Note No 1.1: Terms/rights attached to equity shares
 
 (A) The company has only one class of equity shares having a par value
 of Re. 1 per share. Each holder of equity shares is entitled to one
 vote per share. The dividend proposed by the Board of Directors is
 subject to the approval of the shareholders in the ensuing Annual
 General Meeting.
 
 (B) The amount of dividend per share of Re. 1.00 (Previous Year Re.
 1.00) has been proposed to be distributied to equity shareholders for
 the year ended 31/03/2012. The total amount of dividend shall be
 Rs.37,714,201 /- including dividend distribution tax Rs. 5,264,201/-
 (Previous Year Rs. 37,714,201/- including dividend distribution tax
 Rs.5,264,201/-).
 
 (C) In the event of liquidation of the company, the holders of equity
 shares will be entitled to receive remaining assets of the company,
 after distribution of all preferential amounts. The distribution will
 be in proportion to the number of equity shares held by the
 shareholders.
 
 Note No 1.2: Details of sub-division of shares during the period of
 five years Immediately preceding the reporting date :
 
 In the Financial Year 2007-08, 32,45,000 Equity Shares of Rs.10 each
 fully paid were sub-divided into 32,450,000 Equity Shares of Re.1 each
 fully paid up.
 
 Note No 2.1: Terms of Repayment. Nature of Securities in respect of
 Term Loans
 
 (i) Foreign currency loan from Citi Bank carries interest rate of 4.10%
 p.a. and is repayable in 12 quarterly installments, These facilities
 are secured by first pari pasu charge on all (Present and Future)
 factory fixed assets of the company including equitable mortgage on the
 factory land & building at Vapi..
 
 (iia) Rupee loan from Bank of India amounting to Rs.4,962,607/- (March
 31, 2011: Rs. 9,967,248/-) carries interest rate of 13.50%p.a and is
 repayable in 11 quarterly installments. This loan facility is secured
 by first pari pasu charge on all (Present and Future) factory fixed
 assets of the company including equitable mortgage on the factory land
 & building at Vapi.
 
 (iib) Rupee loan from Bank of India amounting to Rs. 16,532,791/-
 (March 31, 2011: Rs. Nil) carries interest rate of 13.50% p.a and is
 repayable in 18 quarterly installments. This loans facility is secured
 by first pari pasu charge on all (Present and Future) factory fixed
 assets of the company including equitable mortgage on the factory land
 & building at Vapi.
 
 (iii) Vehicle loan taken from Axis Bank carries interest rate @ 9.31%
 and is repayable in 36 monthly installments. The loan is secured by
 hypothecation of vehicle.  .
 
 (iv) Vehicle loan taken from BMW financial services carries interest
 rate @9.31% and is repayable in 36 monthly installment. The loan is
 secured by hypothecation of Vehicle.
 
 Note No. 3.1 : Accounting Policy of Deferred Tax
 
 The Deferred Tax for timing difference between Book Profits and Tax
 Profits for the year is accounted for using the tax rate and laws that
 have been enacted or substantially enacted as of the Balance Sheet
 Date. Deferred Tax assets arising from timing differences are
 recognized to the extent there is a virtual certainty that these would
 be realized in future and are reviewed for the appropriateness of their
 respective carrying values at each Balance Sheet Date,
 
 Note No. 4.1:
 
 Working capital facilities are secured by Hypothecation of stocks &
 book debts and further secured by collateral security of all movable
 and immovable factory properties.
 
 Note No. 5.1 : Accounting Policies of Inventories Valuation
 
 Consumable tools, raw material, packing material, work in progress,
 finished goods and stores & spares have been valued at lower of cost
 and net realisable value. Cost of finished goods and work-in-progress
 has been ascertained at estimated cost, Cost of raw material has been
 ascertained on weighted average cost basis. Cost of other inventories
 has been ascertained on First-ln-First-Out method (FIFO). Silver booked
 by customers for their process work has been valued at the rates at
 which the same is booked by them. Scrap is valued at Net Realizable
 Value.
 
