(a) Basis of accounting and preparation of financial statements.
 
 The financial statements are prepared as a going concern under
 historical cost convention on an accrual basis and comply on all
 material respects with the Generally Accepted Accounting Principles in
 India and the relevant provisions of the Companies Act, 1956. The
 accounting policies adopted in the preparation of the financial
 statements are consistent with those followed in the previous year
 except for change in the accounting policy for ''Foreign exchange
 transactions'' as more fully described in Note 1. (k). (iii).
 
 (b) 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 reported amounts of revenue and expenses
 during the reporting period. Examples of such estimates include
 provisions for doubtful debts, employee benefits, assessment of income
 taxes, estimated cost of contracts and useful lives of fixed assets.
 The estimates and underlying assumptions are reviewed on an ongoing
 basis. Difference between actual results and estimates are recognized
 in the periods in which the results are known/materialized.
 
 (c) Inventories
 
 Raw materials, work-in- progress and finished goods are valued at lower
 of cost and net realizable value on weighted average basis. Stores and
 spare parts and loose tools are valued at lower of cost and net
 realizable value.
 
 Cost of work- in- progress and finished goods is determined on full
 absorption cost basis.
 
 (d) Cash flow statement
 
 Cash flows are reported using the indirect method, whereby profit /
 (loss) before extraordinary items and tax is adjusted for the effects
 of transactions of non-cash nature and any deferrals or accruals of
 past or future cash receipts or payments. The cash flows from
 operating, investing and financing activities of the Company are
 segregated based on the available information.
 
 (e) Fixed assets Tangible fixed assets
 
 Tangible fixed assets are stated at original cost net of tax/duty
 credits availed, if any, less accumulated/ depreciation. Cost comprises
 of the purchase price and any attributable cost of bringing the assets
 to its working condition for its intended use. Interest on borrowings
 during the period of construction is added to the cost of fixed assets.
 Subsequent expenditure relating to fixed assets is capitalized only if
 such expenditure results in an increase in the future benefits from
 such asset beyond its previously assessed standard of performance.
 
 Intangible assets
 
 Intangible assets are carried at cost less accumulated amortization and
 impairment losses, if any. The cost of an intangible asset comprises
 its purchase price, including any import duties and other taxes (other
 than those subsequently recoverable from the taxing authorities), and 
 any directly attributable expenditure on making the asset ready for its 
 intended use and net of any trade discounts and rebates. Subsequent 
 expenditure on an intangible asset after its purchase / completion is 
 recognized as an expense when incurred unless it is probable that such 
 expenditure will enable the asset to generate future economic benefits 
 in excess of its originally assessed standards of performance and such 
 expenditure can be measured and attributed to the asset reliably, in 
 which case such expenditure is added to the cost of the asset.
 
 Capital work-in-progress
 
 Projects under which assets are not ready for their intended use and
 other capital work-in-progress are carried at cost, comprising direct
 cost, related incidental expenses and attributable interest.
 
 (f) Depreciation and amortization
 
 Depreciation on all tangible fixed assets is provided on straight line
 basis at the rates and in the manner specified in Schedule XIV to the
 Companies Act,1956.
 
 Technical know-how is amortized over the estimated period of benefit,
 not exceeding six years commencing from the date of purchase of the
 technology.
 
 Software expenditure is a mortised over five years commencing from the
 date when the expenditure is incurred.
 
 (g) Impairment of assets
 
 The carrying values of assets are reviewed at each Balance Sheet date
 for impairment. If any indication of impairment exists, the recoverable
 amount of such assets is estimated and impairment is recognized, if the
 carrying amount of these assets exceeds their recoverable amount. The
 recoverable amount is the greater of the net selling price and their
 value in use.  Value in use is arrived at by discounting the future
 cash flows to their present value based on an appropriate discount
 factor.  When there is indication that an impairment loss recognized
 for an asset in earlier accounting periods no longer exists or may have
 decreased, such reversal of impairment loss is recognized in the
 Statement of Profit and Loss, except in case of revalued assets.
 
