i) Basis of Preparation
 
 The financial statements are prepared under the Historical Cost
 Convention method, using the accrual system of accounting in accordance
 with the Generally Accepted Accounting Principles in India & the
 requirements of the Companies Act,1956, including the Notified
 Accounting Standards as prescribed by the Companies(Accounting
 Standards) Rules,2006.
 
 ii) Revenue Recognition
 
 Revenue from sale of goods and services rendered is recognized upon
 transfer of title and rendering of services to the customers.
 
 iii) Fixed Assets
 
 Fixed Assets are stated at cost of acquisition inclusive of duties (
 net of CENVAT/VAT), taxes, borrowing costs directly attributable to
 acqusition, incidental expenses and erection / commissioning etc., upto
 the date, the asset is ready for its intended use.
 
 iv) Impairment of Assets
 
 The carrying amount of assets are reviewed at each balance sheet date
 to determine if there is any indication of impairment based on
 external/internal factor. An impairment loss is recognised wherever the
 carrying amount of an asset exceeds its recoverable amount which
 represents the greater of the net selling price and value in use of the
 asset. The estimated cash flows considerd for determining the value in
 use, are discounted to the present value at weighted average cost of
 capital.
 
 v) Foreign Currency Transactions
 
 a) Initial Recognition
 
 Foreign currency transactions are recorded in the reporting currency by
 applying to the foreign currency amount the exchange rate between the
 reporting currency and the foreign currency at the date of the
 transaction.
 
 b) Conversion
 
 Foreign currency monetary items are reported using the closing rate.
 Non-monetary items which are carried in terms of historical cost
 denominated in a foreign currency are reported using the exchange rate
 at the date of the transaction; and non-monetary items which are
 carried at fair value or other similar valuation denominated in a
 foreign currency are reported using the exchange rates that existed
 when the values were determined.
 
 c) Exchange Differences
 
 Exchange differences arising on the settlement/conversion of monetary
 items are recognized as income or expenses in the year in which they
 arise.
 
 The premium or discount arising at the inception of forward exchange
 contracts is amortised as expenses or income over the life of the
 respective contracts. Exchange differences on such contracts are
 recognised in the statement of profit and loss in the year in which the
 exchange rates change. Any profit or loss arising on cancellation or
 renewal of forward exchange contract is recognised as income or expense
 for the year.  
 
 vi) Depreciation
 
 a) Depreciation on all Fixed Assets are calculated under Straight Line
 Method at the rates specified in Schedule XIV to the Companies Act,
 1956
 
 b) Depreciation includes amortisation of leasehold land over the period
 of lease.
 
 c) Depreciation is calculated on prorata basis on additions and
 deletions of Fixed Assets during the year except for assets costing Rs.
 5000/- or less on which 100% depreciation is provided.
 
 d) Depreciation on individual items of plant and machinery costing Rs.
 5000/- or less is being provided at normal applicable rates, whenever
 aggregate cost of such items constitute more than 10% of the total cost
 of plant and machinery in accordance with amendments to Schedule XIV to
 the Companies Act, 1956 vide Notification No. GSR No. 101(E) dated
 01.03.1995.
 
 e) In case of impairment, if any, depreciation is provided on the
 revised carrying amount of the assets over its remaining useful life.
 
 f) Computer software costs capitalised are amortised using the Straight
 Line Method over estimated useful life of 5 years, as estimated at the
 time of capitalisation.
 
 vii) Investments
 
 Long term Investments are stated at Cost. Investments in foreign
 companies are considered at the exchange rates prevailing on the date
 of their acquisition. Short term Investments in liquid fund scheme of
 mutual funds have been stated at their NAV on year end date or purchase
 price whichever is less.
 
 viii) Inventories
 
 Inventories are valued as under -
 
 a) Raw materials, Finished goods, Stock in trade, Work in process,
 Packing materials and Stores & Spares are valued at lower of cost or
 net realisable value. Closing stock has been valued on Weighted Average
 basis.
 
 b) Saleable scraps, whose cost is not identifiable, are valued at
 estimated realisable value.
 
 ix) Research & Development
 
 Research and development expenditure of revenue nature are charged to
 Profit & Loss Account , while capital expenditure are added to the cost
 of fixed assets in the year in which these are incurred.
 
