1. The above results were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors held on April 27, 2009, and is subject to limited review by the Auditors of the company.

2. The Company has only one reportable business segment, namely, Flexible Packaging Films. The production of polyester yarn has been suspended.

3. The company has not exercised the option provided by Ministry of Corporate Affairs (MCA) vide its notification no G.S.R. 225(E) dated March 31, 2009 relating to Accounting Standard 11 Effects on change in Foreign Exchange Rates. The company has continued to adjust profit/loss due to exchange difference on long term foreign currency loans taken for fixed assets in the profit and loss account as per (AS-11). During the quarter and year ended March 31, 2009 company has provided a loss of Rs 1441 lacs and Rs 6103 lacs on account of depreciation of Indian Rupee against US Dollar under the head exceptional items.

4. (i) The Board of Directors at its meeting held on July 14, 2008 announced a buy-back of its fully paid up Equity shares for an aggregate amount not exceeding Rs 150 crores at a maximum price of Rs 350/- per share from the open market through the stock exchanges. The buy-back commenced on December 22, 2008 and will close on April 30, 2009. The paid up Equity Share capital stands reduced by 16,28,770 no. of Equity Shares during the year ended on March 31, 2009 due to extinguishment of Equity Shares on account of on going buy-back programme of the company.

(ii) Till April 24, 2009, the Company has purchased a total of 31,50,991 (subject to close out nos.) Equity Shares at an average price of Rs 269.90 per Equity Share absorbing a total amount of Rs 8504.17 Lacs and extinguished a total no. of 22,95,138 Equity Shares.

5. The Status of approved expansion plans approved by the Board in their meeting held on April 29, 2008 is as under :

(i) Polyester Film - 50,000 MT. p.a. - Two Lines each of 25,000 MT p.a. -
One Thin Film line is expected to commence production in September, 2009.

(ii) One Thick Film line is expected to be in production in year 2010.

(iii) One BOPP Thin Film line 20,000 MT has been planned for commissioning by mid 2010.
Another BOPP line of 40,000 MT p.a. has been deferred to 2010-2011.

(iv) Two new Metallizers of 7000 MT. p.a. each are expected to be commissioned in December, 2009 and March, 2010.

6. The above financial results are stand-alone figures and do not include the results of subsidiaries. The consolidated figures are as under-:

For the Quarter ended March 31, 2009:

Turnover - 40673
Net Profit After Tax - 3245
Basic & Diluted EPS (not annualised/ Rs) 
-including Exceptional Items - Rs 12.26
-Excluding Exceptional Items - Rs 17.71

8. Figures for the previous quarters/ period have been regrouped /rearranged wherever required.