1.  Nature of Operations
 
 Repro India Limited (the Company) is engaged in the business of
 commercial printing which includes printing of Annual reports,
 Booklets, Brochures, Calendars, House Journals, Magazines, Educational
 books, etc. The Company provides print solutions to client, which
 mainly includes value engineering, creative designing, pre-press,
 printing, post-press, knitting and assembly, warehousing, dispatch,
 database management, sourcing and procurement, localization and web
 based services.
 
 2.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for (net of advances) Rs. 191,822,100 (Previous
 yearRs. 8,670,749).
 
 3.  Contingent liabilities
 
 a.  Guarantees given by banks on behalf of the Company Rs. 33,292,689
 (Previous year Rs. 49,843,939).
 
 b.  Invoices factored and outstanding Rs. Nil (Previous year Rs. 379,964)
 
 c.  Letter of Credit opened during the year, remained unutilized as on
 March 31, 2011 Rs. 76,787,830 (Previous year Rs. 2,735,344)
 
 d.  Claim against the Company not acknowledged as debts pertaining to
 supply of raw material Rs. 1,770,882 (Previous year Rs. 1,770,882) plus
 interest not quantified and Claim against the Company not acknowledged
 as debts pertaining to realization of export invoices Rs. 6,514,445
 (Previous yearRs. Nil) plus interest not quantified.
 
 e.  As against the Cenvat refund claim of Rs. 20,484,268 for the period
 April 2007 to December 2007, the Company received a refund of Rs.
 17,340,854. The Company had preferred an appeal against the aforesaid
 deduction of Rs. 3,143,414 and subsequently, the appeal has also been
 initiated by the Excise Authorities for the refund so granted. The
 Cenvat Refund for the subsequent period from January 2008 to June 2010
 aggregating to Rs. 39,987,258 is outstanding as receivable from Excise
 Authorities as on March 31, 2011. Based on the legal advice sought in
 this regard by the Company, the Company is confident of a favorable
 decision in respect of these litigations and does not foresee any
 liability in this regard and is accordingly confident of the full
 realization of the outstanding receivable. However, as a matter of
 abundant caution, pending final decision in this regard, the total
 amount of Rs. 57,328,112 (including the refund of Rs. 17,340,854, which has
 been received, and may have to be refunded in case of an unfavorable
 outcome) has been included under contingent liabilities.
 
 4.  Particulars of security provided against secured loans
 
 a.  Foreign Currency Term loans from Standard Chartered Bank and DBS
 Bank Ltd. are secured by pari passu first charge by way of
 hypothecation on all the movable fixed assets, both present and future,
 excluding assets exclusively charged to other lenders.
 
 b.  Working Capital Facilities from banks are secured by hypothecation
 of stock, entire book debts, receivables and other current assets of
 the Company both present and future ranking pari passu with all banks.
 The facilities from State Bank of Travancore and ING Vysya Bank Ltd are
 further partly secured by second charge on the fixed assets of the
 Company ranking pari passu with all banks.
 
 c.  Limit of Letter of Credit (IC) for Capital expenditures from Axis
 Bank Limited and Standard Chartered Bank are secured by pari passu
 first charge on all present and future movable fixed assets including
 plant and machinery and furniture & fixtures, to secure this LC Limit.
 
 d.  Vehicle Loans are secured by way of assets acquired under hire
 purchase agreements.
 
 e.  Buyers Credit is secured pari passu first charge on current assets
 of the company, both present and future.
 
 5.  Segment information
 
 (i) Business Segment:
 
 The Company operates in a single business segment of Value Added Print
 Solutions and hence there are no separate reportable segments for the
 Company.
 
