December 2006 Quarter Results

NOTES

1. Investor's complaints at the beginning of the quarter was nil. During the quarter 6 complaints were received and disposed off accordingly, no complaint was pending for disposal at the end of the current quarter.
   
   
2. The Company is following AS-15 "Retirement Benefits" issued by ICAI in 1995. In December 2006, Central Government has notified the Companies (Accounting Standards) Rules 2006. Accordingly the revised AS-15 - "Employees Benefits" would be applicable for accounting periods commencing on or after 7th December 2006. Company would be recognising the liability of employee benefits strictly as per revised AS-15 - "Employee Benefits" from the applicable accounting year.
   
   
3. Previous year / quarter figures have been regrouped / recast wherever necessary to make them comparable.



4. The results for the quarter ended 31st December 2006 have been subjected to limited review by the Auditors and were taken on record at the Board of Directors meeting held on 29th January 2007.

For ESTER INDUSTRIES LIMITED
GURGAON	(ARVIND SINGHANIA)
29th January 2007	CHAIRMAN & MANAGING DIRECTOR