a) Method of Accounting
 
 The financial statements are based on historical cost convention on an
 accrual basis (except for revaluation of certain Fixed Assets), in
 accordance with Generally Accepted Accounting Principles (GAAP) and in
 compliance with the accounting standards notified in the Companies
 (Accounting Standards) Rules, 2006 and relevant Provisions of the
 Companies Act, 1956. The Company follows mercantile system of
 accounting and recognizes income and expenditure on accrual basis.
 
 Pursuant to the amendment to the Schedule VI to the Act, effective 1
 April 2011 the Company has adopted revised schedule VI for preparation
 and presentation of the financial statements and have reclassified
 previous year figures to conform to this year''s presentation and
 classification. Except accounting for dividend on investment in
 subsidiaries, the adoption of revised Schedule VI does not impact
 recognition and measurement principles followed for preparation of
 financial statements. However, it significantly impacts presentation
 and disclosures made in the financial statements.
 
 All assets and liabilities have been classified as current or
 non-current as per the Company''s normal operating cycle and other
 criteria set out in the revised schedule VI to the Act, based on the
 nature of work and the time between the acquisition of assets for
 processing and their realization in cash and cash equivalents.
 
 b) Use of Accounting Estimates
 
 The preparation of the financial statements in conformity with GAAP
 requires the management to make estimates and assumptions that affect
 the balances of assets and liabilities and disclosures relating to
 contingent liabilities as at the reporting date of the financial
 statements and amounts of income and expenses during the year of
 account. Examples of such estimates include contract costs expected to
 be incurred to complete construction contracts, provision for doubtful
 debts, income taxes and future obligations under employee retirement
 benefit plans.
 
 Although these estimates are based upon management''s best knowledge of
 current events and actions, actual results could differ from these
 estimates. Any revision to accounting estimates is recognized
 prospectively in the current and future periods.
 
 c) Fixed Assets
 
 Fixed Assets are stated at cost of acquisition/revaluation less
 accumulated depreciation, amortization and impairment losses, if any.
 Cost is inclusive of duties and taxes (net of Convert and other
 Credits), incidental expenses, erection/commissioning expenses and
 interest up to the date the qualifying asset is put to use.
 
 Capital work in Progress comprises advances paid to acquire fixed
 assets and the cost of fixed assets not ready for their intended use as
 at the reporting date of the financial statements.
 
 d) Impairment
 
 The carrying values of assets / cash generating units at each Balance
 Sheet date are reviewed for impairment of assets. If any indication of
 such impairment exists, the recoverable amount of such assets is
 estimated and impairment is recognized if the carrying amount of these
 assets exceeds their recoverable amount. The recoverable amount is
 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.
 
 e) Investments
 
 Current investments are carried at lower of cost and fair value.
 Long-term investments are stated at cost. Provision for diminution in
 value is made to recognise a decline other than temporary in the value
 of such investments.
 
 g) Borrowing Costs:
 
 Borrowing costs that are attributable to the acquisition and
 construction of a qualifying asset are capitalised as a part of the
 cost of such assets till such time the asset is ready for its intended
 use. A qualifying asset is one that requires substantial period of time
 to get ready for its intended use. Other borrowing costs are recognised
 as an expense in the year in which they are incurred.
 
 h) Inventories:
 
 Inventories are valued at lower of cost and net realizable value after
 providing for obsolescence and other anticipated losses, if any. Cost
 of manufactured goods and Work-in-Progress include related overheads
 incurred in bringing the inventories to their present location and
 condition and excise duty paid/payable.
 
 i) Revenue Recognition:
 
 Long-term Contracts
 
 Contract Revenue is recognized by reference to the stage of completion
 of the contract activity at the reporting date of the financial
 statements on the basis of percentage of completion method.
 
 The stage of completion of contracts is measured by reference to the
 proportion that contract costs incurred for work performed up to the
 reporting date bear to the estimated total contract costs for each
 contract.
 
 An expected loss on the construction contract is recognized as an
 expense immediately when it is certain that the total contract costs
 will exceed the total contract revenue.
 
