UNAUDITED FINANCIAL RESULTS (REVIEWED) FOR THE QUARTER / NINE MONTHS ENDED 31ST DECEMBER 2008

(Rs.in crores)
    QUARTER ENDED NINE MONTHS ENDED YEAR ENDED (AUDITED)
  Particulars 31.12.08 31.12.07 31.12.08 31.12.07 31.03.08
1 Gross Sales 74.69 90.42 237.47 242.92 355.40
  Less: Excise Duty 4.85 6.80 16.98 17.97 26.08
  Net Sales 69.84 83.62 220.49 224.95 329.32
2 Other operating Income                                                   0.32 1.23 1.64 5.19 4.64
3 Total Income  70.16 84.85 222.13 230.14 333.96
4 Expenditure          
  a)  (Increase) / Decrease in Stock in trade and work in progress 13.02 1.15 (16.45) (14.91) 3.92
  b)  Consumption of Raw Materials 75.62 64.99 211.02 181.85 247.23
  c)  Power & Fuel 6.33 7.54 23.82 22.32 30.69
  d)  Employees Cost 2.77 2.56 8.31 7.69 10.36
  e) Depreciation 1.77 2.66 6.70 7.98 10.37
  f) Other Expenditures 4.08 6.58 26.85 20.26 26.71
  g) Total 103.59 85.48 260.25 225.19 329.28
5 Profit/(loss) from operations before other income&interest  (33.43) (0.63) (38.12) 4.95 4.68
6 Other Income                                                   0.00 0.00 0.01 0.00 0.04
7 Profit / (loss) before interest (33.43) (0.63) (38.11) 4.95 4.72
8 Interest & financial charges 3.07 2.26 8.18 6.36 8.72
9 Profit / (loss)after interest  (36.50) (2.89) (46.29) (1.41) (4.00)
10 Tax expense 0.02 0.05 0.15 0.16 0.21
11 Net Profit / (Loss) from ordinary activities after tax (36.52) (2.94) (46.44) (1.57) (4.21)
12 Paid-up Equity Share Capital (Rs.10 per share) 71.14 71.14 71.14 71.14 71.14
13 Reserves excluding Revaluation Reserves          ---          ---          ---          ---          ---
14 Earning Per Share (Rs.) - Basic &  Diluted (5.13) (0.41) (6.53) (0.22) (0.59)
15 Public Shareholding          
  -  Number of Shares  30417096 30417096 30417096 30417096 30417096
  - Percentage of  Shareholding  42.76 42.76 42.76 42.76 42.76
 

Notes:

  1. The company has suffered loss due to sluggish demand on account of global slow down coupled with volatility in raw material prices & Re-Dollar.  Further in accordance with AS-2 the company has written down inventory to Net Realisable value by Rs. 10.31 Crores.
  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 nine months  the company has incurred  Exchange loss of Rs.5.47 Crores as against  Exchange Gain of Rs. 3.89 Crores in the corresponding period  of previous year
  4. During the quarter 22 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 30th  January, 2009.
  On Behalf Of Board of Directors
Dated: 30th January, 2009 
Place: New Delhi		     Vineet Jain
Managing Director