Vikram S To V

FINANCE -FUNDS FLOW - Actual - Vikram Projects (Curr: Rs in Cr.
199103 199203 199303 199406 199506 199606

Sources of funds
Cash profit 0.95 1.37 1.42 2.82 4.54 0.38

Increase in equity 0.8 2.63 0.02 6.26 0.22 0.05
Increase in other networth 0.39 0.52 0 14.84 0.76 0
Increase in loan funds 1.24 1.61 3.52 2.18 6.06 1.08
Decrease in gross block 0 0 0 0 0 0
Decrease in investments 0 0 0 0 0 0
Decrease in working capital 0 0 0 0 0 5.96
Others 0 0 0.02 0.1 0.07 0.05
Total Inflow 3.38 6.13 4.98 26.2 11.65 7.52
Application of funds
Cash loss 0 0 0 0 0 0
Decrease in networth 0 0 0 0 0 0.96
Decrease in loan funds 0 0 0 0 0 0
Increase in gross block 1.47 1.16 2.18 8.91 1.82 6.56
Increase in investments 0 0 0 0.04 0 0
Increase in working capital 1.74 4.27 2.11 16.36 9.83 0
Dividend 0.16 0.46 0.69 0.89 0 0
Others 0.01 0.24 0 0 0 0
Total Outflow 3.38 6.13 4.98 26.2 11.65 7.52
FINANCE -PROFIT AND LOSS - Vikram Projects (Curr: Rs in Cr.)
199103 (12) 199203 (12) 199303 (12) 199406 (15)

INCOME :
Sales Turnover 21.32 31.32 34.11 48.91
Excise Duty 0 0 0 0
Net Sales 21.32 31.32 34.11 48.91
Other Income 0.28 0.74 0.32 0.36
Stock Adjustments 2.8 1.49 0.76 2.15
Total Income 24.4 33.55 35.19 51.42
EXPENDITURE :
Raw Materials 19.83 27.61 29.47 43.01
Power & Fuel Cost 0.03 0.04 0.03 0.1
Employee Cost 0.46 0.63 0.76 0.76
Other Manufacturing Expenses 0.84 0.88 0.82 0.77
Selling and Administration Expenses 1.03 1.12 0.89 1.28
Miscellaneous Expenses 0.57 0.85 1.05 1.25
Less: Pre-operative Expenses Capitalised 0 0 0.91 0
Total Expenditure 22.76 31.13 32.11 47.17
Operating Profit 1.64 2.42 3.08 4.25

Interest 0.4 0.37 0.96 1.43
Gross Profit 1.24 2.05 2.12 2.82
Depreciation 0.06 0.08 0.1 0.24
Profit Before Tax 1.18 1.97 2.02 2.58
Tax 0.42 0.68 0.7 0
Fringe Benefit tax 0 0 0 0
Deferred Tax 0 0 0 0
Reported Net Profit 0.76 1.29 1.32 2.58
Extraordinary Items 0 0 0 0
Adjusted Net Profit 0.76 1.29 1.32 2.58
Adjst. below Net Profit 0 0 0 0

P & L Balance brought forward 0.01 0.11 0.43 0.56
Statutory Appropriations 0 0 0 0
Appropriations 0.66 0.96 1.19 1.54
P & L Balance carried down 0.11 0.44 0.56 1.6
Dividend 0.16 0.46 0.69 0.89

Preference Dividend 0 0 0 0
Equity Dividend % 20 20 0 0
Earnings Per Share-Unit Curr 9.5 3.76 3.83 2.13

Book Value-Unit Curr 22.38 16.82 18.61 30.08
199506 (12) 199606 (12)
40.72 21.19
0 0
40.72 21.19
0.51 0.26
-2.19 3.07
39.04 24.52
27.08 16.44
0.07 0.05
0.81 0.89
0.92 0.24
2.5 3.26
1.69 0.9
0 0
33.07 21.78
5.97 2.74
1.42 2.35
4.55 0.39
0.23 0.24
4.32 0.15
0 0
0 0
0 0
4.32 0.15
-0.02 0
4.34 0.15
0 -1.18
1.6 4.83
0 0
1.09 0.13
4.83 3.67
0 0
0 0
0 0
4.35 0.15
34.75 33.82
FINANCE -BALANCE SHEET - Vikram Projects (Curr: Rs in Cr.)
199103 199203 199303 199406 199506 199606

SOURCES OF FUNDS :
Share Capital 0.8 3.43 3.45 9.71 9.93 9.98
Reserves Total 0.99 2.34 2.97 19.5 24.58 23.77
Total Shareholders Funds 1.79 5.77 6.42 29.21 34.51 33.75
Secured Loans 0.73 0.96 2.75 2.83 5.36 5.84
Unsecured Loans 0.51 1.89 3.62 5.72 9.25 9.85
Total Debt 1.24 2.85 6.37 8.55 14.61 15.69
Total Liabilities 3.03 8.62 12.79 37.76 49.12 49.44
APPLICATION OF FUNDS :
Gross Block 1.47 1.79 3.43 5.22 5.36 5.46
Less : Accumulated Depreciation 0.19 0.27 0.37 0.61 0.83 1.06
Less:Impairment of Assets 0 0 0 0 0 0
Net Block 1.28 1.52 3.06 4.61 4.53 4.4
Lease Adjustment 0 0 0 0 0 0
Capital Work in Progress 0 0.84 1.38 8.5 10.19 16.64
Investments 0 0 0 0.04 0.04 0.04
Current Assets, Loans & Advances
Inventories 3.76 5.3 5.96 11.04 13.3 18.93
Sundry Debtors 1.25 4.29 5.59 11.05 14.75 8.18
Cash and Bank 2.21 3.32 1.85 2.15 5.07 2.25
Loans and Advances 5.02 6.86 8.23 15.77 19.27 17.53
Total Current Assets 12.24 19.77 21.63 40.01 52.39 46.89
Less : Current Liabilities and Provisions
Current Liabilities 9.91 12.62 12.12 14.64 18.09 18.54
Provisions 0.59 1.14 1.39 0.89 0 0
Total Current Liabilities 10.5 13.76 13.51 15.53 18.09 18.54
Net Current Assets 1.74 6.01 8.12 24.48 34.3 28.35
Miscellaneous Expenses not written off 0.01 0.25 0.23 0.13 0.06 0.01
Deferred Tax Assets 0 0 0 0 0 0
Deferred Tax Liability 0 0 0 0 0 0
Net Deferred Tax 0 0 0 0 0 0
Total Assets 3.03 8.62 12.79 37.76 49.12 49.44
Contingent Liabilities 6.05 8.72 9.78 11.45 34.9 23.88

PRODUCTS - RAW MATERIALS - Vidyavihar Cont. (Curr: Rs in Cr.)
Product Name Product Code Year Unit of Measurement Product Quantity Product Value
Unspecified 11044 200503 NA 0 0
Cost/Unit -Unit Curr.
0
0
PRODUCTS - FINISHED PRODUCTS - Vidyavihar Cont. (Curr: Rs in Cr.)
Product Name Product Code Year Unit of Measurement % of STO

Containers-Freight & Other 86090000 200503 No 0
Containers-Freight & Other 86090000 200403 No 100
Capacity Utilised -% Installed Capacity Production Sales Quantity Sales
0 0 0 0 0
0 0 0 48 0.18
Sales Realisation/Unit -Unit Curr
0
37500
RATIOS - VALUATION RATIOS - Vidyavihar Cont.
199903 200003 200203 200303 200403 200503

Price Earning (P/E) 0 0 0 0 0 0
Price to Book Value ( P/BV) 0 0 0 0 0 0
Price/Cash EPS (P/CEPS) 0 0 0 0 0 0
EV/EBIDTA 0 0 0 0 0 0
Market Cap/Sales 0 0 0 0 0 0
RATIOS - KEY FINANCIAL RATIOS - Vidyavihar Cont.
199903 200003 200203 200303 200403 200503

Key Ratios
Debt-Equity Ratio 0 0 0 0 0 0
Long Term Debt-Equity Ratio 0 0 0 0 0 0
Current Ratio 0.34 0.26 0.2 0.19 0.08 0.05
Turnover Ratios
Fixed Assets 0.05 0 0.01 0 0 0
Inventory 3.54 0.3 0.87 0.77 2 0
Debtors 7.15 0.5 0.59 0.4 0.53 0
Interest Cover Ratio -0.21 -0.17 -0.03 -0.77 -2.5 0
PBIDTM (%) -33.42 -781.48 -44.12 -200 -133.33 0
PBITM (%) -66.58 -788.89 -50 -209.09 -138.89 0
PBDTM (%) -350 -5507.41 -1652.94 -472.73 -188.89 0
CPM (%) -350 -5507.41 -1652.94 -472.73 -188.89 0
APATM (%) -383.16 -5514.81 -1658.82 -481.82 -194.44 0
ROCE (%) -5.45 -5.01 -0.47 -1.27 0 0
RONW (%) 145.14 84.43 23.26 4.28 0 0
FINANCE -FUNDS FLOW - Actual - Vidyavihar Cont. (Curr: Rs in Cr.)
199903 200003 200203 200303 200403 200503

Sources of funds
Cash profit 0 0 0 0 0 0
Increase in equity 119.77 0 119.77 0 0 0
Increase in other networth 0 0 0 0 0 0
Decrease in gross block 0 0.36 0 11.81 0.17 94.67
Decrease in working capital 10.65 8.88 16.21 0.43 0 0.26
Others 0 0 0 0 0 0
Total Inflow 187.76 14.87 196.76 12.85 18.01 95.03
Cash loss 11.55 14.87 7.81 1.03 0.38 52.62

Decrease in networth 92.72 0 136.07 0 0.1 0
Increase in gross block 83.49 0 52.88 0 0 0
Increase in investments 0 0 0 0 0 0
Increase in working capital 0 0 0 0 17.53 0
Dividend 0 0 0 0 0 0
Others 0 0 0 11.82 0 42.41
Total Outflow 187.76 14.87 196.76 12.85 18.01 95.03
FINANCE -PROFIT AND LOSS - Vidyavihar Cont. (Curr: Rs in Cr.)
199903 (12) 200003 (12) 200203 (12) 200303 (12)

INCOME :
Sales Turnover 3.86 0.27 0.34 0.22
Excise Duty 0 0 0 0
Net Sales 3.86 0.27 0.34 0.22
Other Income 3.23 0.41 0.39 0
Stock Adjustments -2 -0.4 -0.34 -0.21
Total Income 5.09 0.28 0.39 0.01
EXPENDITURE :
Raw Materials 0 0 0 0
Power & Fuel Cost 0.24 0.07 0 0
Employee Cost 0.98 0.03 0 0
Less: Pre-operative Expenses Capitalised 0 0 0 0
Operating Profit -23.74 -2.11 -2.46 -0.44

Interest 12.22 12.76 5.47 0.6
Gross Profit -35.96 -14.87 -7.93 -1.04
Depreciation 1.28 0.02 0.02 0.02
Profit Before Tax -37.24 -14.89 -7.95 -1.06
Tax 0 0 0 0
Reported Net Profit -37.24 -14.89 -7.95 -1.06
Extraordinary Items -22.45 0 -2.31 0
Adjusted Net Profit -14.79 -14.89 -5.64 -1.06

P & L Balance brought forward 0 0 0 0
Appropriations -37.24 -14.89 -7.95 -1.06
P & L Balance carried down 0 0 0 0
Dividend 0 0 0 0
Earnings Per Share-Unit Curr 0 0 0 0

Book Value-Unit Curr -8.51 -20.94 -20.25 -21.13
200403 (12) 200503 (12)
0.18 0
0 0
0.18 0
0.33 0.09
-0.18 0.09
0.33 0.18
0 0
0 0
0 0
0.03 0.04
0.47 0.49
0.11 52.28
0 0
0.61 52.81
-0.28 -52.63
0.1 0
-0.38 -52.63
0.01 0.01
-0.39 -52.64
0 0
0 0
0 0
-0.39 -52.64
-0.04 0
-0.35 -52.64
-0.1 0
-145.35 -145.84
0 0
0 0
-145.84 -198.48
0 0
0 0
0 0
0 0
-21.54 -65.49
FINANCE -BALANCE SHEET - Vidyavihar Cont. (Curr: Rs in Cr.)
199903 200003 200203 200303 200403 200503

SOURCES OF FUNDS :
Share Capital 119.77 119.77 119.77 119.77 119.77 119.77
Reserves Total -129.96 -144.85 -89.8 -102.68 -103.16 -198.21
Total Shareholders Funds -10.19 -25.08 29.97 17.09 16.61 -78.44
Secured Loans 20.11 19.1 0 0 0 0
Unsecured Loans 37.23 43.87 60.78 61.39 79.23 79.33
Total Debt 57.34 62.97 60.78 61.39 79.23 79.33
Gross Block 83.49 81.94 107.1 95.29 95.11 0.44
Net Block 57.8 57.42 106.96 95.12 94.95 0.26
Capital Work in Progress 0 0 0 0 0 0
Investments 0 0 0 0 0 0
Inventories 1.09 0.69 0.39 0.18 0 0.09
Sundry Debtors 0.54 0.53 0.58 0.51 0.17 0.17
Cash and Bank 0.69 0.18 0.12 0.01 0.33 0.03
Provisions 0.24 0.08 0 0 0 0
Net Current Assets -10.65 -19.53 -16.21 -16.64 0.89 0.63
Miscellaneous Expenses not written off 0 0 0 0 0 0
Total Assets 47.15 37.89 90.75 78.48 95.84 0.89

PRODUCTS - RAW MATERIALS - Vidiani Eng. (Curr: Rs in Cr.)
Product Name Product Code Year Unit of Measurement Product Quantity

Steel Items-Purchased 73000000 199603 MT 12548.09
Steel Items 73000000 199603 MT 13119.33
Sundry Components 7044 199603 NA 0
Misc.Purchase 2044 199603 NA 0
Machinery 84000000 199503 No 8
Steel Items 73000000 199503 MT 1385.57
Sundry Components 7044 199503 NA 0
Purchase of Trading Goods 2044 199503 NA 0
Raw Mtls.Consumed 11044 199403 MT 0
Product Value Cost/Unit -Unit Curr.
23.83 18990.94
19.93 15191.32
1.78 0
0.07 0
0.38 475000
2.29 16527.49
0.51 0
17.92 0
12.77 0
6.75 0
1.5 0
PRODUCTS - FINISHED PRODUCTS - Vidiani Eng. (Curr: Rs in Cr.)

Steel Items 73000000 199603 MT 36.64
Tanks-Fabrication 73090000 199603 No 18.6
Fabrication of Heat Exchang. 10044 199603 No 12.17
Labour Jobs 10044 199603 NA 11.37
Fabrication of Centrifuge Sys. 10044 199603 No 8.77
Cranes 84260000 199603 No 6.29
Consultancy Fees/Service Chrg. 43044 199603 NA 2.64
Scrap Materials 72040000 199603 NA 2.32
Fabrication of Misc.items 10044 199603 No 1.05
Miscellaneous 11044 199603 NA 0.15
Steel Items 73000000 199503 MT 68.9
Machines/parts 84000000 199503 No 12.16
Labour Jobs 10044 199503 NA 8.76
Tanks-Fabrication 73090000 199503 No 1.61
Steel Items 73000000 199403 MT 85.62
Others incl.Labour/Consultancy 11044 199403 MT 11.08
Components of Plate Binding 7044 199403 MT 3.3
Steel Items 73000000 199303 MT 80.3
Steel Items 72000000 199203 MT 95.68
0 0 0 12421.65 23.72
0 0 183 183 12.04
0 0 35 35 7.88
0 0 0 0 7.36
0 0 23 23 5.68
0 0 4 4 4.07
0 0 0 0 1.71
0 0 0 0 1.5
0 0 11 11 0.68
0 0 0 0 0.1
0 0 0 11453.71 18.41
0 0 55 55 3.25
0 0 0 0 2.34
0 0 0 0 2.29
0 0 61 61 0.43
0 0 0 8219.04 12.98
0 0 0 0 1.68
0 0 0 1 0.5
0 0 0 4658.74 6.93
0 0 0 0 1.7
0 0 0 1070.41 1.55
0 0 0 0 0.07
19095.69
657923.5
2251428.57
0
2469565.22
10175000
0
0
618181.82
0
16073.39
590909.09
0
0
70491.8
15792.6
0
5000000
14875.27
0
14480.43
0
RATIOS - VALUATION RATIOS - Vidiani Eng.
199303 199403 199503 199603

Price Earning (P/E) 17.39 21.21 27.35 8.84
Price to Book Value ( P/BV) 0.76 1.08 3.42 1.9
Price/Cash EPS (P/CEPS) 16.21 17.81 24.44 7.67
EV/EBIDTA 33.42 12.78 17.81 6.78
Market Cap/Sales 0.58 1.15 2.19 0.59
RATIOS - KEY FINANCIAL RATIOS - Vidiani Eng.
199303 199403 199503 199603

Key Ratios
Debt-Equity Ratio 0.56 0.39 0.43 1.02
Long Term Debt-Equity Ratio 0.56 0.24 0.18 0.63
Current Ratio 2.86 1.72 1.33 1.12
Turnover Ratios
Fixed Assets 2.08 3.26 4.05 4.46
Inventory 8.99 7.62 6.62 6.63
Debtors 2.43 2.59 3.75 4.82
Interest Cover Ratio 6.8 2.68 4.49 2.45
PBIDTM (%) 4.17 11.15 14.03 14.92
PBITM (%) 3.94 10.09 13.1 13.9
PBDTM (%) 3.59 7.39 11.12 9.25
CPM (%) 3.59 6.46 8.94 7.72
APATM (%) 3.36 5.41 8.01 6.7
ROCE (%) 3.46 10.06 15.2 24.29
RONW (%) 4.4 7.22 12.88 23.29
FINANCE -CASH FLOW - Vidiani Eng. (Curr: Rs in Cr.)
199503 199603
Cash Flow Summary
Cash and Cash Equivalents at Beginning of the year 1.35 1.18
Net Cash from Operating Activities 0.46 -0.4
Net Cash Used in Investing Activities -3.08 -20.38
Net Cash Used in Financing Activities 2.45 21.83
Net Inc/(Dec) in Cash and Cash Equivalent -0.17 1.05
Cash and Cash Equivalents at End of the year 1.18 2.23
FINANCE -FUNDS FLOW - Actual - Vidiani Eng. (Curr: Rs in Cr.)
199303 199403 199503 199603

Sources of funds
Cash profit 0.29 1.01 2.39 5.01

Increase in equity 6.28 6.19 0.09 0.02
Increase in other networth 0.02 2.53 0 0
Increase in loan funds 3.7 1.52 3.84 19.98
Decrease in gross block 0 0 0 0
Decrease in investments 0 0 0 0
Decrease in working capital 0 0 0 0
Others 0 0 0.08 0.08
Total Inflow 10.29 11.25 6.4 25.09
Cash loss 0 0 0 0
Decrease in networth 0 0 0 0
Decrease in loan funds 0 0 0 0
Increase in gross block 4.15 0.99 3.11 20.41
Increase in investments 0 8 0 0
Increase in working capital 5.68 1.96 2.02 3.41
Dividend 0 0 1.27 1.27
Others 0.46 0.3 0 0
Total Outflow 10.29 11.25 6.4 25.09
PRODUCTS - RAW MATERIALS - UB Engg. (Curr: Rs in Cr.)

Raw Materials Consumed 11044 200903 NA 0
Unspecified 11044 199903 NA 0
Pastes -Various Types 22044 199803 Gms 258750
Components -Various Types 7044 199803 NA 0
Components -Various Types 7044 199703 NA 0
Spirit-Blended 22080000 199603 Ltr 0
Rectified Spirit 22071001 199603 Ltr 0
Others 11044 199603 NA 0
Components -Various Types 7044 199603 No 0
Others 11044 199503 NA 0
Purchase of Fin/Semi.Fin.Goods 2044 199503 NA 0
Contract Costs 10044 199503 NA 0
Purchases 2044 199403 NA 0
Adjustment 37044 199403 NA 0
RM Consumed 11044 199403 NA 0
Others 11044 199403 NA 0
Components-Various Types 7044 199303 NA 0
Others 11044 199303 NA 0
Raw Material Consumed 11044 199303 NA 0
Pastes-Various Types 22044 199303 Gms 212570
Others 99999999 199203 NA 0
Pastes-Various Types 33040000 199203 Gms 46700
Rectified Spirit 22072000 199203 Lts 88565
Blended Spirit 22072000 199203 Lts 724
Paste-Various Types 33040000 199103 Gms 33900
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0.56 21.64
4.55 0
0.66 24.2
6.47 0
0 0
0 0
0.5 34.42
0 0
4.27 0
1.08 0
1.32 0
118.71 0
1.64 9.53
0.2 103.15
0.57 47.58
4.36 0
1.44 0
0.92 109.1
4.87 8.28
8.6 0
0.74 54.67
23.17 0
1.05 0
5.55 0
10.64 0
1.68 0
55.81 0
1.67 78.56
0.62 24.11
1.71 4.04
0.41 0
1.73 0
0.49 104.93
0.05 5.65
0 0
0.22 64.9
1.85 0
PRODUCTS - FINISHED PRODUCTS - UB Engg. (Curr: Rs in Cr.)

Contract/Technical Services 10044 200903 Rs. 100
Contract/Technical Services 10044 199803 NA 94.08
Hybrid Integrated Circuits 85424000 199803 No 5.92
Add on Card/Elec.Sub-Ably. 85420000 199803 No 0
Add on Card/Elec.Sub-Ably. 85420000 199703 No 92.74
Contract/Technical Services 10044 199703 NA 0
IMFL (Cases) 22080000 199603 Box 0.21
Spirit-Denatured 22072000 199603 Ltr 0
IMFL (Cases) 22080000 199503 Box 7.37
Spirit-Denatured 22072000 199503 Ltr 0.02
Indian Made Foreign Liquor 22080000 199503 Ltr 0
Message Comm.Systems 85250000 199503 NA 0
IMFL (Cases) 22080000 199403 Box 24.65
Message Comm.Systems 85250000 199403 NA 0
Adjustments 37044 199403 NA -0.06
IMFL (Cases) 22080000 199303 Box 19.98
Message Comm.Systems 85250000 199303 No 0.03
Dot Matrix Printers 84716005 199303 No 0
0 0 0 0 453.11
0 0 0 0 264.59
0 0 0 0 216.29
0 0 0 0 229.13
0 0 0 0 149.17
0 0 0 0 74.75
0 0 0 0 121.99
0 0 0 0 136.81
0 0 0 0 207.7
0 0 0 0 187.72
0 0 0 0 209.14
0 0 0 0 205.12
0 0 3393246 3979522 12.9
0 0 0 0 0
0 0 0 0 190.36
0 0 4564238 4527427 14.9
0 0 0 0 0
0 0 0 0 170.57
0 0 3792079 4054194 11.63
0 0 0 10474 0.38
0 0 631 509 0.19
0 0 0 0 0
0 0 0 0 132.78
0 0 3248592 3201287 12.79
0 0 225802 234890 11.61
0 0 7068 6933 0.37
0 0 0 16000 0.03
0 2550000 0 0 0
0 0 0 0 0
0 0 0 0 89.18
0 0 818469 833023 35.09
0 0 4215728 4198378 16.21
0 0 43099 43136 1.89
0 0 0 60000 0.08
0 0 0 0 0
0 0 0 0 -0.08
0 0 0 0 64.27
0 0 5256589 5018259 27.25
0 0 591142 560899 22.89
0 0 2015 1980 0.1
0 0 0 2 0.03
0 0 0 46000 0.02
0 0 0 0 0
0
0
0
0
0
0
0
0
0
0
0
0
32.42
0
0
32.91
0
0
28.69
362.8
3732.81
0
0
39.95
494.27
533.68
18.75
0
0
0
421.24
38.61
438.15
13.33
0
0
0
54.3
408.09
505.05
150000
4.35
0
RATIOS - VALUATION RATIOS - UB Engg.
199503 199603 199703 199803 199903 200003 200103 200203 200303

Price Earning (P/E) 6.75 2.81 3.62 1.82 3.26 0 0 0 0
Price to Book Value ( P/BV) 1.93 0.76 0.33 0.22 0.36 0.28 0.2 0.23 0.29
Price/Cash EPS (P/CEPS) 5.08 1.94 1.4 0.9 1.8 3.25 -0.57 -0.23 2.58
EV/EBIDTA 4.98 3.45 3.75 2.65 3.13 5.21 0 0 4.74
Market Cap/Sales 0.32 0.13 0.05 0.04 0.08 0.07 0.03 0.02 0.03
200403 200503 200603 200703 200803 200903
0 0 0 19.53 11.34 2.93
-1.54 -1.11 -1.41 -1.67 3.65 0.74
-0.79 -1.91 -2.47 15.06 10.73 2.67
23.74 30.79 0 10.65 6.2 1.02
0.08 0.1 0.2 0.24 0.55 0.14
RATIOS - KEY FINANCIAL RATIOS - UB Engg.
199503 199603 199703 199803 199903 200003 200103 200203 200303

Key Ratios
Debt-Equity Ratio 1.23 1.38 1.65 1.43 1.02 1.01 1.46 2.84 5.54
Long Term Debt-Equity Ratio 0.41 0.51 0.83 0.7 0.48 0.4 0.54 0.78 1.06
Current Ratio 1.18 1.13 1.18 1.22 1.29 1.32 1.24 1.11 1.06
Turnover Ratios
Fixed Assets 3.8 3.16 2.87 3.1 3.19 2.83 3.08 2.15 2.15
Inventory 7.95 7.23 8.3 12.29 12.73 11.08 15.44 11.63 15.32
Debtors 3.9 3.6 2.93 2.47 2.23 1.88 1.61 1 0.97
Interest Cover Ratio 4.39 1.93 1.46 1.54 2.05 0.95 -0.51 -1.21 1.11
PBIDTM (%) 9.78 8.78 8.59 8.15 7.97 5.66 -0.47 -7.8 12.56
PBITM (%) 8.24 6.63 6.24 5.93 6.01 3.41 -2.11 -9.98 10.67
PBDTM (%) 7.9 5.34 4.31 4.3 5.03 2.06 -4.64 -16.06 2.98
CPM (%) 6.22 5.09 3.91 4 4.36 2.01 -5.22 -9.61 0.2
APATM (%) 4.68 2.94 1.55 1.78 2.41 -0.23 -6.87 -11.79 -1.68
ROCE (%) 26.32 17.73 14.7 14.37 14.54 7.07 0 0 0
RONW (%) 33.22 18.64 9.66 10.46 11.76 -0.98 0 0 0
200403 200503 200603 200703 200803 200903
21.29 0 0 0 5.81 0.1

