1. The above audited results were reviewed by the Audit Committee at its meeting held on June 19, 2009 and were approved by the Board of Directors at their meeting held on that date.

2. The company operates in a single primary business segment i.e. SAW PIPES.

3. Board of Directors recommended a dividend of 30% i.e. Rs. 1.50 per share for the year 2008-09 subject to approval by the shareholders of the company.

4. The consolidated financial results for the year 2008-09 as indicated in above table includes results of subsidiary Man Infraprojects Ltd. (including its subsidiary), and wholly owned subsidiaries i.e. Man USA INC and Man Overseas Metal DMCC, but does not includes proportionate interest in joint venture company i.e. Man Global FZC.

5. The Promoters of the Company have not pledged any of the shares held by them in the Company.

6. Previous periods / year figures have been re-grouped and re-arranged wherever necessary.

R C Mansukhani
Chairman