 (h) Revenue recognition (other than contracts)
 
 Revenue from sale of goods / rendering of services is recognized on
 transfer of significant risks and rewards of ownership to the buyer.
 Sales excludes sales tax collected from customers.
 
 (i) Other income
 
 Interest income is accounted on accrual basis. Dividend income is
 accounted for when the right to receive it is established.
 
 (j) Accounting of contracts
 
 Revenue from long-term contracts, where the outcome can be estimated
 reliably is recognized on percentage completion method by reference to
 the stage of completion of the contract activity as required under
 Accounting Standard 7 - Construction Contracts. The stage of completion
 is determined as a proportion that contract costs incurred for work
 performed up to the closing date bear to the estimated total costs of
 the contract. Profit (contract revenue less contract cost) is
 recognized when the outcome of the contract can be estimated reliably
 and for contracts valued up to Rs.100 crores, profit is recognized when
 stage of completion is 40% or more, and for contracts valued more than
 Rs. 100 crores, profit is recognized either at 25% stage of completion
 or an expenditure of Rs. 40 crores is incurred whichever is higher.
 When it is probable that the total cost will exceed the total contract
 revenue, the expected loss is recognized immediately, irrespective of
 the work done. For this purpose total contract costs are ascertained on
 the basis of contract costs incurred and cost to completion of
 contracts which is estimated based on current technical data and
 estimate of costs to be incurred in future. Contract Revenue earned in
 excess of billing has been reflected under ''Other Current Assets'' and
 billing in excess of contract revenue is reflected under ''Other Current
 Liabilities'' in the Balance Sheet.
 
 (k) Foreign exchange transactions
 
 (i) Initial recognition
 
 Transactions in foreign currencies entered into by the Company and its
 integral foreign operations are accounted at the exchange rates
 prevailing on the date of the transaction or at rates that closely
 approximate the rate at the date of the transaction.
 
 (ii) Measurement of foreign currency monetary items at the Balance
 Sheet date
 
 Foreign currency monetary items (other than derivative contracts) of
 the Company and its net investment in non- integral foreign operations
 outstanding at the Balance Sheet date are restated at the year-end
 rates.
 
 (iii) Treatment of exchange differences
 
 Exchange differences arising on settlement / restatement of short-term
 foreign currency monetary assets and liabilities of the Company are
 recognized as income or expense in the Statement of Profit and Loss.
 The exchange differences on restatement / settlement of loans to
 non-integral foreign operations that are considered as net investment
 in such operations are accumulated in a Foreign currency translation
 reserve until disposal / recovery of the net investment.
 
 The exchange differences arising on restatement / settlement of
 long-term foreign currency monetary items are capitalized as part of
 the depreciable fixed assets to which the monetary item relates and
 depreciated over the remaining useful life of such assets or amortized
 on settlement / over the maturity period of such items if such items do
 not relate to acquisition of depreciable fixed assets. The unamortized
 balance is carried in the Balance Sheet as Foreign currency monetary
 item translation difference.
 
 During the year, in line with the Notification dated 29th December,2011
 issued by the Ministry of Corporate Affairs, the Company has opted for
 the option given in Paragraph 46A of the Accounting Standard-11 The
 Effects of Changes in Foreign Exchange Rates. Accordingly, the Company
 has, with effect from April 1, 2011, amortized the foreign exchange
 loss/(gain) incurred on foreign currency monetary items over the
 balance period of such long term foreign currency monetary items . The
 amortized portion of foreign exchange loss (net) incurred on long term
 foreign currency monetary items for the year ended 31st March, 2012 is
 Rs. 313.61 lakhs. The unamortized portion carried forward as on 31st
 March, 2012 is Rs. 226.93 lakhs. Had the Company, followed the earlier
 policy of charging the entire amount to Statement of Profit and Loss,
 the profit before tax for the year would have been lower by Rs. 226.93
 lakhs.
 
 (l) Accounting of forward contracts
 
 Premium / discount on forward exchange contracts, which are not
 intended for trading or speculation purposes, are amortized over the
 period of the contracts if such contracts relate to monetary items as
 at the Balance Sheet date.
 
