Operations Summary

RNS Number:3175Y
SIEL Ld
2 February 2001


January 31, 2001



We wish to inform you that the Board of Directors in its meeting held on
30.1.2001 has approved the Audited Accounts of the Company for the year ended
30th September 2000.

The operations summary for the year under review is given below:

                                               Year Ended       Year Ended
                       Particulars              30.9.2000        30.9.1999
                                              (Rs/Millions)    (Rs/Millions)
-  Total Turnover (Net)                         4383.34           4918.35

-  Profit before depreciation and tax             83.39         (-)117.97

-  Depreciation                                  204.65            170.42

-  Profit before tax                          (-)121.26         (-)288.39

-  Tax Provisions                                     -                 -

-  Net Profit                                 (-)121.26         (-)288.39

-  Adjustment relating to an earlier year             -             45.50

-  Surplus in P&L A/c brought forward                 -            176.51

-  Investment Allowance Reserve written back      11.31              1.05

-  Debenture Redemption Reserve written back      54.62                 -

-  Transfer from General Reserve                   6.59             65.33

-  Dividends                                          -                 -

-  Transfer to Debenture Redemption Reserve           -                 -

-  Balance carried to Balance Sheet            (-)48.74                 -


The Annual General meeting shall be held on Tuesday, the 20th March, 2001 at New
Delhi.

This is for the information of the Stock Exchange and its members.