(i) Nature of Operations
 
 Timken India Limited is into manufacture and distribution of Tapered
 Roller Bearings, Components & accessories for the Automotive Sector and
 the Railway Industry. It also provides maintenance contract services.
 
 (ii) Basis of Preparation
 
 The financial statements have been prepared to comply in all material
 respects with the accounting standards notified by the Companies''
 (Accounting Standards) Rules, 2006,(as amended) and the relevant
 provisions of the Companies Act, 1956. The financial statements have
 been prepared under the historical cost convention on an accrual basis.
 The accounting policies are consistent with those used in the previous
 year, unless otherwise stated.
 
 (iii) 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. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 (iv) 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.
 
 Sale of Goods
 
 Revenue from sale of goods is recognized when the significant risks and
 rewards of ownership of the goods have passed to the buyer, which
 generally coincides with delivery to the customers. Excise Duty
 deducted from turnover (gross) is the amount that is included in the
 amount of turnover (gross) and not the entire amount of liability
 arisen during the year.
 
 Income from Services
 
 Revenue from Agency Commission and Maintenance and Service Contracts
 are recognized as and when services are rendered.
 
 Export Incentives under the Duty Entitlement Pass Book (DEPB) / Duty
 drawback scheme are recognized when such incentive accrues upon export
 of goods, in applicable cases.
 
 Dividend Income
 
 Revenue for dividend income is recognized when the right to receive
 payment is established by the balance sheet date.
 
 (v) Fixed Assets
 
 Fixed Assets are stated at cost of acquisition less accumulated
 depreciation and impairment loss (if any). Cost of acquisition includes
 duties (net of Cenvat), taxes, incidental expenses, erection /
 commissioning expenses. Borrowing costs relating to acquisition of
 fixed assets which takes substantial period of time to get ready for
 its intended use are also included to the extent they relate to the
 period till such assets are ready to be put to use.
 
 (vi) Cash & Cash Equivalents
 
 Cash and cash equivalents for the purpose of cash flow statement
 comprise cash at bank, in hand, cheques in hand and short- term
 investments with an original maturity of three months or less.
 
 (vii) Depreciation
 
 Depreciation is provided under straight line method as per the useful
 lives of the assets estimated by the management, or at the rates
 prescribed under Schedule XIV of the Companies Act, 1956, whichever is
 higher.
 
 Additions / deletions during the year are depreciated pro-rata from the
 date of such addition / deletion except assets costing below Rs. 5000
 which are fully depreciated in the year they are put to use. Extra
 shift depreciation is calculated on actual shift basis in respect of
 each operating department.
 
 (viii) Foreign Currency Translations
 
 (a) 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.
 
 (b) Conversion
 
 Foreign currency monetary items are reported using the closing rate.
 Non-monetary items which are 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 rates that existed
 when the values were determined.
 
 (c) Exchange Differences
 
 Exchange differences arising on the settlement of monetary items not
 covered above, 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.
 
 (d) Forward Exchange Contracts not intended for trading or speculation
 purposes
 
 The premium or discount arising at the inception of forward exchange
 contracts is amortised as expense or income over the life of the
 contract. Exchange differences on such contracts are recognised 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 recognised as income or as expense for the
 year.
 
 (ix) Inventories
 
 Inventories are valued as follows :
 
 Raw materials, Lower of cost and net realizable value. However,
 materials and other items held for use in the components, production of
 inventories are not written down below cost if the finished products in
 which they will stores and be incorporated are expected to be sold at
 or above cost.  Cost is determined on a weighted average spares basis.
 
 Work-in-progress Lower of cost and net realizable value. Cost includes
 direct materials and labour and a proportion of and finished
 manufacturing overheads based on normal operating capacity. Cost of
 finished goods includes goods excise duty. Cost is determined on a
 weighted average basis.
 
 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.
 
