| (Rs.in Million) |
| Particulars | Mar 2003 | Mar 2002 |
| EQUITY AND LIABILITIES | 0 | 0 |
| Share Capital | 97.50 | 102.67 |
| Equity - Authorised | 110.00 | 110.00 |
| Equity - Issued | 97.56 | 102.72 |
| Equity Paid Up | 97.50 | 102.67 |
| Equity Shares Forfeited | 0.00 | 0.00 |
| Adjustments to Equity | 0.00 | 0.00 |
| Preference Capital Paid Up | 0.00 | 0.00 |
| Face Value | 10.00 | 10.00 |
| Share Warrants & Outstandings | 0.00 | 0.00 |
| Total Reserves | 671.02 | 629.39 |
| Securities Premium | 37.93 | 0.00 |
| Capital Reserves | 0.41 | 0.41 |
| Profit & Loss Account Balance | 16.02 | 11.32 |
| General Reserves | 609.96 | 550.11 |
| Other Reserves | 6.70 | 67.55 |
| Reserve excluding Revaluation Reserve | 671.02 | 629.39 |
| Revaluation reserve | 0.00 | 0.00 |
| Shareholder's Funds | 768.52 | 732.05 |
| Minority Interest | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 |
| Secured Loans | 318.95 | 391.19 |
| Non Convertible Debentures | 0.00 | 65.00 |
| Converible Debentures & Bonds | 0.00 | 0.00 |
| Packing Credit - Bank | 0.00 | 0.00 |
| Inter Corporate & Security Deposit | 0.00 | 0.00 |
| Term Loans - Banks | 220.57 | 181.85 |
| Term Loans - Institutions | 0.00 | 0.00 |
| Other Secured | 98.38 | 144.35 |
| Unsecured Loans | 295.21 | 76.58 |
| Fixed Deposits - Public | 52.79 | 0.00 |
| Loans and advances from subsidiaries | 0.00 | 0.00 |
| Inter Corporate Deposits (Unsecured) | 0.00 | 0.00 |
| Foreign Currency Convertible Notes | 0.00 | 0.00 |
| Long Term Loan in Foreign Currency | 32.65 | 0.00 |
| Loans - Banks | 0.00 | 0.00 |
| Loans - Govt. | 0.00 | 0.00 |
| Loans - Others | 0.00 | 13.81 |
| Other Unsecured Loan | 209.77 | 62.77 |
| Deferred Tax Assets / Liabilities | 139.21 | 153.85 |
| Deferred Tax Assets | 0.00 | 0.00 |
| Deferred Tax Liability | 139.21 | 153.85 |
| Other Long Term Liabilities | 0.00 | 0.00 |
| Long Term Trade Payables | 0.00 | 0.00 |
| Long Term Provisions | 0.00 | 0.00 |
| Total Non-Current Liabilities | 753.37 | 621.62 |
| Current Liabilities | 0 | 0 |
| Trade Payables | 289.72 | 210.79 |
| Sundry Creditors | 289.72 | 210.79 |
| Acceptances | 0.00 | 0.00 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 |
| Other Current Liabilities | 61.39 | 76.35 |
| Bank Overdraft / Short term credit | 13.87 | 38.44 |
| Advances received from customers | 0.00 | 2.97 |
| Interest Accrued But Not Due | 4.24 | 9.11 |
| Share Application Money | 0.00 | 0.00 |
| Current maturity of Debentures & Bonds | 0.00 | 0.00 |
| Current maturity - Others | 0.00 | 0.00 |
| Other Liabilities | 43.27 | 25.82 |
| Short Term Borrowings | 0.00 | 0.00 |
| Secured ST Loans repayable on Demands | 0.00 | 0.00 |
| Working Capital Loans- Sec | 0.00 | 0.00 |
| Buyers Credits - Unsec | 0.00 | 0.00 |
| Commercial Borrowings- Unsec | 0.00 | 0.00 |
| Other Unsecured Loans | 0.00 | 0.00 |
| Short Term Provisions | 376.08 | 379.30 |
| Proposed Equity Dividend | 28.60 | 49.95 |
| Provision for Corporate Dividend Tax | 3.66 | 0.00 |
| Provision for Tax | 318.45 | 304.74 |
| Provision for post retirement benefits | 0.00 | 0.00 |
| Preference Dividend | 0.00 | 0.00 |
| Other Provisions | 25.38 | 24.62 |
| Total Current Liabilities | 727.19 | 666.44 |
| Total Liabilities | 2249.07 | 2020.11 |
| ASSETS | 0 | 0 |
| Gross Block | 1325.64 | 1175.77 |
| Less: Accumulated Depreciation | 410.83 | 357.56 |
| Less: Impairment of Assets | 0.00 | 0.00 |
| Net Block | 914.81 | 818.21 |
| Lease Adjustment A/c | 0.00 | 0.00 |
| Capital Work in Progress | 18.35 | 14.74 |
| Non Current Investments | 9.38 | 27.48 |
| Long Term Investment | 9.38 | 27.48 |
| Quoted | 0.00 | 0.00 |
| Unquoted | 10.11 | 28.77 |
| Long Term Loans & Advances | 0.00 | 0.00 |
| Other Non Current Assets | 0.00 | 0.00 |
| Total Non-Current Assets | 942.54 | 860.43 |
| Current Assets Loans & Advances | 0 | 0 |
| Currents Investments | 35.38 | 57.06 |
| Quoted | 0.00 | 0.00 |
| Unquoted | 35.38 | 57.06 |
| Inventories | 462.40 | 411.23 |
| Raw Materials | 185.10 | 155.03 |
| Work-in Progress | 38.50 | 43.12 |
| Finished Goods | 68.81 | 55.38 |
| Packing Materials | 0.00 | 0.00 |
| Stores and Spare | 12.03 | 9.99 |
| Other Inventory | 157.96 | 147.72 |
| Sundry Debtors | 326.83 | 214.96 |
| Debtors more than Six months | 37.80 | 20.31 |
| Debtors Others | 295.31 | 200.32 |
| Cash and Bank | 52.42 | 79.09 |
| Cash in hand | 12.23 | 18.59 |
| Balances at Bank | 40.19 | 60.50 |
| Other cash and bank balances | 0.00 | 0.00 |
| Other Current Assets | 17.31 | 11.20 |
| Interest accrued on Investments | 0.00 | 0.00 |
| Interest accrued on Debentures | 0.00 | 0.00 |
| Deposits with Government | 0.00 | 0.00 |
| Interest accrued and or due on loans | 1.00 | 1.05 |
| Prepaid Expenses | 0.00 | 0.00 |
| Other current_assets | 16.32 | 10.15 |
| Short Term Loans and Advances | 402.18 | 386.11 |
| Advances recoverable in cash or in kind | 31.76 | 32.37 |
| Advance income tax and TDS | 333.30 | 296.53 |
| Amounts due from directors | 0.00 | 0.00 |
| Due From Subsidiaries | 0.00 | 0.00 |
| Inter corporate deposits | 0.00 | 0.00 |
| Corporate Deposits | 0.00 | 0.00 |
| Other Loans & Advances | 37.12 | 57.21 |
| Total Current Assets | 1296.51 | 1159.66 |
| Net Current Assets (Including Current Investments) | 569.33 | 493.22 |
| Miscellaneous Expenses not written off | 10.02 | 0.03 |
| Total Assets | 2249.07 | 2020.11 |
| Contingent Liabilities | 0.00 | 103.21 |
| Total Debt | 614.16 | 467.78 |
| Book Value | 77.79 | 71.30 |
| Adjusted Book Value | 51.86 | 47.54 |