3.75 0 0 0 5.81 0.1
1.02 0.97 0.9 0.92 1.27 1.41
1.38 2.8 4.27 6.79 23.11 16.66

23.88 61.51 21.91 13.99 19.24 26.95
0.6 1.12 1.71 2.76 6.81 6.83
0.15 0.17 -0.33 -3.99 3.09 6.89
4.74 2.37 -2.08 -8.92 7.65 7.82
2.57 1.76 -2.45 -9.27 7.37 7.36
-11.99 -7.94 -9.61 -11.24 5.26 6.76
-10.06 -5.23 -8.29 -11.33 5.13 5.13
-12.23 -5.85 -8.67 -11.68 4.85 4.67
0 0 0 -28.19 26.17 35.68
0 0 0 349.52 27.05 24.22
FINANCE -CASH FLOW - UB Engg. (Curr: Rs in Cr.)
199803 199903 200003 200103 200203 200303

Cash Flow Summary
Cash and Cash Equivalents at Beginning of the year 4.95 4.44 5.73 6.57 4.8 3.28
Net Cash from Operating Activities 1.98 4.32 -19.01 -3.69 2.31 4.1
Net Cash Used in Investing Activities 3.96 -0.18 9.67 0.11 3.78 0.51
Net Cash Used in Financing Activities -6.45 -2.85 10.18 1.81 -7.61 -4.72
Net Inc/(Dec) in Cash and Cash Equivalent -0.51 1.29 0.84 -1.77 -1.52 -0.11
Cash and Cash Equivalents at End of the year 4.44 5.73 6.57 4.8 3.28 3.17
200403 200503 200603 200703 200803 200903
3.17 3.44 2.26 4.38 5.53 25.63

0.12 -0.41 7.82 1.61 17.14 14.39
0.82 -0.22 -0.18 -0.18 -5.27 -4.18
-0.67 -0.55 -5.52 -0.28 8.23 -3.14
0.27 -1.18 2.12 1.15 20.1 7.07
3.44 2.26 4.38 5.53 25.63 32.7
FINANCE -FUNDS FLOW - Actual - UB Engg. (Curr: Rs in Cr.)
199503 199603 199703 199803 199903 200003 200103 200203 200303

Sources of funds
Cash profit 11.27 13.92 6.84 9.72 9.76 4.68 0 0 1.22

Increase in equity 0.49 0 0 0.73 0.77 0 0 0 0
Increase in other networth 1.37 0 0 1.88 0 0 0.01 0 0
Increase in loan funds 6.72 18.09 11.25 0 0 8.27 10.75 2.85 6.3
Decrease in gross block 0 0 0 4.91 1.21 0 0.62 6.06 1.57
Decrease in investments 0.01 0 0 0 0 0 0 0.31 0.04
Decrease in working capital 0 0 0 0.26 0 0 0.53 6.85 0
Others 0.07 0 0.07 0.27 0 0 0 0 0
Total Inflow 19.93 32.01 18.16 17.77 11.74 12.95 11.91 16.07 9.13
Cash loss 0 0 0 0 0 0 10.19 13.15 0

Decrease in networth 0 0.38 0.11 0 0.84 0 0 1.48 0.97
Decrease in loan funds 0 0 0 14.2 4.39 0 0 0 0
Increase in gross block 11.29 19.44 4.55 0 0 0.02 0 0 0
Increase in investments 0 0.64 0 0 0 0 0.32 0 0
Increase in working capital 5 7.61 10.68 0 5.1 11.54 0 0 7.26
Dividend 2.07 2.17 1.08 1.09 0 0 0 0 0
Others 1.57 1.77 1.74 2.48 1.41 1.39 1.4 1.44 0.9
Total Outflow 19.93 32.01 18.16 17.77 11.74 12.95 11.91 16.07 9.13
200403 200503 200603 200703 200803 200903
0 0 0 3.39 12.84 21.14

0 0 0 0 4.74 0
0 0 0 0.01 52.91 22.25
11.87 14.84 11.77 0 0 1.7
0.48 0 0.07 3.69 0 0
0.65 0.02 0 0 0 0
0.59 0 7.57 54.88 0 0
0.08 0.09 0.08 0.09 0 0
13.67 14.95 19.49 62.06 70.49 45.09
7.95 7.8 17.65 0 0 0

5.7 0.76 0.01 0 0 0
0 0 0 59.4 43.38 0
0 0.44 0 0 2.07 11.94
0 0 0 0 0 0
0 5.95 0 0 22.61 17.21
0 0 0 0 0 0
0.02 0 1.83 2.66 2.43 15.94
13.67 14.95 19.49 62.06 70.49 45.09
FINANCE -PROFIT AND LOSS - UB Engg. (Curr: Rs in Cr.)
199503 (12) 199603 (12) 199703 (12) 199803 (12)

INCOME :
Sales Turnover 157.58 182.77 205.26 218.02
Excise Duty 3.28 1.68 2.09 1.42
Net Sales 154.3 181.09 203.17 216.6
Other Income 0.58 3.74 0.12 2.09
Stock Adjustments 7.72 5.2 -6.91 -4.66
Total Income 162.6 190.03 196.38 214.03
EXPENDITURE :
Raw Materials 127.88 4.77 7.13 5.11
Power & Fuel Cost 0.44 0.3 0.45 0.34
Employee Cost 4.97 6.03 7.27 7.56

Interest 2.96 6.28 8.79 8.39
Gross Profit 12.45 13.34 8.85 10.54
Depreciation 2.42 3.92 4.84 4.85
Tax 2.65 0.75 0.83 0.82
Extraordinary Items 0.38 3.29 -0.26 0.99
Adjusted Net Profit 7 5.38 3.44 3.88
Adjst. below Net Profit 0 -0.38 0 1.19

Dividend 2.07 2.17 1.08 1.09


199903 (12) 200003 (12) 200103 (12) 200203 (12) 200303 (12) 200403 (12) 200503 (12) 200603 (12)
209.14 187.72 207.7 136.81 121.99 74.75 149.17 229.13

0 0 3.09 2.34 0.41 0 0 0
209.14 187.72 204.61 134.47 121.58 74.75 149.17 229.13
4.5 17.4 0.86 3.01 0.41 0.45 2.32 1.75
5.13 -3.69 -2.89 -0.08 -7.38 -2.18 0.56 14.02
218.77 201.43 202.58 137.4 114.61 73.02 152.05 244.9
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
6.39 6.7 7.23 6.22 1.91 1.68 1.5 1.74
185.1 173.17 188.27 135.12 93.48 64.31 144.48 230.21
2.75 2.48 2.15 1.32 1.28 0.8 0.61 0.63
7.78 8.4 5.9 5.41 3.25 2.69 1.92 17.08
0 0 0 0 0 0 0 0
202.02 190.75 203.55 148.07 99.92 69.48 148.51 249.66
16.75 10.68 -0.97 -10.67 14.69 3.54 3.54 -4.76

6.14 6.75 8.67 11.3 11.69 12.5 15.38 17.26
10.61 3.93 -9.64 -21.97 3 -8.96 -11.84 -22.02
4.18 4.21 3.42 2.98 2.3 1.62 0.92 0.86
6.43 -0.28 -13.06 -24.95 0.7 -10.58 -12.76 -22.88
1.4 0.1 1.2 0 0 0 0 0
0 0 0 0 0 0 0 0.18
0 0 0 -8.82 1.78 -1.44 -4.04 -3.2
5.03 -0.38 -14.26 -16.13 -1.08 -9.14 -8.72 -19.86
1.64 0.06 -0.06 -1.4 0.97 0.2 -0.1 0.15
3.39 -0.44 -14.2 -14.73 -2.05 -9.34 -8.62 -20.01
0 0 0 -1.47 -0.97 -5.71 -0.76 0

0.26 1.54 0.06 -8.35 -25.75 -24.78 -35.18 -42.11
0 0 0 0 0 0 0 0
3.75 1.1 -5.85 -0.2 -3.02 -4.45 -2.55 0
1.54 0.06 -8.35 -25.75 -24.78 -35.18 -42.11 -61.97
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
4.08 0 0 0 0 0 0 0
36.71 36.4 24.84 10.56 8.9 -3.14 -10.83 -26.94
200703 (12) 200803 (12) 200903 (12)
216.29 264.59 453.11

0 0 0
216.29 264.59 453.11
77.66 1.98 3.14
-5.41 0.81 4.19
288.54 267.38 460.44
0 0 0
0 0 0
2.37 4.63 6.78
205.46 238.42 408.46
0.04 0.04 0.07
71.82 4.06 9.68
0 0 0
279.69 247.15 424.99
8.85 20.23 35.45

5.03 6.31 4.84
3.82 13.92 30.61
0.77 0.73 2.09
3.05 13.19 28.52
0 0 3.62
0.18 0.35 0.39
0.25 0 3.37
2.62 12.84 21.14
27.89 0.18 -0.02
-25.27 12.66 21.16
0 0 0
-61.97 -49.35 -36.26
0 0 0
-10 -0.25 0
-49.35 -36.26 -15.12
0 0 0
0 0 0
0 0 0
2.12 7.52 12.38

-24.81 23.37 48.79
FINANCE -BALANCE SHEET - UB Engg. (Curr: Rs in Cr.)
199503 199603 199703 199803 199903 200003 200103

SOURCES OF FUNDS :
Share Capital 10.83 10.83 10.83 11.56 12.33 12.33 12.33
Reserves Total 28.49 32.99 33.24 36.42 39.2 37.43 21.78
Total Shareholders Funds 39.32 43.82 44.07 47.98 51.53 49.76 34.11
Secured Loans 20.45 34.56 54.79 44.5 39.98 43.27 47.73
Unsecured Loans 10.28 14.26 5.28 1.37 1.71 6.48 12.77
Total Debt 30.73 48.82 60.07 45.87 41.69 49.75 60.5
Total Liabilities 70.05 92.64 104.14 93.85 93.22 99.51 94.61
Gross Block 61.41 79.75 85.47 73.15 71.94 71.96 71.34
Less : Accumulated Depreciation 23.16 28.41 32.07 29.51 33.96 38.91 43.37
Less:Impairment of Assets 0 0 0 0 0 0 0
Net Block 38.25 51.34 53.4 43.64 37.98 33.05 27.97
Lease Adjustment 0 0 0 0 -0.28 -0.39 0
Capital Work in Progress 0.07 1.17 0 0 0 0 0
Investments 0.07 0.71 0.71 0.71 0.71 0.71 1.03
Inventories 22.56 28.01 21.44 14.03 18.83 15.04 11.86
Sundry Debtors 42.32 59.36 80.81 95.74 91.71 107.76 149.56
Cash and Bank 3.86 5.54 4.95 4.44 5.73 6.57 4.8
Loans and Advances 7.76 8.95 12.66 13.57 14.3 11.65 11.98
Total Current Assets 76.5 101.86 119.86 127.78 130.57 141.02 178.2
Current Liabilities 42.96 60.61 67.95 75.29 72.79 73.54 109.99
Provisions 2.07 2.17 2.15 2.99 2.97 1.34 2.6
Total Current Liabilities 45.03 62.78 70.1 78.28 75.76 74.88 112.59
Net Current Assets 31.47 39.08 49.76 49.5 54.81 66.14 65.61
Miscellaneous Expenses not written off 0.19 0.34 0.27 0 0 0 0
Deferred Tax Assets 0 0 0 0 0 0 0
Deferred Tax Liability 0 0 0 0 0 0 0
Net Deferred Tax 0 0 0 0 0 0 0
Total Assets 70.05 92.64 104.14 93.85 93.22 99.51 94.61
Contingent Liabilities 44.74 48.85 116.06 98.28 122.35 134.69 144.37

200203 200303 200403 200503 200603 200703 200803 200903
12.33 12.33 12.33 12.33 12.33 12.33 17.07 17.07

2.73 0.12 -14.74 -2.82 -24.52 -24.55 38.77 66.22
15.06 12.45 -2.41 9.51 -12.19 -12.22 55.84 83.29
61.59 68.78 80.98 95.83 107.6 48.38 5 6.85
1.76 0.87 0.54 0.53 0.53 0.35 0.35 0.2
63.35 69.65 81.52 96.36 108.13 48.73 5.35 7.05
78.41 82.1 79.11 105.87 95.94 36.51 61.19 90.34
61.39 55.76 55.28 75.64 75.57 27.57 29.64 40.7

42.46 40.7 41.89 41.33 43.54 0 0 0
0 0 0 0 0 0 0 0
18.93 15.06 13.39 34.31 32.03 27.57 29.64 40.7
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0.88
0.72 0.68 0.03 0.01 0.01 0.01 0.01 0.01
11.67 4.26 2 2.85 18.07 12.84 14.66 18.97

124.61 126.99 123.35 143.53 125.23 31.74 45.95 86.7
3.28 3.17 3.45 2.26 4.38 5.53 25.63 32.7
9.49 9.28 9.74 13.47 14.38 8.53 11.83 13.81
149.05 143.7 138.54 162.11 162.06 58.64 98.07 152.18
93.37 79.54 74.88 94.18 102.09 57.45 74.19 107.37

5.74 5.19 6.71 9.08 11.9 7.74 7.82 8.18
99.11 84.73 81.59 103.26 113.99 65.19 82.01 115.55
49.94 58.97 56.95 58.85 48.07 -6.55 16.06 36.63
0 0.34 0.26 0.17 0.09 0 0 0
13.65 11.17 12.09 15.83 18.68 15.48 15.48 12.12
4.83 4.12 3.61 3.3 2.94 0 0 0
8.82 7.05 8.48 12.53 15.74 15.48 15.48 12.12
78.41 82.1 79.11 105.87 95.94 36.51 61.19 90.34
108.36 70.79 63.81 50.57 37.4 28.48 61.18 230.19

PRODUCTS - RAW MATERIALS - U E M India (Curr: Rs in Cr.)
Bricks 69020000 200703 No 284757 0.12
Stores & Components 29341000 200703 NA 0 22.4
Cement 25230000 200703 MT 2585.8 1.02
Other Materials 11044 200703 NA 0 10.74
Adjustment 11044 200703 NA 0 2.82
Steel 72000000 200703 MT 943.518 2.79
Adjustment 11044 200603 NA 0 8.09
Cement 25230000 200603 MT 4341650 0.98
Bricks 69020000 200603 No 38066 0.02
Steel 72000000 200603 MT 748880 1.93
Adjustment 11044 200503 NA 0 0
Steel 72000000 200503 MT 721.61 1.86
Bricks 69020000 200503 No 37817 0.01
Cement 25230000 200503 MT 2868.25 0.71
4.21
0
3944.62
0
0
29570.18
0
0
2.26
5.25
25.77
0
0
25775.7
2.64
0
2475.38
0
PRODUCTS - FINISHED PRODUCTS - U E M India (Curr: Rs in Cr.)

Water Pollution Control Eqpt. 84198904 200703 NA 100
Water Pol Contl Plants Aerobic 84100000 200703 No 0
Water Pol Con Plants Anaerobic 84100000 200703 No 0
0 0 0 0 51.81
0 0 9 0 0
0 0 4 0 0
0 0 0 0 49.42
0 0 9 0 0
0 0 0 0 0
0 0 0 0 27.06
0 0 2 0 0
0 0 3 0 0
0
0
0
0
0
0
0
0
0
RATIOS - VALUATION RATIOS - U E M India
200003 200103 200203 200303 200403 200503 200603 200703

Price Earning (P/E) 0 0 0 0 0 0 0 0
Price to Book Value ( P/BV) 0 0 0 0 0 0 0 0
Price/Cash EPS (P/CEPS) 0 0 0 0 0 0 0 0
EV/EBIDTA 0 0 0 0 0 0 0 0
Market Cap/Sales 0 0 0 0 0 0 0 0
RATIOS - KEY FINANCIAL RATIOS - U E M India
200003 200103 200203 200303 200403 200503 200603 200703

Key Ratios
Debt-Equity Ratio 3 2.43 1.85 0.8 0.74 1.37 1.77 2.08
Long Term Debt-Equity Ratio 3 2.43 1.85 0.8 0.74 1.37 1.47 1.43
Current Ratio 3.43 3.21 3.85 2.15 2.1 2.97 2.02 1.54
Turnover Ratios
Fixed Assets 8.41 14.94 14.29 9.42 12.98 11.74 13.69 13.83
Inventory 38.32 44 35.52 34.43 47.66 24.94 21.44 29.19
Debtors 3.29 5.6 5.37 3.77 4.13 3.27 3.33 2.42
Interest Cover Ratio 4.4 11.82 16 10 5.13 3.03 1.63 3.05
PBIDTM (%) 4.3 8.88 7.23 7.56 7.34 5.1 3.5 8.01
PBITM (%) 3.38 8.38 6.72 6.87 6.79 4.47 3.14 7.7
PBDTM (%) 3.53 8.17 6.81 6.87 6.02 3.62 1.58 5.48
CPM (%) 3.38 6.71 4.58 4.87 4.91 2.88 1.11 3.57
APATM (%) 2.46 6.21 4.08 4.18 4.36 2.25 0.75 3.26
ROCE (%) 4.88 20.41 14.1 13.02 13.04 7.8 7.32 14.31
RONW (%) 14.22 51.83 24.34 14.3 14.56 9.3 4.84 18.68
FINANCE -CASH FLOW - U E M India (Curr: Rs in Cr.)
200603 200703
Cash Flow Summary
Net Cash from Operating Activities -3.27 -0.31
Net Cash Used in Investing Activities -6 -3.23
Net Inc/(Dec) in Cash and Cash Equivalent -0.5 0.07
FINANCE -FUNDS FLOW - Actual - U E M India (Curr: Rs in Cr.)
200003 200103 200203 200303 200403 200503 200603 200703

Sources of funds
Cash profit 1.12 1.61 1.06 0.78 0.89 1.91 0.56 1.85
Increase in equity 1.1 0 0 0 1.11 0 0 0
Increase in other networth 0.83 0 0 0 0 0.94 0.58 0.16
Increase in loan funds 6.76 0.43 0.34 0 8.02 1.88 7.27 3.33
Decrease in gross block 0 0 0 0 0 0 0 0
Decrease in investments 0 0 0 0 0 0 0.13 0
Decrease in working capital 0 0 0 7.18 0 0 0 0
Others 0 0 0 0 0 0 0 0
Total Inflow 9.81 2.04 1.4 7.96 10.02 4.73 8.54 5.34
Cash loss 0 0 0 0 0 0 0 0
Decrease in networth 0 0.02 0 0.07 0.67 0 0 0
Decrease in loan funds 0 0 0 7.53 0 0 0 0
Increase in gross block 1.55 0.11 0.01 0.05 0.09 1.49 6.72 3.36
Increase in investments 0 0 0 0.13 0 0 0 0
Increase in working capital 8.26 1.69 1.39 0 8.62 1.91 1.82 1.98
Dividend 0 0.22 0 0.17 0.18 0.33 0 0
Others 0 0 0 0.01 0.46 1 0 0
Total Outflow 9.81 2.04 1.4 7.96 10.02 4.73 8.54 5.34
FINANCE -PROFIT AND LOSS - U E M India (Curr: Rs in Cr.)
200003 (12) 200103 (12) 200203 (12) 200303 (12)

INCOME :
Sales Turnover 13.03 23.98 23.8 16.01
Excise Duty 0 0 0 0
Net Sales 13.03 23.98 23.8 16.01
Other Income 0.4 0.53 0.44 0.57
Stock Adjustments 0 0 0 0.01
Total Income 13.43 24.51 24.24 16.59
EXPENDITURE :
Raw Materials 10.02 18.02 17.9 10.47
Power & Fuel Cost 0 0 0 0
Employee Cost 1.22 1.51 1.67 1.92

Interest 0.1 0.17 0.1 0.11
Gross Profit 0.46 1.96 1.62 1.1
Depreciation 0.12 0.12 0.12 0.11
Tax 0.02 0.35 0.53 0.32

P & L Balance brought forward 0 0 0 0
P & L Balance carried down 0 0 0 0
Dividend 0 0.22 0 0.17


200403 (12) 200503 (12) 200603 (12) 200703 (12)
18.11 27.06 49.42 51.81

0 0 0 0
18.11 27.06 49.42 51.81
0.54 0.44 0.35 0.51
0 0.04 1.14 -1.18
18.65 27.54 50.91 51.14
12.52 20.43 47.33 39.89

0 0 0 0
2.11 2.77 3.31 3.75
0.15 0.06 0.08 0.08
0.89 2.59 4.03 5.1
1.65 0.31 0.41 0.54
0 0 5.98 2.37
17.32 26.16 49.18 46.99
1.33 1.38 1.73 4.15

0.24 0.4 0.95 1.31
1.09 0.98 0.78 2.84
0.1 0.17 0.18 0.16
0.99 0.81 0.6 2.68
0.2 0.2 0.15 0.93
0 0 0.08 0.08
0 0 0 -0.02
0.79 0.61 0.37 1.69
0.01 0 0 0
0.78 0.61 0.37 1.69
0 0 0 0.01
0 0.95 0.43 0.8
0 0 0 0
0.79 1.13 0 0
0 0.43 0.8 2.5
0.18 0.33 0 0
0 0 0 0
15 15 0 0
3.48 2.53 1.67 7.65

26.92 32.44 36.74 45.11
FINANCE -BALANCE SHEET - U E M India (Curr: Rs in Cr.)
200003 200103 200203 200303 200403 200503 200603

SOURCES OF FUNDS :
Share Capital 1.1 1.1 1.1 1.1 2.21 2.21 2.21
Reserves Total 1.15 2.4 4.84 5.26 4.74 4.96 5.91
Secured Loans 0 0 0 0 0 2.37 9.64
Unsecured Loans 6.76 7.19 7.53 0 8.02 7.53 7.53
Total Debt 6.76 7.19 7.53 0 8.02 9.9 17.17
Gross Block 1.55 1.66 3.14 3.19 2.06 3.55 3.67
Less : Accumulated Depreciation 0.8 0.92 1.01 1.12 0 1.3 1.49
Net Block 0.75 0.74 2.13 2.07 2.06 2.25 2.18
Lease Adjustment 0 0 0 0 0 0 0
Capital Work in Progress 0 0 0 0 0 0 6.6
Investments 0 0 0 0.13 0.13 0.13 0
Inventories 0.34 0.75 0.59 0.34 0.42 1.75 2.86
Sundry Debtors 3.96 4.6 4.27 4.23 4.54 12 17.7
Cash and Bank 5.03 6.67 6.94 8.28 9.82 6.01 3.63
Provisions 0.07 0.33 0.1 0.31 0.34 0.54 0.2
Miscellaneous Expenses not written off 0 0 0 0 0 0 0
Deferred Tax Assets 0 0 0 0.03 0.09 0.02 0.06
Deferred Tax Liability 0 0 0 0.06 0.06 0.02 0.05
Net Deferred Tax 0 0 0 -0.03 0.03 0 0.01
Total Assets 9.01 10.69 13.47 6.36 14.97 17.07 25.29
Contingent Liabilities 3.74 1.32 1.49 0.75 0 7.07 10.54

200703
2.21
7.76
9.97
12.28
8.22
20.5
30.47
3.82
1.65
0
2.17
0
9.81
0
0.69
25.18
2.96
8.55
37.38
18.7
0.22
18.92
18.46
0
0.07
0.04
0.03
30.47
16.42
PRODUCTS - RAW MATERIALS - Tungabhadra Stl. (Curr: Rs in Cr.)

Steel Castings 73250000 200703 NA 0
Iron&Steel incl Stainless Stee 72000000 200703 MT 110
Others 11044 200703 NA 0
Steel Castings 73250000 200603 NA 0
Iron&Steel incl Stainless Stee 72000000 200603 MT 133
Others 11044 200603 NA 0
0.07 0
0.4 36363.64
0 0
0.88 0
0.03 0
0.34 25563.91
0 0
0.44 0
2.41 0
PRODUCTS - FINISHED PRODUCTS - Tungabhadra Stl. (Curr: Rs in Cr.)

