| (Rs. in Million) |
| Particulars | Dec 2003 | Dec 2002 | Dec 2001 |
| EQUITY AND LIABILITIES | 0 | 0 | 0 |
| Share Capital | 181.60 | 181.60 | 181.61 |
| Equity - Authorised | 200.00 | 200.00 | 200.00 |
| Equity - Issued | 181.61 | 181.61 | 181.61 |
| Equity Paid Up | 181.60 | 181.60 | 181.61 |
| Equity Shares Forfeited | 0.00 | 0.00 | 0.00 |
| Adjustments to Equity | 0.00 | 0.00 | 0.00 |
| Preference Capital Paid Up | 0.00 | 0.00 | 0.00 |
| Face Value | 10.00 | 10.00 | 10.00 |
| Share Warrants & Outstandings | 0.00 | 0.00 | 0.00 |
| Total Reserves | 1577.69 | 1459.66 | 1351.50 |
| Securities Premium | 404.97 | 404.97 | 404.97 |
| Capital Reserves | 0.00 | 0.00 | 0.00 |
| Profit & Loss Account Balance | 362.61 | 310.60 | 248.44 |
| General Reserves | 810.08 | 744.08 | 698.08 |
| Other Reserves | 0.03 | 0.01 | 0.01 |
| Reserve excluding Revaluation Reserve | 1577.69 | 1459.66 | 1351.50 |
| Revaluation reserve | 0.00 | 0.00 | 0.00 |
| Shareholder's Funds | 1759.29 | 1641.26 | 1533.10 |
| Minority Interest | 0.00 | 0.00 | 0.00 |
| Long-Term Borrowings | 0.00 | 0.00 | 0.00 |
| Secured Loans | 0.00 | 0.00 | 0.00 |
| Non Convertible Debentures | 0.00 | 0.00 | 0.00 |
| Converible Debentures & Bonds | 0.00 | 0.00 | 0.00 |
| Packing Credit - Bank | 0.00 | 0.00 | 0.00 |
| Inter Corporate & Security Deposit | 0.00 | 0.00 | 0.00 |
| Term Loans - Banks | 0.00 | 0.00 | 0.00 |
| Term Loans - Institutions | 0.00 | 0.00 | 0.00 |
| Other Secured | 0.00 | 0.00 | 0.00 |
| Unsecured Loans | 65.84 | 65.67 | 64.32 |
| Fixed Deposits - Public | 0.17 | 0.28 | 0.51 |
| Loans and advances from subsidiaries | 0.00 | 0.00 | 0.00 |
| Inter Corporate Deposits (Unsecured) | 0.00 | 0.00 | 0.00 |
| Foreign Currency Convertible Notes | 0.00 | 0.00 | 0.00 |
| Long Term Loan in Foreign Currency | 0.00 | 0.00 | 0.00 |
| Loans - Banks | 0.00 | 0.00 | 0.00 |
| Loans - Govt. | 0.00 | 0.00 | 0.00 |
| Loans - Others | 0.00 | 0.00 | 0.26 |
| Other Unsecured Loan | 65.67 | 65.39 | 63.55 |
| Deferred Tax Assets / Liabilities | 19.30 | 24.74 | 43.16 |
| Deferred Tax Assets | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liability | 19.30 | 24.74 | 43.16 |
| Other Long Term Liabilities | 0.00 | 0.00 | 0.00 |
| Long Term Trade Payables | 0.00 | 0.00 | 0.00 |
| Long Term Provisions | 0.00 | 0.00 | 0.00 |
| Total Non-Current Liabilities | 85.14 | 90.41 | 107.48 |
| Current Liabilities | 0 | 0 | 0 |
| Trade Payables | 660.18 | 595.86 | 559.77 |
| Sundry Creditors | 660.18 | 595.86 | 559.77 |
| Acceptances | 0.00 | 0.00 | 0.00 |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 336.90 | 218.06 | 144.92 |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | 0.00 |
| Advances received from customers | 314.50 | 190.73 | 132.45 |
| Interest Accrued But Not Due | 0.00 | 0.00 | 0.00 |
| Share Application Money | 0.00 | 0.00 | 0.00 |
| Current maturity of Debentures & Bonds | 0.00 | 0.00 | 0.00 |
| Current maturity - Others | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 22.40 | 27.33 | 12.47 |
| Short Term Borrowings | 0.00 | 0.00 | 0.00 |
| Secured ST Loans repayable on Demands | 0.00 | 0.00 | 0.00 |
| Working Capital Loans- Sec | 0.00 | 0.00 | 0.00 |
| Buyers Credits - Unsec | 0.00 | 0.00 | 0.00 |
