(a) Basis of accounting
 
 The financial statements are prepared and presented under the historical
 cost convention, on the accrual basis of accounting in accordance with
 the Indian Generally Accepted Principles and accounting standards as
 notifed under the Companies (Accounting Standards) Rules, 2006, and the
 presentation requirements of the Companies Act, 1956 to the extent
 applicable.
 
 (b)  Use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires the management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities, the disclosure of contingent liabilities on the date
 of the financial statements and the reported amounts of revenue and
 expenses during the reporting year. Actual results could differ from
 those estimates. Any revision to accounting estimates is recognised
 prospectively in current and future years.
 
 (c) Revenue recognition
 
 Revenue from sale of goods is recognised on transfer of all signifcant
 risks and rewards of ownership in the goods to the customer.
 
 Revenue from services is recognised on rendering of services to
 customers.
 
 Interest income is recognised using the time proportion method, based
 on underlying interest rates.
 
 Revenue from long-term construction contracts in accordance with
 Accounting Standard-7 on Construction Contracts is recognized using
 the percentage of completion method. Percentage of completion method is
 determined as a proportion of cost incurred to date to the total
 estimated contract cost. Where the total cost of the contract, based on
 technical and other estimates, is expected to exceed the corresponding
 contract value, such excess is provided during the year.
 
 Duty drawback available under prevalent scheme is accrued in the year
 when the right to receive credit as per the terms of scheme are
 established and these are accounted to the extent there is no
 signifcant uncertainty about the measurability and ultimate utilization
 of such duty credit.
 
 (d) Fixed assets and capital work-in-progress
 
 Fixed assets, including capital work in progress are stated at cost of
 acquisition or construction less accumulated depreciation. Cost
 comprises the purchase price and any directly attributable costs of
 bringing the asset to its working condition for the intended use.
 
 (e) Borrowing Cost
 
 Financing costs relating to borrowed funds attributable to construction
 or acquisition of qualifying assets for the period up to the completion
 of construction or acquisition of such assets are included in the cost
 of the assets.
 
 (f) Impairment
 
 The carrying values of assets are reviewed at each reporting date to
 determine whether there are any indication of impairment. If such
 indication exists, the amount recoverable towards such asset is
 estimated.  An impairment loss is recognised whenever the carrying
 amount of an asset or its cash generating unit exceeds its recoverable
 amount. Impairment losses are recognised in the Profit and Loss Account.
 An impairment loss is reversed if there has been been a change in the
 estimates used to determine the recoverable amount. An impairment loss
 is reversed only to the extent that the asset''s carrying amount does
 not exceed the carrying amount that would have been determined net of
 depreciation or amortisation, if no impairment loss has been
 recognised.
 
 (g) Depreciation
 
 Depreciation is provided on a pro-rata basis under the straight line
 method. The rates of depreciation prescribed in Schedule XIV to the
 Companies Act, 1956 are considered as the minimum rates. If the
 management''s estimate of the useful life of a fxed asset at the time of
 acquisition of the asset or of the remaining useful life on a
 subsequent review is shorter than that envisaged in the aforesaid
 schedule, depreciation is provided at a higher rate based on the
 management''s estimate of the useful life/ remaining useful life. Rates
 of depreciation (where different from the rates prescribed in Schedule
 XIV to the Companies Act, 1956) have been derived on the basis of the
 following estimated useful lives:
 
 *Included in Buildings in Schedule 5 of the financial statements
 
 **Included in Plant and Machinery in Schedule 5 of the financial
 statements
 
 Leasehold land is amortised over the period of the lease. Leasehold
 improvements are depreciated over the period of lease or the useful
 life of the underlying asset, whichever is less.
 
 Depreciation on additions is being provided on a pro rata basis from
 the date of such additions. Similarly, depreciation on assets
 sold/disposed off during the year is being provided up to the date on
 which such assets are sold/disposed off.
 
 Assets costing individually Rs. 5,000 or less are depreciated fully in
 the year of purchase.
 
 (h) Intangible assets
 
 Intangible assets comprise computer software and technical know-how and
 are stated at cost, including taxes, less accumulated amortisation.
 Computer software is amortised on a straight line basis over three
 years. Technical know-how is amortised on a straight line basis over
 its estimated useful life, the period over which the Company expects to
 derive economic Benefits from the use of the technical know-how.
 
 (i) Inventories
 
 Inventories are valued at the lower of cost and net realisable value.
 Cost includes all applicable costs incurred in bringing goods to their
 present location and condition, determined on a frst in frst out basis.
 In determining the cost of inventories, fxed production overheads are
 allocated on the basis of normal capacity of production facilities.
 
 Contract work in progress includes contract costs that relate to future
 activity on the long term construction contract, such as costs of
 materials that have been delivered to a contract site or set aside for
 use in a contract but not yet installed, used or applied during
 contract performance and excludes the materials which have been made
 specially for such contracts.
 
 (j) Foreign currency transactions
 
 Foreign currency transactions are recorded at the exchange rate
 prevailing on the date of the respective transactions. Monetary foreign
 currency assets and liabilities remaining unsettled at the balance
 sheet date are translated at exchange rates prevailing on that date.
 Gains/losses arising on account of realisation/settlement of foreign
 currency transactions and on translation of foreign currency assets and
 liabilities are recognised in the Profit and Loss Account.
 
 The premium or discount that arises on entering into a forward exchange
 contract for hedging underlying assets and liabilities is measured by
 the difference between the exchange rate at the date of inception of
 the forward exchange contract and the forward rate specifed in the
 contract and is amortised as expense or income over life of the
 contract. Exchange difference on forward exchange contract is the
 difference between:
 
 (a) the foreign currency amount of the contract translated at the
 exchange rate at the reporting date, or the settlement date where the
 transaction is settled during the reporting period, and;
 
 (b) the same foreign currency amount translated at the latter of the
 date of inception of the forward exchange contract and the last
 reporting date.
 
