Other Expenditure Includes Rs.326 lacs(Rs.434 lacs) and Rs.795 lacs (Rs.480 lacs) for the quarter and year ended respectively towards voluntary early retirement schemes considered as Deferred Revenue Expenditure written off.

Paid up Equity Share Capital Excludes amount in respect of forfeited shares

1. The above audited results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 13, 2009.

2. Other Expenditure for the quarter ended March 31, 2009 includes Rs.271 lacs as provisions made for diminution in the value of investment and for loans advanced to overseas subsidiary company.

3. a) Exceptional items represent profit on sale of immovable properties.

b) There were no extra ordinary items during the Quarter / Year ended March 31, 2009.

4. The shareholdings of the core promoters in the Company were pledged in 2005 with the company’s lenders to facilitate the company’s Corporate Debt Restructuring Scheme.

5. The consolidated financial results as indicated above includes Hindustan Motors Limited, its three wholly owned subsidiaries and its associate.

6. Prior period figures have been re-grouped / rearranged, wherever necessary.

R Santhanam
Managing Director