Paid up Equity Share Capital (Refer note 3 below)

428,222,803 Equity Shares of Re. 1 each fully paid up Rs 428.223 million
518,149,592 Equity Shares of Re. 1 each partly paid up
Re. 0.50 per share Rs 259.075 million

Public Shareholding (Refer note 3 below)

Number of Equity Shares of

- Re. 1 each paid up 180117031
- Re. 0.50 each paid up 777189

Percentage of Shareholding

- Calculated on the total number of shares 19.85
- Calculated on the paid-up capital 26.77

1. Administrative and Other Expenses for the year ended March 31, 2009 includes Rs. 2443.61 lakhs as mark to market forex loss on foreign currency transactions.

2. Tax expense includes fringe benefit tax and wealth tax.

3. On January 19, 2009, the Company has allotted 518,149,592 partly paid up Equity Shares of Re. 1/- each (Re. 0.50 paid up) at a price of Rs. 22 per Equity Share including a premium of Rs. 21 per Equity Share aggregating to Rs. 113,992.91 lakhs upon payment of application money of Rs. 6/- per share. Balance of Rs. 16/- is payable in two installments i.e. Rs. 8 will become payable after 3 months but within 9 months and the balance Rs. 8 will become payable after 9 months but within 18 months from the date of Allotment. The Company has made the first call of Rs. 8/- on the partly paid up shares payable by July 31, 2009. Basic and diluted Earnings per Share (EPS) for the relevant previous year have been recomputed taking into account the effect of this rights issue.

4. Pursuant to notification to the Companies (Accounting Standards) Amendment Rules, 2009 amending Accounting Standard 11, the Company has exercised the option of deferring the charge to the Profit and Loss account arising on exchange difference, in respect of accounting periods commencing on or after December 07, 2006, on long term foreign currency assets. As a result, such exchange difference aggregating to Rs. 148,749,659 so far as they relate to the acquisition of depreciable capital asset have been adjusted with the cost of such assets and would be depreciated over the balance life of the asset. Earlier such difference was charged to Profit and Loss account.

5. Interest Expenses for the quarter and year ended March 31, 2009 are Rs. 1,923.75 lakhs and Rs. 7,270.10 lakhs which are net of interest income of Rs. 206.61 lakhs and Rs. 834.11 lakhs respectively.

6. The above audited financial results as reviewed by the Audit Committee on June 18, 2009 were approved by the Board of Directors at their meeting held.

7. The previous year’s figures have been regrouped / reclassified wherever necessary.

Jawahar Lal Goel
Managing Director