1. Commercial production has been considered from March 15, 2009.

2. Trial run income and expenses except interest are included under the respective heads. An amount of Rs 43 crore (US$ 8 million) being the net expense over income during trial run is capitalized and adjusted from "Other expenditure". Turnover includes, trial run sales of Rs 2,418 crore (US$ 477 million).

3. The company is operating an integrated refinery and has identified only one reportable segment. The total capital employed of the company is Rs 33,982 crore (US$ 6.7 billion).

4. The Company has adjusted the foreign currency exchange differences on amounts borrowed for acquisition of fixed assets to the carrying cost of fixed assets in line with the amendment to Accounting Standard (AS 11) on "Effects of Changes in Foreign Exchange Rates" vide GSR Notification 225 (E) dated March 31, 2009.

5. The Scheme of amalgamation of the Company with Reliance Industries Ltd from appointed date of April 01, 2008, has been approved by the shareholders and creditors of both the companies and submitted to the Hon´ble High Court of judicature at Mumbai and Gujarat for sanction u/s 391 and 394 of the Companies Act, 1956.

6. The above results were reviewed by the Audit Committee. The Board of Directors at its meeting held on April 23, 2009, approved the above Results and its release. The statutory auditors of the Company have carried out a Limited Review of the results for the quarter / year ended March 31, 2009.

Mukesh D Ambani
Chairman