NIRMA LTD Regd Office : Nirma House, Ashram Road, Ahmedabad - 380 009 UNAUDITED FINANCIAL RESULTS (STANDALONE)

FOR THE QUARTER ENDED 31ST DECEMBER, 2011 Quarter Quarter ended ended 31.12.2011 30.09.2011 (Unaudited) (Unaudited) 99,943 99,783 240 90 ` In Lacs Quarter Cumulative Cumulative Previous ended up to up to year ended 31.12.2010 31.12.2011 31.12.2010 31.03.2011 (Unaudited) (Unaudited) (Unaudited) (Audited) 80,211 288,191 240,574 324,665 4 338 13 60

Sr. No 1 (a) (b) 2

Particulars

Net Sales/Income from Operations Other Operating Income

Expenditure (a) (b) (c) (d) (e) (f) (Increase)/decrease in stock in trade and work in progress Consumption of raw materials Purchase of traded goods Employee cost Depreciation Other expenditure i) Power & fuel ii) Others (g) Total 4,267 39,732 1,714 4,360 5,484 34,642 14,572 20,070 90,199 9,984 635 10,619 922 9,697 1,222 10,919 2,959 7,960 7,960 7,957 2,134 7,957 (1,733) 44,461 3,999 3,707 5,573 36,669 14,902 21,767 92,676 7,197 666 7,863 480 7,383 (4,811) 2,572 438 2,134 2,125 31,747 2,396 3,609 6,963 30,379 12,538 17,841 77,219 2,996 250 3,246 798 2,448 553 3,001 300 2,701 2,701 7,957 (6,570) 128,119 9,459 11,658 16,595 105,242 42,644 62,598 264,503 24,026 1,649 25,675 2,551 23,124 (3,702) 19,422 4,196 15,226 15,226 7,957 1,019 100,605 3,347 9,737 20,949 91,327 36,818 54,509 226,984 13,603 617 14,220 2,371 11,849 826 12,675 2,897 9,778 9,778 7,957 (3,328) 138,168 8,312 13,314 31,433 126,069 50,653 75,416 313,968 10,757 1,430 12,187 3,148 9,039 (1,364) 7,675 271 7,404 7,404 7,957 259,388

3 4 5 6 7 8 9 10 11 12 13 14 15 16

Profit from operations before other income, interest and exceptional items (1-2) Other Income Profit before interest and exceptional items (3+4) Interest Profit after interest but before exceptional items (5-6) Exceptional item - Notional exchange (Loss)/Gain, Depreciation provided of earlier years.Refer Note No.4 Profit (+)/Loss(-) from Ordinary Activities before tax (7+8) Tax expenses Net Profit(+)/ Loss(-) from ordinary activities after tax (9-10) Extraordinary item (Net of tax expenses rupees) Net Profit(+)/ Loss(-) for the period (11-12) Paid up equity share capital (Face value of ` 5 each) Reserve excluding revaluation reserves as per balance sheet of previous accounting year Earnings per share (EPS) (a) Basic and diluted EPS before extraordinary item for the period, for the year to date and for the previous year (not annualised) (b) Basic and diluted EPS after extraordinary item for the period, for the year to date and for the previous year (not annualised) Public shareholding Number of shares Percentage of shareholding

5.00

1.34

1.70

9.57

6.14

4.65

5.00

1.34

1.70

9.57

6.14

4.65

17

14608581 9.18%

14608581 9.18%

36326362 22.83%

14608581 9.18%

36326362 22.83%

14608581 9.18%

18

Promoters shareholding and promoter group shareholding (a) Pledged/Encumbered Number of shares Percentage of shares (as a % of the total shareholding of promoter and promoter group) Percentage of shares (as a % of the total share capital of the company) Non-encumbered Number of shares Percentage of shares (as a % of the total shareholding of promoter and promoter group) Percentage of shares (as a % of the total share capital of the company) Nil N.A. N.A. Nil N.A. N.A. Nil N.A. N.A. Nil N.A. N.A. Nil N.A. N.A. Nil N.A. N.A.

