(a) Change in accounting policy
 
 Presentation & disclosure of Financial Statements
 
 During the year ended 30th June, 2012, the revised Schedule VI notified
 underthe Companies Act, 1956 has become applicable to the Company for
 preparation and presentation of its Financial Statements. The adoption
 of revised Schedule does not impact recognition and measurement
 principles followed for preparation of Financial Statements.  However,
 it has significant impact on the presentation and disclosures made in
 the Financial Statements.  The Company has also reclassified the
 previous year figures in accordance with the requirements applicable in
 the current year.
 
 (b) Currentand Non currentclassification
 
 Any asset / liability is classified as current if it satisfies any of
 the following conditions:
 
 (i) it is expected to be realized / seltled.in the Company''s normal
 operating cycle; or
 
 (ii) it is expected to be realized / settled within 12 months after the
 reporting date; or
 
 (iii) inthecaseof an asset,
 
 a) it is held primarily for the purpose of being traded;or
 
 b) it is cash or cash equivalent unless it is restricted from being
 exchanged or utilized to settle a liability for atleast 12 months after
 the reporting date.
 
 (iv) in case of a liability, the Company does not have an unconditional
 right to defer settlement of liability for atleast 12 months after the
 reporting date.
 
 All other assets / liabilities are classified as non- current.
 
 (c) Use of Estimates
 
 The preparation of the Financial Statements in conformity with
 generally accepted accounting principles requires the management to
 make estimates and assumptions that affect the reporting balances of
 assets and liabilities and disclosures relating to contingent
 liabilities as at the date of the financial statements and reporting
 amounts of income and expenditure during the year. Contingencies are
 recorded when it is probable that a liability will be incurred, and the
 amount can be reasonably estimated. Actual resulls could differ from
 such estimates. Any revision to accounting estimates is recognised
 prospectively in the current and future periods.
 
 (d) Tangible Fixed Assets
 
 FixedAssets are stated at cost of acquisition including taxes, duties,
 freight and other incidental expenses related to acquisition,
 construction and installation less depreciation/amortisation. Borrowing
 costs that are directly attributable to acquisition, construclion or
 production of a qualifying asset are capitalized.
 
 (e) IntangibleAssets
 
 Intangible assets are stated at cost of acquisition less accumulated
 depreciation/ amortisation. Computer Software is amortised over a
 period'' of thirty six months. Amortisation is done on the straight line
 method.
 
 (f) Impairment of Assets
 
 Regular review is done to determine whether there is any indication for
 impairment in carrying amount of the Company''s fixed assets. If any
 indication exists, an assets recoverable amount is estimated based on
 internal / external factors. An impairment loss is recognized if 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 discounled to their present value at the weighted average
 cost of capital.
 
 (g) Investments
 
 Long term investments are stated at cost. Provision for diminution in
 value, other than temporary, is made in the accounts. Earnings on
 investments are accounted for when the right to receive payment is
 established.
 
 (h) Inventories
 
 Inventories are valued at lower of cost or nel realisable value, on the
 basis of physical verification carried out by trie management. Cost is
 arrived at on a FIFO basis and includes appropriate portion of
 allocable overheads. Net realizable value is the estimated selling
 price in ordinary course of business, less estimated cost necessary to
 make the sale. Raw Materials are valued at cost (FIFO basis). Goods in
 transit are valued at cost. Cost of inventories have been computed to
 include all costs of purchases, cost of conversion and other costs
 incurred in bringing the inventories to their present location and
 condition.
 
 (i) Warranties
 
 Product warranty costs are determined using reasonable estimates based
 on costs incurred in the past and are provided for in the year sale is
 made. Contractual obligations in respect of warranties includes
 estimates made for the products sold by the Company which are covered
 under free replacement warranty on manufacturing defects of sewing
 machines and breakages of cast iron, plastic & wooden accessories and
 are accrued at 1 % of sales to cover future costs.
 
 (j) Revenue recognition
 
 i) Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the company and the revenue can be
 reliably measured. Revenue from sale of goods is recognized when all
 significant risk and rewards of the ownership are transferred to the
 buyer as per the terms of sales which coincides with the despatch of
 the goods. Revenue is recorded net of value added tax / sales taxi
 returns and gross of excise duty, if any.
 
 ii) Interest income is recognized on time proportionate basis taking
 into account the amount outstanding and the rate applicable and is
 staled at gross.
 
