1.  ACCOUNTING CONCEPTS: The Accounts are prepared under historical
 cost convention, and mercantile system of accounting is followed.
 
 2.  DEPRECIATION : Depreciation is provided under the written down
 value method as per the rates specified in the Companies Act: 1956.
 
 3.  VALUATION STOCK OF MATERIALS etc.. : Stock of materials is valued
 at cost, work-in-progress have been valued including cost of materials
 and labour, transport charges.