| (Rs.in Million) |
| Particulars | Mar 2004 | Mar 2003 | Mar 2002 |
| EQUITY AND LIABILITIES | 0 | 0 | 0 |
| Share Capital | 83.46 | 83.46 | 83.46 |
| Equity - Authorised | 150.00 | 150.00 | 150.00 |
| Equity - Issued | 83.41 | 83.41 | 83.41 |
| Equity Paid Up | 83.41 | 83.41 | 83.41 |
| Equity Shares Forfeited | 0.05 | 0.05 | 0.05 |
| Adjustments to Equity | 0.00 | 0.00 | 0.00 |
| Preference Capital Paid Up | 0.00 | 0.00 | 0.00 |
| Face Value | 10.00 | 10.00 | 10.00 |
| Share Warrants & Outstandings | 0.00 | 0.00 | 0.00 |
| Total Reserves | 1604.85 | 1529.31 | 1493.26 |
| Securities Premium | 139.81 | 139.81 | 139.81 |
| Capital Reserves | 0.92 | 0.92 | 0.92 |
| Profit & Loss Account Balance | 81.67 | 80.39 | 134.16 |
| General Reserves | 604.72 | 484.72 | 350.85 |
| Other Reserves | 777.74 | 823.47 | 867.53 |
| Reserve excluding Revaluation Reserve | 834.21 | 712.93 | 632.82 |
| Revaluation reserve | 770.65 | 816.38 | 860.44 |
| Shareholder's Funds | 1688.31 | 1612.76 | 1576.71 |
| Minority Interest | 0.00 | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 | 0.00 |
| Secured Loans | 636.77 | 554.89 | 599.00 |
| Non Convertible Debentures | 0.00 | 0.00 | 0.00 |
| Converible Debentures & Bonds | 0.00 | 0.00 | 0.00 |
| Packing Credit - Bank | 0.00 | 0.00 | 0.00 |
| Inter Corporate & Security Deposit | 0.00 | 0.00 | 0.00 |
| Term Loans - Banks | 289.90 | 0.00 | 220.00 |
| Term Loans - Institutions | 240.99 | 398.10 | 261.30 |
| Other Secured | 105.88 | 156.79 | 117.70 |
| Unsecured Loans | 67.89 | 18.78 | 26.35 |
| Fixed Deposits - Public | 0.00 | 0.38 | 0.53 |
| Loans and advances from subsidiaries | 0.00 | 0.00 | 0.00 |
| Inter Corporate Deposits (Unsecured) | 0.00 | 0.00 | 0.00 |
| Foreign Currency Convertible Notes | 0.00 | 0.00 | 0.00 |
| Long Term Loan in Foreign Currency | 0.00 | 0.00 | 0.00 |
| Loans - Banks | 0.00 | 0.00 | 0.00 |
| Loans - Govt. | 0.00 | 0.00 | 0.00 |
| Loans - Others | 0.00 | 0.00 | 0.00 |
| Other Unsecured Loan | 67.89 | 18.40 | 25.81 |
| Deferred Tax Assets / Liabilities | 250.14 | 246.97 | 221.39 |
| Deferred Tax Assets | 8.37 | 7.99 | 6.97 |
| Deferred Tax Liability | 258.51 | 254.95 | 228.36 |
| Other Long Term Liabilities | 0.00 | 0.00 | 0.00 |
| Long Term Trade Payables | 0.00 | 0.00 | 0.00 |
| Long Term Provisions | 0.00 | 0.00 | 0.00 |
| Total Non-Current Liabilities | 954.80 | 820.63 | 846.74 |
| Current Liabilities | 0 | 0 | 0 |
| Trade Payables | 282.35 | 331.43 | 322.61 |
| Sundry Creditors | 266.73 | 321.35 | 317.22 |
| Acceptances | 15.62 | 10.07 | 5.39 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 86.36 | 97.46 | 101.57 |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | 0.00 |
| Advances received from customers | 0.00 | 88.51 | 90.30 |
| Interest Accrued But Not Due | 2.70 | 4.08 | 6.41 |
| Share Application Money | 0.00 | 0.00 | 0.00 |
| Current maturity of Debentures & Bonds | 0.00 | 0.00 | 0.00 |
| Current maturity - Others | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 83.67 | 4.87 | 4.86 |
| Short Term Borrowings | 0.00 | 0.00 | 0.00 |
| Secured ST Loans repayable on Demands | 0.00 | 0.00 | 0.00 |
| Working Capital Loans- Sec | 0.00 | 0.00 | 0.00 |
| Buyers Credits - Unsec | 0.00 | 0.00 | 0.00 |
