Bharat Gears Limited (BGL),one of India's largest manufacturer of automotive gears
declared, its financial results for the year ended March 31, 2008 at Board Meeting
held in Mumbai on 28th May, 2008.

For the financial year ended 31st March, 2008 BGLachieved turnover of Rs. 273
Crores, a growth of 18% over previous year. Net profit for the year 2007-08 stood at
Rs. 10.08 Crores as compared to net profit of Rs.8.79 Crores for the previous year,
an increase of 15%. EPS has increased by 10.15% to Rs. 12.59 per equity share.

Further, BGLhas successfully wiped out all its past accumulated losses.

The Board of Directors have recommended cumulative preference dividend of Rs.
1.94 Crores including arrears of cumulative preference dividend of Rs. 1.73 Crores.
The Board of Directors also recommended dividend @10% the equity shares of the
Company.

The Board of Directors have recommended the appointment of Mr. Sameer Kanwar,
Executive Director -Strategic Planning, as Joint Managing Director with effect from
June 1, 2008.

Going ahead, the company's continued thrust towards export markets is expected to
yield positive results in coming years. The company is also well posed take
advantage of robust demand from domestic OEMs. BGL has drawn up ambitious
capex plan to cater to higher demand as well as technological upgradation.