Note: Cost of tooling purchased during the earlier years were fully
 expensed for the purpose of ascertaining income tax liability for that
 years. Vide order dated December 16, 2003, the Income Tax Appellate
 Tribunal (ITAT) directed the department to allow expenses based on
 quantity consumed. The Company has disputed such decision on the
 contention that the entire purchase is issued to the production process
 and hence should be treated as consumption. Relevant order from
 authorities giving effect of ITAT order is yet to be received. The
 Company has made an application to the Hon''ble High Court at Calcutta
 seeking further clarifications of the ITAT order. The Company has again
 claimed full deduction in respect of tooling received during the year
 for determining the taxable income for the assesment year 2009-2010 and
 thereafter. Contingent liability with respect to tooling is included in
 para
 
 (A) above, ''other income tax matters''.
 
 (i) A counter claim has been filed against the Company before the
 Hon''ble High Court at Calcutta by a customer for claims aggregating Rs.
 74,921 (Previous Year 74,921) regarding certain disputes relating to
 goods supplied by the Company in prior years.
 
 * Does not include liability for gratuity and leave encashment which
 are provided on actuarial basis for the Company as a whole
 
 # Includes Performance Incentive of Rs 1,714 payable during 2012
 (Previous year Rs 5,157 payable during 2011)
 
 1.  Segment Reporting
 
 I) Segments have been identified in line with the Accounting Standard
 on Segment Reporting (AS 17) notified by Companies (Accounting
 Standard) Rules, 2006 (as amended), taking into account the nature of
 products and services, the different risks and returns, the
 organisational structure and the internal financial reporting system.
 The Company is engaged in the business of manufacturing, trading and
 sale of refractories. It has manufacturing location in India only.
 Based on the dominant source and nature of risk and returns of the
 Company, its internal organisation and management structure and its
 system of internal financial reporting, business segment has been
 identified as the primary segment. The Company has only one business
 segment.
 
 2.  Information in accordance with the requirements of Accounting
 Standard 18 on Related Party Disclosures notified by the Companies
 (Accounting Standards) Rules, 2006 (as amended).
 
 A) List of Related parties and relationship
 
 i) Enterprises having control over the Company
 
 Cookson Group plc., United Kingdom, ultimate Holding Company
 
 Cookson Financial Limited, United Kingdom, Holding Company of Vesuvius
 Group Limited, U.K.
 
 Vesuvius Group Limited, United Kingdom - Holding Company
 
 ii) Fellow Subsidiaries (with whom transactions have taken place during
 the year and the previous year) 
 
 Vesuvius Group S. A.
 
 Vesuvius Deutschland GmbH 
 
 Vesuvius South Africa (Pty) Limited 
 
 Vesuvius UK Limited 
 
 Vesuvius Crucible Company 
 
 Vesuvius USA Vesuvius Italia SPA
 
 Vesuvius Advanced Ceramics (Suzhou) Co. Ltd.
 
 Wuhan Wugang Vesuvius Advanced Ceramics Co. Ltd.
 
 Advent Processing Engineering Inc.
 
 Vesuvius Mexico S.A. de C.V.
 
 Vesuvius Becker & Piscantor Grobal meroder Schmelztiegelwerke GmbH
 
 Vesuvius Malaysia SDN BHD 
 
 Vesuvius Corporation S. A.
 
 Vesuvius France S. A.
 
 Vesuvius Poland Sp., z.o.o. (Formerly Vesuvius Skawina Materialy
 Ogniotrwale Sp., z.o.o.)
 
 Vesuvius USA Corporation FCAD 
 
 Vesuvius Ceska Republica, a.s 
 
 Cookson Plibrico Pty Limited 
 
 Yingkou Bayuquan Refractories Co., Ltd.
 
 Vesuvius UK Limited, Korea Branch 
 
 Vesuvius Zyarock Ceramics (Suzhou) Co. Ltd.
 
 Vesuvius (Thailand) Co., Ltd
 
 Vesuvius Corporation S. A. Taiwan Branch
 
 Vesuvius Foundry Products (Suzhou) Co. Ltd.
 
 Foseco (Thailand) Limited Foseco India Limited
 
 Vesuvius TK Refrakter Sanayi Ve Ticaret AS 
 
 Vesuvius Mid-East Limited
 
 Vesuvius Belgium N.V.
 
 Vesuvius Refratarios Ltda
 
 PT. Foseco Indonesia
 
 Foseco Pty Limited
 
 Vesuvius Research, Pittsburgh
 
 Foseco Ind us trial e Commercial Ltda
 
 Foseco Dokum Sanayi ve Ticaret Limited
 
 Foseco International Ltd. (Middle East Office)
 
 Vesuvius Iberica Refractarios S.A.
 
 Vesuvius Slavia, a.s.
 
 Vesuvius Canada Inc
 
 Foseco International Limited
 
 iii) Names of Principal Group Companies / fellow subsidiaries
 
 (with which the Company neither have any transactions nor outstanding
 balances)
 
 Cookson Overseas Limited
 
 Cookson India Private Limited
 
 iv) Key Management Personnel
 
 Mr Tanmay Kumar Ganguly - Managing Director
 
 (ix) Basis used to determine the Expected Rate of return on Plan
 Assets:
 
 The expected rate of return on plan assets is based on the current
 portfolio of assets, investment strategy and market scenario. In order
 to protect capital and optimise returns within acceptable risk
 parameters, the plan assets are well diversified.
 
 3.  Provision for taxation has been recognised with reference to
 profit for the year ended December 31, 2011 in accordance with the
 provision of the Income Tax Act, 1961 and rules framed there under. The
 ultimate tax liability for the Assessment Year2012-2013 will be
 determined on the basis of total taxable income for the year ending on
 March 31, 2012.
 
 4.  The management is of the opinion that its international
 transactions are at arm''s length under the provisions of Section 92-92F
 of the Income Tax Act, 1961.
 
 5.  The Company had a post retirement medical benefit scheme (PRMS)
 for certain categories of employees with an insurance company.
 Insurance Regulatory Development Authority had directed the Company
 that no new members would be added to this scheme for whom payment of
 insurance premium has not been due. As a result, the Company had, in
 the previous year written back amount provided there against in earlier
 years aggregating to Rs. 10,917.
 
 6.  Previous year''s figures have been regrouped and/or rearranged
 wherever considered necessary to confirm to current year''s
 presentation.