1 Estimated amount of Capital Contracts (net of advances) remaining to
 be executed and not provided for Rs. 733.22 Lacs (Previous Year Rs. 353.97
 Lacs)
 
 2 Contingent Liabilities.
 
 (a) For disputed Income-tax matters Rs. 559.30Lacs (Previous Year Rs.
 566.95 Lacs) against which amount paid is Rs. 563.02 Lacs (Previous Year
 Rs. 559.77 Lacs)
 
 (b) Against Bond : 
 
 (i) Import Duty liability of Rs. 380.61 Lac (Previous Year Rs. 380.61 lacs)
 for import of machinery against licences granted under EPCG scheme.  
 
 (ii) Duty liability amounting to Rs. 28.53 lacs (Rs. 23.74 lacs) for the
 purchase of excisable inputs without payment of duty under the bonds
 executed if the export obligation is not fulfilled.
 
 (c) In respect of bank guarantess given for subsidiary Com- pany of
 Euro 2-mn (Previous Year Euro 2-mn) equivalent to Rs. 1278 lacs (Previous
 Year Rs. 1222 Lacs)
 
 3 Financial & Derivative Instruments
 
 (a) We have sold USD 9.61Mn equivalent Rs. 45.98 cr. and EUR 0.87 Mn
 equivalent Rs. 5.43 cr (Previous Year USD 5.83 Mn equivalent Rs. 27.85 cr.
 and Eur 0.44 Mn equivalent Rs. 2.88 cr.) to cover our export receivables
 and purchase USD 2 Mn equivalent Rs. 9.41cr.  (Previous Year USD 3 Mn
 equivalent Rs. 13.94 cr.) to cover loan repayment.
 
 (b) NIL (Previous Year USD 0.20 Mn) worth of derivative contracts were
 open on balance sheet date for sale of USD, hedging Company''s
 receivables in foreign currency.
 
 The Company has entered into USD-JPY derivative option contracts
 headging its exposure on ECB Borrowing availed in JPY for wind power
 generation project. Option contracts worth of JPY 253-Mn (Previous Year
 JPY 325-Mn) were open as on balance sheet date, maturing over a period
 of seven years ending on Jul 2014. The company has reasonable hedge
 against its ECB borrowing.
 
 4.  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 Comapny being a ''manufacturing company''
 is entitled to the exemption.  Accordingly, disclosures mandated by
 paragraphs 3(i)(a) and 3(ii)(a) of Part II, Schedule VI to the
 Companies Act, 1956 have not been provided.
 
 5. Percentage and Value of Imported and Indigenous Raw Material and
 Stores & Machinery Spares Consumed.
 
 6. (a) Sundry Creditors as per Schedule ''H'' under Current Liabilities
 include Rs. 111.47 lacs (Previous Year Rs. 128.07 lacs) due to Small Scale
 Industrial Undertakings.
 
 (c) The above information has been complied in respect of parties to
 the extent to which they could be identified as Small Scale Industrial
 Undertakings on the basis of information available with the Company.
 
 (d) In the absence of necessary information with the Company, relating
 to the registration status of suppliers under the Micro, Small and
 Medium Enterprises Development Act, 2006 the into required under the
 said act could not be compilied & Disclosed.
 
 7.  Foreign Currency Translation of Rs. 200.67 Lacs (Previous Year Rs.
 306.58 Lacs) being the exchange difference is credited to the Profit &
 Loss account.
 
 8.  The Company has standardized its accounting policy pertaining to
 amortization of Intangibles other than Trademarks. This has resulted
 into lower charge of depreciation by Rs. 158 Lac and higher deferred tax
 provision by Rs. 54 Lac.
 
 9.  Related party transactions
 
 (a) Party where control exists :
 
 Grafalco Ediciones S.L.  – Subsidiary Company 100% (P.Y. 100%) of whose
 equity share capital is held by the Company as at 31st March, 2011.
 
 eSense Learning Pvt. Ltd. – Subsidiary Company 90.69% (P.Y. 90.69%) of
 whose equity share capital is held by the Company as at 31st March,
 2011.
 
 (b) Other related parties with whom transaction have taken place during
 the year.
 
 (i) Enterprises owned or significantly influenced by key management
 personnel or their relatives
 
 Navneet Prakashan Kendra
 
 Vikas Prakashan
 
 Gala Publishers
 
 Sandeep Agencies
 
 Bigspace Realty Pvt. Ltd
 
 The Flagship Advertising Pvt. Ltd.
 
 (ii) Key Management Personnel & Relatives
 
 1.  Shri A.R. Gala
 
 2.  Shri D.R. Gala
 
 3.  Shri H.R. Gala
 
 4.  Shri S.R. Gala
 
 5.  Shri J.L. Gala
 
 6.  Shri J.K. Sampat
 
 7.  Shri N.N. Shah
 
 8.  Shri B.A. Gala
 
 9.  Shri A.D. Gala
 
 10.  Shri G.D. Gala
 
 11.  Shri R.H. Gala
 
 12.  Shri D.C. Sampat
 
 13.  Shri S.J. Gala
 
 14.  Shri S.J. Gala
 
 15.  Shri K.H. Gala
 
 16.  Shri S.S. Gala
 
 17.  Shri K.B. Gala
 
 10. Details of Loans and Advances and Investments as at the year end
 and maximum balance thereof as per clause 32 of Listing Agreement with
 Stock Exchange in compliance with SEBI Circular No.SMD/ Policy / Cir /
 2 / 2003 dt.10.1.2003
 
 11.Lease Transactions : Accounting standard 19 As a Lessor in an
 Operating Lease
 
 The existing operating lease agreements permit the lessee to cancel the
 arrangement before expiry of the normal tenure of the lease. As such,
 no disclosures are required to be made.
 
 As a Lessee in an Operating Lease 
 
 (i) Cancelable Operating Leses :
 
 The Company has taken various commercial premises under cancelable
 operating leases. These are normally renewable on expiry.
 
 12 Segment Reporting
 
 The Company''s operations relates to manufacturing of knowledge based
 information in educational and general books form and in paper and
 other stationery items. It caters to the educational need of Indian as
 well as Global market. Accordingly Publication and Stationery
 comprise of the primary segments.
 
 Secondary segmental reporting is performed on the basis of the
 geographical location of customers.
 
 The accounting principles and policies used in the preparation of the
 Financial Statements, as set out in the note on significant accounting
 policies, are also consistently applied to record revenue and
 expenditure, in individual segments.
 
 13. Disclosure pursuant to Accounting Standard - 15 (Revised) ''Employee
 benefits'' -
 
 (a) The Company adopted Accounting Standard (AS) 15 (revised 2005) on
 Employee Benefits issued by ICAI. The actuarial valuations of the
 various employee benefits were carried out by using the Projected Unit
 Credit Method.
 
 General description
 
 (1) Gratuity (Defined benefit plan)
 
 The Company makes annual contribution to the employee group gratuity
 scheme of the Life Insurance Corporation of India, funded defined
 benefits plan for qualified employees. The scheme provided for lumpsum
 payments to vested employees at retirement, death while in employment
 or on termination of employment of an amount equivalent to 15 days
 salary for each completed year of service or part thereof in excess of
 six months. Vesting occurs upon completion of five years of service.
 
 (2) Accrual for leave encashment benefit is made on the basis of a
 year-end actuarial valuation in pursuance of the Company''s leave rules.
 
 14. Previous Year Figures have been regrouped/rearranged wherever
 necessary.