Hydro Mechanical Equip & Steel 11044 200703 MT 80.43
Services 10044 200703 NA 25.24
Power Generation 27160000 200703 Uni 19.57
Sales 1044 200703 NA 0
Adjustment 37044 200703 NA -25.24
Hydro Mechanical Equip & Steel 11044 200603 MT 81.53
Power Generation 27160000 200603 Uni 18.47
Services 10044 200603 NA 17.36
Sales 1044 200603 NA 0
Adjustment 37044 200603 NA -17.36
Sales 1044 200503 NA 63.16
Services 10044 200503 NA 31.09
Power Generation 27160000 200503 NA 5.75
1.11 8213 91 92.782 4.11
0 0 0 0 1.29
65.5 5009000 3281000 3281000 1
0 0 0 0 0
0 0 0 0 -1.29
1.27 8213 104 1793 5.87
88.56 5009000 4436000 4436000 1.33
0 0 0 0 1.25
0 0 0 0 0
0 0 0 0 -1.25
0 0 0 0 5.16
0 0 0 0 2.54
0 0 0 0 0.47
442973.85
0
3.05
0
0
32738.43
3
0
0
0
0
0
0
RATIOS - VALUATION RATIOS - Tungabhadra Stl.
200003 200503 200603 200703

Price Earning (P/E) 0 0 0 0
Price to Book Value ( P/BV) 0 0 0 0
Price/Cash EPS (P/CEPS) 0 0 0 0
EV/EBIDTA 0 0 0 0
Market Cap/Sales 0 0 0 0
RATIOS - KEY FINANCIAL RATIOS - Tungabhadra Stl.
200003 200503 200603 200703

Key Ratios
Debt-Equity Ratio 4.56 0 0 0
Long Term Debt-Equity Ratio 4.56 0 0 0
Current Ratio 1.37 0.41 0.36 0.32
Turnover Ratios
Fixed Assets 1.41 0.38 0.34 0.24
Inventory 0.75 1.16 1.46 2.5
Debtors 0.82 0.77 0.62 0.45
Interest Cover Ratio 1.01 -2.1 -0.87 -0.27
PBIDTM (%) 29.24 -476.38 -185.83 -87.08
PBITM (%) 26.64 -476.38 -195 -99.61
PBDTM (%) 2.88 -702.82 -408.75 -450.88
CPM (%) 2.88 -704.04 -408.89 -451.08
APATM (%) 0.29 -704.04 -418.06 -463.6
ROCE (%) 22.62 0 0 0
RONW (%) 1.34 0 0 0
FINANCE -FUNDS FLOW - Actual - Tungabhadra Stl. (Curr: Rs in Cr.)
200003 200503 200603 200703

Sources of funds
Cash profit 9.44 0 0 0

Increase in equity 7.09 8.44 0 0
Increase in other networth 0 0 0 0
Increase in loan funds 30.56 146.47 17.98 46.19
Decrease in gross block 0 0 0.45 0
Decrease in investments 0 0 0 0
Decrease in working capital 0 15.34 10.99 0
Others 0 0 0.44 0
Total Inflow 47.09 170.25 29.86 46.19
Cash loss 0 44.55 29.86 36.87

Decrease in networth 0.47 103.59 0 0
Decrease in loan funds 0 0 0 0
Increase in gross block 22.38 21.67 0 0
Increase in investments 0 0 0 0
Increase in working capital 24.16 0 0 9.32
Dividend 0 0 0 0
Others 0.08 0.44 0 0
Total Outflow 47.09 170.25 29.86 46.19
FINANCE -PROFIT AND LOSS - Tungabhadra Stl. (Curr: Rs in Cr.)
200003 (12) 200503 (12) 200603 (12) 200703 (12)

INCOME :
Sales Turnover 31.57 8.17 7.2 5.11
Excise Duty 0.03 0.04 0 0
Net Sales 31.54 8.13 7.2 5.11
Other Income 2.02 0.55 2.7 2.68
Stock Adjustments 9.65 -7.56 -3.97 -1.19
Total Income 43.21 1.12 5.93 6.6
EXPENDITURE :
Raw Materials 13.17 2.41 0.8 1.35
Power & Fuel Cost 0.55 0.14 0.11 0.16
Employee Cost 10.82 10.3 6.88 20.76
Operating Profit 9.22 -38.92 -13.38 -18.26

Interest 8.32 18.5 16.05 18.59
Gross Profit 0.9 -57.42 -29.43 -36.85
Depreciation 0.82 0 0.66 0.64
Profit Before Tax 0.08 -57.42 -30.09 -37.49
Tax 0 0.1 0 0
Fringe Benefit tax 0 0 0.01 0.01
Reported Net Profit 0.08 -57.52 -30.1 -37.5
Extraordinary Items -0.01 -3.93 -0.01 -13.81
Adjusted Net Profit 0.09 -53.59 -30.09 -23.69

P & L Balance brought forward 0 -103.59 -161.11 -191.21
Appropriations 0.08 0 0 0
P & L Balance carried down 0 -161.11 -191.21 -228.71
Dividend 0 0 0 0
Earnings Per Share-Unit Curr 11.28 0 0 0

Book Value-Unit Curr 944.99 -18088.86 -21655.21 -26098.34
FINANCE -BALANCE SHEET - Tungabhadra Stl. (Curr: Rs in Cr.)
200003 200503 200603 200703

SOURCES OF FUNDS :
Share Capital 7.09 8.44 8.44 8.44
Reserves Total -0.39 -161.11 -191.21 -228.71
Total Shareholders Funds 6.7 -152.67 -182.77 -220.27
Secured Loans 0 24.15 27.09 29.8
Unsecured Loans 30.56 122.32 137.36 180.84
Total Debt 30.56 146.47 164.45 210.64
Total Liabilities 37.26 -6.2 -18.32 -9.63
Gross Block 22.38 21.67 21.22 21.22
Less : Accumulated Depreciation 9.36 12.97 13.21 13.84
Less:Impairment of Assets 0 0 0 0
Net Block 13.02 8.7 8.01 7.38
Lease Adjustment 0 0 0 0
Capital Work in Progress 0 0 0 0
Investments 0 0 0 0
Inventories 42.06 7.06 2.83 1.26
Sundry Debtors 38.37 10.56 12.71 10.11
Cash and Bank 2.96 1.63 2.63 5.11
Loans and Advances 5.48 3.73 3.25 2.51
Total Current Assets 88.87 22.98 21.42 18.99
Current Liabilities 62.28 35.74 43.26 34.38
Provisions 2.43 2.58 4.49 1.62
Total Current Liabilities 64.71 38.32 47.75 36
Net Current Assets 24.16 -15.34 -26.33 -17.01
Miscellaneous Expenses not written off 0.08 0.44 0 0
Deferred Tax Assets 0 0 0 0
Deferred Tax Liability 0 0 0 0
Net Deferred Tax 0 0 0 0
Total Assets 37.26 -6.2 -18.32 -9.63
Contingent Liabilities 24.04 20.21 13.32 11.99

PRODUCTS - RAW MATERIALS - Triveni Struct. (Curr: Rs in Cr.)
Steel 72000000 200203 MT 1014 1.86
Adjustment 37044 200203 NA 0 -0.46
Others 11044 200203 MT 1051 0
Bought out Items 1044 200203 NA 0 1.37
Zinc 79010000 200203 MT 32 0.19
Zinc 79010000 200103 MT 26 0.2
Steel 72000000 200103 MT 1058 1.97
Adjustment 37044 200103 NA 0 0.11
Others 11044 200103 MT 373 0
Others 11044 200003 MT 280 0
Steel 72000000 200003 MT 2458 3.75
Zinc 79010000 200003 MT 32 0.25
Adjustment 37044 200003 NA 0 0.17
Other 11044 199903 MT 471 0
Adjustment 37044 199903 NA 0 -0.12
Steel 72000000 199903 MT 436 0.38
Zinc 79010000 199903 MT 133 0.98
Steel 72000000 199803 MT 1621 2.99
Adjustment 37044 199803 NA 0 -0.25
Other 11044 199803 MT 3779 0
Zinc 79010000 199803 MT 48 0.39
Unspecified 11044 199703 NA 0 17.06
Unspecified 11044 199603 NA 0 7.48
Unspecified 11044 199503 NA 0 7.02
18343.2
0
0
0
0
59375
76923.08
18620.04
0
0
0
0
0
0
15256.31
78125
0
0
0
0
0
0
8715.6
73684.21
18445.4
0
0
0
0
81250
0
0
0
PRODUCTS - FINISHED PRODUCTS - Triveni Struct. (Curr: Rs in Cr.)

Towers 73082000 200203 MT 26.84
Hydraulic Structures and Gates 28251000 200203 MT 26.59
Pipes and Penstocks 84099906 200203 MT 24.06
Railway Wagon Repairing 73029000 200203 No 17.02
Pressure vessels and Tanks 84198901 200203 MT 2.1
Miscellaneous 11044 200203 MT 1.8
Jobwork Income 10044 200203 NA 1.24
Building Structures 68101100 200203 MT 0.34
Cranes & Mechanical Equipments 84269900 200203 MT 0
Cruicibles Blast Furnace 69032009 200203 MT 0
Towers 73082000 200103 MT 35.56
Pressure vessels and Tanks 84198901 200103 MT 0
Towers 73082000 200003 MT 26.76
Building Structures 68101100 200003 MT 13
Pressure vessels and Tanks 84198901 200003 MT 0
Towers 73082000 199903 MT 22.59
Railway Wagon Repairing 73029000 199903 No 0
Towers 73082000 199803 MT 10.33
Railway Wagon Repairing 73029000 199803 No 0
Jobwork Income 10044 199803 NA 0
19.75 6500 1284 862 6.26
63.88 800 511 452 6.2
132 800 1056 1056 5.61
0 0 0 259 3.97
0 800 0 144 0.49
100 400 400 53 0.42
0 0 0 0 0.29
0 13600 0 0 0.08
0 0 0 0 0
100 400 400 0 0
0 0 0 0 0
8.86 6500 576 900 5.65
51.25 800 410 506 4.23
0 0 0 298 4.17
0.7 13600 95 87 0.81
36.88 800 295 0 0.61
0 0 0 0 0.27
10.25 400 41 37 0.15
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 800 0 0 0
8.26 6500 537 803 3.58
7 800 56 526 3.47
60.63 800 485 431 3.03
1.99 13600 270 491 1.74
0 0 0 100 1.4
12 400 48 48 0.14
0 0 0 0 0.02
0 0 0 0 0
0 800 0 0 0
0 0 0 0 0
0 0 0 0 0
132.38 800 1059 338 11.06
7.89 6500 513 1018 4.64
1.65 13600 225 4 3.84
6.75 800 54 6 0.62
3.25 800 26 18 0.21
2.25 400 9 43 0.12
0 0 0 0 0.05
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
72.13 800 577 3670 18.21
10.38 800 83 184 8.15
22.68 13600 3085 4776 5.64
35.13 800 281 661 5.51
27 6500 1755 1349 4.39
28.75 400 115 182 0.6
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 33.4
0 0 0 0 23.2
0 0 0 0 19.08
72621.81
137168.14
53125
153281.85
34027.78
79245.28
0
0
0
0
0
62777.78
83596.84
139932.89
93103.45
0
0
40540.54
0
0
0
0
44582.81
65969.58
70301.62
35437.88
140000
29166.67
0
0
0
0
0
327218.93
45579.57
9600000
1033333.33
116666.67
27906.98
0
0
0
0
0
49618.53
442934.78
11809.05
83358.55
32542.62
32967.03
0
0
0
0
0
0
0
0
RATIOS - VALUATION RATIOS - Triveni Struct.
199503 199603 199703 199803 199903 200003 200103 200203

Price Earning (P/E) 0 0 0 0 0 0 0 0
Price to Book Value ( P/BV) 0 0 0 0 0 0 0 0
Price/Cash EPS (P/CEPS) 0 0 0 0 0 0 0 0
EV/EBIDTA 0 0 0 0 0 0 0 0
Market Cap/Sales 0 0 0 0 0 0 0 0
RATIOS - KEY FINANCIAL RATIOS - Triveni Struct.
199503 199603 199703 199803 199903 200003 200103 200203

Key Ratios
Debt-Equity Ratio 0 0 0 0 0 0 0 0
Long Term Debt-Equity Ratio 0 0 0 0 0 0 0 0
Current Ratio 0.53 0.54 0.56 0.65 0.69 0.56 0.52 0.5
Turnover Ratios
Fixed Assets 1.23 1.47 1.95 2.23 1.02 0.67 0.79 1.16
Inventory 1.63 1.59 1.51 1.83 1.21 0.88 1.06 1.85
Debtors 1.34 1.34 1.56 2.33 1.58 1.24 1.61 1.88
Interest Cover Ratio -1.07 -0.4 0.69 -0.43 -4.44 -3.14 -2.15 -0.17
PBIDTM (%) -31.55 -8.19 10.9 -2.85 -94.99 -146.71 -146.13 -2.74
PBITM (%) -33.65 -9.83 9.46 -4.4 -98.3 -151.72 -149.97 -4.76
PBDTM (%) -63 -32.97 -2.81 -13.08 -117.14 -194.99 -215.98 -31.39
CPM (%) -63 -32.97 -7.31 -13.08 -117.14 -194.99 -215.98 -31.39
APATM (%) -65.09 -34.61 -8.74 -14.64 -120.45 -200 -219.82 -33.4
ROCE (%) 0 0 0 0 0 0 0 0
RONW (%) 0 0 0 0 0 0 0 0
FINANCE -FUNDS FLOW - Actual - Triveni Struct. (Curr: Rs in Cr.)
199503 199603 199703 199803 199903 200003 200103 200203

Sources of funds
Cash profit 0 0 0 0 0 0 0 0
Increase in equity 10.24 0 0.6 6.79 0.39 0 0 0
Increase in other networth 0 0 0 0 0 0 0 0
Increase in loan funds 39.94 14.31 4.21 8.78 4.9 17.69 46.88 11.77
Decrease in gross block 0 0 0 0 0 0.08 0 0
Decrease in investments 0 0 0 0 1.01 0.01 0 0
Decrease in working capital 5.94 0 0.07 0 17.76 8.49 0 1.34
Others 0 0 0.36 5.68 0 0 0 0
Total Inflow 56.12 14.31 5.24 21.25 24.06 26.27 46.88 13.11
Cash loss 1.81 7.65 2.43 7.41 24.06 26.18 45.31 11.77
Decrease in networth 37.57 0 0 0 0 0.09 0 0
Decrease in loan funds 0 0 0 0 0 0 0 0
Increase in gross block 15.72 0.81 2.81 0.74 0 0 0.04 0.08
Increase in investments 1.02 0 0 0 0 0 0 0
Increase in working capital 0 2.81 0 13.1 0 0 1.53 0
Dividend 0 0 0 0 0 0 0 0
Others 0 3.04 0 0 0 0 0 1.26
Total Outflow 56.12 14.31 5.24 21.25 24.06 26.27 46.88 13.11
FINANCE -PROFIT AND LOSS - Triveni Struct. (Curr: Rs in Cr.)
199803 (12) 199903 (12) 200003 (12) 200103 (12)

INCOME :
Sales Turnover 42.5 20.54 13.38 15.89
Excise Duty 1.36 0.64 2.05 1.45
Net Sales 41.14 19.9 11.33 14.44
Other Income 8.83 0.78 1.18 12.06
Stock Adjustments -7.95 -7.74 2.52 -2.08
Total Income 42.02 12.94 15.03 24.42
EXPENDITURE :
Raw Materials 7.66 1.95 6.19 5.27
Power & Fuel Cost 0.61 0.64 0.8 0.64
Employee Cost 19.07 16.67 17.92 36.15
Less: Pre-operative Expenses Capitalised 0 0 0 0.11
Operating Profit -3.07 -19.51 -19.63 -34.22

Interest 4.35 4.55 6.46 11.1
Gross Profit -7.42 -24.06 -26.09 -45.32
Depreciation 0.66 0.68 0.67 0.61
Profit Before Tax -8.08 -24.74 -26.76 -45.93
Tax 0 0 0 0
Reported Net Profit -8.08 -24.74 -26.76 -45.93
Extraordinary Items -1.86 -0.09 0.03 -11
Adjusted Net Profit -6.22 -24.65 -26.79 -34.93

P & L Balance brought forward -61.03 -69.11 -93.85 -120.61
Appropriations 0 0 0 0
P & L Balance carried down -69.11 -93.85 -120.61 -166.54
Dividend 0 0 0 0
Earnings Per Share-Unit Curr 0 0 0 0

Book Value-Unit Curr -2914.92 -4203.11 -5693.12 -8241.95
200203 (12)
23.32
2.42
20.9
6.43
-2.18
25.15
2.96
0.58
17.65
6.5
2.62
0
0.08
30.23
-5.08
6.68
-11.76
0.47
-12.23
0
0
0
-12.23
-4.44
-7.79
0
-166.54
0
0
-178.77
0
0
0
0
-8920.64
FINANCE -BALANCE SHEET - Triveni Struct. (Curr: Rs in Cr.)
199803 199903 200003 200103 200203

SOURCES OF FUNDS :
Share Capital 20.63 21.02 21.02 21.02 21.02
Reserves Total -69.02 -93.76 -120.61 -166.54 -178.77
Total Shareholders Funds -48.39 -72.74 -99.59 -145.52 -157.75
Secured Loans 33.22 35.1 38.76 42.78 42.46
Unsecured Loans 34.02 37.04 51.07 93.93 106.02
Total Debt 67.24 72.14 89.83 136.71 148.48
Total Liabilities 18.85 -0.6 -9.76 -8.81 -9.27
Gross Block 20.07 20.08 20 20.04 20.12
Less : Accumulated Depreciation 12.15 12.83 13.41 14.03 14.49
Less:Impairment of Assets 0 0 0 0 0
Net Block 7.92 7.25 6.59 6.01 5.63
Lease Adjustment 0 0 0 0 0
Capital Work in Progress 0.01 0 0 0 0
Investments 1.02 0.01 0 0 0
Inventories 19.78 14.11 16.17 13.93 11.3
Sundry Debtors 13.91 12.06 9.55 10.15 14.6
Cash and Bank 0.97 1.91 2.65 1.16 1.01
Loans and Advances 8.63 9.9 10.24 9.56 4.42
Total Current Assets 43.29 37.98 38.61 34.8 31.33
Current Liabilities 32.94 45.4 53.71 42.31 40.15
Provisions 0.45 0.44 1.25 7.31 7.34
Total Current Liabilities 33.39 45.84 54.96 49.62 47.49
Net Current Assets 9.9 -7.86 -16.35 -14.82 -16.16
Miscellaneous Expenses not written off 0 0 0 0 1.26
Deferred Tax Assets 0 0 0 0 0
Deferred Tax Liability 0 0 0 0 0
Net Deferred Tax 0 0 0 0 0
Total Assets 18.85 -0.6 -9.76 -8.81 -9.27
Contingent Liabilities 12.28 12.65 11.25 4.67 4.29

PRODUCTS - RAW MATERIALS - Tebma Shipyards (Curr: Rs in Cr.)

Pipes 73063000 200803 NA 0
Steel 72000000 200803 NA 0
Components & Others 7044 200803 NA 0
Engine Room Components 84070000 200803 NA 0
Engine Room Components 84070000 200703 NA 0
Pipes 73063000 200703 NA 0
Steel 72000000 200703 NA 0
Components & Others 7044 200703 NA 0
Others incl.Components 11044 199403 NA 0
25.67 0
51.13 0
0 0
0 0
91.58 0
118.92 0
18.54 0
17.49 0
24.91 0
0 0
0 0
40.84 0
0 0
0.27 0
0 0
2.64 0
13.65 0
2.61 0
-0.22 0
1.58 0
9.46 0
10.06 0
46.02 0
30.78 0
16.972 0
23.59 0
10.88 0
0 0
3.27 0
4 0
PRODUCTS - FINISHED PRODUCTS - Tebma Shipyards (Curr: Rs in Cr.)

Income from operations 10044 200803 NA 59.87
Platform Supply Vessels 89010000 200803 No 24.8
Subsidy 13044 200803 NA 13.28
Barger's 11044 200803 No 2.05
Dredgers 89051000 200803 No 0
Steel Boats 11044 200803 No 0
Tugs 11044 200803 No 0
Offshore Vessels 84431900 200803 No 0
Material Handling Equipment 84000000 200803 No 0
Income from operations 10044 200703 NA 49.32
Tugs 11044 200703 No 30.92
Platform Supply Vessels 89010000 200703 No 19.76
Dredgers 89051000 200703 No 0
Income from operations 10044 200603 NA 100
Tugs 11044 200603 No 0
Dredgers 89051000 200603 No 0
Tugs 11044 200503 No 0
Dredgers 89051000 200503 No 0
Dredgers 89051000 199503 No 0
Floating Crafts-Others 89050000 199503 NA 0
Spares 7044 199503 NA 0
Dredgers 89051000 199403 No 42.13
Unspecified 11044 199403 NA 31.09
Others 11044 199403 NA 17.99
Floating Crafts-Others 89050000 199403 NA 5.04
Spares 7044 199403 NA 3.74
Dredgers 89051000 199303 No 95.46
Others 11044 199303 NA 2.54
Spares 7044 199303 NA 2
Floating Crafts-Others 89050000 199303 NA 0
0 0 0 0 262.81
0 0 4 4 108.87
0 0 0 0 58.29
0 0 1 1 9
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 67.81
0 0 2 2 42.51
0 0 1 1 27.16
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 87.64
0 0 5 0 0
0 0 0 0 0
0 0 2 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 42.67
0 0 4 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 27.63
0 0 0 0 8.92
0 0 0 0 12.31
0 0 0 0 46.54
0 0 0 0 40.55
0 0 0 0 38.21
0 0 0 0 27.53
0 0 0 0 23.15
0 0 0 0 25.49
0 0 0 0 24.73
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 8.78
0 0 0 0 6.48
0 0 0 0 3.75
0 0 0 0 1.05
0 0 0 0 0.78
0 0 0 0 10.52
0 0 0 0 0.28
0 0 0 0 0.22
0 0 0 0 0
0
272175000
0
90000000
0
0
0
0
0
0
212550000
271600000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
RATIOS - VALUATION RATIOS - Tebma Shipyards
199403 199503 199603 199703 199803 199903 200003 200103 200209

Price Earning (P/E) 0 0 0 0 2.88 0 0 0 0
Price to Book Value ( P/BV) 0 0 0 0 0.1 0 0 0 0
Price/Cash EPS (P/CEPS) 0 0 0 0 2.22 0 0 0 0
EV/EBIDTA 0 0 0 0 0.46 0 0 0 0
Market Cap/Sales 0 0 0 0 0.06 0 0 0 0
200303 200403 200503 200603 200703 200803
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
RATIOS - KEY FINANCIAL RATIOS - Tebma Shipyards
199403 199503 199603 199703 199803 199903 200003 200103 200209

Key Ratios
Long Term Debt-Equity Ratio 0.04 0.01 0 0.25 0.26 0 0 0 0
Current Ratio 1.5 2.41 2.49 3.07 2.18 1.5 1.36 1.5 1.66
Turnover Ratios
Fixed Assets 26.21 26.74 13.56 8.24 8.81 11.16 11.16 12.39 2.18
Inventory 7.76 9.4 10.69 5.17 3.65 3.71 1.78 2.46 2.4
Debtors 48.47 24.25 13.7 5.7 4.79 6.2 9.12 12.14 1.96
Interest Cover Ratio 44.75 39.25 10.66 1.13 1.4 2.04 2.03 3.01 -6.06
PBIDTM (%) 17.42 19.37 21.38 5.92 10.5 6.41 7.97 5.93 -58.57
PBITM (%) 17.18 19.05 20.91 5.27 9.92 5.91 7.55 5.63 -60.03
PBDTM (%) 17.03 18.88 19.42 1.25 3.41 3.51 4.24 4.06 -68.48
CPM (%) 12 14.6 15.18 1.17 2.69 2.51 2.79 2.39 -66.29
APATM (%) 11.76 14.27 14.71 0.52 2.11 2.02 2.37 2.08 -67.75
ROCE (%) 84.83 48.11 33.81 6.25 14.63 14.41 18.38 15.23 0
RONW (%) 65.95 40.72 25.84 0.75 3.74 4.87 5.94 5.84 0
200303 200403 200503 200603 200703 200803
0.4 0.11 0 0.34 0.68 1.47

0.12 0.11 0 0.34 0.68 1.47
1.3 1.31 1.22 1.09 1.85 3.18
5.7 10.88 15.75 18.63 16.05 26.75

28.54 138.15 177.79 48.02 57.52 23.56
4.48 7.85 24.04 6.18 7.91 38.95
6.43 1.58 2.38 3.6 2.23 6.22
22.09 4.71 5.84 8.81 8.79 19.76
21.64 4.42 5.62 8.3 8.03 18.99
18.72 1.92 3.47 6.5 5.19 16.71
17.6 1.19 3.05 5.65 3.83 15.23
17.15 0.9 2.84 5.13 3.08 14.46
43.81 13.17 27.63 51.74 14.9 31.41
44.32 2.83 13.7 42.49 9.6 59.06
FINANCE -CASH FLOW - Tebma Shipyards (Curr: Rs in Cr.)
199603 199803 199903 200003 200103 200209

Cash Flow Summary
Net Cash from Operating Activities 8.21 12.5 -5.99 5.44 -7.12 -3.43
Net Cash Used in Investing Activities -5.81 -7.21 5.15 6.66 -0.98 0.06
Net Cash Used in Financing Activities -1.59 -8 0.44 -0.26 -0.5 0.3
Net Inc/(Dec) in Cash and Cash Equivalent 0.81 -2.71 -0.4 11.84 -8.6 -3.07
200303 200403 200503 200603 200703 200803
0.53 1.18 16.54 12.88 23.72 66.71

1.37 17.25 -1.46 17.25 -1.01 -96.42
1.32 0.27 -1.19 -11.38 -23.65 -79.38
-2.04 -2.16 -1.01 4.97 67.65 191.33
0.65 15.36 -3.66 10.84 42.99 15.53
1.18 16.54 12.88 23.72 66.71 82.24
FINANCE -FUNDS FLOW - Actual - Tebma Shipyards (Curr: Rs in Cr.)
199403 199503 199603 199703 199803 199903 200003 200103 200209

Sources of funds
Cash profit 2.47 3.61 3.87 0.26 0.74 0.96 1.13 1.11 0
Increase in equity 0.61 0.79 0 1.3 0 1.3 0 0 0
Increase in other networth 0 3.99 0.64 0 0 0 0 0 0
Increase in loan funds 0 2.24 0 6.78 0 0.84 0.1 0 1.95
Decrease in gross block 0.01 0 0 0 0 0 0 0 0
Decrease in investments 0 0 0 0.01 0 0 0 0 0
Decrease in working capital 0 0 0 0 7.64 0 0 0 9.75
Others 0 0.02 0 0 0.12 0.13 0.12 0.13 0.18
Total Inflow 3.09 10.65 4.51 8.35 8.5 3.23 1.35 1.24 11.88
Cash loss 0 0 0 0 0 0 0 0 8.16

Decrease in networth 0.61 0 0 2.12 0.03 1.26 0.28 0 3.58
Decrease in loan funds 0.91 0 1.1 0 7.67 0 0 0.11 0
Increase in gross block 0 0.5 1.41 0.22 0.41 0.19 0.23 0.01 0.02
Increase in investments 0 1.9 0.21 0 0 0.01 0.02 0 0.12
Increase in working capital 1.09 7.76 0.37 5.59 0 1.41 0.43 0.73 0
Dividend 0.36 0.49 0.52 0.34 0.39 0.36 0.39 0.39 0
Others 0.12 0 0.9 0.08 0 0 0 0 0
Total Outflow 3.09 10.65 4.51 8.35 8.5 3.23 1.35 1.24 11.88
200303 200403 200503 200603 200703 200803
1.56 0.29 1.81 4.92 5.27 66.87

0 0 0 0 2.57 0
0.02 0 0 0 56.58 0
0 0 0 7 46.11 209.43
1.3 0 0 0 0 0
0 0.57 1.25 0.21 0 0.99
0 0.55 0.31 1.37 0 0
0.07 0.12 0.13 0.08 0 0
2.95 1.53 3.5 13.58 110.53 277.29
0 0 0 0 0 0
0 0.01 0 0.07 0 0
1.74 1.4 0 0 0 0
0 0.12 3.5 12.99 23.04 82.3
0 0 0 0 1.1 0
1.21 0 0 0 86.39 194.99
0 0 0 0.52 0 0
0 0 0 0 0 0
2.95 1.53 3.5 13.58 110.53 277.29
FINANCE -PROFIT AND LOSS - Tebma Shipyards (Curr: Rs in Cr.)
199903 (12) 200003 (12) 200103 (12) 200209 (18)

INCOME :
Sales Turnover 38.21 40.55 46.54 12.31
Excise Duty 0 0 0 0
Net Sales 38.21 40.55 46.54 12.31
Other Income 0.95 1.09 0.33 4.57
Stock Adjustments 6.41 18.6 -26.43 1.16
Total Income 45.57 60.24 20.44 18.04
EXPENDITURE :
Raw Materials 30.78 46.02 10.06 9.46
Power & Fuel Cost 0.23 0.33 0.49 0.47
Employee Cost 0.78 0.88 0.85 0.88
Operating Profit 2.45 3.23 2.76 -7.21

