| (Rs.in Million) |
| Particulars | Mar 2005 | Jun 2004 | Jun 2003 | Mar 2002 |
| EQUITY AND LIABILITIES | 0 | 0 | 0 | 0 |
| Share Capital | 60.00 | 60.00 | 60.00 | 50.00 |
| Equity - Authorised | 100.00 | 100.00 | 102.00 | 102.00 |
| Equity - Issued | 55.00 | 55.00 | 55.00 | 50.00 |
| Equity Paid Up | 55.00 | 55.00 | 55.00 | 50.00 |
| 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 | 5.00 | 5.00 | 5.00 | 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 | -448.90 | -333.33 | -192.99 | -29.99 |
| Securities Premium | 60.00 | 60.00 | 60.00 | 60.00 |
| Capital Reserves | 8.76 | 8.76 | 8.76 | 6.92 |
| Profit & Loss Account Balance | -626.34 | -510.77 | -370.43 | -205.50 |
| General Reserves | 108.68 | 108.68 | 78.68 | 78.59 |
| Other Reserves | 0.00 | 0.00 | 30.00 | 30.00 |
| Reserve excluding Revaluation Reserve | -448.90 | -333.33 | -192.99 | -29.99 |
| Revaluation reserve | 0.00 | 0.00 | 0.00 | 0.00 |
| Shareholder's Funds | -388.90 | -273.33 | -132.99 | 20.01 |
| Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured Loans | 912.21 | 858.15 | 853.96 | 768.88 |
| Non Convertible Debentures | 2.00 | 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 | 638.67 | 473.44 |
| Term Loans - Institutions | 730.88 | 688.83 | 0.00 | 0.00 |
| Other Secured | 179.33 | 169.33 | 215.29 | 295.45 |
| Unsecured Loans | 79.54 | 71.23 | 68.19 | 66.43 |
| Fixed Deposits - Public | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans and advances from subsidiaries | 0.00 | 0.00 | 0.00 | 0.00 |
| Inter Corporate Deposits (Unsecured) | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Unsecured Loan | 79.54 | 71.23 | 68.19 | 66.43 |
| Deferred Tax Assets / Liabilities | -1.44 | -1.43 | -1.44 | -1.37 |
| Deferred Tax Assets | 1.47 | 1.47 | 1.47 | 1.47 |
| Deferred Tax Liability | 0.04 | 0.04 | 0.03 | 0.10 |
| 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 | 990.32 | 927.95 | 920.71 | 833.94 |
| Current Liabilities | 0 | 0 | 0 | 0 |
| Trade Payables | 107.56 | 142.39 | 108.28 | 106.01 |
| Sundry Creditors | 107.56 | 142.39 | 108.28 | 106.01 |
| 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 | 12.10 | 13.29 | 8.11 | 0.97 |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | 0.00 | 0.00 |
| Advances received from customers | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Accrued But Not Due | 12.05 | 13.22 | 8.03 | 0.93 |
| 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 | 0.06 | 0.07 | 0.08 | 0.04 |
| 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 | 0.00 | 0.02 | 0.04 | 0.02 |
| 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 | 0.02 | 0.04 | 0.02 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Liabilities | 119.67 | 155.71 | 116.43 | 107.00 |
| Total Liabilities | 721.08 | 810.33 | 904.15 | 960.95 |
| ASSETS | 0 | 0 | 0 | 0 |
| Gross Block | 978.25 | 958.66 | 945.15 | 928.40 |
| Less: Accumulated Depreciation | 419.22 | 384.79 | 344.94 | 293.04 |
| Less: Impairment of Assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Block | 559.03 | 573.86 | 600.21 | 635.36 |
| Lease Adjustment A/c | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Work in Progress | 2.70 | 0.17 | 19.07 | 19.64 |
| Non Current Investments | 4.39 | 4.39 | 5.47 | 5.47 |
| Long Term Investment | 4.39 | 4.39 | 5.47 | 5.47 |
| Quoted | 2.00 | 2.00 | 2.00 | 2.00 |
| Unquoted | 2.39 | 2.39 | 3.47 | 3.47 |
| 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 | 566.12 | 578.42 | 624.75 | 660.46 |
| Current Assets Loans & Advances | 0 | 0 | 0 | 0 |
| Currents Investments | 0.00 | 0.00 | 0.00 | 0.00 |
| Quoted | 0.00 | 0.00 | 0.00 | 0.00 |
| Unquoted | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 79.81 | 122.66 | 132.32 | 114.38 |
| Raw Materials | 23.39 | 11.48 | 27.98 | 19.37 |
| Work-in Progress | 7.34 | 14.92 | 14.98 | 13.08 |
| Finished Goods | 27.74 | 76.98 | 66.87 | 60.09 |
| Packing Materials | 0.00 | 0.00 | 0.00 | 0.00 |
| Stores and Spare | 16.62 | 15.16 | 18.25 | 20.27 |
| Other Inventory | 4.73 | 4.12 | 4.25 | 1.56 |
| Sundry Debtors | 29.33 | 38.53 | 95.46 | 88.58 |
| Debtors more than Six months | 25.72 | 34.83 | 47.97 | 36.96 |
| Debtors Others | 11.46 | 11.65 | 53.42 | 57.56 |
| Cash and Bank | 7.87 | 8.99 | 8.73 | 30.43 |
| Cash in hand | 0.22 | 0.23 | 0.10 | 0.34 |
| Balances at Bank | 6.54 | 8.75 | 4.56 | 26.39 |
| Other cash and bank balances | 1.11 | 0.00 | 4.08 | 3.70 |
| Other Current Assets | 5.02 | 4.99 | 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 | 5.02 | 4.99 | 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 | 32.94 | 56.74 | 42.87 | 67.08 |
| Advances recoverable in cash or in kind | 24.77 | 53.23 | 31.10 | 54.79 |
| Advance income tax and TDS | 1.08 | 0.23 | 1.57 | 1.93 |
| 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 | 7.09 | 3.29 | 10.21 | 10.37 |
| Total Current Assets | 154.97 | 231.91 | 279.39 | 300.47 |
| Net Current Assets (Including Current Investments) | 35.30 | 76.20 | 162.96 | 193.48 |
| Miscellaneous Expenses not written off | 0.00 | 0.00 | 0.01 | 0.01 |
| Total Assets | 721.08 | 810.33 | 904.15 | 960.95 |
| Contingent Liabilities | 530.98 | 543.51 | 562.01 | 581.22 |
| Total Debt | 991.75 | 929.38 | 922.15 | 835.31 |
| Book Value | -71.62 | -50.61 | -25.09 | 4.00 |
| Adjusted Book Value | -71.62 | -50.61 | -25.09 | 4.00 |