 x) Employee Benefits
 
 i) Short term employee benefits are charged off at the undiscounted
 amount in the year in which the related services is rendered.
 
 ii) Post employment and other long term employee benefits are charged
 off in the year in which the employee has rendered services. The amount
 charged off is recognised at the present value of the amounts payable
 determined using actuarial valuation techniques. Actuarial gain and
 losses in respect of post employment and other long term benefits are
 charged to Profit and Loss Account/Project Development Expenditure
 Account.
 
 xi) Earning per Share
 
 Basic earning per share is calculated by dividing the net Profit or
 Loss for the period attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the period.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares.
 
 xii) Excise Duty and Custom Duty
 
 Excise duty on finished goods stock lying at factories is accounted for
 at the point of manufacture of goods and accordingly, is considered for
 valuation of finished goods stock lying in the factories as on the
 Balance Sheet date.  Similarly, Custom duty on imported material in
 transit / lying in bonded warehouse is accounted for at the time, the
 same are released from Customs/ Bonded warehouse.
 
 xiii) Financial Derivatives and Commodity Hedging Transactions
 
 In respect of derivative contracts, premium paid, gains/losses on
 settlement and provision for losses for cash flow hedges are recognised
 in the Profit and Loss Account, except in case where they relate to
 borrowing costs that are attributable to the acquisition or
 construction of fixed assets, in which case, they are adjusted to the
 carrying cost of such assets.
 
 xiv) Borrowing Costs
 
 Borrowing Costs relating to acquisition / construction of qualifying
 assets are capitalized until the time all substantial activities
 necessary to prepare the qualifying assets for their intended use are
 complete. A qualifying asset is one that necessarily takes substantial
 period of time to get ready for its intended use. All other borrowing
 costs are charged to revenue.
 
 xv) Taxation
 
 Tax expenses comprises of current and deferred tax. Current income tax 
 is measured at the amount expected to be thorities in accordance with 
 the Indian Income Tax Act, 1961. Deferred income taxes reflects the year 
 timing differences between taxable income for the year and reversal of 
 timing differences of earlier years.
 
 The deferred for timing differences between the book and tax profits for
 the year is accounted for using the tax at have been substantially 
 enacted as on the Balance Sheet date. Deferred tax asset is recognised 
 that there is reasonable certainty that sufficient future taxable income 
 will be available against red tax assets can be realised. If the company 
 has carry forward unabsorbed depreciation and tax ax asset is recognised
 only to the extent there is virtual certainty supported by convincing
 evidence able income will be available against which such deferred tax
 asset can be realized.
 
 xvi) Segment Reporting
 
 a) Identification of segments
 
 The Company has identified its business segments as the primary segments. 
 The company''s businesses are organized and managed separately according 
 to the nature of products/ services, with each segment representing a
 strategic business unit that offers different product / services and
 serves different markets. The analysis of geographical segments is
 based on the areas in which the customers of the company are located.
 
 b) Allocation of Common Costs
 
 Common allocable costs are allocated to each segment on case to case
 basis applying the ratio, appropriate to each relevant case. Revenue
 and expenses, which relate to the enterprise as a whole and are not
 allocable to segment on a resonable basis, have been included under the
 head Unallocated.
 
 The accounting policies adopted for segment reporting are in line with
 those of the Company.
 
 xvii) The Company''s significant leasing arrangements are in respect of
 operating leases for premises. These leasing arrangements which are not
 non-cancellable and range between 1 year to 3 years generally and are
 renewable by mutual consent on mutually agreeable terms. The aggregate
 lease rentals payable are charged as Lease rent underSchedule ''P''.
 
 xviii) Sales
 
 a) Sales includes trade sales.
 
 b) Gross Sales include applicables taxes unless seperately charged and
 are net of discount.
 
 c) Sales are recognised on despatch except consignment sales which are
 recognised on receipt of statement of accounts from the agent.
 
 xix) Prior Period Expenses/Income
 
 Material items of prior period expenses/income are disclosed
 separately.
 
 xx) Provision, Contingent Liabilities and Contingent Assets
 
 Provisions involving substantial degree of estimation in measurement
 are recognised 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 recognised but are disclosed in the
 notes. Contingent Assets are neither recognised nor disclosed in the
 financial statements.