1) Disclosures required by AS-29 “Provisions, Contingent Liabilities &
 Contingent Assets”.
 
 a) Contingent Liabilities:                              (Rs. in lakhs)
 
                                                    2010-11     2009-10
 
 In respect of
 
 Income tax                                           41.75       19.75
 
 Value added tax                                      14.16       10.93
 
 Excise duty/Service tax **                         2654.80     2654.80
 
 **Includes Rs.2647.70 lakhs disputed excise duty including penalty for
 purported underutilization of fly-ash in the product to be eligible for
 concessional rate of duty.
 
 Nature of Provision:
 
 Disputed sales tax liability on procurement of fly ash from Thermal
 Power Stations and others in Tamil Nadu state.
 
 2) We have recorded all known liabilities in the financial statements.
 The company has not received any intimation from ‘suppliers'' regarding
 their status under the Micro Small and Medium Enterprises Development
 Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
 at the year end together with interest paid/payable as required under
 the said Act have not been given.
 
 3) a) Aggregate Related Party Disclosures :
 
 i) Key Management personnel:
 
 Mrs. G. Saroja Vivekanand  – Managing Director
 
 Mr. M. P. Venkateswara Rao – Wholetime Director
 
 ii) Relatives of key management personnel:
 
 Dr. G. Vivekanand – Vice Chairman(Spouse of Mrs. Saroja Vivekanand)
 
 Mr. G. Venkata Krishna – (Son of Mrs. Saroja Vivekanand) 
 
 Mr. G. Vamsi Krishna – (Son of Mrs. Saroja Vivekanand) 
 
 Miss. G. Vrithika – (Daughter of Mrs. Saroja Vivekanand 
 
 Miss. G. Vaishnavi – (Daughter of Mrs. Saroja Vivekanand)
 
 iii) Other entities under control:
 
 Visaka Charitable Trust
 
 iv) Enterprise in which key management personnel and their relatives
 have control:
 
 a) Aslesha Constructions Private Limited.
 
 v) Associate
 
 a) Visaka Thermal Power Private Limited
 
 4) During the year the company has created deferred tax liability of
 Rs.73.61 Lakhs (Previous year Rs. 43.19 Lakhs) on account of timing
 difference on depreciation, reversed deferred tax Asset of Rs.4.92
 Lakhs on account of allowances in the income tax previously disallowed
 (previous year created of Rs.24.62 lakhs) and created deferred tax
 asset of Rs 0.80 on account of disallowance of provision for doubtful
 debts (previous year Nil).
 
 5) Capital WIP includes Rs.2482.20 Lakhs incurred for Cement Asbestos
 plant at Sambalpur, Orissa which is under implementation.
 
 6) Segment information for the year ended 31st March, 2011
 
 NOTES:
 
 Business Segments:
 
 The Company''s activities are organized into two operating segments
 namely, Building Products and Textile Synthetic Yarn. The segments are
 the basis on which the company reports its primary segment information.
 The Building Products division produces asbestos sheets, accessories
 used mostly as roofing material and non asbestos flat sheets and
 sandwich panels used as interiors. Synthetic Yarn division manufactures
 Yarn out of blends of polyester, viscose, other materials which go into
 the weaving of fabric. Segment result includes the respective other
 income.
 
 Financial Information about business segments is presented as above.
 
 Geographical Segments:
 
 The Sales of the above segments are classified as per the geographical
 segments of the company as Domestic and Exports.
 
 Segment Revenue and Expenses:
 
 The Company has an established basis of allocating Joint/Corporate
 expenses to the segments, which is reasonable, and followed
 consistently.  All other segment revenue and expenses are attributable
 to the segments. Certain Expenses/Income are not specifically allocable
 to specific segments and accordingly these expenses are disclosed as
 unallocated corporate expenses'' or income and adjusted only against the
 total income of the company.
 
 Segment Assets and Liabilities:
 
 Segment assets include all operating assets used by a segment and
 consist principally of operating cash, debtors, inventories and fixed
 assets, net of allowances and provisions that are reported as direct
 offsets in the balance sheet. While most assets can be directly
 attributed to individual segments, the carrying amount of certain
 assets used jointly by two or more segments is allocated to the
 segments on a reasonable basis. In such cases, the entire revenue and
 expenses of these assets including depreciation are also allocated to
 the same segments. Assets which are not allocable to the segments have
 been disclosed as ‘unallocated corporate assets''. Segment liabilities
 include all operating liabilities and consist principally of creditors
 and accrued liabilities. Segment assets and liabilities do not include
 deferred income taxes. The loans and other borrowings that are not
 specifically allocable to the various segments are disclosed as
 ‘unallocated corporate liabilities''.
 
 Inter Segment Transfers:
 
 The Company adopts a policy of pricing inter-segment transfers at cost
 to the transferor segment. However, during the year there are no such
 transactions.
 
 7) Figures for the previous year are regrouped and rearranged wherever
 necessary.