a.  BASIS OF PREPARATION
 
 The financial statements have been prepared and presented under the
 historical cost convention on the accrual basis of accounting and
 comply with the Accounting Standards prescribed by Companies
 (Accounting Standards) Rules, 2006, as amended and other pronouncements
 of the Institute of Chartered Accountants of India (''ICAI'').
 
 All assets and liabilities have been classified as current or
 non-current as per the Companys'' normal operating cycle and other
 criteria set out in Schedule VI to the Companies Act, 1956.  Based on
 the nature of operations of the Company, the Company has ascertained
 its operating cycle as 12 months for the purpose of current/non-current
 classification of all assets and liabilities.
 
 b.  USE OF ESTIMATES
 
 The preparation of the financial statements is in conformity with
 Generally Accepted Accounting Principles (GAAP) and requires management
 to make estimates and assumptions that affect the reported amounts of
 income and expenditure for the period ended, assets and liabilities and
 disclosures of contingent liabilities on the date of the financial
 statements. The estimates and assumptions used in the accompanying
 financial statements are based upon management''s evaluation of relevant
 facts and circumstances as of the date of financial statement. Actual
 results could differ from those estimates. Any revision to accounting
 estimates is recognised prospectively in future periods.
 
 c.  FIXED ASSETS AND DEPRECIATION
 
 Tangible Fixed Assets are stated at cost of acquisition or construction
 less accumulated depreciation. The cost of fixed assets includes
 non-refundable taxes and levies, freight and other incidental expenses
 related to acquisition and installation, financing costs during the
 period of construction for qualifying assets .
 
 Depreciation on fixed assets is provided on Written Down Value Method
 at the rate and in the manner prescribed in Schedule XIV to the
 Companies Act, 1956. Depreciation on assets purchased/acquired during
 the year is charged from the date of purchase of the assets. Similarly
 depreciation on assets sold/discarded during the year is charged upto
 the date of sale of assets.
 
 d.  INVENTORIES
 
 a) Raw Materials, Stores & Spares, Work in Process and Finished Goods
 are valued at lower of cost or net realisable value.
 
 b) Cost for Raw materials is determined on FIFO basis, net of cenvat
 credit availed.
 
 c) Cost for Finished Goods and Work in Process Stock is determined
 taking material cost [net of cenvat credit availed] labour and relevant
 appropriate overheads and cenvat duty.
 
 d) Scrap, empty drums and replaced materials are valued at net
 realisable value.
 
 e.  INVESTMENTS
 
 Long-term (Non Current) investments are stated at cost. Provision is
 made for diminution in the value of the investments, if the same is
 considered to be other than temporary in nature.
 
 f.  REVENUE FROM OPERATION
 
 Revenue from operations includes sale of goods and works contract
 includes excise duty, adjusted for discounts (net), Value Added Tax
 (VAT).
 
 Sales of product are recognised when risk and rewards of ownership of
 the products are passed on to the customers, which is generally on
 despatch of goods. Revenue is recognized only when it can be reliably
 measured and it is reasonable to expect ultimate collection.Export
 sales are accounted on the basis of date of Bill of lading.
 
 g.  RECOGNITION OF OTHER ITEMS OF INCOME & EXPENDITURES
 
 Income and Expenditure are accounted for on accrual basis.
 
 h.  EMPLOYEE BENEFITS
 
 (i) Short term employee benefits
 
 All employee benefits falling due wholly within twelve months of
 rendering the services are classified as short term employee benefits,
 which includes benefits like salary, wages, short term compensated
 absences and bonus, are recognized as expenses in the period in which
 the employee renders the related service.
 
 (ii) Post-employment Benefits
 
 (a) Defined Contribution Plans
 
 The Company has Defined Contribution Plans for Post employment benefits
 in the form of Provident/Family Pension Fund for all employees which
 are administered by Regional Provident Fund Commissioner. Provident
 Fund and Family Pension Fund are classified as defined contribution
 plans as the Company has no further obligation beyond making the
 contributions. The Company''s contributions to Defined Contribution
 plans are charged to the Profit and Loss Statement as and when
 incurred.
 
