Notes To Accounts : Sep 2003

EPS is Basic & Diluted.

Status of Investors Complaints for the quarter ended September 30, 2003

Complaints pending at the beginning of the quarter NIL

Complaints received during the quarter 3

Complaints disposed off during the quarter 3

Complaints unresolved at the end of the quarter NIL

1. The above unaudited financial Results, subject to Limited Review by the Statutory Auditors were taken on record by the Board of Directors at its meeting held on October 13, 2003.

2. The deferred tax asset has not been recognised as there is no reasonable certainty of sufficient taxable income being available against which such deferred tax assets can be realised.

3. ICICI Bank Ltd as the operating agency appointed by BIFR, submitted a proposal to BIFR for merger of the Company with M/s Lakshmi Machine Works Ltd. This proposal was considered by BIFR and ICICI Bank was asked to submit a scheme of merger with ICICI has already done. Final orders from BIFR are awaited.

4. The spinning unit with the capacity of 23184 spindles has been made available for conversion w.e.f October 01, 2003.