 (m) Investments
 
 Long term investments are carried at cost and provisions are recorded
 to recognize any decline, other than temporary, in the carrying value
 of each investment. Current investments are carried at lower of cost
 and fair value.
 
 (n) Employee Benefits
 
 Employee benefits include provident fund, superannuation fund, gratuity
 fund and compensated absences.
 
 Defined contribution plans
 
 The Company''s contribution to provident fund and superannuation fund
 are considered as defined contribution plans and are charged as an
 expense as they fall due based on the amount of contribution required
 to be made.
 
 Defined benefit plans
 
 For defined benefit plans in the form of gratuity fund the cost of
 providing benefits is determined using the Projected Unit Credit
 method, with actuarial valuations being carried out at each Balance
 Sheet date. Actuarial gains and losses are recognized in the Statement
 of Profit and Loss in the period in which they occur. Past service cost
 is recognized immediately to the extent that the benefits are already
 vested and otherwise is a mortised on a straight-line basis over the
 average period until the benefits become vested. The retirement benefit
 obligation recognized in the Balance Sheet represents the present value
 of the defined benefit obligation as adjusted for un recognized past
 service cost, as reduced by the fair value of scheme assets. Any asset
 resulting from this calculation is limited to past service cost, plus
 the present value of available refunds and reductions in future
 contributions to the schemes. Long Service Awards are recognized as a
 liability at the present value of the defined benefit obligation as at
 the Balance Sheet date.
 
 Short-term employee benefits
 
 The undiscounted amount of short-term employee benefits expected to be
 paid in exchange for the services rendered by employees are recognized
 during the year when the employees render the service. These benefits
 include performance incentive and compensated absences which are
 expected to occur within twelve months after the end of the period in
 which the employee renders the related service.
 
 Long-term employee benefits
 
 Compensated absences which are not expected to occur within twelve
 months after the end of the period in which the employee renders the
 related service are recognized as a liability at the present value of
 the defined benefit obligation as at the Balance Sheet date less the
 fair value of the plan assets out of which the obligations are expected
 to be settled.
 
 (o) Borrowing costs
 
 Borrowing costs include interest, amortization of ancillary costs
 incurred and exchange differences arising from foreign currency
 borrowings to the extent they are regarded as an adjustment to the
 interest cost. Costs in connection with the borrowing of funds to the
 extent not directly related to the acquisition of qualifying assets are
 charged to the Statement of Profit and Loss over the tenure of the
 loan. Borrowing costs, allocated to and utilized for qualifying assets,
 pertaining to the period from commencement of activities relating to
 construction / development of the qualifying asset up to the date of
 capitalisation of such asset is added to the cost of the assets.
 
 (p) Segment reporting
 
 The Company identifies primary segments based on the dominant source,
 nature of risks and returns and the internal organization and
 management structure. The operating segments are the segments for which
 separate financial information is available and for which operating
 profit/loss amounts are evaluated regularly by the Executive Management
 in deciding how to allocate resources and in assessing performance.
 
 The accounting policies adopted for segment reporting are in line with
 the accounting policies of the Company. Segment revenue, segment
 expenses, segment assets and segment liabilities have been identified
 to segments on the basis of their relationship to the operating
 activities of the segment.
 
 Revenue, expenses, assets and liabilities which relate to the Company
 as a whole and are not allocable to segments on reasonable basis have
 been included under Unallocated revenue/expenses/assets/liabilities
 
 (q) Taxes on income
 
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the Income Tax
 Act, 1961.
 
 Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which
 gives future economic benefits in the form of adjustment to future
 income tax liability, is considered as an asset if there is convincing
 evidence that the Company will pay normal income tax. Accordingly, MAT
 is recognized as an asset in the Balance Sheet when it is probable that
 future economic benefit associated with it will flow to the Company.
 
