1.Contingent Liabilities                  2011-2012       2010-2011
 
 a) Bank Guarantee                        408,033.00      431,033.00
 
 2) Expenditure in Foreign Currency
 Raw Materials , Consumables & Traded 
 Goods                                 10,778,396.08   10,917,992.15
                                      
 
 Foreign Travel                         3,123,376.00    1,023,450.00
 
 Advance Payment                           78,353.00    1,069,492.00
 
 Exhibition Expenses                      823,770.00      258,473.00
 
 Training Expenses                                 -      249,049.41
 
 Capital Goods                            789,815.00   11,814,965.61
 
 3) Earnings in Foreign Currency
 
 Export of goods on FOB/CIF basis      11,558,317.00   12,433,805.70
 
 4) Director''s remuneration
 
 Salary (Including Commission)          2,634,000.00    2,284,300.00
 
 PF                                        28,080.00       28,080.00
 
 5) Payments made to Auditors :
 
 (Including Tax Deducted at source and Tax Audit Fee and other services)
 
 6) The balance of Sundry Creditors, Debtors and Loans & advances are
 subject to confirmation.
 
 7) The Company has been accounting liability of excise duty on finished
 products lying in bonded godown as and when clearance are made. The
 liability in respect of such in bonded godown goods lying at the close
 of the current year will be quantified only on the date of clearance
 and has not been provided in the books of accounts and hence not
 included in the valuation of inventory of such goods. However,
 non-provision of excise duty as above has no effect on the profit and
 the net current assets.
 
 8) Particulars on small scale industries have been furnished to the
 extent such parties have been identified on the basis of information
 available with the company.The small scale Industries to whom the
 company owes any sum which is outstanding more than 30 days as on 31st
 March 2012: 1.Machine Elements 2.Indragith Industries 3.U Tech Rubber
 Products Pvt Ltd
 
 9) In accordance with AS -22 ''Accounts for Taxes on Income'' issued by
 ICAI, the Company has accounted for deferred tax during the year. The
 Company has significant amount of carried forward losses and unabsorbed
 depreciation under Income Tax Act. However, as a matter of prudence,
 Deferred Taxes Assets have been been recognised only to the the extent
 of Deferred tax Liability. The component of Deferred Tax Assets to the
 extent of is recognised and Deferred Tax Liability on 31st March 2012
 are as follows :
 
 10) Sundry Creditors under Current liabilities includes Rs.
 1,36,334.25- (PY : Rs. 2,88,367.17-) due to SSI units.
 
 11) Company has invested during the previous year in HITTCO TOOLS
 (THAILAND) Limited and amount is still pending for allotment.
 
 12) Pursuant to the Notification No.447(E) dated February 28,2011 and
 Notification No.653(E) dated March 31,2011, Issued by the Ministry of
 Corporate Affairs, the Company has started preparing its financial
 statements as per revised Schedule VI to the Companies Act ,1956 W.e.f
 April, 2011.Accordingly , the previous periods /years have also been
 regrouped/rearranged, wherever required to align the financial
 statements to the revised format.