Nine Months ended

Quarter ended

Year ended

Consolidated

Consolidated

31.12.2005

31.12.2004

31.03.2006

31.03.2005

31.03.2006

31.03.2005

31.03.2006

31.03.2005

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

(Audited)

(Audited)

(Audited)

1.

Gross Sales including Excise Duty / Income from Operations

1199.98

1137.29

384.20

425.29

1584.18

1562.58

1689.31

1633.85

Less : Excise Duty

97.89

91.82

25.35

21.02

123.24

112.84

123.24

112.84

Net Sales / Income from Operations

1102.09

1045.47

358.85

404.27

1460.94

1449.74

1566.07

1521.01

2.

Other Income

36.53

10.18

97.54

8.19

134.07

18.37

146.79

29.18

Total Revenue

1138.62

1055.65

456.39

412.46

1595.01

1468.11

1712.86

1550.19

3.

Total Expenditure

a) (Increase) / Decrease in Stock in Trade

(5.46)

(12.55)

(16.41)

6.05

(21.87)

(6.50)

(21.95)

(6.42)

b) Consumption of Raw Materials

660.97

658.48

227.95

238.56

888.92

897.04

888.92

898.92

c) Staff Cost

77.09

65.12

20.22

21.15

97.31

86.27

119.48

102.60

d) Other Expenditure

234.78

221.37

88.50

91.43

323.28

312.80

404.96

377.76

Total Expenditure

967.38

932.42

320.26

357.19

1287.64

1289.61

1391.41

1372.86

Profit before Interest, Depreciation and Tax

171.24

123.23

136.13

55.27

307.37

178.50

321.45

177.33

4.

Interest

10.49

13.48

2.69

1.03

13.18

14.51

20.99

14.61

5.

Depreciation

32.98

29.19

15.58

8.62

48.56

37.81

53.56

40.94

6.

Net Profit before Tax

127.77

80.56

117.86

45.62

245.63

126.18

246.90

121.78

7.

Provision for Taxation - Income Tax - Current

26.25

23.68

21.25

13.32

47.50

37.00

48.54

37.00

- Income Tax - Previous Years

0.00

0.00

3.62

0.00

3.62

0.00

3.62

0.00

- Deferred Tax (Asset) /Liability

7.14

(4.61)

1.65

(4.76)

8.79

(9.37)

8.79

(9.33)

- Fringe Benefit Tax

2.13

0.00

0.66

0.00

2.79

0.00

3.41

0.00

8.

Profit After Tax

92.25

61.49

90.68

37.06

182.93

98.55

182.54

94.11

Add : Minority Interest

0.81

1.49

Add : Share of Associate

3.75

15.03

9

Net Profit

92.25

61.49

90.68

37.06

182.93

98.55

187.10

110.63

Paid-up Equity Share Capital

36.95

36.95

36.95

36.95

36.95

36.95

36.95

36.95

(Equity Shares of Rs.10 each)

Reserves and Surplus

520.43

411.24

551.13

464.36

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

24.96

16.64

24.54

10.03

49.50

26.67

50.63

29.94

Aggregate of non-promoters' shareholding

Number of Shares

21179955

21184472

% of shareholding

57.31%

57.32%

1

The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 27th April 2006.

2

The Board of Directors has recommended final dividend of 60%. A Special Interim Dividend of 175% was declared at the meeting of Board of Directors held on 23rd March 2006 and the same has already been paid.

3

The Board of Directors, at its meeting held on 23rd March 2006, approved sub division of One (1) Equity Share of Rs. 10/= each of the Company into Five (5) Equity Shares of Rs. 2/= each. The approval of the shareholders for the proposed sub division has been sought through Postal Ballot.

4

Other Income for the year ended 31st March 2006 includes Profit on sale of land and buildings of Rs. 21.42 Cr. (Previous Year Rs. 1.25 Cr.) and Profit from sale of long term investments of Rs. 89.08 Cr. (Previous Year Rs. 5.20 Cr.)

5

During the quarter, 7 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.

Nine Months ended

Quarter ended

Year ended

Consolidated

Consolidated

31.12.2005

31.12.2004

31.03.2006

31.03.2005

31.03.2006

31.03.2005

31.03.2006

31.03.2005

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

(Audited)

(Audited)

(Audited)

1

Segment Revenue

Cycles / Components

364.93

337.25

100.93

145.15

465.86

482.40

465.86

482.40

Engineering

566.50

550.73

192.86

203.62

759.36

754.35

759.36

754.35

Metal Formed Products

195.91

185.62

73.27

68.07

269.18

253.69

269.18

253.69

Insurance

88.40

71.04

Others

19.66

3.03

Total

1127.34

1073.60

367.06

416.84

1494.40

1490.44

1602.46

1564.51

Less : Inter Segment Revenue

25.25

28.13

8.21

12.57

33.46

40.70

36.39

43.50

Net Sales

1102.09

1045.47

358.85

404.27

1460.94

1449.74

1566.07

1521.01

2

Segment Results (Profit(+)/Loss(-) before Interest and Tax

Cycles / Components

10.83

11.16

1.90

9.36

12.73

20.52

12.73

20.52

Engineering

75.76

55.96

32.78

35.70

108.54

91.66

108.54

91.66

Metal Formed Products

33.20

30.68

13.70

8.79

46.90

39.47

46.90

39.47

Insurance

(2.50)

(3.34)

Total

119.79

97.80

48.38

53.85

168.17

151.65

165.67

148.31

Less :

Interest

10.49

13.48

2.69

1.03

13.18

14.51

20.99

14.61

Other Un-allocable Expenditure Net of Un-allocable Income

(18.47)

3.76

(72.17)

7.20

(90.64)

10.96

(98.44)

10.86

Add: Share in Joint Venture

3.78

(1.06)

Total Profit before Tax

127.77

80.56

117.86

45.62

245.63

126.18

246.90

121.78

3

Capital Employed (Segment Assets - Segment Liabilities)

Cycles / Components

88.90

115.19

88.90

115.19

Engineering

325.99

257.28

325.99

257.28

Metal Formed Products

165.37

128.09

165.37

128.09

Other Un-allocable Assets Net of Un-allocable Liabilities

262.92

208.46

95.49

188.48

Insurance

126.25

129.38

Share of Joint Venture

631.18

3.21

Total

843.18

709.02

1,433.18

821.63