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Introduction Welcome to the new Nelco.

Re-invigorated and rebranded the company that started in 1940 as a revolutionary electronics company (with many firsts to its name) has today reinvented itself from the ground up. We have aligned our businesses and set for ourselves new goals. Nelco is today focused on helping its enterprise & government customers unlock potential by offering solutions in the areas of Integrated Security & Surveillance, VSAT connectivity (Tatanet VSAT), Managed Services, Satcom Projects and Meteorological Solutions. To address the needs of our customers across industry verticals, these solutions are backed by Nelcos values and proven expertise in consulting, customization, system integration, end-to-end management, as well as robust infrastructure and processes. We offer a range of innovative and customized solutions for businesses and government institutions under one roof. We are one of Indias leading VSAT providers and offer powerful and dependable network communications solutions. We are also the preferred partners for the Government, Defense and Enterprise sectors when it comes to security and surveillance in India. From keeping the borders safe to checking pilferage and sabotage at factories, our solutions have been deployed everywhere. We also partner with enterprise and government customers in managing their communication, IT and security and surveillance networks. This frees up the resources of the organizations allowing them to focus on core areas. In addition, we offer end to end networking solutions (Satcom Projects) and maintenance of private hubs and hybrid networks for its customers, from government to corporates. Our innovative turnkey solutions in the meteorological space are meant to meet the entire gamut of requirement of our customers. You can read more about our solutions here. Nelco is a part of the US $ 100.09 billion TATA Group, the tea to telecom behemoth. But bearing the TATA name comes with immense responsibility, which we are aware of. After all, the group is one of Indias most trusted names. It is therefore only imperative then that our values reflect those that millions have come to expect of any TATA company. Read about our guiding values that guides Nelco in its day to functioning.

Company History - Nelco Ltd


1949 - The Company was Incorporated as a public limited company on 28th May. The

Company's object is to manufacture radios, radiogram, radio components, electronic and other engineering products.The Company received technical collaboration from E.K. Cole Ltd. England under an agreement which was entered into in 1948 for a period of twenty years.The products are sold under the trade mark "NELCO". 1950 - Authorised equity capital reduced from Rs.100,00,000 to Rs.80,00,000. Paid up capital reduced by Rs.6,00,000 by writing off Rs.20 per shares. The issued shares were subdivided into fractional certificates of Rs.20 each and later consolidated into shares of Rs.100 each. 6,000 No. of equity shares were issued against payment in cash to M/s. E.K. Cole Ltd., England. 1967 - General Radio & Appliances Ltd., was amalgamated with the Company with effect from 1st January. 1968 - 11,666 No. of equity shares issued to shareholders of General Radio & Appliances Ltd. upon its amalgamation with the Company. 1974 - 20,555 1/3 Right issued at par in prop. 1:3. 1977 - 28,582 rights equity shares issued at par in prop. 3:8. 63,317 shares allotted to schlumberger Ltd. France at par. 1979 - The name of the Company was changed from The National Ekco Radio and Engineering Co. Ltd., to its present one consequent upon the expiry of the collaboration agreement with E.K. Cole Ltd., England. 1980 - The Company received licence to manufacture mini-computer/microprocessor based systems. Some of the engineering support service activities of the Company were shifted from Andheri (Zone II) to TTC Industrial Area (Zone III). For this purpose, the company purchased an existing factory building on a plot of land leased from the MIDC at Vashi. The new facility became fully operational from August 1981.The Company applied for an industrial licence for the manufacture of colour television receivers and video cassette recorders.

