1.  Method of Accounting
 
 The financial statements are prepared under historical cost convention
 and on accrual basis and in accordance with the provisions of the
 Companies Act, 1956 and accounting principles generally accepted in
 India and comply with the Accounting Standards prescribed in the
 Companies (Accounting Standards) Rules, 2006 issued by the Central
 Government to the extent applicable.  The accounting is on the basis of
 a going concern concept.
 
 2.  Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires estimates and assumptions to be
 made that affect the reported amounts of assets and liabilities on the
 date of the financial statements and the reported amounts of revenues
 and expenses during the reporting period. Differences between actual
 results and estimates are recognized in the period in which the results
 are known/ materialized.
 
 3.  Fixed Assets:
 
 Fixed assets are stated at historical cost net of Cenvat credit A/alue
 added Tax, including appropriate direct and allocated expenses less
 accumulated depreciation and impairment losses, if any.
 Increase/Decrease in rupee liability in respect of foreign currency
 liability related to acquisition of fixed assets is recognized as
 expense or income in the Profit and Loss Account. Self constructed
 assets are capitalized at factory cost.
 
 4.  Investments:
 
 Long Term Investments are carried at cost inclusive of all expenses
 incidental to acquisition. Provision for diminution in value of long
 term investments is made only if such a decline is other than temporary
 in nature in the opinion of the management.  Adjustment for diminution
 in value of long term investments, considered temporary in the opinion
 of the management, are determined for each investment individually and
 credited to Investment Fluctuation Reserve by transfer from Profit &
 Loss Account.
 
 5.  Valuation of Inventories:
 
 Inventories are valued at lower of cost and net realizable value after
 providing for obsolescence wherever necessary. Cost is determined on
 weighted average basis. Net realizable value is the estimated selling
 price in the ordinary course of business, less estimated costs of
 completion and estimated costs necessary to make the sale.
 
 6.  Translation of Foreign Currency Transactions:
 
 Foreign currency transactions are recorded at the prevailing exchange
 rates at the time of initial recognition. Exchange differences arising
 on final settlement are adjusted and recognized as income or expense in
 the profit and loss account. Outstanding balances of monetary items
 denominated in foreign currency are restated at closing exchange rates
 and the difference adjusted as income or expense in the profit and loss
 account.
 
 The premium or discount arising at the inception of forward exchange
 contracts is accounted as income or expense over the life of the
 contract. Any profit or loss arising on cancellation or renewal of
 forward exchange contract is recognized as income or as expense in the
 period in which they arise.
 
 7.  Depreciation
 
 Depreciation on all fixed assets is provided on the written down value
 method except in the case of Wind Mills for which Straight Line Method
 is adopted at the rates specified in Schedule XIV of the Companies Act,
 1956. For additions and deletions depreciation is provided on pro-rata
 basis.
 
 8.  Recognition of Revenue
 
 Income and Expenditure are recognized and accounted on accrual basis as
 and when they are earned or incurred. Revenue from sale transaction is
 recognized as and when significant risks and rewards attached to
 ownership in the goods is transferred to the buyer. Revenue from
 service transactions is recognized on the completion of the contract.
 Dividend from Investments, Export incentives under Duty Entitlement
 Pass Book [DEPB] Scheme and Duty drawback scheme are recognized when
 the right to receive paymenVcredit is established and no significant
 uncertainty as to measurability or collectability exists.
 
 9.  Borrowing costs
 
 Interest on borrowings, if any, attributable to acquisition of
 qualifying Assets are capitalized and included in the cost of the
 asset, as appropriate.
 
 10.  Earnings per Share:
 
 Basic Earning per share is calculated by dividing the Net Profit after
 tax attributable to the equity shareholders by the weighted average
 number of Equity Shares outstanding during the year.
 
 11.  Employee Benefits:
 
 Short term employee benefits (other than termination benefits) which
 are payable within 12 months after the end of the period in which the
 employees render service are accounted on accrual basis.
 
 Defined Contribution Plans
 
 Company''s contributions paid / payable during the year to Provident
 Fund and ESIC are recognised in the profit and loss account.
 
