(Approved by the Board of Directors on 05-02-2013 after review thereof by the Audit Committee)
NOTES
1.	Period end mark-to-market losses (net) recognised in respect of outstanding derivative contracts is Rs. 2.58 crores. (Nine Months ended 31st December, 2011 - Rs.10.88 crores and year ended 31st March, 2012 - Rs. 4.08 crores)
2.	The Company's Spun Pipes and Foundries Unit continues to be under suspension of work effective 2nd May, 2008.
3.a.	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).
3.b.	The Company had to declare suspension of work at the unit effective 8th December, 2010 in consequence of illegal strike/activities by workmen.
4.	During the quarter, the Company has recognised deferred tax assets on business losses to the extent of deferred tax liability.
5.	The financial results have been prepared as per the Revised Schedule VI to the Companies Act, 1956 which has a significant impact on presentation. Comparative figures have been regrouped or rearranged where considered necessary.
6.	The Statutory Auditors of the Company have carried out the Limited Review of the above unaudited financial results in terms of Clause 41 of the Listing Agreement.
	By Order of the Board
	Place : Kolkata Date : 5th February, 2013	K. C. Jain Whole-time Director