1983 - 43,530 rights equity shares issued in the prop. 1:4. 1985 - In February, the Company issued 1,00,000 - 13.5% secured convertible bonds of the aggregate value of Rs.3 crores. Each bond of Rs.300 consisted of two parts, namely, a convertible scrip of Rs.100 and a non-convertible scrip of Rs.200- 93,000 bonds were offered on `Rights basis' to the resident Indian shareholders in the prop. of 7 bonds for every 10 No. of equity shares held. 5,000 bonds were offered to the employees and directors and 2,000 bonds to business associates. At the end of 12 months from the date of allotment, the convertible part of Rs.100 was compulsorily and automatically converted into one fully paid-up equity share at par. The non-convertible portion of Rs.200 per bond would be redeemable at par at the end of 7 years from the date of allotment. The non convertible portion of Rs.2 crores which was due for redemption on 1st March, 1992 was proposed to extend the date of maturity by a period of two years. 1986 - During October, the Company introduced its first color TV receiving set under the brand name "Blue Diamond. In association with Morgan Construction Co. U.S.A., General Electric Co., Australia, the Company executed a contract for supply of Automated Drive Control System for Bar and Rod Mill for TISCO, Jamshedpur. The Company in association with Honeywell, Italy, proposed to manufacture Unix-based computer system based on 68020 Motorola Chip. The Company entered the telecommunications field with the manufacture of Electronic Exchanges (EPABXS) based on indigenous technology developed by C-Dot.1,00,000 No. of equity shares issued on conversion of bonds. 1987 - Several new models of colour television sets were introduced. The Company also developed and launched new models of 14" black and white television sets. Major drives, control and automation systems were successfully commissioned at the TISCO and Durgapur Steel plants. The Durgapur steel plant introduced a Unix-Based Force 20 mini computer system. During Nov./Dec., 3,80,000 rights equity shares issued at par in prop. 6:5 (only 1,25,931 shares taken up). 19,000 No. of equity shares offered at par to employees/workers of the Company (including working directors) on an equitable basis (only 290 shares taken up). 1988 - In-house manufacture of colour television receivers were more than doubled and new models of both colour and black and white TV sets were introduced.1,21,410 rights equity shares (out of 3,80,000 issued in December 1987) allotted.

1989 - The balance 1,32,659 shares out of 1987 rights quota allotted. The balance 18,710 shares not taken by employees were allowed to lapse. 1990 - Turnover at Rs.160 crores registered further growth, mainly due to improved performance in the industrial systems business. The Company's industrial systems division diversified into the area of energy management system for the power industry. A major order was received from one of the power generating companies for the same. 1991 - Industrial systems group and the information technology group registered substantial increase in business but sales and margins in the consumer products continued to decline due to recession in the consumer electronics industry. 1992 - Shares sub-divided on 19th August, 6,00,000 shares allotted to financial institutions in conversion of loans on 28th August. 1993 - Overall sales were reduced due to the demand recession in some of the Company's business and this coupled with the transfer of the UPS division into a new joint venture company with Tata Liebert Ltd. Sales in the Drives and automation area was comparatively lower mainly due to execution of larger turnkey projects.Technology group experienced a marginal reduction in sales in view of the reduced order from DoT on the industry and also due to non-uniform order replacement.During December, 151,58,800 shares of Rs.10 each for cash at par were offered on rights basis to the shareholders of the Company in prop. 2:1 (all were taken up).Simultaneously, 2,93,400 shares were to be offered to employees of the Company (only 80,200 shares taken up). 1994 -152,39,000 shares allotted to shareholders. 1996-Signed a contract with Tata Housing to develop a commercial complex Nelco Plaza at Andheri. Nelco stands to gain close to Rs 100 crore from the project.Enteres into a tie-up with General Electric Company (GE) of the US for the latest knowhow for drive and automation system in the metal industry. 1999 -NATIONAL Radio is dead. Long live Nelco. Replacing its registered name with its brand name recently is only the ostensible face of the change at this 57-year-old Tata company.

2003-Signed a memorandum of understanding to develop, market and sell a range of hi-tech electronics-based systems to the Indian defence forces.Dr. Ravi Gopinath has been appointed director on the Board with effect from August 19, 2003. Mr. K A Mahashur has been reappointed Whole-time Director of the Company designated as Executive Director for 5 years with effect from September 1, 2003.Mr. R R Bhinge as an Additional Director of the Company w.e.f August 29, 2003. 2004-Tatanet Broadband Wireless Pvt Ltd has become subsidiary of the company. Consequently the new name of that company is Tatanet Broadband Wireless Ltd. 2006-Nelco Ltd has appointed Lt. Gen. Davinder Kumar (Retd) as an Additional Director of the Company effective November 17, 2006. 2007-Nelco Ltd has appointed Mr. Prasad R Menon as an Additional Director of the Company effective July 20, 2007.Nelco Ltd has appointed Mr. Shailendra Kumar Gupta as an Additional Director of the Company effective October 23, 2007. 2008-Tatanet Customer Gulf Oil bags SAP ACE 2008 Award 2009-Tatanet, Division of Nelco, Bags ONGC order worth Rs 42 crore for Satellite Connectivity. The Board has recommended dividend of Rs. 0.60 p per share on the Equity Shares of Rs. 10/each. 2010-"Tatanet Partners with Compuware to Deliver World-class Application Performance Management to its Customers".The Company recommended dividend of Rs. 2/- per share (including Re.1/- as dividend) on the equity shares of Rs. 10/- each. 2011-The dividend of Rs. 2/- (including Re 1/- as special dividend) per equity share of Rs. 10/each.Registered Office of the Company has been shifted From Francysters Cybernetics Center, Eucharistic Congress Building no. III, 5, Convent Street, Colaba, Mumbai - 400001 To Nelco Limited MIDC, Plot no. EL 6, TTC Industrial Area, Electronics Zone, Mahape, Navi Mumbai 400710

