Investor Relations

Shareholding Pattern for the quarter ended 30th September 2003

Sr.No	Category	No.of Shares held	Percentage of shareholding
A]	Promoter's Holding
1.	Promotors'
	Indian Promoters	13760843	74.86
	Foreign Promoters	0	0.00
2.	Persons acting in concert #	0	0.00
	Sub-total	13760843	74.86
B]	Non-Promoters Holding
3.	Institutional Investors
a)	Mutual Funds and UTI	6800	0.04
b)	Banks, Financial Institutions, Insurance Cos. (Central/State Government Institution/ Non- government Institutions)	155727	0.85
c)	FIIs	0	0.00
	Sub-total	162527	0.88
4.	Others
a)	Private Corporate Bodies	456554	2.48
b)	Indian Public	3493342	19.01
c)	NRIs / OCBs	100015	0.54
d)	Any other*
	Independent Directors & Relatives	7899	0.04
	Other Directors and Relatives	3000	0.02
	Trusts	396700	2.16
	Sub-total	4457510	24.25
	GRAND-TOTAL	18380880	100.00
	Total Foreign Holdings	100015	0.54
*The Company is a professionally managed company and the shareholding of the Directors in their personal capacity does not constitute "the Promoter's holding". Hence, the same is classified under the head "Any Other".

Details of shareholders holding more than 1% of the shares of the company.

SR. NO. NAME OF THE HOLDER NO. OF SHARES HELD % OF SHAREHOLDING CATEGORY 1. Tata Sons Ltd. 13634393 74.18 Indian Promoter 2. N. A. Palkhivala 396690 2.16 Indian Public (Trustee - TIL Employee Share Participation Trust). 3. Coopthall Mauritius Investment Ltd. 213900 1.16 F.I. I.