Revenue increased by 23 % YoY for fourth quarter and 19% for the year driven by improved sales numbers cloaking 37.22 lakh vehicles for the year a growth of 12% over previous year which was more than double the overall industry growth.

Operating profit increased by 33% for the quarter YoY & 26% for the year driven by decrease in the input costs mainly driven by a huge fall in the steel prices in the fourth quarter.

Other income decreased by 20% for the quarter & was down by 2% on the full year basis.

PAT increased by 35% for quarter YoY and 32% for year due to higher number of vehicles sold coupled with falling input costs.

Company reported EPS of Rs.20.2 for Q4FY09 as compared to Rs.15 in Q4FY08 and Rs.64.19 in FY09.

The share is trading at PE of 17.13x for FY09 and P/BV of7.35x.

The company aims to achieve a 7% growth in FY10.The company plans to invest Rs. 350 cr to ramp up production at the tax?free zone at Haridwar where it will be producing over a million units per year and it will be modernizing its plants in Gurgaon and Daruhera.