Interest 1.11 1.51 0.87 1.22
Gross Profit 1.34 1.72 1.89 -8.43
Depreciation 0.19 0.17 0.14 0.18
Profit Before Tax 1.15 1.55 1.75 -8.61
Tax 0.38 0.59 0.78 0
Deferred Tax 0 0 0 -0.27
Reported Net Profit 0.77 0.96 0.97 -8.34
Adjusted Net Profit 0.77 0.96 0.97 -8.34
Adjst. below Net Profit 0.05 -0.28 0 0

Appropriations 0.56 0.69 0.59 0
P & L Balance carried down 4.12 4.11 4.49 -3.85
Dividend 0.36 0.39 0.39 0

Equity Dividend % 7 7.5 7.5 0
Earnings Per Share-Unit Curr 1.48 1.84 1.86 0

200303 (6) 200403 (12) 200503 (12) 200603 (12) 200703 (12) 200803 (12)
8.92 27.63 42.67 87.64 137.48 438.97

0 0 0 0 0 0
8.92 27.63 42.67 87.64 137.48 438.97
0.84 0.58 1.64 1.66 5.64 5.72
-1.16 0 0 0 0 0
8.6 28.21 44.31 89.3 143.12 444.69
1.58 2.39 2.64 0.27 101.78 287.3

0.13 0.47 0.49 0.66 1.56 2.48
0.32 0.6 0.88 2.58 4.72 9.67
3.96 21.92 35.25 74.77 16.25 28.59
0.58 1.41 1.81 3.17 4.83 10.11
0.06 0.2 0.16 0.13 1.9 19.8
0 0 0 0 0 0
6.63 26.99 41.23 81.58 131.04 357.95
1.97 1.22 3.08 7.72 12.08 86.74

0.3 0.77 1.01 2.02 4.94 13.4
1.67 0.45 2.07 5.7 7.14 73.34
0.04 0.08 0.09 0.45 1.04 3.4
1.63 0.37 1.98 5.25 6.1 69.94
0 0.03 0.16 0.51 1.7 4.73
0 0 0 0.04 0.07 0.09
0.1 0.13 0.1 0.2 0.1 1.65
1.53 0.21 1.72 4.5 4.23 63.47
0 -0.04 0.51 0.1 0 0
1.53 0.25 1.21 4.4 4.23 63.47
0 0 0 0 0 0
-3.85 -2.32 -2.11 -0.39 3.51 7.74
0 0 0 0 0 0
0 0 0 0.6 0 0
-2.32 -2.11 -0.39 3.51 7.74 71.21
0 0 0 0.52 0 0
0 0 0 0 0 0
0 0 0 10 0 0
5.87 0.4 3.3 8.48 5.44 81.58

12.51 12.9 16.2 23.7 97.34 178.92
FINANCE -BALANCE SHEET - Tebma Shipyards (Curr: Rs in Cr.)
199903 200003 200103 200209 200303 200403 200503

SOURCES OF FUNDS :
Share Capital 5.21 5.21 5.21 5.21 5.21 5.21 5.21
Reserves Total 10.81 11.1 11.68 -0.24 1.31 1.51 3.23
Secured Loans 1.2 1.3 1.19 0.65 0 0 0
Unsecured Loans 0 0 0 2.49 1.4 0 0
Total Debt 1.2 1.3 1.19 3.14 1.4 0 0
Gross Block 3.52 3.75 3.76 3.78 2.48 2.6 2.82
Net Block 2.34 2.4 2.27 2.11 0.78 0.82 1.1
Capital Work in Progress 0 0 0 0 0 0 3.13
Investments 2.11 2.13 2.13 2.25 2.25 1.68 0.43
Inventories 13.5 32.1 5.67 1.16 0.09 0.31 0.17
Sundry Debtors 6.48 2.41 5.26 3.11 4.85 2.19 1.36
Cash and Bank 0.19 12.03 3.43 0.54 1.19 16.54 12.87
Provisions 0.74 0.98 1.17 0.24 0.24 0.03 0.19
Miscellaneous Expenses not written off 0.83 0.71 0.58 0.4 0.33 0.21 0.08
Deferred Tax Assets 0 0 0 0.26 0.19 0.06 0
Deferred Tax Liability 0 0 0 0 0.01 0.01 0.05
Net Deferred Tax 0 0 0 0.26 0.18 0.05 -0.05
Total Assets 17.22 17.61 18.08 8.11 7.92 6.72 8.44

200603 200703 200803
5.21 7.78 7.78

7.14 67.95 131.42
12.35 75.73 139.2
7 19.68 52.42
0 33.43 210.12
7 53.11 262.54
19.35 128.84 401.74
6.59 10.54 22.28

2.14 3.18 6.58
0 0 0
4.45 7.36 15.7
0 0 0
12.35 31.44 102
0.22 1.32 0.33
3.48 1.3 35.97

26.99 7.79 14.75
23.72 66.7 82.24
3.54 64.1 269.68
57.73 139.89 402.64
53.87 50.63 112.89

1.28 0.12 3.97
55.15 50.75 116.86
2.58 89.14 285.78
0 0 0
0 0 0.52
0.25 0.42 2.59
-0.25 -0.42 -2.07
19.35 128.84 401.74
81.68 0 0
RATIOS - VALUATION RATIOS - Sumi Motherson
200003 200103 200203

Price Earning (P/E) 0 0 0
Price to Book Value ( P/BV) 0 0 0
Price/Cash EPS (P/CEPS) 0 0 0
EV/EBIDTA 0 0 0
Market Cap/Sales 0 0 0
RATIOS - KEY FINANCIAL RATIOS - Sumi Motherson
200003 200103 200203

Key Ratios
Debt-Equity Ratio 0.64 0.61 0.53
Long Term Debt-Equity Ratio 0.64 0.61 0.53
Current Ratio 2.46 2.67 3.14
Turnover Ratios
Fixed Assets 1.1 0.69 0.75
Inventory 9.19 5.23 5.17
Debtors 104.25 12.09 7.49
Interest Cover Ratio 2.24 4.61 5.63
PBIDTM (%) 16.5 35.14 26.25
PBITM (%) 8.49 21.6 14.58
PBDTM (%) 12.71 30.45 23.66
CPM (%) 12.71 28.99 22.55
APATM (%) 4.7 15.45 10.89
ROCE (%) 9.83 15.22 10.54
RONW (%) 8.93 17.54 12.06
FINANCE -FUNDS FLOW - Actual - Sumi Motherson (Curr: Rs in Cr.)
200003 200103 200203

Sources of funds
Cash profit 6.44 3.91 3.22

Increase in equity 14 0 0
Increase in other networth 0 0.01 0
Increase in loan funds 7.03 0.64 0
Decrease in gross block 0 0 0
Decrease in investments 0 0 0
Decrease in working capital 0 0 0
Others 0 0 0
Total Inflow 27.47 4.56 3.22
Cash loss 0 0 0
Decrease in networth 4.01 0 0.01
Decrease in loan funds 0 0 0.48
Increase in gross block 19.02 1.28 0.47
Increase in investments 0 0 0
Increase in working capital 4.44 3.28 2.26
Dividend 0 0 0
Others 0 0 0
Total Outflow 27.47 4.56 3.22
FINANCE -PROFIT AND LOSS - Sumi Motherson (Curr: Rs in Cr.)
200003 (12) 200103 (12) 200203 (12)

INCOME :
Sales Turnover 20.85 13.66 15.43
Excise Duty 0.64 1.33 1.25
Net Sales 20.21 12.33 14.18
Other Income 0.53 1.48 1.46
Stock Adjustments -2.7 0.58 -0.05
Total Income 18.04 14.39 15.59
EXPENDITURE :
Raw Materials 3.67 2.65 4.03
Power & Fuel Cost 0.39 0.43 0.49
Employee Cost 2.34 2.45 2.4
Other Manufacturing Expenses 4.77 1.55 2.28
Selling and Administration Expenses 0.83 0.51 0.52
Miscellaneous Expenses 2.6 2 1.82
Less: Pre-operative Expenses Capitalised 0 0 0
Total Expenditure 14.6 9.59 11.54
Operating Profit 3.44 4.8 4.05

Interest 0.79 0.64 0.4
Gross Profit 2.65 4.16 3.65
Depreciation 1.67 1.85 1.8
Profit Before Tax 0.98 2.31 1.85
Tax 0 0.2 0.17
Fringe Benefit tax 0 0 0
Deferred Tax 0 0 0
Reported Net Profit 0.98 2.11 1.68
Extraordinary Items 0 -0.05 -0.01
Adjusted Net Profit 0.98 2.16 1.69
Adjst. below Net Profit 0 0 0

P & L Balance brought forward 0 0 0
Statutory Appropriations 0 0 0
Appropriations 0.98 2.11 1.68
P & L Balance carried down 0 0 0
Dividend 0 0 0
Preference Dividend 0 0 0
Equity Dividend % 0 0 0
Earnings Per Share-Unit Curr 0.7 1.51 1.2

Book Value-Unit Curr 7.84 9.35 10.54
FINANCE -BALANCE SHEET - Sumi Motherson (Curr: Rs in Cr.)
200003 200103 200203

SOURCES OF FUNDS :
Share Capital 14 14 14
Reserves Total -3.03 -0.91 0.76
Total Shareholders Funds 10.97 13.09 14.76
Secured Loans 0 0.16 0.91
Unsecured Loans 7.03 7.51 6.28
Total Debt 7.03 7.67 7.19
Total Liabilities 18 20.76 21.95
Gross Block 19.02 20.3 20.77
Less : Accumulated Depreciation 5.46 7.26 8.8
Less:Impairment of Assets 0 0 0
Net Block 13.56 13.04 11.97
Lease Adjustment 0 0 0
Capital Work in Progress 0 0 0
Investments 0 0 0
Inventories 2.27 2.95 3.02
Sundry Debtors 0.2 2.06 2.06
Cash and Bank 0.17 0.03 2.43
Loans and Advances 4.85 6.89 6.54
Total Current Assets 7.49 11.93 14.05
Current Liabilities 3.05 4.21 4.07
Provisions 0 0 0
Total Current Liabilities 3.05 4.21 4.07
Net Current Assets 4.44 7.72 9.98
Miscellaneous Expenses not written off 0 0 0
Deferred Tax Assets 0 0 0
Deferred Tax Liability 0 0 0
Net Deferred Tax 0 0 0
Total Assets 18 20.76 21.95
Contingent Liabilities 3.4 0 0

PRODUCTS - RAW MATERIALS - Stotz Blacksmith (Curr: Rs in Cr.)

Raw Materail Purchased 44044 199903 NA 0
0.44 0
0.11 0
0.66 0
1.03 0
PRODUCTS - FINISHED PRODUCTS - Stotz Blacksmith (Curr: Rs in Cr.)

Crank Shafts 84831000 199903 No 37.84
Tie Rod Ends 87080000 199903 No 31.08
Roller Mill Shaft 72080000 199903 No 17.57
Forging Rod 73260000 199903 No 5.41
Roller Bearings/Axle Boxes 87085000 199903 No 4.05
Other 11044 199903 NA 4.05
Forging Rod 73260000 199803 No 16.47
Roller-Rolling Mill 84550000 199703 No 17.78
Forging Rod 73260000 199703 No 15.56
Tie Rod Ends 87080000 199703 No 11.85
Pinion 84660000 199703 No 3.7
Crank Shafts 84831000 199703 No 1.48
0 0 0 17 0.28
0 0 0 10 0.23
0 0 0 3 0.13
0 0 0 4 0.04
0 0 0 1 0.03
0 0 0 12 0.03
0 0 0 25 0.71
0 0 0 9 0.14
0 0 0 36 0.67
0 0 0 8 0.24
0 0 0 30 0.21
0 0 0 21 0.16
0 0 0 12 0.05
0 0 0 1 0.02
164705.88
230000
433333.33
100000
300000
25000
284000
155555.56
186111.11
300000
70000
76190.48
41666.67
200000
RATIOS - VALUATION RATIOS - Stotz Blacksmith
199703 199803 199903

Price Earning (P/E) 500 0 0
Price to Book Value ( P/BV) 0.99 0 0
Price/Cash EPS (P/CEPS) 319.5 0 0
EV/EBIDTA 237 0 0
Market Cap/Sales 9.47 0 0
RATIOS - KEY FINANCIAL RATIOS - Stotz Blacksmith
199703 199803 199903

Key Ratios
Debt-Equity Ratio 0 0 0
Long Term Debt-Equity Ratio 0 0 0
Current Ratio 5.86 6.58 6.61
Turnover Ratios
Fixed Assets 5.4 3.4 2.85
Inventory 3.46 3.15 7.79
Debtors 0.38 0.22 0.17
Interest Cover Ratio 5 0 0
PBIDTM (%) 4.44 2.35 4.05
PBITM (%) 3.7 1.18 1.35
PBDTM (%) 3.7 2.35 4.05
CPM (%) 2.96 2.35 4.05
APATM (%) 2.22 1.18 1.35
ROCE (%) 0.39 0.06 0.06
RONW (%) 0.23 0.06 0.06
FINANCE -CASH FLOW - Stotz Blacksmith (Curr: Rs in Cr.)
199803 199903
Cash Flow Summary
Net Cash Used in Investing Activities -2.22 0.07
Net Cash Used in Financing Activities 5.24 0
Net Inc/(Dec) in Cash and Cash Equivalent 2.99 0.01
FINANCE -FUNDS FLOW - Actual - Stotz Blacksmith (Curr: Rs in Cr.)
199703 199803 199903

Sources of funds
Cash profit 0.09 0.02 0.02

Increase in equity 12.78 5.24 0
Increase in other networth 0.08 0 0
Increase in loan funds 0 0 0
Decrease in gross block 0 0 0.08
Decrease in investments 0 0 0
Decrease in working capital 0 0 0
Others 0 0 0
Total Inflow 12.95 5.26 0.1
Cash loss 0 0 0
Decrease in networth 0 0 0.01
Decrease in loan funds 0 0 0
Increase in gross block 5.91 2.21 0
Increase in investments 0 0 0
Increase in working capital 7.04 3.05 0.09
Dividend 0 0 0
Others 0 0 0
Total Outflow 12.95 5.26 0.1
PRODUCTS - RAW MATERIALS - Sterling Strips (Curr: Rs in Cr.)

Steel 72000000 200803 MT 0
Fancy Fabrics 56050000 200803 Mtr 0
Adjustments 37044 200803 NA 0
Boiler Accessories & Stores 84041000 200803 NA 0
Steel 72000000 200703 MT 0
Steel 72000000 200603 MT 0
Steel 72000000 200503 MT 0
Steel 72000000 200403 MT 0
Steel 72000000 199703 MT 1676
Steel 72000000 199603 MT 1118.439
Stores/Spares 7044 199503 NA 0
Burners 84040000 199503 No 19
Steel incl.Mfg/Resale Activity 72000000 199503 MT 1168.16
Burners 84040000 199403 No 7
Others incl.Stores/Spares 11044 199403 NA 0
Others incl.Stores/Spares 11044 199303 NA 0
Burners 84040000 199303 No 4
4.91 0
0 0
0.5 0
0 0
0 0
0 0
0 0
0 0
-0.01 0
0.39 0
0 0
1.3 0
0.61 0
0 0
0 0
0 0
0 0
0 0
0.15 0
1.11 0
0.02 0
0 0
0.42 0
0 0
0 0
0.91 0
3.17 18914.08
0.66 28.77
0.82 0
0.76 0
0.81 0
2.27 20296.14
1.4 0
-0.16 0
0.14 73684.21
4.37 37409.26
0.28 400000
2.42 28524.28
2.26 0
1.74 0
0.02 50000
1.36 22325.09
PRODUCTS - FINISHED PRODUCTS - Sterling Strips (Curr: Rs in Cr.)

Others 11044 200803 NA 57.63
Job Work 10044 200803 NA 19.17
M S Pipe 82034000 200803 MT 16.99
Accessories & Spares 7044 200803 NA 6.21
LPG Bullets 22044 200803 No 0
Pressure Vessels 84198901 200803 No 0
Steel 72000000 200803 MT 0
Industrial Boilers 84020000 200803 No 0
Assigned Work Done 10044 200803 NA 0
Boiler Accessories 84041000 200803 No 0
Absorption Refrigeration Syst. 84182200 200803 No 0
Job Work 10044 200703 NA 72.22
Industrial Boilers 84020000 200703 No 27.78
Others 11044 200703 NA 0
Steel 72000000 200703 MT 0
Accessories & Spares 7044 200703 NA 0
Steel 72000000 200603 MT 0
Others 11044 200603 NA 0
Job Work 10044 200603 NA 0
Job Work 10044 200503 NA 1.28
Others 11044 200503 NA 0
Steel 72000000 200503 MT 0
Job Work 10044 200403 NA 19.44
Others 11044 200403 NA 0
Steel 72000000 200403 MT 0
Steel 72000000 199703 MT 15.47
Fancy Fabrics 56050000 199703 Mtr 8.09
Assigned Work Done 10044 199703 NA 6.86
Others 11044 199703 NA 0.31
Boiler Accessories 84041000 199603 No 12.37
Steel 72000000 199603 MT 7.85
Steel 72000000 199503 MT 21.4
Stores/Spares/Components 7044 199503 NA 9.61
Scraps (Lots Worth) 72040000 199503 Lot 0.23
Others incl.Stores/Spares/Comp 11044 199403 NA 21.32
Steel 72000000 199403 MT 19.12
Pressure Vessels 84198901 199403 No 5.58
Others incl.Stores/Spares/Comp 11044 199303 NA 18.3
Steel 72000000 199303 MT 4.9
Pressure Vessels 84198901 199303 No 4.64
0 0 0 0 5.29
0 0 0 0 1.76
0 0 327.618 327.618 1.56
0 0 0 0 0.57
0 0 0 0 0
0 48 0 0 0
0 12 0 0 0
0 0 0 0 0
0 75 0 0 0
0 0 0 0 0
0 0 0 0 0
0 15 0 0 0
0 0 0 0 1.3
1.33 75 1 1 0.5
0 48 0 0 0
0 0 0 0 0
0 15 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 12 0 0 0
2.67 75 2 2 1.66
0 0 0 0 0.87
0 0 0 0 0
0 0 0 0 0
0 15 0 0 0
0 0 0 0 0
0 48 0 0 0
0 0 0 0 0
0 0 0 0 0
0 12 0 0 0
0 0 0 0 0
6.67 75 5 5 1.32
0 0 0 0 1
0 0 0 0 0.03
0 0 0 0 0
0 0 0 0 0
0 12 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 48 0 0 0
0 15 0 0 0
2.67 75 2 2 0.57
0 0 0 0 0.14
0 0 0 0 0.01
0 12 0 0 0
0 48 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 15 0 0 0
0 0 0 0 0
22.67 75 17 17 6.61
0 0 0 684 1.51
0 0 0 229415 0.79
0 0 0 0 0.67
0 0 0 0 0.15
0 0 0 0 0.03
0 0 0 0 0
0 0 0 0 0
0 48 0 0 0
0 12 0 0 0
28 75 21 21 4.28
0 0 0 0 1.72
0 0 0 0 0.93
0 0 2428.796 155.283 0.59
0 48 0 0 0
0 15 0 0 0
0 12 0 0 0
44 75 33 33 4.65
0 0 0 435.88 1.87
0 0 0 0 0.84
0 0 0 5 0.72
0 0 0 0 0.64
0 0 0 5 0.02
0 12 0 0 0
0 48 0 0 0
0 15 0 0 0
38.33 60 23 22 3.18
0 0 0 0 1.26
0 0 0 349.16 1.13
16.67 12 2 2 0.33
0 0 0 5 0.01
0 6 0 0 0
0 48 0 0 0
0 0 0 0 0
64.58 48 31 31 2.77
0 0 0 0 0.71
0 0 0 58.31 0.19
41.67 12 5 5 0.18
0 0 0 4 0.02
0 0 0 3 0.01
0 0 0 0 0
0 48 0 0 0
0
0
47616.43
0
0
0
0
0
0
0
0
0
0
5000000
0
0
0
0
0
0
0
0
0
8300000
0
0
0
0
0
0
0
0
0
0
2640000
0
0
0
0
0
0
0
0
0
0
2850000
0
0
0
0
0
0
0
0
0
0
3888235.29
22076.02
34.44
0
0
0
0
0
0
0
2038095.24
0
0
37995.14
0
0
0
1409090.91
42901.72
0
1440000
0
40000
0
0
0
1445454.55
0
32363.39
1650000
20000
0
0
0
893548.39
0
32584.46
360000
50000
33333.33
0
0
RATIOS - VALUATION RATIOS - Sterling Strips
199303 199403 199503 199603 199703 200403 200503 200603 200703

Price Earning (P/E) 0 0 9.21 7.34 3.09 0 0 0 0
Price to Book Value ( P/BV) 0 0 1.38 0.58 0.17 0 0 0 0
Price/Cash EPS (P/CEPS) 0 0 8.3 5.42 1.97 0 0 0 0
EV/EBIDTA 0 0 8.63 5.93 3.95 0 0 0 0
Market Cap/Sales 0 0 0.78 0.42 0.1 0 0 0 0
200803
0
0
0
0
0
RATIOS - KEY FINANCIAL RATIOS - Sterling Strips
199303 199403 199503 199603 199703 200403 200503 200603 200703

Key Ratios
Debt-Equity Ratio 1.72 1.97 0.98 0.85 0.92 0 0 0 0
Long Term Debt-Equity Ratio 1.36 1.81 0.62 0.32 0.36 0 0 0 0
Current Ratio 1.44 1.39 1.57 1.72 1.76 0.61 0.67 0.74 0.78
Turnover Ratios
Fixed Assets 3.46 5.01 4.03 2.24 2.58 0.16 0.52 0.56 0.4
Inventory 3.88 5.91 7.7 2.55 2.15 3.43 4.75 2.25 1.21
Debtors 3.88 3.25 2.22 1.62 2.2 0.25 0.8 0.84 0.54
Interest Cover Ratio 3.88 2.57 2.8 1.57 1.42 0 9 0 0
PBIDTM (%) 9.28 9.98 14.07 17.82 15.06 -9.72 13.19 11.86 17.78
PBITM (%) 7.99 9.14 13.16 15.82 13.22 -37.5 3.83 3.95 6.67
PBDTM (%) 7.22 6.43 9.38 7.71 5.74 -9.72 12.77 11.86 17.78
CPM (%) 7.22 5.92 9.38 7.71 5.12 -9.72 12.77 11.46 17.78
APATM (%) 5.93 5.08 8.47 5.72 3.28 -37.5 3.4 3.56 6.67
ROCE (%) 14.62 20.89 20.44 12.87 12.45 0 1.21 0.91 1.09
RONW (%) 29.49 32.79 24.67 8.32 5.76 0 8.56 1.95 2.6
200803
0
0
0.89
2.15
9.18
2.82
72
9.8
7.84
9.69
9.26
7.3
6.7
13.49
FINANCE -CASH FLOW - Sterling Strips (Curr: Rs in Cr.)
199503 199603 200403 200503 200603 200703

Cash Flow Summary
Net Cash from Operating Activities -1.83 -0.79 0.07 0.09 0.1 0.12
Net Cash Used in Investing Activities -1.5 -0.49 0 -0.01 -0.02 -0.19
Net Cash Used in Financing Activities 1.61 1.65 -0.04 -0.06 -0.12 0.07
Net Inc/(Dec) in Cash and Cash Equivalent -1.72 0.37 0.03 0.02 -0.04 0
200803
0.02
1.48
0.03
-1.44
0.07
0.09
FINANCE -FUNDS FLOW - Actual - Sterling Strips (Curr: Rs in Cr.)
199303 199403 199503 199603 199703 200403 200503 200603 200703

Sources of funds
Cash profit 0.37 0.35 0.83 0.71 0.64 2.24 0.29 0.29 0.29
Increase in equity 0.34 0.01 3.54 0.04 0 4.08 0 0 0
Increase in other networth 0.25 0 0.05 0 0.01 0 0 0 0
Increase in loan funds 1.34 0.92 1.34 1.6 0 6.51 0 0 0.07
Decrease in gross block 0 0 0 0 0 0 0 0 0
Decrease in investments 0 0 0 0 0 0 0 0 0
Decrease in working capital 0 0 0 0 0 0 0 0 0
Others 0 0 0 0.05 0.04 0 0 0 0
Total Inflow 2.3 1.28 5.76 2.4 0.69 12.83 0.29 0.29 0.36
Cash loss 0 0 0 0 0 0 0 0 0
Decrease in networth 0 0 0 0.03 0 6.55 0 0 0
Decrease in loan funds 0 0 0 0 0.22 0 0.05 0.12 0
Increase in gross block 1.12 0.41 1.57 0.52 0.34 4.47 0.02 0.03 0.16
Increase in investments 0 0 0 0 0 0 0 0 0
Increase in working capital 1.14 0.57 3.67 1.85 0.13 1.81 0.22 0.14 0.2
Dividend 0.04 0.04 0.43 0 0 0 0 0 0
Others 0 0.26 0.09 0 0 0 0 0 0
Total Outflow 2.3 1.28 5.76 2.4 0.69 12.83 0.29 0.29 0.36
200803
1.06
0
0.71
0
0
0
0
0
1.77
0
0
1.26
0.38
0
0.13
0
0
1.77
FINANCE -PROFIT AND LOSS - Sterling Strips (Curr: Rs in Cr.)
199303 (12) 199403 (12) 199503 (12) 199603 (12)

INCOME :
Sales Turnover 3.88 5.91 9.15 7.52
Excise Duty 0.21 0.22 0.49 0.44
Net Sales 3.67 5.69 8.66 7.08
Other Income 0.01 0.01 0.12 0.13
Stock Adjustments -0.28 -0.01 0 0.76
Total Income 3.4 5.69 8.78 7.97
EXPENDITURE :
Raw Materials 2.24 4.05 5.75 3.84
Power & Fuel Cost 0.03 0.04 0.05 0.05
Employee Cost 0.15 0.19 0.45 0.58
Miscellaneous Expenses 0.04 0 0.07 0.05

Interest 0.21 0.21 0.41 0.76
Gross Profit 0.28 0.38 0.82 0.58
Depreciation 0.05 0.05 0.08 0.15
Tax 0 0.03 0 0
Adjst. below Net Profit 0 0 0 -0.03

Dividend 0.04 0.04 0.43 0


Book Value-Unit Curr 22.94 30 12.72 13.72
200403 (12) 200503 (12) 200603 (12) 200703 (12) 200803 (12)
0.72 2.35 2.53 1.8 9.18

0.01 0.23 0.23 0.1 0.98
0.71 2.12 2.3 1.7 8.2
0 0.02 0 0 0.24
0.02 0.16 0.61 -0.02 -0.49
0.73 2.3 2.91 1.68 7.95
0.44 1.26 1.91 0.38 5.41

0.03 0.04 0.04 0.05 0.08
0.11 0.15 0.3 0.28 0.46
0.06 0.2 0.08 0.23 0.49
0.11 0.33 0.28 0.32 0.37
0.05 0.01 0 0.1 0.03
0 0 0 0 0
0.8 1.99 2.61 1.36 6.84
-0.07 0.31 0.3 0.32 1.11

0 0.01 0 0 0.01
-0.07 0.3 0.3 0.32 1.1
0.2 0.22 0.2 0.2 0.18
-0.27 0.08 0.1 0.12 0.92
0 0 0.01 0 0.04
0 0 0 0 0
0 0 0 0 0
-0.27 0.08 0.09 0.12 0.88
0 0 0 0 0.21
-0.27 0.08 0.09 0.12 0.67
0 0 0 0 0
-7.08 -7.35 -7.27 -7.18 -7.06
0 0 0 0 0
0 0 0 0 0
-7.35 -7.27 -7.18 -7.06 -6.18
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0.2 0.22 0.29 2.16

-6.72 -6.52 -6.3 -6 -2.11
FINANCE -BALANCE SHEET - Sterling Strips (Curr: Rs in Cr.)
199303 199403 199503 199603 200403 200503 200603

SOURCES OF FUNDS :
Share Capital 0.34 0.35 3.89 3.93 4.08 4.08 4.08
Reserves Total 0.44 0.7 1.06 1.46 -6.82 -6.74 -6.65
Total Shareholders Funds 0.78 1.05 4.95 5.39 -2.74 -2.66 -2.57
Secured Loans 0.9 0.5 2.53 3.38 4.05 3.89 3.79
Unsecured Loans 0.44 1.76 1.06 1.82 2.46 2.57 2.55
Total Debt 1.34 2.26 3.59 5.2 6.51 6.46 6.34
Gross Block 1.12 1.24 3.1 3.62 4.47 4.49 4.52
Net Block 0.98 1.05 2.82 3.19 2.4 2.2 2.03
Lease Adjustment 0 0 0 -0.13 -0.44 -0.43 -0.43
Capital Work in Progress 0 0.29 0 0 0 0 0
Investments 0 0 0 0 0 0 0
Inventories 1 1 1.27 4.62 0.21 0.78 1.47
Sundry Debtors 1 2.64 5.25 4.04 2.86 2.98 3.02
Cash and Bank 0.1 1.89 0.17 0.54 0.03 0.06 0.02
Provisions 0.1 0.17 0.73 0.49 0.94 0.93 0.43
Total Current Liabilities 1.69 4.53 2 2.4 1.74 2.67 2.89
Miscellaneous Expenses not written off 0 0.26 0.35 0.3 0 0 0
Total Assets 2.12 3.31 8.54 10.59 3.77 3.8 3.77
Contingent Liabilities 0.71 1.06 1.33 2.14 0 0 0.28

200703 200803
4.08 4.08
-6.53 -4.94
-2.45 -0.86
3.77 2.5
2.64 2.65
6.41 5.15
3.96 4.29
4.51 4.02
2.66 2.46
0 0
1.85 1.56
-0.43 0
0.17 0.23
0 0
1.5 0.5
3.64 2.86
0.02 0.09
0.45 2.33
5.61 5.78
3.14 3.17
0.1 0.11
3.24 3.28
2.37 2.5
0 0
0 0
0 0
0 0
3.96 4.29
1.14 0.99
PRODUCTS - RAW MATERIALS - Sterling Gen (Curr: Rs in Cr.)
Others 11044 200703 NA 0 25.79
Motive Assemblies 11044 200703 No 129 74.63
Others 11044 200603 NA 0 0
Motive Assemblies 11044 200603 No 0 0
0
5785271.32
0
0
PRODUCTS - FINISHED PRODUCTS - Sterling Gen (Curr: Rs in Cr.)

