Standalone

Quarter ended

Year ended

31.03.2009

31.03.2008

31.03.2009

31.03.2008

(Unaudited)

(Unaudited)

(Audited)

(Audited)

1

Segment Revenue

Cycles / Components / E Scooters

199.22

169.02

722.43

568.49

Engineering

163.69

226.18

957.11

876.95

Metal Formed Products

125.64

106.21

477.89

367.91

Total

488.55

501.41

2157.43

1813.35

Less : Inter Segment Revenue

19.17

19.68

96.34

69.49

Net Sales

469.38

481.73

2061.09

1743.86

2

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

Cycles / Components / E Scooters

6.92

7.11

29.17

21.80

Engineering

(13.46)

6.00

16.54

42.85

Metal Formed Products

10.20

19.25

50.82

55.58

Total

3.66

32.36

96.53

120.23

Less :

Interest

5.88

6.57

28.19

21.29

Other Un-allocable Expenditure Net of Un-allocable Income

7.91

9.23

(14.68)

15.50

Net (Loss) / Profit before Tax

(10.13)

16.56

83.02

83.44

3

Capital Employed (Segment Assets - Segment Liabilities)

Cycles / Components / E Scooters

55.78

83.98

Engineering

329.17

362.05

Metal Formed Products

339.55

269.63

Other Un-allocable Assets Net of Un-allocable Liabilities

457.98

372.45

Total

1182.48

1088.11

Particulars

Standalone

Consolidated

Quarter ended

Year ended

Quarter ended

Year ended

31.03.2009

31.03.2008

31.03.2009

31.03.2008

31.03.2009

31.03.2008

31.03.2009

31.03.2008

(Unaudited)

(Unaudited)

(Audited)

(Audited)

(Unaudited)

(Unaudited)

(Audited)

(Audited)

1. a)

Net Sales / Income from Operations

469.38

481.73

2061.09

1743.86

696.59

652.06

2804.92

2287.64

b)

Other Operating Income

4.21

3.42

14.11

8.32

3.72

10.24

46.71

30.15

2.

Total Revenue

473.59

485.15

2075.20

1752.18

700.31

662.30

2851.63

2317.79

3.

Expenditure

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

10.25

17.29

(21.17)

(11.38)

8.55

17.02

(22.87)

(11.51)

b) Consumption of Raw Materials (Net)

292.49

284.12

1337.82

1088.72

303.04

283.97

1351.52

1090.60

c) Purchases of Traded Goods

10.19

6.52

42.26

17.02

10.19

6.52

42.26

17.02

d) Employee Cost

35.47

37.55

155.19

141.90

48.98

58.96

239.38

221.09

e) Depreciation

16.13

14.25

59.12

53.15

22.62

19.13

79.69

65.50

f) Other Expenditure

114.79

101.20

452.51

375.68

247.93

220.24

945.82

704.98

g) Total

479.32

460.93

2025.73

1665.09

641.31

605.84

2635.80

2087.68

4.

(Loss) / Profit from Operation and before Other Income, Interest and Exceptional Items (2 - 3)

(5.73)

24.22

49.47

87.09

59.00

56.46

215.83

230.11

5.

Other Income

1.48

(0.65)

15.08

11.72

3.13

(0.49)

16.29

12.00

6.

(Loss) / Profit Before Interest and Exceptional Items (4 + 5)

(4.25)

23.57

64.55

98.81

62.13

55.97

232.12

242.11

7.

Interest

5.88

6.57

28.19

21.29

49.20

43.63

212.31

138.48

8.

(Loss) / Profit After Interest but before Exceptional Items (6 - 7)

(10.13)

17.00

36.36

77.52

12.93

12.34

19.81

103.63

9.

Exceptional Items

a) Profit on Sale of Long Term Investments

46.66

1.25

46.66

1.25

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

(0.44)

4.67

(0.44)

4.67

c) Loss on Sale of Securities (Share in Joint Venture)

(4.99)

(4.99)

10.

(Loss) / Profit Before Tax from Ordinary Activities (8+9)

(10.13)

16.56

83.02

83.44

7.94

11.90

61.48

109.55

11.

