1.  The restructuring programme declared by the Company in the year
 2008-2009 for shifting its factory from Rudrapur, Uttaranchal to
 Greater Noida, Uttar Pradesh had been completed during the previous
 year and all expenses related / incidental to such shifting have been
 included under Exceptional Items in the financial statements.
 
 2.  Contingent liabilities :
 
                                                         (Rs. Lakhs) 
 
                                       Current year    Previous year
 
 Claims against the Company not 
 acknowledged as debts
 
 - Various income-tax matters for 
 different assessment years pending
 before various authorities               2,458.19       1,890.27
 
 - Various excise matters for different 
 years pending before various
 authorities                              2,618.01       2,446.78
 
 - Various service tax matters for 
 different years pending before
 various authorities                        675.80         176.58
 
 - Various sales tax matters pending 
 before various authorities                 864.06*        233.94
 
 - Other matters                             30.96          43.75
 
 *includes Rs. 50.47 lakhs for the years 1999-2000 and 2000-2001, for
 which the Honorable High Court of Kerala has accepted the plea of the
 company and instructed the Assessment authorities to revise the
 assessment. The above said order of the High Court has been submitted
 to the Assessing Authority and the revised order from the Assessing
 Authority is awaited.
 
 Further, the Company has also received demand notices amounting to Rs.
 113.30 lakhs on similar matter pertaining to subsequent years.  The
 Company has filed above mentioned favorable order from the High Court
 of Kerala to the Assessing Authority in respect of these demand
 notices, which is pending with the Assessing Authority.
 
 3.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for, net of advances, Rs 487.64 lakhs
 (Previous year Rs. 316.19 lakhs).
 
 4.  Disclosure in respect of employee benefits under Accounting
 Standard (AS) – 15 “Employee Benefits” prescribed by the Companies
 (Accounting Standards) Rules, 2006:
 
 a) Amount of Rs. 151.38 lakhs (Previous year Rs. 121.08 lakhs)
 pertaining to employers contribution to provident fund, pension fund,
 employees state insurance fund and superannuation fund is recognised
 as an expense and included in Personnel Cost in Schedule 8.
 
 b) The following tables sets out the status of the gratuity plan as
 required under the Standard:
 
 (i) Changes in the present value of defined benefit obligation
 representing reconciliation of opening and closing balances thereof:
 
 The estimates of future salary increases, considered in actuarial
 valuation, take account of inflation, seniority, promotion and other
 relevant factors such as supply and demand factors in the employment
 market.
 
 The discount rate is based on the prevailing market yields of
 Government Bonds as at the balance sheet date for the estimated term of
 the obligations.  
 
 (vii) Investment details of plan assets
 
 The gratuity trust has taken up a group policy with Life Insurance
 Corporation of India.  
 
 (c) Provident Fund
 
 The Companys actuary has confirmed that as at 31 March 2011, the
 Company does not have any liability on account of interest shortfall
 between the return from the investments of the provident fund trust and
 the notified interest rate.
 
 The actuary, however, has expressed an inability to provide the
 required information prescribed by AS-15 such as changes in present
 value of defined benefit obligation, fair value of plan assets,
 actuarial gain/loss recognised in the profit and loss account etc.
 Accordingly the required disclosures have not been made.
 
 5.  Out of the total leasehold land measuring 19.48 acres at Rudrapur,
 a lease deed had been executed for 17.92 acres.  In respect of the
 balance leasehold land of 1.56 acres, requisite documents are yet to be
 executed.
 
 6.  The net exchange difference amounting to a net gain of Rs.  34.35
 lakhs has been included in miscellaneous income (Previous year net gain
 of Rs.22.58 lakhs).
 
 7.  Segment information
 
 Primary segment:
 
 The primary reportable segment for the Company is geographical segment
 by location of customers. The Companys geographical segment comprises
 domestic customers and overseas customers.
 
 The primary segments have been identified in line with AS 17, taking
 into account the risks and return, organisation structure and internal
 reporting system.
 
 Segment revenue comprises income from sales and services which are
 directly identifiable to the individual segment. Certain non-operating
 incomes such as liabilities written back and income from export
 benefits do not form part of segment revenue and are included under
 other non-operating income. Direct expenses in relation to segments
 is categorised based on items that are individually identifiable to
 that segment, while the remaining costs are categorised to the segment
 on a reasonable basis. Certain expenses such as administrative expenses
 which form a significant component of total expenses are not
 specifically allocable to specific segments. Accordingly these expenses
 are separately disclosed as “unallocated” and directly charged against
 total income.
 
 Segment assets include operating assets used by a segment that are
 directly identifiable to that segment and consist principally of
 debtors and inventory. Segment liabilities include operating
 liabilities that are directly identifiable to that segment and consist
 principally of accrued liabilities and advances from customers. Assets
 and liabilities of the Company which cannot be identified to any of the
 reportable segments have not been allocated as the same are used for
 both segments.
 
 Secondary segment:
 
 As the Companys business activity falls within a single business
 segment viz. “power products and related parts”, the secondary business
 segment disclosure requirements of AS 17 are not applicable to the
 Company.
 
 8.  Disclosure in respect of operating leases under Accounting
 Standard (AS) - 19 “Leases”
 
 a) General description of the Companys operating lease arrangements:
 
 The Company enters into operating lease arrangements for leasing area
 offices, residential premises for its employees and vehicles. Some of
 the significant terms and conditions of the arrangements are:
 
 - certain agreements for premises may generally be terminated by the
 lessee or either party by serving one to three months notice or by
 paying the notice period rent in lieu thereof.
 
 - other agreements for premises cannot be terminated by either party
 before the expiry of one year.
 
 - agreements for leasing of vehicles can generally be terminated early
 by payment of nominal fees.
 
 - the lease arrangements are generally renewable on the expiry of lease
 period subject to mutual agreement.
 
 - the Company shall not sublet, assign or part with the possession of
 the premises without prior written consent of the lessor.
 
 b) Lease rent charged to the profit and loss account Rs.157.81 lakhs
 (Previous year Rs 149.37 lakhs).
 
 * Net of expected reimbursement of Rs 1.71 lakhs (Previous year Rs 4.55
 lakhs) from suppliers of traded goods, recognized and included in
 
 loans and advances in accordance with the requirements of Accounting
 Standard –-29 Provisions, Contingent Liabilities and Contingent Assets.
 
 The warranty provision is expected to be paid within the normal
 warranty period of one year.
 
 9.  The figures for the previous year have been regrouped / recasted
 wherever necessary.