DG Set 30049044 200703 No 88.13
Others 11044 200703 NA 7.57
Panels 68022300 200703 No 4.3
Power Distribution&Control Eq. 90303918 200703 No 0
Power Distribution&Control Eq. 90303918 200603 No 0
Panels 68022300 200603 No 0
DG Set 30049044 200603 No 0
Others 11044 200603 NA 0
10 1000 100 100 85.77
0 0 0 0 7.37
0 0 9 9 4.18
0 1000 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
8577000
0
4644444.44
0
0
0
0
0
RATIOS - VALUATION RATIOS - Sterling Gen
200603 200703
Price Earning (P/E) 0 0
Price to Book Value ( P/BV) 0 0
Price/Cash EPS (P/CEPS) 0 0
EV/EBIDTA 0 0
Market Cap/Sales 0 0
RATIOS - KEY FINANCIAL RATIOS - Sterling Gen
200603 200703
Key Ratios
Debt-Equity Ratio 2.47 0
Long Term Debt-Equity Ratio 1.32 0
Current Ratio 0.55 1.14
Turnover Ratios
Fixed Assets 0 10.05
Inventory 0 4.54
Debtors 0 5.93
Interest Cover Ratio -12.67 0.46
PBIDTM (%) 0 2.79
PBITM (%) 0 1.93
PBDTM (%) 0 -1.45
CPM (%) 0 -1.51
APATM (%) 0 -2.37
ROCE (%) 0 0
RONW (%) 0 0
FINANCE -CASH FLOW - Sterling Gen (Curr: Rs in Cr.)
200603 200703
Cash Flow Summary
Net Cash from Operating Activities 3.24 -46.99
Net Cash Used in Investing Activities -3.74 -14.84
Net Inc/(Dec) in Cash and Cash Equivalent 1.87 -0.4
FINANCE -FUNDS FLOW - Actual - Sterling Gen (Curr: Rs in Cr.)
200603 200703
Sources of funds
Cash profit 0 0
Increase in equity 1 0
Increase in other networth 0 0
Increase in loan funds 1.41 65.45
Decrease in gross block 0 0
Decrease in investments 0 0
Decrease in working capital 1.75 0
Others 0 0
Total Inflow 4.16 65.45
Cash loss 0.4 1.47

Decrease in networth 0 0
Decrease in loan funds 0 0
Increase in gross block 3.76 14.92
Increase in investments 0 0
Increase in working capital 0 49.06
Dividend 0 0
Others 0 0
Total Outflow 4.16 65.45
FINANCE -PROFIT AND LOSS - Sterling Gen (Curr: Rs in Cr.)
200603 (12) 200703 (12)

INCOME :
Sales Turnover 0 97.32
Excise Duty 0 0
Net Sales 0 97.32
Other Income 0 2.03
Stock Adjustments 0 11.23
Total Income 0 110.58
EXPENDITURE :
Raw Materials 0 100.42
Power & Fuel Cost 0 0
Employee Cost 0 0
Other Manufacturing Expenses 0 0
Selling and Administration Expenses 0 0.04
Miscellaneous Expenses 0.35 7.4
Less: Pre-operative Expenses Capitalised 0 0
Total Expenditure 0.35 107.86
Operating Profit -0.35 2.72

Interest 0.03 4.13
Gross Profit -0.38 -1.41
Depreciation 0.03 0.84
Profit Before Tax -0.41 -2.25
Tax 0 0
Fringe Benefit tax 0.01 0.08
Deferred Tax 0.01 -0.02
Reported Net Profit -0.43 -2.31
Extraordinary Items 0 0
Adjusted Net Profit -0.43 -2.31
Adjst. below Net Profit 0 0

P & L Balance brought forward 0 -0.43
Statutory Appropriations 0 0
Appropriations 0 0
P & L Balance carried down -0.43 -2.74
Dividend 0 0
Preference Dividend 0 0
Equity Dividend % 0 0
Earnings Per Share-Unit Curr 0 0

Book Value-Unit Curr 5.7 -17.4
FINANCE -BALANCE SHEET - Sterling Gen (Curr: Rs in Cr.)
200603 200703
SOURCES OF FUNDS :
Share Capital 1 1
Reserves Total -0.43 -2.74
Total Shareholders Funds 0.57 -1.74
Secured Loans 0.05 24.63
Unsecured Loans 1.36 42.23
Total Debt 1.41 66.86
Total Liabilities 1.98 65.12
Gross Block 1.1 18.27
Less : Accumulated Depreciation 0.03 0.87
Less:Impairment of Assets 0 0
Net Block 1.07 17.4
Lease Adjustment 0 0
Capital Work in Progress 2.66 0.41
Investments 0 0
Inventories 0.05 42.83
Sundry Debtors 0 32.82
Cash and Bank 1.88 1.48
Loans and Advances 1 5.85
Total Current Assets 2.93 82.98
Current Liabilities 4.66 35.6
Provisions 0.01 0.08
Total Current Liabilities 4.67 35.68
Net Current Assets -1.74 47.3
Miscellaneous Expenses not written off 0 0
Deferred Tax Assets 0 0.45
Deferred Tax Liability 0.01 0.44
Net Deferred Tax -0.01 0.01
Total Assets 1.98 65.12
Contingent Liabilities 4.27 1.33

PRODUCTS - RAW MATERIALS - Stanford Engg. (Curr: Rs in Cr.)

Hydraulic Excavators-Purchased 84290000 199703 No 26
Spares 7044 199703 NA 0
Hydraulic Excavators-Purchased 84290000 199603 No 46
Spares 7044 199603 NA 0
Raw Mtls. consumed 11044 199503 NA 0
Others incl.Spare Parts 11044 199403 NA 0
Raw Mtls.consumed 11044 199303 NA 0
Raw Matls.consumed 99999999 199106 NA 0
Raw Materials & Components 99999999 199003 NA 0
8.7 3346153.85
3.58 0
3.55 0
13.044 2835652.17
4.49 0
10.72 0
-1.07 0
3.43 0
6.91 0
12.35 0
9.34 0
7.5 0
PRODUCTS - FINISHED PRODUCTS - Stanford Engg. (Curr: Rs in Cr.)

Hydraulic Excavators-Traded 84290000 199703 No 52.39
Spare Parts 7044 199703 No 21.91
Cranes 84260000 199703 No 15.52
Hydraulic Excavator 84290000 199703 No 4.4
Services Income 10044 199703 NA 3.8
Adjustment 37044 199703 NA 1.99
Dumpers 87041000 199703 No 0
Other Components 7044 199703 NA 0
Misc.Income 9044 199703 NA 0
Hydraulic Excavators-Traded 84290000 199603 No 47.38
Spare Parts 7044 199603 No 16.4
Cranes 84260000 199603 No 15.87
Other Components 7044 199603 NA 2.86
Misc.Income 9044 199603 NA 0.2
Dumpers 87041000 199603 No 0
Spare Parts 7044 199503 No 24.67
Cranes incl.Mobile Tower 84260000 199503 No 15.72
Income -not specified 9044 199503 NA 2.07
Dumpers 87041000 199503 No 0
Spare Parts Components 7044 199403 No 35.41
Dumpers 87041000 199403 No 0
Spare Parts Components 7044 199303 No 34.68
Dumpers 87041000 199303 No 0.19
Hydraulic Excavators 84295900 199003 No 79.42
Spare Parts & Components 99999999 199003 NA 13.47
All Types of Cranes 84262000 199003 No 5.35
Job Work 99999999 199003 NA 1.69
Earthmoving Machinery 84290000 199003 No 0
0 0 0 34 11.31
0 0 0 0 4.73
28 100 28 28 3.35
0 0 0 3 0.95
0 0 0 0 0.82
0 0 0 0 0.43
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 37 11.76
0 0 0 0 4.07
29 100 29 29 3.94
0 0 0 10 3.22
0 0 0 0 1.07
0 0 0 0 0.71
0 0 0 0 0.05
10 100 10 0 0
0 0 0 30 9.53
0 0 0 0 4.3
18 100 18 20 2.74
0 0 0 0 0.5
0 0 0 0 0.36
21 100 21 0 0
0 0 0 24 7.78
0 0 0 0 5
0 0 0 10 1.34
24 100 24 0 0
0 0 0 38 12.43
0 0 0 0 7.36
0 0 0 12 1.39
0 0 0 1 0.04
0 0 0 52.33 11.73
0 0 0 0 1.99
10 100 10 8 0.79
0 0 0 0 0.25
47.66 100 47.66 0 0
3326470.59
0
1196428.57
3166666.67
0
0
0
0
0
3178378.38
0
1358620.69
3220000
0
0
0
0
3176666.67
0
1370000
0
0
0
3241666.67
0
1340000
0
3271052.63
0
1158333.33
400000
2241544.05
0
987500
0
0
RATIOS - VALUATION RATIOS - Stanford Engg.
199106 199212 199403 199503 199603 199703

Price Earning (P/E) 80.77 0 0 0 0 0
Price to Book Value ( P/BV) 2.34 22.73 -0.48 -0.6 -0.16 0
Price/Cash EPS (P/CEPS) 14.62 -10.28 -0.33 -1.31 -0.94 0
EV/EBIDTA 6.22 4.81 0 0 67.78 0
Market Cap/Sales 0.13 0.11 0.1 0.2 0.05 0
RATIOS - KEY FINANCIAL RATIOS - Stanford Engg.
199106 199212 199403 199503 199603 199703

Key Ratios
Debt-Equity Ratio 10.12 114.6 0 0 0 0
Long Term Debt-Equity Ratio 5.98 59.9 0 0 0 0
Current Ratio 1.31 1.23 1.15 1.07 1.08 1.19
Turnover Ratios
Fixed Assets 2.64 4.1 2.59 3.11 4.22 3.54
Inventory 1.89 2.1 1.73 2.43 3.25 3.15
Debtors 4.63 12.86 9.23 10.47 13.49 14.69
Interest Cover Ratio 1.02 0.74 -0.67 -0.35 -0.07 -0.82
PBIDTM (%) 10.58 11.83 -10.27 -2.52 0.93 -5.23
PBITM (%) 9.91 9.57 -13.17 -4.42 -0.4 -6.72
PBDTM (%) 0.87 -1.04 -29.82 -15.03 -5.16 -13.43
CPM (%) 0.87 -1.04 -29.82 -15.03 -5.16 -13.43
APATM (%) 0.2 -3.3 -32.72 -16.92 -6.49 -14.91
ROCE (%) 11.69 0 0 0 0 0
RONW (%) 1.22 0 0 0 0 0
FINANCE -CASH FLOW - Stanford Engg. (Curr: Rs in Cr.)
199603 199703
Cash Flow Summary
Net Cash Used in Investing Activities -0.04 0
Net Cash Used in Financing Activities 0.02 -0.05
Net Inc/(Dec) in Cash and Cash Equivalent -1.75 -0.73
FINANCE -FUNDS FLOW - Actual - Stanford Engg. (Curr: Rs in Cr.)
199106 199212 199403 199503 199603 199703

Sources of funds
Cash profit 1.3 0.11 0 0 0 0

Increase in equity 1.81 0 3.44 0 0 0
Increase in other networth 0 0 0 0.1 0 0.14
Decrease in gross block 0 0 0 0 0 0.02
Decrease in working capital 0 0 0 2.57 0 0.95
Others 0 0 0 0.03 0.01 0.02
Total Inflow 11.31 3.37 15.05 2.72 3.64 2.91
Cash loss 0 0 1.89 2.42 1.08 2.71

Decrease in networth 1.03 0.01 1.71 0 0 0
Increase in gross block 4.53 0.32 5.46 0.09 0.05 0
Increase in investments 0 0 0 0 0 0
Increase in working capital 5.72 2.53 5.81 0 2.31 0
Dividend 0 0 0 0 0 0
Others 0.03 0.51 0.18 0.21 0.2 0.2
Total Outflow 11.31 3.37 15.05 2.72 3.64 2.91
FINANCE -PROFIT AND LOSS - Stanford Engg. (Curr: Rs in Cr.)
199106 (12) 199212 (18) 199403 (15) 199503 (12)

INCOME :
Sales Turnover 14.94 21.22 14.12 17.43
Excise Duty 1.51 2.06 0.86 1.07
Net Sales 13.43 19.16 13.26 16.36
Other Income 0.12 0.23 0.12 0.05
Stock Adjustments 1 1.13 -0.76 -1.15
Total Income 14.55 20.52 12.62 15.26
EXPENDITURE :
Raw Materials 8.69 13.01 9.27 10.72
Power & Fuel Cost 0.1 0.15 0.14 0.13
Employee Cost 1.55 1.98 1.88 1.7
Operating Profit 1.58 2.51 -1.45 -0.44

Interest 1.45 2.73 2.76 2.18
Gross Profit 0.13 -0.22 -4.21 -2.62
Depreciation 0.1 0.48 0.41 0.33
Profit Before Tax 0.03 -0.7 -4.62 -2.95
Tax 0 0 0 0
Reported Net Profit 0.03 -0.7 -4.62 -2.95
Adjusted Net Profit 0.03 -0.7 -4.62 -2.95
Adjst. below Net Profit 0 0 0 0.1

Dividend 0 0 0 0
Earnings Per Share-Unit Curr 0.17 0 0 0

Book Value-Unit Curr 4.48 0.55 -8.4 -16.69
199603 (12) 199703 (12)
24.82 21.59
0.87 0.52
23.95 21.07
0.08 0.44
-0.71 -0.84
23.32 20.67
17.53 15.83
0.16 0.15
2.07 2.35
0.95 0.54
1.82 1.97
0.56 0.96
0 0
23.09 21.8
0.23 -1.13
1.51 1.77
-1.28 -2.9
0.33 0.32
-1.61 -3.22
0 0
0 0
0 0
-1.61 -3.22
0 0
-1.61 -3.22
0 0.15
-9.33 -10.95
0 0
0 0
-10.94 -14.02
0 0
0 0
0 0
0 0
-21.37 -30.32
FINANCE -BALANCE SHEET - Stanford Engg. (Curr: Rs in Cr.)
199106 199212 199403 199503 199603 199703

SOURCES OF FUNDS :
Share Capital 1.81 1.81 3.44 3.44 3.44 3.44
Reserves Total 2.91 1.87 -3 -6.06 -7.87 -11.15
Total Shareholders Funds 4.72 3.68 0.44 -2.62 -4.43 -7.71
Secured Loans 8.1 11.26 11.54 11.6 12.57 14.4
Unsecured Loans 0.1 0.2 0.07 0.03 2.69 2.64
Total Debt 8.2 11.46 11.61 11.63 15.26 17.04
Gross Block 8.44 8.76 8.79 8.88 8.93 8.91
Net Block 7.17 6.68 6.06 5.62 5.14 4.61
Capital Work in Progress 0 0 0 0 0 0
Investments 0 0 0 0 0 0
Inventories 6.32 10.11 8.17 6.2 9.09 4.63
Sundry Debtors 2.58 1.65 1.53 1.8 1.88 1.06
Cash and Bank 0.28 1.64 0.2 2.63 0.87 0.21
Provisions 0.04 0.07 0.12 0 0 0
Net Current Assets 5.72 8.25 5.81 3.24 5.55 4.6
Miscellaneous Expenses not written off 0.03 0.21 0.18 0.15 0.14 0.12
Total Assets 12.92 15.14 12.05 9.01 10.83 9.33

PRODUCTS - RAW MATERIALS - Shilp Gravures (Curr: Rs in Cr.)

Others 11044 200903 NA 0
MS Rollers (1000 Sq mm) 84436001 200903 SqM 1045282
M S Plate 10085 200903 Kg 49011
M.S. Pipe Circles 11044 200903 Kg 0
Screen Purchase 11100 200903 NA 0
Scrap Cylinders 22044 200903 Kg 6652
Ink Proofing 32151100 200903 NA 0
Round Bars 72130000 200903 Kg 154097
Copper 74030000 200903 Kg 67880
M S Pipes 11044 200903 Kg 760507
Screen Purchase 11100 200803 NA 0
Others 11044 200803 NA 0
M S Plate 10085 200803 Kg 72416
M S Pipes 11044 200803 Kg 399054
Scrap Cylinders 22044 200803 Kg 57301
Ink Proofing 32151100 200803 NA 0
Round Bars 72130000 200803 Kg 0
Copper 74030000 200803 Kg 77300
Others 11044 200703 NA 0
Electroplating Materials 38249011 200703 Kg 46000
Others 11044 200603 NA 0
Others 11106 200503 NA 0
Others 11106 200403 NA 0
Others 11106 200303 NA 0
Others 11106 200203 NA 0
Others 11106 200103 NA 0
Graphic Materials 37010000 200103 No 56
Others 11106 200003 NA 0
Others 11106 199903 NA 0
MS Rollers (1000 Sq mm) 84436001 199903 SqM 1674391.65
Electroplating Materials 38249011 199803 Kg 8595.91
Others 11106 199803 NA 0
Others 11106 199703 NA 0
Others 11106 199603 NA 0
MS Rollers 84436001 199503 No 17
Nickel 75020000 199503 Kg 127.2
Copper 74030000 199503 Kg 260
Others 11106 199503 NA 0
2.76 0
0.98 9.38
0.43 0
0.2 40.81
0 0
0.21 0
0.02 30.07
-0.12 0
0.01 0
0.48 31.15
2.67 393.34
3.14 41.29
0.07 0
0.61 0
0.19 0
0.23 31.76
1.34 33.58
0.17 29.67
0.02 0
0.04 0
2.36 305.3
3.51 7.41
0 0
0.74 0
0.11 44.02
1.77 384.78
3.36 6.46
0.96 219.18
0.38 0
0.1 41.09
3.88 6.47
2.67 5.39
0.67 203.03
0.31 0
0.37 115.42
0.49 0
2.17 5.14
2.12 4.81
0.44 164.33
0.29 0
1.62 5.02
0.42 157.35
0.26 0
1.35 5
0.13 0
0.35 175.83
0.03 5357.14
1.02 5.03
0.3 251.42
0.1 13698.63
0.12 0
0.1 9009.01
0.12 0
0.77 4.6
0.2 173.33
0.6 0.01
0.157 182.65
0.083 8829.79
0.122 0
0.037 8043.48
0.083 0
0.132 184.4
0.614 6.36
0.094 182.53
0.029 9062.5
0.1 0
0.333 7.72
0.01 5882.35
0 0
0.01 384.62
0 0
0 0
PRODUCTS - FINISHED PRODUCTS - Shilp Gravures (Curr: Rs in Cr.)

Copper Rollers-Electr.Engraved 84436001 200903 SqM 78.31
Excise Duty 5044 200903 NA 7.49
Printing Plates 11044 200903 SqC 5.92
Service Tax 11044 200903 NA 3.56
Web Guiding/Monitoring & Cont 11044 200903 No 2.21
Trading 1044 200903 Kg 1.06
Engraved Cylindrical Screens 84425003 200903 No 1.06
Discount 30044 200903 NA 0.36
Ink Proffing machine 32150000 200903 No 0.02
Others 11044 200903 NA 0
Job Work 10044 200903 SqM 0
Excise Duty 5044 200803 NA 9.22
Service Tax 11044 200803 NA 3.31
Unspecified 11044 200803 NA 1.36
Trading 1044 200803 Kg 0.49
Others 11044 200803 NA 0.31
Ink Proffing machine 32150000 200803 No 0.08
Discount 30044 200803 NA 0.03
Engraved Cylindrical Screens 84425003 200803 No 0
Job Work 10044 200803 SqM 0
Job Work 10044 200703 SqM 29.09
Excise Duty 5044 200703 NA 12.71
Trading 1044 200703 Kg 0.4
Job Works 10044 200603 SqM 30.5
Excise Duty 5044 200603 NA 10.65
Trading 1044 200603 Kg 0.44
Job Work 10106 200503 SqM 30.89
Excise Duty 5044 200503 NA 10.99
Job Work 10106 200403 SqM 34.86
Excise Duty 5044 200403 NA 8.31
Job Work 10106 200303 SqM 36.25
Job Work 10106 200203 SqM 33.42
Job Work 10106 200103 SqM 33.33
Job Work 10106 200003 SqM 34.6
Job Work Sales (1000 Sq.MM.) 1106 199903 SqM 34.96
Copper Rollers-Electr.Engraved 84436001 199503 No 100
62.88 23315342 14661826 14613395 32.53
0 0 0 0 3.11
27.96 62593300 17498352 17498352 2.46
0 0 0 0 1.48
54.18 550 298 298 0.92
0 0 0 0 0.44
7.71 3500 270 270 0.44
0 0 0 0 0.15
0.74 135 1 1 0.01
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
63.35 22500000 14254776 14243549 33.16
0 0 0 0 3.59
0 0 0 0 1.29
0 0 0 0 0.53
0 0 0 0 0.19
0 0 0 0 0.12
1.48 135 2 2 0.03
0 0 0 0 0.01
1.71 3500 60 0 0
0 0 0 0 0
61.34 17500000 10734790 6602913 17.33
0 0 0 4152751 8.72
0 0 0 0 3.81
0 0 0 24990 0.12
53.79 17500000 9413238 5744212 16.07
0 0 0 3652055 8.39
0 0 0 0 2.93
0 0 0 24335 0.12
42.8 17500000 7489711 4524556 13.38
0 0 0 2963892 7.11
0 0 0 0 2.53
47.43 15500000 7351045 4161142 12.65
0 0 0 3187390 7.76
0 0 0 0 1.85
65.24 10500000 6850683 4003465 12.22
65.86 8000000 5268528 2845606 6.95
65.86 8000000 5268528 3281292 9.7
0 0 0 1988089 4.87
52.74 8000000 4219286 2554551 8
0 0 0 1667175 4
42.93 8000000 3434015 2045045 6.54
0 0 0 1394406 3.46
0.09 3120000000 2675080.39 1571399.08 5.08
0 0 0 1098042.6 2.73
62.33 3120000000 1944795950 1191754820 4.08
0 0 0 757351750 1.83
46.05 3120000000 1436812070 936583690 3.4
0 0 0 498166340 1.28
45.6 1560000 711335.03 347801.46 1.43
0 0 0 357927.7 0.59
0.47 3600 17 17 0.02
0 0 0 0 0
22.26
0
1.41
0
30872.48
0
16296.3
0
100000
0
0
0
23.28
0
0
0
0
0
150000
0
0
0
26.25
21
0
48.02
27.98
22.97
0
49.31
29.57
23.99
0
30.4
24.35
0
30.52
24.42
29.56
24.5
31.32
23.99
31.98
24.81
32.33
24.86
0.03
0.02
0.04
0.03
41.12
16.48
11764.71
0
RATIOS - VALUATION RATIOS - Shilp Gravures
199503 199603 199703 199803 199903 200003 200103 200203 200303

