1. The audited result are subject to review by the Comptroller and Auditor General of India under Section 619 (4) of the Companies Act, 1956.

2. Exceptional items of current year represent mine closure expenditure of Rs 39920 lakhs and increased pay revision arrears of Rs 27383 lakhs, conveyance reimbursement expenditure of 1954 lakhs relating to earlier years.

3. The auditors have made the following observations in their report for the year ended March 31, 2009 that,

All accounting Standards have been complied with except AS-6 with regard to not applying the revised rate of depreciation to the existing Specialised Mining Equipment on the date of approval, for reduction from 11.31% to 6.33% has resulted in understatement of profit by Rs 14733 lakhs.

4. NLC Tamilnadu Power Ltd is a subsidiary company is in construction phase, hence all the transactions have been classified as pre-operative expenses to be capitalised.

5. The consolidated figures includes results in respect of the subsidiary NLC Tamilnadu Power Ltd. Being the first year consolidated figure for the previous year ended March 31, 2008 has not been given in line with the transitional provision of AS 21 issued by ICAI.

6. The Board of Directors have recommended a dividend of Rs 2 per share for the year ended March 31, 2009, subject to the approval of share holders.

7. The above financial results have been reviewed by the Audit committee and approved by the Board of Directors at their meeting held on June 20, 2009.

8.Status of investor complaints :
Complaints at the beginning of the year       06
Received during the year                                 225
Redressed during the year                             228
Balance at the end of the year *                       03
*since resloved 
A R Ansari
Chairman cum Managing Director