i) Contingent Liabilities not provided  for in respect of :
                                   Balance as on   Balance as on
                                 31st March 2011   31st March 2010
                              
 
 
 1) Guarantees in favour of            14,846.13         19,753.80
 banks/institutions against 
 facilities granted to
 subsidiaries 
 
 2) Excise duty demands                   540.43          1,171.35
 under appeal
 
 3) Sales tax and Entry 
 tax demand under appeal.                 409.86             76.71
 
 4) Income tax demands 
 under appeal.                             73.53             73.53
 
 5) Excise duty liability on 
 goods exported pending submission of
 proof of export.                          35.83              0.38
 
 6) Custom Duty                            15.15             37.29
 
 7) Service Tax                            51.92              7.41
 
 8) Municipal Tax                          67.90             70.83
 
 9) Demand by Haldia Development 
 Authority towards Land Premium           332.50            332.50
 
 10) Stamp Duty for Registration 
 of Land                                   49.45             49.45
 
 iii) Sundry Creditors include Rs. 198.59 Lacs (Previous Year Rs. 336.44
 Lacs) towards Creditors for Capital Goods.
 
 iv) Advances recoverable in kind or for value to be received include
 advance for capital goods amounting to Rs. 397.11 Lacs (Previous Year
 Rs. 263.28 Lacs).
 
 viii) Excise duty on stocks represents differential excise duty on
 opening and closing stock of Finished Goods.
 
 ix) Exchange fluctuation Rs. 58.05 lacs (Previous Year Rs. 1092.34
 Lacs) represents short term exchange fluctuation loss.  
 
 x) Financial and Derivative Instruments :-
 
 a) Derivative contracts entered into by the company and outstanding as
 on 31st March 2011
 
 1) For hedging Interest rate related risk - (LIBOR Hedging)on Loan
 balance of USD 7.5 Million (Previous Year USD 7.50 Million)
 
 2) For hedging commodity related risks - Forward contract (Net) USD
 2.05 Million (Previous Year USD 34.00 Million)
 
 b) Foreign currency loan that are not hedged USD 31.50 Million
 (Previous Year USD 19.10 Million)
 
 xi) Information pursuant to the provisions of the Paragraph 4C, and 4D
 of Part II of Schedule VI to the Companies Act, 1956.
 
 Notes: 
 
 a) Installed capacities have been certified by the Management
 and accepted as correct by the Auditors.
 
 b) The Ministry of Corporate Affairs, Government of India vide its
 General Notification No.S.O.301(E) dated. 8th February, 2011 issued
 under Section 211(3) of the Companies Act, 1956 has exempted certain
 classes of companies from disclosing certain information in their
 Profit and Loss account. The Company being an Export Oriented Company
 is entitled to the exemption. Accordingly, disclosures mandated by
 paragraph 3(i)(a),3(ii)(a), 3(ii)(b) and 3(ii)(d) of Part II, Schedule
 VI to the Companies Act,1956 have not been provided.
 
 c) The Ministry Of Corporate Affairs, Government of India, Vide General
 Circular No.2 and 3 dated 8th February 2011 and 21st February 2011
 respectively has granted a general exemption from compliance with
 section 212 of the Companies Act,1956, subject to fulfillment of
 conditions stipulated in the circular. The Company has satisfied the
 conditions stipulated in the circular and hence is entitled to the
 exemption. Necessary information relating to the subsidiaries has been
 included in the Consolidated Financial Statement.
 
 
 xii) Related Parties disclosure
 
 Subsidiary Companies    Associates      Key Management
 
 MINL Ltd.               Arena           Mr.Basant Kumar Agrawal
                         Machineries
                         Ltd.
 
 Dynatech Industries 
 Ghana Ltd.
 
