1. In view of the satisfactory working results during the year, the Board of Directors has recommended a dividend of Re. 0.75 per share (75%) on Equity Shares and Rs.6/- per share (6%) on Redeemable Non-Cumulative Preference Shares.

2. This statement has been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held on 19th May, 2009.

3. Total income for Q4 and upto Q4 does not include the value of free materials of approx. Rs. 68 cr. and Rs.224 cr. respectively provided to the Company by Indian Railways and other customers for some major contracts.

4. Company received an order for 2068 Wagons valuing Rs.380 cr. from Indian Railways against FY 08-09 during May ´09.

5. The face value of Equity shares of Rs.10/- each has been sub-divided into Equity Shares of Re. 1/- each w.e.f. 9th January, 2009.

6. Figures for the previous periods have been rearranged / regrouped wherever necessary to make them comparable.

D H Kela
Director