Pre Average

Gross Margin 22.4% 24.3% 17.2%

Operating Margin (7.2%) (3.1%) 1.4%
Pretax Margin (25.8%) (25.6%) (20.0%)
Effective Tax Rate - - -
Net Margin (26.1%) (25.6%) (20.0%)
Asset Turnover 0.47 0.48 0.58
Quick Ratio 0.26 0.38 0.64
Current Ratio 1.29 0.99 1.28
Times Interest Earned (0.3) (0.1) (1.4)
Assets/Equity - - -
Debt/Equity - - -
% LT Debt to Total Capital 180.5% 198.5% 279.3%
Inv Turnover 1.9 1.8 2.6
Fixed Asset Turnover 0.63 0.69 0.90
WC / Sales Growth (4.4%) (7.8%) 0.1%
Bad Debt Allowance (% of A/R) - - -
ROIC (15.0%) (16.9%) (16.5%)
Revenue per Employee (INR) - - INR2,955,944.4
Post Average Base Year
25.4% 18.6% 22.2% 23.5%
90.8% 6.0% 5.1% 7.3%
91.0% 11.7% 8.6% (10.5%)
0.0% 0.7% 12.2% -
91.0% 11.6% 7.6% (10.5%)
0.77 1.14 0.83 0.70
1.29 1.59 1.36 0.99
1.92 2.15 1.75 1.41
3.2 71.9 4.9 (1.1)
3.44 2.65 3.71 -
1.44 0.96 1.89 -
57.1% 47.4% 64.5% 223.7%
3.7 6.0 6.2 3.4
1.65 2.74 1.69 1.27
10.0% (1.5%) 1.3% 9.3%
- - - -
102.8% 18.1% 8.2% (10.7%)
INR3,443,044.3 INR5,364,618.8 INR3,252,014.1 INR3,189,778.0
 Pre Average Post
Revenue from Operations -- 1,212.7 1,392.8 1,511.7
Total Revenue 1,089.0 1,130.4 1,275.5 1,397.9
Cost of Materials Consumed 707.6 739.8 818.7 982.0
Purchases of Stock
Changes in Inventory (38.8) 13.2 111.0 (46.9)
Employee Benefits Expense 66.5 76.2 56.5 63.5
Depreciation and Amortization Expense 122.4 116.3 391.7 74.1
Manufacturing Costs
Selling, Distribution, Administration 133.3 117.1 115.4 125.0
Total Operating Expense 1,167.1 1,165.5 1,257.9 129.2
Interest Income 0.7 2.5 4.7 23.3
Other Income 10.0 8.6 11.3 15.7
Net Income Before Taxes (281.4) (289.1) (255.3) 1,271.9
Provision for Income Taxes 2.8 0.0 0.0 0.0
Net Income After Taxes (284.2) (289.1) (255.3) 1,271.9
Net Income (284.2) (287.6) (249.3) 1,274.6
Basic Normalized EPS (19.06) (19.30) (41.04) 1.27
DPS-Fully Paid Ord. Shrs 0.00 0.00 0.00 0.00
Interest Expense 255.1 262.9 241.4 1.0
Depreciation
Total Tax Expense
 Average Base Year
2,314.6 2,406.1 1,476.6
2,167.3 2,302.4 1,365.2
1,586.0 1,704.4 837.9

42.3 (25.4) 88.6

80.3 141.4 60.8
67.3 46.5 346.2

142.0 258.0 162.4

2,037.5 2,184.8 1,266.2
28.1 38.2 15.1
82.7 12.5 12.0
254.1 198.5 (143.5)
1.7 24.2 0.0
252.4 174.2 (143.5)
251.3 186.7 (183.0)
2.69 1.52 (35.32)
0.00 0.00 0.00
0.6 50.1 227.2
 Pre Average
Trade Receivables 74.1 91.8 70.0
Cash/Bank Bal. 17.2 11.1 36.6
Loans/Advances 20.1 105.8 95.1
Total Current Assets 601.5 756.5 700.4
Investments
Total Assets 2,284.5 2,377.1 2,052.8
Provisions -- 3.5 1.5
Trade Payables - Creditors other than Mi 441.7 448.4 360.7
Total Current Liabilities 465.9 766.0 547.0
Total Long Term Debt 2,118.5 2,071.9 2,002.0
Total Liabilities 3,229.0 3,604.5 3,451.8
Equity Share Capital 289.1 289.1 289.1
General Reserve 233.1 233.1 233.1
Retained Earnings (1,805.1) (2,088.0) (2,337.4)
Total Liabilities & Shareholders' Equity 2,284.5 2,377.1 2,052.8
Full-Time Employees -- 435 428
Number of Common Shareholders 17,418 19,166 18,878
Post Average Base Year
58.5 74.1 38.5 36.6
92.1 74.2 75.7 22.0
72.9 173.9 316.7 57.4
924.0 1,077.3 1,325.5 882.3

1,768.1 2,028.3 3,531.6 1,839.7

0.5 1.9 -- 4.1
458.1 474.9 368.9 444.0
480.7 500.4 757.8 626.9
724.1 717.1 1,783.3 2,683.0
1,254.1 1,262.9 2,579.6 3,421.7
968.9 968.9 968.9 289.1
0.0 0.0 0.0 233.1
(540.1) (296.3) (117.1) (2,520.3)
1,768.1 2,028.3 3,531.6 1,839.7
384 424 992 428
17,520 34,577 34,416 18,423