2012-The Company has recommended a dividend of Rs. 0.5 per equity share of the face value of Rs. 10 each.The Company appointed Mr. P. J. Nath as Manager.The Company appointed Mr. S. K. Gupta as Independent Director of NELCO Ltd.

Objective
What is Risk management? What types of risks a company faces? Do these risks vary with thenature of business? What are the different types of financial risks vis--vis Nelcos risks? How acompanys treasury department manages these risks? What forms part of a companys risk management framework? How important is the credit rating allotted to the bank facilities and what itindicates? These are some of the few questions I which to address through my study of Financial risk management and analysis of Nelcos risk management.

Awarded
Nelco was awarded the Service Provider of the Year 2011 India plaque recently by Gilat Satellite Networks, Israel. Nelco is the leading VSAT service provider in India, and offers its VSAT services to BFSI, manufacturing and other corporate companies under the Tatanet brand. Nelco is currently offering VSAT services based on the proven Gilat Skyedge technology. In the year 2011, Tatanet VSAT services took a leadership position in the enterprise, banking and ATM industry by booking over 9,000 VSATs with greater than 50 percent market share with ATM service providers. Nelco provides highly compelling solutions to the ATM service providers, which include integration of VSAT connectivity as well as video surveillance with managed services through its 24x7 network operations centre at Navi Mumbai.

BOARD OF MEMBERS
Name P R Menon P J Nath B Gopal S Ramakrishnan Name R N Tata P K Ghose R R Bhinge V K Deshpande Designation Chairman Executive Director & CEO Ind. Non-Executive Director Non Exe.Non Ind.Director Designation Chairman Emeritus Ind. Non-Executive Director Ind. Non-Executive Director Non Exe.Non Ind.Director

Product and services


Sales (Rs.) / Unit -

Product Name Income from Services Rendered Network Related Sys.Integraton CCTV System Scanners Network Related Systems UGS/GPS-Assembl.& Equipments Camera Vapour Tracer Others Other Operating Revenue CCTV/BMS System & Spares Global Position Sys. Receivers Income From Property Developme Land-Trading Stock License Fees Data Acq. & Control Systems Data Acq. & Control System-Tra Shelters (System) Shelters Items(Systems) UGS Fencing Equipment Automatic Whether Station(AWS) Integrated Perimeter Alarm Sys Variable Speed Drives-

% Inst. % of Cap. Prod. Sales Sales Unit Stock Util. Cap Prodn Qty (Cr.) 44.7 NA 31.4 0 0 0 0 4 43.1 No 30.3 0 0 0 0 2 No 16.7 0 0 0 0 23.8 10.2 NA 7.2 0 0 0 0 1 NA 6.5 0 0 0 0 9.22 No NA NA NA NA No No NA SqM NA No No No No No No No No No 3.2 2 1.7 0.8 0.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4.57 2.77 2.48 1.19 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Traded Electronic Control Var.Speed Drives-Solid State Convertors Assemblies & Equip. Convertors Auxiliary ConvertorsPower/Auxiliary R.material for Convertors Powe AWS AWS-Traded V-Sat

No No No No No NA No No No

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

Competitors

COMPANY
ADC India Communications Ltd. Aishwarya Telecom Ltd. Astra Microwave Products Ltd. BS Ltd. Eider Technologies Ltd. FCI OEN Connectors Ltd. Gemini Communication Ltd. Goldstone Infratech Ltd. GTL Infrastructure Ltd. GTL Ltd. Himachal Futuristic Communications Ltd. ITI Ltd. Kavveri Telecom Products Ltd. Mobile Telecommunications Ltd. Munoth Communication Ltd. Optiemus Infracom Ltd. Precision Electronics Ltd. Punjab Communications Ltd. S Mobility Ltd. Shyam Telecom Ltd. Valiant Communications Ltd. Webel Communication Industries Ltd. XL Energy Ltd.

