1.  Estimated amount of contracts remaining to be executed on Capital
 Account not provided for Rs. 462.88 Lacs (Previous Year Rs. 1346.61
 Lacs).
 
 2.  Contingent Liabilities not provided for in respect of:
 
 (i).  Letter of credit issued by banks on behalf of the Company
 Rs.6,100.47Lacs(Previous year Rs.8032.46Lacs] 
 
 ( ii). Guarantee given by the banks on behalf of the Company Rs. 519.41
 Lacs Previous Rs.327.62Lacs) 
 
 (iii). Disputed Direct Taxes Rs.95.02Lacs(Previous Year Rs.222.77Lacs) 
 
 (iv). Disputed Indirect Taxes Rs.16.47Lacs (Previous Year Rs. 16.47
 Lacs]
 
 (v). Corporate Guarantees given to banks for Loans taken by
 Subsidiaries / Joint Venture companies Rs. 34,875 Lacs against which
 outstanding as on 31 st March 2011 is Rs. 20,674 Lacs
 
 3.  Foreign Currency exposure for import of capital goods and material
 that are not hedged as on31st March 2011 amount to Rs. 3359.38 Lacs
 (US$ 75,15,404) (Previous Year Rs.3602.48 Lacs(US,85,984))
 
 4.  (a) Under the package scheme of incentives of Government of
 Maharashtra the Company was entitled to defer its liability to pay
 sales tax after a period of 12 years in six equal installments
 commenced from they ear 2004 for unit at Tarapur. However sufficient
 provision has been made to meet sales tax obligation of Rs. 99.52 Lacs
 on the basis of net present value of such obligation as per circular
 issued by Government of Maharashtra and the Company is regular in
 making payment of Installments.
 
 (b) Under the package scheme of incentives of Government of Tamil Nadu
 the Company is entitled to defer its Sales Tax collection for a period
 of 9 years, repayment of which has commenced from 01/10/2005 for unit
 at Hosur. However, sufficient provision has been made to meet sales tax
 obligation of Rs. 293.93 Lacs on the basis of net present value of such
 obligation and the Company is regular in making payment of
 Installments.
 
 5. The consumption figures in respect of materials, stores and spares
 parts have been taken as balancing figure arrived at by deducting the
 closing stock (ascertained on physical count by management) from
 opening stock and purchases of the company during the year. Hence, the
 consumption figures included adjustments for excess and shortages.
 
 6.  In the opinion of the management, the Current Assets, Loans and
 Advances except doubtful debts have a value on realisation in the
 ordinary course of business, at least equal to the amount at which they
 are stated in the Balance Sheet. The provision is adequate and not in
 excess of what is required.
 
 7.  In the opinion of the management eventual recovery of the debts
 outstanding for a period exceeding six month is unascertainable due to
 filing of Legal Cases, however company has made 10% provision for
 doubtful debts against debts considered doubt ful for a period of six
 month to meet out any short fall arises on the realization of amount.
 
 8.  Calculation of Earning Per Share (EPS):
 
 Basic earning per share is calculated by dividing the net profit or
 loss for the period attributable to equity shareholders By the weighted
 average number of equity shares outstanding during the period. For the
 purpose of calculating diluted earning per share, the net profit or
 loss for the period attributable to equity shareholders and the
 weighted average number of shares out standing during the period are
 adjusted for the effects of all dilutive potential equity shares, if
 any
 
 9.  Segment Reporting:
 
 The Company is engaged in manufacture of polymer based products which
 as per accounting standard AS 17 on ''Segment Reporting'' issued by the
 Institute of Chartered Accountants of India is considered as the only
 reportable business segment. The Geographical segmentation is not
 relevant as all units are manufacturing polymer based products and risk
 and return involved within the country are common. Further the
 Financial statement of the company contain both the consolidated
 financial statement as well as the separate financial statement of the
 parent company .Accordingly, the company has also presented the
 segmental information on the basis of the consolidated financial
 statement as permitted by Accounting Standard -17.
 
 Defined Benefit Plan
 
 In respect of Gratuity Fund, The present value of obligation is
 determined based on Actuarial Valuation using the Projected Unit Credit
 Method, which recognizes each period of service as giving rise to
 additional unit of employee Benefit entitlement and measures each unit
 separately to build up the final obligation.
 
 10.  Balance in respect of sundry debtors, sundry creditors and loans
 and advances as on 31.03.2011 are subject to Confirmation and
 reconciliation and resultant adjustment if any and thus are taken as
 per the Books.
 
 11.  Share Base Compensation
 
 In accordance with the guidance note 18 Employee share base payment
 the following information relates to stock option granted by the
 company
 
 12. Capital Work in-progress comprises of cost of land, development and
 construction cost, plant & machinery and other equipments (including
 advances) Rs. 924,873,983 (P.Y.  Rs. 369,258,816): Project development
 expenditure includes borrowing cost, salaries & wages and other
 expenses Rs.42,098,478(P.Y. Rs.24,065,380).
 
 13. Previous years figures have been regrouped and restated wherever
 necessary to confirm the last year''s classification and figures shown
 in brackets are pertaining to previous year.