a) Terms/Rights attached to equity shares:
 
 The Company has only one class of equity share having a par value of
 Rs. 2 per share. Each holder of equity share is entitled to one vote
 per share. The Company declares and pays dividends in Indian Rupees.
 The dividend except interim dividend proposed by the Board of Directors
 is subject to the approval of the shareholders in the ensuing Annual
 General Meeting.
 
 In the event of liquidation of the Company, the holders of equity
 shares will be entitled to receive remaining assets of the Company,
 after distribution of all preferential amounts. The distribution will
 be in proportion to the number of equity shares held by the
 shareholders.
 
 Note 1(a):
 
 (a) Nature of Security for Secured Loan from:
 
 Banks:
 
 (i) Term Loan from Axis Bank are secured by first pari passu charge on
 all the fixed assets (present and future) of Lote Works, and second
 pari passu charge on all the fixed assets (present and future) at Mahad
 Works; Second pari passu charge on entire current assets of the Company
 (present and future) and also by personal irrevocable guarantee of
 Managing Director, Mr. Vinod Saraf.
 
 (ii) Term Loan from Barclays Bank is secured by first pari passu charge
 on all the fixed assets (present and future) of Lote Works. Second pari
 passu charge on entire Current Assets of the Company (present and
 future) and also by personal irrevocable guarantee of Managing
 Director, Mr. Vinod Saraf.
 
 IFC:
 
 Term Loan from International Finance Corporation (IFC) is secured by
 first pari passu charge on all fixed assets of the Company -immovable
 and movable (present and future) and second pari passu charge on all
 the current assets and unconditional and irrevocable personal guarantee
 of Managing Director, Mr. Vinod Saraf.
 
 (b) Rate of Interest:
 
 (i) Axis Bank
 
 Foreign Currency loan carries interest ranging from six months libor 
 400 to 800 bps.
 
 (ii) Barclays Bank:
 
 Foreign Currency loan carries interest ranging from six months libor 
 550 to 600 bps.
 
 (iii) IFC:
 
 ECB: Foreign Currency loan carries interest six months libor   240 bps.
 
 (iv) FCCB: Fixed Coupon Rate of @ 0.55%.per annum and accumulated
 arrears of interest @ 3.5% compounded half-yearly, if the bonds are
 redeemed on the redemption date and option of conversion into equity
 shares is not exercised.
 
 (c) Terms of Repayment:
 
 (i) Axis Bank
 
 Loan of Rs.5.36 Crores - Repayble in 13 quarterly equal installments
 starting from 31st March, 2010 and ending on 31st March, 2013.
 
 Loan of Rs.28.30 Crores repayable in 18 quarterly equal installments
 starting from 31st March, 2011 and ending on 30th June, 2015.
 
 (ii) Barclays Bank:
 
 Loan of Rs. 23 crores repayable in 16 quarterly equal installments
 starting from 1st Ferbuary 2009 and ending on 1st November, 2013.
 
 (iii) ECB:
 
 Loan of USD 11 Million - Repayable in 10 half yearly equal installments
 starting from 15th December, 2012 and ending on 15th June, 2017.
 
 (iv) FCCB:
 
 Loan of USD 5 Million - Convertible at the option of the lender into
 equity shares of Rs.100 each during any time starting from the date of
 subscription i.e. 28th July, 2011 and ending 5 years. If the option is
 not exercised , then it is to be redeemed on the final redemption date
 alongwith accumulated arrears of interest on pro-rata basis @ 3.5% per
 annum compounded semi annually.
 
 Note 2(a):
 
 (a) Nature of Security for Secured Loan from:
 
 Banks:
 
 Hypothecation of inventories, all the present and future book debts and
 other receivables, first charge on all present and future fixed assets
 situated at Mahad Works and residential building at Mahad and second
 charge on all fixed assets situated at Lote Works and personal
 guarantee of Managing Director, Mr. Vinod Saraf.
 
 (b) Rate of interest:
 
 (i) Working Capital Advances From Banks
 
 Foreign Currency loan carries interest ranging from six months libor  
 200 bps to 400 bps. Rupee Loan carries interest ranging from 13.25% to
 14%.
 
 (ii) Unsecured Loan
 
 Foreign Currency loan carries interest ranging from three to six months
 libor   400 bps to 450 bps.
 
