2010-11      2009-10
                                            Rs Lacs     Rs. Lacs
 
 1 CONTINGENT LIABILITIES:
 
 a) Guarantees given by the 
 Banks                                     13649.99     15483.74
 
 b) Claims against the company 
 not acknowledged as debts                   120.59       121.03
 
 c) Additional Sales Tax demand 
 excluding Rs. 902.26 Lacs (Previous 
 year Rs. 905.24 Lacs) recoverable
 from customers for the years 1980-81 
 to 2009-10 under appeal.                    506.32       614.24
 
 d) Demands raised by Excise 
 department excluding interest, 
 if any, leviable thereon.                  1877.10      2063.67
 
 e) Additional Service Tax demand 
 excluding those recoverable from
 customers for the Year 2004-05
 under appeal.                              3488.18      2150.90
 
 
 f) During the year the Company has received notice U/S 148 of Income
 Tax Act,1961 for reopening of assessment for the year ended 31 st March
 2004, in respect of its investments made in long term capital gains
 bonds. No demand of income tax has been received in this matter till
 date.
 
 2 Expenses on Research & Development during the year included under
 various heads, amounts to ` 203.55 Lacs (Previous year ` 196.49 Lacs).
 
 3 Confirmations have not been received from some of the Debtors,
 Creditors and Depositors.
 
 1 BUSINESS SEGMENTS
 
 The Company has considered “business segment” as the primary reporting
 segment for disclosure. The products included in each of the reported
 domestic business segments are as follows:
 
 a.  Construction contracts including water supply schemes, pipes supply
 & laying projects
 
 b.  Others include Railway Sleepers, Air Rifles and Other Miscellaneous
 items.
 
 Segment revenue relating to each of the above domestic business
 segments includes income from services provided, where applicable. The
 above business segments have been identified considering:
 
 1.  The nature of products & service
 
 2.  The differing risks & returns
 
 2 There are no inter segment sales.
 
 3 Since the company does not have any significant business outside
 India there are no reportable geographic segments.
 
 4 Related party disclosures, as required by AS 18
 
 A.  Names of Related Parties & Nature of Relationship
 
 i) Ratanchand Investment 
 Pvt. Ltd.                       : Ultimate Holding Company
 
 ii) IHP Finvest Ltd             : Promoter Holding Company
                                   (Holding 65.92% in Equity)
 
 iii) Mr.Rajas R. Doshi          : Key Management Personnel
 (Chairman & Managing Director)
 
 iv) Mrs.Jyoti R. Doshi 
 (Director)                      : Relatives of Key Management
                                   Personnel
 Mr.Aditya R. Doshi
 
 Mr.Mayur R. Doshi (Executive) 
 
 v) Mobile Systems India Pvt. 
 Ltd.                            : Companies in which control exists 
                                   directly/ indirectly
 
 Raj Jyoti Trading & Investment 
 Pvt. Ltd.  
 
 vi) Walchand Hirachand
 Foundation                      : Other Related Party
 Ratanchand Hirachand 
 Foundation
 (Formed U/s 25 of the 
 Companies Act, 1956)
 
 5 The Company has entered into Joint Ventures for executing various
 works. The details are as under:
 
 I M/s.Koya & Company Construction Pvt. Ltd.,(JV), Hyderabad
 
 Augmentation & Water Supply to Hyderabad Metropolitan area from River
 Krishna through SLB (Madhava Reddy Canal) for the PACKAGE-1,
 Manufacturing, supplying, lowering, testing and commissioning of 2200
 diameter MS Pumping Main with in lining and out-coating with Cement
 Mortar from WTP at Kodandpur to the Clear Water Reservoir at
 Nasaralapally.
 
 II M/s.Bhoorathnam Construction Co. (P) Ltd.
 
 Augmentation & Water Supply to Hyderabad Metropolitan area from River
 Krishna through SLB (Madhava Reddy Canal) for PACKAGE-II,
 Manufacturing, supplying, lowering, testing and commissioning of 2200mm
 diameter MS Pumping Main with in-lining and out-coating with Cement
 Mortar from Clear Water Reservoir at Godakondla along Nagarjunasagar -
 Hyderabad Road from Km 82/2 to Km 59/6.
 
