1 Provision for Income Tax has been made in accordance with the
 provisions of the Income Tax Act, 1961.
 
 2 The power cost is net of value of captively consumed units of Wind
 Mill.
 
 3 Parsuant to approval of the shareholders of the company by way of
 postal ballot on 13th August, 2010 the company has sub-divided its
 equity shares of the face value of Rs. 10 each into 10 equity shares of
 the face value of Re.1 each.
 
 4 Related Party Transactions:
 
 As per Accounting Standard 18, Related Party Disclosure is as under:
 
 (a) List of Related Parties with whom transactions have taken place
 during the year and relationship:
 
 Name of the Related Party             Relationship
 
 Shah Jeetmal Champalal                Associate
 
 Mahalaxmi Cal Chem Pvt. Ltd           Associate
 
 Anand Chem Industries Pvt. Ltd.       Associate
 
 Mahalaxmi Exports                     Associate
 
 Rahul Textile                         Associate
 
 Jeetmal B Parekh                      Key Managerial Personnel
 
 Rahul J Parekh                        Key Managerial Personnel
 
 Anand J. Parekh                       Key Managerial Personnel
 
 
 5 Contingent liabilities in respect of:         2010-11    2009-10
 
 a) Bank Guarantee                   Rs. in lacs     8.38       8.38
 
 b) Textile Cess                     Rs. in lacs    11.12      11.12
 
 c) Disputed Excise Duty Liability   Rs. in lacs     9.98      20.60
 
 d) Disputed Income Tax Liability    Rs. in lacs    14.88      12.89
 
 e) Claims against suits filed in 
    labour courts not acknowledged 
    by the Company                   Rs. in lacs     0.60       0.67
 
 f) Claims against suits by others
    not acknowledged by the Company  Rs. in lacs    10.09      10.09
 
 g) Estimated amount of Capital 
    remaining to be                  Rs. in lacs   570.88          - 
    executed on capital account and 
    not provided for (Net of 
    Advances)
 
 6 In the opinion of the management the balances of sundry debtors,
 loans and advances have approximately the same realisable value as
 shown in the accounts.
 
 7 The Disclosures as required to be made relating to Micro, Small and
 Medium Enterprise under the Micro,Small and Medium Enterprises
 Development Act, 2006 (MSME) are not furnished in view of the non
 avaibility of the relevant information with the company from all such
 enterprises. However, in the considered view of the management and as
 relied upon by the auditors, impact of interest, if any that may be
 payable in accordance with the provisions of this Act is not expected
 to be material.
 
 8 Based on review carried out as on 31.03.2011, no impairment loss is
 required to be provided for as per Accounting Standard 28 on
 Impairment of Assets.
 
 9 Sundry Debtors include Rs. 20258914 due from companies and firms in
 which directors of the company are directors or partners
 
 10 Previous year''s figures are regrouped and/or rearranged wherever
 considered necessary.