a) Rights, preferences and restrictions attached to shares
 
 Equity shares
 
 The Company has one class of equity shares having a par value of Rs.
 10/- each. Each shareholder is eligible for one vote per share held.
 The dividend proposed by Board of Directors is subject to approval of
 shareholders in the ensuing Annual General Meeting. In the event of
 liquidation, the equity shareholders are eligible to receive the
 remaining assets of the Company after distribution of all preferential
 amounts, in proportion to their shareholding.
 
 During the year ended 31st March, 2012, the amount of per share
 dividend recognized as distributions to equity shareholders was Rs.
 7.50 (31st March, 2011: Rs. 7/- per equity share).
 
 Notes :
 
 a) The Company has acquired land through Government and also through
 direct negotiations. The entire land is in possession of the Company.
 In respect of portion of land for which the Company has still not
 received the award/sale deed, the advance paid to land owners have been
 treated as land. In respect of other portion of land acquired through
 direct negotiations, compensation has been paid at the negotiated
 price. The Company also holds possession of a portion of land for which
 no amount has been paid in absence of receipt of awards.
 
 b) The Company has leased a portion of its land to Bank of Baroda for
 bank premises at Fertilizer agar and Sikka and Gas Authority of India
 Ltd. (GAIL) for establishment of CNG pumping station.
 
 c) Buildings include Rs.0.02 lakh being the value of shares in
 Co-operative Housing Societies.
 
 d) The addition in Leasehold Land of Rs.528 lakhs (Previous year Rs.441
 lakhs) is for Wind Mill Project taken on lease for a period of 20
 years.
 
 e) The Company established Sikka Jetty at its own cost, which is in
 operation since 1987. After due discussion with Gujarat Maritime Board
 (GMB), a consensus was arrived at establishing ownership of jetty with
 GSFC. Thereafter, in terms of resolution passed by GMB, the ownership
 of the jetty at Sikka was transferred to the Company. However, during
 1994, GMB has reversed its earlier decision not supported by resolution
 and contended that the ownership of the jetty rests with GMB.  The
 Company has made representation to the appropriate authority with
 regards to the ownership of the jetty with the Company.
 
 The matter of deciding the status of Jetty was under examination at GMB
 & Government of Gujarat levels since long back.  Various meetings were
 also held and after due diligence on the matter, it is decided by the
 Board of GMB supported by a resolution to assign the status of Captive
 Jetty to sikka jetty and the Company has to sign Captive Jetty
 Agreement with GMB.  The matter is under discussion with GMB
 authorities. Pending finalization of the Captive Jetty Agreement, no
 provision is considered necessary in respect of various claims against
 the Company and counter-claims of the Company (both the amounts not
 determined). At present the Company is in possession of the Jetty and
 continues to be the owner of the Jetty till the Captive Jetty Agreement
 is signed.
 
 Notes :
 
 a) As one of the promoters of the Gujarat Industries Power Company Ltd.
 (GIPCL), the Company has given undertaking to Industrial Development
 Bank of India (IDBI), Power Finance Corporation Ltd. (PFC) and Gujarat
 Industrial Investment Corporation Ltd. (GIIC) for non disposal of and
 non creation of a charge against the Company''s investment in the shares
 of the said company during the pendency of loans given to GIPCL by
 IDBI, PFC and GIIC.
 
 b) As one of the promoters of the Gujarat Chemical Port Terminal
 Company Limited (GCPTCL), the Company has given undertaking to ICICI
 Bank for not to transfer, assign, dispose off, pledge, charge or create
 any lien or in any way encumber company''s existing or future
 shareholding in the GCPTCL in favour of any person so long as money
 remains due by GCPTCL to ICICI Bank or till the project is duly
 completed, whichever is later.
 
 c) The ordinary shares of Tunisian Indian Fertilizers S.A., Tunisia
 (TIFERT) held by the Company and included under Investment have been
 pledged to secure the obligations of TIFERT to their lenders.
 
 d) As per the Security and Exchange Board of India (Issue of Capital
 and Disclosure Requirements) Regulation 2009 (ICDR Regulations),
 the Company has given consent for lock-in of its shareholding of equity
 shares in Gujarat State Petroleum Corporation Ltd. for a period of one
 year or for such other time as may be required from the date of
 allotment of Public issue.
 
 e) As a promoter of Bhavnagar Energy Company Limited (BECL), the
 Company has signed the Sponsors'' Support Agreement (SSA) and as per the
 said Agreement, the promoters collectively shall not, till the final
 settlement date (being the date on which all obligations under the SSA
 have been irrevocably and unconditionally paid and discharged in full
 to the satisfaction of lenders), dispose-off their shareholdings which
 would result in dilution of their shareholding below 51 %.
 
 For basis of valuation refer Note 1 - Significant Accounting Policies.
 
