Vardhman Industries Ltd has informed BSE that during the previous year the Company decided to hive off its Power Plant and SMS Unit setup in the State of Jharkhand for which March 01, 2006 has been fixed as the appointed date. The Company has compiled the Annual Accounts for the financial year ended March 31, 2008 (segregating the same into unit being hived off and units remaining with the Company), the profit / loss pertaining to the unit being hived off has been transferred to the Special Purpose Vehicle (SPV) Company i.e. Zoom Vallabh Steel Ltd.