1. The above results have been taken on record by the Board of Directors of the Company at their meeting held on December 19, 2008. 2. As the Company’s business activity falls within a single primary business segment viz., "Two wheelers and its parts" and is a geographical segment, the disclosure requirement of Accounting Standard (AS 17) "Segment Reporting" are not applicable. 3. Subsequent to the financial year end, the Company has sold its two wheeler business (including the facilities at Pithampur) to Mahindra Two Wheelers Pvt Ltd. for a total cash consideration of Rs 1100 million and a consideration in the form of 20% equity shares of that Company valued at Rs 295 million. The sale transaction, profit on sale and other consequential effects will be accounted for in the books in the following financial year. Having regard to the above and financial support from the promoters of the Company, the aforesaid results have been drawn on a ´Going Concern’ basis. 4. Other Income includes Income from Consultancy Services - Quarter ended September 30, 2008 - Rs Nil; Eighteen months ended September 30, 2008 - Rs 21.10 million (Quarter ended September 30, 2007 - Rs Nil; and previous accounting year ended March 31, 2007 - Rs 10.00 million). 5. The current accounting year has been extended to eighteen months period ending on September 30, 2008. 6. During the quarter the Authorised Share Capital of the Company has been increased from Rs 885.60 million to Rs 935.60 million. A H Firodia Chairman