1.1 Basis of accounting and preparation of financial statements
 
 The company maintains its accounts on accrual basis following
 historical cost convention, in accordance with the Indian Generally
 Accepted Accounting Principles. Management makes estimates and technical
 and other assumptions regarding the amounts of incomes and expenses,
 assets and liabilities and disclosure of contingencies, in accordance
 with Generally Accepted Accounting Principles in India in the
 preparation of the financial statements. Difference between the actual
 results and estimates are recognized in the period in which they are
 determined.
 
 1.2 During the year ended 31st March, 2012 the revised Schedule VI
 notified under the Companies Act, 1956 has become applicable to the
 company, for preparation and presentation of its financial statements.
 The adoption of revised schedule does not impact recognition and
 measurement principles followed for the preparation of financial
 statements. However, it has significant impact on presentation and
 disclosures made in the financial statements. The company has also
 reclassified the previous year figu es in accordance with the
 requirements applicable in the current year.
 
 1.3 Fixed Assets
 
 Land and Leasehold Land, Factory Building, Hotel Building and Plant &
 Machinery have been shown as revalued by the approved Value on
 31/03/2002 thereby increase in such assets in Gross Block by Rs.
 19,56,71,129. Other fixed assets are recorded at cost of acquisition,
 net of modal and VAT credit or cost of construction including directly
 attributable costs reduced by accumulated depreciation Land on
 leasehold basis is included in the schedule of fixed assets.
 
 1.4 Depreciation
 
 i Depreciation has been charged on the Straight Line Method in
 accordance with the rates specified under Schedule XTV to the Companies
 Act, 1956.  
 
 ii Depreciation on assets added during the year has been provided on 
 pro-rata basis.
 
 iii Depreciation on revaluation amount of fixed assets is adjusted by
 transferring the equivalent amount
 from Revaluation Reserve Account.
 
 1.5 Inventories
 
 Raw Material, Work in Process, stores and spares, food and beverages
 are valaed at cost on FIFO method.  Finished Goous and Goods on
 Consignment are valued at cost or reusable value whichever is lower.
 Wastage and scrap are valued at Realisable Market Value.
 
 1.6 Revenue recognition Sale of goods
 
 Sales are accounted net of returns and discounts and is accounted at
 the point of despatch of material to the customers. In the Hotel
 Division receipts from room rent are net of disocunt but inclusive of
 luxury tax and service charge. In case of food and beverage sales are
 accounted net of complimetary and discount but inclusive of service
 charge and vat.
 
 1.7 Other income
 
 Interest income is accounted on accrual basis. Dividend income is
 accounted for when the right to receive it is established.
 
 1.8 Cash and cash equivalents (for purposes of Cash Flow Statement)
 
 Cash comprises cash on hand and demand deposits with banks. Cash
 equivalents are short-term balances (with an original maturity of three
 months or less from the date of acquisition), highly liquid investments
 that are readily convertible into known amounts of cash and which are
 subject to insignificant risk of changes in value.
 
 1.9 Cash flow statement Cash flows are reported using the indirect
 method, whereby profit / (loss) before extraordinary items and tax is
 adjusted for the effects of transactions of non-cash nature and any
 deferrals or accruals of past or future cash receipts or payments. The
 cash flows from operating, investing and financing activities of the
 Company are segregated based on the available information.
 
 1.10 Foreign currency transactions and translations
 
 There were no foreign currency transactions.
 
 1.11 Investments Investments are stated at cost.
 
 1.12 Employee/Retirement benefits Defined contribution plans
 The Company''s contribution to provident fund and pension fund are
 considered as defined contribution plans and are charged as an 
 expense as they fall due based on the amount of contribution
 required to be made.
 
 Defined benefit plans
 
 Gratuity is accounted for on actual payment basis. No provision for
 gratuity on acturial basis is made
 and hence its effect on profit or loss cannot be ascertianed.
 
 1.13 Borrowing costs
 
 Borrowing costs include interest, amortization of ancillary costs
 incurred. Costs in connection with the borrowing of funds to the extent
 not directly related to the acquisition of qualifying assets are
 charged to the Statement of Profit and Loss over the tenure of the loan
 Borrowing costs, allocated to and utilized for qualifying assets,
 pertaining to the period from commencement of activities relating to
 construction / development of the qualifying asset upto the date of
 capitalization of such asset is added to the cost of the assets.
 
 1.14 Segment reporting
 
 The Company identifies primary segments based on the dominant source,
 nature of risks and returns and the internal organization and
 management structure. The operating segments are the segments for which
 separate financial information is available and for which operating
 profit/loss amounts are evaluated regularly by the executive Management
 in deciding how to allocate resources and in assessing performance.
 The accounting policies adopted for segment reporting are in line with
 the accounting policies of the Company. Segment revenue, segment
 expenses, segment assets and segment liabilities have been identified
 to segments on the basis of their relationship to the operating
 activities of the segment.  Revenue, expenses, assets and liabilities
 which relate to the Company as a whole and are not allocable to
 segments on reasonable basis have been included under unallocated
 revenue / expenses / assets / liabilities.
 
 1.15 Taxes on Income Current Tax
 
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the Income Tax 
 Act, 1961.
 
 Deferred Tax
 
 Deferred tax is calculated at the rates and laws that have been enacted
 or substantially enacted as of the balance sheet date and is recognized 
 on timing differences that originate in one period and are capable
 of reversal in one or more subsequent period. Deferred tax assets,
 subject to consideration of prudence are recognised and carried forward 
 only to the extent that they can be realised.
 
 Minimum Alternate Tax (MAT) Minimum alternate Tax paid in accordance
 with the tax laws, which give rise to the future economic benefits in
 the form of adjustment to future incoem tax liability, is considered as
 an asset in the balance sheet when it is probable that future economic
 benefit associated with it will flow to the company and the asset can
 be measured reliably.
 
 1.16 Earnings per share
 
 Basic earnings per share is computed by dividing the profit / (loss)
 after tax (including the post tax effect of extraordinary items, if
 any) by the weighted average number of equity shares outstanding during
 the year. Diluted earnings per share is computed by dividing the profit
 / (loss) after tax (including the post fax effect of extraordinary
 items, if any) as adjusted for dividend, interest and other charges to
 expense or income relating to the dilutive potential equity shares, by
 the weighted average number of equity shares considered for deriving
 basic earnings per share and the weighted average number of equity
 shares which could have been issued on the conversion of all dilutive
 potential equity shares.
 
 1.17 Research and development expenses
 
 Revenue expenditure pertaining to research is charged to the Statement
 of Profit and Loss.  Development costs of products are also charged to
 the Statement of Profit and Loss unless a product''s technological
 feasibility has been established, in which case such expenditure is
 capitalised. The amount capitalised comprises expenditure that can be
 directly attributed or allocated on a reasonable and consistent basis
 to creating, producing and making the asset ready for its intended use.
 Fixed assets utilised for research and development are capitalised and
 depreciated in accordance with the policies stated for Tangible Fixed
 Assets and Intangible Assets.
 
 1.18 Provisions and contingencies
 
 A provision is recognised when the Company has a present obligation as
 a result of past events 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 (excluding retirement
 benefits) are not discounted to their present value and are determined
 based on the 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. Contingent liabilities
 are disclosed in the Notes.
 
 1.19 Insurance claims
 
 Insurance claims are accounted for on the basis of claims admitted /
 expected to be admitted and to the extent that there is no uncertainty
 in receiving the claims.
 
 1.20 Service tax input credit
 
 Service tax input credit is accounted for in the books in the period in
 which the underlying service received is accounted and when there is no
 uncertainty in availing / utilising the credits.