SYMBOL
KROCOM AISTEL ASTRMI BSTRAL EIDTEC FCIOEN GEMCOM GOLDTE GTLINF GTLLTD HIMFUT ITILTD KAVTEL MOBTEL MUNCOM AKAFIN PREELE PUNJCO SPIMOB SHYAMT VALICO WEBCOM XLTEL

Financial statement

NELCO Sep '12 -5.83 70.4 4 --8.28 2.73 2.78 4.19 4.19 0.62 0.62 5.97 3.16 6.09 14.2 6 14.2 6 20.7 2 Sep '11 10.00 --1.83 57.74 4.39 --5.6 -11.29 -11.5 -7.9 -7.91 -11.7 -11.58 -14.83 -47.31 -55.7 14.39 14.39 0.87 1.83 2.7 0.07 0.8 2.7 1.78 2.1 -29.99 Sep '10 10.00 --2.49 Sep '09 10.00 -14.62 Mar '08 10.00 -11.79 91.87 1.12 -12.83 9.98 9.98 5.93 5.93 3.86 3.86 17.44 30.47 24.12 11.66 11.66 44.5

Investment Valuation Ratios Face Value Dividend Per Share Operating Profit Per Share (Rs) Net Operating Profit Per Share (Rs) Free Reserves Per Share (Rs) Bonus in Equity Capital Profitability Ratios Operating Profit Margin(%) Profit Before Interest And Tax Margin(%) Gross Profit Margin(%) Cash Profit Margin(%) Adjusted Cash Margin(%) Net Profit Margin(%) Adjusted Net Profit Margin(%) Return On Capital Employed(%) Return On Net Worth(%) Adjusted Return on Net Worth(%) Return on Assets Excluding Revaluations Return on Assets Including Revaluations Return on Long Term Funds(%) Liquidity And Solvency Ratios Current Ratio Quick Ratio Debt Equity Ratio Long Term Debt Equity Ratio Debt Coverage Ratios Interest Cover Total Debt to Owners Fund Financial Charges Coverage Ratio Financial Charges Coverage Ratio Post Tax Management Efficiency Ratios Inventory Turnover Ratio Debtors Turnover Ratio

Profit Loss

and

69.3 158.98 11.2 3.25 ---3.58 -8.01 -8.1 -16.71 -16.71 13.99 13.99 -9.93 46.28 -72.25 21.2 21.2 -22.31 9.19 6 6.04 1.4 1.4 0.9 0.9 19.26 10.91 -20.73 13.25 13.25 58.03

0.91 1.14 1.62 1.62 -1.97 1.62 -0.39

1.05 1.73 1.51 0.12 -0.94 1.51 -0.24 2.94

0.93 1.34 3.08 0.35 1.34 3.08 1.65 1.67

0.9 1.31 2.91 0.53 1.94 2.91 2.03 2.06

7.82 2.11 7.82 1.79

0.05

6.95 1.4

13.68 1.2

13.31 2.83

8.1 2.25

Sep '12 12 mths Income Sales Turnover Excise Duty Net Sales Other Income Stock Adjustments Total Income Expenditure Raw Materials Power & Fuel Cost Employee Cost Other Manufacturing Expenses Selling and Admin Expenses Miscellaneous Expenses Preoperative Exp Capitalised Total Expenses 142.3 3.19 139.11 5.32 0.5 144.93

Sep '11 12 mths 113.5 9 2.26 111.3 3 2.24 5.77 119.3 4

Sep '10 12 mths 143.0 7 3.51 139.5 6 65.04 -8.38 196.2 2

Sep '09 18 mths

Mar '08 12 mths

354.2 3 210.72 13.72 13.15 340.5 1 197.57 14.5 -2.13 5.85 -5.7 360.8 6 189.74 225.9 7 2.06 37.71 9.47 26.61 15.13

75.13 1.76 21.83 0 0 30.74 0 129.46 Sep '12 12 mths

64.74 1.56 23.22 6.15 16 14.92 -1.18 125.4 1 Sep '11 12 mths -8.31 -6.07 8 -14.07 4.77 0 -18.84 1.03 -17.81

70.11 1.53 27.72 7.86 24.45 17.47 -1.06 148.0 8 Sep '10 12 mths -16.9 48.14 15.48 32.66 4.37 1.06 27.23 1.18 28.41

85.62 1.24 24.04 29.18 12.57 14.47

-0.28 0 316.6 7 167.12 Sep Mar '09 '08 18 12 mths mths 29.69 44.19 21.64 22.55 8.33 3.17 11.05 1.04 12.09 24.75 22.62 13.14 9.48 4.36 0.06 5.06 0.87 5.93

