A) Fixed Assets and Depreciation:
 
 Fixed Assets are stated at historical cost. Depreciation has been
 provided on straight line basis.
 
 B) Inventories:
 
 a)Packing materials, stores, spares and chemicals are valued at cost,
 determined on FIFO basis
 
 b) Cost comprises of all cost of purchase, cost of conversion and other
 costs incurred in bringing the inventories to their present location
 and condition.
 
 c) Retirement Benefits:
 
 Liability for gratuity is accounted on accrual basis and is computed on
 the basis of amounts payable if all die eligible employees had to
 withdraw from die services of the company at die end of die financial
 year and not on actuarial basis. Regular mondily contributions to
 provident fund are charged as revenue expenditure. Provision for Leave
 Encashment benefit, based on assumption that die same is payable to all
 employees at the end of the accounting year, is charged to Profit and
 Loss Account.
 
 C) Investments: Investments are classified into current and long term
 investments. Long-term investments are stated at cost.