a.  Basis of Accounting and Accounting Conventions:
 
 The financial statements are prepared under the historical cost
 convention on accrual basis in accordance with the Indian Generally
 Accepted Principles Accepted Accounting Principles (IGAAP) comprising
 the Accounting standards Notified under Companies Accounting Standards
 Rules 2006 by the Central Government of India under section 21 l(3C)of
 the Companies Act 1956, Various pronouncements of the Institute of
 Chartered Accountants of India and the provisions of the Companies Act,
 1956 and guidelines issued by the Securities Exchange Board of India
 fSEBI).
 
 b.  Use of Estimates:
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of
 financial statements and results of the operations during the reporting
 period. Although these estimates are based upon the management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 c.  Revenue Recognition:
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the company and revenue can be reliably
 measured.
 
 Revenue from sale of goods is recognized on dispatch which coincides
 with transfer of significant risks and rewards to customer and is
 exclusive of excise duty and net of trade discounts, sales returns and
 sales tax, where applicable.
 
 Interest is recognized on a time proportion basis taking into account
 the amount outstanding and the rate applicable.
 
 Dividend is recognized as and when the company''s right to receive
 payment is established.
 
 d.  Fixed Assets:
 
 Fixed assets are stated at cost less accumulated depreciation,
 impairment losses and specific grants/ subsidies, if any. Cost includes
 purchase price, fright, non refundable taxes and duties and any
 identifiable expenditure to bring the assets to its present location
 and working condition for intended use. Finance cost relating to
 acquisition of fixed assets which takes substantial period of time to
 get ready for use are included to the extent they relate to the period
 till such assets are ready for its indented use.
 
 Expenditure directly relating to construction activities capitalized.
 Indirect is capitalized to the extent those relate to the construction
 activity or is incidental there to. Income earned during the
 construction period is deducted from the total expenditure relating to
 construction activity.
 
 Assets retired from active use and held for disposal are stated at
 their estimated net releasable values or net book values, whichever is
 lower.
 
 e.  Depreciation:
 
 Depreciation on Fixed Assets has been provided on Straight Line Method,
 based on the useful life of the assets as estimated by the management
 which generally coincides with rates specified in Schedule XIV to the
 Companies Act, 1956. Depreciation on addition/deletion of assets during
 the year is provided on a pro-rata basis.
 
 f.  Intangible Assets:
 
 Cost relating to licenses and other intangible assets, which are
 acquired, are capitalized and amortized on the useful life of the
 assets as estimated by the management.
 
 g.  Impairment :
 
 The carrying amount of the assets is reviewed at each balance sheet
 date if there is any indication of impairment based on
 internal/external factors. An impairment loss is recognized wherever
 the carrying amount of an asset exceeds its recoverable amount. The
 recoverable amount is the greater of the asset''s net selling price and
 its value in use, the estimates of the time value of money and risks
 specific to the asset.
 
 After impairments are carried at costs, however, diminution in value is
 provided to recognize a decline, other than temporary, in the value of
 the investments.
 
 h.  Government grants and subsidies :
 
 Grants and subsidies are recognized when there is a reasonable
 assurance that the grant or subsidy will be received and that all
 underline conditions there to will be complied with. When grant or
 subsidy relates an asset, its value is deducted in arriving in carrying
 amount of the related asset.
 
 i.  Investments:
 
 Investments that are readily realizable and intended to be held for not
 more than a year are classified as current investment. All other
 Investments are classified as long term investments current investments
 are carried at lower of cost and fair value determined on individual
 investment basis.  Long term investments carried at cost. However,
 diminishing in value is provided to recognize a decline, other than
 temporary, in the value of investments.
 
 j.  Inventories:
 
 Raw-materials, packing materials, stores & spares and consumables
 valued at lower of cost, calculated on First In First Out basis, and
 net realizable value. Items held for use in the production of
 inventories and not written down below cost. If the finished product in
 which they will be incorporated are expected to be sold at or above
 cost.
 
 Finished goods and work-in-progress are valued at lower of cost and net
 realizable value. Cost includes material, labour and a proportion of
 appropriate over heads. Cost of finished goods includes excise duty
 wherever applicable. Cost is determined on weighted basis.  Trading
 goods are valued at iower of cost and net realizable value.
 
 Net realizable value is the estimated selling price in the ordinary
 course of business, reduced by the estimated cost of computation costs
 to affect the sale.  
 
 k.  Income taxes:
 
 Tax expenses companies of current and deferred tax. Current income tax
 is measured at the amount expected to be paid to the tax authorities in
 accordance with the Indian Income Tax Act, 1961.  Deferred income taxes
 reflected the impact of current year timing difference between taxable
 income and accounting income for the year and reverser of timing
 differences of earlier years.
 
 Deferred Tax is measured based on tax rates enacted or subsequently
 enacted at the Balance Sheet Date. Deferred tax assets are recognized
 only to the extent that there is reasonable certainly that sufficient
 future taxable income will be available against which such deferred tax
 asset can be realized.  In situations where the company unobserved
 depreciation or carry forward tax losses, all deferred tax assets are
 recognized only if there is virtual certainty support by convincing
 evidence that they can be realized against future taxable profits.
 
 Un-recognized deferred tax assets of earlier years are re-assessed and
 recognized to the extent that it has become reasonably certain or
 virtually certain, as the case may be that future taxable income will
 be available against which such deferred tax assets can be realized.
 
