Correction

Apropos the article published on 17 March, 2011 in the BR Research section titled HCAR: smooth for drivers, rough for assembler. The article contained a summary of HCARs finical results, which wrongly reported FY10 gross profit and gross margin at Rs240 million and 1.5 percent respectively.
Whereas, the company actually reported a gross loss of Rs240 million during the said period. Consequently, the analysis drawn from the misreported fact is inaccurate, as the gross profit and gross margins have actually improved considerably during the period. The mistake is regretted.