AUDITED FINANCIAL RESULTS FOR THE QUARTER & PERIOD ENDED 30TH SEPTEMBER 2009

(Rs.in crores)
    QUARTER ENDED PERIOD  ENDED
    AUDITED REVIEWED 18 Mths Ended 12 Mths Audited
  Particulars 30.09.09 30.09.08 30.09.09 31.03.08
1 Gross Sales 75.29 71.93 496.84 355.40
  Less: Excise Duty 5.36 5.20 29.56 26.08
  Net Sales 69.93 66.73 467.28 329.32
2 Other operating Income                                                   0.56 0.85 2.83 4.64
3 Total Income  70.49 67.58 470.11 333.96
4 Expenditure        
  a)  (Increase) / Decrease in Stock in trade and work in progress (20.06) (13.16) (10.62) 3.92
  b)  Consumption of Raw Materials        56.79 59.54 358.83 247.23
  c)  Power & Fuel 9.82 8.01 51.97 30.69
  d)  Employees Cost 2.75 2.74 17.30 10.36
  e) Depreciation 0.77 2.54 9.06 10.37
  f) Other Expenditures 7.42 12.21 51.79 26.71
  g) Total 57.49 71.88 478.33 329.28
5 Profit(loss) from operations before other income& interest 13.00 (4.30) (8.22) 4.68
6 Other Income                                                   0.00 0.01 0.02 0.04
7 Profit(loss) before interest 13.00 (4.29) (8.20) 4.72
8 Interest & financial charges 1.55              2.66 12.27 8.72
9 Profit(loss)after interest  11.45 (6.95) (20.47) (4.00)
10 Tax expense 0.01              0.08 0.21 0.21
11 Net Profit/ (Loss) from ordinary activities after tax 11.44 (7.03) (20.68) (4.21)
12 Extraordinary Income 0.42 0.00 17.94 0.00
13 Net Profit/ (Loss) for the period 11.86 (7.03) (2.74) (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 1.61 (0.99) (2.91) (0.59)
  b) after extraordinary items 1.67 (0.99) (0.38) (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 15125000 15125000
  -   Percentage of Shares (as a % of the total shareholding of  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
       of the company        
  (ii) Non-encumbered        
  -   Number of Shares 25596025 25596025 25596025 25596025
  -   Percentage of Shares (as a % of the total shareholding of  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

Notes:

  1. The current  accounting  period is for 18 months (01.04.2008 to 30.09.2009) whereas last accounting period was of 12 months ,as such the figures are not compareable.
  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 current period  the company has incurred  Exchange loss of Rs.1.30 Crores as against  Exchange Gain of Rs. 2.77 Crores in the previous year
  4. During the quarter 11 investor complaints  were  received, which were resolved by the company. 
  5. Figures have been regrouped wherever considered necessary.
  6. These results have been taken on record by the Board of Directors at the meeting held on 19Th Nov. 2009
                      On Behalf Of Board of Directors
Dated: 19th November,2009           
Place: New Delhi		     Vineet Jain
Managing Director