(a) Basis of Accounting
 
 The financial statements have been prepared and presented under the
 historical cost convention on an accrual basis of accounting and in
 accordance with the provisions of the Companies Act, 1956 and
 accounting principles generally accepted in India and comply with the
 accounting standards prescribed in the Companies (Accounting Standards)
 Rules, 2006 issued by the Central Government, in consultation with the
 National Advisory Committee on Accounting Standards, to the extent
 applicable.
 
 (b) Use of estimates
 
 The preparation of financial statements in conformity with Indian GAAP
 requires management to make estimates and assumptions that affect the
 reported amounts of assets and liabilities and the disclosures of
 contingent liabilities on the date of financial statements. Actual
 results could differ from those estimates. Any revision to accounting
 estimates is recognized prospectively in current and future periods.
 
 (c) Fixed Assets and Depreciation/Amortization
 
 Tangible Assets
 
 (i) All fixed assets are stated at cost of acquisition less accumulated
 depreciation/amortization and impairment losses. The cost of fixed
 assets includes taxes (other than those subsequently recoverable from
 tax authorities), duties, freight and other incidental expenses related
 to the acquisition and installation of the respective assets.
 
 (ii) Assets costing individually up to Rs. 5000 are written off and
 those costing more than Rs. 5000 but up to US$ 5000 are fully
 depreciated in the year of purchase except that -
 
 multiple-like items the cost of which is over US$ 10000 in the
 aggregate; and
 
 unlike items of a capital nature within an asset category for large
 scale projects the aggregate cost of which exceeds US$ 10000 are
 considered as one asset and depreciated in accordance with the
 accounting policy stated in (iii) below.
 
 (iii) Depreciation/amortization for the year has been provided on
 straight line method at the higher of the rates determined by the
 Company based on the estimated useful life of the assets or the rates
 specified in Schedule XIV to the Companies Act, 1956. Depreciation on
 additions other than those stated in (ii) above is provided on a
 pro-rata basis from the month of capitalisation. Depreciation on
 deletions during the year is provided up to the month in which the
 asset is sold / discarded.
 
 (vi) Assets that have been retired from active use and held for
 disposal are stated at the lower of their net book value and net
 realisable value as estimated by the Company.
 
 Intangible Assets
 
 (i) Intangible assets comprises of trademarks. Trademarks are recorded
 at their acquisition cost and are amortised over the lower of their
 estimated useful life and period of ownership on straight line basis
 i.e. over a period of 3 years.
 
 (ii) Intangible assets comprises of cost of application software. Cost
 of Application Software are recorded at its acquisition cost and is
 amortized on straight-line basis over 3 to 5 years, which in
 managements estimate represents the period during which economic
 benefits will be derived from their use. Cost of Application Software
 not exceeding Rs. 50 lakhs is being charged to the Profit and Loss
 Account.
 
 (iii) Revenue expenditure on research and development is expensed as
 incurred. Capital expenditure on research and development is
 capitalised as fixed assets and depreciated in accordance with the
 depreciation policy of the Company.
 
 Impairment of Assets
 
 In accordance with Accounting Standard 28 (AS 28) on ‘Impairment of
 Assets where there is an indication of impairment of the Companys
 assets, the carrying amounts of the Companys assets are reviewed at
 each Balance Sheet date to determine whether there is any impairment.
 The recoverable amount of the assets (or where applicable that of the
 cash generating unit to which the asset belongs) is estimated at the
 higher of its net selling price and its value in use. Value in use is
 the present value of estimated future cash flows expected to arise from
 the continuing use of the assets and from its disposal at the end of
 its useful life. An impairment loss is recognised whenever the carrying
 amount of an asset or a cash- generating unit exceeds its recoverable
 amount.  Impairment loss is recognized in the Profit and Loss Account.
 
 (d) Foreign Currency Transactions
 
 Transactions in foreign exchange are accounted for at the standard
 exchange rates as determined by the Company on a monthly basis. The
 exchange differences arising on foreign exchange transactions settled
 during the year are recognized in the Profit and Loss Account of the
 year.
 
 Monetary assets and liabilities in foreign exchange, which are
 outstanding as at the year end, are translated at year end at the
 closing exchange rate and the resultant exchange differences are
 recognized in the Profit and Loss Account.
 
 (e) Investments
 
 Long-term investments are stated at cost less other than temporary
 diminution in value, determined separately for each individual
 investment.
 
 (f) Inventories
 
 Raw materials, work-in-process, finished goods, and packing materials
 are valued at the lower of weighted average cost and net realizable
 value. Cost of finished goods and work-in-process includes cost of
 materials, direct labour and an appropriate portion of overheads.
 Stores and maintenance spares are valued at average cost.
 
 The net realizable value of work-in-process is determined with
 reference to the selling price of related finished goods. Raw materials
 and other supplies held for use in production of inventories are not
 written down below cost except in cases where material prices have
 declined, and it is estimated that the cost of the finished products
 will exceed their net realizable value.
 
