The estimated cumulative net deferred tax liability of Rs. 90 crores upto 30th June, 2001, will be provided for in the accounts for the current financial year ending 30th June, 2002. This adjustment has not been reflected in above figures shown under the head "for the year ended 2001", which remains as per the last audited accounts.

The Proposed Rights Issue of the Company for acquisition of Bilt Graphic Papers Ltd. is on track. The Issue comprises of 57231176 equity shares of Rs. 10/- each for cash at a premium of Rs. 25/- to 32/- per equity share on rights basis in a ratio of 8 : 10 or upto 7153897 Fully Convertible Debentures of Rs. 280/- to Rs. 336/- each @ 9.5% to 11.40% for cash at par on rights basis in the ratio of 1 : 10 at the option of Equity Shareholders aggregating to Rs. 2003.1 million to Rs. 2403.7 million
15th May, 2002 has been fixed as the Record Date for the purpose of determining the entitlement of the Equity Shareholders.

(In Rs/Lacs)

Sl.No.

Particulars

Quarterended
31.3.02

Nine Months ended
31.3.02

1

Segment Revenues:

Writing & Printing Paper

21370

64880

Coated Paper

2171

6800

APR Pulp

5415

13739

Chemicals

712

2188

Others (including traded goods)

7994

25734

Total:

37662

113341

Less: Inter Segment Revenues

8368

25115

29294

88226

2

Segment Results (Profit) (+)/(Loss) (-)

Before Tax and Interest from segment:

Writing & Printing Paper

5322

16065

Coated Paper (Incremental)

123

408

APR Pulp

632

1868

Chemicals

-151

-356

Others (including traded goods)

51

153

Total:

5977

18138

Less: I) Interest

2980

9188

         ii) Other un- allocable expenditure net of
             unallocable income

517

1562

Total Profits before Tax:

2480

7388

3

Capital Employed:-

(Segment Assets - Segment Liabilities) :
(Based on estimates in terms of avialable data)

As on 31.3.02

Writing & Printing Paper

123613

Coated Paper

4495

APR Pulp

46129

Chemicals

3122

Others

24163

Total

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