(a) Basis of accounting
 
 The financial statements are prepared under the historical cost
 convention, on accrual basis of accounting except in case of assets for
 which provision for impairment is made and revaluation is carried out
 to comply in all material respects, with the mandatory accounting
 standards as notified by the Companies (Accounting Standards) Rules,
 2006 as amended (''the Rules'') and the relevant provisions of the
 Companies Act, 1956 (''the Act''). The accounting policies have been
 consistently applied by the Company; and the accounting policies not
 referred to otherwise, are in conformity with Indian Generally Accepted
 Accounting Principles (''Indian GAAP'').
 
 (b) Use of estimates
 
 The preparation of financial statements in conformity with Indian GAAP
 requires management to make estimates and assumptions that may affect
 the reported amounts of assets and liabilities and disclosures relating
 to contingent liabilities as at the date of the financial statements
 and the reported amounts of incomes and expenses during the reporting
 period.  Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 (c) Revenue recognition
 
 Revenue comprises sale of WTGs and wind power systems; service income;
 interest; dividend and royalty. Revenue is recognised to the extent it
 is probable that the economic benefits will flow to the Company and
 that the revenue can be reliably measured. Revenue is disclosed, net of
 discounts, excise duty, sales tax, service tax, VAT or other taxes, as
 applicable.
 
 Sales
 
 Sale of individual WTGs and wind power systems (supply only projects)
 are recognised in the profit and loss account provided that the
 significant risks and rewards in respect of ownership of goods have
 been transferred to the buyer as per the terms of the respective sales
 order, and provided that the income can be measured reliably and is
 expected to be received.
 
 Fixed price contracts to deliver wind power systems (turnkey contracts
 and projects involving installation and/or commissioning apart from
 supply) are recognised in revenue based on the stage of completion of
 the individual contract using the percentage of completion method,
 provided the order outcome as well as expected total costs can be
 reliably estimated. Where the profit from a contract cannot be
 estimated reliably, revenue is only recognised equalling the expenses
 incurred to the extent that it is probable that the expenses will be
 recovered.
 
 Due from customers, if any are measured the selling price of the work
 performed, based on the stage of completion less the cost of the work
 already billed to the customer and expected losses. The stage of
 completion is measured by the proportion that the contract expenses
 incurred to date bear to the estimated total contract expenses. The
 value of self-constructed components is recognised in ''Contracts in
 progress'' upon dispatch of the complete set of components which are
 specifically identified for a customer and are within the scope of
 supply, as per the terms of the respective sale order for the wind
 power systems. Where it is probable that total contract expenses will
 exceed total revenues from a contract, the expected loss is recognised
 immediately as an expense in the profit and loss account.
 
 Where the selling price of a contract cannot be estimated reliably, the
 selling price is measured based on the expenses incurred to the extent
 that it is probable that these expenses will be recovered. Prepayments
 from customers are recognised as liabilities. A contract in progress
 for which the selling price of the work performed exceeds interim
 billings and expected losses is recognised as an asset. Contracts in
 progress for which interim billings and expected losses exceed the
 selling price is recognised as a liability. Expenses relating to sales
 work and the winning of contracts are recognised in the profit and loss
 account as incurred.
 
 Operation and Maintenance
 
 Revenues from operation and maintenance contracts are recognised
 pro-rata over the period of the contract as and when services are
 rendered, net of taxes charged.
 
 Project execution income
 
 Revenue from services relating to project execution is recognised on
 completion of respective service, as per terms of respective sales
 order.
 
 Interest income
 
 Interest income is recognised on a time proportion basis taking into
 account the amount outstanding and the rate applicable. In case of
 interest charged to customers, interest is accounted for on
 availability of documentary evidence that the customer has accepted the
 liability.
 
 Dividend income
 
 Dividend income from investments is recognised when the right to
 receive payment is established. Dividend from subsidiary companies
 declared after the year end till the adoption of accounts by Board of
 Directors, is accounted during the year as required by Schedule VI to
 the Act.
 
 Royalty income
 
 Royalty income is recognised on accrual basis in accordance with the
 terms of the relevant agreements.
 
