The Financial Statements are prepared to comply in all material aspects
 with all the applicable accounting principles in India, the applicable
 Accounting Standards prescribed under section 211 (3C) of the Companies
 Act, 1956 (the Act) and the relevant provisions of the Companies Act,
 1956.
 
 a) FIXED ASSETS
 
 Fixed Assets ( comprising both tangible and intangible items ) are
 stated at cost of acquisition, manufacture and subsequent improvements
 thereto including taxes and duties (net of credits and draw backs),
 freight and other incidental expenses related to acquisition and
 installation. Preoperative expenses, where appropriate, are capitalised
 till the commercial use of the assets and write up due to revaluation
 of assets are separately stated.
 
 b) DEPRECIATION
 
 i) Depreciation ( including amortisation ) is provided on Straight Line
 Method at the rates specified in Schedule XIV to the Companies Act,
 1956 other than the following :
 
 - Certain items of Plant and Machinery - 20%
 
 - Computer Softwares                   - 20%
 
 In respect of assets existing as on 16th December, 1993, the specified
 period has been recomputed in terms of the Notification No.GSR 756E
 dated 16th December, 1993 read with Circular No.14/93 dated 20th
 December, 1993 with respect to revised rates and depreciation has been
 provided by allocating net book value of fixed assets as at the
 beginning of the year over the remaining recomputed lives of respective
 assets.
 
 ii) Leasehold Land is amortised over the tenure of respective leases.
 
 iii) Mining Lease and Development is amortised over the tenure of lease
 or estimated useful life of the mine, whichever is shorter.
 
 iv) No depreciation is provided on assets which are being used for
 trial run.
 
 v) Certain Plants are considered to be continuous process plant based
 on technical evaluation.
 
 c) CAPITAL WORK-IN-PROGRESS
 
 These are stated at cost and inclusive of preoperative expenses,
 project development expenses pending allocation and assets-in- transit.
 
 d) IMPAIRMENT LOSS
 
 An impairment loss, if any, is recognised wherever the carrying amount
 of the fixed assets exceeds the recoverable amount i.e. the higher of
 the assets net selling price and value in use.
 
 e) INVESTMENTS
 
 Current Investments i.e. investments which are expected to be
 liquidated within one year are treated as Current Assets and are valued
 at lower of cost and net realisable value. Long term investments are
 stated at cost or under and diminution in carrying amount, other than
 temporary, is written down/ provided for.
 
 f) INVENTORIES
 
 Inventories other than scrap are valued at lower of cost and estimated
 net realisable value. Cost is determined on Weighted Average basis.
 Scrap is valued at estimated net realisable value.
 
 g) TRANSACTIONS IN FOREIGN CURRENCIES
 
 Transactions in Foreign currencies are recorded at exchange rates
 prevailing on the date of the transaction. Monetary items denominated
 in foreign currency are restated at the exchange rate prevailing on the
 balance sheet date. Foreign currency non- monetary items carried in
 terms of historical cost are reported using the exchange rate at the
 date of transactions. Exchange differences arising on settlement of
 transactions and/ or restatements are dealt with in the Profit and Loss
 Account.
 
 h) DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING
 
 The Company uses derivative financial instruments such as foreign
 exchange contracts, currency swaps, option contracts, interest rate
 swaps etc. to hedge its exposure to movements in foreign exchange rates
 and interest rates relating to the underlying transactions, highly
 probable forecast transactions and firm commitments.
 
 Effective April 1, 2009 the Company adopted Accounting Standard 30,
 “Financial Instruments: Recognition and Measurement” issued by The
 Institute of Chartered Accountants of India to the extent the adoption
 does not contradict with existing Accounting Standards and other
 authoritative pronouncements of the Companies Act, 1956 of India and
 other regulatory requirements.
 
 For option contracts and interest rate swaps that are designated as
 effective cash flow hedges, the gain or loss from the effective portion
 of the hedge is recorded and reported directly in reserves (under the
 “Hedging Reserve Account”) and are reclassified into the Profit and
 Loss Account upon the occurrence of the hedged transactions.
 
 The Company recognises gains or losses from changes in fair values of
 option contracts and interest rate swaps that are not designated as
 cash flow hedges in the Profit and Loss Account in the period in which
 they arise. In respect of forward exchange contracts with underlying
 transactions, the premium or discount arising at the inception of such
 contract is amortised as expenses or accounted for as income over the
 life of contracts.
 
