Notes to Accounts of EPIC Energy Ltd.

Mar 31, 2014

1.1 The previous year''s figure has been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as integral part of the current year financial statements and are to be read in relation to the amount and other disclosure relating to the current year.

1.2 Micro and Small Scale Business Entities

There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding as at 31st March, 2014. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1.3. Segment Reporting

The company has identified two reportable segments viz. Power conditioners & savers and Renewable Energy & energy saving appliances. Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting systems.

The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

1.4 There is no small-scale undertakings to whom the company owes a sum exceeding Rs. 0.1 million which is outstanding for more than 30 days.

1.5 All advances, receivables and payables are subject to confirmation and reconciliation, if any.

1.6 Contingent liability - NIL

1.7 Sales & Purchase quantitative details

The revenues of the company, except for the solar products, is not capable of quantification since it is based either on energy actually saved by the customer of the company or on a complete Turnkey basis. The quantitative details of Solar Products is as follows.

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Mar 31, 2013

1.1 The previous year''s figure has been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as integral part of the current year financial statements and are to be read in relation to the amount and other disclosure relating to the current year.

1.2 Micro and Small Scale Business Entities

There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding as at 31st March, 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1.3 As per the Accounting Standard 18, the disclosure of transactions with the related parties as defined in the accounting standards are given below:

1.4. Segment Reporting

The company has identified two reportable segments viz. Power conditioners & savers and Renewable Energy & energy saving appliances. Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting systems.

The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

1.5 There is no small-scale undertakings to whom the company owes a sum exceeding Rs. 0.1 million which is outstanding for more than 30 days.

1.6 All advances, receivables and payables are subject to confirmation and reconciliation, if any.

1.7 Contingent liability - NIL.

1.8 Sales & Purchase quantitative details

The revenues of the company, except for the solar products, is not capable of quantification since it is based either on energy actually saved by the customer of the company or on a complete turnkey basis.

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Mar 31, 2012

1.1 The previous year's figure has been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as integral part of the current year financial statements and are to be read in relation to the amount and other disclosure relating to the current year.

1.2 Micro and Small Scale Business Entities

There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding as at 31st March, 2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1.3. Segment Reporting

The company has identified two reportable segments viz. Power conditioners & savers and Renewable Energy & energy saving appliances. Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting systems.

The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

1.4 There is no small - scale undertakings to whom the company owes a sum exceed in Rs. 0.1 million which is outstanding for more than 30 days.

1.5 All advances, receivables and payables are subject to confirmation and reconciliation, if any.

1.6 Contingent liability-NIL.

1.7 Sales & Purchase quantitative details

The revenues of the company, except for the solar products, is not capable of quantification since it is based either on energy actually saved by the customer of the company or on a complete turnkey basis.

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Mar 31, 2010

1.1 The previous years figure has been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as integral part of the current year financial statements and are to be read in relation to the amount and other disclosure relating to the current year.

1.2 Micro and Small Scale Business Entities

There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding as at 31st March, 2010. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1.3 As per the Accounting Standard 18, the disclosure of transactions with the related parties as defined in the accounting standards are given below:

(i) List of the related parties where control exists and related parties with whom

1.4. Segment Reporting

The company has identified two reportable segments viz. Power conditioners & savers and Renewable Energy & energy saving appliances. Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting systems.

The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

(b) Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

1.5 There is no small-scale undertakings to whom the company owes a sum exceeding Rs. 0.1 million which is outstanding for more than 30 days.

1.6 All advances, receivables and payables are subject to confirmation and reconciliation, if any.

1.7 Secured loans from banks consists of working capital of Rs. 2,74,14,942/- secured against hypothecation of inventories, book debts, mortgage of factory building of subsidiary company and personal guarantee of directors.

1.8 Contingent liability

Claims against company not acknowledged as debts Rs. 29.93 lakhs (previou year Rs. 29.93 lakhs) Contracts remaining to be executed on capital account, net of advance Rs. NIL (previous year Rs. 34 lakhs)

1.9 Sales & Purchase quantitative details

The revenues of the company, except for the solar products, is not capable of quantification since it is based either on energy actually saved by the customer of the company or on a complete turnkey basis.