a) 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 revenues, expenses,
 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, uncertainty
 about these assumptions and estimates could result in outcomes
 requiring material adjustment to the carrying amounts of assets and
 liabilities in future periods.
 
 b) Revenue recognition
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 Revenue from sale of goods is recognized when significant risks and
 rewards of ownership of the goods are transferred to the customer.
 
 Export incentives are recognized on accrual basis in accordance with
 the applicable schemes formulated, by the Government of India and where
 there is reasonable assurance that the enterprise will comply with the
 conditions attached to them.
 
 Revenues from job work contract are recognized as and when services are
 rendered.
 
 Dividend income on investments is accounted when the right to receive
 the dividend is established as at reporting date.
 
 Interest income is recognized on a time proportion basis taking into
 account the amount outstanding and the rate applicable. Insurance /
 other claims are recognized on acceptance basis.
 
 c) Hedge accounting
 
 The Company is exposed to foreign currency fluctuations on foreign
 currency assets, liabilities and forecasted cash flows denominated in
 foreign currencies. The Company limits the effects of foreign exchange
 rate fluctuations by following established risk management policies
 including the use of forward cover derivatives.
 
 The Company enters into derivative contract for sale of US dollars, GBP
 and Euros, where the counterparty is a bank.
 
 The Company has adopted principles of hedge accounting as set out in
 Accounting Standard (AS) 30,Financial Instruments: Recognition and
 Measurement, to the extent that the adoption does not conflict with
 existing accounting standards and other authoritative pronouncements of
 Company Law and other regulatory requirements.
 
 Based on the recognition and measurement principles of hedge accounting
 set out in AS 30, the effective portion on changes in the fair values
 of derivative financial instruments designated as cash flow hedges are
 recognized directly in reserves/ equity and are reclassified to the
 statement of profit and loss upon the occurrence of the hedged
 transaction. The ineffective portion of the gain or loss on the hedging
 instrument is recognised immediately in the statement of profit and
 loss. Changes in fair value relating to derivatives not designated as
 hedges are recognized in the statement of profit and loss.
 
 Hedge Accounting is discontinued when the hedging instrument expires or
 is sold, or terminated, or exercised or no longer qualifies for hedge
 accounting. Any cumulative gain or loss on the hedging instrument is
 recognised in hedging reserve is transferred to profit and loss account
 when forecasted transaction occurs or when a hedged transaction is no
 longer expected to occur.
 
 d) Fixed assets and depreciation/ amortization (tangible and
 intangible)
 
 Fixed assets are stated at cost of acquisition/construction less
 accumulated depreciation and impairment losses if any, net of grants
 received, where applicable and subsequent improvements thereto
 including taxes, duties, freight, and other incidental expenses related
 to acquisition/construction. Any trade discounts and rebates are
 deducted in arriving at the purchase price.
 
 Depreciation is provided using the written down value method as per the
 useful lives of the assets estimated by the management, or at the rates
 prescribed under Schedule XIV of the Companies Act, 1956 whichever is
 higher.
 
 Assets individually costing Rs. 5,000 or less are fully depreciated in
 the year of addition. Leasehold improvements are depreciated over the
 primary lease period or useful life, whichever is lower which ranges
 between 5 to 10 years.
 
 Intangible assets comprising of Know-how (Process improvement costs)
 are amortized over 36 months.
 
 e) Borrowing Costs
 
 Borrowing costs includes interest, amortisation of ancillary costs
 incurred in connection with the arrangement of borrowings and exchange
 differences arising from foreign currency borrowings to the extent they
 are regarded as an adjustment to the interest cost.
 
 Borrowing costs attributable to acquisition and construction of
 qualifying assets that necessarily takes substantial period of time to
 get ready for its intended use are capitalized as a part of the cost of
 such asset.  All other borrowing costs are expensed in the period they
 occur.
 
 f) Impairment of tangible and intangible assets
 
 At each reporting date, the Company assesses whether there is any
 indication that an asset may be impaired. If any such indication
 exists, the Company estimates the recoverable amount. If the carrying
 amount of the asset exceeds its recoverable amount, an impairment loss
 is recognized in the statement of profit and loss to the extent the
 carrying amount exceeds the recoverable amount. The recoverable amount
 is the greater of the asset''s net selling price and value in use. In
 assessing value in use, the estimated future cash flows are discounted
 to their present value at the weighted average cost of capital.  After
 impairment, depreciation is provided on the revised carrying amount of
 the asset over its remaining useful life.
 
 g) Inventories
 
 Raw materials, packing materials, stores, spares, and consumables are
 valued at lower of cost and net realizable value. Cost is determined on
 a weighted average basis. 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.
 
 Finished goods and work in progress are valued at lower of cost and net
 realisable value after considering provision for obsolescence and other
 anticipated loss, wherever considered necessary. Finished goods and
 work in progress includes cost of conversion and other production
 overheads. Cost is determined on a weighted average basis. Cost of
 finished goods includes excise duty.
 
 Net realizable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and estimated
 costs necessary to make the sale.
 
 h) 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 of monetary items or on
 reporting monetary items of Company at rates different from those at
 which they were initially recorded during the year, or reported in
 previous financial statements, are recognised as income or as expenses
 in the year in which they arise.
 
 i) Government Grants and subsidies
 
 Grants and subsidies from the government are recognized when there is
 reasonable assurance that the grant/subsidy will be received and all
 attaching conditions will be complied with.
 