| Commercial Borrowings- Unsec | 0.00 | 0.00 | 0.00 |
| Other Unsecured Loans | 0.00 | 0.00 | 0.00 |
| Short Term Provisions | 109.20 | 242.25 | 197.05 |
| Proposed Equity Dividend | 90.80 | 181.60 | 181.61 |
| Provision for Corporate Dividend Tax | 0.00 | 0.00 | 0.00 |
| Provision for Tax | 0.00 | 34.27 | 11.74 |
| Provision for post retirement benefits | 0.00 | 0.00 | 0.00 |
| Preference Dividend | 0.00 | 0.00 | 0.00 |
| Other Provisions | 18.40 | 26.38 | 3.70 |
| Total Current Liabilities | 1106.28 | 1056.17 | 901.74 |
| Total Liabilities | 2950.71 | 2787.84 | 2542.32 |
| ASSETS | 0 | 0 | 0 |
| Gross Block | 977.51 | 1015.05 | 945.66 |
| Less: Accumulated Depreciation | 613.11 | 637.69 | 575.23 |
| Less: Impairment of Assets | 0.00 | 0.00 | 0.00 |
| Net Block | 364.40 | 377.36 | 370.43 |
| Lease Adjustment A/c | 0.00 | 0.00 | 0.00 |
| Capital Work in Progress | 15.35 | 3.15 | 0.10 |
| Non Current Investments | 595.08 | 740.76 | 250.95 |
| Long Term Investment | 595.08 | 740.76 | 250.95 |
| Quoted | 595.08 | 744.31 | 255.00 |
| Unquoted | 0.00 | 0.50 | 0.00 |
| Long Term Loans & Advances | 0.00 | 0.00 | 0.00 |
| Other Non Current Assets | 0.00 | 0.00 | 0.00 |
| Total Non-Current Assets | 974.83 | 1121.27 | 621.49 |
| Current Assets Loans & Advances | 0 | 0 | 0 |
| Currents Investments | 0.00 | 0.00 | 390.70 |
| Quoted | 0.00 | 0.00 | 390.19 |
| Unquoted | 0.00 | 0.00 | 0.50 |
| Inventories | 609.49 | 510.67 | 401.43 |
| Raw Materials | 270.45 | 228.19 | 191.59 |
| Work-in Progress | 159.06 | 123.70 | 102.85 |
| Finished Goods | 103.36 | 67.76 | 55.83 |
| Packing Materials | 0.00 | 0.00 | 0.00 |
| Stores and Spare | 6.59 | 3.21 | 6.33 |
| Other Inventory | 70.03 | 87.81 | 44.84 |
| Sundry Debtors | 971.30 | 667.41 | 624.37 |
| Debtors more than Six months | 268.32 | 143.85 | 60.88 |
| Debtors Others | 765.43 | 577.71 | 588.38 |
| Cash and Bank | 200.70 | 307.18 | 327.19 |
| Cash in hand | 1.20 | 0.91 | 1.12 |
| Balances at Bank | 199.50 | 306.27 | 325.98 |
| Other cash and bank balances | 0.00 | 0.00 | 0.09 |
| Other Current Assets | 47.11 | 69.70 | 81.62 |
| Interest accrued on Investments | 0.00 | 0.00 | 0.00 |
| Interest accrued on Debentures | 0.00 | 0.00 | 0.00 |
| Deposits with Government | 0.00 | 0.00 | 0.00 |
| Interest accrued and or due on loans | 8.60 | 9.28 | 1.49 |
| Prepaid Expenses | 0.00 | 0.00 | 0.00 |
| Other current_assets | 38.51 | 60.42 | 80.13 |
| Short Term Loans and Advances | 147.28 | 111.61 | 95.53 |
| Advances recoverable in cash or in kind | 134.18 | 110.56 | 95.43 |
| Advance income tax and TDS | 3.93 | 0.00 | 0.00 |
| Amounts due from directors | 0.06 | 0.08 | 0.10 |
| Due From Subsidiaries | 0.00 | 0.00 | 0.00 |
| Inter corporate deposits | 0.00 | 0.00 | 0.00 |
| Corporate Deposits | 0.00 | 0.00 | 0.00 |
| Other Loans & Advances | 9.11 | 0.97 | 0.00 |
| Total Current Assets | 1975.88 | 1666.57 | 1920.84 |
| Net Current Assets (Including Current Investments) | 869.60 | 610.40 | 1019.10 |
| Miscellaneous Expenses not written off | 0.00 | 0.00 | 0.00 |
| Total Assets | 2950.71 | 2787.84 | 2542.32 |
| Contingent Liabilities | 327.08 | 449.97 | 349.80 |
| Total Debt | 65.84 | 65.67 | 64.32 |
| Book Value | 96.88 | 90.38 | 84.42 |
| Adjusted Book Value | 96.88 | 90.38 | 84.42 |