1.1 Change in presentation and disclosure of financial statements
 
 During the year ended 30 September 2012, the revised schedule VI
 notified under the Companies Act, 1956, has become applicable to the
 Company for preparation and presentation of its financial statements.
 The adoption of revised schedule VI does not impact recognition and
 measurement principles followed for preparation of financial statements.
 However, it has significant impact on presentation and disclosures made
 in the financial statements. Previous year figures have been reclassified
 in accordance with the requirements applicable in the current year.
 
 1.2 Use of estimates
 
 The preparation of financial statements in conformity with the Indian
 GAAP requires management to make estimates and assumptions that affect
 the reported amounts of assets and liabilities and the disclosure of
 contingent liabilities on the date of the financial statements. Actual
 results could differ from those estimates. Any revision to accounting
 estimates is recognised prospectively in current and future periods.
 
 1.3 Tangible fixed assets and depreciation
 
 Fixed assets are stated at cost of acquisition or revalued amounts less
 accumulated depreciation. The cost of fixed assets includes taxes,
 duties, freight and other incidental expenses related to the
 acquisition and installation of the respective assets.
 
 Depreciation is provided on the straight-line method (''SLM''). The
 depreciation rates prescribed in Schedule XIV to the Act are considered
 as the minimum rates. If the management''s estimate of the useful life
 of a fixed asset at the time of acquisition of the asset or of the
 remaining useful life on a subsequent review is shorter than that
 envisaged in the aforesaid Schedule, depreciation is provided at a
 higher rate based on the management''s estimate of useful life/remaining
 life.
 
 Diagnostics equipment''s are being treated as raw traded items of
 inventory when they are received. However, if these instruments are
 issued from inventory to customers under placement agreement, these are
 treated as capital asset in the period of such issues and are stated at
 cost less accumulated depreciation.
 
 Where depreciable assets are revalued, depreciation is provided on the
 revalued amount and the additional depreciation on accretion to assets
 on revaluation is transferred from revaluation reserve to the statement
 of profit and loss.
 
 Assets costing less than Rs. 5,000 are fully charged to the statement of
 profit and loss in the year of acquisition.
 
 Items of fixed assets that have been retired from active use and are
 held for disposal are stated at the lower of their net book value and
 estimated net realizable value and are disclosed separately in the
 financial statements.
 
 Capital work-in-progress includes the cost of fixed assets that are not
 ready to use at the balance sheet date.
 
 1.4 Intangible assets
 
 Intangible assets comprise goodwill, software and technical know-how.
 These intangible assets are amortised on straight- line basis based on
 the following useful lives, which in management''s estimate represents
 the period during which economic benefits will be derived from their
 use:
 
 Asset            Useful life
 
 Goodwill         36 - 60 months
 
 Software         36 months
 
 Technical know-
 how              60 - 120 months
 
 1.5 Impairment of assets
 
 The Company assesses at each balance sheet date whether there is any
 indication that an asset or a group of assets (cash generating unit)
 may be impaired. If any such indication exists, the Company estimates
 the recoverable amount of the asset or cash generating unit.
 
 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 the present value using a pre-tax discount rate
 that reflects current market assessments of the time value of money and
 the risks specific to the asset. If such recoverable amount of the asset
 or the recoverable amount of the cash-generating unit to which the
 asset belongs is less than its carrying amount, the carrying amount is
 reduced to its recoverable amount. The reduction is treated as an
 impairment loss and is recognized in the statement of profit and loss.
 If at the balance sheet date there is an indication that a previously
 assessed impairment loss no longer exists, the recoverable amount is
 reassessed and the asset is reflected at the recoverable amount subject
 to a maximum of depreciable historical cost, had no impairment been
 recognised.
 
 1.6 Investments
 
 Investments that are readily realizable and intended to be held but not
 more than a year are classified as current investments. All other
 investments are classified as long term investments.
 
 Long-term investments are carried at cost. Provision for diminution is
 made to recognize a decline, other than temporary in value of long-term
 investments and is determined separately for each individual
 investment. Current investments are carried at lower of cost and fair
 value, computed separately in respect of each category of investment.
 
 Investment property
 
 An investment in land or buildings, which is not intended to be
 occupied substantially for use by, or in the operation of, the Company,
 is classified as investment property. Investment properties are stated
 at cost, net of accumulated depreciation and accumulated impairment
 losses, if any.
 
 The cost comprise purchase price, borrowing costs if capitalisation
 criteria are met and directly attributable cost of bringing the
 investment property to its working condition for the intended use. Any
 trade discounts and rebates are deducted in arriving at the purchase
 price.
 
 Depreciation on investment property is calculated on a straight line
 basis based on the useful lives estimated by the management or that
 prescribed under the schedule XIV to the Act, whichever is higher. The
 Company has used depreciation rate of 1.39% - 3.45%.
 
 On disposal of an investment, the difference between its carrying
 amount and net disposal proceeds is charged or credited to the
 statement of profit and loss.
 
