BALANCE SHEET OF VERTICAL METHOD

Jun '04 %jun 04 Jun '05 %jun 05 Jun '06 %jun 06 Jun '07

Sources Of Funds
Total Share Capital 59.22 2.478405 63.84 2.157989 64.69 2.497124 132.74
Equity Share Capital 59.22 2.478405 63.84 2.157989 64.69 2.497124 132.74
Share Application Money 0.03 0.001256 1.64 0.055437 1.33 0.05134 0
Preference Share Capital 0 0 0 0 0 0 0
Reserves 2,231.96 93.40933 2,796.14 94.51815 2,511.18 96.93505 3,292.28
Revaluation Reserves 0 0 0 0 0 0 0
Networth(A) 2,291.21 95.88899 2,861.62 96.73158 2,577.20 99.48351 3,425.02
Secured Loans 97.9 4.097194 96.42 3.259293 13.17 0.50838 40.77
Unsecured Loans 0.33 0.013811 0.27 0.009127 0.21 0.008106 0.12
Total Debt(B) 98.23 4.111005 96.69 3.26842 13.38 0.516487 40.89
Total Liabilities(A+B) 2,389.44 100 2,958.31 100 2,590.58 100 3,465.91

Application Of Funds
Gross Block 412.32 17.25593 632.06 123.66 1,014.08 108.46 1,332.67
Less: Accum. Depreciation 207.04 8.664792 272.11 156.45 488.4 244.10 662.58
Net Block 205.28 8.591134 359.95 52.54 525.68 46.31 670.09
Capital Work in Progress 118.63 4.964762 71.78 -56.04 163.63 -2,521.26 212.86
Investments 2,250.36 94.17939 2,654.66 0.00 1,907.76 0.00 1,988.86
TOTAL(A) 2,574.27 107.7353 3,086.39 104.33 2,597.07 100.25 2,871.81
Inventories 0 0 0 0 0
Sundry Debtors 168.59 7.055628 306.41 59.94991 645.98 69.09 712.48
Cash and Bank Balance 61.24 2.562944 81.14 46.65095 104.51 52.23 105.93
Total Current Assets 229.83 9.618572 387.55 56.57334 750.49 66.12 818.41
Loans and Advances 154.36 6.460091 166.02 -129.6221 376.41 -5,799.85 934.44
Fixed Deposits 11.54 0.482958 3.39 0 1.71 0.00 275.01
Total CA, Loans & Advances(B) 395.73 16.56162 556.96 18.82697 1,128.61 43.57 2,027.86
Deffered Credit 0 0 0 0
Current Liabilities 426.29 73.42738 511.11 293.8596 935.02 467.3231 1,003.02
Provisions 154.27 26.57262 173.93 25.38976 200.08 17.62664 430.74
Total CL & Provisions 580.56 100 685.04 100 1,135.10 100.00 1,433.76
Net Current Assets -184.83 -128.08 -6.49 594.1
Miscellaneous Expenses 0 0 0 0
Total Assets 2,389.44 100.00 2,958.31 100.00 2,590.58 100.00 3,465.91
%jun 07 Jun '08 %jun 08

3.829874 133.27 4.113068

3.829874 133.27 4.113068
0 1.71 0.052775
0 0 0
94.99035 3,079.85 95.0524
0 0 0
98.82022 3,214.83 99.21825
1.176314 25.24 0.778974
0.003462 0.09 0.002778
1.179777 25.33 0.781752
100 3,240.16 100

132.87 1,599.61 87.46535

153.82 874.32 120.8392
46.74 725.29 28.41611
35.83 419.03 140.3786
0.00 1,797.34 0
82.86 2,941.66 90.78749
0
71.03 980.02 53.59
24.59 162.87 22.51
57.08 1,142.89 44.78
157.29 1,183.99 396.65
0.00 524.01 0.00
58.51 2,850.89 87.99
0
232.8597 1,828.85 252.7642
30.04268 723.54 28.34755
100.00 2,552.39 100.00
298.5
0
100.00 3,240.16 100.00
 BALANCE SHEET OF HORIZONTAL METHOD
Jun '04 Jun '05 Jun '06 Jun '07 Jun '08 2004-05

