1.  Contingent Liabilities :                           (Rs. in Lakhs)
 
 (To the extent not provided for )              31.03.12      31.03.11
 
 i) Claim against the Company not 
    acknowledged as debts                             29            23
 
 ii) Counter Guarantee given to Banks               5,95          5,94
 
 iii) On Account of Bill discounted                46,66       1,42,63
 
 iv) Disputed income tax demand not 
     provided for-Appeals filed before 
     Appellate Authorities are pending               -            2,00
 
 v) Disputed Sales tax demand not 
    provided for                                      35            14
 
 vi) Disputed Service tax not provided for           1,11            9
 
 vii) On account of export obligation covered by
 
 letter of undertaking                              47,03        61,00
 
 2.  No significant restriction is attached on the investments held
 outside India
 
 3.  The Cash and Cash equivalents in the Cash flow statement include
 foreign currency balances, which does not include any amount, which is
 of restrictive reliability.
 
 4.  Power and fuel cost is net of Rs. 24.07 Crores (P.Y.Rs 19.44
 Crores) being electricity generated through wind mills.
 
 5.  The amount of borrowing cost capitalized during the year Rs. 1.26
 Crores /- (PY Rs.3.74 Crores)
 
 6.  In view of the loss incurred by the Company no income tax is
 payable.
 
 7.  Deferred tax liability mainly represent timing differences
 relating to depreciation of Rs. 51.99 Crores (P.Y Rs. 44.29 Crores) and
 Deferred asset mainly represent timing'' difference on account of
 carried forward depreciation permissible Rs. 12.97 Crores(PY: 12.47
 Crores) under Income tax Act 1961. The MAT credit available is Rs. 9.64
 Crores .
 
 8.  Disclosure regarding Derivative Instruments:
 
 a) The Company enters into forward contracts either to hedge its
 foreign exchange exposure or to reduce costs and not for any
 speculative purposes. The Company has not entered into any derivative
 deals during the year and the Company has'' no outstanding derivative
 exposure as on 31st March 2012
 
 b) The net loss incurred by the company on cancellation of Forward
 Contracts during the year is grouped under miscellaneous expenditure.
 As the company has taken forward cover only for hedging purposes, the
 Company is not required to mark to market the forward contracts as on
 the Balance Sheet date.
 
 9.  Based on the information available with the Company, the principal
 amount due to Micro and small enterprises on 31.03.2012 is Rs. NIL.
 There has been no overdue principal amount and therefore no interest is
 paid / payable.
 
 10.  The Company has adopted the Accounting Standard (AS) 15 (Revised)
 from the year 2008.
 
 (a) Post employment benefits
 
 (b) Provident fund and other funds
 
 Being a defined contribution plan, the company makes fixed monthly
 contributions, in respect of covered employees, to the Government
 managed funds and the company has no legal obligation to pay any
 further sum beyond the contribution made towards the claims settled.
 The company has during the year recognized Rs.190.81(PY.160.84) lacs as
 expense towards contribution towards these plans.
 
 (c) Gratuity
 
 The Company provides for gratuity, a defined benefit plan, covering
 eligible employees. The provision for the accrued liability as at the
 balance sheet date is made as per actuarial valuation, using the
 Projected unit credit method. Based on the valuation the incremental
 liability is contributed to the gratuity trust.  Trustees administer
 the contributions made, by investing the funds in approved securities.
 The company has an obligation to make good the short fall, if any,
 between the contributions and the settlements.
 
 11) In the opinion of the board, all the assets other than fixed asset
 and non-current investments have a value on realization in the ordinary
 course of business at least equal to the amount at which they are
 stated.
 
 12) There is no amount due and outstanding to be credited to
 investor''s education and protection fund.
 
 13) Confirmation of balances have not been received from parties.
 
 14) Previous year figures have been regrouped wherever necessary to
 conform to the current years classification.
 
 15) Figures have been rounded off to the nearest lakh in the financial
 statement and in the accompanying notes.
 
 Notes : 1. Mr. Manikam Ramaswami, Chairman and Managing Director is the
 key management personnel of the enterprise and his remuneration
 particulars are disclosed in the notes on accounts .
 
 2.  Mr. P. Manivannan is employed on a whole time basis and hence his
 name has been included. His remuneration particulars are disclosed in
 the notes on accounts. Sri Shridhar Subrahmanyam, Director is paid
 professional charges as given in the notes.
 
 3.  There is no transaction with Loyal Dimco Group, A.E.B.E. Greece.
 Uniloyal Expotex Limited, Chennai, and Shri Teyem Processors Ltd.,
 during the year.
 
 4.  The information regarding applicable transactions as given in
 clause 24 of AS 18 is given above.