Financial Highlights:

• For quarter ended March 2007 the topline of the company increased by 67% to Rs 121.45 crore compared to corresponding previous period. The OPM improved by 290 bps to 10.9% due to strengthening of Rupee against Dollar. The company’s bottomline increased by 78% to Rs 6.71 crore in the quarter ended March 2007.

• For year ended March 2007 the topline of the company increased by 54% to Rs 429.23 crore compared to previous year. The OPM improved marginally by 20 bps to 10.8%. The company’s bottomline increased by 60% to Rs 22.52 crore in the year ended March 2007 compared to previous year.

Other Highlights:

• The company expects a cumulative annual growth rate of 35% in its topline for next two to three years with effective tax rate in the range of 18-20%.

• The total debt of the company as on 31 st March 2007 stood at Rs 146 crore.

• The company implemented SAP in FY 2007 at a cost of Rs 3 crore.

• The company’s realizations for laminates increased by 11% to Rs 406 per sheet for year ended March 2007 compared to corresponding previous year and for plywood it increased by 20% to Rs 160 per sheet.

• The company increased its dealer/ distributor/Sub dealer/ Retailers network to 7100 during FY 2007 from 3700 in FY 06.

• The company has proposed registration of the Uttarakhand facility with the United Nations Framework Convention on Climate Change, raising a lucrative carbon credit trading opportunity.

• The company has a largest market share of 25% in plywood and 15% in laminates in the organized market.

• The company’s expenditure on advertising and promotion increased by 43% to Rs 14.94 crore in FY07 compared to Rs 10.45 crore in FY06.

• The capacity utilization for plywood division stood at 77% whereas for laminate division it stood at 115%. The company plans to enhance production from its plywood units and achieve capacity utilization in excess of 90%.

• The working capital during FY 07 came down to 43 days from 72 days in FY 06.

• Exports formed 8.32% of the total revenue in FY 07. The company is setting up a Singapore office to cater to the growing ASEAN interior infrastructure market.