Tube Investments of India

Unaudited financial results for the Quarter Ended 30th June, 2005

Rupees in Crores

	Particulars	Quarter ended		Year ended
		30.06.2005	30.06.2004	31.03.2005
		(Unaudited)	(Unaudited)	(Audited)
1.	Gross sales including Excise duty / Income from operations	410.90	328.72	1563.39
	Less : Excise duty	32.71	26.69	112.84
	Net Sales / Income from operations	378.19	302.03	1450.55
2.	Other Income	1.03	3.11	18.17
	Total Revenue	379.22	305.14	1468.72
3.	Total Expenditure
	a) (Increase) / decrease in Stock in trade	(8.30)	(9.40)	(6.50)
	b) Consumption of Raw Materials	238.53	204.77	888.71
	c) Staff Cost	22.96	15.85	86.27
	d) Other Expenditure	80.35	59.59	320.19
	Total Expenditure	333.54	270.81	1288.67
	Gross Profit	45.68	34.33	180.05
4.	Interest	3.11	3.32	16.06
5.	Depreciation	11.43	8.56	37.81
6.	Net Profit before tax	31.14	22.45	126.18
7.	Provision for Taxation - Current	6.43	7.02	37.00
	- Deferred Tax (Asset) /Liability	0.78	0.49	(9.37)
	- Fringe Benefit Tax	0.52	0.00	0.00
8.	Net Profit	23.41	14.94	98.55
9.	Paid-up equity share capital	36.95	18.47	36.95
	(Equity Shares of Rs.10 each)
10.	Reserves and surplus			411.24
11.	Earnings Per Share - Not Annualised (Rs.)	6.34	4.04	26.67

Notes :

1.	The above results have been approved by the Board of Directors at its meeting held on 29th July, 2005 and have been subjected to a limited review by the Auditors of the Company.
2.	The results of the quarter ended 30th June 2005 include the results of operations of the erstwhile TIDC India Ltd. which amalgamated with the Company pursuant to the sanction of the High court of Madras vide its order dated 30th November 2004.
3.	Earnings per share for the quarter ended 30th June 2004 has been recomputed based on the enhanced share capital.
4.	The Company holds 1,85,22,973 shares in Cholamandalam Investment and Finance Company Ltd., (CIFCL). The Company has entered into an agreement with DBS Bank Ltd,, Singapore (DBS), for the sale of maximum of 94,86,619 Equity shares of CIFCL, representing 25% of CIFCL's Equity Capital at a price of Rs.150 per share. Pursuant to the agreement, the Company will initially sell 57,29,918 shares(15.1%) of CIFCL.
5.	During the quarter, 8 investor complaints were received and resolved. There was no complaint pending both at the beginning and end of the quarter.
6.	Previous periods' figures have been regrouped where necessary

Segment wise revenue, results and capital employed under Clause 41 of the listing agreement

Rupees in Crores

		Quarter ended 30.06.2005	Quarter ended 30.06.2004	Year Ended 31.03.2005 (Audited)
1.	Segment Revenue
	Cycles / Components	128.97	119.69	482.40
	Engineering	199.56	172.70	755.38
	Metal formed Products	62.69	11.26	253.47
	Total	391.22	303.65	1491.25
	Less : Inter Segment revenue	13.03	1.62	40.70
	Net Sales	378.19	302.03	1450.55
2.	Segment Results (Profit(+)/Loss(-) before interest and tax
	Cycles / Components	3.60	2.59	20.52
	Engineering	25.66	22.11	91.66
	Metal formed Products	9.56	2.62	39.47
	Total	38.52	27.32	151.65
	Less :
	Interest	3.11	3.32	16.06
	Other un-allocable expenditure net of un-allocable income	4.57	1.55	9.41
	Total Profit before Tax	31.14	22.45	126.18
3.	Capital Employed (Segment Assets - Segment Liabilities)
	Cycles / Components	112.69	122.28	115.19
	Engineering	264.86	230.78	258.82
	Metal formed Products	127.92	41.22	128.09
	Other un-allocable assets net of un-allocable liabilities	232.05	259.59	237.96
	Total	737.52	653.87	740.06


		for Tube Investments of India Limited
Place : Chennai		Adhiraj Sarin
Dated : 29th July, 2005		Managing Director