Sources Of Funds
Total Share Capital 59.22 63.84 64.69 132.74 133.27 0.53
Equity Share Capital 59.22 63.84 64.69 132.74 133.27 0.53
Share Application Money 0.03 1.64 1.33 0 1.71 1.71
Preference Share Capital 0 0 0 0 0 0
Reserves 2,231.96 2,796.14 2,511.18 3,292.28 3,079.85 -212.43
Revaluation Reserves 0 0 0 0 0 0
Networth 2,291.21 2,861.62 2,577.20 3,425.02 3,214.83 -210.19
Secured Loans 97.9 96.42 13.17 40.77 25.24 -15.53
Unsecured Loans 0.33 0.27 0.21 0.12 0.09 -0.03
Total Debt 98.23 96.69 13.38 40.89 25.33 -15.56
Total Liabilities 2,389.44 2,958.31 2,590.58 3,465.91 3,240.16 -225.75

Application Of Funds
Gross Block 412.32 632.06 1,014.08 1,332.67 1,599.61 266.94
Less: Accum. Depreciation 207.04 272.11 488.4 662.58 874.32 211.74
Net Block 205.28 359.95 525.68 670.09 725.29 55.2
Capital Work in Progress 118.63 71.78 163.63 212.86 419.03 206.17
Investments 2,250.36 2,654.66 1,907.76 1,988.86 1,797.34 -191.52
Inventories 0 0 0 0 0 0
Sundry Debtors 168.59 306.41 645.98 712.48 980.02 267.54
Cash and Bank Balance 61.24 81.14 104.51 105.93 162.87 56.94
Total Current Assets 229.83 387.55 750.49 818.41 1,142.89 324.48
Loans and Advances 154.36 166.02 376.41 934.44 1,183.99 249.55
Fixed Deposits 11.54 3.39 1.71 275.01 524.01 249
Total CA, Loans & Advances 395.73 556.96 1,128.61 2,027.86 2,850.89 823.03
Deffered Credit 0 0 0 0 0 0
Current Liabilities 426.29 511.11 935.02 1,003.02 1,828.85 825.83
Provisions 154.27 173.93 200.08 430.74 723.54 292.8
Total CL & Provisions 580.56 685.04 1,135.10 1,433.76 2,552.39 1118.63
Net Current Assets -184.83 -128.08 -6.49 594.1 298.5 -295.6
Miscellaneous Expenses 0 0 0 0 0 0
Total Assets 2,389.44 2,958.31 2,590.58 3,465.91 3,240.16 -225.75
ET OF HORIZONTAL METHOD
2005-06 2006-07 2007-08 % 2004-05 %2005-06 %2006-07 %2007-08

-132.74 -133.27 -0.53 0.3992768 -0.2995999 56.52828 14157.668289

-132.74 -133.27 -0.53 0.3992768 -0.2995999 56.52828 14157.668289
0 -1.71 -1.71 0 0 0
0 0 0
-3292.28 -3079.85 212.43 -6.4523674 0.20950265 0.098622 -1.528461788
0 0 0
-3,425.02 -3214.83 210.19 -6.1368985 0.19089341 0.090819 -1.47989171
-40.77 -25.24 15.53 -38.091734 150.918122 971.7844 -2551.168792
-0.12 -0.09 0.03 -25 27777.7778 92592593 -370370370.4
-40.89 -25.33 15.56 -38.053314 150.230216 965.4898 -2537.203008
-3,465.91 -3240.16 225.75 -6.5134409 0.2010222 0.089046 -1.367117318

