a.  Earning per share
 
 Earning per share is calculated by dividing the net profit or loss for
 the period attributable to equity shareholders, by the weighted average
 number of equity shares outstanding during the period.
 
 For the purpose of calculating diluted earning per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of share outstanding during the period are
 adjusted for the effects of all diluted potential.
 
 b.  Cash and cash equivalents
 
 Cash and cash equivalents in the balance sheet comprise cash at bank
 and in hand and Short- term investments with an original maturity of
 three months or less.
 
 c.  Contingent liabilities
 
 Liabilities which are material and whose future outcome cannot be
 ascertained with reasonable certainty, are treated as contingent and
 disclosed by way of notes to the accounts.
 
 d.  Provisions
 
 A provision is recognised when the company has a present obligation as
 a result of past event and it is probable that an outflow of resources
 will be required to settle the obligation, in respect of which reliable
 estimate can be made.
 
 e Disclosures of related party transactions :
 
 a List of related parties with whom the Company has transacted during
 the year
 
 i Associate / Joint Venture Concerns
 
 ii Key Management Personnel
 
 a Mr. Ashok Kumar Goenka
 
 b.  Mr. Banwari Lai Goenka
 
 c.  Mr. Rajesh Goenka
 
 d.  Dr. Subash R Kamath
 
 e.  Mr. Raj Kumar Bajoria
 
 f.  Mr. Ashok Bhat
 
 g.  Mr. Jagdish Chand Kumbhat
 
 h. Mr. VinodSinghi
 
 iii Relatives of Key Management Personnel
 
 a Ashok Kumar Goenka & Others (HUF)
 
 b.Banwari Lai Goenka & Sons (HUF)
 
 c. Rajesh Goenka & Others (HUF)