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REPORT TO THE BOARD OF DIRECTORS

REPORT TO THE BOARD OF DIRECTORS. FOURTH QUARTER ENDED 31 MAR 2009. BUSINESS HIGHLIGHTS, 1. FOR THE QUARTER ENDED 31 MAR 2009. Sales at Rs. 908.4 cr. Up 25.3% over corresponding quarter (i.e. 31 Mar 2008: Rs. 724.8 cr.) Exports at Rs. 257.3 cr.

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REPORT TO THE BOARD OF DIRECTORS

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  1. REPORT TO THE BOARD OF DIRECTORS FOURTH QUARTER ENDED 31 MAR 2009

  2. BUSINESS HIGHLIGHTS, 1 FOR THE QUARTER ENDED 31 MAR 2009 • Sales at Rs. 908.4 cr. • Up 25.3% over corresponding quarter (i.e. 31 Mar 2008: Rs. 724.8 cr.) • Exports at Rs. 257.3 cr. • Decrease of 30.8% over corresponding quarter (Rs. 385.5 cr.) • Manufactured exports (excluding cotton trading) up 21.9% compared to corresponding quarter: Rs. 250.0 cr. vs. Rs. 205.1 cr.) • Operating EBIDTA at Rs. 256.9 cr. • Up 42.4% over corresponding quarter (Rs. 180.4 cr.) • Operating EBIDTA is 28.3% of sales (versus 24.9% in corresponding quarter ) • Operating PAT at Rs. 71.2 cr. • Up 16.8% over corresponding quarter (Rs. 60.8 cr.) • PAT is 7.8% of sales (8.4% during corresponding quarter )

  3. BUSINESS HIGHLIGHTS, 2 FOR THE TWELVE MONTHS ENDED 31 MAR 2009 • Sales at Rs. 2,966.4 cr. • Up by 36.8% over year ended 31 Mar 2008 (Rs. 2,170.4 cr.) • Exports at Rs. 1,046.3 cr. • Up 0.9% (Rs. 1,036.9 cr. for the twelve months ended 31 Mar 2008) • Non traded exports reflect 31.9% year-on-year increase (Rs. 996.9 cr. Vs. Rs. 755.9 cr.) • Operating EBIDTA at Rs. 778.3 cr. • Up 42.1% over previous year (Rs. 547.8 cr.) • EBIDTA at 26.2% of sales (versus 25.2% for year ended 31 Mar 2008) • Operating PAT at Rs. 196.1 cr. • 16.9% increase compared to corresponding year (Rs. 167.7 cr.) • At 6.6% of sales (7.7% during year ended 31 Mar 2008)

  4. KEY DEVELOPMENTS IN THE QUARTER • The Continuous Polymerisation Plant at Rakholi / Saily, Silvassa for production of Partially Oriented Yarn from PTA and MEG was commissioned for commercial production in March 2009 • The Terry Towel Plant at Vapi was commissioned for commercial production in March 2009 • The Company was awarded the ‘Outstanding Exporter of the Year – Textiles’ award at the International Trade Awards 2008-09: presented by DHL CNBC TV 18 and powered by ICRA

  5. RIGHTS ISSUE • Rights Issue of 40.87 crore shares of face value Rs. 10.00 with a premium of Re. 1.00 were offered to existing shareholders in the ratio of 83 shares for every 40 shares held, aggregating to Rs. 449.60 crore • Issue opened on 31 Mar 2009 and closed on 22 Apr 2009 • Issue has been oversubscribed by 1.18 times • As per the objects of the Issue, the proceeds will be utilised for Long-term working capital funds margin and general corporate purposes • Rs. 92.50 crore of promoter application had been received before the issue had opened; the promoters’ entitlement is approximately Rs. 160 crore

  6. DIVISIONAL PERFORMANCE, 1 FOR THE QUARTER

  7. DIVISIONAL PERFORMANCE, 2 FOR THE TWELVE MONTHS Sales up across all heads (except cotton and job work), and up in the aggregate

