Standalone

Consolidated

Quarter ended

Half Year ended

Year ended

Quarter ended

Half Year ended

Year ended

30.09.2007

30.09.2006

30.09.2007

30.09.2006

31.03.2007

30.09.2007

30.09.2006

30.09.2007

30.09.2006

31.03.2007

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

1.

Net Sales / Income from Operations

424.64

414.33

857.86

795.85

1615.04

555.25

477.77

1095.93

904.34

1878.49

2.

Other Income

9.00

9.74

12.10

10.90

21.05

8.98

8.16

17.70

12.81

32.09

3.

Total Revenue { 1 + 2 }

433.64

424.07

869.96

806.75

1636.09

564.23

485.93

1113.63

917.15

1910.58

4.

Expenditure

a) Decrease / (Increase) in Stock in Trade and Work In Progress

(5.44)

11.29

(26.90)

(12.14)

(13.82)

(5.77)

11.10

(26.97)

(12.12)

(13.84)

b) Consumption of Raw Materials (Net)

262.54

229.73

549.14

469.39

956.27

263.91

231.20

550.62

470.59

957.41

c) Purchase of Traded Goods

4.00

2.93

9.31

6.98

20.45

4.00

2.93

9.31

6.98

20.45

d) Employee Cost

33.79

30.55

65.08

58.03

115.07

54.07

41.51

102.72

78.44

161.55

e) Depreciation

12.39

12.54

25.02

26.27

50.39

15.55

14.01

29.85

29.07

56.42

f) Other Expenditure

101.04

96.68

197.39

187.45

372.82

173.69

130.50

326.20

244.78

512.37

g) Total

408.32

383.72

819.04

735.98

1501.18

505.45

431.25

991.73

817.74

1694.36

5.

Profit Before Interest, Tax and Exceptional Items { 3 - 4 }

25.32

40.35

50.92

70.77

134.91

58.78

54.68

121.90

99.41

216.22

6.

Interest

4.15

2.93

8.08

6.00

11.29

31.60

14.81

59.51

27.86

69.74

7.

Exceptional Items

a) Profit on Sale of Long Term Investments

0.00

0.00

0.00

71.30

71.30

0.00

0.00

0.00

71.30

71.30

b) Profit on Sale of Land and Buildings

0.00

0.00

0.00

0.00

0.39

0.00

0.00

0.00

0.39

8.

Profit Before Tax { 5 - 6 + 7 }

21.17

37.42

42.84

136.07

195.31

27.18

39.87

62.39

142.85

218.17

9.

Tax expense (including Deferred Tax and Fringe Benefit Tax)

5.45

11.05

13.03

20.24

39.53

9.26

12.10

21.06

22.15

46.58

10.

Profit After Tax { 8 - 9 }

15.72

26.37

29.81

115.83

155.78

17.92

27.77

41.33

120.70

171.59

Less : Minority Interest

(0.50)

(1.63)

(2.42)

(2.15)

(3.24)

11.

Net Profit

15.72

26.37

29.81

115.83

155.78

17.42

26.14

38.91

118.55

168.35

12.

Paid-up Equity Share Capital (Face Value of Rs. 2 Each)

36.95

36.95

36.95

36.95

36.95

36.95

36.95

36.95

36.95

36.95

13.

Reserves and Surplus

618.90

654.13

14.

Basic and Diluted Earnings Per Share (in Rs.) - Not Annualised

0.85

1.43

1.61

6.27

8.43

0.94

1.41

2.11

6.42

9.11

15.

Aggregate of Public Shareholding

Number of Shares

84290670

89130705

84290670

84290670

89130705

84290670

% of Shareholding

45.62%

48.24%

45.62%

45.62%

48.24%

45.62%

The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 31st October, 2007.

The Statutory Auditors of the Company have carried out a Limited Review of the Unaudited Standalone and the Unaudited Consolidated Financial Results for the quarter and half year ended 30th September, 2007. The Unaudited Consolidated Financial Results for the quarter and half year ended 30th September, 2006 have not been subjected to Limited Review by the Statutory Auditors.

