Rights, preferences and restriction attached to shares
 
 The Company has one class of equity shares with a par value of Rs. 5 per
 share. Each shareholder is eligible for one vote per share held. The
 dividend proposed by the Board of Directors is subject to the approval
 of the shareholders in the ensuing Annual General Meeting, except in
 case of interim dividend. In the event of liquidation, the equity
 shareholders are eligible to receive the remaining assets of the
 Company after distribution of all preferential amounts, in proportion
 to their shareholding.
 
 a) Provision for litigation / disputes represents the estimated outflow
 in respect of disputes with various government authorities.
 
 b) Provision for warranty and product recall represents the estimated
 outflow in respect of warranty and recall cost for products sold.
 
 c) Provision for others represents the estimated outflow in respect of
 disputes or other obligations on account of excise duty, export
 obligation etc.
 
 d) Due to the nature of the above costs, it is not possible to estimate
 the timing / uncertainties relating to their outflows as well as the
 expected reimbursements from such estimates.
 
 (1) Freehold land costing Rs. 5,268 million (Previous year Rs. 5,304
 million) is not yet registered in the name of the Company. A part of
 this land has been made available to group companies.
 
 (2) Plant and Machinery (gross block) includes pro-rata cost amounting
 to Rs. 374 million (Previous year Rs. 374 million) of a Gas Turbine jointly
 owned by the Company with its group companies and other companies.
 
 (3) Freehold Land includes 600 acres of land allotted to the Company by
 Haryana State Industrial Development Corporation, a part of which has
 been made available to group companies.
 
 (4) Additions to free hold land includes Rs. 2,354 million accrued for as
 price adjustment claimed by the authority which alloted the land in an
 earlier year.
 
 c.  Defined Benefit Plans and other Long Term Benefits
 
 a) Contribution to Gratuity Funds - Employee''s Gratuity Fund.
 
 b) Leave Encashment/ Compensated Absence.
 
 c) Retirement Allowance
 
 d) Provident Fund
 
 The return on the investment is the nominal yield available on the
 format of investment as applicable to Approved Gratuity Fund under Rule
 101 of Income Tax Act 1961.
 
 Expected contribution on account of Gratuity for the year ending 31st
 March, 2012 can not be ascertained at this stage.
 
 1.  CONTINGENT LIABILITIES:
 
 a) Claims against the Company disputed and not acknowledged as debts:
 
                                                    As at       As at
                                               31.03.2012  31.03.2011
 
 (i) Excise Duty
 
 (a) Cases decided in the Company''s 
 favour by Appellate authorities and                1,065       1,066
 for which the department has filed 
 further appeal
 
 (b) Show cause notices / orders on 
 the subjects covered in (i) (a) above              1,652       1,932 
 for other periods
 
 (c) Cases pending before Appellate 
 authorities in respect of which the               14,842      10,631
 Company has filed appeals and show 
 cause notices for other periods
 
 TOTAL                                             17,559      13,629
 
 Amount deposited under protest                         3           3
 
 (ii) Service Tax
 
 (a) Cases decided in the Company''s 
 favour by Appellate authorities and                   11         357
 for which the department has filed further
 appeal
 
 (b) Show cause notices / orders on the 
 subjects covered in (ii) (a) above                 3,690       2,775
 for other periods
 
 (c) Cases pending before Appellate 
 authorities in respect of which the                1,729       3,348 
 Company has filed appeals and show cause 
 notices for other periods
 
 TOTAL                                              5,430       6,480
 
 Amount deposited under protest                         3           2
 
 (iii) Income Tax
 
 (a) Cases decided in the Company''s favour 
 by Appellate authorities and                       6,230       6,491 
 for which the department has filed further 
 appeal
 
 (b) Cases pending before Appellate 
 authorities / Dispute Resolution                   9,699       6,002 
 Panel in respect of which the Company has 
 filed appeal
 
 TOTAL                                             15,929      12,493
 
 Amount deposited under protest                     6,135       4,178
 
 (iv) Customs Duty
 
 Cases pending before Appellate authorities 
 in respect of which the                              118         118
 Company has filed appeals
 
 Amount deposited under protest                        22          22
 
 (v) Sales Tax
 
 Cases pending before Appellate authorities 
 in respect of which the                               50          50
 Company has filed appeals
 
 Amount deposited under protest                         2           2
 
 (v) Claims against the Company for recovery of Rs. 576 million (Previous
 year Rs. 597 million) lodged by various parties
 
 (vi) The company has received and accounted for a demand for an interim
 price adjustment of Rs. 2,354 million for a freehold land acquired from a
 state government authority in an earlier year. The amount payable, if
 any, on account of final price adjustment can not be ascertained at
 this stage.
 
 b) The amounts shown in the item (a) represent the best possible
 estimates arrived at on the basis of available information. The
 uncertainties and possible reimbursements are dependent on the outcome
 of the different legal processes which have been invoked by the Company
 or the claimants as the case may be and therefore cannot be predicted
 accurately. The Company engages reputed professional advisors to
 protect its interests and has been advised that it has strong legal
 positions against such disputes.
 
 2.  Outstanding commitments under Letters of Credit established by the
 Company aggregate Rs. 1,773 million (Previous year Rs. 9,294 million).
 
 3.  Estimated value of contracts on capital account, excluding capital
 advances, remaining to be executed and not provided for, amount to Rs. 26
 338 million (Previous year Rs. 25,943 million).
 
