1. (a) There are outstanding guarantees given by Banks amounting to
 Rs.28,688,807 (2010 - Rs.23,123,527).  (b) Bills discounted with Banks
 Rs.2,989 (2010 - Rs.51,443).
 
 2.  (a) Te Company has entered into non-cancellable operating lease for
 office, warehouses and employee
 accommodation. The obligation for non-cancellable operating lease is
 Rs.91,926 (2010 - Rs.78,935) payable within one year and Rs.97,767
 (2010 - Rs.114,339) payable later than one year but not later than five
 years and payable after five years Rs.148,869 (2010 - Rs.170,858) as on
 31st March 2011. Rental expenses towards non-cancellable operating
 lease charged to the Profit and Loss Account for the year amounts to
 Rs.143,509 (2010 - Rs.212,704).
 
 (b) The Company has entered into cancellable operating leases for
 office, warehouses and employee accommodation. Tenure of leases
 generally vary between 1 to 3 years. Terms of the lease include
 operating term for renewal, terms of cancellation, etc.. Related lease
 rentals aggregating Rs.59,723 (2010 - Rs.54,756) have been debited to
 the Profit and Loss Account during the year.
 
 3.  Contingent Liabilities:
 
                                   31st March, 2011    31st March, 2010
 
 a) Claims not acknowledged as 
 Debts Interest (others)                        600                 600
 
 Professional Tax                               434                 434
 
 b) Uncalled liability on 
 partly paid shares                             100                 100
 
 c) Sales Tax / Value Added Tax             260,582             261,699
 
 d) Entry Tax                                16,051               1,387
 
 e) Income Tax [Also 
 refer item (g) below]                        3,990               3,990
 
 f)   Service Tax [Also refer 
 item (h) below]                             75,929              46,012
 
 g) The Company claimed certain deduction under the provision of the
 Income-tax Act,1961 up to the Assessment year 2009-10. In respect of
 the Assessment Years 2005-06 to 2008-09 the deduction was disallowed by
 the Income Tax Authorities and for those Assessment Years, the
 Company''s appeals are currently pending before the said appellate
 authorities. However, on the basis of legal opinion obtained, the
 Company being eligible to such Benefit, has challenged the issue by a
 writ petition before the Hon''ble Calcutta High Court and obtained
 interim stay order from the said High Court restraining the Tax
 Authorities from enforcing any demand against the Company. In the
 meantime on the basis of direction of the Hon''ble Supreme Court, the
 case has been transferred to Hon''ble Bombay High Court for hearing with
 other similar cases where the matter is pending.  The estimated tax
 impact in this regard is Rs.159,692 (2010 - Rs.256,594).
 
 h) Show-cause cum demands aggregating for Rs.989,237 (2010 -
 Rs.989,237) on certain matters relating to Service Tax issued by the
 concerned Tax Authorities in Kolkata during previous years have been
 challenged by the Company by writ petitions currently pending before
 the Hon''ble Calcutta High Court. Further, show- cause cum demand
 aggregating Rs.148,091 (2010 - Rs.66,943) and for Rs.20,779 (2010 -
 Rs.81,148) on similar matters relating to Service Tax issued by the
 concerned tax authorities in Delhi during previous years and current
 year respectively have also been challenged/is being challenged by the
 Company before the Hon''ble Delhi High Court. According to a legal
 opinion obtained in this regard, the contention of the Tax
 
 Authorities and consequent demand of Service Tax are not valid in law.
 Based on the aforesaid legal opinion the management is of the view that
 the disputed tax amount, though not admitted, in this regard should not
 exceed Rs.106,523 (2010 - Rs.102,199).
 
 4. Capital commitments not provided for Rs.277,122 (Net of advance)
 (2010 – Rs.207,137).
 
 5.  Year-end exchange fluctuation loss of Rs.73,411 (2010 - Rs.60,972)
 pertaining to a foreign currency loan, which is fully hedged by
 derivative contracts with a year-end mark to market gain of Rs.77,586
 (2010 - Rs.80,149), has not been provided for as according to
 management the loan is fully hedged and the aforesaid loss / gain are
 notional in nature.
 
 6.  The Company has long term strategic investments in shares of Simplex
 Infrastructures Libya Joint Venture Co.  (Simplex Libya), a subsidiary
 company, located in Libya with the Company''s ownership interest being
 65%, the year end book value of which is Rs.38,688 (Schedule 6).
 Further year end Sundry Debtors - considered good (Schedule 8) and
 Advance to Subsidiaries - considered good (Schedule 11) includes
 Rs.105,942 and Rs.38,507 respectively due from Simplex Libya.
 
 In view of current political crisis and unrest prevailing in Libya, and
 consequential stoppage of business activities, complete information
 relating to Simplex Libya are not available and audit of the financial
 statements for the year 2010-11 of Simplex Libya could not be carried
 out. However, as per the financial statements for the year 2010-11 of
 Simplex Libya as prepared by the Management, its year end net worth has
 been substantially eroded.
 
 After the improvement of the political situation in Libya and upon
 resuming business activities, the Company will be in a position to make
 a detailed review of the situation and assess recoverability of its
 total exposure as aforesaid.
 
 Pending such review/assessment and considering the long term strategic
 business interest, in the opinion of the Company, no adjustment to the
 carrying amounts of investments in and receivables from Simplex Libya
 is considered necessary at this stage.
 
