1. The above standalone results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 01, 2009.

2. The Board of Directors has recommended a dividend of Rs 1/- (Rupee one) per Equity share of Rs 2/- each.

3. The Compensation & Nomination committee, at its meeting held on January 30, 2009 approved the grant of 28,100 Stock Options to certain employees of the Company. The Options would vest on January 30, 2010 (20%), January 30, 2011 (20%), January 30, 2012 (30%) & January 30, 2013 (30%), subject to the terms of the grant. Each Option is exercisable for 1 Equity Share of face value of Rs 2 each fully paid up on payment of exercise price of Rs 31.05, being the closing price of the share on the National Stock Exchange on January 29, 2009.

4. As required by the amendment to Clause 41 of Listing Agreement dated February 03, 2009. information on pledged / encumbered / unencumbered promoter shares is furnished.

5. During the quarter, the Company invested :
a) Rs 150 cr. in Cholamandalam DBS Finance Ltd by way of subscription to 1.50 Crores 1% fully convertible cumulative preference shares of Rs 100 each. The preference shares are convertible into Equity Shares any time before the expiry of 18 months from the date of allotment.

b) Rs 0.07 cr. as Equity Contribution in its wholly owned subsidiary, TI Financial Holdings Ltd.

6. Cholamandalam DBS Finance Ltd (CDFL), a Joint Venture entity of the Company, had to defer the consideration of their audited financial statements for the year ended March 31, 2009 pending receipt of the order of the Hon’ble High court of Judicature at Madras confirming the capital reduction scheme of CDFL. Consequently, the Company is unable to consider and adopt the consolidated financial statements along with the standalone financial results. The consolidated financial statement will be approved and published separately on receipt of the audited financial statements of CDFL.

7. Previous periods figures have been regrouped / reclassified where necessary.

L Ramkumar
Managing Director