Notes:-
	1	The Auditors in their audit report on the Company's Accounts for the year ended 31st March, 2008 and limited review report for the quarter ended 30th June, 2008, had commented on their inability to express any opinion on the recognition of Deferred Tax Asset (Rs. 546.57 crores upto 31st March, 2008 and Rs. 530.42 crores upto 30th June, 2008). However, based on the future profitability projections, the Company is virtually certain that there would be sufficient taxable income in the future, to claim the above tax credit.
	b.	The Company has a deferred tax charge of Rs.16.15 crores during the quarter (Rs. 77.04 crores during the year ended 31st March, 2008) which has been adjusted against Deferred Tax Asset recognised upto 31st March, 2008.
	2	National Mineral Development Corporation Limited (NMDC) vide its letter dated 18th October, 2008, has declared the revised provisional prices of Iron Ore Lumps and Fines supplied to the Company on or after 1st April, 2008.  In view of the dispute raised by the Company with respect to the legality of these provisional prices, the Company has not considered the impact of the above price increase amounting to Rs.100.32 crores (including Rs.36.69 crores for the quarter ended 30th June, 2008), in the accompanying unaudited financial results.
	3	The financial results for the quarter and half year ended 30th September 2008 have been adversely affected due to significant depreciation in the value of Indian Rupee against various foreign currencies. The resultant impact on financial results for the quarter and half year ended 30th September 2008 is Rs 360.42 crores and Rs 620.10 crores respectively as reported in serial nos. 2(g) and 6(b) above.
	4	There were no exceptional/extraordinary items during the respective periods reported above.
	5	Basic and Diluted EPS as stated in Serial No.12 above, have been computed after considering the impact of proportionate arrear dividends on cumulative redeemable preference shares on the profit for the respective periods in terms of Accounting Standard 20
	6	Previous period/ year figures have been re-grouped / re-arranged wherever necessary.
	7	At the beginning of the September, 2008 quarter, there were no complaints from investors pending for disposal. During the quarter, 204 complaints were received and these were appropriately disposed off. Thus, there were no complaints from investors pending for disposal at the end of  30th September, 2008 quarter.
	8	The Statutory Auditors have carried out a limited review of the Unaudited Financial Results (Standalone) for the quarter ended 30th September, 2008.
	9	The above Unaudited Financial Results (Standalone) for the quarter ended 30th September 2008 were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 31st October, 2008.