 (d) Fixed assets and intangible assets
 
 Fixed assets are stated at cost, less accumulated depreciation and
 impairment losses, if any. Cost includes purchase price and all
 expenditure necessary to bring the asset to its working condition for
 its intended use. Own manufactured assets are capitalised inclusive of
 all direct costs and attributable overheads. Capital work-in-progress
 comprises of advances paid to acquire fixed assets and the cost of
 fixed assets that are not yet ready for their intended use as at the
 balance sheet date. In the case of new undertaking, preoperative
 expenses are capitalised upon the commencement of commercial
 production.  Assets held for disposal are stated at the lower of net
 book value and the estimated net realisable value.
 
 In respect of accounting periods commencing on or after December 7,
 2006, exchange differences arising on reporting of the long-term
 foreign currency monetary items at rates different from those that at
 which they were initially recorded during the period, or reported in
 the previous financial statements are added to or deducted from the
 cost of the asset and are depreciated over the balance life of the
 asset, if these monetary items pertain to the acquisition of a
 depreciable fixed asset.
 
 Intangible assets are recorded at the consideration paid for their
 acquisition. Cost of an internally generated asset comprises all
 expenditure that can be directly attributed, or allocated on a
 reasonable and consistent basis, to create, produce and make the asset
 ready for its intended use.
 
 The carrying amounts of the assets belonging to each cash generating
 unit (''CGU'') are reviewed at each balance sheet date to assess whether
 they are recorded in excess of their recoverable amounts and where
 carrying amounts exceed the recoverable amount of the asset''s CGU,
 assets are written down to their recoverable amount. 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 their present value using a pre-tax discount rate that reflects
 current market assessments of the time value of money and risks
 specific to the asset. After impairment, depreciation is provided on
 the revised carrying amount of the asset over its remaining useful
 life. The impairment loss recognised in prior accounting periods is
 reversed if there has been a change in estimates of recoverable amount.
 The carrying value after reversal is not increased beyond the carrying
 value that would have prevailed by charging usual depreciation if there
 was no impairment.
 
 (e) Depreciation and amortisation
 
 Depreciation is provided on the written down value method (''WDV'')
 unless otherwise stated, pro-rata to the period of use of assets and is
 based on management''s estimate of useful lives of the fixed assets or
 intangible assets or at rates specified in schedule XIV to the Act,
 whichever is higher:
 
 (f) Inventories
 
 Inventories of raw materials including stores, spares and consumables;
 packing materials; work-in-progress; project work in progress;
 semi-finished goods and finished goods are valued at the lower of cost
 and estimated net realisable value. Cost is determined on weighted
 average basis.
 
 The cost of work-in-progress, semi-finished goods and finished goods
 includes the cost of material, labour and manufacturing overheads.
 
 Stock of land and land lease rights is valued at lower of cost and
 estimated net realisable value. Cost is determined on weighted average
 basis. Net realisable value is determined by management using technical
 estimates.
 
 (g) Investments
 
 Investments that are readily realisable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long term investments. Current
 investments are carried at lower of cost and fair value, determined on
 an individual basis. Long-term investments are carried at cost.
 However, provision is made to recognise a decline, other than
 temporary, in the value of long-term investments.
 
 (h) Foreign currency transactions
 
 Transactions in foreign currencies are recorded at the average exchange
 rate prevailing in the period during which the transactions occur.
 
 Outstanding balances of foreign currency monetary items are reported
 using the period end rates. Pursuant to the notification of the
 Companies (Accounting Standards) Amendment Rules 2009 issued by
 Ministry of Corporate Affairs on March 31, 2009 amending Accounting
 Standard – 11 (AS - 11) ''The Effects of Changes in Foreign Exchange
 Rates (revised 2003), exchange differences in respect of accounting
 periods commencing on or after December 7, 2006, relating to long term
 monetary items are dealt with in the following manner:
 
 (a) Exchange differences relating to long term foreign currency
 monetary items, arising during the year, in so far as they relate to
 the acquisition of a depreciable capital asset are added to/deducted
 from the cost of the asset and depreciated/recovered over the balance
 life of the asset.
 
