a) Contingent Liabilities
 
 Provisions are made for known liabilities and other liabilities as per
 the provisioning policy of the Company or where additional risks are
 identified by the Management, based on such identification.  The
 Company has not recognized any Contingent Liabilities other than those
 specified below:
 
 Sr.  Particulars                            Current Year  Previous Year
                                            (Rs.in Lacs)  (Rs.in Lacs)
 
 1.   Letter of Guarantee given by the 
      Bankers                                    98.90        171.12
 
 2.   Letter of Credit issued by the Bankers     49.42         33.46
 
      Letter of Credit Acceptances and 
 3    Endorsements                               28.67           Nil 
 
 4.   Bills Discounting                           9.65           Nil
 
      Claims against the Company not 
 5.   acknowledge as debts                         Nil           Nil 
 
 b) Taxes on Income
 
 i.  Income Tax comprises of Current Tax and net changes in Deferred Tax
 Assets or Liabilities during the year. Current Tax is determined at the
 amount of tax payable in respect of taxable income for the year as per
 the Income-tax Act, 1961, based on the estimates of weighted average
 income tax rate expected for the full financial year.
 
 ii.  Deferred Tax Assets and Liabilities are recognized for the future
 tax consequences of timing differences between the book profit and tax
 profit. Deferred Tax Assets and Liabilities other than on carry forward
 losses and unabsorbed depreciation under tax laws are recognized when
 it is reasonably certain that there will be future taxable income.
 
 iii. Net Deferred Tax Liability and Assets is recognized on timing
 differences between accounting income and taxable income for the year
 and quantified using the tax rates and laws enacted or subsequently
 enacted as on the Balance Sheet date. Net Deferred Tax liability has
 been recognized in the Books as required byAS-22 of the Institute of
 Chartered Accountants of India.
 
 c) Loans from Banks
 
 I. Secured Loans from Indian Overseas Bank and State Bank of India are
 secured by way of hypothecation of entire stocks of raw materials,
 semi-finished and finished goods, consumable stores and spares,
 debtors, plant and machineries, and charge on immovable properties at
 Silvassa Plant.
 
 ii.  Car Loans are secured by hypothecation of motor vehicles purchased
 here-against.
 
 d) In the opinion of the Board, current assets, loans and advances have
 a value on realization in the ordinary course of business at least
 equal to the amount at which they are stated. The balances of Sundry
 Debtors, Loans and advances, Deposits, some of the Sundry Creditors and
 Unsecured Loans are subject to confirmations and adjustments, if any.
 
 e) None of the Company''s suppliers have intimated of their being a
 Small Scale Industrial Undertaking and to the best of the company''s
 knowledge and belief sundry creditors as at 31st March, 2012 does not
 include outstanding due to Small Scale Industries within the meaning of
 Section 3 of the Industries (Development and Regulation)Act, 1951.
 
 f) Directors Remuneration of Rs. 33.60 Lacs (Previous year Rs. 32.40 Lacs)
 
 Note : Figures in brackets relates to previous year. The previous
 year''s figures have been regrouped, rearranged and reclassified
 wherever necessary.