 (x) Retirement Benefits
 
 a) Gratuity is administered through an approved benefit fund. Gratuity
 liability is defined benefit obligation and is provided for on the
 basis of an actuarial valuation on projected unit credit method made at
 the end of each financial year.
 
 b) The liability on account of long term compensated absences and death
 benefit scheme due to the employees are provided for on the basis of an
 actuarial valuation on projected unit credit method at the end of each
 financial year.
 
 c) Retirement benefits in the form of Provident Fund and Superannuation
 / Pension Schemes are charged to the Profit & Loss Account of the year
 when the contribution to the respective funds are accrued. Interest
 shortfall, if any, on Provident Fund are provided for based on year-end
 actuarial valuation on projected unit credit method.
 
 d) Actuarial gains/losses are immediately taken to profit and loss
 account and are not deferred.
 
 (xi) Excise Duty
 
 Excise Duty is accounted for at the point of manufacture of goods and
 accordingly, is considered for valuation of finished goods stock lying
 in the manufactu ring locations as on the balance sheet date.
 
 (xii) Leases
 
 Assets taken on Lease
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased item, 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.
 
 Assets given on Lease
 
 Assets subject to operating leases are included in fixed assets. Lease
 income is recognized in the profit and loss account on a straight line
 basis over the lease term. Costs, including depreciation are recognized
 as an expense in the profit and loss account.  An initial direct cost
 such as legal and professional cost is recognised immediately in the
 profit and loss account.
 
 (xiii) Income Taxes
 
 Tax expense comprises current and deferred tax. Current income tax is
 measured at the amount expected to be paid to the tax authorities in
 accordance with the Indian Income Tax Act, 1961 enacted in India.
 Deferred income 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 recognized 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 realized. 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 that sufficient
 future taxable income will be available against which deferred tax
 asset can be realized. Any such write-down is reversed to the extent
 that it becomes reasonably certain that sufficient future taxable
 income will be available.
 
 (xiv) Investments
 
 Investments that are readily realizable 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 or fair market value
 determined on an individual investment basis. Long-term investments are
 carried at cost. However, provision for diminution in value is made to
 recognize a decline other than temporary in the value of long-term
 investments.
 
 (xv) Borrowing Costs
 
 a) Borrowing costs that are directly attributable to the acquisition /
 construction of a qualifying asset are capitalized as part of the cost
 of that asset till the time it is ready to put to use.
 
 b) All other borrowing costs are recognized as expenditure during the
 period in which these are incurred. Borrowing costs consist of interest
 and other cost that an entity incurs in connection with the borrowing
 of funds.
 
 (xvi) Provisions
 
 A provision is recognized when an enterprise 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.
 
 (xvii) Contingent Liabilities
 
 No provision is made for liabilities which are contingent in nature,
 unless it is probable that future events will confirm that a liability
 is incurred as at the balance sheet date and a reasonable estimate of
 the resulting loss can be made. However, all known, material contingent
 liabilities are disclosed by way of separate notes.
 
 (xviii) Impairment
 
 a) 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 using a pre-tax discount
 rate that reflects cu rrent market assessments of the time value of
 money and risks specific to the asset.
 
 b) After impairment, depreciation is provided on the revised carrying
 amount of the assets over its remaining useful life.
 
 c) A previously recognized impairment loss is increased or reversed
 depending on changes in circumstances. However 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.
 
 (xix) Earnings Per Share
 
 Basic Earnings per share is calculated by dividing the net profit for
 the year attributable to equity shareholders by the weighted average
 number of equity shares outstanding during the year.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the year attributable to equity shareholders and the
 weighted average number of shares outstanding during the year are
 adjusted for the effects of all dilutive potential equity shares.
 
 (xx) Segment Reporting Policies Identification of segments:
 
 The Company''s business includes manufacture and sale of bearings and
 related components and providing services in connection with or
 incidental to such sales. This is the only reportable business segment
 which is also the primary reportable segment.
 
 Secondary reportable segments are based on geographical location of
 customers. The geographical segments have been disclosed based on
 revenues within India and outside India.
 
 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.
 
 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.