Quarter ended

Year ended

Quarter ended

Year ended

31.03.2008

31.03.2007

31.03.2008

31.03.2007

31.03.2008

31.03.2007

31.03.2008

31.03.2007

(Unaudited)

(Unaudited)

(Audited)

(Audited)

(Unaudited)

(Unaudited)

(Audited)

(Audited)

1.

Net Sales / Income from Operations

486.86

435.09

1762.33

1615.04

657.19

520.53

2306.11

1878.49

2.

Other Income

2.77

6.09

20.04

21.05

9.75

10.82

42.15

32.09

3.

Total Revenue (1+2)

489.63

441.18

1782.37

1636.09

666.94

531.35

2348.26

1910.58

4.

Expenditure

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

17.29

9.31

(11.38)

(13.82)

17.02

9.33

(11.51)

(13.84)

b) Consumption of Raw Materials (Net)

290.64

260.79

1105.74

976.72

290.49

260.88

1107.62

977.86

c) Employee Cost

35.44

27.43

134.68

115.14

56.85

40.86

213.87

161.62

d) Depreciation

14.25

11.87

53.15

50.39

19.13

13.57

65.50

56.42

e) Other Expenditure

110.38

98.63

404.51

372.75

229.42

140.30

733.81

512.30

f) Total

468.00

408.03

1686.70

1501.18

612.91

464.94

2109.29

1694.36

5.

Profit Before Interest, Tax and Exceptional Items (3 - 4)

21.63

33.15

95.67

134.91

54.03

66.41

238.97

216.22

6.

Interest

4.63

2.25

18.15

11.29

41.69

23.72

135.34

69.74

7.

Exceptional Items

a) Profit on Sale of Long Term Investments

0.00

0.00

1.25

71.30

0.00

0.00

1.25

71.30

b) Profit / (Loss) on Sale of Land and Buildings

(0.44)

0.39

4.67

0.39

(0.44)

0.39

4.67

0.39

8.

Profit Before Tax (5 - 6 + 7)

16.56

31.29

83.44

195.31

11.90

43.08

109.55

218.17

9.

Tax Expense (including Deferred Tax and Fringe Benefit Tax)

7.42

11.88

26.94

39.53

7.50

15.01

39.97

46.58

10.

Profit After Tax (8 - 9)

9.14

19.41

56.50

155.78

4.40

28.07

69.58

171.59

Less : Minority Interest

0.68

(1.26)

(1.89)

(3.24)

11.

Net Profit

9.14

19.41

56.50

155.78

5.08

26.81

67.69

168.35

12.

Paid-up Equity Share Capital

36.95

36.95

36.95

36.95

36.95

36.95

(Face Value of Rs.2 Each)

13.

Reserves and Surplus

681.02

618.90

722.67

654.13

14.

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

0.49

1.05

3.06

8.43

0.27

1.45

3.66

9.11

15.

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

0.49

1.05

3.06

8.43

0.27

1.45

3.66

9.11

16.

Aggregate of Public Shareholding

Number of Shares

80,907,920

84,290,670

% of Shareholding

43.79%

45.62%

The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 1st May, 2008.

The Board of Directors has recommended a dividend of 50% (Re. 1/- per Equity Share) on Equity Shares of Rs. 2/- each.

The Compensation and Nomination Committee, at its meeting held on 24th March, 2008, approved the grant of 26,55,260 Stock Options to certain employees of the Company. The Options would vest on 31st October, 2009 (25%), 31st October, 2010 (37.5%) and 31st October, 2011 (37.5%), 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. 56.80, being the closing price of the share on the National Stock Exchange on 19th March, 2008.

Arising out of the amalgamation of TIDC India Limited with the Company in 2004-05, TII Shareholding Trust was vested with 1,01,51,870 Equity Shares of Rs.2 each of the Company. During the quarter, the Trust sold 57,50,000 Equity Shares at a price of Rs 57.50 per share and passed on the proceeds to the Company, being the beneficiary. The Net Surplus on Sale of Shares amounting to Rs. 28.75 Cr. has been credited to the Securities Premium Account under Shareholders' Funds.

Pursuant to the announcement of the Institute of Chartered Accountants of India (ICAI) in respect of “Accounting for Derivatives”, the Company has opted to follow the recognition and measurement principles relating to derivatives as specified in AS 30 “Financial Instruments, Recognition and Measurement”, issued by ICAI, from the year ended 31st March, 2008. Consequently, as of 31st March, 2008, the Company has recognised Mark to Market (MTM) Loss of Rs. 3.03 Cr. relating to forward contracts and other derivatives entered into to hedge the foreign currency risk of highly probable forecast transactions that are designated as effective cash flow hedges, in the Hedge Reserve Account as part of the Shareholders' Funds. The MTM Loss on undesignated / ineffective forward contracts amounting to Rs. 0.65 Cr. has been recognised in the Profit & Loss account.

During the quarter, 8 investor complaints were received and resolved. There was no complaint pending both at the beginning and end of the quarter.

Previous periods' figures have been regrouped where necessary.

Consolidated

Quarter ended

Year ended

Quarter ended

Year ended

31.03.2008

31.03.2007

31.03.2008

31.03.2007

31.03.2008

31.03.2007

31.03.2008

31.03.2007

(Unaudited)

(Unaudited)

(Audited)

(Audited)

(Unaudited)

(Unaudited)

(Audited)

(Audited)

Segment Revenue

Cycles / Components

172.02

147.89

577.07

511.13

172.02

147.89

577.07

511.13

Engineering

228.08

216.36

884.89

829.77

228.09

216.36

884.90

829.77

Metal Formed Products

106.44

84.74

369.86

324.87

108.00

86.03

376.81

330.96

Insurance

84.02

33.58

248.86

127.28

Other Financial Services

86.51

51.12

291.46

134.54

Others

0.68

0.41

1.98

1.35

Total

506.54

448.99

1831.82

1665.77

679.32

535.39

2381.08

1935.03

Less : Inter Segment Revenue

19.68

13.90

69.49

50.73

22.13

14.86

74.97

56.54

Net Sales

486.86

435.09

1762.33

1615.04

657.19

520.53

2306.11

1878.49

Segment Results (Profit before Interest and Tax from each Segment except Other Financial Services)

Cycles / Components

7.11

8.78

21.80

19.35

7.11

8.78

21.80

19.35

Engineering

5.38

17.11

41.03

82.29

0.43

17.11

36.08

82.29

Metal Formed Products

19.25

16.75

55.58

55.28

19.30

16.80

56.19

55.82

Insurance

(2.86)

5.10

10.54

13.78

Other Financial Services (Profit After Interest and Before Tax)

2.95

6.59

24.18

14.09

Others

0.15

0.05

0.43

0.32

Total

31.74

42.64

118.41

156.92

27.08

54.43

149.22

185.65

Less :

Interest

4.63

2.25

18.15

11.29

4.63

2.26

18.15

11.30

Other Un-allocable Expenditure Net of Un-allocable Income

10.55

9.10

16.82

(49.68)

10.55

9.09

21.52

(43.82)

Net Profit before Tax

16.56

31.29

83.44

195.31

11.90

43.08

109.55

218.17

Capital Employed (Segment Assets - Segment Liabilities)

Cycles / Components

83.98

97.43

83.98

97.43

Engineering

362.05

349.95

388.89

362.35

Metal Formed Products

269.63

204.41

275.18

209.24

Insurance

145.70

137.96

Other Financial Services

162.89

95.68

Others

1.61

1.36

Other Un-allocable Assets Net of Un-allocable Liabilities

372.45

252.34

111.89

72.40

Total

1088.11

904.13

1170.14

976.42