till the month in which the asset is read for use. Other borrowing
 costs are recognized as an expense in the period in which these are
 incurred.
 
 p Provisions, Contingent Liabilities and Capital Commitments
 
 Provision is recognized when there is a present obligation as a result
 of a 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.
 
 Contingent liabilities are disclosed in respect of possible obligations
 that arise from past events but their existence is confirmed by the
 occurrence or non-occurrence of one or more uncertain future events not
 wholly within the control of the company.
 
 Capital commitments and Contingent liabilities disclosed are in respect
 of items which exceed Rs.0.05 crores in each case.
 
 Contingent liabilities are considered only on conversion of show cause
 notices issued by various Government authorities into demand.
 
 Cash flow statement is prepared segregating the cash flows operating,
 investing and financing activities. Cash flow from operating activities
 is reported using indirect methos
 
 i.  Transactions of non-cash nature
 
 ii Any deferrals or accruals of past or future operating cash receipts
 or payments and in.  Items of income or expenses associated with
 investing or financing cash flows.
 
 Cash and cash equivalents (including bank balances) are reflected as
 such in the cash flow statement. Those cash and cash equivalents which
 are not available for general use as on the dale of Balance Sheet are
 also included under this category with as specific disclosure.