(All amounts in Rs. Lakhs except otherwise stated)
 
 A.  Background
 
 Gokaldas Exports Limited (''the Company'') was incorporated on March 1,
 2004 by converting the erstwhile partnership firm Gokaldas India under
 Part IX of the Companies Act, 1956. Pursuant to the order of the
 Hon''ble High Court of Karnataka dated November 20, 2004, Gokaldas
 Exports Private Limited and The Unique Creations (Bangalore) Private
 Limited have been amalgamated with the Company, with April 1, 2004
 being the appointed date. The Company currently operates a 100% Export
 Oriented Unit, a Domestic Tariff Area Unit and a Special Economic Zone
 Unit.
 
 The Company is engaged in the business of design, manufacture and sale
 of a wide range of garments for men, women and children and caters to
 the needs of several leading international fashion brands and
 retailers. The principal source of revenue for the Company is from
 export of garments and related products.
 
 1.  Contingent liabilities                        Amount in Rs Lakhs
 
                                                      2011       2010
 
 Claims against the Company not acknowledged 
 as debts                                           239.02     349.60
 
 Guarantees given by banks                          305.60     315.10
 
 Outstanding letters of credit                    1,049.44     364.37
 
 Export Bills discounted with banks              14,153.84  13,849.46
 
 Estimated amount of contracts remaining to
 be executed on capital accounts and not 
 provided for (net of advances)                     320.71     470.66
 
 2.  Export Promotion Capital Goods Scheme
 
 The Company has imported capital goods without payment of duty under
 Export Promotion Capital Goods (''EPCG'') Scheme upto March 31, 2010.
 Under the EPCG scheme, the Company has export obligations of Rs.
 1,483.59 lakhs (2010 : Rs. 840.41 lakhs) to be fulfilled before
 November 05, 2017.
 
 3.  Gratuity
 
 The Company has a defined benefit gratuity plan. Every employee who has
 completed five years or more of service gets a gratuity on retirement
 or termination at 15 days salary (last drawn salary) for each completed
 year of service. The scheme is funded with an insurance Company in the
 form of a qualifying insurance policy.
 
 The following tables summarise the components of net benefit expense
 recognised in the profit and loss account and the funded status and
 amounts recognised in the balance sheet:
 
 4.  Segment information
 
 a) Primary business segment
 
 The Company is engaged in a single business segment of sale of garment,
 and hence, no additional disclosures are required, other than those
 already given in the financial statements.
 
 b) Secondary business segment (by geographical area based on location
 of customers):
 
 Notes:
 
 1.  All fixed assets are located in India.
 
 2.  Figures in brackets relate to previous year.
 
 
 5.  Related party disclosures
 
 A.  Names of related parties and description of relationship:
 
     Description of Relationship   Names of related parties
 
 a.  Parties where control exists:
 
     Immediate Holding Company     Blackstone FP Capital Partners 
                                   (Mauritius) V-B Subsidiary Limited
 
     Ultimate Holding Company      Blackstone FP Capital Partners 
                                   (Mauritius) V-B Limited
 
     Wholly Owned Subsidiaries     All Colour Garments Private 
                                   Limited
 
                                   Deejay Trading Private Limited 
 
                                   Glamourwear Apparels Private 
                                   Limited
 
                                   Madhin Trading Private Limited 
 
                                   Magenta Trading Private Limited 
 
                                   Rafter Trading Private Limited 
 
                                   Rajdin Apparels Private Limited 
 
                                   Reflexion Trading Private Limited 
 
                                   Rishikesh Apparels Private Limited 
 
                                   Robot Systems Private Limited 
 
                                   Seven Hills Clothing Private 
                                   Limited 
 
                                   SNS Clothing Private Limited 
 
                                   Vignesh Apparels Private Limited
 
 b.  Key management personnel:
 
     Chairman                      Mr. Madanlal J Hinduja (upto 
                                   January 15, 2011)
 
     Managing Director             Mr. Rajendra J Hinduja (upto 
                                   March 31, 2011)
 
     Executive Director            Mr. Dinesh J Hinduja (upto 
                                   March 31, 2011)
 
     Chief Operating 
     Officer - Production          Mr. Ashwin R Hinduja
 
     Chief Operating 
     Officer - Marketing           Mr. Vivek M Hinduja (upto 
                                   September 30, 2010)
 
     Chief Operating               Mr. Gaurav D Hinduja (upto 
     Officer - Marketing           May 31, 2010)
 
 c.  Enterprises over which key management personnel and their relatives
 exercise significant influence with whom transactions have taken place
 during the year
 
     Partnership Firm              Hinduja Trading Company
 
                                   DMR Enterprises 
                                   Universal Garments
 
     Private Limited Companies     VAG Exports Private Limited
 
 5.  Leasing Arrangements:
 
 The Company''s leasing arrangements in respect of its office, factory
 and residential premises are in the nature of operating leases. These
 leasing arrangements, which are usually cancellable at the option of
 the lessee, are for a total period ranging from eleven months to six
 years and are renewable with mutual consent. The charge on account of
 lease rentals for the year is Rs. 899.17 lakhs (2010 : Rs. 675.57
 lakhs).
 
 6.  On April 16, 2010, there was a fire in one of the raw material
 warehouses of the Company in Bangalore and materials valued at Rs.
 3,766.49 lakhs were fully destroyed. The Insurance claim has been
 settled during the year and the Company has received Rs. 3,235.33 lakhs
 in full settlement of the claim. The difference between the amount
 claimed and settled, being Rs. 531.16 lakhs has been charged off as
 extraordinary item in the profit and loss account in the current year.
 
 7.  Previous year''s figures have been regrouped / rearranged /
 reclassified, wherever necessary to conform to the current year''s
 presentation.