Particulars Mar 

2010 Mar 2009 Dec 2007 Mar 2007

No of Months 12   15   9   12  
Gross Sales 11276.71   7084.49   3000.79   1970.41  
Less :Inter divisional transfers 0   0   0   0  
Less: Sales Returns 0   0   0   0  
Less: Excise 0   0   0   0.02  
Net Sales 11276.71   7084.49   3000.79   1970.40  
EXPENDITURE :            
Increase/Decrease in Stock -960.49   12.03   -40.06   -88.48  
Raw Materials Consumed 8657.45   5529.48   2291.87   1743.04  
Power & Fuel Cost 0.81   0.17   0.31   0.49  
Employee Cost 118.69   125.58   41.91   62.52  
Other Manufacturing Expenses 66.98   49.23   22.26   23.66  
General and Administration Expenses 552.97   323.93   136.34   73.79  
Selling and Distribution Expenses 1801.53   985.12   396.65   184.04  
Miscellaneous Expenses 30.42   71.51   19.14   35.12  
Expenses Capitalised 0   0   0   0  
Total Expenditure 10268.36   7097.04   2868.41   2034.16  
PBIDT (Excl OI) 1008.35   -12.56   132.38   -63.77  
Other Income 85.13   62.25   66.10   136.10  
Operating Profit 1093.49   49.70   198.48   72.33  
Interest 10.74   26.83   7.99   23.07  
PBDT 1082.75   22.87   190.49   49.26  
Depreciation 10.76   7.21   2.79   4.77  
Profit Before Taxation & Exceptional Items 1071.99   15.67   187.70   44.49  
Exceptional Income / Expenses 0   0   0   0  
Profit Before Tax 1071.99   15.67   187.70   44.49  
Provision for Tax 366.91   5.41   40.96   20.63  
PAT 705.08   10.26   146.73   23.86  
Extraordinary Items 0   0   0   0  
Adj to Profit After Tax 0   0   0   0  
Profit Balance B/F 170.02   183.34   83.24   85.57  
Appropriations 875.10   193.60   229.97   109.43  
Equity Dividend (%) 50.00   9.00   15.00   10.00  
Earnings Per Share (Rs.) 9.45   0.14   1.97   0.32  
Book Value (Rs.) 17.97   10.28   10.45   9.01  

(Rs. in Million)
Particulars Mar 2010 Mar 2009 Dec 2007 Mar 2007
SOURCES OF FUNDS            
Share Capital 223.91   223.91   223.91   223.91  
Share warrants & Outstandings 0.00   0.00   0.00   0.00  
Total Reserve 1117.16   543.06   556.38   448.95  
Shareholder's Funds 1341.07   766.97   780.29   672.86  
Secured Loans 0   17.20   20.51   64.15  
Unsecured Loans 0   0.01   0   0  
Total Debts 0   17.21   20.51   64.15  
Total Liabilities 1341.07   784.18   800.80   737.01  
APPLICATION OF FUNDS :            
Gross Block 110.91   70.60   56.74   60.61  
Less: Accumulated Depreciation 29.93   20.57   18.57   19.31  
Less: Impairment of Assets 0   0   0   0  
Net Block 80.99   50.03   38.17   41.30  
Lease Adjustment A/c 0   0   0   0  
Capital Work in Progress 0   0.50   0   0  
Pre-operative Expenses pending 0   0   0   0  
Assets in transit 0   0   0   0  
Investments 220.82   100.82   100.82   0.05  
Current Assets, Loans & Advances            
Inventories 1196.69   250.33   249.22   236.80  
Sundry Debtors 1042.08   518.58   381.47   279.41  
Cash and Bank 1239.17   559.94   447.63   283.33  
Other Current Assets 45.23   22.48   16.81   12.51  
Loans and Advances 751.54   279.54   327.71   252.07  
Total Current Assets 4274.70   1630.88   1422.84   1064.12  
Less : Current Liabilities and Provisions            
Current Liabilities 2483.96   869.19   632.41   315.82  
Provisions 750.89   134.57   126.97   52.63  
Total Current Liabilities 3234.85   1003.76   759.38   368.45  
Net Current Assets 1039.85   627.11   663.46   695.66  
Miscellaneous Expenses not written off 0   0   0   0  
Deferred Tax Assets / Liabilities -0.59   5.73   -1.65   0  
Total Assets 1341.07   784.18   800.80   737.01  
Contingent Liabilities 71.91   74.65   24.25   23.07  