 1.7 Revenue recognition
 
 Revenue is recognised to the extent it is probable that the economic
 benefits will flow to the Company and the revenue can be reliably
 measured.
 
 Revenue from sale of products is recognised on transfer of all
 significant risk and rewards of ownership of the products on to the
 customers, which is generally on dispatch of goods. Sales are stated
 exclusive of sales tax and net of trade and quantity discount.
 
 Revenue from services is recognised as per the terms of the contract
 with the customer using the proportionate completion method.
 
 Revenue from services represents service income other than from
 services which are incidental to sale of products and projects.
 
 Income from fixed price construction contracts is recognised by
 reference to the estimated overall profitability of the contract under
 the percentage of completion method. Percentage of completion is
 determined as a proportion of the costs incurred up to the reporting
 date to the total estimated contract costs. Contract revenue earned in
 excess of billing has been reflected as Project Excess Cost under
 Other current assets  and Billing in excess of contract revenue has
 been reflected under Current Liabilities in the balance sheet.
 Provision for expected loss is recognized immediately when it is
 probable that the total estimated contract costs will exceed total
 contract revenue.
 
 Commission income is recognised when proof of shipment is received from
 the supplier.
 
 Dividend income is recognised when the right to receive the dividend is
 established.
 
 Interest income is recognised on the time proportion basis.
 
 Export incentives receivable are accrued for when the right to receive
 the credit is established and there is no significant uncertainty
 regarding the ultimate collection of export proceeds.
 
 1.8 Inventories
 
 Inventories comprise all costs of purchase, conversion and other costs
 incurred in bringing the inventories to their present location and
 condition.
 
 Raw materials are valued at the lower of cost and net realizable value.
 Cost is determined on the basis of the weighted average method.
 
 Work-in-progress and finished goods are valued at the lower of cost and
 net realisable value. Excise duty is included in the value of finished
 goods inventory. Cost is determined on a weighted average basis.
 
 The net realisable value of work-in-progress is determined with
 reference to the estimated selling price less estimated cost of
 completion and estimated costs necessary to make the sale of related
 finished goods. Raw materials held for the production of finished goods
 are not written down below cost except in case where material prices
 have declined and it is estimated that the cost of the finished product
 will exceed its net realisable value.
 
 1.9 Leases
 
 Where the Company is the lessee:
 
 Leases where the lessor effectively retains substantially all the risk
 and benefits of ownership of the leased items are classified as operating
 leases. Lease payments under an operating lease, are recognised as an
 expense in the statement of profit and loss on a straight line basis
 over the lease term.
 
 Where the Company is the lessor:
 
 Assets subject to operating leases are included in fixed assets. Lease
 income is recognised in the statement of profit and loss on a
 straight-line basis over the lease term. Costs, including depreciation
 are recognised as an expense in the statement of profit and loss.
 Initial direct costs such as legal costs, brokerage costs, etc. are
 recognised immediately in the statement of proof and loss.
 
 1.10 Employee benefits
 
 (a) Short term employee benefits
 
 All employee benefits payable wholly within twelve months of rendering
 the service are classified as short-term employee benefits. Benefits such
 as salaries, wages and short term compensated absences, etc. and the
 expected cost of ex-gratia is recognised in the period in which the
 employee renders the related service.
 
 (b) Post-employment benefits
 
 (i) Defend Contribution Plans: The Company''s approved superannuation
 scheme and employee state insurance scheme are defined contribution
 plans. The Company''s contribution paid/payable under the schemes is
 recognised as expense in the statement of profit and loss during the
 period in which the employee renders the related service.
 
 (ii) Defend Benefit Plans and other Long Term Benefits: The Company''s
 provident fund, gratuity, pension and medical benefit schemes are defined
 benefit plans. Leave wages, silver jubilee and star awards are other
 long term benefits. The present value of the obligation under such
 defined benefit plans and other long term benefits are determined based on 
 
 actuarial valuation using the Projected Unit Credit Method, which
 recognises each period of service as giving rise to additional unit of
 employee benefit entitlement and measures each unit separately to build
 up the final obligation.
 
 1.10 Employee benefits (continued)
 
 Provision for leave wages, pension, medical benefit, silver jubilee and
 star awards which is expected to be utilized within the next 12 months
 is treated as short term employee benefits and beyond 12 months as long
 term employee benefits. For the purpose of presentation, the allocation
 between short and long term provisions has been made as determined by
 an actuary.
 
 Actuarial gains and losses are recognised immediately in the statement
 of profit and loss.
 
 1.11 Foreign currency transactions
 
 The Company is exposed to currency fluctuations on foreign currency
 transactions. Transactions denominated in foreign currency are recorded
 at the exchange rate prevailing on the date of transactions.
 
 Exchange differences arising on foreign exchange transactions settled
 during the year are recognized in the statement of profit and loss of
 the year.
 
 Translation
 
 Monetary assets and liabilities in foreign currency, which are
 outstanding as at the year-end, are translated at the year-end at the
 closing exchange rate and the resultant exchange differences are
 recognized in the statement of profit and loss. Non-monetary items are
 stated in the balance sheet using the exchange rate at the date of the
 transaction.
 
