(a) Basis of Accounting
 
 The financial statements have been prepared and presented under the
 historical cost convention on an accrual basis of accounting and in
 accordance with the provisions of the Companies Act, 1956 and
 accounting principles generally accepted in India and comply with the
 accounting standards prescribed in the Companies (Accounting Standards)
 Rules, 2006 issued by the Central Government, in consultation with the
 National Advisory Committee on Accounting Standards, to the extent
 applicable.
 
 This is the first year of application of the revised Schedule VI to the
 Companies Act, 1956 for the preparation of the financial statements of
 the company. The revised Schedule VI introduces some significant
 conceptual changes as well as new disclosures. These include
 classification of all assets and liabilities into current and
 non-current. The previous year figures have also undergone a major
 reclassification to comply with the requirements of the revised
 Schedule VI.
 
 (b) Use of estimates
 
 The preparation of financial statements in conformity with Indian GAAP
 requires management to make estimates and assumptions that affect the
 reported amounts of assets and liabilities and the disclosures of
 contingent liabilities on the date of financial statements. Actual
 results could differ from those estimates.  Any revision to accounting
 estimates is recognized prospectively in current and future periods.
 
 Current-non-current classification
 
 All assets and liabilities are classified into current and non-current.
 
 Assets
 
 An asset is classified as current when it satisfies any of the
 following criteria:
 
 (a) it is expected to be realised in, or is intended for sale or
 consumption in, the company''s normal operating cycle;
 
 (b) it is held primarily for the purpose of being traded;
 
 (c) it is expected to be realised within 12 months after the reporting
 date; or
 
 (d) it is cash or cash equivalent unless it is restricted from being
 exchanged or used to settle a liability for at least 12 months after
 the reporting date.
 
 Current assets include the current portion of non-current financial
 assets.
 
 All other assets are classified as non-current.
 
 Liabilities
 
 A liability is classified as current when it satisfies any of the
 following criteria:
 
 (a) it is expected to be settled in the company''s normal operating
 cycle;
 
 (b) it is held primarily for the purpose of being traded;
 
 (c) it is due to be settled within 12 months after the reporting date;
 or
 
 (d) the company does not have an unconditional right to defer
 settlement of the liability for at least 12 months after the reporting
 date. Terms of a liability that could, at the option of the
 counterparty, result in its settlement by the issue of equity
 instruments do not affect its classification.
 
 Current liabilities include current portion of non-current financial
 liabilities.
 
 All other liabilities are classified as non-current.
 
 Operating cycle
 
 Operating cycle is the time between the acquisition of assets for
 processing and their realisation in cash or cash equivalents.
 
 (c) Fixed Assets
 
 Tangible Assets
 
 Fixed assets are stated at cost of acquisition, including any
 attributable cost for bringing the asset to its working condition for
 its intended use, less accumulated depreciation and impairment loss.
 
 Depreciation is provided on Straight Line Method, pro-rata to the
 period of use, at the rates specified in Schedule XIV of the Act or the
 rates based on useful lives of the assets as estimated by the
 management, whichever are higher. The annual depreciation rates are as
 under:
 
 Leasehold Land and Leasehold Improvements are amortised over the period
 of the lease. Fixed assets costing Rs 5,000 or less are fully
 depreciated in the period/year of acquisition. Fixed assets costing
 more than Rs 5,000 but up to USD 5,000 are fully depreciated in the
 period/year of acquisition except for:
 
 *multiple-like items the cost of which is over USD 10,000 in
 aggregate; and
 
 *unlike items of capital nature within an asset category for large
 scale projects the aggregate cost of which exceeds USD 10,000 are
 considered as one asset and depreciated in accordance with the
 accounting policy and depreciation rate specified above.
 
 Intangible Assets
 
 Computer Software are recorded at its acquisition cost and is amortised
 on straight-line basis over 3 to 5 years, which in management''s
 estimate represents the period during which economic benefits will be
 derived from their use. Cost of computer software not exceeding Rs 50
 lakhs is fully amortised in the period / year of acquisition.
 
 (d) Impairment of Assets
 
 In accordance with Accounting Standard 28 (AS 28) on Impairment of
 Assets where there is an indication of impairment of the Company''s
 assets, the carrying amounts of the Company''s assets are reviewed at
 each Balance Sheet date to determine whether there is any impairment.
 The recoverable amount of the assets (or where applicable that of the
 cash generating unit to which the asset belongs) is estimated at the
 higher of its net selling price and its value in use. Value in use is
 the present value of estimated future cash flows expected to arise from
 the continuing use of the assets and from its disposal at the end of
 its useful life. An impairment loss is recognised whenever the carrying
 amount of an asset or a cash-generating unit exceeds its recoverable
 amount. Impairment loss is recognized in the statement of profit and
 loss.
 
 (e) Inventories
 
 Inventories are valued at lower of cost and net realisable value. Cost
 is determined on First-in-First-out basis. Cost of work-in-progress and
 finished goods includes cost of materials, direct labour and
 manufacturing overheads, where applicable. Stores and Spares are valued
 at cost. The net realisable value of work-in- process is determined
 with reference to the selling price of related finished goods. Raw
 materials and other supplies held for use in production of inventories
 are not written down below cost except in cases where material prices
 have declined, and it is estimated that the cost of the finished
 products will exceed their net realisable value. Finished goods
 expiring within 90 days (near-expiry inventory) as at the balance sheet
 date have been fully provided for.
 
