Net Sales includes

- Domestic					Rs    15.70 million
- Exports					Rs 4208.50 million



1. The above audited Financial Results for the year ended March 31, 2003 have been taken on record by the Board of Directors of the Company at its meeting on May 12, 2003. 											
2.Other Income largely represents interest earned by investing the surplus funds available with the Company in short-term deposits																	
3.As at March 31, 2003, the Company has reviewed the possible impairment of its leasehold assets at various facilities taken on operating lease. As a result of this review and based on the Company s current growth and expansion plan, the Company has reversed a net impairment loss of Rs.12.60 million charged off in the previous year as accelerated depreciation, since the underlying assets continue to be used for normal business operations.		 
											
4.The Board has recommended a dividend of Rs. 4.50 per equity share for the year. The register of members and share transfer books will remain closed from July 5, 2003 to July 21, 2003, both days inclusive, for the purposes of the Annual General Meeting														
5.During the quarter and year ending March 31, 2003, the Company issued 1,19,075 and 2,50,157 equity shares respectively, pursuant to the exercise of stock options by certain employees														
6. Previous period figures have been regrouped/ recast wherever necessary, to make them comparable with the current period.												
Som Mittal
Managing Director