a) Fixed assets
 
 Fixed assets are stated at cost, less accumulated depreciation,
 amortisation 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. 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.
 
 c) 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 recognized wherever the
 carrying amount of an asset exceed 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 that reflects current market assessments of the time
 value of money and risks specific to the assets.
 
 ii.  After impairment, depreciation is provided on the revised carrying
 amount of the assets over its remaining useful life.
 
 iii. A previously recognized impairment loss is increased or reversed
 depending on changes in circumstances. However the carrying value after
 reversal is not increased beyond the carrying value that would have
 prevailed by charging usual depreciation if there was no impairment.
 
 d) Operating Leases
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term, are classified as
 operating leases. Lease payments on operating leases are recognized as
 expense in the Profit and Loss account on a straight-line basis, over
 the lease term.
 
 e) Government grants and subsidies
 
 Grants and subsidies from the government are recognized when there is
 reasonable assurance that the grant/subsidy will be received and all
 attaching conditions will be complied with.
 
 When the grant or subsidy relates to an expense item, it is recognized
 as income over the periods necessary to match them on a systematic
 basis to the costs, which it is intended to compensate. Where the grant
 or subsidy relates to an asset, its value is deducted from the gross
 value in arriving at the carrying amount of the related asset.
 Government grant in the nature of promoters'' contribution is credited
 to the investment subsidy reserve.
 
 f) Investment
 
 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.
 
 g) Inventories
 
 Inventories of raw materials, packing materials, work-in-progress,
 finished goods, stores and consumables items are valued at cost or net
 realizable value, whichever is lower. However, materials and other
 items held for use in the production of inventories are not written
 down below cost if the finished products in which they will be
 incorporated are expected to be sold at or above cost.
 
 Cost is ascertained on First-in-First-out (''FIFO'') basis and includes
 all applicable costs incurred in bringing goods to their present
 location and condition. Cost of work in progress, manufactured packing
 material and finished goods includes materials and all applicable
 manufacturing overheads. The Company accrues for excise duty liability
 in respect of manufactured finished goods/ intermediary inventories
 lying in the factory.
 
 Net realisable value is the estimated selling price in the ordinary
 course of business, less estimated cost of completion and estimated
 cost necessary to make the sale.
 
 h) 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 recognised when the significant risks and rewards of
 ownership of the goods have passed to the buyer. Excise Duty, Sales Tax
 and VAT deducted from turnover (gross) is the amount that is included
 in the amount of turnover (gross) and not the entire amount of
 liability arised during the year. Revenue includes the amount of excise
 duty refund received/due in accordance with incentive scheme. Revenue
 is net of trade discount given.
 
 Interest
 
 Revenue is recognised on a time proportion basis taking into account
 the amount outstanding and the rate applicable.
 
 i) Foreign currency translation
 
 (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 at 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; 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.
 
 (iii) Exchange Differences
 
 Exchange differences arising on the settlement of monetary items or on
 reporting company''s monetary items 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.
 
 j) Retirement and other employee benefits
 
 (i) Retirement benefits in the form of Provident Fund and
 Superannuation 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
 fund.
 
 (ii) 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.
 
 (iii) Short-term compensated absences are provided for based on
 estimates at the year end. Long-term compensated absences are provided
 for based on actuarial valuation. The actuarial valuation is done as
 per projected unit credit method.
 
 (iv) Actuarial gains/losses are immediately taken to profit and loss
 account and are not deferred.
 
 k) Sales promotion items
 
 Sales promotion items are valued at cost or net realizable value,
 whichever is lower. Cost is ascertained on First-in-First-out (''FIFO'')
 basis and includes all applicable costs incurred in bringing goods to
 their present location and condition.
 
 l) Income-tax
 
 Tax expense comprises of current and 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. 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 earlier years.
 
 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. In situations
 where the Company has unabsorbed depreciation or carry forward tax
 losses, all deferred tax assets are recognised only if there is virtual
 certainty supported by convincing evidence that they can be realised
 against future taxable profits.
 
 At each balance sheet date the Company re-assesses unrecognised
 deferred tax assets. It recognises unrecognised 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 realised.
 
 The carrying amount of deferred tax assets are reviewed at each balance
 sheet date. The Company writes-down the carrying amount of a deferred
 tax asset to the extent that it is no longer reasonably certain or
 virtually certain, as the case may be, that sufficient future taxable
 income will be available against which deferred tax asset can be
 realised. Any such write-down is reversed to the extent that it becomes
 reasonably certain or virtually certain, as the case may be, that
 sufficient future taxable income will be available.
 
 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 recognized 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 and 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.
 
 m) Provisions
 
 A provision is recognised when an enterprise has a present obligation
 as a result of past event; 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 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.
 
 n) Excise duty
 
 Excise duty on turnover is reduced from turnover. Excise duty relating
 to the difference between the opening stock and closing stock is
 recognized as income/expense as the case may be, separately in the
 Profit and Loss account.
 
 o) Segment Reporting Policies
 
 Identification of segments:
 
 The Company''s operating businesses are organized and managed separately
 according to the nature of products, with each segment representing a
 strategic business unit that offers different products and serves
 different markets. The analysis of geographical segments is based on
 the areas in which major operating divisions of the Company operate.
 
 Segment policies:
 
 The Company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the Company as a whole.
 
 Intersegment transfer:
 
 The Company generally accounts for inter segment sales and transfers as
 if the sales or transfer were to third parties at market price.
 
 Allocation of common costs:
 
 Common allocable costs are allocated to each segment according to the
 relative contribution of each segment to the total common costs.
 
 Unallocated items:
 
 It includes general corporate income and expense items which are not
 allocated to any business segment.
 
 p) Earnings per Share
 
 Basic earnings per share are 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. The
 weighted average number of equity shares outstanding during the year
 are adjusted for event of bonus issue, bonus element in a rights issue
 to existing shareholders, share split, and reverse share split.
 
 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.
 
 q) Cash and Cash equivalents
 
 Cash and cash equivalents for the purpose of cash flow statement
 comprise cash at bank and in hand and short-term investments with an
 original maturity of three months or less.