 (f) Samples
 
 Physicians'' samples are valued at standard cost, which approximates
 actual cost and are charged to the statement of profit and loss when
 distributed.
 
 (g) Foreign Currency Transactions
 
 Transactions in foreign exchange are accounted for at the standard
 exchange rates as determined by the Company on a monthly basis. The
 exchange differences arising on foreign exchange transactions settled
 during the year are recognized in the of statement of profit and loss
 of the year. Monetary assets and liabilities in foreign exchange, which
 are outstanding as at the year end, are translated at year end at the
 closing exchange rate and the resultant exchange differences are
 recognized in the statement of profit and loss.
 
 (h) Revenue Recognition
 
 Revenue from sale of goods in the course of ordinary activities is
 recognised when property in the goods or all significant risks and
 rewards of their ownership are transferred to the customer and no
 significant uncertainty exists regarding the amount of the
 consideration that will be derived from the sale of the goods and
 regarding its collection. The amout recognised as revenue is exclusive
 of sales tax, value added tax (VAT) and service tax, and is net of
 returns, and discounts. Revenue from services is recognised as and when
 services are rendered and related costs are incurred, in accordance
 with the terms of the specific contracts. Interest income is recognised
 on a time proportion basis taking into account the amount outstanding
 and the interest rate applicable.
 
 (i) Employee Benefits
 
 (i) Long-term Employee Benefits
 
 (a) Defined Contribution Plans
 
 The Company has Defined Contribution Plans for post employment benefits
 in the form of Provident Fund, Superannuation Fund and Employees''
 Pension Scheme which are administered through Government of India
 and/or Life Insurance Corporation of India (LIC). Provident Fund,
 Superannuation Fund (which constitutes an insured benefit) and
 Employees'' Pension Scheme are classified as Defined Contribution Plans
 as the Company has no further obligation beyond making the
 contributions. The Company''s contributions to Defined Contribution
 Plans are charged to the statement of profit and loss as incurred.
 
 (b) Defined Benefit Plans
 
 The Company has Defined Benefit Plans for post employment benefits in
 the form of Gratuity and Leave Encashment. Gratuity schemes of the
 Company are administered through LIC. The employees of the Company are
 entitled to Leave Encashment as per the policy of the Company.
 Liability for Defined Benefit Plans is provided on the basis of
 valuations, as at the balance sheet date, carried out by an independent
 actuary. The actuarial valuation method used by an independent actuary
 for measuring the liability is the Projected Unit Credit method.
 
 The obligation is measured at the present value of the estimated future
 cash flows. The discount rates used for determining the present value
 of the obligation under Defined Benefit Plan, are based on the market
 yields on Government securities as at the balance sheet date.
 
 (c) Other Long-term Employee Benefit
 
 The employees of the Company are entitled to Compensated Absences as
 per the policy of the Company. Liability for Compensated Absences is
 provided on the basis of valuations, as at the balance sheet date,
 carried out by an independent actuary. The actuarial valuation method
 used by an independent actuary for measuring the liability is the
 Projected Unit Credit method. The discount rates used for determining
 the present value of the obligation under Defined Benefit Plan, are
 based on the market yields on Government securities as at the balance
 sheet date.
 
 (ii) Actuarial gains and losses comprise experience adjustments and the
 effects of changes in actuarial assumptions and are recognised
 immediately in the statement of profit and loss as income or expense.
 
 (j) Leases
 
 Lease rentals under an operating lease, are recognized as an expense in
 the statement of profit and loss on a straight line basis over the
 lease term. Lease income from operating leases are recognized in the
 statement of profit and loss on a straight line basis over the lease
 term.
 
 (k) Voluntary Retirement Scheme (VRS)
 
 Liability under the VRS is accrued on the acceptance of the
 applications of the employees under the VRS scheme issued by the
 Company. Compensation paid during the current year and previous year
 under the VRS is charged to the statement of profit and loss.
 
 (l) Expenditure on Research and Development
 
 Revenue expenditure is recognised as an expense in the period/year in
 which it is incurred and the expenditure on capital assets is
 depreciated over the useful lives of the assets.
 
 (m) Taxes on Income
 
 Income tax expense comprises current tax and deferred tax charge or
 credit. Provision for current tax is in accordance with the provisions
 of the Income Tax Act, 1961.
 
 The deferred tax charge or credit is recognized using substantively
 enacted rates. In the case of unabsorbed depreciation or carried
 forward losses, deferred tax assets are recognised only to the extent
 there is virtual certainty of realisation of such assets. Other
 deferred tax assets are recognized only to the extent there is
 reasonable certainty of realization in future. Such assets are reviewed
 as at each Balance Sheet date to reassess realization.
 
 (n) Earnings per Share
 
 Basic and diluted earnings per share are computed by dividing the net
 profit after tax attributable to equity shareholders for the year, with
 the weighted number of equity shares outstanding during the year.
 
 (o) Provisions and Contingent Liabilities
 
 The Company creates a provision when there exists a present obligation
 as a result of a past event that probably requires an outflow of
 resources and a reliable estimate can be made of the amount of the
 obligation. A disclosure for a contingent liability is made when there
 is a possible obligation or a present obligation that may, but probably
 will not, require an outflow of resources. When there is a possible
 obligation or a present obligation in respect of which the likelihood
 of outflow of resources is remote, no provision or disclosure is made.
 Contingent assets are not recognized in financial statements.