i.  General
 
 These Accounts have been prepared on historical cost basis. All
 expenses and income to the extent considered payable and receivable,
 unless stated otherwise, have been accounted for on Mercantile basis.
 
 ii.  Fixed Assets including Intangible assets and Depreciation
 
 Fixed Assets are stated on cost basis including the cost of
 installation where incurred. Depreciation on fixed assets (other than
 intangible assets) including computer software has been provided
 according to Straight Line Method on prorata basis at rates specified
 in schedule XIV of the Companies Act, 1956.
 
 Intangible assets comprising of product designs, technical know-how
 etc. are amortized over a period of ten years, the estimated minimum
 useful life of the related products.
 
 iii. Investments
 
 Long Term Investments are stated at cost. Provision for diminution in
 the value is made only if such a decline is other than temporary.
 
 iv.  Inventories
 
 The closing stock of Raw Materials, Packing Material & Accessories,
 Stores & Spares and Work in Process have been valued at cost while the
 Finished Goods have been taken at lower of cost or net realisable
 value.  These goods have been taken as per inventory taken, valued and
 certified by the management.
 
 v.  Provision for Current and Deferred Tax.
 
 Provision for current tax is made after taking into consideration
 benefits admissible under the provisions of the Income-tax Act, 1961.
 Deferred tax resulting from timing difference between book and
 taxable profit is accounted for using the tax rates and laws that are
 enacted or substantively enacted as on the balance sheet date. The
 deferred tax asset is recognised and carried forward only to the extent
 that there is a reasonable certainty that the asset will be realised in
 future.
 
 vi.  Provisions and Contingent Liabilities/Assets
 
 Provision in respect of present obligations arising out of past events
 are made in the accounts when reliable estimate can be made of the
 amount of the obligations. Contingent Liabilities, if material, are
 disclosed by way of notes to accounts. Contingent assets are not
 recognised or disclosed in the financial statements.
 
 vii. Employee benefits
 
 Company''s contribution to Government Administered Provident Fund and
 Employees'' State Insurance Corporation are charged to Profit & Loss
 Account.
 
 Defined benefit contributions in respect of gratuity are provided on
 the basis of actuarial valuation made at the end of the financial year.
 Actuarial gains or loss arising from such valuation are charged to
 revenue in the year in which they arise.
 
 viii.  Research & Development
 
 Expenditure on research & development which results in creation of
 capital assets is treated in the same way as expenditure on fixed
 assets. Other research & development expenditure is treated as deferred
 
 revenue expenditure for writing it off over the years when the benefit
 would be received.
 
 ix.  Revenue Recognition
 
 Sales (net of returns) are recognised at the point of dispatch of goods
 to customers and include excise duty but exclude sales taxes.
 
 x.  Foreign Currency transactions
 
 Foreign currency transactions are recorded at the rates of exchange
 prevailing on the date of the transactions.  Monetary items (assets and
 liabilities) denominated in foreign currency are translated into rupee
 at the exchange rates prevailing on the balance sheet date.
 
 The previous year figures have been regrouped / reclassified, wherever
 necessary to conform to the current year presentation.