Equity Share Capital : It excludes 11,99,394 equity shares standing to the credit of buy-back account of the Company bought back during the quarter ended March 31, 2009 and pending extinguishment as on that date.

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 May 09, 2009. The information presented above is extracted from the audited financial statements.

2. The company has paid two interim dividends each of Rs 5 per share aggregating to Rs 10 per share for the year 2008-09. The board recommended a Nil final dividend for the year 2008-09.

3. The Board of Directors at its meeting held on April 25, 2008 announced a buy-back of the fully paid up equity shares not exceeding Rs. 70 Crores at a maximum price of Rs. 160/- per share from the open market through the stock exchanges. The buy-back commenced on July 02, 2008 and closed on April 16, 2009 as per terms of the public announcement. An aggregate of 73,81,425 equity shares at an average market price of Rs 94.83 per share were bought back absorbing a total amount of Rs 69.99 Crores (Rs 70 Crore approx) i.e. the 100% of the maximum buyback size.

4. Exchange Currency loss includes Rs 2.61 crores for the period January-March 09 and Rs 58.61 crores for the financial year 2008-09 on account of restatement of foreign currency loans and Mark to Market of foreign currency hedge contracts.

5. The quarterly performance of Technical Textiles Business was affected on account of adverse market conditions leading to temporary shut down of Manali Plant, which has recommenced operations and is presently operating at full capacity.

6. The company has commissioned and capitalized (i) Expansion of capacity of Trifluoroacetic Acid and other derivatives by 750 TPA at a total cost of Rs 25.62 Crores. (ii) Enhancement of Greige Fabric Capacity by 4875 MT at a cost of Rs 18.86 Crores. (iii) Poly Debottlenecking and conventional spinning modifications at a cost of Rs 33.55 Crores.

7. The company has acquired Engineering Plastics and Industrial Yarn businesses from SRF Polymers Limited w.e.f January 01, 2009. The figures of the quarter include the results of acquired businesses. Hence the same are not comparable to the corresponding period of last year.

8. Previous period figures have been regrouped wherever necessary to conform to current quarter and year end classifications.

Ashish Bharat Ram
Managing Director