1.  Accounting Convention
 
 The financial Statements are prepared on the accrual basis under the
 historical cost convention, in accordance with the applicable
 Accounting Standards issued by the Institute of Chartered Accountants
 of India and the provisions of the Companies Act, 1956
 
 2.  Fixed Assets / Depreciation
 
 Fixed Assets are stated at cost net of cenvat / value added tax less
 accumulated depreciation.
 
 Depreciation for the year is computed on the straight line method as
 per the rates prescribed in Schedule XIV to the Companies Act, 1956
 
 3.  Impairment of Assets
 
 An asset is treated as impaired when the carrying cost of asset exceeds
 its recoverable value. An impairment loss is charged to the profit and
 loss account in the year in which an asset is identified as impaired.
 The impairment loss recognised in prior accounting period is reversed
 if there has been change in the estimate of recoverable amount.
 
 4.  Use of Estimates
 
 The preparation of financial statements require estimates and
 assumption to be made that affect the reported amount of assets and
 liabilities on the date of the financial statement and reported amount
 of revenues and expenses during the reporting period. Difference
 between the actual results and estimates are recognized in the period
 in which the results are known / materialised.
 
 5.  Revenue Recognition
 
 Revenue from Sales of product is recognized when the products are
 dispatched against the orders from customers in accordance with the
 contract terms.
 
 6.  Investments
 
 Trade investments are the investment made to enhance the group''s
 business interest. Investments are either classified as current or long
 term based on the managements intention at the time of purchase.
 Current investment are carried at the lower of cost and fair value.
 Long term investments are carried at cost and provisions recorded to
 recognize any decline, other than temporary, in the carrying value of
 each investment.
 
 7 Inventories
 
 Finished goods, traded items, raw material, packing material and
 work-in-process are valued at the lower of cost or net realisable
 value. Cost includes an appropriate portion of manufacturing overheads,
 where applicable. Finished goods & Semi Finished Goods are valued
 inclusive of Excise duty.
 
 8.  Foreign Currency Transactions
 
 Outstanding foreign currency assets and liabilities are translated at
 the exchange rate Prevailing as on Balance Sheet date or forward cover
 rates, as the case may be. Gains or losses on cancellation of forward
 exchange contracts and relating to the acquisition of fixed assets are
 adjusted to the cost of such fixed assets and those related to other
 account are recognized in the Profit and Loss Account under respective
 heads of accounts. The difference between the forward rate and the
 exchange rate at the date of transaction is recognized as income or
 expenses over the life of contract.
 
 9.  Borrowing Costs
 
 Borrowing Costs that are attributable to the acquisition or
 construction of qualifying assets are capitalized as part of the cost
 of such assets. All other borrowing cost are charged to revenue.
 
 10.  Retirement Benefit
 
 Contributions to Provident Fund are deposited with the appropriate
 authorities and charged to the Profit and Loss Account as incurred. The
 Company has made provision for gratuity based on 15 days'' salary for
 each completed year of service.
 
 11.  Taxation
 
 a.  Provision is made for both current & deferred taxes. Current tax is
 provided on the taxable income using the applicable tax rate & tax
 laws.
 
 b.  The Deferred tax for timing differences is accounted for using the
 tax rates & laws that have been enacted or substantively enacted by the
 balance sheet date and is accrued with Accounting Standard
 22-Accounting for taxes on income issued by the ICAI which includes
 current and deferred taxes.
 
 c.  Deferred tax Assets arising from timing differences are recognised
 only on the consideration of prudence and are reviewed at each Balance
 Sheet date.
 
 12.  Capital Work-In-Progress
 
 The cost of assets not put to use before the year end, are disclosed
 under capital work-in-progress.
 
 13.  Insurance Claims
 
 Insurance and other claims to the extent considered recoverable are
 accounted for in the year of claim based on the amount assessed by the
 surveyor. However, claim and refunds whose recovery cannot be
 ascertained with reasonable certainty, are accounted for on acceptance
 / actual receipts basis
 
 14.  Provision, Contingent Liabilities and Contingent Assets
 
 Provision involving substantial degree of estimation in measurement are
 recognized when there is 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
 notes. Contingent Assets are neither recognized nor disclosed in the
 financial statement.
 
 15.  Leases
 
 The Company''s significant leasing arrangements are in respect of
 operating leases for premises (residential, office, Stores, Godowns
 etc.-. The leasing arrangement which are not cancelable range between
 11 months and five years generally, and are usually renewable by mutual
 consent on agreed terms. The aggregate lease rentals payable are
 charged as rent including lease rentals.
 
 16.  Export Incentives
 
 Export benefits under various scheme announced by the Central
 Government under Exim Policy are accounted on accrual basis to the
 extent considered receivable depending on the certainty of receipts.
 
 17.  Sales Tax Deferment at NPV basis
 
 The company is having sales tax deferments benefits from Government of
 Maharashtra. Sales Tax Deferments shown as liability at Net Present
 Value basis.
 
 18.  Segment Accounting
 
 a) Segment accounting Policies
 
 Segment accounting policies are in line with the accounting policies of
 the Company. In addition, the following specific accounting policies
 have been followed for segment reporting:
 
 i) Segment revenue includes sales and other income directly
 identifiable with/allocable to the segment including inter segment
 revenue.
 
 ii) Expenses that are directly identifiable with/allocable to segments
 are considered for determining the segment result.  Expenses which
 relate to the Company as a whole and not allocable to segments are
 included under unallocable corporate expenditure.
 
 iii) Income which related to the Company as a whole and not allocable
 to segments is included in unallocable corporate income.