Status of Investor Complaints for the Year ended March 31, 2009

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 46

Complaints disposed off during the quarter 46

Complaints unresolved at the end of the quarter Nil

1. The figures of the corresponding previous period / year have been regrouped / recast wherever considered necessary to correspond to current period / year classification.

2. The Board has recommended a dividend of Rs 6.50 per equity shares of Rs 10/- each.

3. Figures for the corresponding previous period / year includes operations related to Steel unit (including Sponge & WHRS) which has been hived of w.e.f. August 01, 2007, hence are strictly not comparable.

4. Due to inadequate rainfall, the hydro electric plant could not operate during April´08 - September´08 and at much lower levels thereafter.

5. The Company´s Capex programme to increase its Graphite Electrodes Capacity from current 60,000 MT to 66,000 MT p.a. at a capital cost of Rs 42.50 crores is progressing as per schedule.

6. Out of total FCCB of USD 28.75 mn, USD 17.70 mn were converted resulting in allotment of 40,07,517 Equity Shares till the previous financial year, Non of the FCCB´s were converted in the current financial year under review.

7. In view of the average market price of the equity shares of the Company relevant for the quarter and year ended March 31, 2009 being more than the applicable conversion price, the conversion option embedded in 1% Foreign Currency Convertible Bonds (FCCB´s) is considered as dilutive and accordingly has been taken into account for computation of diluted earning per share for the period.

8. In view of the average market price of the equity shares of the Company being less than the conversion price of Preferential Warrants as allotted on June 05, 2008, the same has not been taken into account for computation of diluted earning per share for the quarter and year ended March 31, 2009.

9. Paid Up Equity Shares have been reduced by 17,44,978 shares bought back by the Company under ongoing buy back of shares, out of which 2,41,919 shares were pending for extinguishment as on March 31, 2009.

10. The above audited financial results have been reviewed by the Audit Committee and approved & taken on record by the Board at their respective meetings held on April 30, 2009.

Ravi Jhunjhunwala
Chairman & Managing Director1. The figures of the corresponding previous period / year have been regrouped / recast wherever considered necessary to correspond to current period / year classification.

2. The Board has recommended a dividend of Rs 6.50 per equity shares of Rs 10/- each.

3. Figures for the corresponding previous period / year includes operations related to Steel unit (including Sponge & WHRS) which has been hived of w.e.f. August 01, 2007, hence are strictly not comparable.

4. Due to inadequate rainfall, the hydro electric plant could not operate during April 2008 - September 08 and at much lower levels thereafter.

5. The Company´s Capex programme to increase its Graphite Electrodes Capacity from current 60,000 MT to 66,000 MT p.a. at a capital cost of Rs 42.50 crores is progressing as per schedule.

6. Out of the FCCB of USD 28.75 mn, USD 17.70 mn were converted resulting in allotment of 40,07,517 Equity Shares till the previous financial year, Non of the FCCB´s were converted in the current financial year under review.

7. In view of the average market price of the equity shares of the Company relevant for the quarter and year ended March 31, 2009 being more than the applicable conversion price, the conversion option embedded in 1% Foreign Currency Convertible Bonds (FCCBs) is considered as dilutive and accordingly has been taken into account for computation of diluted earning per share for the period.

8. In view of the average market price of the equity shares of the Company being less than the conversion price of Preferential Warrants as allotted on June 05, 2008, the same has not been taken into account for computation of diluted earning per share for the quarter and year ended March 31, 2009.

9. Paid Up Equity Shares have been reduced by 17,44,978 shares bought back by the Company under ongoing buy back of shares, out of which 2,41,919 shares were pending for extinguishment as on March 31, 2009.

10. The above financial results have been review by the Audit Committee and approved & taken on record by the Board at their respective meetings held on April 30, 2009.

Ravi Jhunjhunwala
Chairman & Managing Director