a) Basis of Preparation of Financial Statements
 
 The financial statements have been prepared to comply in all material
 respects with the Accounting Standards notified by Companies
 (Accounting Standards) Rules, 2006, (as amended) and the relevant
 provisions of the Companies Act, 1956. The financial statements have
 been prepared in accordance with Generally Accepted Accounting
 Principles under the historical cost convention on an accrual basis and
 in accordance with the applicable accounting standards issued by The
 Institute of Chartered Accountants of India. The accounting policies
 have been consistently applied by the Company and except for the
 changes in accounting policy discussed more fully below, are consistent
 with those used in the previous year.
 
 The Company follows the mercantile system of accounting in general and
 recognizes income and expenditure on accrual basis except as otherwise
 stated.
 
 b) Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates. Differences between actual results and estimates
 are recognized in the period in which the results are known /
 materialized.
 
 C) Inventories
 
 Inventories are valued at lower of cost or net realizable value.
 Materials-in-transit are valued at cost-to-date. Cost comprises all
 cost of purchase, cost of conversion and other costs incurred in
 bringing the inventories to their present location and condition
 including excise duty payable on goods produced. Due allowance is
 estimated and made for defective and obsolete items, wherever
 necessary, based on the past experience of the Company. The cost
 formulae used for determination of cost is ''First in First Out''(FIFO)
 
 Net realizable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and estimated
 costs necessary to make the sale.
 
 d) Cash Flow Statement:
 
 The Cash Flow Statement is prepared by the indirect method set-out in
 Accounting Standard 3 on Cash Flow Statement and presents the Cash
 Flows by operating, investing and financing activities of the Company.
 
 Cash and cash equivalents presented in the Cash Flow Statement consist
 of cash on hand and unencumbered, highly liquid bank balances.
 
 e) Revenue Recognition
 
 (i) Revenue is recognised when it is earned and no significant
 uncertainty exists as to its realisation or collection.
 
 (ii) Revenue from sale of goods is recognized when all significant
 contractual obligations have been satisfied, the property in the goods
 is transferred for a price, significant risks and rewards of ownership
 are transferred to the customers and no effective ownership is
 retained. Sales are net of Sales Tax/Value Added Tax. Excise Duty
 recovered is presented as a reduction from gross turnover.
 
 (iii) Revenue in respect of export sales is recognized on the basis of
 dispatch of goods for exports.(i.e. on the date of Bill of Lading).
 
 (iv) Interest is recognised on a time proportion basis taking into
 account the amount outstanding and the rate applicable.
 
 (v) Dividend income is recognized when the shareholders'' right to
 receive payment is established by the balance sheet date. Dividend from
 subsidiaries is recognised even if same are declared after the balance
 sheet date but pertains to period on or before the date of balance
 sheet as per the requirement of schedule VI of the Companies Act, 1956.
 
 (vi) Other Income is accounted for on accrual basis, when certainty of
 receipt is established.
 
 f) Fixed Assets
 
 Fixed assets are stated at cost (or revalued amounts, as the case may
 be), less accumulated depreciation and impairment losses if any. Cost
 comprises the purchase price and any attributable cost of bringing the
 asset to its working condition for its intended use. Cost of
 acquisition comprise all costs incurred to bring the assets to their
 location and working condition upto the date assets are put to use.
 Cost of construction comprise of those costs that relate directly to
 specific assets and those that are attributable to the construction
 activity in general and can be allocated to specific assets upto the
 date the assets are put to use.
 
 g) Depreciation & Amortization
 
 Depreciation on fixed assets is provided on Straight-line method, at
 the rates and in the manner specified in Schedule XIV to the Companies
 Act, 1956. The Company provides pro-rata depreciation for additions /
 deletions made during the reporting period, except for the asset each
 costing Rs. 5000 or less, for which depreciation is provided at hundred
 percent.
 
 h) Impairment of Fixed Assets
 
 The carrying amounts of assets are reviewed at each balance sheet date
 if there is any indication of impairment based on internal/external
 factors. An impairment loss is recognized wherever the carrying amount
 of an asset exceeds its recoverable amount. The recoverable amount is
 the greater of the asset''s net selling price and value in use. In
 assessing value in use, the estimated future cash flows are discounted
 to their present value at the weighted average cost of capital.
 
 After impairment, depreciation is provided on the revised carrying
 amount of the asset over its remaining useful life.
 
 i) Foreign Currency Transactions
 
 (i) Initial Recognition
 
 Foreign currency transactions are recorded in the reporting currency,
 by applying to the foreign currency amount the exchange rate between
 the reporting currency and the foreign currency at the date of the
 transaction.
 
 (ii) Conversion
 
 Foreign currency monetary items are reported using the closing rate.
 Non-monetary items which are carried in terms of historical cost
 denominated in a foreign currency are reported using the exchange rate
 at the date of the transaction; and non- monetary items which are
 carried at fair value or other similar valuation denominated in a
 foreign currency are reported using the exchange rates that existed
 when the values were determined.
 
