Balance Sheet Year 2008 Year 2009

Liabilitiy side
ordinary shares of Rs 10 each 9,500,000 9,500,000
preference shares of Rs 10 each 500,000 500,000
Authorised capital 10,000,000 10,000,000
Issued, subscribed and paid up capital 2,535,412 3,042,494
Reserves 27,595,698 17,401,220
Accumulated profit / (loss) -50,853 474,728
CAPITAL AND RESERVES 30,080,257 20,918,442
Long term finances 8,411,051 4,375,837
Liabilities against assets subject to finance lease 0 0
Long term deposits 73,890 73,765
Retirement and other benefits 54,018 78,622
Deferred taxation 1,319,000 1,441,576
NON-CURRENT LIABILITIES 9,857,959 5,969,800
Trade and other payables 1,370,336 1,435,420
Accrued markup 364,664 531,772
Short term borrowing - secured 7,597,020 9,068,575
Current portion of non - current liabilities 2,687,608 4,763,942
Provision for taxation 35,090 35,090
CURRENT LIABILITIES 12,054,718 15,834,799
51,992,934 42,723,041

Asset Side
Year 2008 Year 2009
Property, plant and equipment 22,977,894 24,345,793
Assets subject to finance lease 5,135 0
Capital work in progress 2,488,307 1,750,208
Investments 6,795,961 3,172,508
Long term loans, advances and deposits 523,046 166,940
NON-CURRENT ASSETS 32,790,343 29,435,449
Stores, spares and loose tools 2,299,250 2,935,880
Stock-in-trade 445,856 899,836
Trade debts 366,173 513,966
Investments 15,082,582 7,785,968
Advances, deposits, prepayments and other receivable 782,358 908,100
Cash and bank balances 226,372 243,842
CURRENT ASSETS 19,202,591 13,287,592
51,992,934 42,723,041

Profit & Loss Account Year 2008 Year 2009

Sales - net 12,445,996 18,038,209
Cost of sales 12,358,479 10,530,723
Gross profit 1,915,273 5,679,730
Administrative expenses 111,658 141,852
Selling and distribution expenses 561,465 1,871,517
Other operating expenses 581,913 795,854
Other operating income 847,344 770,137
Impairment on investment 0 257,386
Profit from operations 1,507,581 3,383,258
Finance cost 1,749,837 2,606,358
Share of loss of associated company 8,674 0
Profit / (loss) before tax -250,930 776,900
Taxation 197,700 251,319
Profit / (loss) for the year -53,230 525,581
Earnings / (loss) per share - basic and diluted -0.21 1.96

Cash Flow Statement Year 2008 Year 2009

Cash generated from operations 1,263,660 3,829,987
Finance cost paid 1,727,177 2,439,250
Retirement and other benefits paid 5,054 6,934
Taxes paid 135,780 235,684
Net decrease in long term deposits 5,577 -125
Net cash generated from / (used in) operating activitie -609,928 1,147,994
Purchase of property, plant and equipment 2,698,370 1,995,630
Purchase of investments 188,339 38,878
Net decrease / (increase) in long term loans, advances -325,502 356,106
Sales proceeds of property, plant and equipment 26,655 4,076
Dividend received 820,435 707,242
Interest received 8,333 42,205
Net cash used in investing activities 2,356,788 924,879
Proceeds from issuance of share capital 0 1,014,164
Proceeds from long term finances 3,000,000 300,000
Repayment of long term finances 3,178,083 2,989,690
Repayment of liabilities against assets subject to finan 19,957 1,141
Dividend paid 379,093 533
Net cash used in financing activities 577,133 1,677,200
Net decrease in cash and cash equivalents 3,543,849 1,454,085
Cash and cash equivalents at the beginning of year 3,826,799 7,370,648
Cash and cash equivalents at the end of year 7,370,648 8,824,733
Year 2010

9,500,000
500,000
10,000,000
3,650,993
22,160,477
707,750
26,519,220
5,089,507
0
81,138
104,029
1,465,960
6,740,634
1,679,749
346,425
9,585,642
2,139,283
35,090
13,786,189
47,046,043

Year 2010
25,307,302
0
465,650
4,696,922
158,677
30,628,551
3,017,742
1,036,876
303,949
10,740,972
1,087,161
230,792
16,417,492
47,046,043

Year 2010
16,275,354
13,569,994
2,705,360
172,436
 994,418
189,015
911,672
0

2,261,163
1,902,760
358,403
125,381
233,022
0.72

Year 2010
3,194,599
2,088,107
11,368
260,492
7,373
842,005
1,079,494
249,445
8,489
16,785
766,398
2,555
534,712
1,216,998
3,050,000
5,104,383
0
25
837,410
530,117
8,824,733
9,354,850