 7. EMPLOYEE BENEFITS.
 
 a) In terms of the Guidance on implementing Accounting Standard (AS) 15
 on Employee Benefits issued by the Accounting Standard Board of the
 Institute of Chartered Accountants of India, a Provident Fund set up by
 the Company is treated as a defined benefit plan in view of the Company''s
 obligation to meet interest shortfall, if any. However, there is no
 such interest shortfall at the year end. According to the management on
 the basis of consultation with an actuary, actuarial valuation cannot
 be applied reliably to measure provident fund liabilities as at the
 year end in the absence of any guidance from the Actuarial Society of
 India.  Accordingly, complete information required to be considered as
 per AS 15 in this regard are not available and the same could not be
 disclosed. During the year, the Company has contributed Rs.39,928 (2010
 - Rs.33,633) to the Provident Fund.
 
 b) defined Contribution Plans.
 
 The Company has recognised, in the Profit and Loss Account for the year
 ended 31st March, 2011 an amount of Rs.39,755 (2010 - Rs.31,768) as
 expenses under defined contribution plans.
 
 c) Post Employment defined benefit Plans i) a) Gratuity (Funded)
 
 The Company provides for gratuity, a defined benefit retirement plan
 covering eligible employees. As per the scheme, the Gratuity Trust fund
 managed by the Trust, make payment to vested employees on retirement,
 death, incapacitation or termination of employment, of an amount based
 on the respective employee''s eligible salary (half month''s salary)
 depending upon the tenure of service subject to a maximum limit of
 twenty months salary or amount payable under Payment of Gratuity Act
 whichever produces higher Benefit. Vesting occurs upon completion of five
 years of service. Liabilities with regard to the Gratuity plan are
 determined by actuarial valuation as set out in Note 1(k) above, based
 upon which, the Company makes contribution to the Gratuity fund.
 
 b) Gratuity (Unfunded)
 
 The Company provides for gratuity, a defined benefit retirement plan
 covering employees of a foreign branch. As per the scheme, the Company
 makes payment to vested employees on retirement, death, incapacitation
 or termination of employment, of an amount based on the respective
 employee''s eligible salary (one month''s salary) depending upon the
 tenure of service subject to a maximum limit of twenty month''s salary.
 Vesting occurs upon completion of one year of service. Liabilities with
 regard to the unfunded Gratuity plan are determined by actuarial
 valuation as set out in Note 1(k) above.
 
 ii) End of Service benefit / Severance Pay [ESB/SP] (Unfunded)
 
 The Company provides for End of Service benefit / Severance Pay
 (unfunded) defined benefit retirement plans for certain foreign branches
 covering eligible employees. As per the schemes, the Company makes
 payment to vested employees on retirement, death, incapacitation or
 termination of employment, of an amount based on the respective
 employee''s eligible salary for specified number of days (ranging from
 fifteen days to one month) depending upon the tenure of service (maximum
 limit varies from one month to twenty four months). Vesting occurs upon
 completion of one year of service. Liabilities with regard to the End
 of Service benefit / Severance Pay Scheme are determined by actuarial
 valuation as set out in Note 1(k) above.
 
 iii) Leave Encashment Scheme [LES] (Unfunded)
 
 The Company provides for accumulated leave benefit for eligible employees
 payable at the time of retirement of service subject to maximum of
 ninety / one hundred twenty days and in case of foreign branches actual
 number of days outstanding based on last drawn salary.
 
 8. a) Repairs and renewals under Schedule 14 comprises Repairs to
 Machinery Rs.10,508 (2010 - Rs.5,478) and Repairs Others Rs.14,312
 (2010 - Rs.10,044).
 
 b) Other Expenses under Schedule 14 includes Rent Rs.536,946 (2010 -
 Rs.503,417), Equipment Hire Charges Rs.1,957,684 (2010 - Rs.1,443,299),
 Insurance Rs.6,541 (2010 - Rs.3,092), Staff Welfare Expenses Rs.90,973
 (2010 - Rs.57,099), Repairs to Machinery Rs.189,174 (2010 - Rs.161,604)
 and Repairs Others Rs.44,099 (2010 - Rs.20,209).
 
 c) Expenses on Power and Fuel Rs.1,373,876 (2010 - Rs.1,097,680)
 included in Stores Consumed and Other Expenses under Schedule 14.
 
 d) Miscellaneous Expenses under Schedule 17 include Derivative loss of
 Rs.2,939 (2010 - Rs.4,302).
 
 9.  Work in Progress include Salaries and Wages (including amount paid
 / payable to Sub-contractors) Rs.262,827 (2010 - Rs.50,266) and rent
 Rs.12,458 ; (2010 - Rs.2,936).
 
 10.  MAT Credit Entitlement of Rs.179,022 (2010 - Rs. Nil), recognised
 in these accounts, relates to an earlier year which has since been
 allowed to be carried forward by the Income Tax authorities after
 completion of assessment.
 
 11.  Loans and Advances include the amount due from an officer of the
 Company Rs.790 (2010 - Rs.Nil) [Maximum Balance due at any time during
 the year Rs.1,000 (2010 - Rs.Nil)]
 
 12.  Previous year''s figures are rearranged / regrouped, where
 necessary, to make the same comparable with the current year''s figures.