Additional Information

1. Previous year/ period's figures are regrouped wherever necessary.

2. Directors recommend a Dividend of Rs. 3.50/- Per Equity share (175 %), subject to approval of shareholders.

3.The above results were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on May 20, 2008.

4. During the quarter, no investor complaint was received. There were no investor complaints pending for redressal as at the commencement and end of the quarter.

5(a). Company had issued 0.5% Foreign Currency Convertible Bonds ( FCCB) due 2010 in two Tranches ( Tranche 1 & 2), each having varied rights and obligations , aggregating US $ 60 million each, convertible at an initial price of Rs.336.11 and Rs. 384.12 per share of Rs.2/- each respectively subject to adjustments specified in the offering circular dated 15th April 2005. In view of the current market price of the Company's equity shares being less than the Floor price for exercise in respect of both the Tranches of the Bonds, the option embedded in the said Bonds to subscribe to Equity shares is, at present, antidilutive.

5(b). During the previous year , the Company has further issued Zero Coupon Foreign Currency Convertible Bonds ( FCCB) in two tranches (Viz. Tranche A and Tranche B) amounting to USD 40.00 million and USD 39.90 million due 2012 and 2013 respectively each having varied rights and obligations and optionally convertible at an initial price of Rs.604.33 and Rs.690.32 per share of Rs.2/- each respectively subject to adjustment specified in the offering circular dated 24th April, 2006. Since the current market price of the Company's Equity shares being less than the Floor price in respect of both the Tranches of the Bonds, the option embedded in the said Bonds to subscribe to Equity Shares is, at present, antidilutive.

5(c). Pending utilisation, funds raised out of FCCB and GDR have been temporarily placed in Fixed Deposits and investments which generated an income aggregating Rs.106.05 million during the quarter and Rs. 522.67 million for the year. ( Previous year Rs.188.54 million and Rs. 696.47 million respectively ).

6. During the year ,the Company has made provision for the employee benefits in accordance with the AS-15( revised) . Further, in accordance with the transtional provision, the additional provision towards employee benefits amounting to Rs. 251.00 million net of deferred tax assets ) has been adjusted from General Reserve.

7. The Company, as a step to reorganise and restructure its holdings in its Global ventures has, during the year, sold its interest in BF Beteilingungs GmbH, a wholly owned subsidiary to CDP BF GmbH, also a wholly owned subsidiary, at a fair value determined by a valuer. Consequently, the Company has recognised a profit of Rs.303.47 million.

8. The consolidated financial statements include results of all the subsidiaries of Bharat Forge Limited and their Subsidiaries, The names, country of incorporation or residence, proportion of ownership interest and reporting dates are as under:

Mumbai
Dated : May 20, 2008.