KEY OPERATIONAL & FINANCIAL INDICATORS OF THE COMPANY:

  
     
 

BALANCE SHEET

(Rs. in Lakhs)
As on March 31, 2001 2002 2003 2004 2005
 
(Audited)
(Audited)
(Audited)
(Audited)
(Audited)
Fixed Assets          
Gross Fixed Assets 10913 11076 12242 12574 14225
Less : Depriciation 2195 2728 3297 3915 4604
Net Fixed Assets 8718 8348 8945 8659 9621
Capital Work-in-progress 59 29 0 640 694
Fixed Assets 8777 8377 8945 9299 10315
Investments 1 1 1 - -
Total Fixed Assets & Investments 8778 8378 8946 9299 10315
           
Current Assets          
Inventories 1235 1541 2499 2507 2502
Sundry Debtors 1499 763 960 1160 1044
Loans & Advances 168 267 247 378 755
Cash & Bank Balances 270 100 155 273 207
Total Curent Assets 3172 2671 3861 4318 4508
           
Current Liabilities & Provisions          
Current Liabilities & Provisions 714 562 1228 2375 2021
Working capital borrowings 1746 931 1710 714 1859
Total Current Liabilities & Provisions 2460 1493 2938 3088 3880
Net Current Assets 712 1178 923 1229 628
Deffered Tax Assets - - - - 84
Net Tangible Assets 9490 9556 9869 10529 11027
           
Long Term Liabilites          
17% Debentures 630 500 500 - -
Zero Coupon NCDs 0 0 1769 1769 1769
Rupee Term Loans 7142 5757 5456 5257 5687
Interest accured & due 0 1930 177 - -
Unsecured Loans   0 175 - 100
Deffered Tax Liablity - - - 41 -
Total Long Term Liabilities 7772 8187 8077 7067 7556
Net Worth Represented by 1718 1369 1792 3462 3471
Equity Share Capital
Reserves & Surplus		 930
1395		 930
1395		 1080
1475		 1380
2092		 1305
2166
Advance against Share Capital 92 150 0 - -
Less:         -
Misc. expenses not written off 40 30 20 10 -
Accumulated losses 659 1076 743 - -
Total 1718 1369 1792 3462 3471

NOTES

  • The addition to fixed assets to the extent of Rs.1667 lakhs primarily on account of expansion programme undertaken during the FY 2005.
  • Zero Coupon Non Convertible Debentures (ZCNCD) of Rs.1769 lakhs as on March 31, 2004 represent the amount of interest overdue and interest accrued from April 2000 to December 2001 (Rs.1728 lakhs) as also 50% prepayment premium on conversion of FC loans into rupee-loans (Rs.41 lakhs) as approved under the CDR mechanism. These ZCNCDs are redeemable in 12 quarterly instalments commencing from April 1, 2011.
  • Secured loans of Rs.5257 lakhs comprised term loans of Rs.3443 lakhs from IDBI, Rs.31 lakhs from ICICI, Rs.304 lakhs from IDBI Bank, Rs.1345 lakhs from UBI, Rs.417 lakhs from OBC, Rs.97 lakhs from PNB and Hire Purchase loans of Rs.50 lakhs.
  • During FY 2004, 1500000 Cumulative Convertible Preference Shares (CCPS) of Rs 25/- each fully paid up alloted during the year, out of which 1000000 CCPS have been converted into 900,000 Equity Shares of Rs 10/- each at a Premium of Rs 15/- share in two equal instalments on 31/03/04 & 30/03/05
  • The net worth of the company as at March 31, 2005 stood at Rs.3424 lakhs, comprising Equity Preference share capital of Rs.1305 lakhs and reserves and surplus of Rs.31.66 lakhs.
  • The Debt Equity Ratio (DER) reduced from 7.05:1 in FY 2004 to 2.18:1 in FY 2005, due to dencrease in net worth
  • During the year FY 2005, despite the adverse market conditions, the plant operated at optimum capacity and achieved the turnover Rs 24501 lacs and net profit of Rs 18 lacs as against turnover of Rs 20975 lacs and net profit of Rs 1119 lacs during the FY 2004.The margins of the company were adversely affected due to increase in raw material prices without corresponding increase in the selling prices of finished products and also due to commissioning of new polyester yarn capacities in the industry.
  
     
 
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