 III M/s. The Indian Hume Pipe Co. Ltd.
 
 Combined water supply scheme to Bellampally and Mandamarry under HUDCO
 Phase-III consisting of (1) Construction of 9.00 m dia intake well cum
 pump house 1 No (2) 600mm dia D.I.D/F Connecting main (3) 6 Nos. of
 3.00 M dia infiltration wells (4) 600mm dia RCC NP3 class pipes
 infiltration gallery 250m long (5) Providing 500mm dia PSC field test
 pressure of 10 KSC main for common sump at Municipal office (6)
 Providing 500mm dia PSC field test pressure of 12 KSC pumping main from
 common sump at Municipal office Mandamarry to Junction Point in
 Bellampally (Package I)
 
 V M/s.KCCPL-IHP-BRC-TAIPPL-KBL
 
 Construction of Pump House, Hydro Mechanical Works and Electro
 Mechanical works of Guthpa Lift Irrigation Scheme, to Lift 540 cusecs
 of water from river Godavari at Ummeda (V), Nandipet (M) and to deliver
 into Nizam Sagar Project Main Canal and D/74 on EPC Turnkey Basis
 System.
 
 VII M/s. The Indian Hume Pipe Co. Ltd.
 
 Construction and commissioning on turnkey basis including one year
 maintenance of Soganur Lift Irrigation M I Scheme on right bank of
 Tungabadra river with 2 stage pumping including construction of storage
 tank near Chinnakohiliki (V) Yemmiganur (M) Kurnool District.
 
 VIII M/s. The Indian Hume Pipe Co. Ltd.
 Construction and commissioning on turnkey basis including one year 
 maintenance of Pulchintha Lift Irrigation M I Scheme on right bank of
 Tungabadra river with 2 stage pumping including construction of storage 
 tank near Pulchintha (V) Nandavaram (M) Kurnool District.
 
 IX M/s.TAIPPL-IHP-KCCPL-BRCPL (JV)
 
 Krishna Drinking Water Supply Project Phase II - Manufacturing,
 Supplying, Delivering, lowering, laying, jointing, testing and
 commissioning of 2375mm dia MS pumping main with cement mortar factory
 inlining and out-coating from CWR at Nasarlapally to CWR at Goddkondla
 (along Nagarjunasagar-Hyderabad road from 82/2 Km to 59/6 Km including
 manning and operation for a period of 24 months (Package II).
 
 X M/s.IHP-KCCPL-BRCPL-TAIPPL (JV)
 Manufacturing, Supplying, delivering, lowering, laying, jointing, 
 testing and commissioning of 2200mm dia MS Gravity main with cement
 mortar factory inlining and out-coating from MBT at Gungal to TBR at 
 Sahebnagar (along Nagarjunasagar-Hyderabad road from Km 40/2 to
 10/2 Km including manning and operation for a period of 24 months 
 (Package IV).
 
 XI M/s.Shradha IHP Joint Venture
 
 Padmalaya Lift Irrigation Scheme: Designing, planning, construction of
 Dam at Padmalaya-II, Taluka Erandol, Dist. Jalgaon alongwith or
 appurtenant works & designing, planning and construction of intake
 well, connecting pipeline, jackwell pumphouse, sumpwell, manufacturing
 and installation of pumping machinery, necessary electrical
 accessories, electrical service station including rising main and
 commissioning it for shree Padmalaya Sinchan Yojana of Taluka Erandole,
 Dist. Jalgaon on Turnkey basis.
 
 XIII M/s.BRCPL IHP Vishwa Joint Ventures
 
 Manufacturing, supply, lowering, laying, jointing, testing and
 commissioning of Duplicate South intercepting Sewer Main (Dup-Sis) with
 2000 mm dia RCC NP4 class pipes using sulphate resistance, cement from
 Saroornagar Nalah I & D site to proposed STP at Nagole along river Musi
 (Dup SIS Main-Package 3)
 
 XIV M/s.IHP BRCPL Vishwa (JV)
 Manufacturing, supply, lowering, laying, jointing, testing and commissioning 
 of Duplicate South intercepting Sewer Main (Dup-SIS) with 1800
 mm dia RCC NP4 class pipes using sulphate resistant cement from Chaderghat 
 bridge to Saroornagar Nalah I & D site along river Musi (Dup
 SIS Main-Package 2)
 
 XV M/s. The Indian Hume Pipe Co. Ltd.
 