 These exchange differences are recognised in the statement of Profit and
 loss in the reporting period in which the exchange rates change.
 
 (k) Provisions and contingencies
 
 A provision is created when there is a present obligation as a result
 of a past event that entails a probable outflow of resources and a
 reliable estimate can be made of the amount of the obligation.
 Disclosure of a contingent liability is made when there is a possible
 but not probable obligation or a present obligation that may, but
 probably will not, entail an outflow of resources. When there is an
 obligation in respect of which the likelihood of outflow of resources is
 remote, no provision or disclosure is made.
 
 (l) Taxation
 
 Income-tax expense comprises current tax (i.e. amount of tax for the
 year determined in accordance with the income-tax law) and deferred tax
 charge or credit (refecting the tax effects of timing differences
 between accounting income and taxable income for the year). The
 deferred tax charge or credit and the corresponding deferred tax
 liabilities and assets are recognised using the tax rates that have
 been enacted or substantively enacted by the Balance Sheet date.
 Deferred tax assets are recognised only to the extent there is
 reasonable certainty that the assets can be realised in future;
 however, where there is unabsorbed depreciation or carried forward
 losses under taxation laws, deferred tax assets are recognised only if
 there is a virtual certainty of realisation of such assets. Deferred
 tax assets are reviewed as at each balance sheet date and are written
 down or written up to refect the amount that is reasonably/virtually
 certain (as the case may be) to be realised.  
 
 (m) Employee Benefits
 
 1.  All employee Benefits payable/available within twelve months of
 rendering the service are classifed as short-term employee Benefits.
 Benefits such as salaries, wages and bonus etc., are recognised in the
 Profit and Loss Account in the year in which the employee renders the
 related service.
 
 2.  Provident fund is a defned contribution scheme. Contributions
 payable to the provident fund are charged to the Profit and Loss
 Account.
 
 3.  Superannuation fund is a defned contribution scheme. The Company
 contributes to schemes administered by the Life Insurance Corporation
 of India (‘LIC'') to discharge its superannuation liabilities.  The
 Company''s contribution paid/payable under the scheme is recognised as
 an expense in the Profit and Loss Account during the period in which the
 employee renders the related service.
 
 4.  Gratuity costs are defned Benefits plans. The present value of
 obligations under such defned Benefit plan is determined based on
 actuarial valuation carried out by an independent actuary using the
 Projected Unit Credit Method, which recognises each period of service
 as giving rise to additional unit of employee Benefit entitlement and
 measure each unit separately to build up the fnal obligation.
 
 The obligation is measured at the present value of estimated future
 cash flows. The discount rates used for determining the present value of
 obligation under defned Benefit plans, is based on the market yields on
 Government securities as at the balance sheet date, having maturity
 periods approximating to the terms of related obligations.
 
 Annual contributions are made to the employee''s gratuity fund,
 established with the LIC based on an actuarial valuation carried out by
 the LIC as at 31 March each year. The fair value of plan assets is
 reduced from the gross obligation under the defned Benefit plans, to
 recognise the obligation on net basis. Actuarial gains and losses are
 recognised immediately in the Profit and loss account.  Gains or losses
 on the curtailment or settlement of any defned Benefit plan are
 recognised when the curtailment or settlement occurs.
 
 5.  Benefits under the Company''s leave encashment scheme constitute
 other long term employee Benefits. The obligation in respect of leave
 encashment is provided on the basis on actuarial valuation carried out
 by an independent actuary using the Projected Unit Credit Method, which
 recognises each period of service as giving rise to additional unit of
 employee Benefit entitlement and measure each unit separately to build
 up the fnal obligation.
 
 The obligation is measured at the present value of estimated future
 cash flows. The discount rates used for determining the present value of
 obligation under defned Benefit plans, is based on the market yields on
 Government securities as at the balance sheet date, having maturity
 periods approximating to the terms of related obligations.
 
 Annual contributions are made to the employee''s leave encashment fund,
 established with the LIC based on an actuarial valuation carried out by
 the LIC as at 31 March each year. The fair value of plan assets is
 reduced from the gross obligation, to recognise the obligation on net
 basis. Actuarial gains and losses are recognised immediately in the
 Profit and loss account.
 
 (n) Investments
 
 Long term investments are valued at cost. Any decline other than
 temporary, in the value of long-term investments, is adjusted in the
 carrying value of such investments. Diminution, if any, is determined
 individually for each long-term investment. Current investments are
 valued at the lower of cost and fair value of individual scrips.
 
 (o) Earnings per share
 
 Basic earnings per share are computed by dividing the net Profit/(loss)
 for the year attributable to the equity shareholders with the weighted
 average number of equity shares outstanding during the year.  Diluted
 earnings per share are computed using the weighted average number of
 equity and dilutive potential equity shares outstanding during the
 year, except where the results would be anti-dilutive.
 
 (p) Leases
 
 Lease arrangements where the risks and rewards incidental to ownership
 of an asset substantially vest with the lessor are classifed as
 operating leases. Lease rents under operating leases are recognized in
 the Profit and Loss Account on a straight line basis over the lease
 term.
 
 (q) Events occurring after the balance sheet date
 
 Adjustment to assets and liabilities are made for events occurring
 after the balance sheet date that provide additional information
 materially affecting the determination of the amount of assets and
 liabilities relating to condition existing at the balance sheet date.