March 2005 Quarter Results

NOTES

1. The Board of Directors have proposed payment of Dividend of Rs. 0.50 Per share (10.00% on equity share of par value of Rs. 5/-) for the year 2004-05 subject to necessary approvals.



2. To improve Value Addition, the Company is installing a Film Metallizer which is expected to commence production in October 2005.
   
   
3. Investor's complaints received and disposed of during the quarter under report: (N0s.)
   
   Complaints pending at the beginning of the quarter:         4
   Complaints received during the quarter:                         14
   Complaints disposed of during the quarter:                     18
   Complaints lying unresolved at the end of the quarter:     NIL
   
   
4. Previous year / Current year / quarter figures have been regrouped / recasted wherever necessary to make them comparable.
   
   
5. The above results were taken on record at the Board of Directors meeting held on 13th June 2005.

For ESTER INDUSTRIES LIMITED