1.  Basis of Preparation of Financial statements : The Financial
 Statements have been prepared in accordance with Indian Generally
 Accepted accounting principles (GAAP), generally under the historical
 cost convention on accrual basis except insurance, Interest on debtors
 and other claims receivable, which are accounted for on receipt/payment
 basis. GAAP comprises of mandatory Accounting Standards notified by
 companies (Accounting Standards) Rules 2006 and relevant provisions of
 the companies Act 1956, the Guidelines issued by ICAI and Securities
 and Exchange Board of India (SEBI). Accounting Policies have been
 consistently adopted except where a change in existing GAAP requires a
 change in accounting policy hitherto in use.
 
 2.  Use of Estimates : The presentation of financial statements
 requires estimates and assumptions to be made that affect the reported
 amount of assets and liabilities on the date of the financial
 statements and the reported amount of revenues and expenses during the
 reporting period. Difference between the actual results and the
 estimates are recognized in the period in which the results are
 known/materialised.
 
 3.  Fixed Assets, Intangible Assets and Depreciation :
 
 (i) (a) Fixed assets are stated at cost of acquisition or construction
 less depreciation. All cost relating to the acquisition & installation
 of fixed assets are capitalized.
 
 (b) Addition in Fixed assets is stated at cost net of VAT and Cenvat
 credit, Custom duty (where applicable). All cost relating to
 acquisition and installation of fixed asset are capitalized.
 
 (c) Agricultural land is shown at cost price.
 
 (ii) Revalued assets are recorded at revalued amount less depreciation
 on revalued amount.
 
 (iii) (a) Depreciation on fixed assets is provided on written down
 value basis at the rates and in the manner prescribed in Schedule XIV
 of Companies Act, 1956. Depreciation in respect of revalued amount, the
 additional depreciation attributable to revaluation is withdrawn from
 revaluation reserve. Depreciation on addition in fixed assets has been
 adjusted after deducting the amount of excise duty & VAT availed as
 Cenvat and VAT set off.
 
 (b) Depreciation on assets added/disposed off during the year has been
 provided on prorata basis with reference to date of addition/disposed
 except for items on which 100% depreciation rate are applicable.
 
 (iv) Fixed assets acquired in exchange or in part exchange for another
 asset are recorded at the net book value of the assets given up,
 adjusted for any balancing payment or receipt of cash or other
 consideration.
 
 (v) Capital Assets under erection/installation/construction are
 reflected in the Balance sheet as Capital Work in Progress.
 
 4.  Purchases : Purchase of all Raw materials, Aluminium wire Rods,
 glassine paper, packing material, Oil & Lubricants, Gas Cylinder,
 production, mechanical & Electrical stores, Polythene and polyester
 film & paper are accounted for on basic price & CST. Cenvat and VAT on
 purchase of these items are shown as Cenvat recoverable & VAT
 recoverable is adjusted against the Excise/Sales Tax liabilities.
 
 5.  Investments : Short term investments are stated at cost or market
 price, whichever is lower.
 
 Long term Investments are stated at cost. Provision for diminution in
 the value of long-term investments is made only if such a decline is
 other than temporary in the opinion of the management.
 
 Dividends reinvested are added to the cost of investments on the NAV of
 the date of distribution of dividend by mutual funds.
 
 6.  Inventories & Other Current Assets :
 
 Inventories as taken and certified by the management are valued as
 under:
 
 (a) Raw materials, dyes & Chemicals : At cost excluding cenvat credit
 and VAT.  packing material, Polyester Film, Paper and Polythene
 
 (b) Production, Electrical, Mechanical and : At cost excluding cenvat
 credit & VAT consumable store & spares
 
 (c) Oil & lubricants : At cost excluding excise duty except HSD.
 
 (d) Work in process : At estimated cost (valued as certified by the
 management.)
 
 (e) Aluminium wire rods : At cost or market price whichever is lower.
 
 (f) Scrap & rejected goods : At net realizable value determined by
 management.
 
 (g) Finished goods : Valuation of finished goods Manufactured but not
 cleared from excise bonded warehouse up to the end of the year is at
 cost or market price, whichever is lower inclusive of Excise Duty.
 (Cost price estimated by deducting approx 8.75% from the selling
 price).
 
 (h) Stock at port & in transit : At Selling price
 
 (i) Stock in transit/ware house (Purchase) : At purchase price
 including clearing expenses and custom duty paid.
 
 (j) DEPB licences Purchased : At cost.
 
 (k) Gas Cylinder : At cost
 
 (l) Returned Material outside factory : At Net Realisable Value on the
 basic sale price solder at price certified by management. 
 
 (m) Stock with Consignment Agent : At cost (estimated by deducting 
 8.75% from the selling price) plus excise and expenses as per Invoice.
 
 Note: The cost of raw materials, dyes, chemicals, packing material, oil
 & lubricant and consumable stores are arrived at on first in first out
 method and in the case of basic raw material, freight inward expenses
 have also been considered.
 
