Unaudited Financial Results for the quarter ended June 30, 2010

(Rupees in lacs)
Quarter Corresponding Year ended
S.
Particulars ended quarter ended March 31, 2010
No.
June 30, 2010 June 30, 2009
Unaudited Unaudited Audited
(1) (2) (3)
No. of Two wheelers sold 1,234,039 1,118,987 4,600,130
1 Gross sales/ Income from Operations 459,022 405,936 1,678,062
Less: Excise duty 32,561 24,831 102,244
Net sales/ Income from Operations 426,461 381,105 1,575,818
Other Operating Income 3,200 1,811 10,233
Total Net Operating Income 429,661 382,916 1,586,051
2 Expenditure
[A] (Increase)/Decrease in stock in trade and work in progress (2,545) 1,243 595
[B] Consumption of raw materials 308,481 257,726 1,073,041
[C] Employees cost 14,501 13,853 56,032
[D] Depreciation 4,828 4,558 19,147
[E] Other expenditure 48,970 45,082 179,688
Total Expenditure 374,235 322,462 1,328,503
3 Profit from Operations before Other Income, Interest and Tax (1-2) 55,426 60,454 257,548
4 Other Income ( net of related expenses) 5,342 4,248 23,563
5 Profit before Interest and Tax (3+4) 60,768 64,702 281,111
6 Interest (net) (266) (546) (2,062)
7 Profit from Ordinary Activities before Tax (5-6) 61,034 65,248 283,173
8 Provision for Tax 11,865 15,237 59,990
9 Net Profit for the period (7-8) 49,169 50,011 223,183
10 Paid-up Equity Share Capital 3,994 3,994 3,994
Face value of the share (Rs.) 2.00 2.00 2.00
11 Reserves excluding Revaluation Reserve 342,508
12 Basic and diluted earnings per share (Rs.) 24.62 25.04 111.77
13 Public shareholding (Rs. 2.00 per share) (Rs. 2.00 per share) (Rs. 2.00 per share)
-Number of shares 95,428,010 89,937,195 89,938,195
-Percentage of holding (to total holding) 47.79% 45.04% 45.04%
14 Promoters & promoter group shareholding
a)Pledged/encumbered
Number of shares - - -
Percentage of shares (as a % of total shareholding of promoter and promoter group) - - -
Percentage of shares ( as a % of the total share capital of the company) - - -
b)Non-encumbered
Number of shares 104,259,490 109,750,305 109,749,305
Percentage of shares (as a % of total shareholding of promoter and promoter group) 100.00% 100.00% 100.00%
Percentage of shares ( as a % of the total share capital of the company) 52.21% 54.96% 54.96%
Notes:-
1 The above results for the first quarter ended June 30, 2010 were reviewed by the Audit Committee and thereafter were approved by the Board of Directors in their meeting held on
July 29, 2010.

2 During the quarter, in view of the re-alignment in the family of Indian Promoters, the entire "Promoter and Promoter Group" of the Company was reconstituted.

3 The Board of Directors of the Company in its meeting held on July 29, 2010 has considered and approved the resignation of Mr. O.P.Munjal, Non-executive Director from the Board of
the Company w.e.f. July 29, 2010 and has appointed Mr. Suman Kant Munjal as an Additional Director, in the category of "Non-executive Director", w.e.f. July 29, 2010.

4 As the Company's business activity falls within a single primary business segment viz 'Two-wheelers and its parts' and is a single geographical segment, the disclosure requirements
of Accounting Standard (AS-17) "Segment Reporting", notified by the Companies (Accounting Standards) Rules, 2006 are not applicable.

5 Information on investors complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended June 30, 2010
Opening balance Additions Disposal Closing Balance
Nil 271 267 4

6 Corresponding previous period figures have been regrouped, wherever necessary.

For and on behalf of the board

New Delhi BRIJMOHAN LALL MUNJAL

July 29, 2010 Chairman

Per our report attached

For A.F. FERGUSON & CO.
Chartered Accountants

Manjula Banerji
Partner

The Limited Review as required under Clause 41 of Listing Agreement has been completed by Statutory Auditors. The Limited Review Report for the quarter ended June 30, 2010
does not have any impact on the above Results.