1. Exceptional Income / Expenses - (Net):

For the year ended March 31, 2009 (year ended March 31, 2008) comprises: Assignment of leasehold rights / profit on sale of property / surrender of tenancy rights - Rs 2586 lakhs (Rs 2829 lakhs), Profit on sale of business - Rs 873 lakhs (Nil), Reversal of provisions - Nil (Rs 209 lakhs), Charge of VRS expenses - Rs 48 lakhs (Rs 46 lakhs), Provision for doubtful advance Rs 1 lakh (Nil), Provision for diminution in value of Investment - Rs 140 lakhs (Rs 5 lakhs), Impairment of fixed assets - Rs 70 lakhs (Nil).

2. Saudi Ensas Company for Engineering Services WLL (SECL), which was hitherto a joint venture company in Kingdom of Saudi Arabia (KSA), became a wholly-owned subsidiary of the company on January 28, 2009, consequent upon purchase of 51% shareholding of SECL from the local partner and completion of legal process involved in respect thereof SECL is engaged in the execution and operations / maintenance of electro mechanical installations in KSA.

3. On March 31, 2009, the Company has transferred its Chemicals Trading business to DKSH (India) Pvt Ltd on a slump sale basis, for which the shareholders approval was taken under Section 293 (1)(a) of the Companies Act, 1956 by a Postal Ballat.

4. The above results have been reviewed by the Board Audit Committee at its Meeting held on May 28, 2009 and approved by the Board, of Directors at its Meeting held on May 29, 2009.

5. The Board of Directors have recommended a dividend of Rs 1.60 per share of Re 1/- each (160%) for the year 2008-09 (previous year: 135%).

6. Figures for previous year have been regrouped, wherever necessary.

A Soni
Managing Director