 Derivative instruments
 
 The Company''s exposure to foreign currency fluctuations relates to
 foreign currency assets, liabilities and forecasted cash flows. The
 Company limits the effects of foreign exchange rate fluctuations by
 following established risk management policies including the use of
 derivatives. The Company enters into forward exchange contracts, where
 the counterparty is a bank.
 
 As per Accounting Standard (''AS'') 11 – ''The Effects of Changes in
 Foreign Exchange Rates'', the premium or the discount on forward
 exchange contracts not relating to firm commitments or highly probable
 forecast transactions and not intended for trading or speculation
 purpose is amortized as expense or income over the life of the
 contract. All other derivatives, which are not covered by AS 11, are
 measured using the mark-to-market principle with the resulting gains /
 losses thereon being recorded in the statement of profit and loss.
 
 Hedge Accounting
 
 The Company uses foreign currency forward contracts to hedge its risks
 associated with foreign currency fluctuations relating to highly
 probable forecast transactions. The Company designates some of the new
 forward contracts in a cash flow hedging relationship by applying the
 hedge accounting principles.
 
 These forward contracts are stated at fair value at each reporting
 date. Changes in the fair value of these forward contracts that are
 designated and effective as hedges of future cash flows are recognised
 directly in Cash Flow Hedge Reserve under Reserves and Surplus, net of
 applicable deferred income taxes and the ineffective portion is
 recognised immediately in the statement of profit and loss.
 
 Amounts accumulated in Cash Flow Hedge Reserve are reclassified to profit
 and loss in the same periods during which the forecasted transaction
 materializes.
 
 Hedge accounting is discontinued when the hedging instrument expires or
 is sold, terminated, or exercised, or no longer qualifies for hedge
 accounting. For forecasted transactions, any cumulative gain or loss on
 the hedging instrument recognised in Hedging Reserve Account is
 retained there until the forecasted transaction occurs.
 
 If the forecasted transaction is no longer expected to occur, the net
 cumulative gain or loss recognised in Cash Flow Hedge Reserve is
 immediately transferred to the statement of profit and loss for the
 period.
 
 1.12 Taxation
 
 Income-tax expense comprises current tax (i.e. amount of tax for the
 year determined in accordance with the income-tax law), deferred tax
 charge or credit (reflecting the tax effect of timing differences
 between accounting income and taxable income for the year) computed in
 accordance with the relevant provisions of the Income Tax Act, 1961.
 The deferred tax charge or credit and the corresponding deferred tax
 liabilities or assets are recognised using the tax rates that have been
 enacted or substantively enacted by the balance sheet date. Deferred
 tax assets are recognised only to the extent there is reasonable
 certainty that the asset can be realised in future; however, where
 there is unabsorbed depreciation or carried forward loss under taxation
 laws, all deferred tax assets are recognised only if there is a virtual
 certainty supported by convincing evidence of realisation of the
 assets. Deferred tax assets are reviewed as at each balance sheet date
 and written down or written-up to reflect the amount that is
 reasonable/virtually certain (as the case may be) to be realised.
 
 1.13 Earnings per share
 
 Basic and diluted earnings per share is computed by dividing the net
 profit attributable to equity shareholders for the year, by the weighted
 average number of equity shares outstanding during the year.
 
 1.14 Provision
 
 Provisions are recognized when the Company recognises it has a present
 obligation as a result of past events, it is probable that an outflow of
 resources embodying economic benefits will be required to settle the
 obligation and a reliable estimate can be made of the amount of the
 obligation. Provisions are not discounted to its present value and are
 determined based on best estimate required to settle the obligation at
 the balance sheet date. These are reviewed at each balance sheet date
 and adjusted to reflect current best estimates.
 
 Disclosures for contingent liability are made when there is a possible
 or present obligation for which it is not probable that there will be
 an outflow of resources. When there is a possible obligation or a
 present obligation in respect of which the likelihood of outflow of
 resources is remote, no disclosure is made.
 
 Loss contingencies arising from claims, litigation, assessment, fees,
 penalties, etc. are recorded when it is probable that a liability has
 been incurred and the amount can be reasonably estimated.
 
 Contingent assets are neither recognized nor disclosed in the financial
 statements.
 
 1.15 Cash and Cash equivalents
 
 Cash and cash equivalents include cash, cheques in hand, cash at bank
 and short term deposits with banks having maturity of three months or
 less.
 
 1.16 Insurance claims
 
 Amounts by way of insurance claims are recognised as assets when it is
 reasonably certain that the claim is receivable and is recorded as a
 reduction in the expense where the corresponding loss has been debited.
 
 1.17 Operating cycle
 
 All assets and liabilities have been classified as current or
 non-current as per the Company''s normal operating cycle and other
 criteria set out in Revised Schedule VI to the Companies Act, 1956. The
 Company has ascertained its operating cycle as twelve months for the
 purpose of current or non-current classification of assets and
 liabilities.