Tax Expense (including Deferred Tax and Fringe Benefit Tax)

(5.70)

7.42

10.84

26.94

(8.53)

7.50

7.05

39.97

12.

(Loss) / Profit After Tax (10 - 11)

(4.43)

9.14

72.18

56.50

16.47

4.40

54.43

69.58

Minority Interest

(1.15)

0.68

(1.82)

(1.89)

13.

Net Profit

(4.43)

9.14

72.18

56.50

15.32

5.08

52.61

67.69

14.

Paid-up Equity Share Capital

36.95

36.95

36.95

36.95

36.95

36.95

36.95

36.95

(Face Value of Rs.2 Each)

15.

Reserves and Surplus

700.00

681.02

659.17

727.16

16.

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

(0.24)

0.49

3.91

3.06

0.83

0.27

2.85

3.66

17.

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

(0.24)

0.49

3.91

3.06

0.83

0.27

2.85

3.66

18.

Aggregate of Public Shareholding

Number of Shares

72,618,720

80,907,920

72,618,720

80,907,920

% of Shareholding

39.30%

43.79%

39.30%

43.79%

19.

Promoters and Promoter Group Shareholding

a) Pledged/Encumbered

- Number of Shares

2,675,364

2,675,364

- Percentage of Shares (as a % of the Total Shareholding of

Promoter and Promoter Group)

2.80%

2.80%

- Percentage of Shares (as a % of the Total Share Capital of the

Company)

1.45%

1.45%

b) Non Encumbered

- Number of Shares

92,726,666

92,726,666

- Percentage of Shares (as a % of the Total Shareholding of

Promoter and Promoter Group)

97.20%

97.20%

- Percentage of Shares (as a % of the Total Share Capital of the

Company)

50.18%

50.18%

The above Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 30th May, 2009. The Standalone Financial Results were adopted at the meeting held on 1st May 2009 and the same have already been published. The Consolidated Financial Results could not be considered at the meeting held on 1st May 2009, pending the receipt of the audited financial results of Cholamandalam DBS Finance Limited (CDFL).

At its meeting held on 1st May 2009, the Board of Directors recommended a dividend of Re.1/- (Rupee One) Per Equity Share of Rs. 2/- each for the financial year 2008-09.

The Compensation and Nomination Committee, at its meeting held on 30th January, 2009, approved the grant of 28,100 Stock Options to certain employees of the Company. The Options would vest on 30th January, 2010 (20%), 30th January, 2011 (20%), 30th January, 2012 (30%) and 30th January, 2013 (30%), 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. 31.05, being the closing price of the share on the National Stock Exchange on 29th January, 2009.

In CDFL, pursuant to the Capital Reduction Scheme under Sections 78, 100 to 103 of the Companies Act, 1956, as approved by its Shareholders and confirmed by the Hon'ble High Court of Judicature at Madras and registered with the Registrar of Companies on 30th April, 2009, an amount of Rs. 323.53 Cr., being the balance in its Securities Premium Account as at 31st March, 2008 has been withdrawn for creation of Provision for Standard Assets for an amount of Rs 200 Cr., adjustment of write off of the bad debts / loan losses for an amount of Rs 100 Cr. and setting off of the provision for diminution in the value of investments of CDFL in one of its subsidiaries, M/s. DBS Cholamandalam Distribution Limited, amounting to Rs 23.53 Cr.

Had CDFL not made Provision for Standard Assets in accordance with its revised provisioning policy and had the aforesaid adjustments to Securities Premium not been effected, the Consolidated Profit Before Tax would have been Rs. 23.27 Cr as against Rs. 61.48 Cr; and the Consolidated Profit After Tax would have been Rs. 16.22 Cr as against Rs. 54.43 Cr . The above accounting treatment though is as per the Court Order, is not in accordance with the Accounting Standards referred to in Section 211 (3) (C) of the Companies Act, 1956, as observed in the Auditors' Report for the year ended 31st March, 2009.

