1.  Contingent Liabilities not provided for in respect of:
 
 (a) Certain Sales tax matters, mainly on account of pending
 concessional forms (excluding interest): Rs. 902,199 (Rs.1,237,750).
 
 (b) Disputed Income Tax matters: Rs. 982,094 (Rs. 598,443 )
 
 (c) Disputed demand of arrear wages related to ex-workmen amount
 unascertainable.
 
 2.  Estimated amount of contracts remaining to be executed and not
 provided for [Net of advances, unsecured, considered good], on capital
 account are Rs. 17,414,569 [(Net of advance Rs. 47,372,409), (Previous
 Year Rs. 65,845,278 ( Net of advances Rs.  2,34,03,812)]
 
 3.  Secured Loans:
 
 a) Working Capital Loans and non fund based limit utilized amount
 Rs.33,794,937 ( Previous year Rs. 37 784,164 ) are secured by
 hypothecation of stocks & debtors and charge on immovable properties of
 Bhandara Unit.
 
 b) Vehicle Loans are secured by way of hypothecation of motor vehicles
 purchased there against.
 
 c) Rupee Term loan is secured by lien over Investment in 625 Bonds of
 6.85% 22 JN 1411FCL of aggregate value Rs.63,594,358.
 
 4.  a) In the opinion of the Board, current assets, loans and advances
 have a value on realization in the ordinary course of business at least
 equal to the amount at which they are stated.
 
 b) The accounts of Sundry Debtors, Sundry Creditors and Loans and
 advances are, subject to confirmations/reconciliation and adjustments,
 if any. The management does not expect any material difference
 affecting the current year''s financial statements.
 
 5.  The amount of exchange difference (net) credited to the Profit and
 Loss Account is Rs.7,56,162 (Previous year Rs. 1,063,135).
 
 6.  During the year the company has reinstated the value of a
 residential premises at its original cost, which was revalued in an
 earlier year.  It does not have any impact on the profit for the year.
 
 7. a) During the year the Company has bought-back 577,000 Equity
 Shares for a total consideration of Rs. 316,050,861 . Consequently a
 sum of Rs.5,770,000 being an aggregate face value of bought back shares
 has been transferred to Capital Redemption Reserve from the General
 Reserve and the premium of Rs. 310,280,861 on buy back of shares has
 been adjusted against Securities Premium and General Reserve.
 Expenditure of Rs. 1,296,689 for such buy back has been disclosed as an
 exceptional item.
 
 b) During the year, the company has sold entire fixed assetsof its
 Jalna Unit and resulted profit of Rs. 261 lacs has been shown as an
 exceptional item.
 
 8. b) Provision for current tax includes Rs. 160,000 (Rs. 15,000) in 
 respect of wealth Tax.
 
 c) Provision for current tax is net of MAT credit for the year of Rs. 
 NIL (Rs. 64,49,466)
 
 9. Capacity/Production of Finished Goods:
 
 Notes:
 
 1. Licensed Capacity: De licensed
 
 2. The installed capacities have been certified by the management and 
 relied upon by the Auditors without verification, this being a
 technical matter.
 
 * Including production for inter-unit use.
 
 ** Consequent to sale of Jalna unit in March.2011, the installed 
 capcity have been shown as Nil/reduced.
 
 
 10. Disclosures as required by Accounting Standard -18, on Related
 Party Disclosure are given below: List of Related Parties:(with whom
 the Company has entered into transaction during the year in the
 ordinary course of business.) 
 
 (i) Associates 
 
 Rasoi Ltd., JL Morison India Ltd., Pallawi ResourcessLtd., 
 Rasoi Finance Ltd., Noble Trading Co. Ltd.  
 
 (ii) Key Management Personnel 
 
 Mr. R.N. Mody .Chairman 
 
 Mr. Varunn Mody, Director 
 
 Mr. P. K. Choudhary, Managing Director.  
 
 (iii) Relatives of Key Managerial Persons 
 
 Mrs. Sumitra Devi Mody (Wife of Mr R.N .Mody, Chairman) 
 
 11. In respect of properties taken/given by the Company, the lease
 agreements are mutually renewable /cancelable.  
 
 12. Figures of the
 previous year have been regrouped/rearranged/re-classified, wherever
 necessary to confirm to current year''s presentation.
 
 13. Figures in brackets pertains to the financial statements for the
 year ended 31 st March 2010.  Signatures to Schedules 1 to 19 which
 form an integral part of the financial statements.