45IT Comw.bk.a.26

RNS Number:0386F
SIEL Ltd
4 February 2000



To: Company Announcements

We wish to inform you that the Board of Directors in its meeting held on
31.1.2000 has approved the Audited Accounts of the Company for the year ended
30th September 1999.

The operations summary for the year under review is given below:

PARTICULARS                          YEAR ENDED          YEAR ENDED
                                     30.9.1999           30.9.1998
                                    (Rs/Millions)       (Rs/Millions)


Total Turnover (Net)                  4918.35             4990.35

Gross Profit before
depreciation and tax                (-)117.97              323.07

Depreciation                           170.42              104.58

Profit before tax                   (-)288.39              218.49

Tax Provisions                          -                   55.50

Net Profit                          (-)288.39              162.99

Adjustment relating to
an earlier year                         45.50                 -

Surplus in P&L
A/c brought forward                    176.51              111.51

Investment Allowance
Reserve Written back                     1.05                  -

Debenture Redemption
Reserve written back                     -                   9.33

Transfer from General Reserve           65.33                 -

Dividends                                -                    -

Transfer to Debenture
Redemption Reserve                       -                 107.32

Surplus in P&L A/C
carried forward                          -                  176.51

The Annual General Meeting shall be held on Wednesday, the 22nd March, 2000 at
New Delhi. 

P.K. Bhalla
Sr. Vice President & 
Company Secretary

END    


FR ILFLSFVISIII

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