 4.  Consumption of raw materials and components has been computed by
 adding purchases to the opening stock and deducting closing stock
 physically verified by the management.
 
 5.  The Company was granted sales tax benefit in accordance with the
 provisions of Rule 28C of Haryana General Sales Tax Rules, 1975 for the
 period from 1st August, 2001 to 31st July, 2015. The ceiling amount of
 concession to be availed of during entitlement period is Rs. 5,644
 million. Till 31st March 2012, the Company has availed of / claimed
 sales tax benefit amounting to Rs. 2,331 million (Previous year Rs. 2,118
 million).
 
 6.  The Company has considered  business segment as the primary
 segment .The Company is primarily in the business of manufacture,
 purchase and sale of motor vehicles and spare parts (automobiles).
 The other activities of the Company comprise facilitation of pre-owned
 car sales, fleet management and car financing. The income from these
 activities, which are incidental to the Company''s business, is not
 material in financial terms but contribute significantly in generating
 the demand for the products of the Company. Accordingly, the Company
 has considered Business Segmentas the primary segment and thus no
 business segment information is required to be disclosed.
 
 The Geographical Segments have been considered for disclosure as
 the secondary segment, under which the domestic segment includes sales
 to customers located in India and the overseas segment includes sales
 to customers located outside India.
 
 Notes:-
 
 a) Domestic segment includes sales and services to customers located in
 India.
 
 b) Overseas segment includes sales and services rendered to customers
 located outside India.
 
 c) Unallocated revenue includes interest income, dividend income and
 profit on sale of investments.
 
 d) Unallocated assets include other deposits, dividend bank account and
 investments.
 
 e) Segment assets includes fixed assets, inventories, sundry debtors,
 cash and bank balances (except dividend bank account), other current
 assets, loans and advances (except other deposits).
 
 f) Capital expenditure during the year includes fixed assets (tangible
 and intangible assets) and net additions to capital work in progress.
 
 Notes:
 
 * Licensed Capacity is not applicable from 1993-94.
 
 ** Installed Capacity is as certified by the management and relied upon
 by the auditors, being a technical matter.  Previous Year figures are
 in brackets.
 
 Notes :
 
 1.  Traded goods comprise vehicles, spares, components and dies and
 molds. During the year 561 vehicles (previous year 331 vehicles) were
 purchased
 
 2.  Closing Stock of vehicles is after adjustment of 61 vehicles
 (previous year - 22) totally damaged.
 
 3.  Sales quantity excludes own use vehicles 961 Nos. (previous year -
 962 Nos.)
 
 4.  Sales quantity excludes sample vehicles 188 Nos. (previous year -
 81 Nos.)
 
 5.  Previous year figures are in brackets.
 
 * In view of the innumerable sizes/numbers (individually less than 10%)
 of the components, spare parts and dies and moulds it is not possible
 to give quantitative details.
 
 7. derivative INSTRUMENTS outstanding AT THE balance SHEET DATE:
 
 1 (a) Forward Contracts:
 
 - Forward contracts to buy JPY 48,477 million (Previous year JPY 9,200
 million) against USD amounting to Rs. 29,794 million (Previous year Rs.
 4,934 million).
 
 - Forward contracts to buy USD 90 million (Previous year USD 196.50
 million) against INR amounting to Rs. 4,579 million (Previous year Rs.
 8,764 million). The above contracts have been undertaken to hedge
 against the foreign exchange exposures arising from transactions like
 royalty, import of goods and fixed assets.
 
 (b) Forward Contracts / Range Forward contract against Exports:
 
 - Forward contracts to sell USD 25 million (Previous year USD 15
 million) against INR amounting to Rs. 1,272 million (Previous year Rs. 669
 million).
 
 - Forward contracts to sell EURO 28 million (Previous year EURO 100
 million) against INR amounting to Rs. 1,901 million (Previous year Rs.
 6,316 million)
 
 - Forward contracts to sell GBP NIL (Previous year GBP 4 million)
 against INR amounting to NIL (Previous year Rs. 286 million)
 
 - Range Forward Contracts to sell USD 30 million (Previous year USD 69
 million) against INR amounting Rs. 1,526 million (Previous year Rs. 3,077
 million).
 
 The above contracts have been undertaken to hedge against the foreign
 exchange exposures arising from export of goods.
 
 (c) USD Floating rate/INR Floating rate cross-currency swap:
 Outstanding USD/INR Floating rate cross- currency swap is USD 31.175
 million (Previous year USD 62.35 million) amounting to Rs. 1,586 million
 (Previous year Rs. 2,781 million)
 
 (d) Forward Contracts against Buyers Credit :
 
 Forward Contracts to buy JPY 3,961 million (Previous year Nil) against
 INR amounting to Rs. 2,434 million Forward Contracts to buy USD 108
 million (Previous year Nil) against INR amounting to Rs. 5,495 million.
 The above contracts have been undertaken to hedge against the foreign
 exchange exposure arising from foreign currency loan.
 
 8. The financial statements for the year ended 31st March, 2011 had
 been prepared as per the then applicable, pre-revised Schedule VI to
 the Companies Act, 1956. Consequent to the notification of Revised
 Schedule VI under the Companies Act, 1956, the financial statements for
 the year ended 31st March, 2012 are prepared as per Revised Schedule
 VI.  Accordingly, the previous year figures have also been reclassified
 to conform to this year''s classification. The adoption of Revised
 Schedule VI for previous year figures does not impact recognition and
 measurement principles followed for preparation of financial
 statements.