The Compensation and Nomination Committee, at its meeting held on 31st October, 2007, approved the grant of 6,00,120 Stock Options to certain employees of the Company. The Options would vest after the expiry of one year from the date of grant, subject to the terms of the grant. Each Option is exercisable for 1 Equity Share of face value of Rs. 2 each fully paid up on payment of the exercise price of Rs. 62.85, being the closing price of the share on the National Stock Exchange on 30th October, 2007.

There was 1 complaint outstanding at the beginning of the period and the same was resolved during the quarter. During the quarter, the Company received 5 investor complaints, out of which 4 were resolved and 1 was unresolved as at 30th September, 2007.

Previous periods' figures have been regrouped where necessary.

Standalone

Consolidated

Quarter ended

Half Year ended

Year ended

Quarter ended

Half Year ended

Year ended

30.09.2007

30.09.2006

30.09.2007

30.09.2006

31.03.2007

30.09.2007

30.09.2006

30.09.2007

30.09.2006

31.03.2007

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

1

Segment Revenue

Cycles / Components

130.06

134.85

280.35

259.44

511.13

130.06

134.85

280.35

259.44

511.13

Engineering

225.25

211.31

441.35

402.82

829.77

225.25

211.31

441.35

402.82

829.77

Metal Formed Products

86.34

81.49

168.58

156.55

324.87

88.12

82.06

172.16

159.36

330.96

Insurance

56.32

35.82

110.16

60.72

127.28

Other Financial Services

70.08

26.81

124.09

47.74

134.54

Others

0.44

0.34

0.82

0.58

1.35

Total

441.65

427.65

890.28

818.81

1665.77

570.27

491.19

1128.93

930.66

1935.03

Less : Inter Segment Revenue

17.01

13.32

32.42

22.96

50.73

15.02

13.42

33.00

26.32

56.54

Net Sales

424.64

414.33

857.86

795.85

1615.04

555.25

477.77

1095.93

904.34

1878.49

2

Segment Results (Profit before Interest and Tax from each Segment)

Cycles / Components

4.70

5.98

11.52

9.00

19.35

4.70

5.98

11.52

9.00

19.35

Engineering

9.76

22.09

24.17

44.64

82.29

9.76

22.09

24.17

44.64

82.29

Metal Formed Products

11.61

12.02

22.32

24.37

55.28

11.77

12.06

22.75

24.47

55.82

Insurance

2.50

6.31

12.50

8.51

13.78

Other Financial Services

35.43

13.74

62.59

25.72

14.09

Others

0.07

0.11

0.16

0.18

0.32

Total

26.07

40.09

58.01

78.01

156.92

64.23

60.29

133.69

112.52

185.65

Less :

Interest

4.15

2.93

8.08

6.00

11.29

31.60

14.81

59.51

27.86

69.74

Other Un-allocable Expenditure Net of Un-allocable Income

0.75

(0.26)

7.09

(64.06)

(49.68)

5.45

5.61

11.79

(58.19)

(102.26)

Net Profit before Tax

21.17

37.42

42.84

136.07

195.31

27.18

39.87

62.39

142.85

218.17

3

Capital Employed (Segment Assets - Segment Liabilities)

Cycles / Components

86.54

77.91

97.43

86.54

77.91

97.43

Engineering

391.12

339.58

349.95

401.01

339.58

362.35

Metal Formed Products

226.38

173.30

204.41

231.79

177.71

209.24

Insurance

151.88

141.96

137.96

Other Financial Services

1380.49

780.20

1091.40

Others

1.45

1.26

1.36

Other Un-allocable Assets Net of Un-allocable Liabilities

285.97

314.68

252.34

102.98

147.28

72.40

Total

990.01

905.47

904.13

2356.14

1665.90

1972.14