1.  Company Information
 
 Marathwada Refractories Ltd (the company) is a company engaged in the
 activities relating to production, manufacture or trade refractories of
 all kind and bricks of all types and varieties with different
 properties and components.
 
 2.  Basis of Preparation of Financial Statements
 
 The financial statements have been prepared to comply in all material
 respects with the notified accounting standard by Companies Accounting
 Standards Rules, 2006 and the relevant provisions of the Companies Act
 1956. The financial statements have been prepared under the historical
 cost convention on an accrual basis in accordance with accounting
 principles generally accepted in India.
 
 The accounting policies have been consistently applied by the Company
 and are consistent with those used in the previous year. The Company is
 not a Small and Medium Sized Company (Non SMC) as defined in the
 General Instructions in respect of Accounting Standards notified under
 the Companies Act 1956, Accordingly, the Company has complied with the
 Accounting Standards as applicable as such.
 
 3.1.  Share capital
 
 The company has only one class of equity shares having a par value of
 Rs. 10 per share. Each holder of equity shares is entitled to one vote
 per share. The company declares and pays dividends in Indian rupees.
 The dividend proposed by the Board of Directors is subject to the
 approval of the shareholders in the ensuing Annual General Meeting.
 During the year, the company has not proposed for any dividend payable
 to the share holders.
 
 In the event of Liquidation, Equity Share holders are entitled to
 receive the assets of the company remaining after distribution of all
 preferential amount, in proportion to the number of shares held by them
 
 All Preference shares are redeemable at the end of 7th year from the
 date of issue. In the event of Liquidation of the company the
 Preference Share holders will have priority over equity share holders
 in the payment of dividend and repayment of capital
 
 3.2.  Related Party Disclosure 
 
 Names of Related Parties and Related Party relations Ships
 
 Member                                    Sushil Mantri
 
 Director & Key Managerial Personnel       Prakash G. Hegde
 
 Director & Key Managerial Personnel       H. S. Girish Gupta
 
                                           Vasudev Murthy
 
 Related Party Transactions
 
 There are no transactions entered into by the company which requires
 disclosure as per Accounting Standards 18-Related Party Disclosure.
 
 3.4.  Capital and Other Commitments
 
 There are no commitments of capital or other nature falling on the
 company except those disclosed in the notes above and as on the
 reporting date, no such commitments are due to be settled or which
 requires outflow of cash or cash equivalent.
 
 3.5.  Contingent Liabilities
 
 There are no possible obligation on the company as on the reporting
 date, that may probably require an outflow of resources from the
 company and as such no disclosure is required for any Contingent
 Liability.
 
 3.6.  Previous Year Figures
 
 Pursuant to the adoption of Revised Schedule VI for Preparation and
 Presentation of Financial Statements, previous year figures are grouped
 and reclassified according to the requirements as per Revised Schedule
 VI.