| Commercial Borrowings- Unsec | 0.00 | 0.00 | 0.00 |
| Other Unsecured Loans | 0.00 | 0.00 | 0.00 |
| Short Term Provisions | 61.62 | 38.81 | 29.27 |
| Proposed Equity Dividend | 41.70 | 25.02 | 20.85 |
| Provision for Corporate Dividend Tax | 5.34 | 3.21 | 0.00 |
| Provision for Tax | 0.00 | 0.00 | 0.00 |
| Provision for post retirement benefits | 0.00 | 0.00 | 0.00 |
| Preference Dividend | 0.00 | 0.00 | 0.00 |
| Other Provisions | 14.57 | 10.58 | 8.42 |
| Total Current Liabilities | 430.33 | 467.69 | 453.45 |
| Total Liabilities | 3073.44 | 2901.09 | 2876.90 |
| ASSETS | 0 | 0 | 0 |
| Gross Block | 4182.28 | 4039.43 | 3970.81 |
| Less: Accumulated Depreciation | 2151.94 | 2061.32 | 1946.96 |
| Less: Impairment of Assets | 0.00 | 0.00 | 0.00 |
| Net Block | 2030.34 | 1978.12 | 2023.85 |
| Lease Adjustment A/c | 0.00 | 0.00 | 0.00 |
| Capital Work in Progress | 34.38 | 24.30 | 18.99 |
| Non Current Investments | 13.30 | 23.88 | 40.00 |
| Long Term Investment | 13.30 | 23.88 | 40.00 |
| Quoted | 0.00 | 0.00 | 0.00 |
| Unquoted | 15.19 | 25.77 | 41.90 |
| Long Term Loans & Advances | 0.00 | 0.00 | 0.00 |
| Other Non Current Assets | 0.00 | 0.00 | 0.00 |
| Total Non-Current Assets | 2078.02 | 2026.30 | 2082.83 |
| Current Assets Loans & Advances | 0 | 0 | 0 |
| Currents Investments | 12.12 | 2.00 | 1.00 |
| Quoted | 0.00 | 0.00 | 0.00 |
| Unquoted | 12.12 | 2.00 | 1.00 |
| Inventories | 228.44 | 181.65 | 179.27 |
| Raw Materials | 88.80 | 43.41 | 50.31 |
| Work-in Progress | 19.20 | 17.75 | 24.04 |
| Finished Goods | 9.25 | 14.80 | 13.87 |
| Packing Materials | 0.00 | 0.00 | 0.00 |
| Stores and Spare | 101.57 | 95.03 | 82.25 |
| Other Inventory | 9.62 | 10.65 | 8.81 |
| Sundry Debtors | 327.50 | 308.32 | 220.66 |
| Debtors more than Six months | 25.24 | 15.23 | 21.76 |
| Debtors Others | 302.26 | 293.09 | 198.90 |
| Cash and Bank | 68.55 | 45.19 | 26.79 |
| Cash in hand | 22.61 | 0.63 | 0.31 |
| Balances at Bank | 45.94 | 44.56 | 26.48 |
| Other cash and bank balances | 0.00 | 0.00 | 0.00 |
| Other Current Assets | 6.96 | 8.60 | 16.01 |
| Interest accrued on Investments | 5.16 | 0.00 | 0.00 |
| Interest accrued on Debentures | 0.00 | 0.00 | 0.00 |
| Deposits with Government | 0.00 | 0.00 | 0.00 |
| Interest accrued and or due on loans | 0.00 | 5.99 | 5.13 |
| Prepaid Expenses | 0.00 | 0.00 | 0.00 |
| Other current_assets | 1.80 | 2.61 | 10.88 |
| Short Term Loans and Advances | 350.26 | 322.36 | 338.26 |
| Advances recoverable in cash or in kind | 184.99 | 133.37 | 147.35 |
| Advance income tax and TDS | 20.97 | 15.66 | 8.57 |
| Amounts due from directors | 0.00 | 0.00 | 0.00 |
| Due From Subsidiaries | 0.00 | 0.00 | 0.00 |
| Inter corporate deposits | 0.00 | 120.88 | 0.00 |
| Corporate Deposits | 0.00 | 0.00 | 0.00 |
| Other Loans & Advances | 144.31 | 52.45 | 182.34 |
| Total Current Assets | 993.84 | 868.12 | 781.99 |
| Net Current Assets (Including Current Investments) | 563.51 | 400.42 | 328.53 |
| Miscellaneous Expenses not written off | 1.58 | 6.67 | 12.08 |
| Total Assets | 3073.44 | 2901.09 | 2876.90 |
| Contingent Liabilities | 278.35 | 172.76 | 167.79 |
| Total Debt | 704.65 | 573.66 | 625.35 |
| Book Value | 109.83 | 94.68 | 84.42 |
| Adjusted Book Value | 99.10 | 85.43 | 76.18 |