(b)

144533701 100 90.82%

144533701 100 90.82%

122815920 100 77.17%

144533701 100 90.82%

122815920 100 77.17%

144533701 100 90.82%

Notes : 1 2 3 4

The above financial results were reviewed by the Audit Committee at their meeting held on February 02, 2012 and approved by the Board of Directors at their meeting held on February 03, 2012. The Statutory Auditors of the Company have carried out "Limited Review" of the above financial results. There was 1 pending complaint at the beginning of the quarter. During the quarter ended December 2011, the Company had received 4 complaints, 5 complaints were disposed off and no complaint was outstanding at the end of quarter. Pursuant to the Companies (Accounting Standards) Amendment Rules, 2011 vide GSR 914 (E) dated 29th December, 2011, the Company has exercised the option of amortising the foreign exchange fluctuation loss/(gain) on the long term foreign currency monetary items over the balance period of such items. Due to this change, the profit before tax for the nine months ended on 31.12.2011 is higher by ` 59.37 Crores. The amount remaining to be amortised in"Foreign Currency Monetary Item Translation Difference Account" is ` 59.37 Crores. The Company has taken over Demerged undertaking of Core Healthcare Ltd.(CHL), under the Composite Scheme of Compromise and Arrangement sanctioned by the High Court of Gujarat by order dated 1st March, 2007. The appointed date for this purpose was 1st December, 2004 and the effective date was 7th March, 2007. Three parties of CHL have filed an appeal against the said order before the Division Bench of Hon'ble High Court of Gujarat. The appeal is pending. Figures of the previous year/quarter have been regrouped wherever necessary. By order of the Board For NIRMA LIMITED

Place : Date :

Ahmedabad 03.02.2012 Page-1

HIREN K. PATEL Managing Director

Unaudited Segment wise Revenue, Results and Capital Employed ` In Lacs Quarter ended Particulars 31.12.2011 Quarter ended Quarter ended Cumulative Cumulative up to up to 31.12.2011 31.12.2010 Previous year ended 31.03.2011 (Audited)

Sr. No

30.09.2011 31.12.2010

(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 1 a b c

Segment Revenue (Net sales/Income from each segment)

2 a b c

Soaps & Surfactants Pharmaceuticals Others G. Total Less : Inter segment revenue Net Sales / Income from Operations Segment Results (Profit before Tax and Interest) Soaps & Surfactants Pharmaceuticals Others G. Total Less : 1) Interest 2) Other unallocable expenditure net of unallocable income. Total Profit Before Tax Capital Employed (Segment Assets - Segment Liabilities) Soaps & Surfactants Pharmaceuticals Others Unallocable Total Capital Employed in Segments

85,059 9,274 5,715 100,048 105 99,943

81,244 10,123 8,518 99,885 102 99,783

66,186 8,574 5,580 80,340 129 80,211

238,605 28,380 21,519 288,504 313 288,191

193,942 24,779 22,107 240,828 254 240,574

263,519 32,126 29,394 325,039 374 324,665

12,535 (914) 1,131 12,752 922 911 10,919

10,685 (1,457) 1,111 10,339 480 7,287 2,572

4,793 (1,335) 1,033 4,491 798 692 3,001

32,969 (2,767) 3,046 33,248 2,551 11,275 19,422

19,848 (2,994) 2,858 19,712 2,371 4,666 12,675

17,204 (4,151) 5,227 18,280 3,148 7,457 7,675

a b c d

205,350 53,232 34,888 4,954 298,424

208,149 51,926 38,436 (8,048) 290,463

215,925 51,426 30,657 (12,683) 285,325

205,350 53,232 34,888 4,954 298,424

215,925 51,426 30,657 (12,683) 285,325

203,799 56,285 38,757 (15,644) 283,197

Notes to Segment Information for the quarter ended 31st December 2011 1 As per Accounting Standard 17 on Segment Reporting (AS 17), the Company has reported "Segment Information", as described below : a) The Soaps and Surfactants includes detergents, toilet soap and its ingredients. b) The Pharma business. c) Others includes Single super phosphate, Vaccume salt, Iodised salt and Castor oil etc. Page-2