 Finished goods expiring within 90 days (near-expiry inventory) as at
 the Balance Sheet date have been fully provided for.
 
 (g) Samples
 
 Physicians samples are valued at standard cost, which approximates
 actual cost and are charged to the Profit and Loss Account when
 distributed.
 
 (h) Revenue Recognition
 
 Revenue from sale of goods is recognized when significant risks and
 rewards of ownership are transferred to the customers.  Sales are net
 of sales returns and trade discounts. Revenue from services is
 recognized as and when services are rendered and related costs are
 incurred, in accordance with the terms of the specific contracts.
 Interest income is recognized on time proportionate basis.
 
 (i) Employee Benefits
 
 Short-term employee benefits:
 
 All employee benefits payable wholly within twelve months of rendering
 the service are classified as short-term employee benefits. These
 benefits include compensated absences such as paid annual leave and
 sickness leave. The undiscounted amount of short-term employee benefits
 expected to be paid in exchange for the services rendered by employees
 is recognized as an expense during the period.
 
 Long Term employee benefits:
 
 (i) Defined contribution plan:
 
 The Companys contribution towards employees Super Annuation Plan is
 recognized as an expense during the period.  (ii) Defined benefit
 plans:
 
 Provident Fund:
 
 Provident Fund contributions are made to a Trust administered by the
 Trustees. Trust makes investments and is settling members claims.
 Interest payable to the members shall not be at a rate lower than the
 statutory rate. Liability is recognized for any shortfall in the plan
 assets vis-a-vis actuarially determined liability of the Fund
 obligation.
 
 Gratuity Plan:
 
 The Companys gratuity benefit scheme is a defined benefit plan. The
 Companys net obligation in respect of the gratuity benefit scheme is
 calculated by estimating the amount of future benefit that employees
 have earned in return for their service in the current and prior
 periods; that benefit is discounted to determine its present value, and
 the fair value of any plan assets is deducted.
 
 The present value of the obligation as at the Balance Sheet date under
 such defined benefit plan is determined based on actuarial valuation
 using the Projected Unit Credit Method by an independent actuary, which
 recognizes each period of service as giving rise to additional unit of
 employee benefit entitlement and measures each unit separately to build
 up the final obligation.
 
 The obligation is measured at the present value of the estimated future
 cash flows. The discount rates used for determining the present value
 of the obligation under defined benefit plan, are based on the market
 yields on Government securities as at the Balance Sheet date.
 
 Actuarial gains and losses are recognized immediately in the Profit and
 Loss Account.
 
 (iii) Other Long-term employment benefits:
 
 Compensated absences which are not expected to occur within twelve
 months after the end of the period in which the employee renders the
 related services are recognized as a liability at the present value of
 the defined benefit obligation as at the Balance Sheet date using
 Projected Unit Credit method by an independent actuary. The discount
 rates used for determining the present value of the obligation under
 defined benefit plan, are based on the market yields on Government
 securities as at the Balance Sheet date.
 
 (j) Leases
 
 Lease rentals under an operating lease, are recognized as an expense in
 the statement of Profit and Loss Account on a straight line basis over
 the lease term. Lease income from operating leases is recognized in the
 Profit and Loss Account on a straight line basis over the lease term.
 
 (k) Voluntary Retirement Scheme (VRS)
 
 Liability under the VRS is accrued on the acceptance of the
 applications of the employees under the VRS scheme issued by the
 Company and is charged to the Profit and Loss Account.
 
 (l) Taxation
 
 Income tax expense comprises current tax, deferred tax charge or credit
 and fringe benefits tax. Provision for current tax is based on the
 results for the 16 months period ended 31 March 2011, in accordance
 with the provisions of the Income Tax Act, 1961.
 
 The deferred tax charge or credit is recognized using substantively
 enacted rates. In the case of unabsorbed depreciation or carried
 forward losses, deferred tax assets are recognized only to the extent
 there is virtual certainty of realization of such assets. Other
 deferred tax assets are recognized only to the extent there is
 reasonable certainty of realization in future. Such assets are reviewed
 as at each Balance Sheet date to reassess realization.
 
 Fringe Benefits Tax is not applicable since April 2009.
 
 (m) Earnings per Share
 
 Basic and diluted earnings per share are computed by dividing the net
 profit after tax attributable to equity shareholders for the year, with
 the weighted number of equity shares outstanding during the year.
 
 (n) Provisions and Contingent Liabilities
 
 The Company creates a provision when there exists a present obligation
 as a result of a past event that probably requires an outflow of
 resources and a reliable estimate can be made of the amount of the
 obligation. A disclosure for a contingent liability is made when there
 is a possible obligation or a present obligation that may, but probably
 will not, require an outflow of resources. When there is a possible
 obligation or a present obligation in respect of which the likelihood
 of outflow of resources is remote, no provision or disclosure is made.
 Contingent assets are not recognized in financial statements.