Status of Investors Complaints for the year ended December 31, 2003

Complaints pending at the beginning of the quarter NIL

Complaints received during the quarter 91

Complaints disposed off during the quarter 91

Complaints unresolved at the end of the quarter NIL


1. In view of the merger of Phillips Glass India Ltd, Electric Lamp Manufacturers (India) Ltd and Punjab Anand Lamp Industries Ltd with Phillips India Ltd with appointed date April 1, 2002, the figures for current year are not comparable with the prior year figures.

2. As a result of merger, paid up equity share capital of the Company has increased from Rs 455.00 million to Rs 582.00 million. The preference share capital of Rs 100 million was redeemed during the year.

3. Exceptional items include a charge of Rs 348 million under an employees voluntary retirement scheme, surplus of Rs 35 million on sale of Communication, Security & Imaging Business profit of Rs 139 million on sale of property, release of provision Rs 17 million for expenses in connection with Amalgamation and additional depreciation Rs 50 million for writing down the value of certain assets no longer in active use to the realisable value.

4. The Board of Directors have proposed an equity dividend of Rs 1.50 (2002 - Rs 1.50) per share.

5. Prior years figures have been regrouped, recast and restated where necessary to conform to current years classification.

6. The above results have been approved by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on February 11, 2004. 


K Ramachandra
Managing Director