(i) Basis of preparation
 
 The financial statements have been prepared to comply in all material
 respects with the notified accounting standards by Companies
 (Accounting Standards) Rules, 2006 and the relevant provisions of the
 Companies Act, 1956. The financial statements have been prepared under
 the historical cost convention on an accrual basis except in case of
 assets for which provision for impairment is made and revaluation is
 carried out. The accounting policies have been consistently applied by
 the Company and are consistent with those used in the previous year.
 
 (ii) Use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 (a) Fixed assets, depreciation/amortisation and impairment
 
 Tangible assets:
 
 Fixed assets are stated at cost less accumulated depreciation and
 impairment losses, if any. The Company capitalises all costs relating
 to the acquisition and installation of fixed assets.
 
 The carrying amounts of fixed assets and intangible assets are reviewed
 at each balance sheet date to assess whether they are recorded in
 excess of their recoverable amounts and where carrying values exceed
 the estimated recoverable amount, assets are written down to the
 recoverable amount. The recoverable amount is the greater of the
 asset''s net selling price and value in use. In assessing value in use,
 the estimated future cash flows are discounted to their present value
 at the weighted average cost of capital.
 
 Depreciation/amortization:
 
 Depreciation is provided, using the straight line method, pro-rata to
 the period of use of assets, at the rates specified in Schedule XIV to
 the Companies Act, 1956 or based on the useful lives of the assets
 estimated by the management, whichever is higher. The rates used by the
 Company are as follows:
 
 Fixed assets whose aggregate cost is Rs. 5,000 or less are depreciated
 fully in the year of acquisition.
 
 Intangible assets:
 
 Intangible assets are stated at cost less accumulated amortisation and
 impairment losses, if any.
 
 The cost relating to Intangible assets, which are acquired, are
 capitalized and amortised on a straight line basis upto the period of
 ten years, which is based on their estimated useful life.
 
 (b) Foreign currency translations
 
 Foreign currency transactions are recorded in the reporting currency,
 by applying to the foreign currency amount, the exchange rate between
 the reporting currency and the foreign currency at the date of
 transaction.
 
 Foreign currency monetary items are reported using closing foreign
 exchange rate. Non-monetary items, which are carried in terms of
 historical cost denominated in a foreign currency are reported using
 the exchange rate at the date of transaction.
 
 Exchange differences arising on the settlement of monetary items or on
 reporting company''s monetary items at rates different from those at
 which they were initially recorded during the year, or reported in
 previous financial statements, are recognized as income or as expenses
 in the year in which they arise.
 
 Premium or discount arising at the inception of forward exchange
 contracts is amortized as expense or income over the life of the
 contract. Exchange differences on such contracts are recognized in the
 statement of profit and loss in the year in which the exchange rates
 change. Any profit or loss arising on cancellation or renewal of
 forward exchange contract is recognized as income or as expense for the
 year.
 
 (c) Investments
 
 Investments that are readily realisable and intended to be held for not
 more than a year are classified as current investments. Current
 investments are carried at lower of cost and fair value determined on
 an individual investment basis.  Long-term investments are stated at
 cost. Provision is made to recognise a diminution, other than
 temporary, in the value of investments.
 
 (d) Inventories
 
 All inventories are valued at moving weighted average price other than
 finished goods, which are valued on quarterly moving average price.
 Finished goods and Work in Progress is computed based on respective
 moving weighted average price of procured materials and appropriate
 share of labour and other manufacturing overheads.
 
 Inventories are valued at cost or net realizable value, whichever is
 lower. Cost also includes all charges incurred for bringing the
 inventories to their present location and condition. Excise and customs
 duty accrued on production or import of goods, as applicable, is
 included in the valuation of finished goods.
 
 Inventories of stores and spare parts are valued at cost.
 
 Net realizable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and to make the
 sale.
 
 (e) Employee benefits
 
 Employee benefits in the form of Provident Fund, Family Pension Fund
 and Superannuation Schemes, which are defined contribution schemes, are
 charged to the Statement of Profit and Loss of the period when the
 contributions to the respective funds accrue. There are no other
 obligations other than the contribution payable to the respective
 trusts.
 
 Gratuity liability, which is a defined benefit scheme is provided for
 on the basis of an actuarial valuation made using Projected Unit Credit
 Method at the end of each financial year.
 
 Short term compensated absences are provided for based on estimates.
 Long term compensated absences are provided for based on actuarial
 valuation made using Projected Unit Credit Method at the end of each
 financial year.
 
 Actuarial gains and losses are immediately taken to the Statement of
 Profit and Loss and are not deferred.
 
 (f) Revenue recognition
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 Sale of Goods
 
 Revenue is recognized when the significant risks and rewards of
 ownership of the goods have passed to the buyer, which coincides with
 dispatch of goods to customers. Revenues are recorded at invoice value,
 net of excise duty, sales tax, returns and trade discounts.
 
 Sale of Services
 
 Revenues from services are recognised on completion of rendering of
 services.
 
