Dear Sir,
In reference to above, we wish to state that Board of Directors in its meeting held on 9th May, 2017 recommended dividend at the rate of Rs. 5/- per share on then existing paid up share capital (i.e. Rs. 75,00,00,0440). Further, in the same meeting the Board of Directors also recommended issue of Bonus Shares in the ratio of 1:1 (One share for one share held).

In view of above, we wish to clarify that the Board has declared the dividend on pre- bonus issue share capital (i.e. Rs. 75,00,00,0440). Further, after bonus issue the paid up capital of Company has become Rs. 15,00,00,00,880. As a result the dividend shall be adjusted accordingly i.e. Rs. 2.5/- per share on current paid up capital.

This is for your kind reference.