 Price escalation and other claims and/or, variation in the contract
 work are included in contract revenue only when negotiations have
 reached an advanced stage such that it is probable that the customer
 will accept the claim; and the amount that is probable will be accepted
 by the customer can be measured reliably.
 
 Incentive payments, as per customer-specified performance standards,
 are included in contract revenue only when the contract is sufficiently
 advanced and that it is probable that the specified performance
 standards will be met and the amount of the incentive payment can be
 measured reliably.
 
 Others
 
 In the case of other contracts, sales and profits are accounted for on
 the basis of actual work done on the contracts / dispatch of items.
 
 Foreign Currency Transactions
 
 a.  The reporting currency of the Company is Indian Rupee.
 
 b.  Foreign currency transactions are recorded on initial recognition
 in the reporting currency, using the exchange rate at the date of the
 transaction. At each balance sheet date, foreign currency monetary
 items are reported using the closing rate.
 
 c.  Exchange differences that arise on settlement of monetary items or
 on reporting of monetary items at each balance sheet date at the
 closing date are recognized as income or expense in the period in which
 they arise.
 
 j) Employee Benefits
 
 i) Gratuity
 
 The company provides for obligation towards Gratuity, a defined benefit
 plan, covering eligible employees on the basis of an actuarial
 valuation using the projected unit credit method as at the year end. In
 case of funded defined plans, the fair value of the plan assets is
 reduced from the gross obligation under the defined benefit plans to
 recognize the net obligation. Further, for certain employees,
 contributions are made to the fund administered by the management.
 
 ii) Superannuation
 
 Contributions made under a scheme of Life Insurance Corporation of
 India are charged to the profit and loss account.
 
 iii) Leave Encashment
 
 Liability for leave encashment is provided on the basis of actuarial
 valuation using the projected unit credit method as on the Balance
 Sheet date. Actuarial Gain/Losses, if any, are immediately recognized
 in the Profit and Loss account.
 
 iv) Provident Fund
 
 The contribution towards Provident Fund is made to the Statutory
 Authorities/ fund administered by the management and is charged to the
 profit and loss account.
 
 k) Provisions and Contingencies
 
 A provision is recognised when the Company has a present legal or
 constructive obligation as a result of past event and it is probable
 that an outflow of resources will be required to settle the obligation,
 in respect of which 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 balance sheet date.
 These are reviewed at each balance sheet date and adjusted to reflect
 the current best estimates. Contingencies are recorded when it is
 probable that a liability will be incurred, and the amount can be
 reasonably estimated. Contingent liabilities are disclosed by way of a
 note to the accounts.
 
 I) Income-Tax
 
 Tax Expenses for the year comprises both current tax and deferred tax.
 Current tax is determined as the amount of tax payable in respect of
 taxable income for the year. Deferred tax is recognised on timing
 differences, being the difference between taxable income and accounting
 income that originate in one period and are capable of reversal in one
 or more subsequent periods and quantified using the tax rates and law
 enacted or substantively enacted by the reporting date. Where there is
 an unabsorbed depreciation or carry forward loss, deferred tax assets
 are recognised only if there is virtual certainty of realisation of
 such assets. Other deferred tax assets are recognised only to the
 extent there is reasonable certainty of realisation in future. Deferred
 tax assets are reviewed for the appropriateness of their respective
 carrying values at each balance sheet date.
 
 m) Earnings Per Share
 
 Basic earnings per share is calculated by dividing the net earnings
 after tax for the year attributable to equity shareholders by the
 weighted average number of equity shares outstanding during the year.
 
 For calculating diluted earnings per share, the number of shares
 comprises the weighted average shares considered for deriving basic
 earnings per share, and also the weighted average number of shares, if
 any which would have been used in the conversion of all dilutive
 potential equity shares. The number of shares and potentially dilutive
 equity shares are adjusted for the bonus shares and the sub-division of
 shares, if any.
 
 n) Contingent Liabilities
 
 Contingent liabilities are determined on the basis of available
 information and are disclosed by way of a note to the accounts.