(Rs. in 000s)
 
                                              31.03.2011 31.03.2010
 
 
 A
 1 Contingent Liability not provided for:
 
 a) Disputed income tax demands under appeal       5,932      5,932 
 The company has received favourable orders
 from the Commissioner of Income Tax
 (Appeals) (CIT-A) in respect of two 
 assessment years, however the department is 
 in appeal with  the Income Tax Appellate 
 Tribunal. In respect of  one assessment
  year, the Company has received  a 
 favourable order from CIT-A but the order 
 giving effect to the CIT -A order is yet
 to be received by the Company.
 
 The said amounts has been arrived at based 
 on the assessment order received from the
 relevant authority. Outflows, if any, 
 arising out of this claim would depend on the 
 outcome of the decision and the Companys 
 rights for further appeal before the 
 Judiciary.
 
 b) Guarantees given by Companys Bankers         18,551      6,313
 
 c) Bills Discounted                               9,065      1,990
 
 2 The Company is having a working capital limit with State Bank of
 India, secured by hypothecation of stock and book debts and collateral
 charge on all fixed assets other than land and building.
 
 3 During the year the Company, based on the Boards approval has
 converted loan given to Wendt Middle East FZE a subsidiary, into equity
 amounting to Rs.3,685 (000s). The Company has completed the necessary
 regulatory formalities in this regard.  Accordingly the investment in
 the said subsidiary stands increased to Rs.15,316 (000s) from
 Rs.11,631 (000s)
 
 4 There are no dues to Micro and Small Enterprises as per Micro, Small
 and Medium Enterprises Development Act 2006 which are outstanding for
 more than 45 days at the Balance Sheet date. The above information has
 been determined to the extent such parties have been identified on the
 basis of information available with the company. This has been relied
 upon by the auditors
 
 5 The unclaimed dividend of Rs. 2,120 (000s) represents those
 relating to the years 2004 to 2010 and no part thereof has remained
 unpaid or unclaimed for a period of seven years from the date they
 became due for payment requiring transfer to the Investor Education and
 Protection Fund.
 
 6 Deferred Tax
 
 6.1 Notes
 
 Tax provision has been made in accordance with the requirements under
 the Accounting Standard 22 Accounting for Taxes on Income as detailed
 below.
 
 7 In accordance with Accounting Standard 18 Related Party
 Disclosures, the Company has compiled the required information as
 detailed below.  
 
 1) List of Related parties 
 
 I) Party with whom control exists -Subsidiaries 
 
 a Wendt Grinding Technologies Ltd 
 
 b Wendt Middle East FZE
 
 ii) Venturers to the joint venture with whom transactions have taken
 place during the year
 
 a Carborundum Universal Limited (CUMI) 
 
 b Wendt GmbH Germany
 
 Transaction with related parties
 
 a) The related party relationships are as identified by the Company, on
 the basis of information available with the Company and relied upon
 bytheauditors.
 
 b) No amounts in respect of related parties have been written off/ back
 other than any amount included above during the year.
 
 8.  Employee Benefits
 
 I Defined Contribution Plans
 
 a.  Provident Fund
 
 b.  Superannuation Fund
 
 c.  Employers Contribution to Employees State Insurance
 
 d.  Employers Contribution to Employees Pension Scheme 1995.
 
 II Defined Benefit Plan
 
 a) Contribution to Gratuity Fund :
 
 The estimate of future salary increases, considered in actuarial
 valuation, take account of inflation, seniority, promotion and other
 relevant factors, such as supply and demand in the employment market.
 
 9 Segment Disclosure
 
 A) PRIMARY SEGMENT INFORMATION 
 
 Notes on Segment Information
 
 1) The company is organised into two main business segments, namely: 
 
 a)Super Abrasives & b) Machines, Accessories and Components.
 
 The above segments have been identified taking into account the
 organisation structure as well as the differing risks and returns of
 these segments.
 
 2) Segment Assets, Segment Liabilities & fixed assets used in Companys
 business have not been identified to any reportable segment, as these
 are used interchangeably between segments and hence segment disclosure
 related to total carrying amount of segment assets, liabilities and
 fixed assets have not been given.
 
 10 Previous years figures have been reclassified / regrouped wherever
 necessary to facilitate comparison with those for the current year