a) Basis of Accounting
 
 The financial statements have been prepared to comply in all material
 aspects in respect with the Notified accounting standard by 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.
 The accounting policies have been consistently applied by the Company
 and are consistent with those used in the previous year.
 
 b) Use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period end. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 c) Fixed Assets
 
 Fixed assets are stated at cost, less accumulated depreciation and
 impairment losses, if any. Cost comprises the purchase price and any
 attributable cost of bringing the asset to its working condition for
 its intended use.
 
 d) Impairment
 
 i) The carrying amounts of assets are reviewed at each balance sheet
 date if there is any indication of impairment based on internal/
 external factors. An impairment loss is recognised wherever the
 carrying amount of an asset exceeds its recoverable amount.  The
 recoverable amount is the greater of the asset''s net selling price and
 value in use. In assessing value in use, the estimated future cash
 flows are discounted to their present value, using a pre-tax discount
 rate that reflects current market assessment of the time value of money
 and risks specific to the assets.
 
 ii) After impairment, depreciation/amortisation is provided on the
 revised carrying amount of the asset over its remaining useful life.
 
 e) Depreciation
 
 Depreciation is provided on Straight Line Method at the rates
 prescribed in Schedule XIV of the Companies Act, 1956 or the rates
 determined based on the technically assessed useful lives of the
 respective assets, whichever is higher, except for Plant & Machinery
 wherein depreciation is provided on straight line basis at the rates
 prescribed in Schedule XIV, of the Companies Act. 1956, as per details
 given below:
 
 * As per schedule XIV of Companies Act, 1956
 
 Fixed Assets costing below Rs5,000 are depreciated @ 100% p.a.
 
 f) Intangibles
 
 Software: Cost of software are capitalised and amortised on a straight
 line basis over their estimated useful life of 5 years.
 
 Store Opening Fees: Fees paid to franchisor for store opening are
 capitalised and amortised on a straight line basis over 5 years.
 
 g) Expenditure during Construction Period
 
 Expenditure directly relating to construction activity of New
 Commissary / Outlets is capitalised (net of income, if any). Indirect
 expenditure incurred during construction period is capitalised as part
 of the indirect construction cost to the extent to which the
 expenditure is indirectly related to construction or is incidental
 thereto. Other indirect expenditure incurred during the construction
 period which is not related to construction activity nor is incidental
 thereto is charged to Profit & Loss Account.
 
 h) Borrowing Costs
 
 Borrowing costs that are attributable to the acquisition or
 construction of qualifying assets are capitalised as part of the cost
 of such assets. A qualifying asset is one that necessarily takes
 substantial period of time to get ready for intended use. All other
 borrowing costs are charged to revenue.
 
 i) Leases
 
 Where the Company is a lessee
 
 Assets acquired under hire purchase, which effectively transfer to the
 Company substantially all the risks and benefits incidental to the
 ownership of hired assets, are capitalised at the lower of fair value
 and present value of equated monthly installments at the inception of
 the term of hire and disclosed as hired assets. Equated monthly
 installments are apportioned between the hire purchase charges and
 reduction of the liability so as to achieve a constant rate of interest
 on the remaining balance of the liability. Hire purchase charges are
 charged directly against income.
 
 Leases, where the lessor effectively retains substantially all risks
 and benefits of ownership of the leased item, are classified as
 operating leases. Operating lease payments are recognised as an expense
 in the Profit & Loss Account on a straight line basis over the lease
 term.
 
 Net realisable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and to make the
 sale.
 
 k) Revenue Recognition
 
 Revenue is recognised 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 from the sale of goods is recognised upon passage of title to
 the customers which coincides with their delivery.
 
 Interest
 
 Revenue is recognised on a time proportion basis taking into account
 the amount outstanding and the rate applicable.
 
 Dividends
 
 Revenue is recognised when the right to receive the payment is
 established by the Balance Sheet date.
 
 Franchisee Fee
 
 Revenue is recognised on accrual basis in accordance with the terms of
 the relevant agreement, if there is significant certainty as to its
 collectability.
 
 I) Foreign Currency Translation
 
 Foreign currency transactions
 
 (i) 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 on the date of the
 transaction.
 
 (ii) 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.
 
