Extraordinary Items [Prior period items - (Gain)/Loss] Net of Tax Current Year Nil (Previous Year Rs 18 lacs)- Rs (119.60) million

1. The audited financial statements have been recommended by the Audit Committee and taken on record by the Board of Directors at its meeting held on June 18, 2009. The information presented above is extracted from the audited financial statement.

2. The company has sold Engineering Plastics and Industrial Yarn businesses to M/s. SRF Ltd w.e.f January 01, 2009. Correspondingly, the figures for the current accounting year ended March 31, 2009 includes transactions relating to aforesaid businesses only for 9 months period ended December 31, 2008.

3. Provision for current tax includes a provision for capital gain tax (net of current year business loss) of Rs 385.16 Lacs. The deferred tax represents reversal of deferred tax assets post disposal of businesses. since these assets will not be available for set off.

4. Previous year’s figures have been regrouped and rearranged wherever necessary to conform to current year classification.

Rajat Lakhanpal
Whole time Director & Company Secretary