 1. Contingent Liabilities
 
                                                          (Rs.in lakhs) 
 
                                         2011-12               2010-11
 
 Claims against the Company not 
 acknowledgement as debt
 
 Disputed Excise and Customs 
 Duty (net of provision)                   5,326                 4,516
 
 Disputed demand of Sales Tax, 
 Interest on Turnover Tax &
 
 Purchase Tax against which the 
 Company has preferred appeals             3,556                   462
 
 Claims by Statutory Corporations 
 and others not acknowledged
 as debt                                   4,264                 4,111
 
 Disputed gas price/royalty on 
 gas with ONGC                               752                   752
 
 Claims by employees/ex-
 employees 
 pending before courts         Not ascertainable     Not ascertainable
 
 The Industrial Tribunal, 
 Vadodara vide its award 
 dated 27/01/2009 in reference 
 (IT) No.88/1999 directed the 
 Company to pay to the concerned
 employees 50% of the amount 
 calculated by working out 
 double the amount qua the extra 
 hours relating to the overtime 
 done by concerned employees
 i.e. Supervisors and Sr. 
 Supervisors during the period 
 from 01/01/2001 to 31/03/2009. 
 It has further been directed 
 that the aforesaid would be
 effective upto March-2009 and 
 thereafter if the concerned 
 employees i.e. Supervisors and 
 Sr. Supervisors are made to 
 work overtime then in that 
 situation such overtime wages 
 would have to be paid at double 
 the rate. The Industrial Tribunal''s 
 award has been challenged by the
 Company in the Hon''ble High Court 
 of Gujarat and the Hon''ble High Court
 has granted Ad-interim relief 
 thereby stayed the implementation,
 operations and execution of the 
 award dated 27/01/2009. Vide an order
 dated 11/03/2010, the Hon''ble 
 High Court has confirmed the interim
 relief granted earlier till 
 final disposal of the petition.
 
 Aggrieved by the said order, the 
 Grade-II Employees'' Union filed the
 Letters Patent Appeal before the 
 Division Bench of the High Court,
 which has been dismissed by the Div. 
 Bench.
 
 The Company has not provided 
 liability at this juncture as the 
 matter can be proceeded if required,
  on merit at both the High
 
 Court and Supreme Court stages              839                   839
 
 Guarantees
 
 The Company has provided sponsor''s 
 Guarantee towards the borrowing of
 the joint venture company, Tunisian 
 Indian Fertilizers S.A., Tunisia
 (TIFERT) upto 15% of the amount due
 and outstanding                          26,473                18,237
 
 ii) SECONDARY SEGMENT INFORMATION :
 
 The Company operates mainly in Indian market and there are no
 reportable geographical segments.
 
 iii) OTHER DISCLOSURES :
 
 1. The Products and Services covered under each business segment is as
 under :
 
 Fertilizer Products :
 
 Urea, Ammonium Sulphate, Di-ammonium Phosphate, Ammonium Phosphate
 Sulphate, NPK (12:32:16X10:26:26), traded fertilizer products etc.
 
 Industrial Products :
 
 Caprolactam, Nylon-6, Nylon Filament Yarn, Nylon Chips, Melamine,
 Polymer products, traded industrial products etc.
 
 2. Segment revenue, results, assets and liabilities include the
 respective amounts identifiable to each of the segment and amounts
 allocated on reasonable basis.
 
 2. Related Party Transactions
 
 Related Party Disclosures as required by AS-18 Relatec Party
 Disclosures are given below :
 
 1. Relationship :
 
 (a) Associate Company :
 
 Vadodara Enviro Channel Ltd.
 
 (Erstwhile Effluent Channel Project Ltd.)
 
 (b) Joint Venture :
 
 Tunisian Indian Fertilizers, S.A. (TIFERT)
 
 (c) Directors and their relatives :
 
 Shri H. V. Patel
 
 - Managing Director upto 13-07-11
 
 Shri Atanu Chakraborty
 
 - Managing Director w.e.f. 13-07-11
 
 3. Joint Ventures
 
 As on 31st March, 2012, the Company is holding 15% shares in a Joint
 Venture Company, Tunisian Indian Fertilizers, S.A. (TIFERT),
 incorporated in Tunisia and the proportionate share in the Assets,
 Liabilities, Income and Expenditure as per their Financial Year ending
 on 31st December 2011 are given below :
 
 Balance of certain creditors and debtors/advances are subject to
 confirmation/reconciliation and consequential adjustments, if any.
 
 4. Previous Years Figures
 
 The Revised Schedule VI has become effective from 1st April, 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 necessary to correspond with the current year''s
 classification/disclosure. The adoption of Revised Schedule VI for
 previous year figures does not impact recognition and measurement
 principles followed for preparation of financial statements.