Price Earning (P/E) 47.22 0 4.72 2.6 2.14 3.81 3.15 3.12 2.72
Price to Book Value ( P/BV) 1.64 0.79 0.72 0.44 0.59 0.95 0.66 0.72 0.75
Price/Cash EPS (P/CEPS) 45.46 47.66 2.76 1.45 1.51 2.65 1.83 1.69 1.47
EV/EBIDTA 0 10.19 3.51 2.29 1.92 3.35 2.72 1.96 1.46
Market Cap/Sales 522.75 2.36 0.99 0.52 0.63 0.96 0.64 0.52 0.51
200403 200503 200603 200703 200803 200903
4.13 13.15 11.13 8.96 5.06 9.05
0.8 1.12 1.94 1.35 1.3 0.53
1.9 3.78 5.25 4.08 3 2.13
2.29 3.81 4.83 3.64 3.17 3.4
0.52 0.72 1.16 0.82 0.75 0.3
RATIOS - KEY FINANCIAL RATIOS - Shilp Gravures
199503 199603 199703 199803 199903 200003 200103 200203 200303

Key Ratios
Current Ratio 1.19 1.15 1.57 1.57 1.33 1.13 1.27 1.29 1.16
Turnover Ratios
Fixed Assets 0 0.22 0.44 0.52 0.66 0.62 0.56 0.64 0.75
Inventory 2 13.47 17.02 24.12 23.31 24.1 21.24 19.96 21.66
Debtors 2 8.42 4.75 2.9 2.97 3.34 3.34 3.58 4.3
Interest Cover Ratio 8.33 0.57 2.57 2.65 4.84 5.55 3.23 4.07 6.73
PBIDTM (%) 1300 44.06 57.05 53.98 55.7 48.2 47.75 44.47 46.01
PBITM (%) 1250 22.28 42.31 38.07 43.41 37.2 33.08 30.47 30.2
PBDTM (%) 1150 4.95 40.6 39.59 46.73 41.5 37.5 36.99 41.52
CPM (%) 1150 4.95 36.97 36.89 43.02 37.5 35.83 30.61 35.16
APATM (%) 1100 -16.83 22.22 20.98 30.73 26.5 21.17 16.61 19.35
ROCE (%) 3.97 0 18.33 19.93 29.07 25.18 21.38 24.23 32.35
RONW (%) 5.58 0 16.75 18.59 31.29 28.68 23.46 21.98 31.74
200403 200503 200603 200703 200803 200903
0.53 0.63 0.67 0.58 0.57 0.88

0.52 0.59 0.6 0.47 0.25 0.46
1.08 1.08 1.12 1.12 0.97 0.88
0.69 0.61 0.66 0.66 0.78 0.67

20.71 22.91 21.75 16.8 18.06 15.02
4.01 3.44 3.81 3.63 3.83 3.48
4.74 3.38 5.99 6.29 8.21 2.89
36.57 28.37 31.08 32.56 33.58 26.72
21.7 14.81 19.37 21.61 23.41 16.08
31.99 23.98 27.84 29.12 30.73 21.16
28.21 19.64 22.72 22.85 25.51 14.61
13.34 6.08 11.01 11.91 15.34 3.97
22.91 14.28 20.46 23.7 28.68 15.71
21.55 9.53 19.38 20.59 29.52 7.28
FINANCE -CASH FLOW - Shilp Gravures (Curr: Rs in Cr.)
199503 199603 199703 199803 199903 200003

Cash Flow Summary
Net Cash from Operating Activities 0.49 0.05 1.18 1.36 4.27 3.81
Net Cash Used in Investing Activities -8.94 -0.62 -1.65 -0.13 -2.77 -6.11
Net Cash Used in Financing Activities 26.14 -17.1 0.89 -1.6 -1.08 2.59
Net Inc/(Dec) in Cash and Cash Equivalent 17.69 -17.67 0.42 -0.37 0.42 0.29
200103 200203 200303 200403 200503 200603 200703 200803 200903
0.85 0.4 1.3 2.9 1.62 1.47 1.81 1.49 1.79

1.78 4.68 8.01 5.69 2.72 5.87 4.64 7.17 8.15
-2.05 -0.87 -4.85 -8.28 -2.81 -5.53 -1.64 -9.59 -16.02
-0.18 -2.91 -1.56 1.32 -0.06 0 -3.32 2.72 7.71
-0.45 0.9 1.6 -1.27 -0.15 0.34 -0.32 0.3 -0.16
0.4 1.3 2.9 1.63 1.47 1.81 1.49 1.79 1.63
FINANCE -FUNDS FLOW - Actual - Shilp Gravures (Curr: Rs in Cr.)
199503 199603 199703 199803 199903 200003 200103 200203 200303

Sources of funds
Cash profit 0.23 0.1 1.73 2.19 3.36 3.74 4.26 4.45 6.65
Increase in equity 4.64 0 0 0 0 0 0 0 0
Increase in other networth 0 0 0 0 0 0.03 0 0 0
Increase in loan funds 5 0 0.9 0 0 3.44 0.9 0 0
Decrease in gross block 0 0 0 0 0 0 0 0 0
Decrease in working capital 0 1.15 0 0 0.79 0 0 1.72 0
Others 0 0.02 0.04 0.03 0.03 0.03 0.04 0.02 0.04
Total Inflow 9.87 1.27 2.67 2.22 4.18 7.24 5.2 6.19 6.69
Cash loss 0 0 0 0 0 0 0 0 0
Decrease in networth 0 0 0.06 0.06 0.1 0 0.09 2.41 0.14
Decrease in loan funds 0 0.62 0 0.91 0.41 0 0 1.81 0.46
Increase in gross block 8.91 0.65 1.68 0.16 2.81 6.15 2 0.86 4.93
Increase in investments 0.04 0 0 0 0 0 0 0 0
Increase in working capital 0.66 0 0.31 0.47 0 0.11 2.13 0 0.05
Dividend 0 0 0.62 0.62 0.86 0.98 0.98 1.11 1.11
Others 0.26 0 0 0 0 0 0 0 0
Total Outflow 9.87 1.27 2.67 2.22 4.18 7.24 5.2 6.19 6.69
200403 200503 200603 200703 200803 200903
6.2 4.44 6.23 6.19 9.93 5.29

0 0 0 0 0 0
0 0 0 0 0 0
2.57 1.18 1.26 0 5.11 11.54
0 0 0 0 0 0
0 0 0 0 0 0
0.7 0 0 0 0 1.64
0.03 0 0 0 0 0
9.5 5.62 7.49 6.19 15.04 18.47
0 0 0 0 0 0
0.14 0.18 0.15 0.19 0.53 0.1
0 0 0 2.06 0 0
8.19 2.77 5.6 1.63 8.62 15.47
0.06 0 0 0.05 0.99 2.28
0 1.56 0.63 1.15 3.61 0
1.11 1.11 1.11 1.11 1.29 0.62
0 0 0 0 0 0
9.5 5.62 7.49 6.19 15.04 18.47
FINANCE -PROFIT AND LOSS - Shilp Gravures (Curr: Rs in Cr.)
199403 (12) 199503 (12) 199603 (12) 199803 (12)

INCOME :
Sales Turnover 0 0.02 2.02 5.91
Excise Duty 0 0 0 0
Net Sales 0 0.02 2.02 5.91
Other Income 0 0.31 0.03 0.06
Stock Adjustments 0 0 0.19 -0.07
Total Income 0 0.33 2.24 5.9
EXPENDITURE :
Raw Materials 0 0.02 0.56 0.96
Power & Fuel Cost 0 0 0.1 0.25
Employee Cost 0 0 0.17 0.33
Other Manufacturing Expenses 0 0 0.1 0.49
Selling and Administration Expenses 0 0.02 0.35 0.54
Miscellaneous Expenses 0 0.03 0.07 0.14
Total Expenditure 0 0.07 1.35 2.71
Operating Profit 0 0.26 0.89 3.19

Interest 0 0.03 0.79 0.85
Gross Profit 0 0.23 0.1 2.34
Depreciation 0 0.01 0.44 0.94
Profit Before Tax 0 0.22 -0.34 1.4
Tax 0 0 0 0.16
Reported Net Profit 0 0.22 -0.34 1.24
Adjusted Net Profit 0 0.22 -0.34 1.24

P & L Balance brought forward 0 0 0.22 0.24
Appropriations 0 0 0 0.68
P & L Balance carried down 0 0.22 -0.12 0.8
Dividend 0 0 0 0.62
Earnings Per Share-Unit Curr 0 0.36 0 1.92

Book Value-Unit Curr 10 10.36 9.8 11.3
199903 (12) 200003 (12) 200103 (12) 200203 (12) 200303 (12) 200403 (12) 200503 (12) 200603 (12)
7.81 10 12 14.57 19.17 22.26 23.02 27.51

0 0 0 0 0 1.85 2.53 2.94
7.81 10 12 14.57 19.17 20.41 20.49 24.57
0.16 0.18 0.07 0.1 0.12 0.2 0.32 0.14
0.14 -0.04 0.16 -0.01 0.3 0.08 -0.21 0.26
8.11 10.14 12.23 14.66 19.59 20.69 20.6 24.97
1.19 1.54 1.86 2.3 2.85 3.03 3.65 5.32

0.25 0.38 0.58 0.75 0.84 0.86 1.09 1.23
0.43 0.61 0.91 1.14 1.49 2.21 2.65 3.04
0.56 1.3 1.08 1.21 1.59 2.49 2.27 2.41
1.1 1.33 1.59 2.42 3.16 3.05 3.77 3.27
0.23 0.16 0.48 0.36 0.84 0.91 0.64 1.15
0 0 0 0 0 0 0 0
3.76 5.32 6.5 8.18 10.77 12.55 14.07 16.42
4.35 4.82 5.73 6.48 8.82 8.14 6.53 8.55

0.7 0.67 1.23 1.09 0.86 1.02 1.01 0.89
3.65 4.15 4.5 5.39 7.96 7.12 5.52 7.66
0.96 1.1 1.76 2.04 3.03 3.31 3.12 3.22
2.69 3.05 2.74 3.35 4.93 3.81 2.4 4.44
0.29 0.4 0.2 0.67 1.21 0.55 0.53 1.14
0 0 0 0 0 0 0 0.05
0 0 0 0.26 0.01 0.29 0.47 0.22
2.4 2.65 2.54 2.42 3.71 2.97 1.4 3.03
0 0 0 0 0 0 0 0
2.4 2.65 2.54 2.42 3.71 2.97 1.4 3.03
-0.01 0 0.01 -0.01 0 0 -0.04 0

0.8 0.74 1.29 1.76 2.06 3.52 4.24 4.24
0 0 0 0 0 0 0 0
2.45 2.1 2.08 2.11 2.25 2.25 1.36 1.76
0.74 1.29 1.76 2.06 3.52 4.24 4.24 5.51
0.86 0.98 0.98 1.11 1.11 1.11 1.11 1.11

0 0 0 0 0 0 0 0
14 16 16 18 18 18 18 18
3.76 4.11 3.97 3.93 5.8 4.6 2.05 4.68

13.64 16.41 18.8 17.01 21.01 23.8 23.98 26.86
200703 (12) 200803 (12) 200903 (12)
29.98 38.92 41.54

3.8 4.87 4.59
26.18 34.05 36.95
0.12 0.19 1.14
-0.23 0.13 0.55
26.07 34.37 38.64
5.98 8.54 10.78

0.78 1.19 1.53
3.49 4.91 5.96
1.71 2.51 3.12
2.68 3.26 4.47
2.63 0.89 2.11
0 0 0
17.27 21.3 27.97
8.8 13.07 10.67

1.03 1.11 2.31
7.77 11.96 8.36
3.28 3.96 4.42
4.49 8 3.94
1.45 2.65 0.84
0.04 0.05 0.06
0.07 -0.67 1.58
2.93 5.97 1.46
-0.64 -0.09 -0.19
3.57 6.06 1.65
0 0 0
5.51 6.64 9.6
0 0 0
1.8 3.01 0.82
6.64 9.6 10.24
1.11 1.29 0.62

0 0 0
18 21 10
4.46 9.35 2.21

29.51 36.26 37.46
FINANCE -BALANCE SHEET - Shilp Gravures (Curr: Rs in Cr.)
199403 199503 199603 199803 199903 200003 200103

SOURCES OF FUNDS :
Share Capital 1.51 6.15 6.15 6.15 6.15 6.15 6.15
Reserves Total 0 0.22 -0.12 0.8 2.24 3.94 5.41
Secured Loans 0 5 4.14 3.8 2.88 6.05 6.37
Unsecured Loans 0 0 0.24 0.57 1.08 1.35 1.93
Total Debt 0 5 4.38 4.37 3.96 7.4 8.3
Gross Block 0.08 9.06 9.71 11.55 11.95 20.51 22.45
Less : Accumulated Depreciation 0 0.01 0.45 2.09 3.05 4.14 5.86
Net Block 0.08 9.05 9.26 9.46 8.9 16.37 16.59
Capital Work in Progress 0.07 0 0 0 2.41 0 0.06
Investments 0 0.04 0.04 0.04 0.04 0.04 0.04
Inventories 0 0.02 0.28 0.22 0.45 0.38 0.75
Sundry Debtors 0 0.02 0.46 2.56 2.7 3.28 3.9
Cash and Bank 0.06 17.75 0.08 0.14 0.56 0.85 0.39
Provisions 0 0 0 1 1.39 2.16 2.29
Net Current Assets 1.34 2 0.85 1.63 0.84 0.95 3.08
Total Assets 1.51 11.37 10.41 11.32 12.35 17.49 19.86
Contingent Liabilities 0 0 0 0 0 0 0.08

200203 200303 200403 200503 200603 200703 200803 200903
6.15 6.15 6.15 6.15 6.15 6.15 6.15 6.15

4.31 6.77 8.49 8.6 10.37 12 16.15 16.89
10.46 12.92 14.64 14.75 16.52 18.15 22.3 23.04
4.47 3.03 4.61 5.6 7.2 5.22 10.46 16.65
2.02 3 3.99 4.18 3.84 3.76 3.63 8.98
6.49 6.03 8.6 9.78 11.04 8.98 14.09 25.63
16.95 18.95 23.24 24.53 27.56 27.13 36.39 48.67
23.37 27.82 36.48 38.84 44.52 46.11 54.29 70.09

7.89 10.83 14.06 17.1 20.3 23.56 27.52 31.35
0 0 0 0 0 0 0 0
15.48 16.99 22.42 21.74 24.22 22.55 26.77 38.74
0 0 0 0 0 0 0 0
0 0.48 0.01 0.42 0.34 0.38 0.82 0.49
0.04 0.04 0.1 0.1 0.1 0.15 1.14 3.42
0.71 1.06 1.09 0.92 1.61 1.96 2.35 3.18

4.25 4.67 6.43 6.97 7.48 9.04 11.31 12.54
1.29 2.89 1.63 1.47 1.81 1.49 1.78 1.62
1.76 3.37 4.41 5.21 2.97 3.25 4.12 3.47
8.01 11.99 13.56 14.57 13.87 15.74 19.56 20.81
1.28 3.7 5.33 3.39 4.16 4.23 6.77 8.8

2.71 4.22 4.57 5.48 3.17 3.75 2.09 1.37
3.99 7.92 9.9 8.87 7.33 7.98 8.86 10.17
4.02 4.07 3.66 5.7 6.54 7.76 10.7 10.64
0.07 0.03 0 0 0 0 0 0
0.03 0 0.04 0.06 0 0 0 0
2.69 2.66 2.99 3.49 3.64 3.71 3.04 4.62
-2.66 -2.66 -2.95 -3.43 -3.64 -3.71 -3.04 -4.62
16.95 18.95 23.24 24.53 27.56 27.13 36.39 48.67
0 0.87 2.76 1.2 1.47 0.48 0.36 0

PRODUCTS - RAW MATERIALS - Shakti Met-dor (Curr: Rs in Cr.)

Diphenyl 29000000 200903 Kg 7760
Hardware and others 22044 200903 NA 0
Others 11106 200903 NA 0
Cont.Card 11106 200903 No 544
Mild Steel 72000000 200903 MT 2552
Others 11106 200803 NA 0
Diphenyl 29000000 200803 Kg 11506
Mild Steel 72000000 200803 MT 2977
Cont.Card 11106 200803 No 78236
Cont.Card 11106 200703 No 70316
Mild Steel 72000000 200703 MT 2393
Diphenyl 29000000 200703 Kg 10714
Others 11106 200703 NA 0
Cont.Card 11106 200603 No 48274
Others 11106 200603 NA 0
Mild Steel 72000000 200603 MT 1943
Diphenyl 29000000 200603 Kg 12136
Mild Steel 72000000 200503 MT 1287
Others 11106 200503 NA 0
Cont.Card 11106 200503 NA 0
Mild Steel 72000000 200403 MT 699
Others 11106 200403 NA 0
Cont.Card 11106 200403 NA 0
Mild Steel 72000000 200303 MT 0
Others 11106 200303 NA 0
Cont.Card 11106 200303 NA 0
Others 11106 200203 NA 0
Cont.Card 11106 200203 NA 0
Mild Steel 72000000 200203 MT 362
Mild Steel 72000000 200103 MT 22
Paints 32080000 200103 Ltr 12187
Others 11106 200103 NA 0
Cont.Card 11106 200103 NA 0
Galvanised Plain Sheets 72104900 200103 MT 425
Paints 32080000 200003 Ltr 12653
Others 11106 200003 NA 0
Mild Steel 72000000 200003 MT 89
Cont.Card 11106 200003 NA 0
Others 11106 199903 NA 0
Mild Steel 72000000 199903 MT 163
Paints 32080000 199903 Ltr 8051
Zintec Sheets 22106 199903 Kg 6
Others 11106 199803 NA 0
Mild Steel 72000000 199803 MT 224
Aluminium 76011000 199803 MT 6
Aluminium 76011000 199703 Kg 12662
Galvanised Plain Sheets 72104900 199703 Kg 157164
Mild Steel 72000000 199703 Kg 297130
Others 11106 199703 NA 0
Aluminium 76011000 199603 Kg 18879
Galvanised Plain Sheets 72104900 199603 Kg 12350
Mild Steel 72000000 199603 Kg 2184
Others 11106 199603 NA 0
Raw Mtls.consumed 11106 199503 NA 0
Raw Mtls.Counsumed 11106 199403 NA 0
0.37 476.8
19.63 0
0 0
0 0
12.01 47061.13
5.45 0
13.65 0
0.51 443.25
13.59 45649.98
0.78 99.7
0.72 102.39
12.29 51358.13
0.54 504.01
5.87 0
9.86 0
0.49 101.5
6.48 0
4.08 0
8.74 44981.99
0.6 494.4
5.76 44755.24
7.43 0
0.2 0
3.34 47782.55
4.3 0
0.17 0
2.38 0
2.91 0
0.18 0
1.82 0
0.23 0
1.52 41988.95
0.34 154545.45
0.26 213.34
1.32 0
0.24 0
1.32 31058.82
0.22 173.87
1.29 0
0.19 21348.31
1.29 29318.18
0.18 0
0.71 0
0.67 25378.79
0.34 20858.9
0.14 173.89
0.17 283333.33
0.62 0
0.14 0
0.51 22767.86
0.07 116666.67
0.54 25471.7
0.144 113.73
0.361 22.97
0.723 24.33
0.116 54.15
0.488 0
0.192 101.7
0.034 27.53
0.043 196.89
0.13 0
0.11 0
0.8 0
PRODUCTS - FINISHED PRODUCTS - Shakti Met-dor (Curr: Rs in Cr.)

Steel Door Sets 72281001 200903 No 49.69
Hardware 22106 200903 NA 35.51
Others 11106 200903 NA 14.8
General Doors 73083000 200903 No 0
Hardware 22106 200803 NA 32.3
Others 11106 200803 NA 16.96
Hardware 22106 200703 NA 30.59
Others 11106 200703 NA 15.57
Hardware 22106 200603 NA 29.79
Others 11106 200603 NA 22.47
Hardware 22106 200503 NA 34.68
Others 11106 200503 NA 5.18
Hardware 22106 200403 NA 36.41
Others 11106 200403 NA 8.24
Hardware 22106 200303 NA 30.75
Others 11106 200303 NA 7.45
General Doors 73083000 200203 No 62.6
Hardware 22106 200203 NA 25.58
Others 11106 200203 NA 11.83
General Doors 73083000 200103 No 61.68
Hardware 22106 200103 NA 24.37
Others 11106 200103 NA 8.5
Prefab Telephone Booths 11106 200103 No 4.95
Door Frames 73083000 200103 No 0.51
General Doors 73083000 200003 No 49.93
Prefab Telephone Booths 11106 200003 No 24.31
Hardware 22106 200003 NA 17.37
Others 11106 200003 NA 7.38
Door Frames 73083000 200003 No 1.01
General Doors 73083000 199903 No 47.39
Fire Doors 83030000 199903 No 24.13
Hardware 22106 199903 NA 21.74
Others 11106 199903 NA 4.13
Miscellaneous Products 11106 199903 NA 1.52
Door Frames 73083000 199903 No 0.87
Security Doors 73083000 199903 No 0.22
General Doors 73083000 199803 No 51.46
Fire Doors 83030000 199803 No 21.22
Others 11106 199803 NA 17.24
Door Frames 73083000 199803 No 9.55
Doors-Insulated Fire Proof 83030000 199803 SqM 0
Door Frames 73083000 199703 No 33.99
Doors-Insulated Fire Proof 83030000 199703 SqM 28.46
Others 11106 199703 NA 26.22
General Doors 73083000 199703 No 11.17
Others 11106 199603 NA 90.18
Door Frames 73083000 199603 No 9.6
Doors-Insulated Fire Proof 83030000 199603 SqM 0.22
Sale of Sections 22106 199503 MT 88.89
Sale of Systems 22106 199503 No 11.11
Sale of Sections 22106 199403 MT 98.85
Sale of Systems 22106 199403 No 1.15
0 0 0 43787 32.53
0 0 0 0 23.25
0 0 0 0 9.69
0 0 0 0 0
98.82 60000 59293 56582 39.76
0 0 0 0 25.31
0 0 0 0 13.29
0 0 0 0 0
74.98 60000 44989 44701 36.76
0 0 0 0 20.89
0 0 0 0 10.63
0 0 0 0 0
79.51 40000 31802 31491 23.46
0 0 0 0 14.64
0 0 0 0 11.04
0 0 0 0 0
97.78 20000 19556 19543 17.29
0 0 0 0 9.97
0 0 0 0 1.49
0 0 0 0 0
0 0 10922 10967 10.08
0 0 0 0 6.63
0 0 0 0 1.5
0 0 0 0 0
0 0 8948 8930 7.88
0 0 0 0 3.92
0 0 0 0 0.95
0 0 0 0 0
0 0 4224 4217 4.87
0 0 0 0 1.99
0 0 0 0 0.92
0 0 0 3494 4.86
0 0 0 0 1.92
0 0 0 0 0.67
0 0 159 159 0.39
0 0 0 408 0.04
0 0 3094 3116 3.45
0 0 676 676 1.68
0 0 0 0 1.2
0 0 0 0 0.51
0 0 1435 1449 0.07
0 0 1675 1702 2.18
0 0 840 848 1.11
0 0 0 0 1
0 0 0 0 0.19
0 0 0 0 0.07
0 0 183 246 0.04
0 0 9 9 0.01
0 0 1284 1253 1.94
0 0 388 376 0.8
0 0 0 0 0.65
0 0 4399 4322 0.36
0 0 9 9 0.02
0 30000 0 0 0
0 0 7735 7720 1.05
1.22 30000 367 363 0.88
0 0 0 0 0.81
0 0 226 213 0.35
0 0 0 2 0.01
0 0 0 0 0.4
0 0 551 551 0.04
0 0 4 1 0
0 0 0 49.22 0.16
0 0 0 241 0.02
0 30000 1 0 0
0 0 0 447.77 0.86
0 0 0 663 0.01
0 7500 0 0 0
7429.15
0
0
0
7026.97
0
0
0
8223.53
0
0
0
7449.75
0
0
0
8847.16
0
0
0
9191.21
0
0
0
8824.19
0
0
0
11548.49
0
0
13909.56
0
0
24528.3
980.39
11071.89
24852.07
0
0
483.09
12808.46
13089.62
0
0
0
1626.02
11111.11
15482.84
21276.6
0
832.95
22222.22
0
1360.1
24214.88
0
16197.18
25000
0
780.4
10000
32507.11
829.88
0
19206.29
150.83
0
RATIOS - VALUATION RATIOS - Shakti Met-dor
199503 199603 199703 199803 199903 200003 200103 200203 200303

Price Earning (P/E) 0 0 0 0 0 0 1.36 0 0
Price to Book Value ( P/BV) 0 0 0 0 0 0 0.13 0 0
Price/Cash EPS (P/CEPS) 0 0 0 0 0 0 0.88 0 0
EV/EBIDTA 0 0 0 0 0 0 4.04 0 0
Market Cap/Sales 0 0 0 0 0 0 0.05 0 0
200403 200503 200603 200703 200803 200903
0 2.21 4.98 5.49 4.4 3.74
0 0.93 2.44 2.07 1.39 0.48
0 2.09 4.78 5.06 4.09 2.89
0 2.05 3.83 4.02 3.25 3.62
0 0.32 0.9 0.84 0.69 0.33
RATIOS - KEY FINANCIAL RATIOS - Shakti Met-dor
199503 199603 199703 199803 199903 200003 200103 200203 200303

Key Ratios
Current Ratio 0.92 1.19 1.01 1.12 1.4 1.61 1.85 1.9 1.95
Turnover Ratios
Fixed Assets 0.13 0.16 1.01 1.22 1.47 2.14 2.24 2.07 3.5
Inventory 1.44 1.27 4.98 5.98 7.02 10.88 13.36 15.88 15.18
Debtors 0.53 1.3 5.62 4.19 3.42 4.15 4.75 4.06 4.84
Interest Cover Ratio 0 -1.24 -0.04 0.79 1.17 1.68 2.86 3.4 10.67
PBIDTM (%) 16.67 -20 3.88 9.28 10.43 8.83 9.64 11.05 13.88
PBITM (%) 0 -46.67 -0.32 5.84 7.61 6.8 7.61 8.74 12.55
PBDTM (%) 5.56 -57.78 -4.21 1.86 3.91 4.78 6.98 8.48 12.71
CPM (%) 5.56 -57.78 -4.21 1.86 3.91 4.78 6.85 4.24 9.18
APATM (%) -11.11 -84.44 -8.41 -1.59 1.09 2.75 4.82 1.93 7.84
ROCE (%) 0 0 0 0 8.06 9.61 11.96 13.22 28.62
RONW (%) -1.31 0 0 0 1.81 6.15 12.3 4.85 28.53
200403 200503 200603 200703 200803 200903
0.48 0.46 0.31 0.27 0.29 0.42

