Q1 FY 2010 Net Sales at Rs. 2,541 million Operating profit stands at Rs. 336 million Net Profit stands at Rs. 101 million EPS at Rs. 0.

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1 Registered Office: 11, Ekamra Kanan, Nayapalli, Bhubaneswar , Orissa Corporate Office: VISA Steel Limited, Brooke House, 2nd Floor, 9 Shakespeare Sarani, Kolkata Q1 FY 2010 Net Sales at Rs. 2,541 million Operating profit stands at Rs. 336 million Net Profit stands at Rs. 101 million EPS at Rs Kolkata, 27 th July 2009: VISA Steel Ltd. (VISA Steel), an emerging Integrated Special and Stainless Steel Company with captive mineral resources and power, has announced its results for the quarter ended 30 th June Highlights VISA Steel turns around financial performance in Q1 FY 2010 with a reported PAT of Rs million. 2 nd 150,000 TPA DRI Kiln of 300,000 TPA Sponge Iron facility commissioned on 24 th June 2009 post which entire unit is producing commercially. 2 X 25 MW Waste Heat Recovery Power Generation Facility stabilized and expects optimal utilization of facility now that the new Sponge Iron facility is completely operational.

2 Way Forward Facilities in progress Additional 25 MW Power Plant along with the 500,000 TPA Steel Melt Shop and 500,000 TPA Bar & Wire Rod Mill expected to be commissioned by Q3 FY The Company s subsidiary VISA BAO Limited is in the process of setting up a 100,000 TPA Ferro Chrome Plant. Operational overview 400,000 TPA Coke facility delivers strong production volumes and attains optimal capacity utilization. o Production figures for the quarter under review stood at 90,583 tonnes compared to 82,386 tonnes in the corresponding quarter last year. o In Q1 FY 2010, Coke sales increased 50.7% to 86,980 tonnes compared to 57,727 tonnes in Q1 FY o Average realizations for BF grade Coke witnessed during the quarter stood at Rs. 14,295 per tonne versus Rs. 21,054 per tonne in Q1 FY Hot Metal (Pig Iron & Scrap) production during the quarter stood at 38,127 tonnes. VISA Steel did not produce any Pig Iron in the corresponding quarter last year as the plant was closed for maintenance. o Sales in the Pig Iron division amounted to 39,772 tonnes and net realizations witnessed during the quarter stood at Rs. 15,800 per tonne. 2

3 The Ferro Chrome facility is now running at healthy utilization levels. o Production in the division increased 23.8% to 9,805 tonnes in Q1 FY 2010 compared to 7,921 tonnes in the corresponding quarter last year. o Ferro Chrome sales in the quarter amounted to 11,451 tonnes compared to 10,205 tonnes in Q1 FY 2009 and net realization witnessed during the quarter under review stood at Rs. 38,969 per tonne. The total production of Sponge Iron during Q1 FY 2010 was 32,975 tonnes. o Sales in the quarter under review amounted to 23,503 tonnes at an average realization of Rs. 12,080 per tonne. o The 2 nd Kiln of same capacity was commissioned on the 24 th of June The total generation of captive Power Plant during Q1 FY 2010 was million Units. 3

4 Commenting on the performance for Q1 FY 2010, Mr. Vishal Agarwal, Managing Director, VISA Steel Limited, said: I am happy to announce that we have been successful in turning around our financial performance in Q1 FY We expect demand and prices across our products to stabilize at current levels with marginal improvement towards the second half of the year. We have also witnessed correction in prices of some key raw materials like Iron Ore, Coking Coal and Chrome Ore and savings in our power costs due to captive power generation. Our strategy to forward integrate into being a low cost fully integrated provider of Special and Stainless Steel is being implemented and is progressing smoothly. With a generally improving economic environment, a well diversified portfolio of products and an ever increasing appetite for growth we look forward to delivering improving and sustainable performances going forward. Q1 FY 2010 financial performance (compared with Q1 FY 2009) Net sales at Rs. 2,540.9 million versus Rs. 2,557.2 million. Manufacturing revenues grew 9.3% to Rs. 2,540.9 million as compared to Rs. 2,324.1 million. PBIDT amounts to Rs million compared to Rs million. Reported Net Profit at Rs million compared to Rs million. EPS at Rs ENDS 4

