1. Contingent liabilities not provided for in respect of :

2. Bank guarantees outstanding as at 31st March,2016 for which the Company has given counter guarantees amounting to Rs. 30,299,651/- (Previous year Rs. 5,974,654/-).

3. Income Tax demand of Rs.632,440/- (Previous year Rs. 632,440/-) raised by the Income Tax department at the time of Assessment. The said demand is disputed by the Company. The Company has paid Rs. 632,440/-(Previous year Rs. 316,440/-) against the said demand.

4. Central Excise demand of Rs. 8,260,498/- (Previous year Rs. 399,937/-) raised by the Central Excise department. The said demand is disputed by the company. The company has paid Rs. 642,040/- (Previous year Rs. 22,496/-) against the said demand.

5. In the opinion of the Board of Directors, current assets and loans and advances have a value on realization in ordinary course of business at least equal to the amount at which they are stated.

6. Confirmations of debit/credit balances have not been received and hence these balances are subject to adjustment if any.

7. Amortization of Intangible Assets :

In accordance with the accounting standard 26 "Intangible assets" issued by the Institute of Chartered Accountants of India, intangible assets are amortized as follows:

8. Considering the legal rights are renewable, renewal is virtually certain and economic benefits to be derived, the useful life of 50 years of Trademark is estimated by the Management and hence the Cost of Trademark is amortized over 50 years. For the year Rs. 8,17,220/- (Previous year Rs. 8,17,220/-) is charged to profit & loss account.

9. Derivatives and Foreign Currency exposures :

The Company uses forward contract to mitigate its risks associated with foreign currency fluctuations having underlying transaction in relation to Sale of goods. The company does not enter into any forward contract which is intended for trading or speculative purposes.

10. IMPAIRMENT OF ASSETS :

The Company has adopted the provisions of Accounting Standard - 28 on "Impairment of Assets" as recommended by the Institute of Chartered Accountants of India. On the assessment made by the Management and the Valuation Report of the approved Valuer, there is no impairment of assets and therefore no provisions for impairment of loss is required

11. Lease commitments :

Obligation towards operating leases (As lessee)

The Company has entered into operating lease arrangements for vehicles and office premises. Rent expenses of Rs. 11,42,571 /-( Previous Year Rs. 4,58,274/-) in respect of obligation under non cancellable operating leases have been recognized in the Statement of Profit and Loss.

12. Previous year figures

The company has regrouped / rearranged previous year figures in view of easy comparison with current year figures.

13. Figures rounded off to nearest rupee. All the figures including previous year figures have been rounded off to nearest rupee.