0.24 0.14 0.08 0.04 0.02 0.15
2.04 1.86 1.97 2.01 2.02 1.49
4.59 5.5 5.91 5.36 4.71 1.88

14.74 11.95 11.13 11.3 11.81 10.64
5.56 5.9 6.55 6.21 4.77 3.26
22.57 47.86 46.47 39.6 20.53 6.64
18.4 24.14 29.14 25.64 26.89 18.68
17.35 23.3 28.37 24.36 25.68 16.11
17.63 23.65 28.53 25.03 25.64 16.25
13.23 15.3 18.95 16.77 17.15 11.39
12.19 14.47 18.17 15.48 15.94 8.83
44.07 58.9 76.36 57.29 46.84 17.75
45.26 53.16 64.24 46.26 37.39 13.85
FINANCE -CASH FLOW - Shakti Met-dor (Curr: Rs in Cr.)
199703 199803 199903 200003 200103 200203

Cash Flow Summary
Net Cash from Operating Activities -0.55 -0.41 -0.38 0.48 0.7 0.23
Net Cash Used in Investing Activities -0.1 0.03 -0.05 -0.17 -0.44 -0.16
Net Cash Used in Financing Activities 0.65 0.39 0.42 -0.31 -0.2 -0.08
Net Inc/(Dec) in Cash and Cash Equivalent 0 0.01 -0.01 0 0.06 -0.01
200303 200403 200503 200603 200703 200803 200903
0.06 0.01 0.02 1.33 1.61 6.11 6.93

0.11 1.26 -0.07 5.87 6.38 6.26 19.65
-0.18 -1.47 -2.06 -4.47 -5.31 -6.14 -32.46
0.02 0.22 2.23 -1.12 3.43 0.7 11.6
-0.05 0.01 0.1 0.28 4.5 0.82 -1.21
0.01 0.02 0.12 1.61 6.11 6.93 5.72
FINANCE -FUNDS FLOW - Actual - Shakti Met-dor (Curr: Rs in Cr.)
199503 199603 199703 199803 199903 200003 200103 200203 200303

Sources of funds
Cash profit 0.01 0 0 0.08 0.18 0.34 0.39 0.26 0.98

Increase in equity 2.85 0.05 0.01 0 0 0 0 0 0
Increase in other networth 0 0 0 0.15 0 0 0 0 0
Increase in loan funds 0.2 0.58 0.64 0.09 0.42 0 0.2 0 0.02
Decrease in gross block 0 0 0 0 0 0 0 0 0.1
Decrease in investments 0 0 0 0.05 0 0 0 0 0
Decrease in working capital 0 0.07 0 0 0 0 0 0 0
Others 0 0 0 0 0.06 0.06 0.07 0.06 0.07
Total Inflow 3.06 0.7 0.65 0.37 0.66 0.4 0.66 0.32 1.17
Cash loss 0 0.26 0.13 0 0 0 0 0 0

Decrease in networth 0.04 0 0 0 0 0 0 0 0
Decrease in loan funds 0 0 0 0 0 0.08 0 0.08 0
Increase in gross block 2.41 0.44 0.05 0.02 0.05 0.17 0.44 0.01 0
Increase in investments 0 0 0.05 0 0 0 0 0 0
Increase in working capital 0.58 0 0.36 0.35 0.61 0.15 0.22 0.23 1.17
Dividend 0 0 0 0 0 0 0 0 0
Others 0.03 0 0.06 0 0 0 0 0 0
Total Outflow 3.06 0.7 0.65 0.37 0.66 0.4 0.66 0.32 1.17
200403 200503 200603 200703 200803 200903
2.18 4.33 9.26 11.34 13.42 7.42

0 0 0 0 0 0
0 0 0 0 0 0
0.22 2.23 0 4.34 2.4 13.9
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 12.26
0.05 0.07 0 0 0 0
2.45 6.63 9.26 15.68 15.82 33.58
0 0 0 0 0 0
0 0.03 0.08 0.14 0.15 0.09
0 0 0.69 0 0 0
1.14 1.94 4.27 5.35 6.8 32.94
0 0 0 0 0 0
1.31 4.38 3.67 9.36 8.04 0
0 0.28 0.55 0.83 0.83 0.55
0 0 0 0 0 0
2.45 6.63 9.26 15.68 15.82 33.58
FINANCE -PROFIT AND LOSS - Shakti Met-dor (Curr: Rs in Cr.)
199803 (12) 199903 (12) 200003 (12) 200103 (12)

INCOME :
Sales Turnover 3.77 4.6 6.91 7.88
Excise Duty 0.3 0.36 0.5 0.61
Net Sales 3.47 4.24 6.41 7.27
Other Income 0.03 0.02 0.04 0.02
Stock Adjustments 0.06 -0.02 -0.29 -0.05
Total Income 3.56 4.24 6.16 7.24
EXPENDITURE :
Raw Materials 1.88 2.03 3.17 3.48
Power & Fuel Cost 0.04 0.06 0.1 0.09
Employee Cost 0.28 0.38 0.51 0.65

Interest 0.28 0.3 0.28 0.21
Gross Profit 0.09 0.18 0.33 0.46
Depreciation 0.13 0.13 0.14 0.16
Profit Before Tax -0.04 0.05 0.19 0.3
Tax 0 0 0 0.01
Reported Net Profit -0.04 0.05 0.19 0.29
Extraordinary Items 0.02 0 0 -0.09
Adjusted Net Profit -0.06 0.05 0.19 0.38

Dividend 0 0 0 0
Earnings Per Share-Unit Curr 0 0.17 0.65 0.99

200203 (12) 200303 (12) 200403 (12) 200503 (12) 200603 (12) 200703 (12) 200803 (12) 200903 (12)
7.78 12.75 18.21 28.75 49.14 68.28 78.36 65.47

0.58 0.99 1.32 2.21 2.99 4.68 5.27 3.56
7.2 11.76 16.89 26.54 46.15 63.6 73.09 61.91
0.08 0.03 0.07 0.1 0.18 0.33 0.76 0.63
0.01 0.08 -0.07 0.04 0.2 0.06 0.11 0.33
7.29 11.87 16.89 26.68 46.53 63.99 73.96 62.87
3.57 5.47 7.81 13.39 20.39 29.28 33.98 32.01

0.08 0.1 0.13 0.14 0.32 0.35 0.49 0.58
0.6 0.92 0.94 1.12 1.56 2.71 3.32 4.31
0.28 0.63 0.57 0.7 1.16 1.17 1.95 2.27
1.67 2.72 4.02 4.15 8.3 12.46 12.64 11.02
0.33 0.54 0.39 0.24 0.48 0.51 0.51 0.45
0 0 0 0 0 0 0 0
6.53 10.38 13.86 19.74 32.21 46.48 52.89 50.64
0.76 1.49 3.03 6.94 14.32 17.51 21.07 12.23

0.2 0.15 0.14 0.14 0.3 0.42 0.98 1.59
0.56 1.34 2.89 6.8 14.02 17.09 20.09 10.64
0.18 0.17 0.19 0.24 0.38 0.88 0.95 1.68
0.38 1.17 2.7 6.56 13.64 16.21 19.14 8.96
0.02 0.21 0.65 2.36 4.3 5.57 6.39 1.51
0 0 0 0 0.06 0.11 0.1 0.11
0.24 0.15 0.06 0.04 0.35 -0.04 0.16 1.56
0.12 0.81 1.99 4.16 8.93 10.57 12.49 5.78
-0.03 -0.19 -0.23 -0.03 -0.15 -0.05 -0.03 -0.01
0.15 1 2.22 4.19 9.08 10.62 12.52 5.79
0 0 0 0 0 0 0 0
-0.11 0.01 0.82 2.81 6.45 14.3 21.9 31.92
0 0 0 0 0 0 0 0
0 0 0 0.52 1.08 2.97 2.47 1.22
0.01 0.82 2.81 6.45 14.3 21.9 31.92 36.48
0 0 0 0.28 0.55 0.83 0.83 0.55

0 0 0 0 0 0 0 0
0 0 0 10 20 30 30 20
0.41 2.76 6.77 14.05 30.1 35.48 42.01 19.35

10.54 13.3 20.07 33.16 61.39 94.05 133.2 150.68
FINANCE -BALANCE SHEET - Shakti Met-dor (Curr: Rs in Cr.)
199803 199903 200003 200103 200203 200303 200403

SOURCES OF FUNDS :
Share Capital 2.94 2.94 2.94 2.94 2.94 2.94 2.94
Reserves Total -0.49 -0.44 -0.25 0.04 0.16 0.97 2.96
Secured Loans 1.17 1.37 1.04 1.18 1.1 1.12 1.35
Unsecured Loans 0.6 0.82 1.07 1.13 1.13 1.13 1.12
Total Debt 1.77 2.19 2.11 2.31 2.23 2.25 2.47
Gross Block 3.11 3.16 3.31 3.72 3.78 3.5 4.44
Net Block 2.7 2.62 2.62 2.93 2.85 2.58 3.53
Capital Work in Progress 0 0 0.02 0.05 0 0 0
Investments 0 0 0 0 0 0 0
Inventories 0.64 0.67 0.6 0.58 0.4 1.28 1.19
Sundry Debtors 1.06 1.63 1.7 1.62 2.21 3.06 3.49
Cash and Bank 0.1 0.09 0.01 0.07 0.06 0.01 0.03
Provisions 0 0 0 0 0 0 0
Deferred Tax Liability 0 0 0 0 0.24 0.4 0.46
Net Deferred Tax 0 0 0 0 -0.24 -0.4 -0.46
Total Assets 4.22 4.69 4.8 5.29 5.33 6.16 8.37

200503 200603 200703 200803 200903
2.94 2.94 2.94 2.94 2.94

6.81 15.11 24.71 36.22 41.36
9.75 18.05 27.65 39.16 44.3
3.58 3 7.52 10.15 22.19
1.12 1.01 0.83 0.6 2.46
4.7 4.01 8.35 10.75 24.65
14.45 22.06 36 49.91 68.95
6.02 10.62 14.86 18.39 51.14

1.08 1.41 2.18 3.11 4.75
0 0 0 0 0
4.94 9.21 12.68 15.28 46.39
0 0 0 0 0
0.36 0.03 1.14 4.41 4.6
0 0 0 0 0
3.62 5.21 6.88 6.39 5.92

6.26 8.74 13.25 19.63 20.58
1.32 1.61 6.11 6.93 5.72
1.69 2.77 3.92 5.3 6.55
12.89 18.33 30.16 38.25 38.77
2.9 4.04 6.1 5.93 17.32

0.35 0.63 1.08 1.15 0.96
3.25 4.67 7.18 7.08 18.28
9.64 13.66 22.98 31.17 20.49
0 0 0 0 0
0 0 0.19 0.32 0.31
0.49 0.84 0.99 1.27 2.84
-0.49 -0.84 -0.8 -0.95 -2.53
14.45 22.06 36 49.91 68.95
0.89 2.95 4.84 5.98 2.88

PRODUCTS - RAW MATERIALS - SBEC Systems (Curr: Rs in Cr.)

Industrial Machinery-Purchased 84000000 199909 NA 0
Service Charges 10044 199909 NA 0
Batch Centrifugal Machine-Pur. 84210000 199509 No 7
Hydraulic Drive Systems-Purch. 84000000 199509 No 2
Others -Purchases 2044 199509 NA 0
Raw Mtls.Consumed 11044 199403 NA 0
Raw Mtls.Consumed 11044 199303 NA 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
2.9 0
-2.11 0
0.81 0
5.537 0
0.06 0
6.27 0
3.91 5585714.29
7.89 39450000
0.88 0
3.15 0
0.84 0
PRODUCTS - FINISHED PRODUCTS - SBEC Systems (Curr: Rs in Cr.)

Industrial Machinery & Compon. 84000000 199909 NA 56.61
Service Charges 10044 199909 NA 18.15
Consultancy Charges 43044 199909 NA 16.81
Erection services 3044 199909 NA 8.43
Services 10044 199703 NA 30.67
Hydraulic Drive System 84000000 199509 No 52.36
Batch Centrifugal Machine 84210000 199509 No 25.95
Service Charges 10044 199509 No 11.48
Others 11044 199509 No 6.3
Services 10044 199509 NA 3.92
Others 11044 199403 No 61.66
Batch Centrifugal Machine 84210000 199403 No 25.35
Service Rendered 10044 199403 No 12.98
Others 11044 199303 No 58.99
Service Rendered 10044 199303 NA 41.01
Batch Centrifugal Machine 84210000 199303 No 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 2.53
0 0 0 0 0.81
0 0 0 0 0.75
0 0 0 0 0.38
0 0 0 0 18.86
0 0 0 0 0.25
0 0 0 0 0.09
0 0 0 0 4.12
0 0 0 0 2.42
0 0 0 0 1.35
0 0 0 2 7.89
0 0 0 7 3.91
0 0 0 0 1.73
0 0 0 0 0.95
0 0 0 0 0.59
0 0 0 0 3.04
0 0 0 3 1.25
0 0 0 0 0.64
0 0 0 0 0.82
0 0 0 0 0.57
0 0 0 0 0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
39450000
5585714.29
0
0
0
0
4166666.67
0
0
0
0
RATIOS - VALUATION RATIOS - SBEC Systems
199303 199403 199509 199703 199806 199909 200012 200203 200303

Price Earning (P/E) 0 15.57 26.6 0 0 0 0 0 0
Price to Book Value ( P/BV) 0 1.67 1.01 0.33 0.13 0.75 0 0 0
Price/Cash EPS (P/CEPS) 0 14.13 15.63 -15.38 -0.29 -2.4 0 0 0
EV/EBIDTA 0 12.98 23.57 8.48 0 0 0 0 0
Market Cap/Sales 0 1.89 0.83 0.51 0.06 1.05 0 0 0
200403 200503 200603 200703 200803 200903
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
RATIOS - KEY FINANCIAL RATIOS - SBEC Systems
199303 199403 199509 199703 199806 199909 200012 200203 200303

Key Ratios
Debt-Equity Ratio 0.25 0.03 0.77 1.54 1.96 2.27 5.72 0 0
Long Term Debt-Equity Ratio 0.25 0.03 0.76 1.45 1.71 1.81 4.59 0 0
Current Ratio 1.08 1.77 6.9 4.9 2.29 1.52 1.07 0.41 0.2
Turnover Ratios
Fixed Assets 15.44 75.85 37.91 10.85 39.88 16.99 0 0 0
Inventory 1.48 10.06 2.47 0.56 2.89 27.45 0 0 0
Debtors 5.15 3.88 4.06 0.94 2.24 0.88 0 0 0
Interest Cover Ratio 0 0 3.37 0.72 1.41 -0.84 -0.43 -4.79 -0.9
PBIDTM (%) 17.99 13.39 7.3 32.57 8.29 -19.96 0 0 0
PBITM (%) 17.27 12.17 6.7 30.67 7.92 -20.18 0 0 0
PBDTM (%) 17.99 13.39 5.31 -10.01 2.66 -43.95 0 0 0
CPM (%) 17.99 13.39 5.31 -10.01 2.45 -43.95 0 0 0
APATM (%) 17.27 12.17 4.71 -11.91 2.08 -44.17 0 0 0
ROCE (%) 55.81 28.17 4.88 5.59 0 0 0 0 0
RONW (%) 66.67 20.17 5.25 -5.13 0 0 0 0 0
200403 200503 200603 200703 200803 200903
0 0 0 0 0 0
0 0 0 0 0 0
0.66 1.12 0.79 0.68 0.93 1.06
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 -8.75 -0.33 0.4 6.25 -0.19
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 2.74 0
0 0 0 0 9.97 0
FINANCE -CASH FLOW - SBEC Systems (Curr: Rs in Cr.)
199806 199909 200012 200203 200303 200403

Cash Flow Summary
Net Cash from Operating Activities 10.55 2.54 -5.56 -0.2 -0.45 0.31
Net Cash Used in Investing Activities -0.52 -2.75 5.76 0 0.02 6.92
Net Cash Used in Financing Activities -10.65 0.19 -0.2 0.2 0.37 -7.22
Net Inc/(Dec) in Cash and Cash Equivalent -0.62 -0.02 0 0 -0.06 0.01
200503 200603 200703 200803 200903
0.13 0.75 1.28 0.11 0.12

0.69 0.24 -0.86 0.01 0.22
0.68 0 0.01 0 0
-0.75 0.29 -0.32 0 -0.23
0.62 0.53 -1.17 0.01 -0.01
0.75 1.28 0.11 0.12 0.11
FINANCE -FUNDS FLOW - Actual - SBEC Systems (Curr: Rs in Cr.)
199303 199403 199509 199703 199806 199909 200012 200203 200303

Sources of funds
Cash profit 0.24 0.6 0.88 0 0 0 0 0 0

Increase in equity 0.1 4.81 5.09 0 0 0 0 0 0
Increase in other networth 0.03 0 1.92 0 0.01 0.01 0 0 0
Increase in loan funds 0.09 0 13.67 10.14 0 1.28 0.03 0.22 0.77
Decrease in gross block 0 0 0.46 0.01 0.03 0.03 0 0 0
Decrease in working capital 0 0 0 5.21 11.48 0 7.61 1.16 0.73
Others 0 0 0 0.45 0.38 1.59 0 0 0
Total Inflow 0.46 5.41 22.02 15.81 11.9 2.91 7.64 1.38 1.5
Cash loss 0 0 0 0.26 3.75 1.96 6.52 1.38 1.45

Decrease in networth 0 0 0 0.01 0 0 0 0 0
Decrease in loan funds 0 0 0 0 8.14 0 0 0 0
Increase in gross block 0.27 0.68 0 0 0 0 0.02 0 0.01
Increase in investments 0 0 0 15.54 0.01 0 1.1 0 0.04
Increase in working capital 0.16 2.72 20.57 0 0 0.95 0 0 0
Dividend 0.01 0.18 0.88 0 0 0 0 0 0
Others 0.02 1.83 0.57 0 0 0 0 0 0
Total Outflow 0.46 5.41 22.02 15.81 11.9 2.91 7.64 1.38 1.5
200403 200503 200603 200703 200803 200903
0.01 0 0 0 0.37 0
0 0 0 0 0 0
0 0 0 0.02 0 0
0 0 0 0 0 1.96
0 0 0 0.01 0 0
6.9 0.68 0 0 0 0.89
0 0.85 0.65 1.93 0.56 1.08
0 0 0 0 0 0
6.91 1.53 0.65 1.96 0.93 3.93
0 0.78 0.61 0.02 0 3.92

0 0 0 0 0.01 0.01
0.32 0.75 0.04 1.94 0.92 0
0 0 0 0 0 0
0 0 0 0 0 0
6.59 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
6.91 1.53 0.65 1.96 0.93 3.93
FINANCE -PROFIT AND LOSS - SBEC Systems (Curr: Rs in Cr.)
199403 (12) 199509 (18) 199703 (18) 199806 (15)

INCOME :
Sales Turnover 4.93 15.07 7.89 19.67
Excise Duty 0 0 0 0
Net Sales 4.93 15.07 7.89 19.67
Other Income 0.09 0.44 1.22 1.02
Stock Adjustments -0.9 0 2.4 -10.38
Total Income 4.12 15.51 11.51 10.31
EXPENDITURE :
Raw Materials 2.25 12.67 6.27 5.6
Power & Fuel Cost 0 0 0 0
Employee Cost 0.14 0.28 0.28 0.27
Selling and Administration Expenses 0.75 0.72 1 2.69

Interest 0 0.3 3.36 4.94
Gross Profit 0.66 0.8 -0.15 -3.72
Depreciation 0.06 0.09 0.15 0.07
Profit Before Tax 0.6 0.71 -0.3 -3.79
Tax 0 0 0.11 0.02
Reported Net Profit 0.6 0.71 -0.41 -3.81
Extraordinary Items 0 0 0.01 -0.01
Adjusted Net Profit 0.6 0.71 -0.42 -3.8

P & L Balance brought forward 0.24 0.61 0.41 0
Appropriations 0.23 0.9 0 -0.09
P & L Balance carried down 0.61 0.42 0 -3.72
Dividend 0.18 0.89 0 0

Earnings Per Share-Unit Curr 1.22 0.47 0 0

199909 (15) 200012 (15) 200203 (15) 200303 (12) 200403 (12) 200503 (12) 200603 (12) 200703 (12)
4.46 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
4.46 0 0 0 0 0 0 0
0.59 0.34 0 0.07 0.34 0.86 0.3 0.33
0 0 0 0 0 0 0 0
5.05 0.34 0 0.07 0.34 0.86 0.3 0.33
1.6 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0.12 0.11 0.07 0.06 0.05 0.08 0.07 0.11
0.01 0 0 0 0 0 0 0
2.42 0.36 0.32 0.61 0.21 0.73 0.29 0.11
1.79 5.88 0.75 0.08 0.08 0.75 0.09 0.08
0 0 0 0 0 0 0 0
5.94 6.35 1.14 0.75 0.34 1.56 0.45 0.3
-0.89 -6.01 -1.14 -0.68 0 -0.7 -0.15 0.03

1.07 0.51 0.24 0.77 0 0.08 0.46 0.05
-1.96 -6.52 -1.38 -1.45 0 -0.78 -0.61 -0.02
0.01 0 0.01 0.01 0 0 0 0
-1.97 -6.52 -1.39 -1.46 0 -0.78 -0.61 -0.02
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
-1.97 -6.52 -1.39 -1.46 0 -0.78 -0.61 -0.02
0 -5.79 0 0 0 0 0 0.01
-1.97 -0.73 -1.39 -1.46 0 -0.78 -0.61 -0.03
0 0 0 0 0 0 0 0
-3.72 -5.69 -12.21 -13.6 -15.06 -15.06 -15.84 -16.45
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
-5.69 -12.21 -13.6 -15.06 -15.06 -15.84 -16.45 -16.47
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
6.24 -0.28 -1.67 -3.13 -3.13 -3.91 -4.52 -4.54
200803 (12) 200903 (12)
0 0
0 0
0 0
1.05 0.46
0 0
1.05 0.46
0 0
0 0
0.05 0.05
0 0
0.02 0.04
0.48 0.99
0 0
0.55 1.08
0.5 -0.62
0.08 3.3
0.42 -3.92
0 0
0.42 -3.92
0.05 0
0 0
0 0
0.37 -3.92
0 -0.02
0.37 -3.9
0 0
-16.47 -16.1
0 0
0 0
-16.1 -20.02
0 0
0 0
0 0
0.37 0
-4.17 -8.09
FINANCE -BALANCE SHEET - SBEC Systems (Curr: Rs in Cr.)
199403 199509 199703 199806 199909 200012 200203

SOURCES OF FUNDS :
Share Capital 4.91 10 10 10 10 10 10
Reserves Total 0.68 2.43 2.01 -1.79 -3.76 -10.28 -11.67
Total Shareholders Funds 5.59 12.43 12.01 8.21 6.24 -0.28 -1.67
Secured Loans 0 0.24 9.95 0.01 0.01 0.01 0
Unsecured Loans 0.1 13.52 13.95 15.75 17.03 17.06 17.29
Total Debt 0.1 13.76 23.9 15.76 17.04 17.07 17.29
Gross Block 0.12 0.49 0.48 0.28 0.13 0.14 0.12
Net Block 0.04 0.32 0.16 0.06 0.02 0.04 0.03
Capital Work in Progress 0 0 0 0 0 0 0
Investments 0 0 15.54 15.55 15.55 16.65 16.65
Inventories 0.04 8.11 10.51 0.13 0.13 0.13 0.13
Sundry Debtors 2.25 2.68 8.54 5.19 2.95 0.84 0.16
Cash and Bank 0.85 0.33 0.67 0.2 0.18 0.18 0.18
Provisions 0.18 0.93 0.11 0.11 0.13 0.14 0.15
Net Current Assets 2.89 23.45 18.24 6.77 7.71 0.1 -1.06
Miscellaneous Expenses not written off 2.76 2.42 1.97 1.59 0 0 0
Total Assets 5.69 26.19 35.91 23.97 23.28 16.79 15.62

200303 200403 200503 200603 200703 200803 200903
10 10 10 10 10 10 10
-13.13 -13.13 -13.91 -14.52 -14.54 -14.17 -18.09
-3.13 -3.13 -3.91 -4.52 -4.54 -4.17 -8.09
0 0 0 0 0 0 0
18.06 17.74 16.99 16.95 15.01 14.09 16.05
18.06 17.74 16.99 16.95 15.01 14.09 16.05
14.93 14.61 13.08 12.43 10.47 9.92 7.96
0.1 0.1 0.1 0.1 0.09 0.07 0.07

0.07 0.08 0.08 0.08 0.08 0.06 0.06
0 0 0 0 0 0 0
0.03 0.02 0.02 0.02 0.01 0.01 0.01
0 0 0 0 0 0 0
0 0 0 0 0 0 0
16.69 9.79 9.11 9.11 9.11 9.11 8.22
0.13 0.13 0.13 0.13 0.13 0.02 0

0.15 0.15 0.15 0.12 0.07 0.02 0.25
0.12 0.13 0.75 1.28 0.11 0.11 0.1
0.32 7.16 7.15 6.74 5.12 4.88 4.02
0.72 7.57 8.18 8.27 5.43 5.03 4.37
2.47 2.74 4.18 4.92 3.99 4.18 4.64

0.04 0.03 0.05 0.05 0.07 0.04 0
2.51 2.77 4.23 4.97 4.06 4.22 4.64
-1.79 4.8 3.95 3.3 1.37 0.81 -0.27
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
14.93 14.61 13.08 12.43 10.49 9.93 7.96
40.7 33.08 4.26 1.14 1.23 1.16 1.16

PRODUCTS - RAW MATERIALS - Sayaji Iron (Curr: Rs in Cr.)
Castings 73250000 200803 No 36919 12.25
Mild Steel 72000000 200803 Kg 3256546 13.52
Others 11044 200803 NA 0 6.6
Stores/Spares 7044 200803 NA 0 7.16
Loose Tools 82071900 200803 NA 0 0.74
Loose Tools 82071900 200703 NA 0 0.51
Castings 73250000 200703 No 31351 9.32
Mild Steel 72000000 200703 Kg 2839659 10.88
Others 11044 200703 NA 0 5.61
Others 11044 200603 NA 0 4.96
Castings 73250000 200603 No 22984 7.13
Loose Tools 82071900 200603 NA 0 0.66
Mild Steel 72000000 200603 Kg 2356129 8.64
Castings 73250000 200503 No 24133 6
Mild Steel 72000000 200503 Kg 1796863 6.68
Others 11044 200503 NA 0 2.68
Loose Tools 82071900 200503 NA 0 0.84
Others 11044 200403 NA 0 5.75
Castings 73250000 200403 No 35976 4.52
Mild Steel 72000000 200403 Kg 1670069 5.25
Castings 73250000 200303 No 49562 4.57
Mild Steel 72000000 200303 Kg 1360549 3.54
Others 11044 200303 NA 0 3.42
Mild Steel 72000000 200203 Kg 1209486 2.79
Others 11044 200203 NA 0 4.28
Castings 73250000 200203 No 31000 3.57
Mild Steel 72000000 200103 Kg 1009497 2.2
Others 11044 200103 NA 0 5.48
Castings 73250000 200103 No 33225 3.95
Castings 73250000 200003 No 23075 3.19
Mild Steel 72000000 200003 Kg 1229106 2.85
Others 11044 200003 NA 0 7.11
Castings 73250000 199903 No 13752 2.05
Mild Steel 72000000 199903 Kg 1054948 2.47
Others 11044 199903 NA 0 4.74
Castings 73250000 199803 No 21035 3.36
Mild Steel 72000000 199803 Kg 1478152 3.29
Others 11044 199803 NA 0 10.9
Castings 73250000 199703 No 32772 4.43
Others 11044 199703 NA 0 9.01
Mild Steel 72000000 199703 Kg 1595645 4.28
Adjustments 37044 199703 NA 0 -0.14
Castings 73250000 199603 No 45421 5.66
Mild Steel 72000000 199603 Kg 1992560 4.65
Others 11044 199603 No 0 7.55
Castings 73250000 199503 No 19615 2.73
Mild Steel 72000000 199503 Kg 1685541 3.28
Others 11044 199503 No 0 6.75
Castings 73250000 199403 No 19664 2.63
Mild Steel 72000000 199403 Kg 1552783 2.86
Others 11044 199403 No 1315520 4.61
Others 11044 199303 No 1541343 5.67
Castings 73250000 199303 No 18694 2.35
Mild Steel 72000000 199303 Kg 1305135 2.35
3318.07
41.52
0
0
0
0
2972.79
38.31
0
0
0
0
3102.16
0
36.67
0
2486.22
37.18
0
0
0
1256.39
31.44
922.08
26.02
0
23.07
0
1151.61
21.79
0
1188.86
1382.45
23.19
0
1490.69
23.41
0
1597.34
22.26
0
1351.76
0
26.82
0
1246.12
23.34
0
1391.79
19.46
0
1337.47
18.42
35.04
36.79
1257.09
18.01
PRODUCTS - FINISHED PRODUCTS - Sayaji Iron (Curr: Rs in Cr.)

