UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / NINE MONTHS ENDED 31ST DECEMBER 2004
			(Rs. in lacs)
Particulars							Previous
							Accounting
			Quarter ended		Nine months ended		year ended
			31.12.2004	31.12.2003	31.12.2004	31.12.2003	31.03.2004
							(Audited)
1	Net Sales (Net of Excise)/Income from operations		1531.67	1214.65	4232.92	3435.70	5061.85
2	Other Income		1.96	4.21	13.99	17.90	39.66
3	Total Expenditure		1358.08	1049.26	3659.02	3018.37	4510.64
	a)	Increase/decrease in stock in trade	(-) 57.49	(-) 0.42	(-) 164.88	(-) 115.33	7.08
	b)	Consumption of raw materials	222.43	193.05	632.06	571.87	792.28
	c)	Purchases (Tradings)	322.20	161.03	807.66	515.55	777.75
	d)	Power & Fuel	106.53	111.58	291.48	322.43	383.97
	e)	Staff Cost	236.35	205.27	709.04	615.88	907.18
	f)	Other expenditure	528.06	378.75	1383.66	1107.97	1642.38
4	Operating Profit		175.55	169.60	587.89	435.23	590.87
5	Interest		30.33	34.40	89.76	98.59	122.11
6	Gross Profit		145.22	135.20	498.13	336.64	468.76
7	Depreciation		55.93	49.00	189.79	144.56	205.69
8	Profit (+)/Loss (-) before tax		89.29	86.20	308.34	192.08	263.07
9	Provision for taxation
	-	Current	30.00	2.55	80.00	29.55	33.00
	-	Deferred	9.91	10.30	(-) 5.45	20.53	68.96
10	Net Profit (+)/Loss (-)		49.38	73.35	233.79	142.00	161.11
11	Paid-up equity share capital		268.75	268.75	268.75	268.75	268.75
	(Face Value Rs. 5/- each)
12	Reserves excluding revaluation reserve		---	--	--	--	1863.05
	(as per balance sheet)
13	Basic and diluted EPS (in Rs.)		0.92	1.36	4.35	2.64	3.00
14	Aggregate of Non-promoter Shareholding
	- No. of shares		2237034	2237034	2237034	2237034	2237034
	- Percentage of shareholding		41.62	41.62	41.62	41.62	41.62
Notes:
1	The above statement of Unudited Financial Results were reviewed by the Audit Committee and approved by the
	Board of Directors at its meeting held on 18.01.2005.
2	Figures have been regrouped wherever necessary.
3	The Statutory Auditors of the Company have carried out a limited Review of the Unaudited Financial Results for
	the quarter / nine months ended 31.12.2004.
4	Status of Investors' Complaints / Queries: Pending as on 01.10.2004 - NIL, received during the quarter - 33,
	disposed off during the quarter - 30 and pending as on 31.12.2004 -3.
				By Order of the Board
Date: 18.01.2005				Vikram Somany
Place: Ahmedabad				Chairman-cum-Managing Director