| (Rs. in Millions) |
| Particulars | Sep 2004 | Jun 2003 | Jun 2002 | Dec 2000 | Jun 1999 |
| EQUITY AND LIABILITIES | 0 | 0 | 0 | 0 | 0 |
| Share Capital | 302.75 | 302.75 | 302.75 | 305.50 | 202.50 |
| Equity - Authorised | 750.00 | 750.00 | 750.00 | 500.00 | 500.00 |
| Equity - Issued | 472.75 | 472.75 | 472.75 | 332.50 | 202.50 |
| Equity Paid Up | 302.75 | 302.75 | 302.75 | 305.50 | 202.50 |
| Equity Shares Forfeited | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Adjustments to Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preference Capital Paid Up | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Share Warrants & Outstandings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Reserves | -132.96 | 1521.43 | 3445.84 | 4858.98 | 736.67 |
| Securities Premium | 2951.76 | 2951.76 | 2951.76 | 2945.56 | 0.00 |
| Capital Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit & Loss Account Balance | -3088.15 | -1433.76 | 53.60 | 1475.95 | 499.19 |
| General Reserves | 0.00 | 0.00 | 437.06 | 434.06 | 234.06 |
| Other Reserves | 3.43 | 3.43 | 3.43 | 3.43 | 3.43 |
| Reserve excluding Revaluation Reserve | -132.96 | 1521.43 | 3445.84 | 4858.98 | 736.67 |
| Revaluation reserve | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shareholder's Funds | 169.79 | 1824.18 | 3748.59 | 5164.48 | 939.17 |
| Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured Loans | 746.97 | 778.87 | 764.15 | 343.34 | 1620.88 |
| Non Convertible Debentures | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Converible Debentures & Bonds | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Packing Credit - Bank | 318.57 | 378.57 | 401.13 | 0.00 | 80.86 |
| Inter Corporate & Security Deposit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Term Loans - Banks | 0.00 | 0.00 | 0.00 | 0.00 | 236.51 |
| Term Loans - Institutions | 428.40 | 400.30 | 363.02 | 343.34 | 950.59 |
| Other Secured | 0.00 | 0.00 | 0.00 | 0.00 | 352.92 |
| Unsecured Loans | 100.00 | 100.00 | 108.66 | 0.00 | 23.00 |
| Fixed Deposits - Public | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans and advances from subsidiaries | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inter Corporate Deposits (Unsecured) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign Currency Convertible Notes | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Loan in Foreign Currency | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans - Banks | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans - Govt. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Loans - Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Unsecured Loan | 100.00 | 100.00 | 108.66 | 0.00 | 23.00 |
| Deferred Tax Assets / Liabilities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Tax Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liability | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Long Term Liabilities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Trade Payables | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Provisions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Non-Current Liabilities | 846.97 | 878.87 | 872.81 | 343.34 | 1643.88 |
| Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 87.35 | 117.70 | 80.63 | 61.02 | 106.23 |
| Sundry Creditors | 87.35 | 117.70 | 80.63 | 61.02 | 106.23 |
| Acceptances | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 71.88 | 95.66 | 159.03 | 153.36 | 98.05 |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Advances received from customers | 0.00 | 0.06 | 1.33 | 4.92 | 3.58 |
| Interest Accrued But Not Due | 0.00 | 0.00 | 14.88 | 12.84 | 50.49 |
| Share Application Money | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Current maturity of Debentures & Bonds | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Current maturity - Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 71.88 | 95.59 | 142.82 | 135.60 | 43.98 |
| Short Term Borrowings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured ST Loans repayable on Demands | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Working Capital Loans- Sec | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Buyers Credits - Unsec | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Commercial Borrowings- Unsec | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Unsecured Loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Short Term Provisions | 0.00 | 1.59 | 5.33 | 54.46 | 51.34 |