Operating Profit PBDIT Interest PBDT Depreciation Other Written Off Profit Before Tax Extra-ordinary items PBT (Post Extra-ord Items)

10.15 15.47 8.81 6.66 5.58 0 1.08 0 1.08

Tax Reported Net Profit Total Value Addition Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised) Shares in issue (lakhs) Earning Per Share (Rs) Equity Dividend (%) Book Value (Rs)

0 1.09 54.33 0 1.14 0.19

-1.25 -16.54 60.67 0 0 0 228.1 7 -7.25 0 11.26

7.03 21.4 77.96 0 4.56 0.76 228.1 7 9.38 20 18.5

8.8 3.28 90.71 0 1.37 0.23

1.49 4.43 81.49 0 0 0

228.17 0.48 5 11.15

228.1 7 228.17 1.44 1.94 6 0 11.46 10.72

Balance sheet statement

Sep '12 12 mths Sources Of Funds Total Share Capital Equity Share Capital Share Application Money Preference Share Capital Reserves Revaluation Reserves Networth Secured Loans Unsecured Loans Total Debt Total Liabilities

Sep '11 12 mths

Sep '10 12 mths

Sep '09 18 mths

Mar '08 12 mths

22.82 22.82 0 0 2.63 0 25.45 8.95 77.85 86.8 112.25 Sep '12 12 mths

22.82 22.82 0 0 2.87 0 25.69 1.96 51.27 53.23 78.92 Sep '11 12 mths

22.82 22.82 0 0 19.4 0 42.22 3.05 69.83 72.88 115.1 Sep '10 12 mths

22.82 22.82 0 0 3.32 0 26.14 20.83 75.45 96.28 122.42 Sep '09 18 mths

22.82 22.82 0 0 1.64 0 24.46 29.56 60.09 89.65 114.11 Mar '08 12 mths

Application Of Funds Gross Block Less: Accum. Depreciation Net Block Capital Work in Progress Investments Inventories Sundry Debtors Cash and Bank Balance Total Current Assets Loans and Advances Fixed Deposits Total CA, Loans & Advances Deffered Credit Current Liabilities

72.05 48.14 23.91 0.08 1.98 20.97 72.74 2.91 96.62 48.21 0 144.83 0 46.85

69.12 42.97 26.15 0.15 1.98 18.96 75.46 4.5 98.92 35.46 0.5 134.88 0 69.23

59.89 39.01 20.88 0.26 1.98 13.98 110.86 4.41 129.25 33.51 0.78 163.54 0 56.52

60.3 38.46 21.84 0.36 1.98 30.45 151.21 9.61 191.27 34.96 5.97 232.2 0 121.59

52.01 31.19 20.82 0.79 4.85 30.07 105.48 9.55 145.1 41.22 3.42 189.74 0 97.02

Provisions Total CL & Provisions

11.7 58.55

15.03 84.26

15.05 71.57

13.42 135.01

9.3 106.32

Dividend
Announcement Date 22-11-12 23-11-10 30-11-09 Effective Date 4/1/2013 7/1/2011 31-12-09 Dividend Type Final Final Final Dividend (%) 5 20 6 Remarks 0.5000 per share(5%)Dividend Rs.1.00 per share(10%)Dividend & Rs.1.00 per share(10%)Special Dividend. -

Quarterly
Dec '12 Dec '12 Sep '12 Net Sales/Income from operations 33.84 Other Operating Income -Total Income From Operations 33.84 EXPENDITURE Consumption of Raw Materials 1.72 Purchase of Traded Goods 11.73 Increase/Decrease in Stocks 2.61 Power & Fuel -Employees Cost 7.07 Depreciation 2.27 Excise Duty -Admin. And Selling Expenses -R & D Expenses -Provisions And Contingencies -Exp. Capitalised -Other Expenses 12.89 P/L Before Other Inc., Int., Excpt. Items & Tax -4.45 Other Income 0.18 P/L Before Int., Excpt. Items & Tax -4.27 Interest 2.63 P/L Before Exceptional Items & Tax -6.9 Exceptional Items -P/L Before Tax -6.9 Tax -0.27 P/L After Tax from Ordinary Activities -6.63 Prior Year Adjustments -Extra Ordinary Items -Net Profit/(Loss) For the Period -6.63 Minority Interest -33.84 -33.84 1.82 11.73 2.61 -7.07 2.27 -----12.79 -4.45 0.18 -4.27 2.63 -6.9 --6.9 -0.27 -6.63 ---6.63 -34.33 0.17 34.5 1.78 9.57 1.94 -5.42 2.25 -----13.49 0.05 1.1 1.15 2.66 -1.51 --1.51 0.01 -1.52 ---1.52 -Mar '12 53.65 -53.65 7.59 19.16 4.24 -5.21 2.19 -----12.64 2.62 0.06 2.68 2.11 0.57 -0.57 0.07 0.5 --0.5 -Dec '11 31.51 0.03 31.54 1 14.26 -4.81 -5.44 2.19 ---0.34 -12.31 0.81 1.5 2.31 1.78 0.53 -0.53 0.09 0.44 --0.44 --

