Notes to Accounts of Gujarat Narmada Flyash Company Ltd.

Mar 31, 2015

1. Contingent liabilities and commitments (to the extent not provided for) - (i) Contingent liabilities shall be classified as:

(a) Claims against the company not acknowledged as debt;

(b) Guarantees;

(c) Other money for which the company is contingently liable.

(ii) Commitments shall be classified as:

(a) Estimated amount of contracts remaining to be executed on capital - account and not provided for;

(b) Uncalled liability on shares and other investments partly paid;

(c) Other commitments (specify nature). - -

2. The amount of dividends proposed to be distributed to equity and preference shareholders for the period and the related amount per share shall be disclosed separately. Arrears of fixed cumulative dividends on preference shares shall also be disclosed separately.

3. Where in respect of an issue of securities made for a specific purpose, the whole or part of the amount has not been used for the specific purpose at the balance sheet date, there shall be indicated by way of note how such unutilised amounts have been used or invested.

4. If, in the opinion of the Board, any of the assets other than fixed assets and non-current investments do not have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated, the fact that the Board is of that opinion, shall be stated.

5. Previous Year figures has been regrouped/rearranged wherever considered necessary.

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Mar 31, 2013

1) Pursuant to the Notification No.447 (E) dated February 28,2011 and Notification No.653 (E) dated March 30, 2011, issued by the Ministry of Corporate Affairs, the Company has prepared its financial statements for the year ended March 31, 2013 as per revised schedules VI to the Companies Act, 1956. Accordingly, the previous year''s figures have been regrouped / reclassified, wherever required to align the financial statements.

2. Accounting Standard 19 on Leases is not applicable to the company as the lease is a cancelable lease.

3. The company is not required to disclose Diluted Earnings per Share as it falls under level 3 as per the notification by the Institute of Chartered Accountants of India regarding Applicability of Accounting Standards to SMEs.

4 Balances Due to or due from the parties from whom confirmations are not received are subject to adjustment on receipt of confirmations.

5 Contingent Liabilities: Estimated amounts of contracts remaining to be executed on capital accounts and not proW vided for Rs. Nil

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Mar 31, 2012

1) Pursuant to the Notification No.447 (E) dated February 28,2011 and Notification No.653 (E) dated March 30, 2011, issued by the Ministry of Corporate Affairs, the Company has prepared its financial statements for the year ended March 31, 2012 as per revised schedules VI to the Companies Act, 1956. Accordingly, the previous year's figures have been regrouped / reclassified, wherever required to align the financial statements

2. Accounting Standard 19 on Leases is not applicable to the company as the lease is a cancelable lease.

3. The company is not required to disclose Diluted Earnings per Share as it falls under level 3 as per the notification by the Insti tute of Chartered Accountants of India regarding Applicability of Accounting Standards to SMEs.

4 Balances Due to or due from the parties from whom confirmations are not received are subject to adjustment on receipt of confirmations.

5 Contingent Liabilities: Estimated amounts of contracts remaining to be executed on capital accounts and not provided for Rs. Nil

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Mar 31, 2010

1. Accounting Standard 19 on Leases is not applicable to the company as the lease is a cancelable lease.

2. The company is not required to disclose Diluted Earnings per Share as it falls under level 3 as per the notification by the Institute of Chartered Accountants of India regarding Applicability of Accounting Standards to SMEs.

3 Balances Due to or due from the parties from whom confirmations are not received are subject to adjustment on receipt of confirmations.

4 Contingent Liabilities: Estimated amounts of contracts remaining to be executed on capital accounts and not provided for Rs. Nil