 (b) In other cases, such differences are accumulated in the Foreign
 Currency Monetary Item Translation Difference Account and amortised to
 the profit and loss account over the balance life of the long term
 monetary item but not beyond March 31, 2011.
 
 All other exchange differences are recognised as income or expense in
 the profit and loss account.
 
 Non-monetary items carried in terms of historical cost denominated in a
 foreign currency are reported using the exchange rate at the date of
 the transaction; and non-monetary items which are carried at fair value
 or other similar valuation denominated in a foreign currency are
 reported using the exchange rate that existed, when the values were
 determined.
 
 Exchange differences arising as a result of the above are recognised as
 income or expense in the profit and loss account.
 
 Foreign currency transactions entered into by branches, which are
 integral foreign operations are accounted in the same manner as foreign
 currency transactions described above. Branch monetary assets and
 liabilities are restated at the year end rates.
 
 Derivatives
 
 In case of forward contracts, the difference between the forward rate
 and the exchange rate, being the premium or discount, at the inception
 of a forward exchange contract is recognised as income/expense over the
 life of the contract.  Exchange differences on such contracts are
 recognised in the profit and loss account in the reporting period in
 which the rates change. Any profit or loss arising on cancellation or
 renewal of forward exchange contract is recognised as income or as
 expense for the period.
 
 As per the Institute of Chartered Accountants of India (''ICAI'')
 announcement, derivative contracts, other than those covered under
 AS-11, are marked to market on a portfolio basis and the net loss after
 considering the offsetting effect on the underlying hedge items is
 charged to the profit and loss account. Net gains on marked to market
 basis are not recognised.
 
 (i) Borrowing costs
 
 Borrowing costs that are directly attributable to the acquisition,
 construction or production of qualifying assets are capitalised as part
 of the cost of such assets. A qualifying asset is one that necessarily
 takes substantial period of time to get ready for intended use. Costs
 incurred in raising funds are amortised equally over the period for
 which the funds are acquired. All other borrowing costs are charged to
 profit and loss account.
 
 (j) Retirement and other employee benefits
 
 Defined contributions to provident fund and employee state insurance
 are charged to the profit and loss account of the year when the
 contributions to the respective funds are due. There are no other
 obligations other than the contribution payable to the respective
 statutory authorities.
 
 Defined contributions to superannuation fund are charged to the profit
 and loss account on accrual basis.
 
 Retirement benefits in the form of gratuity are considered as defined
 benefit obligations, and are provided for on the basis of an actuarial
 valuation, using projected unit credit method, as at each balance sheet
 date.
 
 Short-term compensated absences are provided based on estimates. Long
 term compensated absences and other long term employee benefits are
 provided for on the basis of an actuarial valuation, using projected
 unit credit method, as at each balance sheet date.
 
 Actuarial gains/losses are taken to profit and loss account and are not
 deferred.
 
 (k) Provisions, contingent liabilities and contingent assets
 
 A provision is recognised when the Company has a present obligation as
 a result of past events and it is probable that an outflow of resources
 will be required to settle the obligation, in respect of which a
 reliable estimate can be made. Provisions are not discounted to their
 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 the current best
 estimates.
 
 Contingent liabilities are disclosed by way of notes to accounts unless
 the possibility of an outflow is remote. Contingent assets are not
 recognised or disclosed.
 
 (l) Taxes on Income
 
 Tax expense for a year comprises of current tax and deferred tax.
 Current tax is measured at the amount expected to be paid to the tax
 authorities, after taking into consideration, the applicable deductions
 and exemptions admissible under the provisions of the Income Tax Act,
 1961.
 
 Deferred tax reflects the impact of current year timing differences
 between taxable income and accounting income for the year and reversal
 of timing differences of earlier years. Deferred tax is measured based
 on the tax rates and the tax laws enacted or substantively enacted at
 the balance sheet date. Deferred tax assets are recognised only to the
 extent that there is reasonable certainty that sufficient future
 taxable income will be available against which such deferred tax assets
 can be realised. If there is unabsorbed depreciation or carry forward
 of losses under tax laws, all deferred tax assets are recognised only
 to the extent that there is virtual certainty supported by convincing
 evidence that sufficient future taxable income will be available
 against which such deferred tax assets can be realised.
 
