1. Total Operating Income for the year at Rs 1379.25 crores grew by 20% over the previous year driven by strong branded tea performance reflecting higher realization and volume growth.

2. The Profit before Tax and exceptional items at Rs 238.65 crores improved by 4% over the previous year though impacted by higher input costs, adverse movement of exchange rates and higher actuarial charge on revaluation of employee benefits. However, Profit before Tax at Rs 229.06 crores and the Profit after Tax at Rs 159.06 crores were lower compared to the previous year due to one time profit on sale of the North India Plantations Division amounting to Rs 161.69 crores in the previous year.

3. Exceptional items during the year comprises of amortization of amounts incurred on Employee Separation Scheme of Rs 8.78 crores and costs on new business initiatives Rs 5.95 crores reduced by profit on sale of long term Investments of Rs 5.14 crores.

4. The Earnings per Share (Basic and Diluted) for the year ended March 31, 2009 is Rs 25.72 compared to Rs 50.79 for the previous year. The Earnings per Share (Basic and Diluted) for the year ended March 31, 2009 on Profit prior to Exceptional (net of tax thereon) is Rs 26.63 compared to Rs 25.82 for the previous year.

5. As the Company´s activity falls within a single business segment, viz "Buying / Blending and Sale of tea in bulk and value added form" the disclosure requirements of Accounting Standard (AS-17) on "Segment Reporting" notified by the Companies (Accounting Standard) Rules 2006, are not applicable.

6. Previous year´s figures have been rearranged / regrouped to the extent necessary, to conform to the current period´s figures.

7. The Board of Directors have recommended a dividend payment of Rs 17.50 per share (Face value Rs 10 each) for the year ended March 31, 2009.

8. The aforementioned results were reviewed by the Audit Committee of the Board on May 29, 2009 and subsequently taken on record by the Board of Directors at its Meeting held on June 10, 2009. The statutory auditors of the company have audited these results.

Ratan N Tata
Chairman