Equity Analysis

Particulars(INCOME)	Sep 2005 ( Cr)	Sep 2004 ( Cr)	Sep 2003 ( Cr)	Sep 2002 ( Cr)	Sep 2001 ( Cr)	Sep 2000 ( Cr)
Sales Turnover	6.13	44.59	90.62	110.04	81.59	84.81
Excise Duty	0.90	6.22	12.29	14.71	11.25	11.95
Net Sales	5.23	38.37	78.33	95.33	70.34	72.86
Other Income	0.45	3.50	2.11	4.51	0.26	0.76
Stock Adjustments	-5.22	1.07	3.43	-0.71	-0.24	1.02
Total Income	0.46	42.94	83.87	99.13	70.36	74.64
EXPENDITURE :
Raw Materials	0.16	21.57	34.12	35.17	30.75	34.37
Power & Fuel Cost	0.56	19.12	25.81	22.03	21.10	25.49
Employee Cost	1.37	3.83	3.88	3.90	3.35	3.49
Other Manufacturing Expenses	0.43	4.62	5.57	6.03	5.37	5.30
Selling & Administrative Expenses	0.42	1.66	1.00	1.26	1.30	1.56
Miscellaneous Expenses	1.65	2.99	2.41	5.38	3.05	3.43
Less : Pre-operative Expenses Capitalised	0.00	0.00	0.00	0.00	0.00	0.00
Total Expenditure	4.59	53.79	72.79	73.77	64.92	73.64
Operating Profit	-4.13	-10.85	11.08	25.36	5.44	1.00
Interest	6.58	7.49	7.50	10.75	10.71	14.26
Gross Profit	-10.71	-18.34	3.58	14.61	-5.27	-13.26
Depreciation	0.19	9.96	9.75	9.88	9.01	9.80
Profit Before Tax	-10.90	-28.30	-6.17	4.73	-14.28	-23.06
Tax	0.00	0.00	0.00	0.00	0.00	0.00
Fringe Benefit tax	0.01	0.00	0.00	0.00	0.00	0.00
Deferred Tax	0.00	0.00	0.00	-2.05	0.00	0.00
Reported Net Profit	-10.91	-28.30	-6.17	6.78	-14.28	-23.06
Extraordinary Items	-0.32	3.08	1.31	3.74	-0.09	-0.08
Adjusted Net Profit	-10.59	-31.38	-7.48	3.04	-14.19	-22.98
Adjustment below Net Profit	0.00	-7.52	0.00	5.47	0.00	0.00
P & L Balance brought forward	-131.53	-95.71	-89.54	-95.01	-80.73	-57.67
Statutory Appropriations	0.00	0.00	0.00	0.00	0.00	0.00
Appropriations	0.00	0.00	0.00	6.78	0.00	0.00
P & L Balance carried down	-142.44	-131.53	-95.71	-89.54	-95.01	-80.73
Dividend	0.00	0.00	0.00	0.00	0.00	0.00
Preference Dividend	0.00	0.00	0.00	0.00	0.00	0.00
Equity Dividend %	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Per Share(Rs)	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Per Share-Unit Curr	0.00	0.00	0.00	1.08	0.00	0.00
Earnings Per Share(Adj)-Unit Curr	0.00	0.00	0.00	1.08	0.00	0.00
Book Value-Unit Curr	-5.97	-3.98	1.98	2.88	1.16	3.49
Book Value(Adj)-Unit Curr	-5.97	-3.98	1.98	2.88	1.16	3.49