Differed Ta x Liability on account of timing difference in Depreciation : Rs. 271.85 Laks Deferred Tax Asset on account of Section 43B of IT Act : Rs. NIL

2. Balance with Central Excise Department includes unveiled Modvat credit of Rs.102.32 lakhs of which there is no dispute . by the Central Excise Department

3. Provision for Income Tax is not made, in view of set off available from the Ferro Division of Sri VASAVI Industries Ltd, with whom ongoing amalgamation proceedings are pending before the Hon'ble High Court of A.P.

4. In the opinion of the management, the Current Assets, Loans and Advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the accounts.

5. Disclosure of Sundry Creditors under Current Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the " Micro, Small and Medium Enterprises Development Act'2006". Amount overdue on account of principal amount together with interest as on 31st March'2015 to Micro, Small and Medium Enterprises is Rs. Nil ( previous year Rs.Nil.)

6. Previous Year figures have been Re grouped and/or Reclassified where ever necessary to make them comparable with those of Current Year.