| (Rs. in Million) |
| Particulars | Mar 2003 | Mar 2002 |
| EQUITY AND LIABILITIES | 0 | 0 |
| Share Capital | 434.75 | 434.75 |
| Equity - Authorised | 300.00 | 300.00 |
| Equity - Issued | 254.75 | 254.75 |
| Equity Paid Up | 254.75 | 254.75 |
| Equity Shares Forfeited | 0.00 | 0.00 |
| Adjustments to Equity | 0.00 | 0.00 |
| Preference Capital Paid Up | 180.00 | 180.00 |
| Face Value | 10.00 | 10.00 |
| Share Warrants & Outstandings | 0.00 | 0.00 |
| Total Reserves | 3419.20 | 3181.05 |
| Securities Premium | 2816.61 | 2816.58 |
| Capital Reserves | 32.68 | 32.68 |
| Profit & Loss Account Balance | -2004.53 | -1809.18 |
| General Reserves | 2052.08 | 1547.02 |
| Other Reserves | 522.36 | 593.95 |
| Reserve excluding Revaluation Reserve | 3407.01 | 3168.86 |
| Revaluation reserve | 12.19 | 12.19 |
| Shareholder's Funds | 3853.94 | 3615.80 |
| Minority Interest | 217.85 | 233.01 |
| Long-Term Borrowings | 0.00 | 0.00 |
| Secured Loans | 4528.96 | 4376.29 |
| Non Convertible Debentures | 600.00 | 705.24 |
| 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 | 1725.51 | 1207.98 |
| Term Loans - Institutions | 626.74 | 832.76 |
| Other Secured | 1576.72 | 1630.30 |
| Unsecured Loans | 1487.94 | 713.63 |
| Fixed Deposits - Public | 1.21 | 2.03 |
| 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 | 0.00 | 0.00 |
| Loans - Banks | 639.70 | 534.45 |
| Loans - Govt. | 0.00 | 0.00 |
| Loans - Others | 1.33 | 1.15 |
| Other Unsecured Loan | 845.70 | 175.99 |
| Deferred Tax Assets / Liabilities | -270.62 | -177.69 |
| Deferred Tax Assets | 270.62 | 649.91 |
| Deferred Tax Liability | 0.00 | 472.22 |
| 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 | 5746.29 | 4912.23 |
| Current Liabilities | 0 | 0 |
| Trade Payables | 2510.78 | 2248.28 |
| Sundry Creditors | 1868.89 | 1520.97 |
| Acceptances | 641.89 | 727.31 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 |
| Other Current Liabilities | 846.11 | 836.20 |
| Bank Overdraft / Short term credit | 0.97 | 0.29 |
| Advances received from customers | 175.96 | 145.12 |
| Interest Accrued But Not Due | 47.93 | 33.86 |
| 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 | 621.24 | 656.93 |
| 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 | 57.70 | 27.70 |
| Proposed Equity Dividend | 50.95 | 25.48 |
| Provision for Corporate Dividend Tax | 0.00 | 2.23 |
| Provision for Tax | 6.75 | 0.00 |
| Provision for post retirement benefits | 0.00 | 0.00 |
| Preference Dividend | 0.00 | 0.00 |
| Other Provisions | 0.00 | 0.00 |
| Total Current Liabilities | 3414.59 | 3112.18 |
| Total Liabilities | 13232.67 | 11873.21 |
| ASSETS | 0 | 0 |
| Gross Block | 8936.73 | 7504.95 |
| Less: Accumulated Depreciation | 3279.03 | 2524.92 |
| Less: Impairment of Assets | 0.00 | 0.00 |
| Net Block | 5657.71 | 4980.03 |
| Lease Adjustment A/c | 0.00 | 0.00 |
| Capital Work in Progress | 97.52 | 59.43 |
| Non Current Investments | 84.23 | 57.22 |
| Long Term Investment | 84.23 | 57.22 |
| Quoted | 50.11 | 54.23 |
| Unquoted | 74.23 | 48.65 |
| Long Term Loans & Advances | 0.00 | 0.00 |
| Other Non Current Assets | 0.00 | 0.00 |
| Total Non-Current Assets | 5839.46 | 5096.68 |
| Current Assets Loans & Advances | 0 | 0 |
| Currents Investments | 0.00 | 0.00 |
| Quoted | 0.00 | 0.00 |
| Unquoted | 0.00 | 0.00 |
| Inventories | 2374.19 | 1960.56 |
| Raw Materials | 417.50 | 495.23 |
| Work-in Progress | 37.40 | 31.68 |
| Finished Goods | 610.42 | 480.76 |
| Packing Materials | 120.69 | 61.13 |
| Stores and Spare | 116.63 | 67.21 |
| Other Inventory | 1071.55 | 824.57 |
| Sundry Debtors | 2509.89 | 2057.26 |
| Debtors more than Six months | 857.74 | 824.11 |
| Debtors Others | 1774.14 | 1350.84 |
| Cash and Bank | 163.52 | 262.24 |
| Cash in hand | 22.45 | 1.35 |
| Balances at Bank | 141.06 | 247.74 |
| Other cash and bank balances | 0.00 | 13.14 |
| Other Current Assets | 233.00 | 228.93 |
| Interest accrued on Investments | 0.02 | 0.01 |
| Interest accrued on Debentures | 0.00 | 0.00 |
| Deposits with Government | 0.00 | 0.00 |
| Interest accrued and or due on loans | 4.26 | 29.87 |
| Prepaid Expenses | 0.00 | 0.00 |
| Other current_assets | 228.72 | 199.06 |
| Short Term Loans and Advances | 1140.16 | 1477.28 |
| Advances recoverable in cash or in kind | 683.08 | 1089.37 |
| Advance income tax and TDS | 135.23 | 96.34 |
| 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 | 321.85 | 291.57 |
| Total Current Assets | 6420.75 | 5986.27 |
| Net Current Assets (Including Current Investments) | 3006.16 | 2874.09 |
| Miscellaneous Expenses not written off | 972.46 | 790.26 |
| Total Assets | 13232.67 | 11873.21 |
| Contingent Liabilities | 1262.22 | 2117.36 |
| Total Debt | 6016.91 | 5089.91 |
| Book Value | 105.57 | 103.37 |
| Adjusted Book Value | 104.60 | 102.42 |