2. a.Provision for Current Tax for the nine months ended 31st December, 2009 is net of MAT credit of Rs. 700 lakhs (reversal of MAT credit during the quarter being Rs. 400 lakhs), as the Company is confident to generate sufficient taxable income in the next few years available for set off of the aforesaid credit within the stipulated time.
b.Provision for Current Tax for the nine months ended 31st December, 2008 is net of Rs. 4,092.72 lakhs (including Rs. 1,950.00 lakhs for the quarter ended 31st December, 2008) being excess provision for earlier years written back.
3.Exchange difference (being loss of Rs. 2,187.75 lakhs ) on foreign currency long term loans relating to acquisition of depreciable fixed assets for the nine months ended 31st December, 2008 (including loss of Rs. 552.80 lakhs for the quarter ended 31st December, 2008) was expensed and included under "Other Expenditure" [item 2(i) on page 1]. However, consequent to exercise of the option, in terms of the Notification No.G.S.R. 225(E) dated 31st March, 2009 issued by the Ministry of Corporate Affairs, in the Annual Accounts of 2008-09, such exchange difference have been adjusted to the carrying amount of depreciable fixed assets. As a result of this, profit for the quarter and nine months ended 31st December, 2009 is lower by Rs. 405.47 lakhs and Rs. 721.16 lakhs respectively.
4. Period - end mark-to-market loss recognised in respect of outstanding derivative contracts is Rs. 406.54 lakhs. (31-03-09 - Rs.1,736.12 lakhs).
5. The Company's Spun Pipes and Foundries Unit continues to be under suspension of work (effective 2nd May, 2008).
6. 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.
7. The Board of Directors in its meeting of 30th October, 2009 declared interim dividend at the rate of Rs. 2.25 per share and pursuant to such declaration the company has distributed dividend of Rs. 1,029.22 lakhs during the quarter ended 31st December, 2009.
8. The number of investor complaints received, disposed off and lying unresolved at the quarter ended 31st December, 2009 are as under : Pending at the beginning of quarter - Nil
Received during the quarter - 27
Disposed off during the quarter - 27
Lying unresolved at the end of quarter - Nil
9.Comparative figures have been regrouped or rearranged where considered necessary.
10.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, 2009 in terms of Clause 41 of the Listing Agreement.
