UNAUDITED FINANCIAL RESULTS FOR THE QUARTER & NINE MONTHS ENDED 31ST DECEMBER 2010

(Rs.in crores)
    QUARTER ENDED NINE MONTHS ENDED PERIOD  ENDED
    UNAUDITED REVIEWED UNAUDITED UNAUDITED 6 Months Audited
  Particulars 31.12.10 31.12.09 31.12.10 31.12.09 31.03.10
1 Gross Sales 125.94 104.66 285.02 266.50 228.38
  Less: Excise Duty 10.80 7.74 25.03 16.50 17.51
  Net Sales 115.14 96.92 259.99 250.00 210.87
2 Other operating Income                                                   0.84 2.42 2.37 9.35 3.62
3 Total Income  115.98 99.34 262.36 253.33 214.49
4 Expenditure          
  a)  (Increase) / Decrease in Stock in trade and work in progress 16.31 13.88 (57.66) (4.20) 14.91
  b)  Consumption of Raw Materials        72.40 53.47 235.59 151.81 117.81
  c)  Power & Fuel 9.47 9.35 27.85 28.68 18.44
  d)  Employees Cost 3.64 3.05 10.45 9.07 6.00
  e) Depreciation 0.71 0.76 2.19 2.33 8.62
  f) Other Expenditures 11.26 9.35 38.44 29.41 23.17
  g) Total 113.79 89.86 256.86 211.08 188.95
5 Profit(loss) from operations before other income 2.19 9.48 5.50 42.25 25.54
  & interest        
6 Other Income                                                   0.00 0.01 0.02 0.02 0.01
7 Profit(loss) before interest 2.19 9.49 5.52 42.27 25.55
8 Interest & financial charges 2.00           1.66 5.21 4.94 3.22
9 Profit(loss)after interest  0.19 7.83 0.31 37.33 22.33
10 Tax expense 0.01              -   0.02 0.02 0.01
11 Net Profit/ (Loss) from ordinary activities after tax 0.18 7.83 0.29 37.31 22.32
12 Extraordinary Income 0.00 0.00 0.00 0.42 (14.03)
13 Net Profit/ (Loss) for the period 0.18 7.83 0.29 37.73 8.29
14 Paid-up Equity Share Capital (Rs.10 per share) 71.14 71.14 71.14 71.14 71.14
15 Reserves excluding Revaluation Reserves          ---          ---          ---          ---          ---
16 Earning Per Share (Rs.) - Basic &  Diluted(not annualised)        
  a) before extraordinary items 0.02 1.10 0.04 5.24 3.14
  b) after extraordinary items 0.02 1.10 0.04 5.30 1.16
17 Public Shareholding          
  -  Number of Shares  30411646 30417096 30411646 30417096 30412096
  - Percentage of  Shareholding             42.76 42.76 42.76 42.76 42.76
18 Promoters and Promoter Group Shareholding:        
  (I) Pledged/ Encumbered        
  -   Number of Shares 15125000 15125000 15125000 15125000 15125000
  -   Percentage of Shares (as a % of the total shareholding of  37.15 37.15 37.15 37.15 37.15
       Promoter & Promoter Group)          
  -   Pcercentage of Shares ( as a % of the total share capital  21.26 21.26 21.26 21.26 21.26
       of the company          
  (ii) Non-encumbered          
  -   Number of Shares 25596475 25596025 25596475 25596025 25596025
  -   Percentage of Shares (as a % of the total shareholding of  62.85 62.85 62.85 62.85 62.85
       Promoter & Promoter Group)          
  -   Pcercentage of Shares ( as a % of the total share capital  of the company 35.98 35.98 35.98 35.98 35.98
                
Notes:
  1. Since the company has carried forward losses, the deferred tax assets  have not been recognised considering the principle of virtual certainity as  stated in the AS-22 Accounting for Taxes on Income.
  2. Other operating income includes exchange gain of Rs. 0.14 crs for corresponding quarter it was Rs.1.97 crs.
  3. During the quarter 11 investor complaints  were  received, which were resolved by the company. 
  4. Figures have been regrouped wherever considered necessary.
  5. These results have been reviewed by Audit Committee and taken on record by  the Board of Directors at  the meeting held on11.01.2011, subject to limited review by auditors of the company.
 
Dated: 11th Jan.2011
Place :New Delhi 		 Vineet Jain
Managing Director