 When the grant or subsidy relates to an expense item, it is netted off
 with the relevant expense. Where the grant or subsidy relates to an
 asset, its value is deducted in arriving at the carrying amount of the
 related asset.
 
 j) Investments
 
 Investments that are readily realizable and intended to be held for not
 more than a year from the date on which such investments are made, are
 classified as current investments. All other investments are classified
 as long term investments. Current investments are carried at lower of
 cost and fair value determined on an individual investment basis.
 Long-term investments are carried at cost. However, provision for
 diminution in value is made to recognize a decline other than temporary
 in the value of the investments. On disposal of an investment, the
 difference between its carrying amount and net disposal proceeds is
 charged / credited to statement of profit and loss.
 
 k) Retirement and Other Employee Benefits
 
 (i) Defined Contribution Plans:
 
 Contributions to provident fund are made at pre-determined rates and
 charged to the statement of profit and loss for the year when
 contributions are due. The Company has no obligation, other than the
 contribution payable to the provident fund.
 
 (ii) Defined Benefit Plans:
 
 Gratuity liability is accrued in the books based on actuarial valuation
 on projected unit credit method as at reporting date. Actuarial gains
 or losses are immediately taken to statement of profit and loss and are
 not deferred.
 
 (iii) Compensated absences:
 
 Accumulated leave, which is expected to be utilised within the next
 twelve months, is treated as short- term employee benefit. The Company
 treats accumulated leave expected to be carried forward beyond twelve
 months, as long-term employee benefit for measurement purposes.
 Compensated absences are provided for, on the basis of an actuarial
 valuation on projected unit credit method at the end of each financial
 year. Actuarial gains or losses are immediately taken to statement of
 profit and loss and are not deferred.
 
 l) Taxation
 
 Tax expense comprises current and deferred tax. Current income tax is
 measured at the amount expected to be paid to the tax authorities in
 accordance with the Income-tax Act, 1961. 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 reporting date. Deferred tax
 assets and deferred tax liabilities are offset, if a legally
 enforceable right exists to set off current tax assets against current
 tax liabilities and the deferred tax assets and deferred tax
 liabilities relate to the taxes on income levied by same governing
 taxation laws. Deferred tax assets are recognised 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
 realised. In situations where the Company has unabsorbed depreciation
 or carry forward tax losses, deferred tax asset is recognised only to
 the extent that it has timing differences the reversal of which will
 result in sufficient income or there is other convincing evidence that
 sufficient taxable income will be available against which such deferred
 tax assets can be realised.
 
 At each reporting date, the Company re-assesses unrecognised deferred
 tax assets. It recognises deferred tax assets to the extent that it has
 become reasonably certain or virtually certain, as the case may be that
 sufficient future taxable income will be available against which such
 deferred tax assets can be realised.
 
 The carrying amount of deferred tax assets are reviewed at each
 reporting date. The Company writes-down the carrying amount of a
 deferred tax asset 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 realised.
 
 Minimum Alternative Tax (''MAT'') credit is recognised, as an asset only
 when and to the extent there is convincing evidence that the Company
 will pay normal income tax during the specified period. In the year in
 which the MAT credit becomes eligible to be recognized as an asset in
 accordance with the recommendations contained in Guidance Note issued
 by the Institute of Chartered Accountants of India, the said asset is
 created by way of a credit to the statement of profit and loss and
 shown as MAT Credit Entitlement. The Company reviews the same at each
 reporting date and writes down the carrying amount of MAT Credit
 Entitlement to the extent there is no longer convincing evidence to the
 effect that Company will pay normal Income Tax during the specified
 period.
 
 m) Accounting for leases
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term, are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the statement of profit and loss on a straight-line basis over the
 lease term.
 
 n) Provisions
 
 A provision is recognised when an enterprise has a present obligation
 as a result of past event; 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 are not discounted to its
 present value and are determined based on best estimate required to
 settle the obligation at the reporting date. These are reviewed at each
 reporting date and adjusted to reflect the current best estimates.
 
 o) Segment Reporting Policies
 
 (i) Identification of segments:
 
 The Company''s operating businesses are organized and managed separately
 according to the nature of products and services provided, with each
 segment representing a strategic business unit that offers different
 products and serves different markets. The analysis of geographical
 segments is based on the areas in which major operating divisions of
 the Company operate.
 
 (ii) Basis of allocation:
 
 Assets, liabilities, income, and expenditure are allocated to each
 segment according to the relative contribution of each segment to the
 total amount. Unallocated items include general corporate items, which
 are not allocated to any segment.
 
 (iii) Segment Policies:
 
 The Company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the Company as a whole.
 
 p) Earnings Per Share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders (after
 deducting preference dividends and attributable taxes) by the weighted
 average number of equity shares outstanding during the period. Partly
 paid equity shares are treated as a fraction of an equity share to the
 extent that they were entitled to participate in dividends relative to
 a fully paid equity share during the reporting period. The weighted
 average number of equity shares outstanding during the period is
 adjusted for events of bonus issue; bonus element in a rights issue to
 existing shareholders; share split; and reverse share split
 (consolidation of shares).
 
 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) Contingent Liability
 
 A contingent liability is a possible obligation that arises from past
 events whose existence will be confirmed by the occurrence or
 non-occurrence of one or more uncertain future events beyond the
 controls of the Company or a present obligation that is not recognised
 because it is not probable that an outflow of resources will be
 required to settle the obligation. A contingent liability also arises
 in extremely rare cases where there is a liability that cannot be
 recognised because it cannot be measured reliably. The Company does not
 recognise a contingent liability but discloses its existence in the
 financial statements.
 
 r) 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.