5 About VISA Steel Limited VISA Steel Limited (VISA Steel) is an emerging integrated Special and Stainless Steel Company with captive mineral resources and power which currently manufactures products such as Pig Iron, Lam Coke, Ferro Chrome, Sponge Iron and generates Power. VISA Steel is setting up an integrated 500,000 TPA Special and Stainless Steel complex at Kalinganagar, Orissa of which it has already commissioned facilities of Pig Iron, Coke Oven, Ferro Chrome, Sponge Iron and Power. VISA Steel has its Registered Office in Bhubaneswar and Corporate Office in Kolkata with manufacturing units in Kalinganagar and Golagaon and branch offices across India. VISA Steel has a strong backing of experienced promoters, reputed Board of Directors and qualified team of professionals. For further information please contact: Manoj Digga VISA Steel Limited Tel: Fax: manoj.digga@visasteel.com Anoop Poojari / Aly Rashid Citigate Dewe Rogerson Tel: / 5022 Fax: anoop@cdr-india.com aly@cdr-india.com Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. VISA Steel Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. 5

6 VISA STEEL LIMITED Registered Office : 11, Ekamra Kanan, Nayapalli, Bhubaneswar , Orissa Corporate Office: Brooke House, 2nd Floor, 9, Shakespeare Sarani, Kolkata website: ID for registering Investor Grievances: investors@visasteel.com UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS PERIOD ENDED 30 JUNE 2009 (Rs. In Lakhs) 3 Months Ended Year Ended Particulars 30 June 30 June 31 March Unaudited Unaudited Audited 1 Net Sales/Income from Operations 25, , , Expenditure a. Increase/decrease in stock in trade and work in progress 5, (6,137.37) (2,371.28) b. Consumption of raw materials 13, , , c. Purchase of traded goods , d. Employees cost , e. Depreciation 1, , f. Other expenditure 2, , , g. Total 23, , , Profit from Operations before Interest and Exceptional Items(1-2) 1, , , Other Income Profit before Interest and Exceptional Items(3+4) 2, , , Interest (Net) 1, , Profit after Interest but before Exceptional Items(5-6) 1, , , Exceptional Items - - (11,846.67) 9 Profit (+)/Loss (-) before tax (7+8) 1, , (9,986.51) 10 Tax expenses Current Tax Deferred Tax (3,347.09) Fringe Benefit Tax Net Profit (+)/Loss (-) from Ordinary Activities after tax (9-10) 1, , (6,681.42) 12 Extraordinary Item (net of tax expenses) Net Profit (+)/Loss (-) for the period (11-12) 1, , (6,681.42) 14 Paid-up equity share capital (face value of Rs. 10/- each) 11, , , Reserve excluding Revaluation Reserves 17, Earnings Per Share (EPS) a) Basic and diluted EPS before Extraordinary items (not annualised) (6.07) b) Basic and diluted EPS after Extraordinary items (not annualised) (6.07) 17 Public shareholding - Number of shares 30,000,000 30,000,000 30,000,000 - Percentage of shares 27.27% 27.27% 27.27% 18 Promoters 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 - b) Non-encumbered - Number of shares 80,000,000 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) 72.73% By Order of the Board For VISA Steel Limited Date: Place: 22 July 2009 New Delhi Vishal Agarwal Managing Director

7 VISA STEEL LIMITED Registered Office : 11, Ekamra Kanan, Nayapalli, Bhubaneswar , Orissa Corporate Office: Brooke House, 2nd Floor, 9, Shakespeare Sarani, Kolkata website: ID for registering Investor Grievances: investors@visasteel.com Notes: As the Company's business activity falls within a single business segment, viz. "Iron & Steel products", the disclosure requirements of Accounting Standard (AS-17) on "Segment Reporting", notified by the Companies (Accounting Standards) Rules, 2006, are not applicable. During the quarter, the Company has commissioned commercial operations of its 1,50,000 TPA DRI Plant situated at Kalinganagar Industrial Complex, Orissa. No. of Investors' complaints: Pending at the Beginning of the Quarter: NIL, Received: 3, Disposed: 3, Pending at the end of the Quarter: NIL Subsequent to quarter ended, the Company's shareholding in VISA BAO Limited stands reduced to 48.15%, due to fresh allotment of 1,59,25,000 equity shares of Rs.10 each of VISA BAO Limited to Baosteel Resources Co. Limited. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors at their respective meeting held on 22 July The Statutory Auditors have carried out a limited review of the results for the three months ended 30 June 2009 pursuant to Clause 41 of Listing Agreement. 6 Previous period's figures have been regrouped/ rearranged wherever found necessary. By Order of the Board For VISA Steel Limited Date: Place: 22 July 2009 New Delhi Vishal Agarwal Managing Director

Accounting year ended

Accounting year ended WENDT (INDIA) LIMITED Regd. Office :105, 1st Floor, Cauvery Block,National Games Housing Complex,Koramangala, Bangalore- 560 047 Financial Results for the Quarter and Half Year ended 30th September 2011