The company has informed that the Company has entered into a Business Transfer Agreement (BTA) with ACE Refractories Ltd- a network Company of ICICI Venture Funds Management Company Ltd- for sale and transfer of the Company's Refractories Division inter alia for a consideration of Rs 2570 million. This sale and transfer is effective September 30, 2005. During the previous financial year the Company divested certain non core businesses while merging cement businesses carried on by its subsidiaries with itself. As result, the following events have been effected in the accounts: (i) Amalgamation of Bargarh Cement Ltd (BCL) and Damodhar Cement and Slag Ltd (DCSL) w.e.f. April 01, 2005 and (ii) Divestment of Refractory Business w.e.f September 30, 2005, Accordingly, the result for the year ended December 31, 2006 are not comparable with the respective previous periods. (As per BSE Announcement website dated on 01/02/2007)