1) Basis of Preparation
 
 The financial statements have been prepared to comply in all material
 respects with the Notified Accounting Standards pursuant to Companies
 (Accounting Standards) Rules, 2006 (as amended) and the relevant
 provisions of the Companies Act, 1956. The financial statements have
 been prepared under the historical cost convention on an accrual basis
 except in case of assets for which provision for impairment is made and
 revaluation is carried out. The accounting policies have been
 consistently applied by the Company and are consistent with those used
 in the previous year.
 
 2) Use of Estimates
 
 The presentation of financial statements in conformity with the
 Generally Accepted Accounting Principles requires management to make
 estimates and assumptions that affect the reported amount of assets and
 liabilities and disclosure of contingent liabilities on the date of the
 financial statements and the results of operations during the reporting
 period. Difference between the actual results and estimates are
 recognized in the period in which the results are known/ materialized.
 
 3) Revenue Recognition
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 Sale of Goods - Revenue is recognized when the significant risks and
 rewards of ownership of the goods have passed to the buyer and is
 stated net of trade discounts, returns and Sales Tax /VAT and Excise
 Duty.
 
 Contract Manufacturing- Revenue is recognized on an accrual basis in
 accordance with the terms of the relevant agreement.
 
 4) Fixed Assets
 
 i) Fixed assets are stated at cost less accumulated depreciation and
 impairment losses, if any. Cost comprises the purchase price and any
 acountable cost of bringing the asset to its working condition for its
 intended use. Borrowing costs relating to acquisition of fixed assets
 which takes substantial period of time to get ready for its intended
 use are also included to the extent they relate to the period till such
 assets are ready to be put to use.
 
 ii) The purchase cost of Fixed Assets is considered net of Cenvat,
 Excise & Incentives as applicable.
 
 iii) Subsidy is adjusted against the cost of respective asset.
 
 iv) Depreciation is provided on straight line method at the rates and
 in the manner specified in Schedule XIV of the Companies Act, 1956.
 
 v) No write off is made in respect of rights in leasehold land.
 
 5) Impairment of Fixed Assets
 
 The carrying amounts of assets are reviewed at each Balance Sheet date
 as to whether if there is any indication of impairment based on
 internal/external factors. An impairment loss is recognized wherever
 the carrying amount of an asset exceeds its recoverable amount. The
 recoverable amount is the greater of the assets 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 assets over its remaining useful life.
 
 6) Investments
 
 Investments that are readily realizable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long-term investments. Current
 investments are carried at lower of cost and fair value determined on
 an individual investment basis.  Long-term investments are carried at
 cost. However, provision for diminution, if any, in value is made to
 recognize a decline other than temporary in the value of the
 investments.
 
 7) Inventories
 
 Finished Goods, Work in Progress, Raw Materials, Packing Materials,
 Stores & Spare parts are stated at lower of cost and net realizable
 value. However, materials and other items held for use in the
 production of inventories are not written down below cost if the
 finished goods in which they will be incorporated are expected to be
 sold at or above cost.
 
 Cost of Work in Progress and Finished Goods is determined by
 considering direct material cost and appropriate portion of
 manufacturing overheads based on normal operating capacity. Cost of
 Finished Goods includes Excise Duty. Goods-in-transit are valued at
 cost. Stores and Packing materials are valued at cost.
 
 Net realizable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and to make the
 sale.
 
 The purchase cost of Raw Materials is inclusive of direct expenses and
 is net of Cenvat Credit available on input.
 
 8) Cash and Cash Equivalents
 
 Cash and cash equivalents in the cash flow statement comprise cash at
 bank and in hand and shortterm investments with an original maturity of
 three months or less.
 
 9) Excise Duty
 
 Excise duty is accounted on the basis of both payments made in respect
 of goods cleared as also provision made for goods lying in bonded
 warehouse.
 
 10) Employees Benefits
 
 i. Retirement benefits in the form of Provident Fund are defined
 contribution schemes and the contributions are charged to the Profit
 and Loss Account of the year when the contributions to the respective
 funds are due. There are no other obligations other than the
 contribution payable to the respective funds.
 
 ii. The Companys Provident Fund Scheme and ESI Plans are defined
 Contribution Plans and the Companys Contribution paid / payable is
 recognized as expense in the Profit and Loss Account during the year in
 which the employees render the related service.
 
 iii.  Un-availed leave is encashed at the end of the year.
 
 11) Foreign Currency Transactions
 
 Initial Recognition , Foreign currency transactions are recorded in the
 reporting Currency, by applying to the foreign currency amount, the
 exchange rate between the reporting currency and the foreign currency
 at the date of the transaction.  
 
 Conversion
 
 Foreign currency monetary items are reported using the closing rate.
 Non-monetary items which are .  carried in terms of historical cost
 denominated in a foreign currency are reported using the exchange rate
 at the date of the transaction and non-monetary items which are carried
 at fair value or other similar valuation denominated in a foreign
 currency are reported using the exchange rates that existed when the
 values were determined.
 
 Exchange Differences
 
 Exchange differences arising on the settlement of monetary items or on
 reporting such monetary items at rates different from those at which
 they were initially recorded during the year, or reported in previous
 financial statements, are recognized as income or as expenses in the
 year in which they arise.
 
 12) Income Taxes
 
 Tax expense comprises of Current, Deferred and Fringe Benefit Tax.
 Current Income Tax and Fringe Benefit Tax is measured at the amount
 expected to be paid to the tax authorities in accordance with the
 Indian Income Tax Act. Deferred Income taxes reflect the impact of
 current year timing difference between taxable income and accounting
 income for the year and reversal of timing difference of earlier years.
 
 Deferred Income Tax is measured based on the tax rates and the tax laws
 enacted or substantively enacted at the Balance Sheet date. Deferred
 tax assets are recognized only to the extent that there is virtual
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets can be realized. If the Company
 unabsorbed depreciation or carry forward tax losses, deferred tax
 assets are recognized only if there is virtual certainty supported by
 convincing evidence that such deferred tax assets can be realized
 against future taxable profits.
 
 At each Balance Sheet date the Company re-assesses unrecognized
 deferred tax assets, if any. It recognizes unrecognized deferred tax
 assets to the extent that it has become reasonably certain or virtually
 certain, as the case may be, that sufficient future taxable income will
 be available against which such deferred tax assets can be realized.
 
 13) Earnings per Share
 
 Basic Earnings per Share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders (after
 deducting preference dividends and attributable taxes) by the weighted
 average number of equity shares outstanding during the period. The
 weighted average number of equity shares outstanding during the period
 is adjusted for events of bonus issue, bonus element in a rights issue
 to existing shareholders, share split, and reverse share split
 (consolidation of shares), if any.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of Shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares.
 
 14) Provisions
 
 A provision is recognized when the Company has a present 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 a
 reliable estimate can be made. Provisions are not discounted to its
 present value and are determined based on managements 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.
 
 15) Contingencies
 
 Contingent losses arising from claims, litigation, assessments, fines,
 penalties, etc. is provided for when it is probable that a liabilities
 may be incurred and the amount can be reasonable estimated.