Presently, the share transfers which are received in physical form are processed and the share certificates returned within a period of 15 to 20 days from the date of receipt, subject to the documents being valid and complete in all respects. The Company has, as per SEBI guidelines with effect from 25th September 2000 offered the facility of transfer cum demat. Under the said system, after the share transfer is effected an option letter is sent to the transferee indicating the details of the transferred shares and requesting him in case he wishes to demat the shares to approach a Depository Participant (DP) with the option letter. The DP, based on the option letter, generates a demat request and sends the same to the company along with the option letter issued by the Company. On receipt of the same, the Company dematerialises the shares. In case the transferee does not wish to dematerialise the shares, he need not exercise the option and the Company will despatch the share certificates after 30 days from the date of such option letter.

Quarterly Results (Tentative)

About 93.40% of the outstanding shares have been dematerialised as on 30th June, 2005. Trading in Equity Shares of the Company is permitted only in dematerialised form w.e.f. 25th September 2000 as per notification issued by the Securities and Exchange Board of India (SEBI).

Outstanding GDR / ADRs / Warrants or any Convertible Instruments, Conversion date and likely impact on Equity : None.