We posted yet another year of impressive results testifying to the robustness of our corporate strategy of creating multiple drivers of growth. The Company’s performace is even more satisfying when viewed in the light of the challenging business environment of the cigarette industry, incubation costs of new FMCG business and the rural marketing initiatives and gestation costs of investments in the Paperboards business.

Gross Turnover for the year 2006-07 grew by 19.05% to Rs. 19,315 crores driven by good topline growth across all our businesses. Pre-tax profit (before exceptional items) increased by 20.1% to Rs. 3,927 crores, while post-tax profit (before exceptional items) at Rs. 2,700 crores registered a growth of 18.40%.*