1.1.  Accounting convention
 
 The financial statements of the Company are prepared under historical
 cost convention on an accrual basis and comply with the Accounting
 Standards (''AS'') notified by the Companies (Accounting Standards)
 Rules, 2006 except otherwise mentioned elsewhere in the financial
 statements.
 
 1.2.  Use of Estimates
 
 The preparation of financial statements requires the Management to make
 estimates and assumptions considered in the reported amounts of assets
 and liabilities (including contingent liabilities, if any) as at the
 date of the financial statements and the reported income and expenses
 during the reporting period like provisioning for taxation, useful
 lives of assets etc. Management believes that the estimates used in the
 preparation of financial statements are prudent and reasonable. Future
 results may vary from these estimates.
 
 1.3.  Revenue Recognition
 
 On sale of goods
 
 Sales of the Company comprise sale of BOPP tapes, ropes and adhesives.
 Revenue is recognized when the risks and rewards are substantially
 transferred to the buyer. This usually occurs when the goods leave the
 premises of the Company.
 
 Interest income
 
 Interest income is recognized on accrual basis.
 
 1.4.  Expenses and incomes
 
 Expenses and incomes are accounted for on accrual basis except for
 bonus to employees. Bonus to employees is accounted for on payment
 basis. Provisions are made for all known liabilities.
 
 1.5.  Fixed Assets and Depreciation
 
 Fixed assets acquired by the Company are reported at acquisition value
 with deductions for accumulated depreciation.
 
 The acquisition cost includes the purchase price, taxes (which are not
 subsequently recoverable from the tax authorities), duties, freight and
 incidental expenses related to the acquisition and installation of the
 asset. Examples of incidental expenses are delivery and handling costs
 and installation services.
 
 Fixed assets are depreciated on Straight Line Method (''SLM'') at the
 rates prescribed by Schedule XIV of the Companies Act, 1956.
 Depreciation is charged on a prorata basis on additions made during the
 year. Assets costing below Rs. 5000 are expensed out in the year of
 purchase.
 
 1.6.  Foreign exchange transactions
 
 Initial recognition
 
 Transactions in foreign currency are booked at standard rates
 determined periodically, which approximate the actual rates.
 
 Translation
 
 Cash and bank balances, receivables and liabilities (monetary items) in
 foreign currencies as at the year end are revalued at year end rates
 and the unrealized translation differences are included in the
 Statement of Profit and Loss.
 
 Gain or loss on acquisition of fixed assets
 
 Gain/loss arising out of fluctuations on realization/payment or
 restatement, except those identifiable to acquisition of fixed assets
 is charged/credited to the Statement of Profit and Loss. Gain/loss on
 account of exchange fluctuations identifiable to fixed assets acquired
 are adjusted against the carrying value of the related fixed asset.
 
 1.7.  Inventory
 
 Raw materials, consumable and packing materials, semi finished goods
 and finished goods are valued at cost or net realizable value,
 whichever is lower.
 
 Cost includes freight, taxes and duties (other than those subsequently
 recoverable from the tax authorities) and all other expenses incurred
 on bringing the inventory to its present location and condition.
 
 Inventory is valued on weighted average basis.
 
 Cenvat credit for materials purchased for production is taken into
 account at the time of purchases. Cenvat credit on purchases of capital
 items wherever applicable is recognized when the asset is purchased.
 The Cenvat credit so taken is utilized for the payment of excise duty
 on goods manufactured. The unutilized Cenvat credit is carried forward
 in the financial statements.
 
 1.8.  Segment reporting
 
 The Company is primarily engaged in manufacture of Ropes and BOPP
 tapes.
 
 Although these two businesses represent separate business segments,
 Accounting Standard 17 - Segment Reporting issued by the Institute of
 Chartered Accountants of India is not applicable to the Company.
 
 1.9 Taxes on income
 
 Income tax is computed in accordance with Accounting Standard 22 -
 ''Accounting for Taxes on Income'' (''AS - 22''), notified by the Companies
 (Accounting Standards) Rules, 2006. Tax expenses are accounted in the
 same period to which the revenue and expenses relate.
 
 Deferred tax assets, other than unabsorbed depreciation or carried
 forward losses, are recognized only if there is reasonable certainty
 that they will be realized in the future and are reviewed for the
 appropriateness of their respective carrying values at each Balance
 Sheet date.
 
 1.10 Contingent liabilities
 
 The following are the contingent liabilities outstanding as at the
 balance sheet date.
 
 Income Tax demand for Rs. 5.64 lakhs has been raised by the Assessing
 officer for the AY 1995 - 96. The Company has disputed the demand and
 preferred an appeal before Income Tax (Tribunal). The Company is not
 aware of the outcome of the appeal. We are therefore, unable to comment
 on the matter.
 
 1.11 Since the Directors (including the Managing Director) are not
 drawing any commission, computation of commission for the year ended 31
 Mar 2012 as prescribed by sections 198, 309, 349 and 268 read with
 schedule XIII of the Companies Act, 1956 is not applicable.
 
 1.12 The format of Balance Sheet and Statement of Profit and Loss has
 been revised. Hence, previous year figures have been regrouped wherever
 necessary so as to enable comparison with the figures of the current
 year.
 
 1.13 Related Party Disclosures
 
 Related Party disclosures are given according to Accounting Standard 18
 Related Party Disclosures.
 
 Sl.  Name of the party              Relationship
 No.
 
 1.   Sonal Impex Limited            Associate
 
 2.   Sonal Filaments Limited        Associate
 
 3.   Sonal Ropes Limited            Associate
 
 4.   Zain Fresh Agro Limited        Enterprise over which
                                     Key Management Personnel
                                     are able to exercise significant
                                     influence
 
 5.   Sandeep Arora                  Key Management Personnel
 
 6.   Kamal Arora                    Key Management Personnel
 
 7.   Mona Arora                     Key Management Personnel