1.  The Company did not have at any time during the year amount due to
 small and medium enterprises (SME) which is outstanding for more than
 45 days. Further no interest is paid / payable to such SME creditors.
 The above information and that given in Schedule 8 Current Liabilities
 and Provisionsregarding small and medium enterprises has been
 determined to the extent such parties have been identified on the basis
 of information available with the Company.
 
                                                   (Rs in million)
 
                                           As at            As at
 
                                       31st March      31st March
 
                                             2011            2010
 
 2.  Contingent liabilities not 
 provided for:
 
 i.  Guarantees given by Banks in 
 favour of Government and others           53.93            48.98
 
 ii.  Guarantees given by Company         596.65           647.00
 
 iii Disputed liabilities in respect 
 of Income Tax, Sales Tax, Central        542.50           323.80
 Excise and Customs (under appeal)
 
 iv Claims against the company not 
 acknowledged as debts.                    82.17            81.44
 
 3.  The Company had, in March 2009, exercised the option permitted by
 the Central Government under Notification No G.S.R 225 ( E) to treat
 foreign exchange difference relating to assets as adjustments in the
 carrying value of such depreciable assets and amortise other
 differences of a specified nature over the term of the relative item.
 Accordingly for the period ended 31st March 2011, the Company has
 credited the gam of Rs 1.99 million to the carrying cost of the
 depreciable assets and credited Rs 8,05 million to Foreign Currency
 Monetary Item Translation Account. Out of the said Foreign Currency
 Monetary Item Translation Account Rs 1.07 million has been amortised in
 the current year ended 31- March 2011.
 
 
 Notes:
 
 SEGMENT INFORMATION Business Segment
 
 The Company is operating into three business segments: Consumer &
 Bazaar Products, Industrial Products and Others.  This segmentation is
 based around customers.
 
 Consumer & Bazaar Products consist of mainly Adhesives, Sealants, Art
 Materials and Construction Chemicals.
 
 Industrial Products consists of Organic Pigments, Industrial Resins and
 Industrial Adhesives.
 
 Others consist of VAM manufacturing unit of Vinyl Chemicals (India) Ltd
 demerged into the Company wef 1st April 2007.
 
 Geographical Segment
 
 For the purpose of geographical segment the sales are divided into two
 segments: Sales within India and Sales to other countries.
 
 ii Key Management Personnel:
 
 Sarva Shri M B Parekh     - Managing Director, 
 
 N K Parekh                - Jr Managing Director, 
 
 A B Parekh and A N Parekh - Whole Time Directors, 
 
 Shri J L Shah             - Whole Time Director.
 
 
 iii Other Directors:
 
 Sarva Shri B K Parekh and S K Parekh
 
 4.  Research & development Expenditure
 
                                             2010-11         2009-10
 
 Capital expenditure included in fixed 
 assets                                        4.54            5.34
 
 Revenue expenditure charged to Profit & 
 Loss account                                105.96           91.64
 
 Total                                       110.50           96.98
 
 [Refer Notes 1(v) of Schedule 12]
 
 5.  Figures in bracket indicate previous years figures.
 
 6.  Previous years figures have been regrouped / rearranged wherever
 necessary.