 Euroasian Ventures
 FZE
 
 Euroasian Steels LLC                    Mr. Suresh Kumar Agrawal
 (Subsidiary of 
 Euroasian 
 Ventures FZE)
 
 Solex Chemicals Pvt 
 Ltd
 
 Crescent Ind (Nepal) 
 Pvt Ltd *
 
 Jebba Paper Mills Ltd                   Mr.Sushil Kumar Agrawal
 (Subsidiary of MINL
  Ltd)
 
 Manaksia Aluminium                      Mr. Sunil Kumar Agrawal
 Co Ltd
 
 Manaksia Coated Metals 
 & Industries Ltd 
 
 Manaksia Ferro 
 Industries Ltd
 
 Manaksia Overseas Ltd                   Mr. Nadia Basak**
 
 Manaksia Steels Limited
 
 Manaksia Global Ltd *                   Mr. Debarata Guha
 
 
 
 Subsidiary Companies       Relatives               Relationship
 
 MINL Ltd.                  Mr Aditya B Manaksia    Son
 
 Dynatech Industries        Mr Navneet Manaksia     Son
 Ghana Ltd
 
 Euroasian Ventures FZE
 
 Euroasian Steels LLC       Mr.B D Agrawal          Brother
 (Subsidiary of 
 Euroasian                  Ms Vishakha Agrawal     Daughter
 Ventures FZE
 
 Mark Steels Ltd            Mr. Mahabir Pd.         Brother
                            Agrawal  
 Solex Chemicals Pvt 
 Ltd 
 
 Crescent Ind (Nepal) 
 Pvt Ltd * 
 
 Jebba Paper Mills Ltd      Mr Karan Agrawal        Son
 (Subsidiary of MINL Ltd)
 
 Manaksia Aluminium Co Ltd  Mr Anirudha Agrawal     Son
 
 Manaksia Coated Metals 
 & Industries Ltd           Ms Prachi Agrawal       Daughter
 
 Manaksia Ferro Industries
 Ltd
 
 Manaksia Overseas Ltd
 
 Manaksia Steels Limited
 
 Manaksia Global Ltd *
 
 
 * The Holding -Subsidiary relationship ceased to exist as on 31st March
 2011
 
 ** Resigned as Executive Director w.e.f. Close of business hours of
 30th March,2011.
 
 xiii) Segment information as on and for the Year ended 31st March 2011
 are as below:
 
 1) Primary Segment : Business segment has been identified as primary
 segment on the basis of the products of the company. Accordingly, the
 company has identified Packaging Product, Mosquito Coil, Metal
 Products, Engineering & Others as the business segments.
 
 - Packaging consists of manufacture and sale of PP Cap, Crown Closures,
 Metal Containers, EP Liners, Washer, EP Sheets etc.
 
 - Mosquito Coils consists of manufacture and sale of Mosquito Repellant
 coils.
 
 - Metal Product consists of manufacture and sale of Aluminium and Steel
 galvanized sheets, coils etc.
 
 - Engineering & others consists of manufacture and sales of Machine,
 Spare Parts etc.
 
 2) Secondary Segment : Geographical segment has been identified as
 secondary segment. Geographical segments considered for disclosure are
 :
 
 - Within India
 
 - Outside India
 
 xv) Change in Accounting for Insurance Claims.
 
 The Company has changed the accounting for Insurance claims from
 actual/receipt basis to accrual basis from the the current financial
 year. Consequent upon such change in the accounting, the profits for
 the year has increased by Rs.148.04 lacs.
 
 xvi) The Company has raised Rs. 24800.00 Lacs by issue of shares, 
 in public issue in an earlier year and has fully utilised the proceeds 
 of the issue as approved in Annual General Meeting of Shareholders
 
 xix) Buy Back of Equity Shares
 
 Pursuant to the approval of the Board of Directors of the Company, for
 buy back of equity shares under Section 77A of the Companies Act
 ,1956,the Company has bought back & extinguised 4,000,000 equity shares
 during the year ended March 31,2011 through open market transactions
 for Rs.40.14 crores by utilizing the Securities Premium account & the
 General Reserve to the extent of Rs.39.34 crores & Rs.0.80 crores
 respectively. The Capital Redemption Reserve has being created out of
 General Reserve for Rs.0.80 crores being the nominal value of shares
 bought back in terms of Section 77A of the Companies Act,1956.
 
 xx) Figures in bracket indicates Previous Year figure.  
 
 xxi)Corresponding comparative figures for the previous year have been
 regrouped and readjusted wherever considered necessary