NOTES :
 
1. Sales are inclusive of Excise duty.

2. 'Other Expenditure' for the quarter and nine months ended 31st December, 2008 includes Rs.1010.71 lakhs and Rs. 3818.43 lakhs respectively relating to unrealised loss on foreign exchange fluctuation (net).

3. Provision for Current Tax for the nine months ended 31st December, 2008 is net of Rs. 4092.72 lakhs (including Rs.1950.00 lakhs for the quarter ended 31st December, 2008) being excess provision for earlier years written back.
 
4. Pursuant to the Order dated 5th February, 2002 of the Honourable Calcutta High Court, Deferred Tax liability / asset (net) in earlier years / periods were first adjusted against the available balance in Securities Premium Account ( completely utilised by 31st March, 2008 ) and proportionate shortfall recognised as a charge to Profit and Loss Account. Deferred tax charge for the quarter and nine months ended 31st December, 2008 has been fully recognised in the Profit and Loss Account.
 
5. The Company's Spun Pipes and Foundries Unit continues to be under suspension of work ( effective 2nd May, 2008).
 
6. The Greenfield tyre project in Uttaranchal with production capacity of 257 MT / day has been completed in January, 2009. Commercial production for 200 MT / day (including 50 MT / day during the quarter ended 31st, December, 2008) has come up during the nine months ended 31st December, 2008 and the balance 57 MT / day subsequently.
 
7. Pending disposal (consented by the shareholders in March, 2006) of the Company's Hindusthan Heavy Chemicals Unit, the revenue / expenses of the Unit (insignificant in terms of the Company's total revenue / expenses ) have been and will be included in these and subsequent results till its disposal.
 
8. Consequent to sluggish demand resulting, inter-alia, from partial production shut down by certain major automobile manufacturers, the Company's Tyre Unit declared suspension of production at its Balasore factory from 17th December, 2008 till 31st December, 2008 and again from 17th January, 2009 till 31st January, 2009 and is also envisaging production cut in the coming months till 31st March, 2009.

9. Steps are being initiated by the Company for amalgamation of Bulland Buildmart Pvt. Ltd., a wholly owned subsidiary, with the Company.

10. The Board of Directors in its meeting of 31st October, 2008 declared interim dividend at the rate of Rs. 2.25 per share and pursuant to such declaration the Company has distributed dividend of Rs. 1029.22 lakhs during the quarter ended 31st December, 2008.

11. The number of investor complaints received, disposed off and lying unresolved at the quarter ended 31st December, 2008 are as under :
                                                                     Pending at the beginning of quarter - Nil
                                                                     Received during the quarter - 37
                                                                     Disposed off during the quarter - 37
                                                                     Lying unresolved at the end of quarter - Nil

12. Comparative figures have been regrouped or rearranged where considered necessary.

13. The Statutory Auditors of the Company have carried out the limited review of the above unaudited financial results for the quarter and nine months ended 31st December, 2008 in terms of Clause 41 of the Listing Agreement.

	By Order of the Board
Place : Kolkata Date : 24th January, 2009	B. K. Birla Chairman