1. Proposed dividend

Under Indian GAAP, proposed Dividend including Dividend distribution tax. are recognised as liability in the period to which they relate, irrespective of when they are declared Under IND AS proposed Dividend is recognised as liability in the period in which it is declared by the company, usually when approved by the shareholders in a general neeting As a result of this change, the liability of Rs 60 36 Lakhs as at April 1 2016 and Rs 60.36 Lakhs as at March 31, 2017 recorded for dividend has been derecognised against retained earnings

2. Excise duty

Under the previous GAAP revenue from sale of products was presented exclusive of excise duty Under Ind AS, revenue from sale of goods is presented inclusive of excise duty The excise duty paid is presented on the face of the statement of profit and loss as part of expenses This change has resulted in an increase in total revenue and total expenses for the year ended March 31 2017 by Rs 115 60 lakhs There is no impact on the total equity and profit

3. Retained earnings

Retained earnings as at April 1. 2016 has been adjusted consequent to the above Ind AS transition adjustments

4. Current tax and deferred tax

Current tax I deferred tax have been recognised on the adjustments made on transition to Ind AS

5. Government grants

Under the previous GAAP, the company has recorded the Government grant related fixed asset in to capital reserves Whereas under lnd AS the company has recognised the grant as deferred income which is amortised on systematic bases over the useful life of the asset to statement of profit and loss This change has resulted in an decrease in retained earnings and increase in deferred income by Rs 27 46 Lakhs as at April 1 2016 and Rs 22 51 Lakhs as at March 31, 2017

6. Other comprehensive income

Under Ind AS, all items of income and expense recognised in a pie nod should be included in statement of profit and loss for the year unless a standard requires or permits otherwise Items of income and expense that are not recognised in statement of profit and loss but are shown in the statement of profit and loss as other comprehensive income includes re-measurements of defined benefit plans The concept of other comprehensive income did not exist under previous GAAP The notes are an integral part of these financial statements

7. Figures for the corresponding previous years have been regrouped/ rearranged wherever necessary, to conform to the classification of the current year.