 Notes:
 
 The following is the general description of significant clauses of the
 above finance lease agreement.
 
 a.  During the period of lease, the Company cannot create without prior
 written consent of the lender any other debt nor any mortgage, pledge,
 hypothecation, charge, lien or encumbrance upon or in respect of
 hypothecated assets or any part thereof in any manner whatsoever in
 favour of any person, firm, company or bank.
 
 b.  The assets would belong to the Company solely and absolutely and
 would be free from any and all charges and encumbrances save and except
 that created in favour of the lender.
 
 c.  The aggregate carrying amount of assets acquired under lease [class
 of asset - vehicles] after April 1, 2001 is X12,765,713 as at March 31,
 2011 (Previous year X 18,372,587).
 
 6.  a.  The Transport and Courier charges of Rs. 63,854,454 (Previous
 year Rs. 39,297,640) are net of recovery of Rs. 797,766 (Previous
 
 Year Rs. 276,182). Packing Material Consumed of Rs. 7,672,366 (Previous
 year Rs. 5,623,334) is net of packing income of Rs. Nil (Previous yearRs.
 1,663,560).
 
 b.  Mailing expense recovery of Rs. 283,520 (Previous year Rs. 428,695) is
 net of recovery of Rs. 1,500,723 (Previous year Rs. 1,784,326).
 
 7.  The information regarding Micro, Small and Medium Enterprises has
 been determined to the extent such parties have been identified on the
 basis of information available with the Company. The following
 suppliers are registered as Micro, Small, or Medium Enterprises as at
 March 31, 2011 in terms of provisions of The Micro Small and Medium
 Enterprises Development Act, 2006:
 
 8.  a.  Fixed assets/ Capital work in progress includes personnel
 expenses capitalised of Rs. Nil (Previous year Rs. 18,918,717) for
 implementation of the ERP package.
 
 b.  Fixed assets/ Capital work in progress includes travelling and
 conveyance expenses capitalised of Rs. 1,353,628 (Previous year Rs.
 10,323,789) for implementation of ERP package and Enterprise Content
 Management Project.
 
 a.  Quantitative details of goods manufactured: i.  Particulars of
 goods manufactured
 
 - Class of goods manufactured - Printed products include annual
 reports, calendars, house journals, magazines and other periodicals, IT
 books and other educational books, booklets and brochures, etc.
 
 - The actual production of printed books during the year was
 218,919,581 nos. (Previous year 77,270,922 nos.) and that of other
 printed material was 3,685,968 nos. (Previous year 2,093,930 nos.) This
 has been certified by the Management and accepted by the Auditors being
 a technical matter.
 
 - Sales include major sales of printed books 218,919,581 nos. (Previous
 year 77,270,922 nos.) valuing Rs. 2,497,638,470 (Previous Year Rs
 1,909,715,774) leaving balance sales of other printed and non printed
 material valuing Rs. 56,560,255 (Previous Year Rs. 69,209,236)
 
 iii.  Licensed capacity, installed capacity and production: (as
 certified by Management)
 
 The printing industry is delicensed. The installed capacity as on March
 31,2011, is approximately 34,000 MT (Previous year 31,000 MT) per annum
 considering 300 average working days per annum and considering average
 GSM paper consumed at various printing machines.
 
 (i) Defined Benefit Plans:
 
 The Company has a defined benefit gratuity plan. Every employee who has
 completed five years or more of service gets a gratuity on departure at
 15 days salary (last drawn salary) for each completed year of service.
 The scheme is funded with an insurance company in the form of a
 qualifying insurance policy.
 
 Notes:
 
 1.  The estimates of future salary increases, considered in actuarial
 valuation, takes account of inflation, seniority, promotion and other
 relevant factors such as supply and demand in the employment market.
 
 2.  The disclosure in respect of status of defined benefits obligation
 have been given for three years, since the Company has adopted AS 15
 (Revised) in the year 2009.
 
 (ii) Defined Contribution Plans
 
 Amount of Rs. 12,280,358 (Previous Year: Rs. 9,737,277) is recognised as an
 expense and included in Schedule - Contribution to Provident and Other
 Funds in the Profit and Loss account.
 
 9.  Previous years figures have been regrouped wherever necessary to
 conform to this years classification.