| (Rs.in Million) |
| Particulars | Mar 2004 | Mar 2003 | Mar 2002 |
| EQUITY AND LIABILITIES | 0 | 0 | 0 |
| Share Capital | 2.77 | 2.77 | 2.77 |
| Equity - Authorised | 48.83 | 48.83 | 48.83 |
| Equity - Issued | 1.59 | 1.59 | 1.59 |
| Equity Paid Up | 1.59 | 1.59 | 1.59 |
| Equity Shares Forfeited | 0.00 | 0.00 | 0.00 |
| Adjustments to Equity | 0.00 | 0.00 | 0.00 |
| Preference Capital Paid Up | 1.18 | 1.18 | 1.18 |
| Face Value | 100.00 | 100.00 | 100.00 |
| Share Warrants & Outstandings | 0.00 | 0.00 | 0.00 |
| Total Reserves | 26.22 | 20.12 | 18.09 |
| Securities Premium | 0.03 | 0.03 | 0.03 |
| Capital Reserves | 1.54 | 1.54 | 1.55 |
| Profit & Loss Account Balance | 4.57 | -1.53 | -3.59 |
| General Reserves | 19.33 | 19.33 | 19.33 |
| Other Reserves | 0.75 | 0.75 | 0.77 |
| Reserve excluding Revaluation Reserve | 26.07 | 19.97 | 17.92 |
| Revaluation reserve | 0.15 | 0.15 | 0.17 |
| Shareholder's Funds | 28.99 | 22.89 | 20.85 |
| Minority Interest | 0.00 | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 | 0.00 |
| Secured Loans | 179.41 | 137.66 | 120.42 |
| 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 | 0.00 | 0.00 | 0.00 |
| Term Loans - Institutions | 8.38 | 8.38 | 8.38 |
| Other Secured | 171.03 | 129.28 | 112.04 |
| Unsecured Loans | 22.79 | 13.04 | 16.12 |
| Fixed Deposits - Public | 0.00 | 0.00 | 0.00 |
| 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 | 0.75 |
| Loans - Govt. | 0.00 | 0.00 | 0.00 |
| Loans - Others | 22.79 | 13.04 | 15.37 |
| Other Unsecured Loan | 0.00 | 0.00 | 0.00 |
| Deferred Tax Assets / Liabilities | -32.08 | -34.96 | 0.00 |
| Deferred Tax Assets | 32.77 | 35.36 | 0.00 |
| Deferred Tax Liability | 0.69 | 0.41 | 0.00 |
| 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 | 170.11 | 115.74 | 136.53 |
| Current Liabilities | 0 | 0 | 0 |
| Trade Payables | 89.90 | 86.79 | 77.52 |
| Sundry Creditors | 89.90 | 86.79 | 77.52 |
| Acceptances | 0.00 | 0.00 | 0.00 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 29.11 | 23.14 | 24.56 |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | 0.00 |
| Advances received from customers | 0.78 | 3.13 | 4.41 |
| Interest Accrued But Not Due | 0.70 | 0.10 | 0.27 |
| 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 | 27.63 | 19.91 | 19.88 |
| 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 | 0.00 | 3.00 | 0.00 |
| Proposed Equity Dividend | 0.00 | 0.00 | 0.00 |
| Provision for Corporate Dividend Tax | 0.00 | 0.00 | 0.00 |
| Provision for Tax | 0.00 | 3.00 | 0.00 |
| Provision for post retirement benefits | 0.00 | 0.00 | 0.00 |
| Preference Dividend | 0.00 | 0.00 | 0.00 |
| Other Provisions | 0.00 | 0.00 | 0.00 |
| Total Current Liabilities | 119.01 | 112.93 | 102.08 |
| Total Liabilities | 318.12 | 251.57 | 259.47 |
| ASSETS | 0 | 0 | 0 |
| Gross Block | 163.81 | 172.11 | 171.77 |
| Less: Accumulated Depreciation | 117.83 | 122.79 | 114.40 |
| Less: Impairment of Assets | 0.00 | 0.00 | 0.00 |
| Net Block | 45.98 | 49.33 | 57.36 |
| Lease Adjustment A/c | 0.00 | 0.00 | 0.00 |
| Capital Work in Progress | 2.87 | 3.08 | 3.02 |
| Non Current Investments | 0.00 | 0.00 | 0.00 |
| Long Term Investment | 0.00 | 0.00 | 0.00 |
| Quoted | 0.00 | 0.00 | 0.00 |
| Unquoted | 0.00 | 0.00 | 0.00 |
| Long Term Loans & Advances | 0.00 | 0.00 | 0.00 |
| Other Non Current Assets | 0.00 | 0.00 | 0.00 |
| Total Non-Current Assets | 48.85 | 52.41 | 60.39 |
| Current Assets Loans & Advances | 0 | 0 | 0 |
| Currents Investments | 0.00 | 0.00 | 0.00 |
| Quoted | 0.00 | 0.00 | 0.00 |
| Unquoted | 0.00 | 0.00 | 0.00 |
| Inventories | 241.75 | 164.48 | 146.77 |
| Raw Materials | 0.00 | 0.00 | 0.00 |
| Work-in Progress | 0.24 | 0.91 | 2.83 |
| Finished Goods | 147.16 | 78.34 | 87.89 |
| Packing Materials | 0.00 | 0.00 | 0.00 |
| Stores and Spare | 16.42 | 16.10 | 14.20 |
| Other Inventory | 77.94 | 69.13 | 41.84 |
| Sundry Debtors | 13.63 | 23.19 | 16.59 |
| Debtors more than Six months | 12.45 | 8.19 | 8.69 |
| Debtors Others | 1.18 | 15.01 | 7.90 |
| Cash and Bank | 2.74 | 1.57 | 1.12 |
| Cash in hand | 1.47 | 0.20 | 0.09 |
| Balances at Bank | 1.27 | 1.37 | 1.03 |
| Other cash and bank balances | 0.00 | 0.00 | 0.00 |
| Other Current Assets | 0.00 | 0.00 | 0.00 |
| Interest accrued on Investments | 0.00 | 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 | 0.00 | 0.00 |
| Prepaid Expenses | 0.00 | 0.00 | 0.00 |
| Other current_assets | 0.00 | 0.00 | 0.00 |
| Short Term Loans and Advances | 11.15 | 9.91 | 34.61 |
| Advances recoverable in cash or in kind | 9.74 | 8.45 | 9.43 |
| Advance income tax and TDS | 0.00 | 0.00 | 0.00 |
| Amounts due from directors | 0.00 | 0.00 | 0.00 |
| Due From Subsidiaries | 0.00 | 0.00 | 0.00 |
| Inter corporate deposits | 0.00 | 0.00 | 0.00 |
| Corporate Deposits | 0.00 | 0.00 | 0.00 |
| Other Loans & Advances | 1.42 | 1.46 | 25.17 |
| Total Current Assets | 269.27 | 199.16 | 199.08 |
| Net Current Assets (Including Current Investments) | 150.26 | 86.22 | 97.00 |
| Miscellaneous Expenses not written off | 0.00 | 0.00 | 0.00 |
| Total Assets | 318.12 | 251.57 | 259.47 |
| Contingent Liabilities | 6.06 | 0.00 | 0.00 |
| Total Debt | 202.20 | 150.70 | 136.53 |
| Book Value | 1735.78 | 1353.01 | 1224.07 |
| Adjusted Book Value | 1735.78 | 1353.01 | 1224.07 |