1. Income tax expense comprises current tax and deferred tax charge or
 credit. The deferred tax charge or credit is recognised using current
 tax rates. Where there is unabsorbed depreciation or carry forward
 losses, Deferred Tax Assets are recognised only if there is a virtual
 certainty of realisation of such assets. Other deferred tax assets are
 recognised only to the extent there is reasonable certainty of
 realisation in future. Deferred tax assets/liabilities are reviewed as
 at each Balance Sheet date based on developments during the year and
 available case laws, to reassess realisation/liabilities.
 
 Deferred Taxation                     As at     Debited/          As at
                               March 31,2005  Credited to  March 31,2004
 
 P&LA/c
 Deferred tax assets
 
 Provision for expenses
 not allowed                       1,553,680      504,457      2,058,137
 under Income tax Act, 1961
 
 Deferred tax liability
 Excess of depreciation
 allowable under Income            2,592,240      211,247      2,380,993
 tax-law over deprecation
 provided in accounts.
 
 Total Deferred Tax Liability      1,038,560      715,704        322,856
 
                                                 As at             As at
                                         March 31,2005     March 31,2004
 
 2. Contingent Liabilities not provided for
 
 a) in respect of guarantees issued by Bank 12,785,556        14,082,524
 
 b) on account of liquidated damages,
 compensative & after ASCERTAlNABLE
 sales maintenance Bank Guarantees are given for due
 performance under contracts with Government
 Departments/Customers. In the opnion of the
 management no claim against these guarantees are
 expected.
 
 3. a) Directors remuneration:
 
 Salary                                      1,538,080         1,152,896
 
 Contribution to Provident Fund                158,400           109,200
 
 Contribution to Superannuation Fund            51,082            23,850
 
                                             1,747,562        1,285,9461
 
 c) Value of imports (C. I. F.)
 
 i) Raw materials                           79,264,756        82,420,906
 
 ii) Components & Spare Parts                      Nil               Nil
 
 4) Amount due to small scale and ancillary
 undertaking to the extent such parties have been
 identified from available information
 
                                            25,598,890        28,946,143
 
 5) Dues from Directors and their relatives and firms in which they are
 interested
 
                 Current Year Maximum Balance  Previous Maximum Balance
                              during the year      Year during the year
 Included in
 other Advances     4,410,000      4,410,000    300,000         300,000
 
 Intercorporate Deposit   Nil     33,500,000 20,000,000      24,500,000
 
 6) Segment Reporting (AS-17)
 
 The Companys sole business segment is Asbestos Cement Products and the
 only geographical segment is India, Consequently the need for seperate
 disclosure as required under Accounting Standard 17 - Segment Reporting
 is not considered relevant. The Company caters mainly to the needs of
 domestic market. The export turnover is not significant in context of
 the total turnover. As such there are no reportable geographical
 segments.
 
 7) Related Party Disclosures (AS-18)
 
 Related Party Disclosures, as required by AS-18, Related Party
 Disclosures are given in Annexure attached herewith.
 
 8) Earning per Share (AS-20)                   2004-2005      2003-2004
                                                   Rupees         Rupees
 Profit after tax as per Profit & Loss Account 28.788,620     18,328,463
 
 Weighted average Number of Equity Share
 Outstanding                                    3,061,500      3,061,500
 
 Basic and diluted earning per share                 9.40           5.99
 
 9) Figures of previous year have been regrouped/re-adjusted wherever
 necessary.