Audited Financial Results for the Quarter and Year Ended 31st March, 2004

(Rs. in Millions)

Particulars

Nine Months Ended 31.12.2003

Quarter Ended 31.03.2004

Quarter Ended 31.03.2003

Year Ended 31.03.2004 (Audited)

Year Ended 31.03.2003 (Audited)

1.Net Sales/Income from Operations
2.Other Income

Net Income (1+2)

3.Total Expenditure
a).(Increase)/Decrease in stock in trade
b).Consumption of Raw Materials
c).Staff Cost
d).Other Expenditure

4.Interest (Net)
5.Depreciation
6.Profit before Tax
(1+2-3-4-5)
7.Provision for Taxation
- Current
- Deferred

3138.34
42.84

3181.18

2508.00
(37.82)

1596.29
290.91
658.62

30.65
176.39
466.14

127.20
5.24

1433.35
8.37

1441.72

1132.04
(29.00)

762.47
116.48
282.09

2.51
92.28
214.89

73.24
(9.15)

956.77
39.21

995.98

757.44
11.75

410.00
84.21
251.48

11.13
67.01
160.40

48.26
9.44

4571.69
51.21

4622.90

3640.04
(66.82)

2358.56
407.39
940.71

33.16
268.67
681.03

200.44
(3.91)

3334.34
79.34

3413.68

2704.18
19.00

1599.87
320.81
764.50

65.46
231.36
412.68

116.89
5.92

8.Net Profit (6-7)

333.70

150.80

102.70

484.50

289.87

9. Paid-up Equity Share Capital (Ordinary share Rs.1/- each)	156.59	156.59	156.59	156.59	156.59
10.Reserves excluding Revaluation Reserves	-	-	-	1211.22	903.38
11. Earning per share (Basic and Diluted)	2.13	0.96	0.66	3.09	1.85
12. Aggregate of Non Promoting Shareholding - No of Shares - Percentage of Shareholding	44718880 28.56%	44598595 28.48%	44799380 28.61%	44598595 28.48%	44799380 28.61%

SEGMENT REPORTING UNDER CLAUSE 41 OF THE LISTING AGREEMENT WITH STOCK EXCHANGE FOR THE QUARTER YEAR ENDED 31ST MARCH, 2004

(Rs. in Millions)

Particulars	Quarter Ended 31.03.2004	Quarter Ended 31.03.2003	Year Ended 31.03.2004 (Audited)	Year Ended 31.03.2003 (Audited))
1. Segment Revenue
a. Automotive	1333.17	910.17	4209.90	3131.49
b. Non Automotive	108.46	68.90	410.77	269.92
c. Unallocated	1.78	18.71	9.19	18.72
Total	1443.41	997.78	4629.86	3420.13
Less: Inter Segment Revenue	1.69	1.80	6.96	6.45
Net Sales/Income from Operations	1441.72	995.98	4622.90	3413.68

2. Segment Results
a. Automotive	213.53	147.34	647.49	434.05
b. Non Automotive	2.64	10.06	63.77	30.03
Total	216.17	157.40	711.26	464.08
Less i) Interest (Net)	2.51	11.13	33.16	65.46
ii) Other unallocable expenditure (Net of Unallocable Income)	(1.23)	(14.13)	(2.93)	(14.06)
Total Profit Before Tax	214.89	160.40	681.03	412.68

3. Capital Employed
a. Automotive	2093.50	1682.70	2093.50	1682.70
b. Non Automotive	137.40	108.37	137.40	108.37
c. Others (including investments)	(74.10)	87.24	(74.10)	87.24
Total Segment Capital Employed	2156.80	1878.31	2156.80	1878.31

AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2004

(Rs. in Millions)

Particulars

Year Ended

31.03.2004

31.03.2003

1.Net Sales/Income from Operations	5899.35	4188.45
2.Other Income	71.43	119.18
Net Income (1+2)	5970.78	4307.63
3. Total Expenditure	4766.88	3538.30
a). (Increase)/Decrease in stock in trade	(83.69)	(18.07)
b). Consumption of Raw Materials	3228.21	2177.16
c). Staff Cost	510.24	384.27
d). Other Expenditure	1112.12	994.94
4. Interest (Net)	44.79	75.90
5. Depreciation	304.15	265.55
6. Profit before Tax (1+2-3-4-5)	854.96	427.88
7. Provision for Taxation
- Current	212.35	120.10
- Deferred	(3.88)	3.27
8. Profit After Taxation before share of Profit/(Loss) of associates and minority interests ( 6-7)	646.49	304.51
9. Share of Profit/(Loss) of Associates	2.54	7.40
10. Profit After Taxation before Minority Interests (8+9)	649.03	311.91
11. Minority Interests	(3.35)	-
NET PROFIT (10-11)	652.38	311.91
12. Paid-up equity share capital (Ordinary share Re. 1/- each)	156.59	156.59
13. Reserves excluding Revaluation Reserves	1253.94	1094.78
14. Earning per share (Basic and Diluted)	4.17	1.99
15. Aggregate of non promoting shareholding
- No of shares	44598595	44799380
- Percentage of shareholding	28.48%	28.61%

NOTE:

The above financial results were approved by Board of Directors of the Company at the meeting held on 28th May 2004.
The Board of Directors have recommended a dividend @100% (Rs. 1/- per share) for the year ended March 31, 2004. The Registrar of Members and share transfer books shall remain closed from 13th September 2004 to 16th September 2004 (both days inclusive). Dividend if approved by the members at the forthcoming Annual General Meeting will be payable to these members who are in the register of members of the Company as on 16th September 2004.
The company in the current year has consolidated the results of the following subsidiary companies by an early adoption of the revised provisions of AS-27 issued by ICAI:
a) Draexlmaier and Motherson Electrical Systems India Limited
b) Motherson Pudenz Wickmann Limited
In the previous year these companies were accounted for as joint ventures using proportionate consolidation method. This however, has no effect on the consolidated net profits of the group.
The Elastomers division of the company is being transferred as a going concern to a subsidiary company with effect from 01st June 2004. in accordance with joint venture agreement signed with WOCO Franz Josef Wolf Holding GmbH & WOCO Industrieteknik GmbH.
Investors Complaints received and disposed off during quarter ended March 31, 2004: Nos

Complaints pending at the beginning of the quarter	3
Complaints received during the quarter	6
Disposal of complaints	6
Complaints lying unresolved at the end of the quarter	3

Previous year figures have been regrouped wherever necessary.

By Order of the Board Of Directors
For Motherson Sumi Systems Ltd.

V.C. Sehgal
Chairman

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