 Deferred tax is recognized on timing differences, being the differences
 between the taxable income and the accounting income that originate in
 one period and are capable of reversal in one or more subsequent
 periods. Deferred tax is measured using the tax rates and the tax laws
 enacted or substantially enacted as at the reporting date. Deferred tax
 liabilities are recognized for all timing differences. Deferred tax
 assets in respect of unabsorbed depreciation and carry forward of
 losses are recognized only if there is virtual certainty that there
 will be sufficient future taxable income available to realize such
 assets. Deferred tax assets are recognized for timing differences of
 other items only to the extent that reasonable certainty exists that
 sufficient future taxable income will be available against which these
 can be realized.  Deferred tax assets are reviewed at each Balance
 Sheet date for their reliability.
 
 (r) Research and development
 
 Research and development costs (other than cost of fixed assets
 acquired) are charged as an expense in the year in which they are
 incurred. Fixed assets utilized for research and development are
 capitalized and depreciated in accordance with the policies stated for
 Fixed Assets.
 
 (s) Provisions, contingent liabilities and contingent assets
 
 A provision is recognized when the Company has a present obligation as
 a result of past event and it is probable that an outflow of resources
 embodying economic benefit will be required to settle the obligation
 and in respect of which a reliable estimate can be made. Provisions are
 determined based on best estimates of the expenditure required to
 settle the present obligation. Contingent Liabilities are not
 recognized but disclosed in the notes. A disclosure for a contingent
 liability is made, unless the possibility of an outflow of resources is
 remote.
 
 Provision for anticipated warranty costs is made on the basis of
 technical and available cost estimates.
 
 Contingent Assets are neither recognized nor disclosed in the Financial
 Statements.
 
 (t) Derivative
 
 The Company enters into derivative contracts in the nature of foreign
 currency swaps, forward contracts with an intention to hedge its
 existing assets and liabilities, firm commitments and highly probable
 transactions. Derivative contracts which are closely linked to the
 existing assets and liabilities are accounted as per the policy stated
 for Foreign Currency Transactions and Translations.
 
 (ii) Terms/Rights attached to Equity Shares
 
 The company has only one class of equity shares having a par value of
 Rs 10 per share. Each equity shareholder is entitled to one vote per
 share. The company declares and pays dividend in Indian Rupees. The
 dividend proposed by the Board of Directors is subject to the approval
 by the shareholders in the ensuing Annual General Meeting.
 
 During the year ended 31st March 2012, the amount of per share dividend
 recognized as distribution to equity shareholders was Rs 4 per share
 (Previous year: Rs 2 per share).
 
 In the event of the liquidation of the company, the holders of equity
 shares will be entitled to receive remaining assets of the company,
 after the distribution of all preferential amounts. The distribution
 will be in proportion to the number of equity shares held by the
 shareholders.
 
 Notes :
 
 (i) Long term loan from DBS Bank aggregating Rs. 5,746.91 lakhs
 (previous year Rs. 6,090.53 lakhs) is secured by pari passu first
 charge on the fixed assets of the Company.
 
 (ii) Long term loan from Dena Bank aggregating Rs. 3,000 lakhs
 (previous year Rs 3,000 lakhs) is secured by pari passu first charge on
 the fixed assets and second charge on the current assets of the
 Company.
 
 (iii) Long term loan from Axis Bank aggregating Rs. 4,267.17 lakhs
 (previous year Rs. nil) is secured by first pari passu first charge on
 the fixed assets of the company, present and future except asset
 charged exclusively to Small Industries Development Bank of India
 (SIDBI), and second charge on the current assets of the Company.
 
 Note : Details of the security for the short-term borrowings
 
 Buyers'' line of credit, cash credit and short term loans from banks are
 secured by hypothecation, ranking pari passu, of all tangible movable
 assets including in particular stocks of raw materials other than those
 purchased under Bill discounting (components) scheme of Small
 Industries Development Bank of India (SIDBI), finished goods,
 work-in-progress, consumables, spares and other movable assets and book
 debts, out standings and all other receivables. Facilities from Canara
 Bank and Central Bank of India aggregating Rs. 3,780.88 lakhs (previous
 year Rs. 26.64 lakhs) and Rs. 4,490.55 lakhs (previous year Rs.
 4,458.92 lakhs) respectively, are also secured, by hypothecation
 ranking pari passu, of fixed assets, present and future, except on an
 asset hypothecated to SIDBI as first charge.