COMPANY INFORMATION
 
 Hiran Orgochem Limited (the ''Company'') is a public limited company and
 is listed on the Bombay Stock Exchange (BSE). The company is a leading
 integrated manufacturer of active pharmaceutical ingredients. The
 Company is manufacturing the Quinolones group of API''s with its
 principal products comprising Ciprofloxacin, Ofloxacin, Levofloxacin
 and Enrofloxacin.
 
 1 The Board of Directors at its board meeting held on 27th May 2011 had
 approved extension of Accounting year of the Company to end on 30th
 June 2011. Thus the figures of the previous accounting period relates
 to 15 months (1st April 2010 to 30th June 2011), are not comparable
 with current year figures related to 12 months (1st July 2011 to 30th
 June 2012).
 
 (i) Rights, preferences and restrictions in respect of equity shares
 and GDRs issued by the Company
 
 (a) The Equity shareholders are entitled to receive dividends as and
 when declared; a right to vote in proportion to holding etc. and their
 rights, preferences and restrictions are governed by / in terms of
 their issue under the provisions of the Companies Act, 1956.
 
 (b) The rights, preferences and restrictions of the GDR holders are
 governed by the terms of their issue, and the provisions of the
 Companies Act 1956. Each GDR holder is entitled to receive 30 equity
 shares of Rs.  10 each, per GDR, and their voting rights can be
 exercised through the Depository.
 
 2 CONTINGENT LIABILITIES                              (Rs. In Lacs)
 
                                                 30.06.2012  30.06.2011
 
 Claims against the company not acknowledged 
 as debts
 
 (i) Sales Tax                                      143.89      143.89
 
 (ii) Excise Duty                                    60.31       68.02
 
 (iii) Income Tax                                    34.94        4.80
 
 Total                                              239.14      216.71
 
 3 In view of substantial business loss and no virtual certainty to
 adjust losses against future profit, Deferred Tax Asset has not been
 considered for the year.
 
 4 The revised schedule VI has become effective from 1.4.2011 for the
 preparation of financial statements. This has significant impact on the
 preparation and disclosure of financial statements. Previous year
 figures have been regrouped/reclassified wherever necessary to
 correspond with the current year classifications / disclosures.