 Note No. 6.1 : Goods in transit
 
 Raw Material includes goods in transit Rs. Nil (Previous Year Rs.
 939,381/-)
 
 7 CONTIGENT LIABILITIES AND COMMITMENTS
 
 a) CONTIGENT LIABILITIES
 
 Particulars                                 As at        As at
 
                                   March 31, 2012       March 31,2011
 
 Disputed Income Tax Liabiiites      1,312,740            456,084
 
 Disputed Service Tax Liabilities    2,410,252               -
 
 Bond issued under Advance Licence 
 Scheme                              1,670,761               -
 
 Bond issued under Export Promotion 
 Capital Goods                         793,194          3,369,825
 
 Scheme                                  -                   -
 
                                     6,186,947          3,825,909
 
 b)   COMMITMENTS
 
 Particulars                           As at              As at
 
                                 March 31, 2012         March 31, 2011
 
 Estimated amounts of Contracts 
 remaining to be executed on 
 Capital account and not provided
 
 for (Net of Advances)              71,048,449        31,281,400
                                    71,048,449        31,281,400
 
 Note No. 8.1: Accounting Policies of Employee Benefit
 
 i) Short Term Employee benefits are recognised as an expense at the
 undiscounted amounts in the Statement of Profit and Loss of the year in
 which the related service is rendered.
 
 ii) Contribution payable to the recognised Provident Fund which is
 Defined Contribution Scheme is charged to Statement of Profit and Loss.
 
 iii) Liabilities in respect of Defined Benefit Plans are determined
 based on actuarial valuation made by an independent actuary as at the
 Balance Sheet date. The actuarial gains or losses are recognised
 immediately in the Statement of Profit and Loss.
 
 iv) In case of non-member of the Gratuity Fund, the same is provided as
 per the approval of Central Government and as per Payment of Gratuity
 Act, 1972, wherever applicable.
 
 9 EMPLOYEE BENEFITS
 
 The disclosures as required under the Accounting Standard 15 (Revised)
 are as under:
 
 The Companay has schemes for the long term benefits such as Provident
 Funds, Gratuity and Leave encashment. In case of funded scheme,the
 funds are recognised by the Income tax authorities and administered
 through trustees/appropriate authorities.The Company''s benefit plans
 include gratuity and leave encashment.The companies Defined
 Contribution Plan includes Provident Fund.  Accordingly related
 diclosure are as under:
 
 10 Derivatives:
 
 HEDGED:
 
 The Company has entered into Forward Hedged Exchange Contracts, being
 derivative instruments for hedge purpose and not intended for trading
 or speculation purposes, to establish the amount of currency in Indian
 Rupees required or available at the settlement date of certain payables
 and receivables. The following are the outstanding Forward Exchange
 Contracts entered into by the Company:
 
 11 OPERATING LEASES DISCLOSURES Assets Taken on Lease
 
 The company''s major leasing arrangements are in respect of staff
 quarters and office premises taken on Leave and Licence basis.  The
 aggregate lease rentals of Rs 424,272/- (Previous Year: 409,160/-) are
 charged as Rent and shown under the Note No. 24 Other Expenses.
 These leasing arrangements, which are cancelable, range between eleven
 months and three years generally or longer and are usually renewable by
 mutual consent at mutually agreed terms and conditions.
 
 12 The Company has paid a contribution of Rs. Nil (Previous Year Rs.
 50,000/-) to Bharatiya Janata Party, a political party.
 
 13 Balances of Trade Receivables, Trade Payables and Loans and Advances
 are subject to confirmation and consequential adjustment, if any.
 
 14 The Financial Statement for the year ended 31st March 2011 had been
 prepared as per the then applicable, prerevised Schedule VI of the
 Companies Act, 1956. Consequent to the notification under the Companies
 Act, 1956, the Financial Statement for the year ended 31st March, 2012
 are prepared under revised Schedule VI. Accordingly the previous year''s
 figures have also been reclassified to conform to the year''s
 classification.