a) BASIS OF ACCOUNTING
 
 The financial accounts are prepared under the historical cost
 convention and accounted on accrual basis and in accordance with
 Accounting Principles generally accepted in India and comply with the
 Accounting Standards notified by the Central Government of India, under
 the Companies (Accounting Standards) Rules 2006 and relevant
 provisions of the Companies Act, 1956.
 
 b) USE OF ESTIMATES
 
 The preparation of the financial statements is in conformity with the
 generally accepted accounting principles requires estimates and
 assumptions to be made that affect the reported amount of assets and
 liabilities and the disclosure relating to contingent assets and
 liabilities as on the date of financial statements and the reported
 amount of revenues and expenses during the reporting year and
 management believes that the estimates used in the preparation of
 financial statements are prudent and reasonable. The actual results may
 differ from these statements.
 
 c) INVENTORIES
 
 Finished goods, Raw materials including components, goods in process,
 materials in transit, packing materials and stores & spares have been
 valued at lower of cost and estimated net realiseable value. Cost is
 computed under the FIFO method. Excise duty payable on manufactured
 finished goods held in the factory is included in the value of closing
 stock wherever applicable.
 
 d) FIXED ASSETS AND DEPRECIATION
 
 Depreciation has been charged:
 
 (i) at 10% under straight line method on imported Body maker and Bag
 openers and other projects under plant and machinery having regard to
 the expected useful life and residual value and
 
 (ii) at the rates and in the manner prescribed under schedule XIV of
 the Companies Act, 1956.
 
 (a) on assets relating to 3D Project (I line) and assets related to
 Wind Mills under the straight line method.
 
 (b) on all the other assets under written down value method.
 
 e) REVENUE RECOGNITION
 
 (i) Sales exclude discounts, sales tax recoveries and include excise
 duty.
 
 (ii) Interest is recognised on time basis determined by the amount
 outstanding and the rate(s) applicable.
 
 f) FIXED ASSETS
 
 Fixed assets are stated at cost less depreciation /amortisation except
 land which is stated at cost.  Cost comprises purchase price and
 attributable costs (including financing costs).
 
 g) FOREIGN CURRENCY TRANSLATION
 
 Net gain or loss on conversion at year end of current assets and
 current liabilities other than transactions relating to fixed assets is
 recognised in the Statement of Profit and Loss. In respect of
 liabilities incurred in foreign currencies for acquisition of fixed
 assets, variations in exchange rates at the time of repayment of loan
 instalments are adjusted to the cost of fixed assets.
 
 h) EMPLOYEE BENEFITS
 
 1) Short term employee benefits are recognised as an expense at the
 undiscounted amount in the statement of profit and loss account of the
 year in which the related service is rendered.
 
 2) Post employment and other long term employee benefits are recognised
 as expense in the statement of profit and loss account of the year in
 which the employee has rendered services.
 
 i) Employees Provident Fund, Employees State Insurance and
 Superannuation are defined contribution plans. The contributions under
 these plans are charged to revenue.
 
 ii) a) Gratuity is a defined benefit plan funded with the L.I.C. The
 contributions actuarially assessed by the L.I.C. and paid under the
 plan are charged to revenue.
 
 b) Actuarial gains and losses are charged to revenue.
 
 iii) In respect of those not covered by L.I.C., schemes necessary
 provisions has been made as applicable.
 
 iv) Future liability on leave encashment to employees has been provided
 as per company''s policy.
 
 3) Termination benefits : Payments made under employees ''Early
 Seperation Scheme'' are charged to the statement of Profit and loss.
 
 i) EARNINGS PER SHARE
 
 The company''s share capital consists only of Equity Shares. The basic
 and diluted earnings per share are calculated and disclosed.
 
 j) ACCOUNTING FOR TAXES ON INCOME
 
 Tax expense for the current year comprises current tax and deferred
 tax. Deferred tax liability is recognised for all timing differences.
 The deferred tax asset on temporary difference is recognised subject to
 consideration of prudence.
 
 k) RELATED PARTY DISCLOSURES have been made as per Accounting Standard
 18
 
 l) RESEARCH AND DEVELOPMENT
 
 Revenue expenditure on Research and Development is charged to Profit
 and Loss Account as and when incurred. Expenditure on assets acquired
 are capitalised.
 
 m) INTANGIBLE ASSETS
 
 Intangible assets are disclosed in the accounts separately and written
 off over their useful life.
 
 n) IMPAIRMENT OF ASSETS
 
 There being no indication of impairment of assets determined by the
 Company, no loss has been recognised on impairment of assets.