(i) There has been no movement in the equity shares in the current and
 previous year.
 
 (ii) The Company has only one class of equity shares having a par value
 of Rs. 10 per share. Each holder of equity shares is entitled to one
 vote per share.
 
 The Company declares and pays dividends in Indian rupees. The dividend
 proposed by the Board of Directors is subject to the approval of the
 shareholders in the ensuing Annual General Meeting. The Board may from
 time to time pay to the members such interim dividends as appear to it
 to be justified by the profits of the Company.
 
 (iii) Shares held by each shareholder holding more than 5%:
 
 1. CONTINGENT LIABILITIES NOT PROVIDED FOR        As at       As at
                                               31.3.2012   31.3.2011
 
 a) Demands from excise, income tax, sales 
    tax and other authorities disputed by 
    the Company @                                2459.27*    2524.93
 
 b) Uncalled liability on shares partly paid       79.24      148.99
 
 c) Surety given to U.P. Trade Tax Authority 
    on behalf of subsidiary company-
    international Tobacco Company Limited              -       15.66
 
 d) Guarantee given to a bank on behalf of 
    subsidiary company - International Tobacco 
    Company Limited                                54.29       46.79
 
 *includes Rs.1784.86 lacs (previous year Rs.1702.65 lacs) relating to
 demands received by the subsidiary company - International Tobacco
 Company Limited.
 
 @ all these matters are subject to legal proceedings in the ordinary
 course of business and in the opinion of the Company, these are not
 expected to have material effect on the financial results of the
 Company when ultimately concluded.
 
 Further, there are no dues of wealth tax, customs duty and service tax
 which have not been deposited on account of any disputes.
 
 Further, as per information available with the Company, the concerned
 authority is in appeal against favourable orders received by the
 Company in respect of the following matters:
 
 2.  The Company and its contract manufacturer have received various
 show cause notices from Excise Authorities asking them to explain why
 certain amounts mentioned in these notices should not be paid. As these
 notices are in the nature of explanations required, the Company does
 not consider these to constitute a liability of any kind.
 
 3.  The estimated amount of contracts remaining to be executed on
 capital amount and not provided for (net of advances) amount to
 Rs.5642.29 lacs (previous year- Rs.19369.47 lacs).
 
 The Company has other commitments, for purchases/sales orders which are
 issued after considering requirements per operating cycle for
 purchase/sale of goods and services and employee benefits including
 union agreements, in normal course of business. The Company does not
 have any other long term commitments or material non-cancellable
 contractual commitments/contracts, which might have material impact on
 the financial statements.
 
 4.  Amount due to micro and small enterprises covered under The
 Micro, Small and Medium Enterprises Act, 2006 has been disclosed to
 the extent such parties having been identified from the available
 information.  The Company has not received any claim for interest from
 any party covered under the said Act.
 
 5.  The Company has entered into various operating lease agreements
 for premises (residential, offices, godowns, etc.). These lease
 arrangements are mostly cancellable in nature and range between two to
 three years generally, or longer, and are usually renewable by mutual
 consent on mutually agreeable terms. The aggregate rentals paid under
 such agreements have been charged as rent in Note 28.
 
 The future minimum lease payments in respect of non-cancellable periods
 ofcertain operating leases are as under:
 
 (i) for periods not later than one year - Rs.207.85 lacs (previous year
 - Rs.118.22 lacs)
 
 (ii) for periods between later than one year and less than five years -
 Rs.406.52 lacs (previous year - Rs.216.65 lacs).
 
 (iii) For period later than five years- Rs.80.73 Lacs (previous year
 Rs. Nil).
 
 The Company has let out and sub-let part of its owned and rented office
 premises under lease arrangements which are cancellable in nature but
 renewable on mutually agreeable terms. The rent and hire charges
 receivable in respect thereof have been accrued as income in Note 21.
 
 6.  Related party disclosures under Accounting Standard 18
 
 (A) Names of related parties and nature of related party relationships:
 
 (a) Subsidiary companies:
 
      International Tobacco Company Limited 
 
      Chase Investments Limited
 
      Manhattan Credits and Finance Limited (merged with Chase 
      Investments Limited in current year) 
 
      City Leasing and Finance Company Limited (merged with Chase 
      Investments Limited in current year)
 
 (b) Subsidiaries of the subsidiary companies:
 
      Kashyap Metal and Allied Industries Limited Unique Space 
      Developers Limited
 
      Rajputana Infrastructure Corporate Limited (subsidiary of 
      Kashyap Metal and Allied Industries Limited)
 
      Gopal Krishna Infrastructure & Real Estate Limited 
      (subsidiary of Unique Space Developers Limited)
 
 (c) Associates:
 
      Philip Morris Global Brands Inc. (Formerly Philip Morris 
      International Finance Corporation), which the Company is an 
      associate.
 