 1 NOTES DETAILS OF UNHEDGED FOREIGN CURRENCY AMOUNT
 
 Unhedged foreign currency
 
 Disclosure in accordance with announcement dated 2nd December, 2005
 issued by the Council of the Institute of Chartered Accountants of
 India(ICAI) with respect to details of foreign currency balance not
 hedged:
 
 2 NOTES SEGMENT INFORMATION- (AS-17)
 
 The Company is engaged in manufacturing of Chemicals, which as per
 AS-17 is considered as the only reportable business segment.
 
 3 NOTES LEASES (AS-19)
 
 Operating Lease: Company as Lessee
 
 The Company has entered into operating lease on certain office premises
 and staff residences on leave and licence basis which normally have an
 life of 12 months and renewable every year at the option of the lessor
 and/or the lessee. There is no contingent rent.  The lease rental
 charged to statement of Profit & Loss during the year is Rs. 17.27
 lacs. (Previous year Rs. 15.54 lacs)
 
 4 NOTES IMPAIRMENT OF ASSETS- (AS-28)
 
 Based on exercise of impairment of assets undertaken by the management
 in due cognizance of paragraphs 5 to 13 of AS-28 issued by ICAI, the
 Company has concluded that no impairment loss is required to be booked.
 
 5 NOTES contingent liabilities
 
 Contingent Liabilities not provided for in respect of:
 
 (a) Counter Guarantees given by the Company in respect of guarantees
 issued / Letter of Credit established by banks on behalf of the Company
 Rs.1,813.00 Lacs (Previous Year Rs.1,743.64 Lacs).
 
 (b) Disputed Excise duty demands of Rs. 42.12 Lacs (Previous Year
 Rs.67.94 Lacs) for which Company has gone in appeal. The Company has
 been legally advised that the demand is likely to be either deleted or
 substantially reduced and accordingly no provision has been made.
 
 (c) Disputed Income tax demands of Rs.37.02 Lacs pertaining to various
 assessment years against which a sum of Rs.59.41 Lacs has been paid
 (Previous Year Rs.160.10 Lacs and paid Rs.67.34 Lacs) Based on judicial
 decisions and interpretations of other relevant provisions of the
 statute, the Company is hopeful of the demand likely to be either
 deleted or substantially reduced and accordingly no provision has been
 made.
 
 (d) During the year Company has issued Foreign Currency Convertible
 Bond(FCCB) of Rs.2202 Lacs (USD5 Million) which are convertible in
 equity share of Rs.100 each during any period starting from the Date of
 subscription i.e. 28th July, 2011 and ending 5 years. If the option is
 not exercised, then interest is payable @ 3.5% compounded semi annually
 as accumulated arrears on the final redemption date.Contingent
 liability toward arrears of interest as on 31/03/2012 is Rs. 53.41
 lacs.
 
 6 NOTES CAPITALIZATION OF EXPENDITURE
 
 During the year, the Company has capitalized the following expenses of
 revenue nature to the cost of fixed asset/capital work-in- progress
 (CWIP), Consequently, expenses disclosed under the respective notes are
 net of amounts capitalized by the company.
 
 7 NOTES
 
 In the opinion of the Board of Directors, the Current Assets, Loans and
 Advances have value on realisation in the ordinary course of business,
 at least equal to the amount at which they are stated in the foregoing
 Balance Sheet and adequate provision for all known liabilities on the
 Company has been made.
 
 8 NOTES
 
 From the current financial year the company has changed its policy of
 capitalising exchange gain/loss on foreign currency loan before the
 same has been put to use. Such gain/losses which were hitherto
 capitalised to the cost of the fixed assets has been charged to
 Statement of Profit and Loss in accordance with the requirement of
 Accounting Standard 11 - '' Effects of changes in foreign exchange
 rates. Accordingly Rs. 206.21 lacs has been charged to Statement of
 Profit & Loss which otherwise would have been capitalised to cost of
 fixed assets had the earlier policy were followed. In view of the above
 the Profit for the period is lower by Rs. 169.97 lacs including effect
 of deferred tax of Rs. 36.24 lacs.
 
 9 NOTES PREVIOUS YEAR FIGURES
 
 Till the year ended 31st March, 2011, the company was using pre-revised
 Schedule VI to the Companies Act, 1956, for preparation and
 presentation of its financial statements. During the year ended 31st
 March, 2012 the revised Schedule VI notified under the Companies Act,
 1956, has become applicable to the company. The company has
 reclassified previous year figures to conform to this year''s
 classification. Except accounting for dividend on investments in
 subsidiaries, the adoption of revised Schedule VI does not impact
 recognition and measurement principles followed for preparation of
 financial statements. However, it significantly impacts presentation
 and disclosures made in the financial statements, particularly
 presentation of balance sheet.