Basis of Preparation:
 
 The financial statements have been prepared to comply in all material
 respects with the notified accounting standard by Companies (Accounting
 Standards) Rules, 2006, (as amended) and the relevant provisions of the
 Companies Act, 1956.The financial statements are prepared under the
 historical cost convention, on the accrual basis. The accounting
 policies have been consistently applied by the Company and are
 consistent with those used in the previous year.
 
 Use of estimates:
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period end. Although these estimates are based upon managements best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 a) Fixed Assets / Intangibles:
 
 Fixed Assets / Intangibles are stated at cost (net of cenvat credit if
 availed) less accumulated depreciation and impairment losses, if any.
 The Company capitalises all cost relating to the acquisition and
 installation of fixed assets. The carrying amounts are reviewed at each
 balance sheet date when required to assess whether they are recorded in
 excess of their recoverable amounts, and where carrying values exceed
 this estimated recoverable amount, assets are written down to their
 recoverable amount.
 
 c) Impairment:
 
 The carrying amounts of assets are reviewed at each balance sheet date
 if there is any indication of impairment based on internal/external
 factors. An impairment loss is recognized wherever the carrying amount
 of an asset exceeds its recoverable amount. The recoverable amount is
 the greater of the assets net selling price and value in use. In
 assessing value in use, the estimated future cash flows are discounted
 to their present value at the weighted average cost of capital.
 
 d) Inventories:
 
 Crop Protection Division
 
 Inventories of raw materials, packing materials, work-in-process and
 finished goods are valued at standard cost adjusted for variances,
 which approximate actual cost based on weighted Average cost formula or
 net realisable value, whichever is lower. Cost of work-in-process and
 finished goods include materials, labour and manufacturing overheads.
 Stores and spare parts are valued at moving weighted average cost. The
 company accrues for excise duty liability in respect of inventories of
 finished goods.
 
 Seeds Division
 
 Inventories except stores and spare parts which are valued at moving
 weighted average cost are valued at lower of annual weighted average
 cost and net realizable value. Cost of work in progress and finished
 goods include material, labour, and manufacturing overheads.
 
 Net realizable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and estimated
 costs necessary to make the sale
 
 e) Foreign currency transactions:
 
 (i) Initial Recognition
 
 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.
 
 (ii) Conversion
 
 Foreign currency monetary items are reported using the closing rate.
 (iii) Exchange Differences
 
 Exchange differences arising on the settlement of monetary items or on
 reporting such monetary items of company at rates different from those
 at which they were initially recorded during the year, or reported in
 previous financial statements, are recognized as income or as expenses
 in the year in which they arise.
 
 (iv) Forward Exchange Contracts not intended for trading or speculation
 purposes
 
 The premium or discount arising at the inception of forward exchange
 contracts not intended for trading or speculation purposes is amortised
 as expense or income over the life of the contract. Exchange
 differences on such contracts are recognized in the statement of profit
 and loss in the year in which the exchange rates change. Any profit or
 loss arising on cancellation or renewal of forward exchange contract is
 recognized as income or as expenses for the year.
 
 f) Revenue recognition:
 
 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.
 
 The Company recognises sale of goods when the significant risks and
 rewards of ownership are transferred to the buyer, which is usually
 when the goods are dispatched to customers or delivered to carrier in
 case of export sales. Sales comprise amounts invoiced for goods sold
 inclusive of excise duty, but net of sales tax, returns, trade
 discounts and sales rebate.
 
 Interest income is recognised on a time proportion basis taking into
 account the amount outstanding and the rate applicable.
 
 g) Retirement benefits:
 
 Retirement benefit in the form of Provident Fund is a defined benefit
 scheme and the contributions 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 trusts.
 
 Gratuity liability and Post Retirement Benefit liability in form of
 pension and medical benefit are defined benefit obligations and
 provided for on the basis of an actuarial valuation made at the end of
 each financial year.
 
 Long term compensated absences are provided for based on actuarial
 valuation at the year end. The Actuarial Valuation is done as per
 Project Unit Credit method.
 