 Deferred tax resulting from timing differences which originate during
 the tax holiday period but are expected to reverse after such tax
 holiday period is recognised in the year in which the timing
 differences originate using the tax rates and laws enacted or
 substantively enacted at the balance sheet date.
 
 At each balance sheet date, the company reassesses unrecognised
 deferred tax assets. It recognises unrealised deferred tax assets to
 the extent it has become reasonably certain or virtually certain, as
 the case may be, that sufficient taxable income will be available
 against which the deferred tax can be realised. Further the carrying
 amounts of deferred tax assets are reviewed at each balance sheet date.
 The company writes-down the carrying amount of a deferred tax asset to
 the extent that it is no longer reasonably certain or virtually
 certain, as the case may be, that sufficient future taxable income will
 be available against which deferred tax asset can be realised. Any such
 write-down is reversed to the extent that it becomes reasonably certain
 or virtually certain, as the case may be, that sufficient future
 taxable income will be available
 
 Minimum alternative tax (''MAT'') credit is recognised as an asset only
 when and to the extent there is convincing evidence that the Company
 will pay income tax higher than that computed under MAT, during the
 period that MAT is permitted to be set off under the Income Tax Act,
 1961 (specified period). In the year, in which the MAT credit becomes
 eligible to be recognised as an asset in accordance with the
 recommendations contained in the Guidance Note issued by the Institute
 of Chartered Accountants of India (ICAI), the said asset is created by
 way of a credit to the profit and loss account and shown as MAT credit
 entitlement. The Company reviews the same at each balance sheet date
 and writes down the carrying amount of MAT credit entitlement to the
 extent there is no longer convincing evidence to the effect that the
 Company will pay income tax higher than MAT during the specified
 period.
 
 (m) Operating leases
 
 Assets acquired on lease where a significant portion of the risks and
 rewards of ownership are retained by the lessor are classified as
 operating lease. Lease rentals are charged off to the profit and loss
 account as incurred.
 
 (n) Earnings/(loss) per share
 
 Basic earnings/(loss) per share are calculated by dividing the net
 profit / (loss) for the period attributable to equity shareholders
 (after deducting preference dividends and attributable taxes) by the
 weighted average number of equity shares outstanding during the period.
 The weighted average number of equity shares outstanding during the
 period are adjusted for any bonus shares issued during the year and
 also after the balance sheet date but before the date the financial
 statements are approved by the board of directors.
 
 For the purpose of calculating diluted earnings/(loss) per share, the
 net profit/(loss) for the period attributable to equity shareholders
 and the weighted average number of shares outstanding during the period
 are adjusted for the effects of all dilutive potential equity shares.
 
 The number of equity shares and potentially dilutive equity shares are
 adjusted for bonus shares as appropriate. The dilutive potential equity
 shares are adjusted for the proceeds receivable, had the shares been
 issued at fair value. Dilutive potential equity shares are deemed
 converted as of the beginning of the period, unless issued at a later
 date.
 
 (o) Employee stock options
 
 Stock options granted to employees under the employees'' stock option
 scheme are accounted as per the intrinsic value method permitted by the
 SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme)
 Guidelines, 1999 and the ''Guidance Note on Share Based Payments'' issued
 by the ICAI. Accordingly, the excess of market price of the shares as
 on the date of grant of options over the exercise price is recognised
 as deferred employee compensation and is charged to profit and loss
 account on straight-line basis over the vesting period.
 
 The number of options expected to vest is based on the best available
 estimate and are revised, if necessary, if subsequent information
 indicates that the number of stock options expected to vest differs
 from previous estimates.
 
 (p) Cash and Cash Equivalents
 
 Cash and cash equivalents in the cash flow statement comprise cash at
 bank and in hand, cheques on hand and short-term investments with an
 original maturity of three months or less.