 (iii)Exchange Differences
 
 Exchange differences arising on the settlement of monetary items, or on
 reporting such monetary items of company at rates different from those
 at which they were initially recorded during the year, or reported in
 previous financial statements, are recognised as income or as expenses
 in the year in which they arise.
 
 m) Retirement and other employment Benefits
 
 (i) Gratuity liability is defined benefit obligation and is provided
 for on the basis of an actuarial valuation on projected unit credit
 method made at the end of each financial year. The liability so
 provided is unfunded.
 
 (ii) The Provident Fund (administered by a Trust) is a defined benefit
 scheme whereby the Company deposits an amount determined as a fixed
 percentage of basic pay to the fund every month. The benefit vests upon
 commencement of employment.  The interest credited to the accounts of
 the employees is adjusted on an annual basis to confirm to the interest
 rate declared by the government for the Employees Provident Fund. The
 Guidance Note on implementing AS-15, Employee Benefits (revised 2005)
 states that provident funds set up by employers, which requires
 interest shortfall to be met by the employer, needs to be treated as
 defined benefit plan. Pending the issuance of the Guidance Note from
 the Actuarial Society of India, the Company''s actuary has expressed his
 inability to reliably measure the provident fund liability. There is no
 deficit in the fund at the year end.
 
 (iii) Short term compensated absences are provided for based on
 estimates. Long term compensated absences are provided for based on
 actuarial valuation carried by an actuary as at the end of the year.
 
 (iv) Actuarial gains/losses are immediately taken to Profit & Loss
 Account and are not deferred.
 
 n) Income Tax
 
 Tax expense comprises of current & deferred tax.
 
 Current income tax is measured at the amount expected to be paid to the
 tax authorities in accordance with the Indian Income Tax Act, 1961.
 Deferred income taxes reflects the impact of current year timing
 differences between taxable income and accounting income for the year
 and reversal of timing differences of earlieryears.
 
 Deferred 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 recognised only to the extent that there is reasonable
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets can be realised. If the Company
 has carry forward of unabsorbed depreciation and tax losses, deferred
 tax assets are recognised only if there is virtual certainty supported
 by convincing evidence that such deferred tax assets can be realised
 against future taxable profits.
 
 Unrecognised deferred tax assets of earlier years are reassessed and
 recognised 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
 realised.
 
 MAT credit is recognised as an asset only when and to the extent there
 is convincing evidence that the company will pay normal income tax
 during the specified period. In the year in which the Minimum
 Alternative Tax (MAT) credit becomes eligible to be recognised as an
 asset in accordance with the recommendations contained in Guidance Note
 issued by the Institute of Chartered Accountants of India, the said
 asset is created by way of a credit to the Profit & Loss Account and
 shown as MAT Credit Entitlement. The Company reviews the same at each
 balance sheet date and writes down the carrying amount of MAT Credit
 Entitlement to the extent there is no longer convincing evidence to the
 effect that Company will pay normal income tax during the specified
 period
 
 o) Earnings PerShare
 
 Basic earnings per share is calculated by dividing the net profit or
 loss for the year attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the year.
 
 For the purpose of calculating diluted earning per share, the net
 profit or loss for the year attributable to equity shareholders and the
 weighted average number of shares outstanding during the year are
 adjusted for the effects of all dilutive potential equity shares.
 
 p) Provisions
 
 A provision is recognised when an enterprise 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 best management 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 management estimates.
 
 q) Segment Reporting Policies
 
 The Company''s operating businesses are organised and managed separately
 accoRiding to the nature of products and services provided, with each
 segment representing a strategic business unit that offers different
 products and serves different markets. The analysis of geographical
 segments is based on geographical location of the customers.
 
 r) Cash Flow Statement
 
 Cash flows are reported using indirect method, whereby profit before
 tax is adjusted for the effects transactions of a non-cash nature and
 any deferrals or accruals of past or future cash receipts or payments.
 The cash flows from regular revenue generating, financing and investing
 activities of the Company are segregated. Cash and cash equivalents in
 the cash flow comprise cash at bank, cash/cheques in hand and
 short-term investments with an original maturity of three months
 orless.
 
 s) Employee Stock Compensation Cost
 
 Measurement and disclosure of the employee share- based payment plans
 is done in accordance with SEBI (Employee Stock Option Scheme and
 Employee Stock Purchase Scheme) Guidelines, 1999 and the Guidance Note
 on Accounting for Employee Share-based Payments, issued by the
 Institute of Chartered Accountants of India. The Company measures
 compensation cost relating to employee stock options using the
 intrinsic value method.
 
 t) Investments
 
 Investments that are readily realisable 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 in value is made to recognise a
 decline other than temporary in the value of the investments.