 Other Derivative contracts outstanding at the Balance Sheet date are
 marked to market and resulting net loss, if any, is provided for in the
 financial statements.
 
 Any profit or losses arising on cancellation of derivative instruments
 are recognised as income or expenses for the period.
 
 i) REVENUE RECOGNITION
 
 Income and Expenditure are recognised on accrual basis unless otherwise
 stated. Revenue is recognised on completion of sale of goods, rendering
 of services and use of the Companys resources by third parties. Sales
 are recorded net of trade discount, sales return, rebates and sales
 taxes but including excise duties and export incentives.
 
 Dividend income on investments is accounted for when the right to
 receive the payment is established.
 
 Interest income is recognised on a prudent basis where there is
 reasonable certainty as to realisation.
 
 j) EMPLOYEE BENEFITS
 
 (i) Short -term Employee Benefits :
 
 The undiscounted amount of Short-term Employee Benefits expected to be
 paid in exchange for the services rendered by employees is recognised
 during the period when the employee renders the service.
 
 (ii) Post Employment Benefit Plans :
 
 Contributions under Defined Contribution Plans payable in keeping with
 the related schemes are recognised as expenses for the year.
 
 For Defined Benefit Plans, 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
 recognised in full in the Profit and Loss Account for the period in
 which they occur. Past service cost is recognised immediately to the
 extent that the benefits are already vested , and otherwise is
 amortised on a straight-line basis over the average period until the
 benefits become vested.  The retirement benefit obligation recognised
 in the Balance Sheet represents the present value of the defined
 benefit obligation as adjusted for unrecognised past service cost, and
 as reduced by the fair value of scheme assets where such plans are
 funded.  Measurement of any assets resulting from this calculation is
 limited to the present value of economic benefits available in the form
 of refunds from the plan or reductions in future contributions to the
 scheme.
 
 (iii) Other Long-term Employment Benefits (unfunded)
 
 The cost of providing long-term employee benefits is generally
 determined using Projected Unit Credit Method with actuarial valuation
 being carried out at each Balance Sheet date. Actuarial gains and
 losses and past service cost are recognised immediately in the Profit
 and Loss Account for the period in which they occur. Other long term
 employee benefit obligation recognised in the Balance Sheet represents
 the present value of related obligation.
 
 k) BORROWING COST
 
 Borrowing Cost attributable to the acquisition and construction of
 qualifying assets are added to the cost up to the date when such assets
 are ready for their intended use. Other borrowing costs are recognised
 as expenses in the period in which these are incurred.
 
 l) RESEARCH AND DEVELOPMENT EXPENDITURE
 
 Revenue expenditure on Research and Development (R & D) is charged in
 the year in which it is incurred. Capital Expenditure for R & D are
 capitalised.
 
 m) GOVERNMENT GRANTS
 
 Government grants of the nature of promoters contribution are credited
 to Capital Reserve.
 
 Government grants related to specific fixed assets are deducted from
 gross values of related assets in arriving at their book values.
 
 Government grants related to revenue are recognised on a systematic
 basis in the Profit and Loss Account over the periods necessary to
 match them with their related costs.
 
 n) TAXATION
 
 Current Tax in respect of taxable income is provided for the year based
 on applicable tax rates and laws. Deferred tax is recognised subject to
 the consideration of prudence in respect of deferred tax assets, on
 timing differences, being the difference between taxable income and
 accounting income that originate in one period and are capable of
 reversal in one or more subsequent periods and is measured using tax
 rates and laws that have been enacted or substantively enacted by the
 Balance Sheet date. Deferred tax assets are reviewed at each Balance
 Sheet date to re-assess realisation.
 
 o) PROVISION AND CONTINGENT LIABILITIES
 
 The Company recognises a provision when there is a present obligation
 as a result of a past event that probably requires an outflow of
 resources and a reliable estimate can be made of the amount of the
 obligation. A disclosure for a contingent liability is made when there
 is a possible obligation or a present obligation that may, but probably
 will not, require an outflow of resources or there is a present
 obligation, reliable estimate of the amount of which cannot be made.
 Where there is a possible obligation or a present obligation and the
 likelihood of outflow of resources is remote, no provision or
 disclosure for contingent liability is made.