1. The above results for the year ended March 31, 2009 were reviewed by the Audit Committee and thereafter were approved by the Board of Directors in their meeting held on April 21, 2009.

2. The Board of Directors at their meeting held on April 21, 2009 considered and recommended a dividend @ 1000% i.e. Rs 20 per equity share of Rs 2.00 each for the financial year 2008-09. The dates of Book Closure for the entitlement of such dividend and Annual General Meeting shall be decided and informed in due course of time.

3. Mr. Sunil Bharti Mittal, Non-executive and Independent Director has resigned from the directorship of the Company w.e.f. April 21, 2009.

4. As the Company´s business activity falls within a single primary business segment viz Two-wheelers and its parts and is a single geographical segment, the disclosure requirements of Accounting Standard (AS-17) "Segment Reporting", specified in the Companies (Accounting Standard) Rules, 2006 are not applicable.

5. Previous year figures have been regrouped, wherever necessary.

Brijmohan Lall Munjal
Chairman