| (Rs.in Million) |
| Particulars | Mar 2005 | Mar 2004 | Mar 2003 | Mar 2002 |
| EQUITY AND LIABILITIES | 0 | 0 | 0 | 0 |
| Share Capital | 79.29 | 79.29 | 79.29 | 79.29 |
| Equity - Authorised | 85.00 | 85.00 | 85.00 | 85.00 |
| Equity - Issued | 79.47 | 79.47 | 79.47 | 79.47 |
| Equity Paid Up | 79.29 | 79.29 | 79.29 | 79.29 |
| Equity Shares Forfeited | 0.00 | 0.00 | 0.00 | 0.00 |
| Adjustments to Equity | 0.00 | 0.00 | 0.00 | 0.00 |
| Preference Capital Paid Up | 0.00 | 0.00 | 0.00 | 0.00 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 |
| Share Warrants & Outstandings | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Reserves | -756.26 | -550.34 | -360.40 | -223.28 |
| Securities Premium | 316.72 | 316.72 | 316.72 | 316.72 |
| Capital Reserves | 0.50 | 0.50 | 0.50 | 0.50 |
| Profit & Loss Account Balance | -1153.82 | -947.90 | -757.96 | -620.84 |
| General Reserves | 25.34 | 25.34 | 25.34 | 25.34 |
| Other Reserves | 55.00 | 55.00 | 55.00 | 55.00 |
| Reserve excluding Revaluation Reserve | -756.26 | -550.34 | -360.40 | -223.28 |
| Revaluation reserve | 0.00 | 0.00 | 0.00 | 0.00 |
| Shareholder's Funds | -676.97 | -471.05 | -281.10 | -143.99 |
| Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured Loans | 1217.36 | 1088.73 | 961.87 | 881.34 |
| Non Convertible Debentures | 0.00 | 0.00 | 0.00 | 0.00 |
| Converible Debentures & Bonds | 0.00 | 0.00 | 0.00 | 0.00 |
| Packing Credit - Bank | 0.00 | 0.00 | 0.00 | 0.00 |
| Inter Corporate & Security Deposit | 0.00 | 0.00 | 0.00 | 0.00 |
| Term Loans - Banks | 0.00 | 0.00 | 0.00 | 0.00 |
| Term Loans - Institutions | 681.60 | 681.60 | 722.33 | 710.20 |
| Other Secured | 535.76 | 407.13 | 239.53 | 171.13 |
| Unsecured Loans | 32.37 | 31.73 | 19.11 | 18.99 |
| Fixed Deposits - Public | 0.03 | 0.19 | 0.23 | 0.23 |
| Loans and advances from subsidiaries | 0.00 | 0.00 | 0.00 | 0.00 |
| Inter Corporate Deposits (Unsecured) | 0.60 | 0.60 | 0.60 | 0.60 |
| Foreign Currency Convertible Notes | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Loan in Foreign Currency | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans - Banks | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans - Govt. | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans - Others | 19.89 | 19.39 | 6.19 | 5.11 |
| Other Unsecured Loan | 11.85 | 11.55 | 12.10 | 13.05 |
| Deferred Tax Assets / Liabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Tax Assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liability | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Long Term Liabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Trade Payables | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Provisions | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Non-Current Liabilities | 1249.73 | 1120.47 | 980.98 | 900.33 |
| Current Liabilities | 0 | 0 | 0 | 0 |
| Trade Payables | 57.54 | 49.16 | 47.11 | 47.31 |
| Sundry Creditors | 57.54 | 49.16 | 47.11 | 47.31 |
| Acceptances | 0.00 | 0.00 | 0.00 | 0.00 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 197.40 | 161.52 | 144.14 | 133.20 |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | 0.00 | 0.00 |
| Advances received from customers | 5.44 | 5.68 | 5.68 | 5.68 |
| Interest Accrued But Not Due | 0.00 | 0.00 | 0.00 | 0.00 |
| Share Application Money | 0.00 | 0.00 | 0.00 | 0.00 |
| Current maturity of Debentures & Bonds | 0.00 | 0.00 | 0.00 | 0.00 |
| Current maturity - Others | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 191.97 | 155.84 | 138.46 | 127.51 |
| Short Term Borrowings | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured ST Loans repayable on Demands | 0.00 | 0.00 | 0.00 | 0.00 |
| Working Capital Loans- Sec | 0.00 | 0.00 | 0.00 | 0.00 |
| Buyers Credits - Unsec | 0.00 | 0.00 | 0.00 | 0.00 |
