1 Credit for Cenvat of Excise duty on raw materials have been taken in
 Raw material A/c and Cenvat credit of Excise Duty on Capital Goods has
 been credited to respective Capital Assets.  The unutilised modvat
 credit of Rs. 2,71,686 (Previous year Rs. 7,15,401/-) is shown under
 the Current Assets as Cenvat Receivable A/c.
 
 2 The Depreciation on various assets have been computed for various
 plants (HP, Guindy, IGK and Pondy) seperately as per the rates provided
 in Schedule XIV of the Companies Act.
 
 3 Previous years figures are re-grouped wherever considered necessary.
 
 4 Confirmation of balances from Debtors, Creditors and Advances of the
 Company have not been received.
 
 Sales includes jobwork charges of Rs 92.15 Lakhs; ( Previous year- Rs.
 179.09 lakhs)
 
 5 Other income includes profit on sale of assets Rs. 15.03 Lacs.
 
 6 Deferred Tax
 
 (a) Deferred Tax has been accounted in accordance with the requirement
 of Accounting Standard on  Taxes on Income (AS 22). Deferred Tax
 Assets are recognised on c/f unabsorbed depreciation and Business Loss
 as there is virtual certainity that sufficient future taxable income
 will be available against which such asset can be adjusted.
 
 As a matter of prudence, deferred tax assets have been recognised only
 to the extent of deferred tax liability and as such there is no impact
 of the same on these accounts.
 
 7 The company operates in only one business segment viz. Injection
 Moulded Plastic Products.
 
 8 Related Parties Disclosure
 
 Disclosure as required by Accounting Standards 18  Related Party
 Disclosures are given below
 
 a) List of Related Parties
 
 1. National Polyplast (India) Ltd        - Associate Concern
 
 2. National Plastic Industries           - Associate Concern
 
 3 Mr. Sudershan Parakh                   - Key Management Personnel
 
 4 Mrs. Manju Parakh                      - Key Management Personnel
 
 5 Mr. Alok Parakh                        - Key Management Personnel
 
 6 Mr. Arihant Parakh                     - Relative
 
 7 Mr Keshari Chand Bhutoria              - Relative
 
 
 9 Amount payable to Small scale Industrial units- outstanding for more
 than 30 days cannot be ascertained since we have not yet received the 
 confirmation from our suppliers on their status of industrial undertaking.
 
 10 Imports & Foreign Currency details
 
 11 Lease payments and receipts
 
 Lease payments have been made towards an operating lease of an
 Injection Moulding Machine. As per the guidelines of the Accounting
 Standards on leases (AS 19) issued by the Institute of Chartered
 Accountants of India, these lease payments are debited to the profit
 and loss account on accrual basis.
 
 Lease payments/ receipts are subject to cancellation at the will and
 necessity and option to exercise cancellation by either party to the
 transaction. Hence the lease payments/ receipts are not discounted for
 future cash flows.
 
 12 Bank Guarantee for Rs.9.00 lacs has been furnished to Electricity
 Department, Pondicherry.  As the Company is regular in paying the
 electricity charges, no provision for the contingent liability has been
 considered necessary as per AS 29 .
 
 13 As per the representation received from the management, there is no
 impairment of loss to fixed assets.