Investor Presentaiton

Highlights of Q4/FY08 EBITDA margins - 12.6% during Q4 v/s 14.8 for 9M Major reasons for fall in margins are ■Lower turnover, hence higher % of fixed cost ( Q4 - Rs. 20.74 billion v/s Q3 - Rs. 25.00 billion) Adverse mix change BAJAJ Distinctly Ahead Mark to market provision on forward cover, Rs 160 million 12

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