Profit after tax
Our profit after tax was = 506.60 million for the nine months ended December 31, 2020.

Our profit after tax came to came to 4.92%, as a percentage of our total income, for the nine months ended
December 31, 2020.

Fiscal 2020 compared to Fiscal 2019
Total Income

Our total income decreased by % 3,305.86 million, or 18.05%, from = 18,316.43 million in Fiscal 2019 to =
15,010.57 million in Fiscal 2020, on account of the factors discussed below.

Revenue from operations

Our revenue from operations decreased by % 3,255.42 million, or 17.91%, from = 18,180.07 million in Fiscal 2019
to = 14,924.65 million in Fiscal 2020, primarily as a result of decrease in the sales of our products and services
during this period.

Our revenue from operations accounted for 99.26% of our total income in Fiscal 2019, compared to 99.43% in
Fiscal 2020.

Revenue from sale of products

Our revenue from sale of products decreased by 2 1,234.59 million, or 11.12%, from 2 11,103.21 million in Fiscal
2019 to 2 9,868.62 million in Fiscal 2020, primarily as a result of decrease in domestic sales by 10.63% and a
decrease in export sales by 13.98%, as discussed below.

Our revenue from sale of products accounted for 60.62% of our total income in Fiscal 2019, compared to 65.74%
in Fiscal 2020.

Domestic and export mix

Our revenue from domestic sales decreased by = 1,008.20 million, or 10.63%, from 2 9,483.59 million in Fiscal
2019 to 2 8,475.39 million in Fiscal 2020, primarily as a result of decrease in domestic sales to customers in the
Automotive - Powertrain and Others and Automotive - Aluminium Products segments and a decrease in product
sales in our Industrial and Engineering segment.

Our revenue from export sales decreased by = 226.39 million, or 13.98%, from 2 1,619.62 million in Fiscal 2019
to = 1,393.23 million in Fiscal 2020, primarily as a result of decrease in export sales in 2019, which was partially
offset by increase in sale to our Industrial and Engineering segment customers.

Sale of Services

Our revenue from sale of services decreased by 2 1,481.77 million, or 27.77%, from % 5,336.78 million in Fiscal
2019 to % 3,855.01 million in Fiscal 2020, primarily as a result of decrease in machining charges for the commercial
vehicles, farm equipment and construction sub-segments of the Automotive - Powertrain and Others segment as a
result of decline in sales in the automotive industry.

Our revenue from sale of services accounted for 29.14% of our total income in Fiscal 2019, compared to 25.68%
in Fiscal 2020.

Other operating revenues

Our other operating revenues decreased by % 539.06 million, or 30.98%, from % 1,740 million in Fiscal 2019 to
2,201.02 million in Fiscal 2020, primarily as a result of a decrease in income from sale of swarf and others and a
decrease in EPCG income on fulfilling export obligation, commensurate with reduced product sales and exports

during this period, as discussed above.

Our other operating revenues accounted for 9.50% of our total income in Fiscal 2019, compared to 8.00% in Fiscal
2020.

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