| (Rs. in Million) |
| Particulars | Mar 2006 | Mar 2005 | Mar 2004 |
| EQUITY AND LIABILITIES | 0 | 0 | 0 |
| Share Capital | 147.83 | 147.83 | 82.30 |
| Equity - Authorised | 240.00 | 240.00 | 90.00 |
| Equity - Issued | 142.32 | 142.32 | 82.30 |
| Equity Paid Up | 142.32 | 142.32 | 82.30 |
| Equity Shares Forfeited | 0.00 | 0.00 | 0.00 |
| Adjustments to Equity | 0.00 | 0.00 | 0.00 |
| Preference Capital Paid Up | 5.50 | 5.50 | 0.00 |
| Face Value | 10.00 | 10.00 | 10.00 |
| Share Warrants & Outstandings | 20.09 | 0.00 | 65.53 |
| Total Reserves | 80.34 | 58.40 | 5.55 |
| Securities Premium | 0.00 | 0.00 | 0.00 |
| Capital Reserves | 0.00 | 0.00 | 0.00 |
| Profit & Loss Account Balance | 64.62 | 49.67 | 3.83 |
| General Reserves | 14.00 | 7.00 | 0.00 |
| Other Reserves | 1.72 | 1.72 | 1.72 |
| Reserve excluding Revaluation Reserve | 80.34 | 58.40 | 5.55 |
| Revaluation reserve | 0.00 | 0.00 | 0.00 |
| Shareholder's Funds | 248.26 | 206.22 | 153.38 |
| Minority Interest | 0.00 | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 | 0.00 |
| Secured Loans | 373.78 | 188.41 | 72.05 |
| 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 | 121.99 | 120.86 | 15.66 |
| Term Loans - Institutions | 0.00 | 0.00 | 0.00 |
| Other Secured | 251.79 | 67.55 | 56.38 |
| Unsecured Loans | 130.58 | 103.99 | 1.16 |
| 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 | 130.58 | 98.95 | 0.00 |
| Loans - Govt. | 0.00 | 0.00 | 0.00 |
| Loans - Others | 0.00 | 5.04 | 0.00 |
| Other Unsecured Loan | 0.00 | 0.00 | 1.16 |
| Deferred Tax Assets / Liabilities | 15.67 | 17.24 | 7.00 |
| Deferred Tax Assets | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liability | 15.67 | 17.24 | 7.00 |
| 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 | 520.02 | 309.64 | 80.21 |
| Current Liabilities | 0 | 0 | 0 |
| Trade Payables | 218.84 | 175.90 | 203.79 |
| Sundry Creditors | 218.84 | 175.90 | 203.79 |
| Acceptances | 0.00 | 0.00 | 0.00 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 171.50 | 112.57 | 47.43 |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | 0.00 |
| Advances received from customers | 93.13 | 36.54 | 22.60 |
| Interest Accrued But Not Due | 0.00 | 0.00 | 0.00 |
| 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 | 78.37 | 76.03 | 24.83 |
| 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 | 39.47 | 32.20 | 0.92 |
| Proposed Equity Dividend | 16.87 | 16.20 | 0.00 |
| Provision for Corporate Dividend Tax | 0.00 | 0.00 | 0.00 |
| Provision for Tax | 22.60 | 16.00 | 0.92 |
| 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 | 429.80 | 320.68 | 252.14 |
| Total Liabilities | 752.62 | 498.63 | 226.58 |
| ASSETS | 0 | 0 | 0 |
| Gross Block | 320.00 | 305.40 | 108.42 |
| Less: Accumulated Depreciation | 64.90 | 41.07 | 22.71 |
| Less: Impairment of Assets | 0.00 | 0.00 | 0.00 |
| Net Block | 255.10 | 264.32 | 85.72 |
| Lease Adjustment A/c | 0.00 | 0.00 | 0.00 |
| Capital Work in Progress | 31.78 | 1.73 | 24.06 |
| 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 | 286.88 | 266.05 | 109.77 |
| 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 | 423.27 | 245.32 | 37.39 |
| Raw Materials | 127.39 | 148.40 | 10.76 |
| Work-in Progress | 0.00 | 0.00 | 0.00 |
| Finished Goods | 278.67 | 76.43 | 24.37 |
| Packing Materials | 0.00 | 0.00 | 0.00 |
| Stores and Spare | 0.00 | 0.00 | 0.00 |
| Other Inventory | 17.21 | 20.49 | 2.26 |
| Sundry Debtors | 232.85 | 125.28 | 92.52 |
| Debtors more than Six months | 18.83 | 6.62 | 20.23 |
| Debtors Others | 214.02 | 118.66 | 72.29 |
| Cash and Bank | 30.36 | 4.04 | 28.88 |
| Cash in hand | 5.99 | 3.76 | 1.04 |
| Balances at Bank | 24.37 | 0.28 | 27.84 |
| 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 | 223.35 | 195.76 | 215.94 |
| Advances recoverable in cash or in kind | 124.49 | 147.60 | 150.39 |
| Advance income tax and TDS | 22.32 | 16.07 | 3.26 |
| 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 | 76.54 | 32.10 | 62.29 |
| Total Current Assets | 909.83 | 570.41 | 374.74 |
| Net Current Assets (Including Current Investments) | 480.03 | 249.73 | 122.59 |
| Miscellaneous Expenses not written off | 1.38 | 0.08 | 1.22 |
| Total Assets | 752.62 | 498.63 | 226.58 |
| Contingent Liabilities | 0.00 | 0.00 | 0.00 |
| Total Debt | 504.36 | 292.41 | 73.20 |
| Book Value | 15.55 | 14.10 | 10.53 |
| Adjusted Book Value | 1.55 | 1.41 | 1.05 |