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  Financial Info

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Quarterly Financial Statement for quarter ended -  December 31, 2009
 
  Quarter Ended Corresponding Quarter in previous year Year to date figures for current period Year to date figures for previous year Previous accounting year
  Dec 31, 2009 Dec 31, 2008 Dec 31, 2009 Dec 31, 2008 Mar 31, 2009
Net Sales  2,212.10  1,503.10  6,086.70  1,503.10  0.00
Other Income  12.50  4.80  33.90  14.60  37.77
Expenditure  -2,036.40  -1,668.80  -5,694.20  -3,335.10  -7,055.08
Interest  -81.80     -164.70      
Profit (+)/ Loss (-) from Ordinary Activities before Tax  106.40  -261.00  174.60  -281.20  -453.29
Tax  -37.50  88.60  -59.90  92.40  142.98
Net Profit  68.90  -172.40  114.70  -188.80  -310.31
Equity Capital  198.70  198.70  198.70  198.70  198.74
Reserves  0.00  0.00  0.00  0.00  1,468.04
Depreciation  0.00  0.00  0.00  0.00  0.00
EPS  0.35  -0.87  0.58  -1.03  -1.56

(in Rs. million)
 

Notes
Status of Investor Complaints for the quarter

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 06

Complaints disposed off during the quarter 06

Complaints unresolved at the end of the quarter Nil

1. The above results as reviewed by the Audit Committee have been taken on record by the Board of Directors in its meeting held on January 30, 2010.

2. EPS has been computed in accordance with the Accounting Standard AS - 20.

3. Net Sales are net of trade discount/ trade incentives.

4. There was no exceptional/ extra ordinary item during the Nine months ended December 31, 2009.

5. As required under Clause 41 of the Listing Agreement, Limited Review of above mentioned results has been completed by the statutory Auditors and the Report of the same has been placed before the Board.

6. Pursuant to Clause 41 of the Listing Agreement, the Vice Chairman & Managing Director and Chief Financial Officer of the Company have certified that the above financial results do not contain any false or misleading statement or figure and do not omit any material fact which may make the statements or figures contained therein misleading.

7. The Company was in the process of construction of a plant at Singur in the state of West Bengal for supply of automotive components to Tata Motors Ltd primarily for use in the manufacture of its new small car Nano. Tata Motors Ltd has suspended the work at the location. As a result of this, the Management of the Company has also taken a decision to suspend the construction for the time being. The Company continues to hold the title to land and lease rent is being paid on time to the Government. A decision regarding the potential use of land and other infrastructure already created at the site is under consideration of the Management. Pending a detailed evaluation of options relating to facility, the capital work in progress continues to be stated at the carrying cost.

8. In compliance with the provisions of Clause 41 of the Listing Agreement with Stock Exchanges, the figures for the previous periods have been recast, wherever necessary, in line with the Accounting Policies followed in the current period.

Sunjay Kapur
Vice Chairman & Managing Director
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