NOTES :
 
1. Sales are inclusive of Excise duty.

2. 'Other Expenditure' for the quarter and half year ended 30th September, 2008 includes Rs. 2235.68 lacs and Rs. 3440.66 lacs respectively relating to unrealised loss on foreign exchange fluctuation (net).

3. Provision for Current Tax for the half year ended 30th September, 2008 is net of Rs. 2142.72 lacs (Rs. Nil for the quarter ended 30th September, 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 half year ended 30th September, 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) and on availability of related books and records now, results as per the books of account of the Unit for the quarter/half year ended 30th September, 2008 have been incorporated in these results.

6. The Greenfield tyre project in Uttaranchal with production capacity of 257 MT/day is being implemented, of which part of the production capacity (70 MT per day in May, 2008 and another 80 MT per day in September, 2008) commenced commercial production and the balance capacity is expected to come up in phases by end 2008/early 2009.

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. The Board of Directors in its meeting of 31st October, 2008 declared interim dividend at the rate of Rs. 2.25 per share.

9. The number of investor complaints received, disposed off and lying unresolved at the quarter ended 30th September, 2008 are as under :
                                         Pending at the beginning of quarter - Nil
                                         Received during the quarter - 63
                                         Disposed off during the quarter - 63
                                         Lying unresolved at the end of quarter - Nil

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

11. The Statutory Auditors of the Company have carried out the limited review of the above unaudited financial results for the quarter and half year ended 30th September, 2008 in terms of Clause 41 of the Listing Agreement.

	By Order of the Board
Place : Kolkata Date : 31st October, 2008	B. K. Birla Chairman