  8. KEY FINANCIALS AT A GLANCE, 1

  9. KEY FINANCIALS AT A GLANCE, 2

  10. FOURTH QUARTER HIGHLIGHTS, 1

  11. FOURTH QUARTER HIGHLIGHTS, 2

  12. FOURTH QUARTER HIGHLIGHTS, 3

  13. FOURTH QUARTER HIGHLIGHTS, 4

  14. FOURTH QUARTER HIGHLIGHTS, 5

  15. FINANCIALS: ALOK STANDALONE, 1

  16. FINANCIALS: ALOK STANDALONE, 2

  17. FINANCIALS: ALOK STANDALONE, 3

  18. KEY RATIOS, ALOK STANDALONE

  19. FINANCIAL ANALYSIS, ALOK STANDALONE, 1 • No increase in share capital has taken place during the quarter • As on 31 Dec 2008, the following convertibles are outstanding: • 475 FCCBs (each of US$ 50,000), representing a future increase in share capital and premium account of Rs 14.42 crore and Rs. 88.78 crore, respectively • 10,000,000 warrants of face value of Rs. 10.00 each at a premium of Rs. 92.00 each, representing a future increase in share capital and premium account of Rs 10.00 crore and Rs. 92.00 crore, respectively

  20. FINANCIAL ANALYSIS, ALOK STANDALONE, 2

  21. FINANCIAL ANALYSIS, ALOK STANDALONE, 3

  22. FINANCIAL ANALYSIS, ALOK STANDALONE, 4

  23. PROJECT STATUS, 1

  24. PROJECT STATUS, 2

  25. ALOK INDUSTRIES LTD.: CAPITAL MARKET DATA, 1

  26. ALOK INDUSTRIES LTD.: CAPITAL MARKET DATA, 2

  27. ALOK INDUSTRIES LTD.: CAPITAL MARKET DATA, 3

  28. ECONOMIC OVERVIEW, 1 GLOBAL OVERVIEW • Global GDP is expected to contract by 1.7% in 2009: the first decline in world output on record • High-income countries are in deep recession this year, with OECD economies likely to contract 3% and other high-income countries 2% • GDP among developing economies should ease from an advance of 5.8% in 2008 to 2.1% • Volumes of world trade in goods and services are expected to drop 6.1% in 2009, with a significantly sharper contraction in trade volumes of manufactured products • Oil prices are expected to remain more-than 50% below 2008 levels, averaging $47 per barrel for the year, while the decline in non-oil commodity prices is forecast to remain in excess of 30% • In the Apr 2009 meeting in London, G20 announced a global stimulus package of US$1.1 trillion for economies around the world US ECONOMY • Personal consumption expenditure declined 3.9% in Q3 and 4.4% in Q4 2008 – the first consecutive quarterly decline since 1991 • Retail sales tumbled in Mar 2009 as job losses and tight credit left consumers cautious • 60.5% drop in Consumer Confidence Index (26 in Mar 2009; 65 in Mar 2008) • Consumer Price Index (CPI) inflation stood at (-)0.3% for the month of Mar 2009 (5.5% in Jul 2008) • US government is making every effort to revive the economy and growth, but it seems too early to expect the levelling out of economic activity • Expect 2009 to continue to be a difficult year for the US economy, with real GDP growth to remain negative till Q3 of 2009

  29. ECONOMIC OVERVIEW, 2 INDIA • Slow economic activity in Q3 and Q4 2008-09 ► real GDP estimates at 7.1% • Budget deficit may reach 7.3% of GDP in fiscal 2009-10 • Wholesale Price index (WPI) inflation down to 0.18%; Consumer Price Index (CPI) inflation still at double digits • RBI expects 2009-10 growth to be around 6.0%, based on normal monsoons for 2009-10 (as forecasted) • General election ongoing and will complete by 16 May ► a strong possibility of a coalition government • Weakening industrial activity, a current-account deficit, widening fiscal deficit and a further loosening of monetary policy expected to put pressure on the rupee in 2009 • Notwithstanding the current global recession, India's huge population of more than 1bn people will continue to become an increasingly important market for consumer goods in the forecast period. The large number of middle-class households offers considerable potential for manufacturers and retailers

  30. Thank you Alok Industries Limited Peninsula Towers, Peninsula Corporate Park Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013 Tel. +91 (22) 24966200 / 500, Fax: +91 (22) 2493 6078 E-mail: info@alokind.com; Website: www.alokind.com

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