With reference to the observations made in the Auditors' Report for the year ended 31st March, 2009 regarding the clearance of certain outstanding open items in some of the Bank Reconciliation Statements of CDFL, the Management of CDFL is of the opinion that adjustments, if any, arising out of clearance of such reconciling items should not have a material impact on its reported balances of assets, liabilities, income and expenses and, consequently, on the financial statements of CDFL for the year. CDFL is in the process of reconciling such outstanding open items.

During the year ended 31st March, 2009, on account of rationalising some of the branches and its workforce, CDFL incurred one-time costs / loss of Rs.21.92 Cr, which also includes the Management's estimate of the balance cost to be incurred in this regard. The proportionate share of loss considered in the Consolidated Financial Results is Rs. 6.78 Cr.

During the year, the Management of CDFL reviewed and revised the provisioning norms applied for Non Performing Assets (NPA) taking into account:

1. the stipulated minimum provisioning requirements of the Reserve Bank of India (RBI)

2. the current economic environment and

3. the voluntary provision of Rs 200 Cr. for Standard Assets.

The change in respect of assets identified for full provisioning, as compared to the previous year ended 31st March, 2008 has resulted in the provision for NPA for the current year being lower by Rs.66.91 Cr in CDFL's Financial Statements and, consequently, the Consolidated Profit Before Tax for the current year being higher by Rs.20.70 Cr which has been referred to in the Auditor's Report.

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

Previous periods' figures have been re-grouped / re-classified, where necessary.

Particulars

Standalone

Consolidated

Quarter ended

Year ended

Quarter ended

Year ended

31.03.2009

31.03.2008

31.03.2009

31.03.2008

31.03.2009

31.03.2008

31.03.2009

31.03.2008

(Unaudited)

(Unaudited)

(Audited)

(Audited)

(Unaudited)

(Unaudited)

(Audited)

(Audited)

1

Segment Revenue

Cycles / Components / E Scooters

199.22

169.02

722.43

568.49

199.22

169.02

722.43

568.49

Engineering

163.69

226.18

957.11

876.95

164.32

226.19

962.44

876.96

Metal Formed Products

125.64

106.21

477.89

367.91

125.64

107.77

484.64

374.86

Insurance

134.37

84.02

385.36

248.86

Other Financial Services

92.06

86.51

346.90

291.46

Others

1.15

0.68

2.95

1.98

Total

488.55

501.41

2157.43

1813.35

716.76

674.19

2904.72

2362.61

Less : Inter Segment Revenue

19.17

19.68

96.34

69.49

20.17

22.13

99.80

74.97

Net Sales

469.38

481.73

2061.09

1743.86

696.59

652.06

2804.92

2287.64

2

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

Cycles / Components / E Scooters

6.92

7.11

29.17

21.80

6.92

7.11

29.17

21.80

Engineering

(13.46)

6.00

16.54

42.85

(18.74)

1.05

3.76

37.90

Metal Formed Products

10.20

19.25

50.82

55.58

10.21

19.30

51.02

56.19

Insurance

6.91

(2.86)

11.85

10.54

Other Financial Services (Profit After Interest and Before Tax)

15.32

2.95

(14.81)

24.18

Others

0.47

0.15

0.73

0.43

Total

3.66

32.36

96.53

120.23

21.09

27.70

81.72

151.04

Less :

Interest

5.88

6.57

28.19

21.29

6.58

6.57

28.46

21.29

Other Un-allocable Expenditure Net of Un-allocable Income

7.91

9.23

(14.68)

15.50

6.57

9.23

(8.22)

20.20

Net (Loss) / Profit before Tax

(10.13)

16.56

83.02

83.44

7.94

11.90

61.48

109.55

3

Capital Employed (Segment Assets - Segment Liabilities)

Cycles / Components / E Scooters

55.78

83.98

55.78

83.98

Engineering

329.17

362.05

356.41

388.89

Metal Formed Products

339.55

269.63

339.55

275.18

Insurance

149.23

145.70

Other Financial Services

219.94

162.89

Others

2.04

1.61

Other Un-allocable Assets Net of Un-allocable Liabilities

457.98

372.45

69.48

113.63

Total

1182.48

1088.11

1192.43

1171.88