1. The Company operates only in one segment namely Iron Castings.

2. The above results have been reviewed by the Audit Committee and have been approved by the Board of Directors at their respective meetings held on June 09, 2009.

3. The Board of Directors has recommended a dividend of 50 paise per Equity Share of Rs 5 each (i.e. 10 percent) for the financial year 2008-2009.

4. The Rights issue proceeds of Rs 226.74 crores has been fully utilised towards the Rights issue object Rs 225.32 Crores & towards the Right issue expenses Rs 1.42 crores. In case of the Installation of Hot Blast Stoves for MBF - I and the Installation of Moulding Line, the actual expenditure has amounted to Rs 20.75 crores and Rs 109.57 crores respectively as against Rs 19.13 crores and Rs 73.98 crores respectively as mentioned in the Letter of Offer dated January 02, 2007.

5. In terms of the Letter of offer dated January 02, 2007, the Company has received Rs 1,01,32,290 towards the Warrants Conversion proceeds till March 31, 2009. Out of which, Rs 1,01,25,990 has been utilised towards the installation of Sinter Plant & Rs 6300 was lying in a separate bank account pending allotment of Equity Shares.

6. Consequent to the allotment of Equity shares against the conversion of Detachable Warrants (in terms of the Letter of Offer dated January 02, 2007), the Paid up Share Capital of the Company stands increased from Rs 68,64,70,145 as on December 31, 2008 to Rs 68,64,72,395 as on February 10, 2009.

7. The disclosure regarding details of promoter & promoter group shareholding, including the details of pledge of shares, has been made effective from February 03, 2009. Accordingly, the disclosure corresponding to previous quarter & previous year is not applicable.

8. Figures have been regrouped wherever necessary.

R V Gumaste
Managing Director