As at        As at
                                          31.03.2011   31.03.2010
 
 1 Contingent Liability towards bills 
 discounted with banks                     13,014.98    14,330.33
 
 2 ii) Contingent Liability towards demand for enhanced compensation
 for Land along with interest is not provided for since the quantum has
 not yet been determined. Further the eligible rebate on land cost as
 per conditions of allotment amounting to Rs.32.40 lakhs from the HSIDC
 has not been taken into consideration and the same will be accounted on
 cash basis.
 
 3 The Company has not provided for excise duty on closing stock of
 finished goods at the factory and customs duty on raw materials in
 bonded warehouse amounting to Rs.55.25 lakhs (previous year Rs.55.31
 lakhs) and accordingly not included the same in the value of said
 inventories. However, this has no impact on the net profit for the
 year.
 
 4 The Company opted for accounting the exchange differences arising on
 reporting Foreign Currency Monetary Items in line with the Companies
 (Accounting Standards) Amendment Rules, 2009 on AS11 notification dated
 31st March, 2009 read with Notification dated 11th May, 2011 issued by
 the Ministry of Corporate Affairs.  Consequently,
 
 i. Exchange differences relating to Long Term Foreign Currency Monetary
 Items, in so far related to acquisition of depreciable capital assets
 arising during the year amounting to Rs.15.41 lakhs (loss) {net of
 depreciation Rs. 3.15 lakhs} (Previous year Rs. 441.43 lakhs (gain)
 {net of depreciation Rs.17.88 lakhs}) are (deducted) / added
 respectively to the cost of assets and depreciated over the balance
 life of the assets.
 
 ii. Exchange differences relating to Other Long Term Foreign Currency
 Monetary Items amounting to Rs. 78.54 lakhs (gain) {net of amortization
 Rs (113.86 lakhs)} (Previous year Rs. 36.19 lakhs (gain) {net of
 amortization Rs. (225.75 lakhs)}) are adjusted to Foreign Currency
 Monetary Item Translation Difference Account.
 
 5 Employee Benefits:
 
 The Company has followed the Accounting Standard 15 (AS-15 revised)
 Employee Benefits.
 
 Brief Description of the plans:
 
 The Company has various schemes for long term benefits such as
 Provident Fund, Superannuation, Gratuity and Earned Leave Encashment.
 In case of funded schemes, the funds are recognized by the Income Tax
 Authorities and administered through trustees / Life Insurance
 Corporation of India. The Companys defned contribution plans are
 Provident Fund and Employees Pension Scheme (under the provisions of
 the Employees Provident Fund and Miscellaneous Provisions Act, 1952)
 and Superannuation Fund. The Company has no further obligation beyond
 making the contributions.
 
 In respect of the Employees Provident Fund Scheme, the interest payable
 by the trust to the beneficiaries as per the rate notified by the
 Government is met by the trust with contribution from the Company
 towards short fall in interest Rs. 12.83 lakhs (last year - Nil). The
 liability in respect of leave encashment benefit to staff is determined
 on the basis of actuarial valuation and provided for accordingly.
 
 6 Segment information for the year ended 31st March, 2011 in
 accordance with AS 17 issued by ICAI:
 
 i) Primary segments:
 
 Automotive components is the only reportable segment of the Company.
 
 ii) Revenue by Geographical Segment:
 
 The geographical segments considered for disclosure are as follows:
 
 Sales within India include Sales to customers located within India.
 
 Sales outside India include Sales to customers located outside India.
 
 7 Related Party disclosures in accordance with AS18 issued by ICAI
 Associates:-
 
 T.V.Sundram Iyengar & Sons Ltd.  
 
 Axles India Ltd.  
 
 Titan Europe Plc.
 
 Sundaram Hydraulics Ltd.
 
 Key Managerial Personnel:
 
 Mr S Ram
 
 Mr Srivats Ram
 
 8 Derivative instruments:
 
 a.  Category-wise quantitative data about derivative instruments that
 are outstanding at the Balance Sheet date
 
 The purpose for which such derivative instruments were acquired, was to
 hedge export receivables and interest cash flows.
 
 b.  Foreign Currency exposures that are not hedged by a derivative
 instrument or otherwise Rs. 7,869.18 lakhs (Previous year - Rs.
 5,256.15 lakhs)
 
 9 Previous Years figures have been regrouped wherever necessary to
 conform to this years classification.