Crushers 84798200 200803 No 56.76
Spares 7044 200803 NA 18.42
Project/Special Equipments 84000000 200803 No 14.02
Screen 84741000 200803 No 10.53
Others 11044 200803 No 0.27
Crushers 84798200 200703 No 51.03
Spares 7044 200703 NA 23
Screen 84741000 200703 No 9.73
Others 11044 200703 No 0.25
Crushers 84798200 200603 No 48.68
Spares 7044 200603 NA 21.42
Screen 84741000 200603 No 7.98
Others 11044 200603 No 0.62
Crushers 84798200 200503 No 51.42
Spares 7044 200503 NA 18.79
Screens 22044 200503 No 10.6
Others 11044 200503 No 0.24
Crushers 84798200 200403 No 53.69
Spares 7044 200403 NA 23.53
Screens 22044 200403 No 11.23
Others 11044 200403 No 0.27
Crushers 84798200 200303 No 48.55
Spares 7044 200303 NA 25.8
Screens 22044 200303 No 9.28
Others 11044 200303 No 5.34
Crushers 84798200 200203 No 50.39
Spares 7044 200203 NA 28.51
Screens 22044 200203 No 7.36
Others 11044 200203 No 0.74
Crushers 84798200 200103 No 45.34
Spares 7044 200103 NA 31.79
Screens 22044 200103 No 7.59
Others 11044 200103 No 1.34
Crushers 84798200 200003 No 36.52
Spares 7044 200003 NA 20.22
Screens 22044 200003 No 4.27
Others 11044 200003 No 2.11
Spares 7044 199903 NA 30.19
Crushers 84798200 199903 No 24.39
Screens 22044 199903 No 4.36
Adjustment 37044 199903 NA 3.62
Others 11044 199903 No 3.37
Crushers 84798200 199803 No 22.9
Spares 7044 199803 NA 19.55
Screens 22044 199803 No 3.28
Others 11044 199803 No 2.28
Crushers 84798200 199703 No 38.72
Spares 7044 199703 NA 19.49
Screens 22044 199703 No 5.61
Others 11044 199703 No 3.72
Crushers 84798200 199603 No 40.69
Spares 7044 199603 NA 25.3
Others 11044 199603 No 4.32
Screens 22044 199603 No 2.97
Crushers 84798200 199503 No 39.51
Spares 7044 199503 NA 19.06
Screens 22044 199503 No 5.18
Others 11044 199503 No 2.99
Service Income/Contracts 10044 199503 NA 0.56
Crushers 84798200 199403 No 35.99
Spares 7044 199403 NA 34.11
Others 11044 199403 No 5.76
Screens 22044 199403 No 5.48
Crushers 84798200 199303 No 45.07
Spares 7044 199303 NA 16.73
Screens 22044 199303 No 5.9
Others 11044 199303 NA 5.71
248.67 150 373 372 33.8
0 0 0 0 10.97
0 0 108 114 8.35
96 100 96 97 6.27
0 0 0 1 0.16
226.67 150 340 340 26.43
0 0 0 0 11.91
0 0 94 89 8.28
69 100 69 68 5.04
0 0 5 5 0.13
165.33 150 248 266 22.02
0 0 0 0 9.69
0 0 71 76 9.63
52 100 52 60 3.61
0 0 0 4 0.28
167.33 150 251 235 16.83
0 0 67 65 6.2
0 0 0 0 6.15
54 100 54 57 3.47
0 0 0 1 0.08
164 150 246 244 12.09
0 0 0 0 5.3
0 0 68 65 2.54
65 100 65 56 2.53
0 0 4 6 0.06
152.67 150 229 229 9.73
0 0 0 0 5.17
0 0 54 53 2.21
44 100 44 44 1.86
0 0 8 8 1.07
114 150 171 170 9.58
0 0 0 0 5.42
0 0 52 54 2.47
37 100 37 37 1.4
0 0 7 4 0.14
100.67 150 151 149 8.13
0 0 0 0 5.7
0 0 41 41 2.5
34 100 34 35 1.36
0 0 16 16 0.24
0 0 55 59 9.59
110 150 165 167 9.5
0 0 0 0 5.26
28 100 28 30 1.11
0 0 20 29 0.55
0 0 27 26 6.87
0 0 0 0 6.09
78 150 117 123 4.92
19 100 19 18 0.88
0 0 0 0 0.73
0 0 24 19 0.68
0 0 65 66 15.53
115.33 150 173 175 6.84
0 0 0 0 5.84
34 100 34 34 0.98
0 0 18 19 0.68
201.33 150 302 300 10.83
0 0 42 44 9.08
0 0 0 0 5.45
59 100 59 64 1.57
0 0 31 34 1.04
206.67 150 310 309 11.5
0 0 55 48 7.55
0 0 0 0 7.15
0 0 66 53 1.22
33 100 33 36 0.84
164.67 150 247 263 8.46
0 0 48 54 7
0 0 0 0 4.08
45 100 45 45 1.11
0 0 37 38 0.64
0 0 0 0 0.12
140 150 210 219 6.5
0 0 0 0 6.16
0 0 78 70 3.37
0 0 13 10 1.04
50 100 50 55 0.99
184.67 150 277 251 6.95
0 0 101 101 4.1
0 0 0 0 2.58
53 100 53 41 0.91
0 0 0 0 0.88
908602.15
0
732456.14
646391.75
1600000
777352.94
0
930337.08
741176.47
260000
827819.55
0
1267105.26
601666.67
700000
716170.21
953846.15
0
608771.93
800000
495491.8
0
390769.23
451785.71
100000
424890.83
0
416981.13
422727.27
1337500
563529.41
0
457407.41
378378.38
350000
545637.58
0
609756.1
388571.43
150000
1625423.73
568862.28
0
370000
189655.17
2642307.69
0
400000
488888.89
0
357894.74
2353030.3
390857.14
0
288235.29
357894.74
361000
2063636.36
0
245312.5
305882.35
372168.28
1572916.67
0
230188.68
233333.33
321673
1296296.3
0
246666.67
168421.05
0
296803.65
0
481428.57
1040000
180000
276892.43
405940.59
0
221951.22
0
RATIOS - VALUATION RATIOS - Sayaji Iron
199403 199503 199603 199703 199803 199903 200003 200103 200203

Price Earning (P/E) 0 0 0 0 0 0 0 0 0
Price to Book Value ( P/BV) 0 0 0 0 0 0 0 0 0
Price/Cash EPS (P/CEPS) 0 0 0 0 0 0 0 0 0
EV/EBIDTA 0 0 0 0 0 0 0 0 0
Market Cap/Sales 0 0 0 0 0 0 0 0 0
200303 200403 200503 200603 200703 200803
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
RATIOS - KEY FINANCIAL RATIOS - Sayaji Iron
199403 199503 199603 199703 199803 199903 200003 200103 200203

Key Ratios
Current Ratio 1.32 1.33 1.51 1.62 1.4 1.34 1.43 1.33 1.19
Turnover Ratios
Fixed Assets 4.95 4.47 3.74 2.36 1.75 1.01 1.4 1.03 1.08
Inventory 3.25 3.68 3.54 2.76 2.92 2.06 2.86 2.07 2.13
Debtors 5.75 5.43 5.57 4.72 4.01 2.34 2.76 2.04 2.64
Interest Cover Ratio 1.81 2.08 3.83 2.02 1.35 0.36 0.85 -0.64 1.13
PBIDTM (%) 11.41 12.1 16.45 14.37 13.63 11.2 12 -2.06 15.15
PBITM (%) 10.41 10.98 15.18 11.41 9.91 4.26 7.57 -7.14 10.99
PBDTM (%) 5.65 6.82 12.49 8.72 6.26 -0.69 3.08 -13.22 5.42
CPM (%) 4.6 5.7 8.95 6.76 5.99 -0.69 3.08 -13.22 4.63
APATM (%) 3.6 4.58 7.68 3.79 2.28 -7.64 -1.35 -18.29 0.47
ROCE (%) 30.03 29.96 32.23 17 13.88 3.77 9.4 0 13.44
RONW (%) 33.68 33.85 29.81 9.34 5.7 -13.58 -3.56 0 1.21
200303 200403 200503 200603 200703 200803
1.22 1.16 0.99 0.56 0.33 0.2

0.48 0.5 0.46 0.37 0.3 0.18
1.32 1.45 1.49 1.72 1.7 1.42
1.14 1.23 1.64 2.08 2.04 1.91

2.2 2.1 3.05 5.01 5.1 4.76
2.84 3.54 5.14 7.23 10.85 14.58
1.22 1.39 1.77 5.38 14.6 15.51
14.07 12.79 9.96 13.18 23.73 19.36
10.08 9.28 7.18 11.41 21.99 16.93
5.84 6.13 5.9 11.05 22.22 18.27
4.99 5.02 4.55 9.68 14.29 11.75
1 1.51 1.77 7.92 12.55 9.32
12.33 12.62 14.52 33.77 62.51 45.52
2.2 3.74 6.37 35.5 47.39 30.05
FINANCE -CASH FLOW - Sayaji Iron (Curr: Rs in Cr.)
199503 199603 199803 199903 200003 200103

Cash Flow Summary
Net Cash from Operating Activities 1.1 -1.06 1.84 -0.36 -0.5 1.14
Net Cash Used in Investing Activities -1.45 -5.16 -4.53 -0.22 1.82 -0.36
Net Cash Used in Financing Activities 1.62 6.21 2.38 0.76 -1.84 -0.96
Net Inc/(Dec) in Cash and Cash Equivalent 1.27 -0.01 -0.31 0.18 -0.52 -0.18
200203 200303 200403 200503 200603 200703 200803
0.25 0.44 0.81 0.53 0.64 0.79 4.7

0.45 0.29 0.85 3.23 5.95 10.13 6.02
0.56 -0.24 -0.43 -2.31 -2.15 -8.13 -4.82
-0.82 0.32 -0.7 -0.81 -3.65 1.91 -3.57
0.19 0.37 -0.28 0.11 0.15 3.91 -2.37
0.44 0.81 0.53 0.64 0.79 4.7 2.33
FINANCE -FUNDS FLOW - Actual - Sayaji Iron (Curr: Rs in Cr.)
199403 199503 199603 199703 199803 199903 200003 200103 200203

Sources of funds
Cash profit 0.83 1.93 3.08 2.49 2.39 0.38 0 0 0.56

Increase in equity 0.87 0.95 1.63 0.07 0.01 0 0 0 0
Increase in other networth 0 0 4.2 0.18 0 0 0 0 1
Increase in loan funds 1.32 0.36 1.77 0.73 2.91 1.09 0 0 0
Decrease in gross block 0 0 0 0 0 0 3.83 0 1.51
Decrease in investments 0 0 0 0 0 0 0 0.05 0
Decrease in working capital 0 0 0 0.79 0.15 0 0 3.72 0
Others 0 0 0.13 0.14 0.17 0 0 0 0
Total Inflow 3.02 3.24 10.81 4.4 5.63 1.47 3.83 3.77 3.07
Cash loss 0 0 0 0 0 0 0.63 1.9 0

Decrease in networth 0.87 0.1 0 0 0.01 0 0 0 0
Decrease in loan funds 0 0 0 0 0 0 1.83 0.96 0.83
Increase in gross block 0.26 2.01 4.11 3.31 4.7 0.12 0 0.31 0
Increase in investments 0.06 0 0 0 0 0 0 0 0
Increase in working capital 1.32 0.65 5.42 0 0 0.76 0.78 0 0.2
Dividend 0.17 0.38 0.68 0.5 0.32 0 0 0 0
Others 0.34 0.1 0.6 0.59 0.6 0.59 0.59 0.6 2.04
Total Outflow 3.02 3.24 10.81 4.4 5.63 1.47 3.83 3.77 3.07
200303 200403 200503 200603 200703 200803
1.57 1.54 1.45 3.93 6.81 6.84

0 0 0 0 0 0
0 0.01 0.08 0 0 0
0.33 0 0 0 1.91 0
0 0 0 0 0 0
0 0 0 0 0 0.88
0 0 1.23 1.57 0 2.77
0.36 0.36 0.37 0.36 0 0
2.26 1.91 3.13 5.86 8.72 10.49
0 0 0 0 0 0
0 0 0.06 0.07 0.16 0.2
0 0.7 0.83 3.65 0 3.57
0.21 0.25 2.24 1.36 6.18 5.55
0 0.01 0 0.31 1.26 0
1.45 0.39 0 0 0.11 0
0 0 0 0.47 1.01 1.17
0.6 0.56 0 0 0 0
2.26 1.91 3.13 5.86 8.72 10.49
FINANCE -PROFIT AND LOSS - Sayaji Iron (Curr: Rs in Cr.)
199303 (12) 199403 (12) 199503 (12) 199603 (12)

INCOME :
Sales Turnover 15.42 18.06 21.41 28.26
Excise Duty 0 0 0 0
Net Sales 15.42 18.06 21.41 28.26
Other Income 0.03 0.04 0.03 0.17
Stock Adjustments 1.12 -0.47 0.32 1.98
Total Income 16.57 17.63 21.76 30.41
EXPENDITURE :
Raw Materials 10.37 10.1 12.76 17.86
Power & Fuel Cost 0.18 0.21 0.25 0.28
Employee Cost 3.17 3.57 3.8 4.58

Interest 1.02 1.04 1.13 1.12
Gross Profit 0.58 1.02 1.46 3.53
Depreciation 0.11 0.18 0.24 0.36
Tax 0.27 0.19 0.24 1
Extraordinary Items 0 0 0 -0.01

P & L Balance brought forward 0 0 0 0.11
P & L Balance carried down 0 0 0.1 0.1
Dividend 0.09 0.17 0.38 0.68

Earnings Per Share-Unit Curr 4.65 5 4.36 5.59

199803 (12) 199903 (12) 200003 (12) 200103 (12) 200203 (12) 200303 (12) 200403 (12) 200503 (12)
29.87 20.17 26.01 17.93 19.01 20.04 22.52 32.73

0 0 0 0 0 0 0 0
29.87 20.17 26.01 17.93 19.01 20.04 22.52 32.73
0.11 0.22 0.07 0.12 0.2 0.17 0.09 0.11
0.37 -0.69 -1.34 1.29 0.36 0.25 2.49 -3.43
30.35 19.7 24.74 19.34 19.57 20.46 25.1 29.41
17.55 9.26 13.15 11.63 10.64 11.53 15.52 19.04

0.37 0.41 0.48 0.49 0.35 0.38 0.43 0.49
5.23 5.12 5.47 5.14 3.56 3.63 3.95 4.12
0.23 0.18 0.16 0.15 0.11 0.1 0.14 0.2
2.4 2.17 2.1 2.11 1.5 1.35 1.47 1.64
0.5 0.3 1.36 0.19 0.6 0.65 0.77 0.66
0 0 0 0 0 0 0 0
26.28 17.44 22.72 19.71 16.76 17.64 22.28 26.15
4.07 2.26 2.02 -0.37 2.81 2.82 2.82 3.26

2.2 2.4 2.32 2 1.85 1.65 1.5 1.33
1.87 -0.14 -0.3 -2.37 0.96 1.17 1.32 1.93
1.11 1.4 1.15 0.91 0.79 0.8 0.79 0.91
0.76 -1.54 -1.45 -3.28 0.17 0.37 0.53 1.02
0.08 0 0 0 0.01 0.03 0.04 0.08
0 0 0 0 0 0 0 0
0 0 0 0 0.1 0.14 0.19 0.36
0.68 -1.54 -1.45 -3.28 0.06 0.2 0.3 0.58
0.01 -0.02 -1.1 0.01 -0.03 0 -0.04 -0.02
0.67 -1.52 -0.35 -3.29 0.09 0.2 0.34 0.6
0 0 0 0 1 0 0 0
0.41 0 0 0 -3.25 -2.19 -1.99 -1.69
0 0 0 0 0 0 0 0
1.09 -1.54 -1.45 -0.03 0 0 0 0
0 0 0 -3.25 -2.19 -1.99 -1.69 -1.11
0.32 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
8 0 0 0 0 0 0 0
1.64 0 0 0 0.15 0.51 0.76 1.49

30.58 26.69 23.03 14.75 17.42 17.93 18.71 20.54
200603 (12) 200703 (12) 200803 (12)
45.23 51.79 59.55

0 0 0
45.23 51.79 59.55
0.19 0.33 1.02
-1.53 1.81 2.93
43.89 53.93 63.5
26.57 32.23 40.27

0.54 0.66 0.67
4.58 4.87 5.32
0.38 0.6 0.82
2.06 2.13 4.22
3.8 1.15 0.67
0 0 0
37.93 41.64 51.97
5.96 12.29 11.53

0.96 0.78 0.65
5 11.51 10.88
0.8 0.9 1.45
4.2 10.61 9.43
0.3 2.66 2.17
0.05 0.06 0.04
0.27 1.39 1.67
3.58 6.5 5.55
-0.04 -0.1 0.01
3.62 6.6 5.54
0 0 0
-1.11 1.03 1.26
0 0 0
1.44 6.27 5.37
1.03 1.26 1.44
0.47 1.01 1.17

0 0 0
12 26 30
9 16.26 13.72
28.33 42 52.72
FINANCE -BALANCE SHEET - Sayaji Iron (Curr: Rs in Cr.)
199303 199403 199503 199603 199803 199903 200003

SOURCES OF FUNDS :
Share Capital 0.43 1.3 2.25 3.88 3.96 3.96 3.96
Reserves Total 1.26 0.87 8.92 14.01 13.91 11.78 9.74
Secured Loans 2.9 3.94 4.4 6.49 7.86 10.3 8.73
Unsecured Loans 0.94 1.22 1.12 0.8 3.07 1.72 1.46
Total Debt 3.84 5.16 5.52 7.29 10.93 12.02 10.19
Gross Block 3.52 3.78 13.34 16.29 25.46 25.58 21.43
Net Block 1.11 1.19 9.8 11.84 17.87 16.07 11.1
Capital Work in Progress 0 0 0 1.16 0 0 0.32
Investments 0 0.06 0.06 0.06 0.06 0.06 0.06
Inventories 5.73 5.37 6.28 9.68 9.83 9.71 8.46
Sundry Debtors 2.82 3.46 4.43 5.71 8.76 8.47 10.38
Cash and Bank 0.12 0.09 1.36 1.34 0.77 0.95 0.44
Provisions 0.34 0.18 0.38 0.68 0.49 0.07 0
Miscellaneous Expenses not written off 0 0.34 0.44 0.31 0 0 0
Total Assets 5.53 7.33 16.69 25.18 28.8 27.76 23.89

200103 200203 200303 200403 200503 200603 200703 200803
3.96 3.96 3.96 3.96 3.9 3.9 3.9 3.9

5.86 6.33 5.93 5.68 6.34 9.38 14.71 18.89
9.82 10.29 9.89 9.64 10.24 13.28 18.61 22.79
7.81 6.7 6.52 5.39 4.82 1.18 3.04 0.24
1.42 1.7 2.21 2.64 2.38 2.37 2.42 1.65
9.23 8.4 8.73 8.03 7.2 3.55 5.46 1.89
19.05 18.69 18.62 17.67 17.44 16.83 24.07 24.68
22.06 20.55 20.76 21.01 23.25 24.61 30.51 36.34

11.71 12.21 13.58 14.82 15.69 16.04 16.35 17.64
0 0 0 0 0 0 0 0
10.35 8.34 7.18 6.19 7.56 8.57 14.16 18.7
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0.28 0
0.01 0.01 0.01 0.02 0.02 0.33 1.59 0.71
8.88 8.94 9.29 12.18 9.29 8.75 11.56 13.47

7.22 7.18 6.95 5.77 6.96 5.55 4 4.17
0.25 0.44 0.81 0.53 0.64 0.79 4.7 2.33
0.69 0.31 0.29 0.19 0.22 0.39 0.36 0.82
17.04 16.87 17.34 18.67 17.11 15.48 20.62 20.79
8.32 8.77 7.72 8.5 7.81 7.45 10.65 12.16

0.03 0.1 0.03 0 0 0.03 0.47 0.23
8.35 8.87 7.75 8.5 7.81 7.48 11.12 12.39
8.69 8 9.59 10.17 9.3 8 9.5 8.4
0 1.45 1.09 0.73 0.36 0 0 0
0 0.89 0.75 0.56 0.2 0.25 0.24 0.32
0 0 0 0 0 0.32 1.7 3.45
0 0.89 0.75 0.56 0.2 -0.07 -1.46 -3.13
19.05 18.69 18.62 17.67 17.44 16.83 24.07 24.68
0.23 0.22 0.24 0.33 0.22 0.3 0.31 0.23

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FINANCE -FUNDS FLOW - Actual - Vikram Projects (Curr: Rs in Cr.

199103 199203 199303 199406 199506 199606

Cash profit 0.95 1.37 1.42 2.82 4.54 0.38

199103 (12) 199203 (12) 199303 (12) 199406 (15)

Total Income 24.4 33.55 35.19 51.42

Total Expenditure 22.76 31.13 32.11 47.17

Operating Profit 1.64 2.42 3.08 4.25

Adjst. below Net Profit 0 0 0 0

Dividend 0.16 0.46 0.69 0.89

Earnings Per Share-Unit Curr 9.5 3.76 3.83 2.13

199103 199203 199303 199406 199506 199606

Total Liabilities 3.03 8.62 12.79 37.76 49.12 49.44

Total Assets 3.03 8.62 12.79 37.76 49.12 49.44

Contingent Liabilities 6.05 8.72 9.78 11.45 34.9 23.88

Product Name Product Code Year Unit of Measurement % of STO

199903 200003 200203 200303 200403 200503

199903 200003 200203 200303 200403 200503

199903 200003 200203 200303 200403 200503

Cash loss 11.55 14.87 7.81 1.03 0.38 52.62

199903 (12) 200003 (12) 200203 (12) 200303 (12)

Total Income 5.09 0.28 0.39 0.01

Total Expenditure 28.83 2.39 2.85 0.45

Operating Profit -23.74 -2.11 -2.46 -0.44

Adjst. below Net Profit 0 0 0 0

Earnings Per Share-Unit Curr 0 0 0 0

199903 200003 200203 200303 200403 200503

Total Liabilities 47.15 37.89 90.75 78.48 95.84 0.89

Total Assets 47.15 37.89 90.75 78.48 95.84 0.89

Contingent Liabilities 1.51 0.38 0.38 133.38 139.41 139.56

Product Name Product Code Year Unit of Measurement Product Quantity

Product Name Product Code Year Unit of Measurement % of STO

199303 199403 199503 199603

199303 199403 199503 199603

199303 199403 199503 199603

Cash profit 0.29 1.01 2.39 5.01

Product Name Product Code Year Unit of Measurement Product Quantity

Product Name Product Code Year Unit of Measurement % of STO

199503 199603 199703 199803 199903 200003 200103 200203 200303

199503 199603 199703 199803 199903 200003 200103 200203 200303

21.29 0 0 0 5.81 0.1

1.38 2.8 4.27 6.79 23.11 16.66

199803 199903 200003 200103 200203 200303

3.17 3.44 2.26 4.38 5.53 25.63

199503 199603 199703 199803 199903 200003 200103 200203 200303

Cash profit 11.27 13.92 6.84 9.72 9.76 4.68 0 0 1.22

Cash loss 0 0 0 0 0 0 10.19 13.15 0

0 0 0 3.39 12.84 21.14

7.95 7.8 17.65 0 0 0

199503 (12) 199603 (12) 199703 (12) 199803 (12)

Total Income 162.6 190.03 196.38 214.03

Total Expenditure 147.19 170.41 178.74 195.1

Operating Profit 15.41 19.62 17.64 18.93

Adjst. below Net Profit 0 -0.38 0 1.19

Dividend 2.07 2.17 1.08 1.09

Earnings Per Share-Unit Curr 6.81 8.01 2.83 4.12

209.14 187.72 207.7 136.81 121.99 74.75 149.17 229.13

218.77 201.43 202.58 137.4 114.61 73.02 152.05 244.9

202.02 190.75 203.55 148.07 99.92 69.48 148.51 249.66

16.75 10.68 -0.97 -10.67 14.69 3.54 3.54 -4.76

0 0 0 -1.47 -0.97 -5.71 -0.76 0

216.29 264.59 453.11

288.54 267.38 460.44

279.69 247.15 424.99