| Proposed Equity Dividend | 0.00 | 0.00 | 0.00 | 40.60 | 40.50 |
| Provision for Corporate Dividend Tax | 0.00 | 0.00 | 0.00 | 9.18 | 4.46 |
| Provision for Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision for post retirement benefits | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preference Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Provisions | 0.00 | 1.59 | 5.33 | 4.69 | 6.38 |
| Total Current Liabilities | 159.23 | 214.95 | 244.99 | 268.84 | 255.62 |
| Total Liabilities | 1175.99 | 2918.00 | 4866.39 | 5776.66 | 2838.67 |
| ASSETS | 0 | 0 | 0 | 0 | 0 |
| Gross Block | 4485.08 | 4494.19 | 4511.24 | 3330.55 | 1831.12 |
| Less: Accumulated Depreciation | 3856.38 | 3245.18 | 2602.95 | 1476.62 | 735.13 |
| Less: Impairment of Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Block | 628.70 | 1249.02 | 1908.29 | 1853.93 | 1095.99 |
| Lease Adjustment A/c | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Work in Progress | 1.45 | 1.45 | 1.47 | 15.86 | 0.00 |
| Non Current Investments | 398.10 | 1357.15 | 2245.15 | 1.27 | 1.27 |
| Long Term Investment | 398.10 | 1357.15 | 2245.15 | 1.27 | 1.27 |
| Quoted | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unquoted | 2947.15 | 3007.15 | 2947.15 | 1.27 | 1.27 |
| Long Term Loans & Advances | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Non Current Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Non-Current Assets | 1028.24 | 2607.61 | 4154.91 | 1871.06 | 1097.27 |
| Current Assets Loans & Advances | 0 | 0 | 0 | 0 | 0 |
| Currents Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Quoted | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unquoted | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 9.28 | 7.89 |
| Raw Materials | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Work-in Progress | 0.00 | 0.00 | 0.00 | 9.28 | 7.89 |
| Finished Goods | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Packing Materials | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stores and Spare | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Inventory | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry Debtors | 12.13 | 72.23 | 530.38 | 1332.45 | 877.78 |
| Debtors more than Six months | 486.73 | 470.92 | 75.71 | 7.96 | 154.90 |
| Debtors Others | 9.81 | 22.58 | 454.67 | 1324.48 | 723.41 |
| Cash and Bank | 9.33 | 11.84 | 16.59 | 2206.33 | 23.14 |
| Cash in hand | 0.10 | 0.69 | 0.28 | 0.13 | 0.06 |
| Balances at Bank | 9.22 | 11.15 | 16.31 | 2206.20 | 23.08 |
| Other cash and bank balances | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.32 |
| Interest accrued on Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest accrued on Debentures | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deposits with Government | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest accrued and or due on loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Prepaid Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other current_assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.32 |
| Short Term Loans and Advances | 126.29 | 226.31 | 164.51 | 357.54 | 832.28 |
| Advances recoverable in cash or in kind | 95.95 | 188.84 | 127.59 | 352.02 | 751.88 |
| Advance income tax and TDS | 37.47 | 37.47 | 36.93 | 6.16 | 0.00 |
| Amounts due from directors | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Due From Subsidiaries | 0.00 | 0.00 | 0.00 | 0.00 | 81.80 |
| Inter corporate deposits | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Corporate Deposits | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Loans & Advances | -7.13 | 0.00 | 0.00 | -0.63 | -1.40 |
| Total Current Assets | 147.74 | 310.39 | 711.48 | 3905.60 | 1741.40 |
| Net Current Assets (Including Current Investments) | -11.49 | 95.44 | 466.49 | 3636.76 | 1485.79 |
| Miscellaneous Expenses not written off | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Assets | 1175.99 | 2918.00 | 4866.39 | 5776.66 | 2838.67 |
| Contingent Liabilities | 292.35 | 213.57 | 233.58 | 325.58 | 735.19 |
| Total Debt | 846.97 | 878.87 | 872.81 | 343.34 | 1643.88 |
| Book Value | 5.61 | 60.25 | 123.82 | 169.05 | 46.38 |
| Adjusted Book Value | 5.61 | 60.25 | 123.82 | 169.05 | 46.38 |