EPS is Basic and Diluted

1. The above results have been taken on record by the Board of Directors in its meeting held on November 13, 2006.

2. Sugar being a seasonal industry, the performance of any quarter may not be representative of the annual performance of the Company.

3. As the Company’s business activity falls within a single primary business segment viz., ´sugar´ and a single geographical segment, the disclosure requirements of Accounting Standard (AS-17) "Segment Reporting" issued by the Institute of Chartered Accountants of India are not applicable.

4. a) The provision for taxation for the year comprises of the tax liability for Assessment year 2006-2007 to the extent relevant to the period from October 01, 2005 to March 31, 2006 and the tax liability estimated based on the profits for the period from April 01, 2006 to September 30, 2006.

b) The provision for income tax has been computed after considering the benefits in respect of the brought forward losses and unabsorbed depreciation allocated to the Company under Section 72A(4)(b) of the Income Tax Act, 1961 from erstwhile undivided Siel Ltd.

5. The Directors recommend dividend @ 10% aggregating Rs 48.45 Millions inclusive of dividend tax.

6. The Hon’ble High Court of Delhi vide its order dated December 06, 2005 has approved the amalgamation of erstwhile Nanglamal Sugar Ltd, a wholly owned subsidiary of the Company, with the company, from the appointed date i.e. October 01, 2004. Consequent thereto, an amount of Rs 14.80 millions, representing net effect of amalgamation has been adjusted against the surplus in profit and loss account carried forward from previous year.

Siddharth Shriram
Chairman