| Commercial Borrowings- Unsec | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Unsecured Loans | 0.00 | 0.00 | 0.00 | 0.00 |
| Short Term Provisions | 0.26 | 0.26 | 0.26 | 0.26 |
| Proposed Equity Dividend | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision for Corporate Dividend Tax | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision for Tax | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision for post retirement benefits | 0.00 | 0.00 | 0.00 | 0.00 |
| Preference Dividend | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Provisions | 0.26 | 0.26 | 0.26 | 0.26 |
| Total Current Liabilities | 255.21 | 210.94 | 191.51 | 180.76 |
| Total Liabilities | 827.97 | 860.36 | 891.39 | 937.10 |
| ASSETS | 0 | 0 | 0 | 0 |
| Gross Block | 973.44 | 972.37 | 972.31 | 974.18 |
| Less: Accumulated Depreciation | 530.67 | 489.98 | 448.99 | 407.85 |
| Less: Impairment of Assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Block | 442.77 | 482.39 | 523.32 | 566.33 |
| Lease Adjustment A/c | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Work in Progress | 12.55 | 12.55 | 12.55 | 12.55 |
| Non Current Investments | 21.56 | 21.56 | 21.56 | 21.63 |
| Long Term Investment | 21.56 | 21.56 | 21.56 | 21.63 |
| Quoted | 21.56 | 21.56 | 21.56 | 21.56 |
| Unquoted | 0.00 | 0.00 | 0.00 | 0.07 |
| Long Term Loans & Advances | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Non Current Assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Non-Current Assets | 476.88 | 516.50 | 557.43 | 600.51 |
| Current Assets Loans & Advances | 0 | 0 | 0 | 0 |
| Currents Investments | 0.00 | 0.00 | 0.50 | 0.00 |
| Quoted | 0.00 | 0.00 | 0.00 | 0.00 |
| Unquoted | 0.00 | 0.00 | 0.50 | 0.00 |
| Inventories | 31.63 | 24.50 | 27.09 | 30.13 |
| Raw Materials | 3.62 | 2.34 | 2.62 | 3.09 |
| Work-in Progress | 1.01 | 0.00 | 0.00 | 0.00 |
| Finished Goods | 14.93 | 15.34 | 16.69 | 15.28 |
| Packing Materials | 0.00 | 0.00 | 0.00 | 0.00 |
| Stores and Spare | 3.56 | 5.74 | 5.72 | 5.94 |
| Other Inventory | 8.51 | 1.08 | 2.06 | 5.82 |
| Sundry Debtors | 52.00 | 44.25 | 47.80 | 48.05 |
| Debtors more than Six months | 43.70 | 0.20 | 44.17 | 19.88 |
| Debtors Others | 43.90 | 44.05 | 3.63 | 28.18 |
| Cash and Bank | 4.97 | 14.48 | 5.80 | 6.94 |
| Cash in hand | 0.31 | 0.62 | 1.10 | 1.48 |
| Balances at Bank | 4.66 | 13.86 | 4.70 | 5.45 |
| Other cash and bank balances | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Assets | 33.71 | 33.69 | 0.00 | 0.00 |
| Interest accrued on Investments | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest accrued on Debentures | 0.00 | 0.00 | 0.00 | 0.00 |
| Deposits with Government | 33.71 | 33.69 | 0.00 | 0.00 |
| Interest accrued and or due on loans | 0.00 | 0.00 | 0.00 | 0.00 |
| Prepaid Expenses | 0.00 | 0.00 | 0.00 | 0.00 |
| Other current_assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Short Term Loans and Advances | 228.78 | 226.96 | 252.73 | 251.39 |
| Advances recoverable in cash or in kind | 226.12 | 224.01 | 215.38 | 212.42 |
| Advance income tax and TDS | 0.82 | 0.82 | 0.82 | 2.34 |
| Amounts due from directors | 0.00 | 0.00 | 0.00 | 0.00 |
| Due From Subsidiaries | 0.00 | 0.00 | 0.00 | 0.00 |
| Inter corporate deposits | 0.00 | 0.00 | 0.00 | 0.00 |
| Corporate Deposits | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Loans & Advances | 1.85 | 2.13 | 36.52 | 36.63 |
| Total Current Assets | 351.09 | 343.86 | 333.92 | 336.51 |
| Net Current Assets (Including Current Investments) | 95.88 | 132.92 | 142.41 | 155.74 |
| Miscellaneous Expenses not written off | 0.00 | 0.00 | 0.04 | 0.09 |
| Total Assets | 827.97 | 860.36 | 891.39 | 937.10 |
| Contingent Liabilities | 130.06 | 134.04 | 134.04 | 134.25 |
| Total Debt | 1249.73 | 1120.47 | 980.98 | 900.33 |
| Book Value | -85.37 | -59.40 | -35.46 | -18.17 |
| Adjusted Book Value | -85.37 | -59.40 | -35.46 | -18.17 |