Share Of P/L Of Associates -0.02 Net P/L After M.I & Associates -6.65 Equity Share Capital 22.82 Reserves Excluding Revaluation Reserves -Equity Dividend Rate (%) -EPS Before Extra Ordinary Basic EPS -2.91 Diluted EPS -2.91 EPS After Extra Ordinary Basic EPS -2.91 Diluted EPS -2.91 Public Share Holding No Of Shares (Crores) 1.14 Share Holding (%) 49.9 Promoters and Promoter Group Shareholding a) Pledged/Encumbered - Number of shares (Crores) -- Per. of shares (as a % of the total sh. of prom. and promoter group) - Per. of shares (as a % of the total Share Cap. of the company) b) Non-encumbered - Number of shares (Crores) - Per. of shares (as a % of the total sh. of prom. and promoter group) - Per. of shares (as a % of the total Share Cap. of the company) Notes

-0.02 -6.65 22.82 ------1.14 49.9

-0.01 -1.53 22.82 ---0.67 -0.67 -0.67 -0.67 1.14 49.9

0.11 0.61 22.82 --0.27 0.27 0.27 0.27 1.14 49.9

0.07 0.51 22.82 ---------

--

--

--

--

--1.14

--1.14

--1.14

--1.14

----

100.00 50.10

100.00 50.10

100.00 50.10

100.00 50.10

--|201112

|201212 |201212 |201209 |201203

Assets
Net Current Assets Miscellaneous Expenses Total Assets Contingent Liabilities Book Value (Rs) Dec '12 86.28 0 112.25 16.85 11.15

QUATERLY PERFORMANCE
Dec '12 Net Sales/Income from operations Other Operating Income Total Income From Operations EXPENDITURE Consumption of Raw Materials Purchase of Traded Goods Increase/Decrease in Stocks Power & Fuel Employees Cost Depreciation Excise Duty Admin. And Selling Expenses R & D Expenses Provisions And Contingencies Exp. Capitalised Other Expenses P/L Before Other Inc., Int., Excpt. Items & Tax Other Income P/L Before Int., Excpt. Items & Tax Interest 33.84 -33.84 1.72 11.73 2.61 -7.07 2.27 -----12.89 -4.45 0.18 -4.27 2.63

P/L Before Exceptional Items & Tax Exceptional Items P/L Before Tax Tax P/L After Tax from Ordinary Activities Prior Year Adjustments Extra Ordinary Items Net Profit/(Loss) For the Period Minority Interest Share Of P/L Of Associates Net P/L After M.I & Associates Equity Share Capital Reserves Excluding Revaluation Reserves Equity Dividend Rate (%) EPS Before Extra Ordinary Basic EPS Diluted EPS EPS After Extra Ordinary Basic EPS Diluted EPS Public Share Holding No Of Shares (Crores) Share Holding (%) Promoters and Promoter Group Shareholding a) Pledged/Encumbered - Number of shares (Crores) - Per. of shares (as a % of the total sh. of prom. and promoter group) - Per. of shares (as a % of the total Share Cap. of the company) b) Non-encumbered - Number of shares (Crores) - Per. of shares (as a % of the total sh. of prom. and promoter group) - Per. of shares (as a % of the total Share Cap. of the company)

-6.9 --6.9 -0.27 -6.63 ---6.63 --0.02 -6.65 22.82 ---2.91 -2.91 -2.91 -2.91 1.14 49.9

--

--1.14

100.00 50.10

Notes

|201212

DIVIDEND
Announcement Date 22-11-12 Effective Date 4/1/2013 Dividend Type Final Dividend (%) 5 Remarks 0.5000 per share(5%)Dividend