 The carrying amount of the deferred tax assets are reviewed at each
 balance sheet date. The company writes-down the carrying amount of a
 deferred tax asset to the extent that it is no longer reasonably
 certain or virtually certain, as the case may be, that sufficient
 future taxable income will be available against which deferred tax
 asset can be realized. Any such write-down is reversed to the extent
 that it becomes reasonably certain or virtually certain, as the case
 may be, that sufficient future taxable income will available.
 
 I.  Foreign Currency Transactions: Initial Recognisation:
 
 Foreign currency transactions are recorded in the reporting currency,
 by applying to the foreign currency amount the exchange rate between
 the reporting currency and foreign currency at the date of the
 transaction.
 
 Conversion.
 
 Foreign currency monetary items are reported atyearend rates.
 Non-monetary items which are carried in terms of historical cost
 denominated in foreign currency are reported using the exchange rate at
 the date of transaction Exchange differences:
 
 Exchange differences are arising on the settlement of monetary items or
 on reporting monetary items of company at rates different from those at
 which they were initially recorded during the year, or reported in
 previous financial statements, are recognized as income or as expense
 in the year in which they arise.
 
 Forward exchange contracts not intended for trading or speculation
 purposes: In case of forward exchange contracts, difference between the
 forward rate and exchange rate on the date of transaction is recognized
 as expense or income over the life the contract. Exchange differences
 on such contracts are recognized in the statement of profit and loss in
 the year in which the exchange rates change.  Any profit or loss
 arising on cancellation or renewal of forward exchange contract is
 recognized as income or expense for the year
 
 m. Export Benefits, incentives and licenses:
 
 Export benefits on account of entitlement to import of goods free of
 duty under the ''Duty Entitlement Pass Book under Duty Exemption Scheme''
 and benefits on account of export promotion scheme included in revenues
 are accrued and accounted in the year export.
 
 n.  Borrowing Cost:
 
 Borrowing costs that are directly relatable to acquisition,
 construction or production of qualifying assets is capitalized as part
 of the cost of such asset. All other borrowing costs are charged to
 revenue.
 
 o. Provisions and Contingent Liabilities:
 
 A provision is recognized when the company has a present obligation as
 result of past event and it is probable that an outflow of resources
 will be required to settle the obligation in respect of which a
 reliable estimate can be made. Provisions are not discounted to its
 present value and are determined based on best estimate require to
 settle the obligation at the balance sheet date. These are reviewed at
 each balance sheet and adjusted to reflect the current best estimates.
 Financial effect of contingent liabilities is disclosed based on
 information available up to the date on which financial statements is
 approved. However where a reasonable estimate of financial effect be
 made, suitable disclosures are made with regard to this fact and the
 existence and nature of the contingent liability.
 
 p.  Details of Security Given for Secured Loans:
 
 i.  Term Loan from SBH
 
 a.  First charge on fixed assets both present and future i.e. Plant and
 Machinery and other movable and immovable assets of Castor Oil
 Derivatives Division, situated at Plot.No.65 & 66, Export Promotional
 Industrial Park, Pashamylaram Village, Patancheru, Medak.
 
 b.  Personal Guarantees of the Promoter Directors and Equitable
 Mortgage of Collateral Securities owned by the Promoters and their
 Associates
 
 ii.  Working capital Loans from SBH and IDBI
 
 1.  State Bank of Hyderabad
 
 a.  First charge by way of hypothecation on the entire current assets
 including all the stocks and book debts/receivables present and future
 of Castor Oil Derivatives Division, situated at Plot.No.65 & 66, Export
 Promotional Industrial Park, Pashamylaram Village, Patancheru, Medak.
 
 b.  Personal Guarantees of the Promoter Directors and Equitable
 Mortgage of Collateral Securities owned by the Promoters and their
 Associates
 
 2.  IDBI
 
 a.  Pari passu and charge on current assets of the company.
 
 b.  Personal Guarantees of the Promoter Directors and Equitable
 Mortgage of Collateral Securities owned by the Promoters and their
 Associates
 
 q. Provision for Gratuity and Leave Encashment: The Company has not
 provided for Gratuity and Leave Encashment to Employees on accrual
 basis. However, in the opinion of management the amount involved is
 negligible and has no impact on Profit & Loss Account. It is further
 stated that the same will be accounted when it is paid.
 
 r. Employee Stock Option Plan: During the current year, the Company has
 not announced any Employee Stock Option plan (Previous Year: Nil).
 
 s. The balances of Sundry Debtors, Sundry Creditors and Loans &
 Advances are subject to confirmation from the parties.
 
 t.  Disclosure as per the provisions of the Micro, Small and Medium
 Enterprises Development Act, 2006:
 
 u.  Disclosure pursuant to clause 32 of Listing Agreement:
 
 Loans and Advances in the nature of Loans to subsidiaries: Current
 Year: Nil (Previous Year: Nil)
 
 v.  During this financial year the company has incorporated the under
 mentioned two subsidiaries
 
 1.  Swarnajyothi Agro & Exports India Private Limited
 
 2.  RPVS Renewable Energies Private Limited
 
 w. Additional Information pursuant to paragraphs 3 and 4 of part I! of
 Schedule VI of the Companies Act, 1956 - As certified by the
 management.