 Manufacturing, supply, lowering, laying, jointing, testing and
 commissioning of 900mm dia Mild Steel Pumping Main with inlining and
 out- coating with cement mortar from Town Service Reservoir to Kommadi
 Junction under Greater Vishakhapatnam Water Supply Improvement Scheme.
 
 XVI M/s. The Indian Hume Pipe Co. Ltd., JV with Ch.V.V.Subba Rao
 Augmentation of drinking water supply to Gajuwaka Area in Vishakhapatnam 
 under submission on Urban Infrastructure and Governance under
 Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
 
 XVII NCC-MEIL-IHP (JV)
 
 Construction of Jack well, providing MS Raw Water conduit to earthern
 bund of Dharmasagar Reservoir by Tunnelling and Jacking, MS/ NBWSC Raw
 Water Gravity Mains, DI/BWSC Pumping Mains and Railway Crossing
 arrangements, Additional off take arrangements on Kaktiya Canal, Raw
 Water Pump House and Clear Water Pump House alongwith Pump sets, Water
 Treatment Plants at three locations, Raw Water Sumps and Clear Water
 Sumps, RCC ELSR’s and DI & HDPE distribution lines in Warangal
 Municipal Corporation.
 
 XVIII IHP-Vishva-MCC (JV)
 Rehabilitation, strengthening and improvement of Sewerage System in old 
 city area on South of Musi in S11 catchment Zone II by laying mains, 
 sub-mains, laterals and transfer of house service connections including 
 manufacturing, supply of 150mm/200mm/300mm dia SWG pipes and 
 50mm/400mm/450mm/500mm/600mm/700mm/800mm/900mm/ 1100mm/ 1200mm/1400mm 
 dia RCC NP3 pipes with SR cement including lowering, laying, jointing, 
 testing and commissioning of sewers or turnkey bails under JNNURM 
 Package II.
 
 XIX IHP-MEIL-KCCPL-BRCPL-TAIPPL (JV)
 
 Manufacturing, supplying, lowering, laying, jointing, testing and
 commissioning of 2200mm dia MS Pumping Main with cement mortar factory
 inlining and out-coating and other appurtenances from proposed intake
 well near Old Madhavaram on foreshore of Somasila Reservoir to the
 proposed sump at Kanumalonipalli (On Kadappa-Rajampet Highway)
 including Manning & Operation for a period of 24 months (defect
 liability period) - Package I.
 
 XX IHP-FPL (JV)
 Survey, Investigation, Designs, Drawings, Estimation, Construction and 
 commissioning on Turnkey basis including maintenance for 15 years
 (including 2 years liability period) of Pulikanuma LI Scheme on right 
 bank of Tungabhadra river near Satanur (V)Kosigi (M) in Kurnool district
 with two stage pumping consisting of (a) construction of Approach Channel 
 (b)Jack-well cum Pump house including Manufacture, supply,erection of pumps, 
 motors, panels, soft Starters, capacitors, E.O.T & H.O.T Cranes and all other 
 Electrical Equipment (c)33/11 KV Sub Stations (d)H T Power Lines (e) 
 Pressure Mains (f) Cisterns (g)Reservoir /Storage tank of capacity 1.232 
 TMC including Head Regulator and Surplus arrangements (h)Approach and 
 Link Canal to join the T.B.P.L.L.C main canal @KM 270.00etc. Complete.
 
 6 Current Liabilities include ` 1.99 Lacs towards unclaimed amounts of
 preference shares redeemed and Rs. 0.55 Lacs towards unclaimed proceeds
 from sale of fractional shares issued pursuant to the bonus issue made
 by the Company in the year 2005-06.
 
 7 Figures for Previous Year have been regrouped, wherever necessary.