a.  Corporate Information:
 
 VXL Instruments Limited is a Public Limited Company listed in Mumbai
 Stock exchange. The Company is engaged in the business of manufacture
 and sale of data processing units
 
 b.  Basis of preparation:
 
 The financial statements of the Company have been prepared in
 accordance with the Generally Accepted Accounting Principles in India
 (Indian GAAP). The Company has prepared these financial statements to
 comply in all material aspects with the Accounting Standards notified
 under the Companies (Accounting Standard ) Rules, 2006 (as amended) and
 the relevant provisions of the Companies Act, 1956. The financial
 statements have been prepared on accrual basis and under the historical
 cost convention except for land which are carried at revalued amounts.
 The accounting policies adopted in the preparation of financial
 statements are consistent with those of the previous year.
 
 c.  Uses of Estimates:
 
 The preparation of financial statements in conformity with GAAP
 requires that the management of the Company makes estimates and
 assumptions that affect the reported amounts of income and expenses for
 the period, the reported balances of assets and liabilities and the
 disclosures relating to contingent liabilities as on the date of the
 Balance Sheet. Differences, if any, between the actual results and
 estimates is recognized in the period in which the results are known.
 
 d.  Fixed assets:
 
 Fixed assets are disclosed in the accounts at historical cost together
 with all costs directly attributable to their acquisition less
 accumulated depreciation. Land has been stated at revalued cost.
 
 e.  Depreciation:
 
 Depreciation is computed on the written-down value of assets and
 provided at the rates mentioned in Schedule XIV of the Companies Act,
 1956. In the case of additions/deletions, pro-rata depreciation is
 provided from the date of additions / up till the date of disposal. In
 respect of assets with cost not exceeding Rs.5,000/- depreciation at
 the rate of 100% is provided for the whole year.
 
 f.  Leases:
 
 Lease arrangements where the risks and rewards incident to ownership of
 an asset substantially vest with the lessor are recognised as operating
 leases. Lease rentals under operating leases are recognised in the
 profit and loss account on a straight-line basis.
 
 g.  Impairment of Assets:
 
 The carrying amounts of assets are reviewed at each balance sheet date
 if there is any indication of impairment of the carrying amount of
 Company''s assets. If any indication exists, the recoverable amount of
 such assets is estimated. An impairment loss is recognized whenever the
 carrying amount of the assets exceeds its recoverable amount. The
 recoverable amount is greater of the net selling price and value in
 use. In assessing the value in use, the estimated future cash flows are
 discounted to their present value, based on appropriate discounting
 factor. After impairment, depreciation is provided on the revised
 carrying amount of the assets over its remaining useful life. A
 previously recognized impairment loss is increased or reversed
 depending on changes in circumstances. However, the carrying value
 after reversal is not increased beyond the carrying value that would
 have prevailed by charging usual depreciation as if there was no
 impairment.
 
 h.  Investments:
 
 Non current investments are valued at cost less provision, if any, for
 permanent diminution in value.  Current investments are valued at lower
 of cost and net realisable value.
 
 i.  Inventories:
 
 Inventories are valued at lower of cost (weighted average) and
 estimated net realisable value. Provision has been made in the accounts
 for damaged, obsolete and slow moving items.
 
 j. Employee Benefits:
 
 1.  Post employment benefit plans:
 
 Contributions to defined contribution retirement benefit schemes are
 recognized as an expense when employees have rendered services
 entitling them to contributions. For defined benefit schemes, 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 amortized 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. Any asset resulting from this calculation is
 limited to the present value of available refunds and reductions in
 future contributions to the scheme.
 
 2.  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. These benefits
 include compensated absences such as paid annual leave.
 
 k. Foreign currency transactions:
 
 In respect of foreign currency transactions during the year, the same
 have been accounted at the exchange rate prevailing as on the date of
 transaction. In respect of current assets and current liabilities at
 the close of the accounting year, gains/losses arising out of
 translations at year end exchange rates are dealt with in the Profit &
 Loss Account.
 
 l.  Intangible assets:
 
 Revenue expenditure on product development is treated as an Intangible
 asset, grouped under fixed assets and amortized over the estimated
 period of life. An intangible asset is derecognised (eliminated from
 the balance sheet) on disposal or when no future economic benefits are
 expected from its use and subsequent disposal.
 
 m. Income Tax:
 
 Provision for Current Income Tax is made in the books of account based
 on taxable income computed as per the provisions of the Income Tax Act,
 1961.
 
 Deferred tax is recognised in respect of timing differences on account
 of differences between accounting income and taxable income arising in
 one period and capable of adjustment in subsequent period(s). In
 respect of deferred tax asset, the same is recognised in the books of
 account if there is certainty of availability of future taxable income
 against which the same can be set off. This asset will be reviewed at
 each balance sheet date to verify adjustment thereof.
 
 n. Warranties:
 
 Warranties are recognised as and when claims are lodged by customers,
 to the extent agreed to by the Company.
 
 o.  Borrowing Costs:
 
 Borrowing costs that are attributable to the acquisition or
 construction of qualifying assets are capitalised as part of the cost
 of such asset. A qualifying asset is one that takes substantial period
 of time to get ready for intended use or sale. All other Borrowing
 Costs are charged to revenue.
 
 p. Earning Per Share:
 
 The earnings considered in ascertaining the Company''s earnings per
 share comprise of the net profit after tax. The number of shares used
 in computing the basic earnings per share is the weighted average
 number of equity shares outstanding during the year. The number of
 shares used in computing diluted earnings per share comprises the
 weighted average shares considered for deriving basic earnings per
 share, and also the weighted average number of shares, if any, which
 would have been issued on the conversion of dilutive potential equity
 shares.
 
 q. Provisions, Contingent Liabilities and Contingent Assets:
 
 Provisions involving substantial degree of estimation in measurements
 are recognised when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognised but are disclosed in the
 Notes to the Accounts. Contingent Assets are neither recognised nor
 disclosed in the financial statements.
 
 r. Segment Reporting:
 
 Revenue, operating results, assets and liabilities has been identified
 to represent separate segments on the basis of their relationship to
 the operating activities of the segment. Assets, liabilities, revenue
 and expenses which are not allocable to separate segment on a
 reasonable basis, are included under Un-allocated.