president & cfo - UB Group

Profit and Loss Account for the year ended March 31, 2009Rs. MillionIncOmeSchedule 2009 2008Sales (Gross) 71,130.831 51,784.918Less: Excise Duty 33,654.208 23,343.10337,476.623 28,441.815Income arising from Sale by Manufacturers under 'Tie-up'agreements (Tie-up units) 2,958.308 2,916.525Income from Brand Franchise 460.493 372.903Other Income 13 543.446 369.138Exchange Gain 90.901 117.87941,529.771 32,218.260EXpenDitureMaterials 14 23,118.263 15,843.843Manufacturing and Other Expenses 15 11,500.545 9,913.530Interest and Finance charges (Net) 16 1,957.794 1,285.11336,576.602 27,042.486Profit before Depreciation and Taxation 4,953.169 5,175.774Depreciation 361.565 326.112Profit before Taxation 4,591.604 4,849.662Provision for Taxation:Current Tax 1,760.925 1,710.000Deferred Tax (Credit) (186.008) (13.097)Fringe Benefit Tax 50.063 40.000Profit after Taxation 2,966.624 3,112.759Profit brought forward from previous year 7,018.342 4,411.221Profit transferred on Amalgamation [Schedule 18 Note 2(D)] 103.983 -10,088.949 7,523.980Appropriations:Proposed DividendPreference Shares - 1.930Equity Shares 215.825 150.331Corporate Tax on Proposed Dividend 36.679 25.877Transfer to Capital Redemption Reserve - 77.500Transfer to General Reserve 350.000 250.000Profit carried to Balance Sheet 9,486.445 7,018.342Basic Earnings Per Share (Face Value of Rs.10 each) 27.49 31.84Diluted Earnings Per Share (Face Value of Rs.10 each) 27.49 31.40Statement on Significant Accounting Policies 17Notes on Accounts 18The Schedules referred to above and the notes thereon form an integral part of the Accounts.This is the Profit and Loss Account referredto in our report of even dateJ. MAJUMDAR M.R. DORAISWAMY IYENGAR V.K. REKHIPartner Director Managing DirectorFor and on behalf ofPrice Waterhouse V.S.VENKATARAMAN P.A. MURALIChartered Accountants Company Secretary Chief Financial OfficerBangaloreBangaloreJuly 29, 2009 July 29, 200927