RAIN CALCINING LIMITED

6-3-571/2, Floor 2, "Rockvista", Rockdale Estate, Somajiguda, Hyderabad 500 082.

Audited Financial Results for the quarter/period ended December 31, 2002
S# 1. 2. 3. Particulars Net Sales/Income from Operations Other Income (including insurance claims) Total Income Total Expenditure (a) (Increase)/Decrease in stock (b) Materials Consumed (c) Staff Cost (d) Other Expenditure Interest Depreciation and amortization Profit before Tax Provision for Current Year's Taxation Provision for Deferred Taxation Net Profit Paid up Equity Share Capital (Face value Rs.10/-) Reserves excluding Revaluation Reserve Basic Earnings per share (Not annualized) - Rs. Aggregate of Non Promoter Shareholdings: - Number of Shares (in lakhs) - Percentage of Shareholding (Rs. in lakhs) 3 Months Ended December 31 9 Months ended December 31 Year ended 2002 2001 2002 2001 March 31, 2002 7,046 48 7,094 5,022 (970) 5,058 109 825 575 506 991 31 105 855 12,949 123 0.66 579.13 44.72 5,297 86 5,383 3,574 (1,197) 3,793 92 886 786 503 520 19 501 12,949 123 0.39 579.13 44.72 23,114 116 23,230 17,028 (847) 13,833 348 3,694 1,812 1,516 2,874 137 315 2,422 12,949 123 1.87 579.13 44.72 20,217 139 20,356 14,785 (371) 11,993 282 2,881 2,750 1,564 1,257 55 1,202 12,949 123 0.93 579.13 44.72 29,157 130 29,287 21,797 (228) 17,011 368 4,646 3,264 2,007 2,219 648 1,571 12,949 123 1.21 579.13 44.72

4. 5. 6. 7. 8. 9. 10. 11. 12. 13.

Segment wise Revenue, Results and Capital Employed for the quarter ended/period December 31, 2002
S# 1. Particulars Segment Revenue: (a) Calcined Petroleum Coke (b) Power (c) Trading Division Total Less: Inter segment revenue Net Sales/Income from Operations Segment Results: Profit (before tax and interest from each segment) (a) Calcined Petroleum Coke (b) Power (c) Trading Division Total Less: Interest (net) Less: Unallocable expenditure Total Profit before tax Segment Capital Employed: (a) Calcined Petroleum Coke (b) Power (c) Trading Division (d) Unallocable assets less liabilities Total (Rs. in lakhs) 3 Months Ended December 31 9 Months ended December 31 Year ended 2002 2001 2002 2001 March 31, 2002 3,633 3,134 366 7,133 87 7,046 2,346 2,877 154 5,377 80 5,297 14,000 8,392 962 23,354 240 23,114 11,311 8,994 154 20,459 242 20,217 16,856 12,317 312 29,485 328 29,157

2.

443 950 63 1,456 350 115 991 5,238 6,957 618 259 13,072

330 950 20 1,300 647 133 520 3,705 5,424 25 3,918 13,072

2,166 2,148 217 4,531 1,263 394 2,874 5,238 6,957 618 259 13,072

1,432 2,328 20 3,780 2,143 380 1,257 3,705 5,424 25 3,918 13,072

2,446 3,983 50 6,479 2,659 1,601 2,219 2,929 7,011 224 2,908 13,072

3.

Notes: 1. Figures of the corresponding previous quarter/period have been regrouped wherever necessary. 2. The same accounting policies are followed in the interim financial statements for the quarter ended December 31, 2002 as those followed for the annual financial statements for the year ended March 31, 2002. 3. Andhra Pradesh Electricity Regulatory Commission (APERC) vide its order dated March 24, 2002, determined that, effective April 1, 2002, the private power generators shall pay the wheeling charges at 28.4% in kind and 50 paise in cash per unit of the energy wheeled as against the wheeling charges of 15% to 20% (depending upon the voltage level of the consumer) in kind of the energy wheeled as provided in the Modified Power Wheeling and Purchase Agreement dated November 4, 1994 between the Company and Andhra Pradesh State Electricity Board (now APTransco). The Company has disputed the said order before the Hon'ble High Court of Andhra Pradesh and as the matter is subjudice, the disputed differential wheeling charges estimated at Rs.2,212.10 lakhs up to December 31, 2002 is treated as contingent liability. 4. The above results were reviewed by the Audit Committee and approved by the Board of Directors in its meeting held on January 25, 2003. By Order of the Board

Hyderabad January 25, 2003

N. JAGAN MOHAN REDDY Managing Director