 Actuarial gains/losses are immediately taken to profit and loss account
 and are not deferred.
 
 Payments made under the Voluntary Retirement Scheme are charged to the
 Profit and Loss account immediately.
 
 h) Research and Development (R & D):
 
 Capital expenditure on R & D is treated in the same way as expenditure
 on Fixed Assets. Revenue expenditure is charged to revenue under the
 respective heads of expenses.
 
 i) Excise /Customs duty:
 
 Excise duty on finished goods and customs duty on imported materials
 are accounted on production of packed finished goods/receipt of
 material in customs bonded warehouses.
 
 j) Income Tax:
 
 Tax expense comprises of current, deferred and fringe benefit tax.
 Current income tax and fringe benefit tax is measured at the amount
 expected to be paid to the tax authorities in accordance with the
 Income- tax Act, 1961 enacted in India. Deferred income taxes 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 and deferred tax liabilities are offset, if a legally
 enforceable right exists to set off current tax assets against current
 tax liabilities and the deferred tax assets and deferred tax
 liabilities relate to the taxes on income levied by same governing
 taxation laws. 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.
 
 At each balance sheet date the Company re-assesses unrecognised
 deferred tax assets. It recognises unrecognised deferred tax assets to
 the extent that it has become reasonably certain or virtually certain,
 as the case may be that sufficient future taxable income will be
 available against which such deferred tax assets can be realised.
 
 The carrying amount 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.
 
 k) Borrowing Costs:
 
 Borrowing costs that are directly attributable to the acquisition,
 construction or production of a qualifying asset are capitalized as a
 part of the cost of that asset. All Other borrowing costs are
 recognized as an expense in the year in which they are incurred.
 Borrowing costs consist of interest and other costs that an entity
 incurs in connection with the borrowing of funds.
 
 I) Provisions and contingent liabilities:
 
 A provision is recognized when an enterprise has a present obligation
 as a result of past event 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
 its present value and are determined based on management 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
 management estimates.
 
 Contingent liabilities are disclosed when the company has a possible
 obligation and it is not probable that an outflow of resources
 embodying economic benefits will be required to settle the obligation.
 
 Provision for site restoration cost is based on periodic assessment of
 operational risks. The company has made provision for production site
 improvement and restoration costs. Provision for these costs has been
 made in the expectation that such restoration work will be required in
 future and the cost can be reasonably estimated. The costs are based on
 currently available facts with respect to technology and relevant
 regulations.
 
 m) Leases:
 
 Company is the lessee
 
 Operating Lease
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term, are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the Profit and Loss account on a straight-line basis over the lease
 term.
 
 Company is the lessor
 
 Operating Lease
 
 Assets subject to operating leases are included in fixed assets. Lease
 income is recognised in the Profit and Loss Account on a straight-line
 basis over the lease term. Costs, including depreciation are recognised
 as an expense in the Profit and Loss Account. Initial direct costs such
 as legal costs, brokerage costs, etc. are recognised immediately in the
 Profit and Loss Account.
 
 n) Cash and Cash equivalents:
 
 Cash and cash equivalents in the balance sheet comprises of cash at
 bank and in hand and short term investments with an original maturity
 of three months or less.
 
 o) Earnings per Share:
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders (after
 deducting attributable taxes) by the weighted average number of equity
 shares outstanding during the period.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or 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.
 
 p) Segment Reporting Policies:
 
 Identification of segments:
 
 The Companys operating businesses are organized and managed separately
 according to the nature of products provided, with each segment
 representing a strategic business unit that offers different products
 and serves different markets. The analysis of geographical segments is
 based on the areas in which major operating divisions of the Company
 operate.
 
 Inter segment Transfers:
 
 The Company generally accounts for inter segment sales and transfers on
 competitive basis.
 
 Allocation of common costs:
 
 Common allocable costs are allocated to each segment according to the
 relative contribution of each segment to the total common costs.
 
 Unallocated items:
 
 Includes general corporate income and expense items which are not
 allocated to any business segment.
 
 Segment Policies:
 
 The company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the company as a whole.