 (k) Depreciation
 
 Depreciation is provided on a straight-line basis at the per annum
 rates (with the corresponding useful life) specified below:
 
 Assets Percentage Estimated useful
 
 life in years
 
 Building 3.34% 30years
 
 Planland
 
 machinery 4.75%to25% 4 years to21 years
 
 Vehicles 25% 4 years Office
 
 equipment 20% 5 years Furniture
 
 and fixtures 20% 5 years
 
 Computers 33.33% 3 years
 
 Assets costing less than Rs. 5,000/- per unit are depreciated at the
 rate of 100%. Depreciation on additions is being provided on prorata
 basis from the date of such additions. Similarly, depreciation on
 assets sold/disposed off during the year is being provided up to the
 dates on which such assets are sold/disposed off. Renovation
 expenditure incurred on shops, warehouses, offices etc. are written off
 in the year it is incurred.
 
 (I) Lease
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased assets are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the Statement of Profit & Loss on a straight-line basis over the
 lease term.
 
 (m) Foreign currency transactions
 
 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.
 
 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.
 
 Exchange differences arising on the settlement of monetary items or on
 reporting company''s monetary items at rates different from those at
 which they were initially recorded during Ihe year, or reported in
 previous financial statements, are recognised as income or as expenses
 in the year in which they arise.
 
 (n) Employees Benefits
 
 Defined Contribution Plans
 
 Company''s contribution paid /payable during the year to Employees State
 Insurance Corporation (ESIC) and Provident Fund are recognized in the
 Statement of Profit & Loss. The Provident Fund Contributions are made
 to employer established Provident Fund. ESIC contributions are made to
 Government administered ESIC fund. The Company also makes contribution
 towards superannuation and is required to contribute a specified
 percentage of payroll cost to fund the benefits.  /
 
 Defined Benefit Plans
 
 Company provides retirement benefits in the form of gratuity (funded),
 and leave encashment (unfunded) which are measured using the Projected
 unit credit method with actuarial valuation being carried out at each
 valuation dale.  Contribution for Gratuity is made to Life Insurance
 Corporation of India as per Company''s Scheme.  Provision / write back,
 if any is made on the basis of the present value of liability as at the
 Balance Sheet date determined by an actuarial valuation and is treated
 as liability under OtherCurrent Liabilities.
 
 Termination benefits are recognized as an expense as and when incurred.
 Short term compensated absences are provided based on past experience
 of leave availed. Actuarial gains / losses are immediately taken to
 Statement of Profit & Loss and are not deferred.
 
 (o) Research and development
 
 Research and development expenses of revenue nature are charged to the
 Statement of Profit & Loss in the year in which they are incurred.
 
 (p) Taxes on Income
 
 Income Tax is accounted for in accordance with Accounting Standard on
 Accounting for Taxes on Income notified pursuant to the Companies
 (Accounting Standards) Rules. 2006.
 
 Minimum Alternate Tax (MAT) is accounted for in accordance with tax
 laws which give rise to future economic benefits in the form of tax
 credits against which future income tax liability is adjusted and is
 recognized asan asset in the Balance Sheet.
 
 Deferred Tax is provided and recognized on timing differences between
 taxable income arid accounting income subject to prudential
 consideration. Deferred Tax Asset on unabsorbed depreciation and carry
 forward of losses are not recognized unless there is a virtual
 certainty about availability of future taxable income to realize such
 assets.
 
 (q) Provisions, Contingent Liabilities & Contingent Assets
 
 Provisions are recognized when there is a present legal or statutory
 obligation as a result of past events and where it is probable that
 there will be outflow of resources lo settle the obligation and when a
 reliable estimate of the amount of the obligation can be made.
 
 Contingent Liabilities are recognized only when there is a possible
 obligation arising from past events due to occurrence or non-occurrence
 of one or more uncertain future events not wholly within the control of
 the Company or where any present obligation cannot be measured in terms
 of future outflow of resources or where a reliable estimate of the
 obligation cannot be made. Obligations are assessed on an ongoing basis
 and only those having a largely probable outflow or resources are
 provided for.
 
 Contingent Assets are not recognized in the Financial Statements.
 
 (r) Earnings per share
 
 Earning per share is calculated by dividing the net profit or loss for
 the year attributable to equity shareholders by the weighted average
 number of equity shares outstanding during the year.
 
 (s) Events afterthe Balance Sheet date
 
 Events occurring after the date of the Balance Sheet which affect the
 financial position to a material extent are taken into cognizance.