1. The above results were taken on record by the Board of Directors of the Company at its meeting held on August 03, 2009.
2. The Board of Directors has recommended a dividend of Rs 3.00 per share for the FY 2008-2009.
3. Company launched a tender offer for repurchase of its outstanding Zero Coupon FCCBs of US$ 150 Million due 2012. The tender offer commenced on June 22, 2009 and settlement took place on June 30, 2009. The Company accepted all tenders received amounting to US$ 38.31 Million in face value of bonds having an accreted value US$ 43.67 million (114%) at a Clearing Price of US$ 855 representing 25% discount on the accreted value. The aggregate principal amount of Bonds remaining outstanding after this Tender Offer is US$ 111.69 million. The Bonds have been repurchased at gross repurchase value of US$ 32.75 million resulting in a gain of US$ 10.92 million (Rs. 51.17 Crores) which has been appropriated into other income (Rs. 25.02 Crores) and balance added to securities premium account.
4. Provision for Taxation includes provision for current tax, deferred tax and fringe benefit tax.
5. Previous quarter/ year´s figures are regrouped wherever necessary.
6. In accordance with clause 41 of Listing agreement, the company has published consolidated financial results.
Kamal K Singh
Chairman & Managing Director