Particulars Mar 2010 Mar 2009 Dec 2007 Mar 2007

Operational & Financial Ratios            
   Earnings Per Share (Rs) 9.45   0.14   1.97   0.32  
   CEPS(Rs) 9.59   0.23   2.00   0.38  
   DPS(Rs) 1.50   0.27   0.45   0.30  
   Book NAV/Share(Rs) 17.97   10.28   10.45   9.01  
   Tax Rate(%) 34.23   34.51   21.82   46.36  
Margin Ratios            
   Core EBITDA Margin(%) 8.94   -0.18   4.41   -3.24  
   EBIT Margin(%) 9.60   0.60   6.52   3.43  
   Pre Tax Margin(%) 9.51   0.22   6.25   2.26  
   PAT Margin (%) 6.25   0.14   4.89   1.21  
   Cash Profit Margin (%) 6.35   0.25   4.98   1.45  
Performance Ratios            
   ROA(%) 66.35   1.29   19.08   4.27  
   ROE(%) 66.89   1.33   20.20   4.86  
   ROCE(%) 101.89   5.36   25.45   12.09  
   Asset Turnover(x) 10.61   8.94   3.90   3.53  
   Sales/Fixed Asset(x) 124.25   111.27   51.14   28.77  
   Working Capital/Sales(x) 10.84   11.30   4.52   2.83  
Efficiency Ratios            
   Fixed Capital/Sales(x) 0.01   0.01   0.02   0.03  
   Receivable days 25.26   23.19   40.19   47.20  
   Inventory Days 23.42   12.87   29.56   38.24  
   Payable days 55.84   37.97   57.04   49.11  
Valuation Parameters            
   PER(x) 3.88   72.00   14.65   29.71  
   PCE(x) 3.83   42.31   14.38   24.76  
   Price/Book(x) 2.04   0.96   2.75   1.05  
   Yield(%) 4.09   2.73   1.56   3.16  
   EV/Net Sales(x) 0.13   0.03   0.57   0.25  
   EV/Core EBITDA(x) 1.37   3.95   8.68   6.77  
   EV/EBIT(x) 1.39   4.62   8.80   7.25  
   EV/CE(x) 1.12   0.25   2.15   0.66  
   M Cap / Sales 0.24   0.10   0.72   0.36  
Growth Ratio            
   Net Sales Growth(%) 59.17   136.09   52.29   68.59  
   Core EBITDA Growth(%) 2100.31   -74.96   174.40   29.36  
   EBIT Growth(%) 2448.14   -78.29   189.63   28.50  
   PAT Growth(%) 6772.14   -93.01   514.87   -42.79  
   EPS Growth(%) 6770.33   -93.01   514.87   -71.40  
Financial Stability Ratios            
   Total Debt/Equity(x) 0.01   0.02   0.03   0.14  
   Current Ratio(x) 1.72   1.88   2.25   3.37  
   Quick Ratio(x) 1.24   1.59   1.86   2.62  
   Interest Cover(x) 100.85   1.58   24.49   2.93  
   Total Debt/Mcap(x) 0.00   0.02   0.01   0.09  
Bid Open 25-Jun-07
Bid Close 27-Jun-07
Price Band Rs.41/- to Rs.46/-
Issue 113111111
Employees 2000000
Net Issue 111111111
Qualified Institutional Buyers 66666667
Non Institutional Portion 11111111
Retail Portion 33333333
Equity Shares Outstanding prior Issue 576813889
Equity Shares Outstanding post Issue 689925000

Fully diluted post issue paid up Equity Capital 16.39%