CONTENTS Proxy Form 65

Essar Steel Limited15. Consumption of Raw MaterialsUnitYear Ended31st March 2008Year Ended31st March 2007Quantity Rs. Crores Quantity Rs. CroresFines/pellet MT 7,278,216 1,747.46 6,063,128 1,314.67Iron Ore MT 1,164,876 556.54 1,365,007 560.17Cast Slabs MT 78 1.49 118,595 244.61Zinc MT 6,365 97.34 10,251 192.22Cost of fines sold – 89.36Others 217.24 152.712,620.07 2,553.74Year Ended31st March 2008Year Ended31st March 2007% of total Rs. Crores % of total Rs. CroresImported (including purchased from canalising agency) 12 312.94 17 445.12Indigenous 88 2,307.13 83 2,108.62100 2,620.07 100 2,553.7416 Consumption of Production Consumables, Stores and SparesImported 27 360.76 51 527.01Indigenous 73 959.02 49 513.93100 1,319.78 100 1,040.9417. Directors’ RemunerationYear Ended31st March 2008Rs. CroresYear Ended31st March 2007Rs. CroresSalary and Allowances 2.46 2.21Contribution to Provident Fund 0.14 0.17Other Perquisites* 0.13 0.142.73 2.52* The perquisites value is calculated based on the provisions of the Income Tax Act, 1961.Note: As the future liability for gratuity and leave encashment is provided on an actuarial basis for the Company as a whole, the amountpertaining to the directors is not ascertainable and, therefore, not included above.18. Auditors’ Remuneration (excluding service tax)Audit Fees 1.02 1.15Other Services 0.59 0.02Reimbursement of Expenses 0.06 0.061.67 1.2332