      Success Principles India Limited, an associate of the Company.
 
      IPM India Wholesale Trading Private Limited, an associate of the
      Company.
 
      KKM Management Centre Private Limited, an associate of the 
      Company .
 
 (d) Key management personnel and their relatives:
 
      Mr. K.K. Modi            President and Managing Director
 
      Mr. Samir Kumar Modi     Executive Director
 
      Mr. Lalit Kumar Modi     Executive Director (upto July 31, 2010)
                               and Ordinary Director thereafter and a
                               relative of Mr. K.K.Modi and 
                               Mr.Samir Kumar Modi
 
      Mr. R. Ramamurthy        Whole-time Director
 
 (e) Enterprises over which key management personnel and their relatives
 are able to exercise significant influence:
 
 
 Modicare Limited
 
 Modern Homecare Products Limited
 
 Beacon Travels Private Limited
 
 Indofil Industries Limited
 
 Assam Cigarette Company Private Limited
 
 R C Tobacco Private Limited
 
 HMA Udyog Private Limited
 
 Bina Fashion N Food Private Limited
 
 Modicare Foundation
 
 Priyal Hitay Nidhi
 
 Colorbar Cosmetics Private Limited
 
 Gujarmal Modi Science Foundation
 
 Modi Healthcare Placement India Private Limited
 
 Modi Innovative Education Society
 
 7. Segment reporting disclosures under Accounting Standard 17
 
 (A) Business segments:
 
 Based on the guiding principles given in Accounting Standard-17
 Segment Reporting, the Company''s primary business segments are (a)
 Cigarette and tobacco products; and (b) Tea and other retail products.
 
 (B) Geographical segments:
 
 Since the Company''s activities/operations are primarily within the
 country and considering the nature of products it deals in, the risks
 and returns are same and as such there is only one geographical
 segment.
 
 Segment accounting policies:
 
 In addition to the significant accounting policies applicable to the
 business segments as set out in Note 1, the accounting policies in
 relation to segment accounting are as under:
 
 a) Segment revenue and expenses:
 
 Segment revenue and expenses only include items directly attributable
 to the segment. They do not include investment income, interest income
 from inter-corporate deposits and loans given, dividend income, profit
 or loss on sale of investments, provision for diminution in value of
 investments, finance cost, donations and provision for taxation
 (current and deferred tax). Since the corporate office of the Company
 primarily caters to the cigarette and tobacco products segment, its
 expenses have been considered to be attributable to the same.
 
 b) Segment assets and liabilities:
 
 All segment assets and liabilities are directly attributable to the
 segment.
 
 Segment assets include all operating assets used by the segment and
 consist principally of net fixed assets, inventories, sundry debtors,
 loans and advances and operating cash and bank balances. Segment
 liabilities include all operating liabilities and consist principally
 of creditors and accrued liabilities. Segment assets and liabilities do
 not include investments, inter-corporate deposits and loans given, bank
 balances for unclaimed dividend and fixed deposits'' unclaimed interest,
 real estate stock, share capital, reserves and surplus, loan funds,
 dividends payable and income-tax (current and deferred tax).
 
 II.  Other long term employee benefits (based on actuarial valuation)
 
 * Compensated absences - amount recognized in the statement of profit
 and loss - Rs.842.57 lacs; previous year Rs.737.23 lacs.
 
 III. Defined benefit plans (based on actuarial valuation)
 
 * Gratuity
 
 In accordance with Accounting Standard 15 (revised 2005), actuarial
 valuation was done in respect of the aforesaid defined benefit plan and
 details of the same are given below:
 
 8. The Revised Schedule VI has become effective from April 1, 2011 for
 the preparation of financial statements. This has significantly
 impacted the disclosure and presentation made in the financial
 statements. Previous year''s figures have been regrouped/reclassified,
 wherever considered necessary to conform to the current year''s
 classification/disclosure.