 (iii) Exchange Differences
 
 The gains or losses resulting from such translations are included in
 the Profit and Loss Account. Revenue, expense and cash flow items
 denominated in foreign currency are translated into the relevant
 functional currencies using the exchange rate in effect on the date of
 the transaction. Transaction gains or losses realized upon settlement
 of foreign currency transactions are included in determining net profit
 for the period in which the transaction is settled, except to the
 extent, relating to fixed assets are adjusted to carrying value of
 fixed assets.
 
 j) Investments
 
 Investments that are readily realizable and intended to be held
 generally for not more than a year are classified as current
 investment. All other investments are classified as long term
 investment. Current investment is carried at lower of cost and fair
 value determined on an individual investment basis. Long term
 investments are carried at cost. However, provision for diminution in
 value is made to recognise a decline other than temporary in the value
 of the Investment.
 
 k) Employee Benefits
 
 Employee benefits such as salaries, allowances, non-monetary benefits
 and employee benefits under defined contribution plans such as
 provident fund and other funds, which fall due for payment within a
 period of twelve months after rendering service, are charged as expense
 to the Profit and Loss Account in the period in which the service is
 rendered.
 
 Employee benefits under defined benefit plans, such as gratuity which
 fall due for payment after a period of twelve months from rendering
 service or after completion of employment, are measured by the project
 unit cost method, on the basis of actuarial valuation carried out by
 third party actuaries at each balance sheet date. The Company''s
 obligations recognized in the balance sheet represent the present value
 of obligations as reduced by the fair value of plan assets, where
 applicable. Actuarial gains and losses are recognized immediately in
 the Profit and Loss Account.
 
 I) Borrowing Cost
 
 Borrowing cost attributable to the acquisition or construction of
 qualifying assets, as defined in Accounting Standard 16 on Borrowing
 Costs are capitalized as part of the cost of such assets upto the date
 when the asset is ready for its intended use. Other borrowing costs are
 expensed as incurred.
 
 m) Segment Reporting
 
 Identification of segments:
 
 The Company''s operating businesses are organized and managed separately
 according to the nature of products and services provided, with each
 segment representing a strategic business unit that offers different
 products and serves different markets. The analysis of geographical
 segments is based on the areas in which major operating divisions of
 the Company operate.
 
 Inter segment Transfers:
 
 The Company generally accounts for inter segment transfers at cost.
 
 Allocation of common costs:
 
 Common allocable costs are allocated to each segment according to the
 relative contribution of each segment to the total common costs.
 
 Unallocated items:
 
 Includes general corporate income and expense items which are not
 allocated to any business segment.
 
 Segment Policies:
 
 The company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the company as a whole.
 
 n) Leases
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased items are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the Profit and Loss account on a straight- line basis over the lease
 term.
 
 o) Earnings per share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders (after
 deducting preference dividends and attributable taxes) by the weighted
 average number of equity shares outstanding during the period. The
 weighted average number of equity shares outstanding during the period
 are adjusted for events of bonus issue; bonus element in a rights issue
 to existing shareholders; share split; and reverse share split
 (consolidation of shares).
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares,
 except when the results would be anti-dilutive.
 
 p) Accounting For Taxation on Income
 
 Tax expense comprises of current and deferred tax. Current income tax
 is measured at the amount expected to be paid to the tax authorities in
 accordance with the Income-tax Act, 1961 enacted in India. Income taxes
 are accrued at the same period in which the related revenue and expense
 arise. A provision is made for income tax annually based on the tax
 liability computed after considering tax allowances and exemptions.
 Provisions are recorded when it is estimated that a liability due to
 disallowances or other matters is probable.
 
 The Company offsets, on a year to year basis, the current tax assets
 and liabilities, where it has a legally enforceable right and where it
 intends to settle such assets and liabilities on a net basis.
 
 Deferred income taxes reflects the impact of current year timing
 differences between taxable income and accounting income for the year
 and reversal of timing differences of earlier years.
 
 Deferred tax is measured based on the tax rates and the tax laws
 enacted or substantively enacted at the balance sheet date. Deferred
 tax assets and deferred tax liabilities are offset, if a legally
 enforceable right exists to set off current tax assets against current
 tax liabilities and the deferred tax assets and deferred tax
 liabilities relate to the taxes on income levied by same governing
 taxation laws. Deferred tax assets are recognised only to the extent
 that there is reasonable certainty that sufficient future taxable
 income will be available against which such deferred tax assets can be
 realised. In situations where the company has unabsorbed depreciation
 or carry forward tax losses, all deferred tax assets are recognised
 only if there is virtual certainty supported by convincing evidence
 that they can be realised against future taxable profits.
 
 The carrying amount of deferred tax assets are reviewed at each balance
 sheet date.  The company writes-down the carrying amount of a deferred
 tax asset to the extent that it is no longer reasonably certain or
 virtually certain, as the case may be, that sufficient future taxable
 income will be available against which deferred tax asset can be
 realised. Any such write-down is reversed to the extent that it becomes
 reasonably certain or virtually certain, as the case may be, that
 sufficient future taxable income will be available
 
 MAT paid in accordance with the tax laws, which give rise to the future
 economic benefits in the form of tax credit against future income tax
 liability, is not recognized as an asset in the Balance Sheet.
 
 q) Provisions, Contingent Liabilities & Contingent Assets
 
 Provisions involving a substantial degree of estimation in measurement
 are recognized when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent Liabilities are not recognized but are disclosed in the
 Financial Statements. Contingent Assets are neither recognised nor
 disclosed in the Financial Statements.