 Defined Benefit Plans
 
 Company''s liabilities towards gratuity and leave encashment are
 determined using the projected unit credit method which considers each
 period of service as giving rise to an additional unit of benefit
 entitlement and measures each unit separately to build up the final
 obligation. Past services are recognized on a straight line basis over
 the average period until the amended benefits becomes vested. Actuarial
 gains or losses are recognized immediately in the statement of profit
 and loss account as income or expense. Obligation is measured at the
 year end as present value of estimated future cash flows using a
 discounted rate that is determined by reference to market yields at the
 balance sheet date on government bonds where the currency and terms of
 the government bonds are consistent with the currency and estimated
 terms of the defined benefit obligations.
 
 12.  Research and Development
 
 Revenue expenditure incurred on Research and Development activities are
 expensed. Fixed assets relating to Research and Development are
 capitalized and depreciation provided thereon.
 
 13.  Taxes on Income
 
 Current Tax is determined as per the provisions of the Income-tax Act,
 1961 in respect of taxable income for the year and based on the
 expected outcome of assessment/appeals.
 
 Deferred Tax assets and liabilities are recognized on timing
 differences between accounting income and taxable income for the year
 and quantified using the tax rates and laws enacted or substantively
 enacted as on the Balance Sheet date.
 
 Deferred Tax assets, other than those arising on account of unabsorbed
 depreciation or carry forward of losses under tax laws, are recognized
 and carried forward subject to consideration of prudence 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 realized.
 
 14.  Provisions, contingent liabilities and contingent assets
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognized but are disclosed in the
 notes to financial statements. Contingent assets are neither recognized
 nor disclosed in the financial statements.  Provisions, contingent
 liabilities and contingent assets are reviewed at each balance sheet
 date and adjusted to reflect the current best estimate.
 
 15.  Cash Flow Statements
 
 Cash Flows are reported using the Indirect method, whereby profit
 before tax is adjusted for the effects of transactions of a non- cash
 nature, any deferrals or accruals of past or future operating cash
 receipts or payments and items of income or expense associated with
 investing or financing cash flows. Cash and cash equivalents include
 cash on hand and balances with banks in current and deposit accounts
 with necessary disclosure of cash and cash equivalent balances that are
 not available for use by the company.
 
 16.  Segment Reporting
 
 Segment accounting policies are in line with the accounting policies of
 the company, except that segment revenue includes sales and other
 income directly identifiable or allocable to the segment including
 inter-segment revenue.
 
 Business segments are identified on the basis of the nature of
 products/services, the risk-return profile of individual businesses,
 the organizational structure and the internal reporting system of the
 company.
 
 Segment revenue, segment expenses and segment assets and liabilities
 include those directly identifiable with the respective segments.
 Income, expenses, assets and liabilities which are not identifiable
 with or allocable to a separate segment on a reasonable basis but are
 related to the company as a whole are shown as unallocated items.
 
 Inter-segment transfers are accounted for on weighted average cost
 basis.
 
 17.  Impairment of assets
 
 An asset is treated as impaired when the carrying amount of the asset
 exceeds its estimated recoverable value. Carrying amounts of fixed
 assets are reviewed at each balance sheet date to determine indications
 of impairment, if any, of those assets. If any such indication exists,
 the recoverable amount of the asset is estimated and an impairment loss
 equal to the excess of the carrying amount over its recoverable value
 is recognized as an impairment loss. The impairment loss, if any,
 recognized in prior accounting period is reversed if there is a change
 in estimate of recoverable amount.
 
 18.  Leases
 
 Assets given on leases where substantial risks and rewards incident to
 ownership of the asset are not transferred to the lessee are classified
 as operating leases. Lease income from such operating leases is
 recognized on straight line basis over the lease term.  Depreciation on
 such leased assets is charged as per the normal depreciation policy of
 the company for similar assets. Initial direct costs incurred
 specifically in relation to such operating leases is recognized as
 expense in the period in which they are incurred.