Above unaudited figures were taken on record by the Board of Directors in their meeting held on 20.1.2004.

The previous accounting year figures are for nine months ended 31st March 2003.

The Company had been served with a demand note of Rs. 16.62 crores in connection with import of Drawing/Designs/Documents. An appeal against the said order was filed with CEGAT and CEGAT had confirmed the customs demand of Rs. 12.62 crores and waived of Rs. 2.00 crores being redemption fine and Rs. 1.00 crore from penalty against Rs. 2.00 crores. The Company has filed a civil appeal in the Hon'ble Supreme Court against the order of CEGAT and Customs and is pending.

The Company has filed a reference to BIFR on the basis of B/S for FY 2000-01and our reference has been registered by BIFR on March 20th, 2002 as case no. 128/02. BIFR on 9.9.2003 has declared GIVO Limited a sick company under the provisions of SICA. GIVO is in the process of complying with the directions of BIFR.

(Para 3a of the Auditors' report) The Management has taken steps for recovery of overdue loans and advances. As such, the Management is confident of recovery of said amount and no provision has been made in the books of accounts.

(Para 3b of the Auditors' report) Financial Institutions have filed a suit for Recovery of its outstanding in the Debts Recovery Tribunal. The Company is in the process of negotiating an OTS proposal with the Financial Institutions. As a part of such negotiations, the Company has not provided interest on loans from the FI's/Banks/ECB in the quarter ended Dec. 31, 2003 to the tune of Rs. 249.88 lacs. The cumulative amount not provided as on Dec. 31, 2003 is Rs. 3568.89 lacs. The FI's had sent a notice u/s 13 (2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance, 2002. The Company has filed a writ petition in the Hon'ble High Court challenging the Constitutional validity of the ordinance and the matter has been adjourned sine die.

(Para 3c of the Auditors' report) The Company has imported Plant and Machinery under EPCG scheme. The Company has been able to refix the export obligation on the basis of four times of CIF value of imports from DGFT. GIVO is in the process of completing the export obligation.

The Sales Tax Exemption available to the company expired on 30.08.03. Stock Transfers since that date is no more allowed to the company. Hence all dispatches to consignee thereafter have been treated as Sales

Segmentation of Expenditure, Net Results, and Capital Employed is not possible due to the nature of business

Status of investors' complaints for the quarter ended December 31, 2003

GIVO LIMITED
Regd Office: 42nd Mile Stone, Kherki Daula, Gurgaon, Haryana - 122001
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st DECEMBER, 2003
	1	2	3	4	5
PARTICULARS	3 months ended 31st Dec 2003	Corresponding 3 months in the Previous year	Year to date figures for Current Period (Apr'03 - Dec'03)	Year to date figures for Previous Year (Apr'02 - Dec'02)	Previous Accounting Year (09 Months) (1.7.2002 to 31.3.2003) (Audited)

1. Net Sales / Income from Operations	53,148	54,953	94,778	114,978	124,025

2. Other Income	5,807	10,875	18,041	27,562	25,646
3. Total Expenditure
a. Consumption of Raw Materials	22,207	13,921	43,632	55,748	69,254
b. Staff Cost	10,232	8,901	26,288	25,583	24,388
c. Other Expenditure
- Selling, Administrative and Distribution Expenses	10,676	13,390	33,038	34,510	44,519

4. Interest	408	620	1,142	3,115	437
5. Depriciation	8,265	7,693	24,791	23,321	24,072
6. Profit(+)/ Loss(-) before Tax (1+2-3-4-5)	7,168	22,543	16,072	263	12,999
7.Provision for Taxation	-	-	-	-	-
8. Net Profit(+)/ Loss(-)(6-7)	7,168	22,543	16,072	263	12,999
9. Paid up Equity Share Capital	522845	522789	522845	522789	522845
(Face Value of per Equity Share is rs. 10/- each)
10. Reserves excluding revaluation reserves	-	-	-	-	-
11. Basic & Diluted EPS
Basic EPS	0.14	0.43	0.31	0.01	0.25
Diluted EPS	0.12	0.39	0.28	0.00	0.22
12. Aggregate of Non Promoter Share Holding
Number of Shares	17373800	17373800	17373800	17373800	17373800
Percentage of Share Holding	33.14%	33.14%	33.14%	33.14%	33.14%


Above unaudited figures were taken on record by the Board of Directors in their meeting held on 20.1.2004. The previous accounting year figures are for nine months ended 31st March 2003. The Company had been served with a demand note of Rs. 16.62 crores in connection with import of Drawing/Designs/Documents. An appeal against the said order was filed with CEGAT and CEGAT had confirmed the customs demand of Rs. 12.62 crores and waived of Rs. 2.00 crores being redemption fine and Rs. 1.00 crore from penalty against Rs. 2.00 crores. The Company has filed a civil appeal in the Hon'ble Supreme Court against the order of CEGAT and Customs and is pending. The Company has filed a reference to BIFR on the basis of B/S for FY 2000-01and our reference has been registered by BIFR on March 20th, 2002 as case no. 128/02. BIFR on 9.9.2003 has declared GIVO Limited a sick company under the provisions of SICA. GIVO is in the process of complying with the directions of BIFR. (Para 3a of the Auditors' report) The Management has taken steps for recovery of overdue loans and advances. As such, the Management is confident of recovery of said amount and no provision has been made in the books of accounts. (Para 3b of the Auditors' report) Financial Institutions have filed a suit for Recovery of its outstanding in the Debts Recovery Tribunal. The Company is in the process of negotiating an OTS proposal with the Financial Institutions. As a part of such negotiations, the Company has not provided interest on loans from the FI's/Banks/ECB in the quarter ended Dec. 31, 2003 to the tune of Rs. 249.88 lacs. The cumulative amount not provided as on Dec. 31, 2003 is Rs. 3568.89 lacs. The FI's had sent a notice u/s 13 (2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance, 2002. The Company has filed a writ petition in the Hon'ble High Court challenging the Constitutional validity of the ordinance and the matter has been adjourned sine die. (Para 3c of the Auditors' report) The Company has imported Plant and Machinery under EPCG scheme. The Company has been able to refix the export obligation on the basis of four times of CIF value of imports from DGFT. GIVO is in the process of completing the export obligation. The Sales Tax Exemption available to the company expired on 30.08.03. Stock Transfers since that date is no more allowed to the company. Hence all dispatches to consignee thereafter have been treated as Sales Segmentation of Expenditure, Net Results, and Capital Employed is not possible due to the nature of business Status of investors' complaints for the quarter ended December 31, 2003
	Pending as at 1.10.2003	Received during the qurter	Attended during the quarter	Pending as at 30.6.2005
	NIL	Two	Two	NIL

Place: Gurgaon Date: 20/1/2004		For and on behalf of the Board Mrs. Nadira Chaturvedi (Executive Director)