1. The results for the year ended 31st March, 2009 were reviewed by the Audit Committee in its meeting held on 25th June, 2009  

2. The Above results were taken on record by the Board of Directors at their meeting held on 25th June, 2009 

3. The Company has 3 Subsidiaries i.e. HBL (UK) Ltd.; Bhagirath Energy Systems Pvt Ltd (BES), Nepal; HBL Power Systems  (M) SDN.BHD, Malaysia, and a Joint Venture Company HBL Elta Avionics Systems Pvt Ltd, Hyderabad. The Subsidiaries in UK and Nepal are Under Liquidation and financial statements are not available. The Audit of financial statements of subsidiary in Malaysia and Joint venture company in Hyderabad is in progress and hence audited statements are not available. In view of this, the consolidated financial statements could not be prepared and submitted as required under clause 41 of the Listing Agreement.

4. Details of investors complaints for the quarter ended 31st March, 2009 -(Nos): Opening Balance: Nil, Received: 18, Disposed off : 18 , Closing Balance: NIL

5. Hitherto, Depreciation for Dies & Moulds was charged as per rates provided in Schedule XIV to the Companies Act. During the year, is has been decided to change the accounting policy with retrospective effect by charging depreciation @ 20% from the date of additions considering the wear and tear assessed technically. This change in the policy as resulted in an additional depreciation of Rs. 611.38 lakhs up to 31-03-2008 and Rs.130.29 lakhs for the year 2008-09 with consequent reduction in the Profit for the year by Rs.741.67 lakhs

6. The Board of Directors recommend a dividend at Rs.3/- Per share(30% on face value of Rs.10/- each) amounting to Rs.728.39 Lakhs plus Tax on dividend Rs.123.79 Lakhs.

 Place: Hyderabad

(Dr. A.J. Prasad)

 Date 25th June 2009

Chairman & Managing Director

QUARTERLY REPORTING OF SEGMENT-WISE REVENUE, RESEULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT
 

 Place: Hyderabad

(Dr. A.J. Prasad)

 Date 25st  June 2009

Chairman & Managing Director