UNAUDITED FINANCIAL RESULTS (REVIEWED) FOR THE QUARTER/ FIFTEEN MONTHS ENDED 30TH JUNE 2009

(Rs.in crores)
    QUARTER ENDED PERIOD  ENDED
    Reviewed 15 Mths Ended 12 Mths Audited
  Particulars 30.06.09 30.06.08 30.06.09 31.03.08
1 Gross Sales 86.55 90.85 421.55 355.40
  Less: Excise Duty 3.40 6.93 24.20 26.08
  Net Sales 83.15 83.92 397.35 329.32
2 Other operating Income                                                   0.35 0.47 2.27 4.64
3 Total Income  83.50 84.39 399.62 333.96
4 Expenditure        
  a)  (Increase) / Decrease in Stock in trade and work in progress 1.98 (16.31) 9.44 3.92
  b)  Consumption of Raw Materials        41.55 75.86 302.04 247.23
  c)  Power & Fuel 9.51 9.48 42.15 30.69
  d)  Employees Cost 3.27 2.80 14.55 10.36
  e) Depreciation 0.80 2.39 8.29 10.37
  f) Other Expenditures 6.62 10.56 44.37 26.71
  g) Total 63.73 84.78 420.84 329.28
5 Profit(loss) from operations before other income 19.77 (0.39) (21.22) 4.68
  & interest      
6 Other Income                                                   0.01 0.00 0.02 0.04
7 Profit(loss) before interest 19.78 (0.39) (21.20) 4.72
8 Interest & financial charges 1.73 2.45 10.72 8.72
9 Profit(loss)after interest  18.05 (2.84) (31.92) (4.00)
10 Tax expense 0.01 0.05 0.20 0.21
11 Net Profit/ (Loss) from ordinary activities after tax 18.04 (2.89) (32.12) (4.21)
12 Extraordinary Income 0.00 0.00 17.52 0.00
13 Net Profit/ (Loss) for the period 18.04 (2.89) (14.60) (4.21)
14 Paid-up Equity Share Capital (Rs.10 per share) 71.14 71.14 71.14 71.14
15 Reserves excluding Revaluation Reserves          ---          ---          ---          ---
16 Earning Per Share (Rs.) - Basic &  Diluted        
  a) before extraordinary items 2.54 (0.41) (4.52) (0.59)
  b) after extraordinary items 2.54 (0.41) (2.05) (0.59)
17 Public Shareholding        
  -  Number of Shares  30412096 30417096 30412096 30417096
  - Percentage of  Shareholding             42.76 42.76 42.76 42.76
18 Promoters and Promoter Group Shareholding:      
  (I) Pledged/ Encumbered      
  -   Number of Shares 15125000   15125000
  -   Percentage of Shares (as a % of the total shareholding of  37.15   37.15
       Promoter & Promoter Group)      
  -   Pcercentage of Shares ( as a % of the total share capital  21.26   21.26
       of the company      
  (ii) Non-encumbered      
  -   Number of Shares 25596025   25596025
  -   Percentage of Shares (as a % of the total shareholding of  62.85   62.85
       Promoter & Promoter Group)      
  -   Pcercentage of Shares ( as a % of the total share capital  35.98   35.98
       of the company      

Notes:

  1. The company has changed its accounting year from April-March to Oct.-September. Accordingly,the current financial period shall be for a period of 18 months i.e; Ist April 2008-30th Sept.2009.
  2. 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.
  3. During the quarter 8 investor complaints  were  received, which were resolved by the company. 
  4. Figures have been regrouped wherever considered necessary.
  5. These results have been taken on record by the Board of Directors at the meeting held on 31st July 2009
                      On Behalf Of Board of Directors
Dated: 31st July,2009
Place: New Delhi		 Vineet Jain
Managing Director