1.  Contingent Liabilities as on 31st March, 2011 in respect of :-
 
                                                  (Rs. In Lacs)
 
 Sr.  Particulars                       Current Year    Previous Year
 
 a) Guarantees / Counter guarantees 
 issued (including Letters of Credit)      31,016.72        15,083.63
 
 b) Bills discounted and not matured        1,460.70           848.65
 
 c) ESI Liability                             175.25           154.58
 
 d) Consolidated Tax payable to 
 GIDC, Chhatral                                24.93            20.39
 
 e) Disputed Statutory Claims/levies 
 for which the Company has preferred
 appeal in respect of (excluding 
 interest leviable if any) :
 
 - Income tax                                  81.55            21.21
 
 - Excise Duty                              1,804.23         2,935.02
 
 - Central Sales Tax                           32.18                -
 
 2.  Estimated amount of contracts remaining to be executed on capital
 account (net of advances) and not provided for Rs. 3,916.44 Lacs (P.Y.
 Rs. 1,577.87 Lacs).
 
 3.  Loans and advances include amount due from an officer of the
 Company Rs. Nil (P.Y.Rs. Nil). The maximum amount outstanding at any
 time during the year Rs. Nil (P.Y. Rs.1.50 lacs).
 
 4.  The Company has paid premium of Rs. 31.80 Lacs (P.Y. Rs. 31.69
 Lacs) on Key Man Insurance Policy on the lives of Directors, which is
 included in Insurance Expenses.
 
 5.  By virtue of the option granted by notification no. 225 (E) dated
 31st March, 2009 issued by the Ministry of Corporate Affairs relating
 to limited relaxation in the provision of Accounting Standard-11 in
 respect of foreign Exchange differences on foreign currency loans, the
 Company has credited Rs. 75.57 Lacs to the carrying cost of assets on
 account of Foreign Exchange difference for the year 2010-11 (P.Y.
 credited Rs.1437.02 Lacs). The unamortised Foreign Exchange Difference
 is credit Rs. 134.35 Lacs (P.Y credit Rs.64.64 Lacs) at the year end.
 
 6.  a) In the opinion of the Directors, the current assets, loans and
 advances are approximately of the value stated, if realised in the
 ordinary course of the business and provisions for all known
 liabilities are adequate. The accounts of sundry creditors, loans and
 advances and sundry debtors are subject to confirmation and necessary
 adjustment, if any, will be made on their reconciliation and / or
 settlement.
 
 b) The amount of sundry debtors is net of Bills discounted of Rs.
 1460.70 Lacs (P.Y Rs. 848.65 Lacs) with bankers and therefore the same
 is not shown as liabilities.
 
 7. The Company is engaged in the business of Steel Tubes and Pipe and
 generation of power by Windmills. In accordance with the requirements
 of Accounting Standard 17, ‘Segment Reporting, issued by the Institute
 of Chartered Accountants of India, Companys business segments are
 considered primary reportable business segments.
 
 Generation and sale of power from seven wind mills for sale of power is
 treated as a separate Primary Reportable Segment.  Segments have been
 identified in line with Accounting Standard on Segment Reporting
 (AS-17) taking into account the nature of product and differential risk
 and return.
 
 8.  As required by Accounting Standard - AS 18 Related Parties
 Disclosures issued by The Institute of Chartered Accountants of India,
 the details are as follows :
 
 A Relationships
 
 (a) Key Management Personnel
 
 - Mr. Prakash M. Sanghvi – Managing Director
 
 - Mr. Jayanti M. Sanghvi – Whole time Director
 
 - Mr. Shanti M. Sanghvi– Whole time Director
 
 (b) Relatives of Directors
 
 - Mr. Manoj P. Sanghvi
 
 - Mr. Prashant J. Sanghvi
 
 - Mr. Nilesh P. Sanghvi
 
 (c) Enterprises over which any person described in (a) or (b) above is
 able to exercise significant influence
 
 - Ratnamani Food Products Private Ltd.
 
 - Ratnamani Marketing Private Ltd.
 
 9.  The Company has put in place a suitable system for identifying the
 vendors coming under the purview of the Micro, Small and Medium
 enterprises Development Act, 2006. Since the Company has not received
 any information in this regard from the vendors, disclosure relating to
 amounts unpaid as at the year end together with interest paid/payable
 under this Act could not be ascertained.
 
 10.  Additional information pursuant to the provisions of para 3 & 4
 (c), (d) of part II of Schedule VI to the Companies Act,1956 to the
 extent applicable to the Company and as certified by the Management and
 relied upon by the Auditors :
 
 A.  Licensed & Installed Capacities and Production
 
 a) Licensed Capacities N.A.
 
 11.  Deferred Tax Liability : Difference between books and income tax -
 mainly due to depreciation Rs. 5,368.19 Lacs (P.Y. Rs. 5,809.40 Lacs)
 
 12.  Derivative contracts entered into by the Company and outstanding
 as on 31st March, 2011
 
 For Hedging Currency and Interest Rate Related Risks :
 
 Nominal amounts of derivative contracts entered into by the Company and
 outstanding as at 31st March, 2011 amount to Rs. 8397.42 Lacs (P.Y. Rs.
 6394.48 Lacs).
 
 13. The previous years figures have been reworked, regrouped,
 rearranged and reclassified wherever necessary. Amounts and other
 disclosures for the preceding year are included as an integral part of
 the current year financial statements and are to be read in relation to
 the amounts and other disclosures relating to the current year.