 7.  Expenditure :
 
 (a) All other expenses are accounted for on accrual basis and
 consumption of stores has been taken on actual consumption.
 
 (b) Power unit generated from Enercon wind power plant which has been
 wheeled for captive consumption after adjusting wheeling charges @ 10%
 of the energy fed into grid to RVPNL Discom(s) is accounted on
 effective tariff rate in power bill and simultaneously such figure was
 also reflected in other operating revenue.
 
 8.  Employee Benefits :
 
 (a) Defined contribution plans : The Company''s contribution to
 provident fund is considered as defined contribution plans and are
 charged as an expense as they fall due based on the amount of
 contribution required to be made.
 
 (b) Defined benefit plans : Gratuity payable to employees is provided
 for on the basis of premium paid under group gratuity Scheme with Life
 Insurance Corporation of India.
 
 Provision of Leave encashment has been made on accrual basis on leave
 un-availed balance available as on 31.03.2012.
 
 Service Awards have been adjusted/accounted on the basis of completed
 months.
 
 (c) Short-term employee benefits : Short term employee benefits are
 recognised as an expense at the undiscounted amount in the statement of
 profit and loss for the year in which the related service is rendered.
 
 9.  Borrowing Costs : Borrowing costs that are attributable to the
 acquisition or construction of qualifying assets are capitalized as
 part of the cost of such assets. A qualifying asset is one that
 necessarily takes substantial period of time to get ready for intended
 use. All other borrowing costs are charged to revenue.
 
 10.  Revenue Recognition :
 
 (a) Sales are inclusive of Cenvat but are net of Sales returns,
 Shortages and other discounts & rebates but excluding value of
 recoveries made for insurance, freight and packing forwarding expenses,
 which have been shown in the invoice value and are adjusted in the
 respective heads.
 
 (b) Discount and rebates on sales is accounted for as and when settled.
 
 (c) Export sales are accounted for on the basis of exchange rate on
 date of transactions and recognized only when export goods leaves the
 territory of India.
 
 (d) Revenue from investment is accounted on sale/disposal of such
 investments.
 
 (e) Export Incentive: (i) Revenue from DEPB Licences is recognised when
 the licences are sold/utilized and are shown as other operating
 revalue. (ii) Revenue of duty drawback has been accounted on accrual
 basis.
 
 (f) Units generated on Enercon wind power plant has been accounted on
 the basis of effective tariff rate in respective month. Units generated
 on Suzlon wind power plant has been accounted at contract price
 
 (g) Interest receivable from debtor and dividend from investment are
 considered on receipt basis.
 
 (h) The Company has purchased DEPB Licenses from market at discounts
 and the same has been shown as Discounts received on purchase of DEPB
 in other income.
 
 11.  Transaction in Foreign Currencies (Other than for fixed assets) :
 Transactions denominated in foreign currencies are normally recorded at
 the exchange rate prevailing at the time of the transaction. Gain/Loss
 arising out of fluctuation in between transaction date and realization
 date are recognized in statement of profit & loss.
 
 All foreign currency Monetary items at the year-end which not covered
 by foreign exchange contracts are translated at year-end rates.
 
 The difference between the foreign exchange contract rate and the
 exchange rate on the date of transaction is recognized as income or
 expenditure over the life of the contract.
 
 Foreign Exchange Gain/Loss of buyer''s credit taken from foreign bank
 has been recognized at the date of transaction and recognized in
 statement of profit & loss.
 
 12.  Impairment of Assets :
 
 All assets other than inventory, investment or deferred tax assets are
 reviewed for impairment where event or changes in circumstances
 indicate that the carrying amount may not be recoverable. Assets whose
 carrying amount exceeds their recoverable amount will be written down
 to recoverable amount. An impairment loss is charged to the statement
 of Profit and Loss in the year in which an asset is identified as
 impaired.
 
 13.  Cenvat and VAT :
 
 The value of Cenvat and VAT benefits eligible on raw materials, other
 eligible inputs, production stores and capital goods is considered for
 the clearances of finished goods
 
 14.  Accounting of Taxes on Income :
 
 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 differences between book and
 taxable profit is accounted for using the tax rates and laws that have
 been enacted or substantively enacted as on the balance sheet date. The
 deferred tax asset is recognized and carried forward only to the extent
 that there is a reasonable certainty that the asset will be realized in
 future.
 
 15.  Contingent Liabilities :
 
 The company is not providing for contingent liabilities in the account
 since the ultimate outcome thereof cannot be determined on the date of
 balance sheet. However, notes on every contingent liabilities exist on
 the date of balance sheet are given in notes on account. Contingent
 assets are neither recognized nor disclosed in the balance sheet.
 
 16.  Earnings Per Share :
 
 Basic and diluted earning 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.
 
 17.  Lease:
 
 Lease rentals under an operating lease, are recognized as an expenses
 in the statement of Profit & Loss on a straight line basis over the
 lease term.  Lease Income from Operating lease is recognized in
 statement of Profit & Loss on a Straight line basis over the Lease
 Term.