 Out licensing fees
 
 Out licensing fees is recognized in accordance with the terms of the
 relevant agreement(s) as generally accepted and agreed with the
 customers.
 
 Export Incentive
 
 Benefit on account of entitlement to import duty free materials under
 the Duty Entitlement Pass Book Schemes is recognized in the year
 of export.
 
 Royalties
 
 Revenue is recognized on an accrual basis in accordance with the terms
 of the relevant agreement.
 
 Interest
 
 Revenue is recognized on a time proportion basis taking into account
 the amount outstanding and the rate applicable.
 
 (g) Research and development
 
 Research costs are expensed as incurred. Development expenditure
 incurred on an individual project is carried forward when its future
 recoverability can reasonably be regarded as assured. Any expenditure
 carried forward is amortised over the period of expected future sales
 from the related project, not exceeding ten years.
 
 The carrying value of development costs is reviewed for impairment
 annually when the asset is not yet in use, and otherwise when events or
 changes in circumstances indicate that the carrying value may not be
 recoverable.
 
 (h) Taxation
 
 Tax expense comprises of current and deferred tax.
 
 Current income tax is measured at the amount expected to be paid to the
 tax authorities in accordance with the provisions of Income Tax Act,
 1961 as applicable to the financial year. Deferred income taxes
 reflects the impact of current year timing differences between taxable
 income and accounting income for the year and reversal of timing
 differences of earlier years.
 
 Deferred tax is measured based on the tax rates and the tax laws
 enacted or substantively enacted at the balance sheet date. Deferred
 tax assets are recognised only to the extent it has timing differences
 the reversal of which will result in sufficient income. In situations
 where the Company has unabsorbed depreciation or carry forward tax
 losses, all deferred tax assets are recognised only if there is virtual
 certainty supported by convincing evidence that they can be realised
 against future taxable profits.
 
 Minimum Alternative Tax (MAT) credit is recognized as an asset only
 when and to the extent there is convincing evidence that the Company
 will pay normal income tax during the specified period. MAT credit
 becomes eligible to be recognized as an asset in accordance with the
 recommendations contained in the Guidance Note issued by the Institute
 of Chartered
 
 Accountants of India, the said asset is created by way of credit to the
 profit and loss account and shown as MAT credit entitlement. The
 Company reviews the same at each balance sheet date and writes down the
 carrying amount of MAT credit entitlement to the extent there is no
 longer convincing evidence to the effect that Company will pay normal
 income tax during the specified period.
 
 (i) Leases
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term are classified as
 operating lease. Operating lease payments are recognized as an expense
 in the Statement of Profit and Loss on a straight-line basis over the
 lease term.
 
 (j) Financing/Borrowing cost
 
 Financing/Borrowing costs attributable to acquisition and/or
 construction of qualifying assets are capitalised as a part of the cost
 of such assets, up to the date such assets are ready for their intended
 use. Other financing/borrowing costs are charged to Statement of Profit
 and Loss. Initial direct costs are recognised immediately as an
 expense.
 
 Expenses incurred in connection with raising of funds are amortised
 over the tenure of the borrowing.
 
 (k) Employees Stock Option Cost
 
 The Company measures compensation cost relating to employee stock
 options using the intrinsic value method.  Compensation expense, if
 any, is written off over the vesting period of the option on a straight
 line basis.
 
 (l) Provisions
 
 A provision is recognised when an enterprise has a present obligation
 as a result of past event, it is probable that an outflow of resources
 will be required to settle the obligation, in respect of which a
 reliable estimate can be made. Provisions are not discounted to its
 present value and are determined based on best estimate required to
 settle the obligation at the balance sheet date. These are reviewed at
 each balance sheet date and adjusted to reflect the current best
 estimates.
 
 (m) Earnings per share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the year attributable to equity shareholders (after deducting
 preference dividends and attributable taxes) by the weighted average
 number of equity shares outstanding during the year. The weighted
 average number of equity shares outstanding during the year is adjusted
 for events of bonus issue to existing shareholders and share split.
 
 For the purpose of calculating diluted earnings per share, the net
 profit for the year attributable to equity shareholders and the
 weighted average number of shares outstanding during the year are
 adjusted for the effects of all dilutive potential equity shares from
 the exercise of options on unissued share capital. The number of equity
 shares is the aggregate of the weighted average number of equity shares
 and the weighted average number of equity shares, which would be issued
 on the conversion of all the dilutive potential equity shares into
 equity shares. Options on unissued equity share capital are deemed to
 have been converted into equity shares.
 
 (n) Derivative Financial Instruments
 
 The Company uses derivative financial instruments such as option
 contracts and interest rate swaps to hedge its risk associated with
 foreign currency fluctuations and interest rates.
 
 As per the Institute of Chartered Accountants of India (ICAI)
 Announcement, accounting for derivative contracts, other than those
 covered under AS-11, are marked to market on a portfolio basis, and the
 net loss is charged to the income statement.  Net gains are ignored.