 (b) Defined Benefit Plans
 
 Non-Funded Plan : The Company has a defined benefit plan for
 Post-employment benefit in the form of Gratuity. Liability for the
 above defined benefit plan is provided on the basis of valuation, as at
 the Balance Sheet date, carried out by an independent actuary.  The
 actuarial method used for measuring the liability is the Projected Unit
 Credit Method.
 
 (iii) Termination benefits are recognised as an expense as and when
 incurred.
 
 (iv) The Acturial gains and losses arising during the year, are
 recognised in the Profit and Loss Statement.
 
 (v) Provision is made for value of un-availed leaves due to employees
 at the end of accounting year on actual calculations.
 
 i.  FOREIGN CURRENCY TRANSACTIONS
 
 Transactions in foreign currency are accounted for at exchange rates
 prevailing on the date of the transaction. Foreign currency assets and
 liabilities (monetary items-trade receivables / trade payables) at the
 year-end are accounted for at year-end exchange rates and differences,
 if any, are adjusted in the Profit & Loss Statement. Exchange
 differences arising on settlement of monetary items (trade receivables
 / trade payables) are recognised as income or expense in the period in
 which the settlements are made.
 
 j. IMPAIRMENT OF ASSETS
 
 The Company evaluates the impairment losses on the fixed assets
 whenever events or changes in circumstances indicate that their
 carrying amounts may not be recoverable at the year-end in
 
 term of clause 5 to 13 of AS -28. If such assets are considered to be
 impaired the impairment loss is then recognised for the amount by which
 the carrying amount of the assets exceeds its recoverable amount.
 
 Recoverable amount is the higher of an 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 based on the appropriate
 discount factor.
 
 An impairment loss is charged to the Profit and Loss Statement in the
 year in which an asset is identified as impaired. The impairment loss
 recognized in prior accounting periods is reversed if there has been a
 change in the estimate of recoverable amount.
 
 k. BORROWING COST
 
 Interest and other costs in connection with the borrowings of the funds
 to the extents related/ attributed to the acquisition /construction of
 qualifying fixed assets are capitalised upto the date when such assets
 are ready for their intended use and other borrowing costs are charged
 to Profit and Loss Statement.
 
 l. TAXATION
 
 Tax expenses for the year comprising, current tax and deferred tax, are
 included in determining the net profit for the year. A provision is
 made for the current tax based on tax liability computed in accordance
 with relevant tax rates and tax laws. A provision is made for deferred
 tax for all timing differences arising between taxable income and
 accounting income at currently enacted or substantively enacted tax
 rates. Deferred tax assets are recognized only if there is reasonable
 certainty that they will be realized and are reviewed for the
 appropriateness of their respective carrying values at each Balance
 Sheet date.
 
 m. LEASES
 
 Where the Company is a Lessee
 
 Leases where the Lessor effectively retains substantially all the risks
 and benefits of ownership of the Leased Asset, are classified as
 ''Operating Leases. Lease rentals with respect to assets taken on
 ''Operating Lease'' are charged to Profit and Loss Statement on a
 straight line basis over the lease term.
 
 Leases which effectively transfer to the Company substantially all the
 risks and benefits incidental to the ownership of the leased item are
 classified as ''Finance Lease''. Assets acquired on Finance Lease which
 substantially transfer all the risks and rewards of ownership to the
 Company are capitalized as assets by the Company at the lower of the
 fair value and the present value of the minimum lease payment and a
 liability is created for an equivalent amount. Amortization of
 capitalized Leased asset is computed on Straight Line Method over the
 useful life of the asset .  Lease rentals payable is apportioned
 between the liability and finance charge so as to obtain a constant
 periodic rate of interest on the outstanding liability for each year.
 
 n. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
 
 Provisions involving substantial degree of estimation in measurements
 are recognized when there is a present obligation as a result of past
 event and it is probable that there will be an outflow of resources.
 Contingent liabilities are disclosed in respect of possible obligations
 that arises from past events but their existence is confirmed by the
 occurence or non occurence of one or more uncertain future events not
 wholly within the control of the Company. Contingent Assets are neither
 recognized nor disclosed in the financial statements.