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With reference to the earlier announcement dated June 10, 2008, regarding the Board of Directors of the Company had approved the transfer / sale of its Sponge Iron Manufacturing Unit “Vikram Ispat”, situated at Village; Salav, District: Raigad, Maharashtra (”Business Undertaking”), to a subsidiary to be formed, by way of “Slump Sale” pursuant to a Scheme of Arrangement to be sanctioned by the Court under Sections 391-394 of the Companies Act, 1956, Grasim Industries Ltd has informed BSE that the Company has incorporated a new subsidiary “Vikram Sponge Iron Ltd” for the said transfer of the Business Undertaking by way of “Slump Sale”.

Grasim Industries Ltd has informed BSE that the Board of Directors of the Company at it meeting held on June 10, 2008, inter alia, has approved the transfer / sale of its sponge iron manufacturing unit called “Vikram Ispat”, situated at Village Salav, District Raigad, Maharashtra (”Business Undertaking”) to a subsidiary of the Company to be formed (”Subsidiary”), by way of “slump sale” pursuant to a Court sanctioned scheme of arrangement under Sections 391-394 of the Companies Act, 1956 for a consideration of Rs 1,030 Crores to be paid in cash by the Subsidiary to the Company.

The necessary funds for payment of the cash consideration by the Subsidiary to the Company (Grasim) will be infused in the Subsidiary by Welspun Power and Steel Ltd, having its registered office at Village Versamedi, District Kutch, Gujarat (”Welspun”) by a combination of equity and debt. Consequent to infusion of funds in the Subsidiary by Welspun and payment of consideration by the Subsidiary to the Company (Grasim), the Business Undertaking of Vikram Ispat will get transferred to Welspun.

The transaction is expected to be completed within the next six months.

Grasim Industries Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 24, 2008 to August 02, 2008 (both days inclusive) for the purpose of payment of dividend @ Rs 30/- per Equity share for the year ended March 31, 2008 as recommended by the Board of Directors of the Company at its meeting held on April 29, 2008.

Grasim Industries Ltd has informed BSE about the following Outlook:

“Going forward; VSF and Cement will continue to be the growth enablers. Shoring up of its
leadership position in the VSF and Cement sectors, cost optimization, maximization of
asset productivity and prudent financial management will continue to be the Company’s
hallmarks. The prospects for the Company continue to be positive.”

Grasim Industries Ltd has announced the following Audited results for the quarter & year ended March 31, 2008:

The results for the Quarter ended March 31, 2008

The Company has posted a net profit of Rs 6673.70 million for the quarter ended March 31, 2008 as compared to Rs 4744.90 million for the quarter ended March 31, 2007. Total Income has increased from Rs 25521.80 million for the quarter ended March 31, 2007 to Rs 28610.90 million for the quarter ended March 31, 2008.

The results for the Year ended March 31, 2008

The Company has posted a net profit of Rs 22326.00 million for the year ended March 31, 2008 as compared to Rs 15358.10 million for the year ended March 31, 2007. Total Income has increased from Rs 88534.70 million for the year ended March 31, 2007 to Rs 105928.90 million for the year ended March 31, 2008.

The Consolidated results are as follows:

The consolidated results for the Quarter ended March 31, 2008

The Group has posted a net profit (after minority share) of Rs 8807.70 million for the quarter ended March 31, 2008 as compared to Rs 5584.20 million for the quarter ended March 31, 2007. Total Income has increased from Rs 41676.90 million for the quarter ended March 31, 2007 to Rs 48320.20 million for the quarter ended March 31, 2008.

The consolidated results for the Year ended March 31, 2008

The Group has posted a net profit (after minority share) of Rs 28914.40 million for the year ended March 31, 2008 as compared to Rs 19673.90 million for the year ended March 31, 2007. Total Income has increased from Rs 143871.80 million for the year ended March 31, 2007 to Rs 174361.90 million for the year ended March 31, 2008.

Grasim Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 29, 2008, inter alia, to transact the following:

1. To consider and approve the audited accounts of the Company for the year ended March 31, 2008; and.

2. To recommend payment of dividend on Equity shares for the year ended March 31, 2008.

Further the Company has informed that, as the Company is declaring its Audited Annual Results within 3 months from the close of the financial year, the Company will not publish the unaudited financial results for the last quarter ended on March 31, 2008.

Grasim Industries Ltd has informed BSE that further to commission of Line Four at its Birla Cellulosic Viscose Staple Fibre (VSP) Plant at Kharach (Gujarat), the Unit has now commissioned Line Three at the same location having annual VSF Capacity of 31,940 MT per annum. With the above expansion of capacity, the total VSF capacity at Company’s Birla Cellulosic Unit at Kharach, is 1,27,750 MT per annum.

The Company’s total VSF capacity post above expansion is 3,33,975 MT per annum.

Grasim Industries Ltd has informed BSE that the Company has commissioned its following plants:

a. 3.3 million TPA capacity Clinkerisation Plant at its Aditya Cement Unit II at Sambhupura (Rajasthan);

b. A new 1.3 million TPA Grinding Unit at Panipat (Haryana); and

c. 23 MW Captive Thermal Power Plant at its Vikram Cement Unit at Jawad (M.P).

With reference to the earlier announcement dated December 05, 2007 regarding the Board of the Company at its meeting held on December 04, 2007 had approved the sale of its entire holding of 75,816,681 equity shares representing 53.63% of the capital of Shree Digvijay Cement Company Ltd (SDCCL) to CIMPOR Inversiones SA (”Cimpor”), Calle Brasil, 56-36024 Vigo, Spain, Grasim Industries Ltd has informed BSE that with the completion of aforesaid sale on March 25, 2008, SDCCL has ceased to be a subsidiary of the Company.