-1,332.67 -1,599.61 -266.94 20.030465 -1.2522093 0.469098 2.3419209594

-662.58 -874.32 -211.74 31.956896 -3.65505716 1.726201 5.4016529559
-670.09 -725.29 -55.20 8.2376994 -1.13578009 2.057573 24.977515241
-212.86 -419.03 -206.17 96.857089 -23.1145954 11.21143 11.575224215
-1,988.86 -1,797.34 191.52 -9.6296371 0.53577159 0.279747 -2.905063483
0.00 0.00
-712.48 -980.02 -267.54 37.550528 -3.83160831 1.432163 3.8139617965
-105.93 -162.87 -56.94 53.752478 -33.0033021 57.96154 107.83045576
-818.41 -1,142.89 -324.48 39.647609 -3.46906609 1.069116 2.6965447623
-934.44 -1,183.99 -249.55 26.705835 -2.2555794 0.903859 3.3844990104
-275.01 -524.01 -249 90.542162 -17.2787088 6.93924 7.6640985039
-2,027.86 -2,850.89 -823.03 40.586135 -1.42363034 0.172974 0.4261906067
0.00 0.00 0.00
-1,003.02 -1,828.85 -825.83 82.33435 -4.50197393 0.545145 0.6621116933
-430.74 -723.54 -292.80 67.976041 -9.39492512 3.208649 4.7202650115
-1,433.76 -2,552.39 -1,118.63 78.020729 -3.05677145 0.27326 0.3502406122
-594.1 -298.5 295.60 -49.755933 16.6686544 5.638922 -11.3331656
0.00
-3,465.91 -3,240.16 225.75 -6.5134409 0.2010222 0.089046 -1.367117318
 ------------------- in Rs. Cr. ------------------- Profit & Loss account HORIZANTAL

Jun '04 Jun '05 Jun '06 Jun '07 Jun '08 2004-05
Income
Sales Turnover 1,127.98 1,447.01 3,032.92 3,768.62 4,615.39 846.77
Excise Duty 0 0 0 0 0 0.00
Net Sales 1,127.98 1,447.01 3,032.92 3,768.62 4,615.39 846.77
Other Income 126.21 61.54 0.68 439.42 -108.91 -548.33
Stock Adjustments 0 0 0 0 0 0.00
Total Income 1,254.19 1,508.55 3,033.60 4,208.04 4,506.48 298.44
Expenditure 0.00
Raw Materials 0 0 0 0 0 0.00
Power & Fuel Cost 0 0 0 0 0 0.00
Employee Cost 362.39 488.54 1,123.51 1,322.59 1,621.35 298.76
Other Manufacturing Expenses 249.77 304.93 476.97 577.24 746.92 169.68
Selling and Admin Expenses 186.74 216.75 412.73 617.2 639.05 21.85
Miscellaneous Expenses 44.15 80.26 209.95 314.51 381.11 66.60
Preoperative Exp Capitalised 0 0 0 0 0 0.00
Total Expenses 843.05 1,090.48 2,223.16 2,831.54 3,388.43 556.89
Operating Profit 284.93 356.53 809.76 937.08 1,226.96 71.6

PBDIT 411.14 418.07 810.44 1,376.50 1,118.05 -258.45

Interest 12.22 11.58 17.81 20.6 24.93 4.33
PBDT 398.92 406.49 792.63 1,355.90 1,093.12 -262.78
Depreciation 56.89 67.56 138.8 178.21 217.87 39.66
Other Written Off 2.5 0 0 0 0 0
Profit Before Tax 339.53 338.93 653.83 1,177.69 875.25 -302.44
Extra-ordinary items 0 2.49 0 0 0 0
PBT (Post Extra-ord Items) 339.53 341.42 653.83 1,177.69 875.25 -302.44
Tax 13.81 12.15 15.45 75.87 94.6 18.73
Reported Net Profit 325.72 329.27 638.38 1,101.82 780.65 -321.17
nt HORIZANTAL

% 2004-05 2005-06 % 2005-06 2006-07 %2006-07 2007-08 %2007-08

22.468967 1,585.91 109.599104 735.70 24.25715 846.77 22.46897

0.00 0 0.00 0 0.00 0
22.468967 1,585.91 109.599104 735.70 24.25715 846.77 22.46897
-124.78494 -60.86 -98.8950276 438.74 64520.59 -548.33 -124.7849
0.00 0 0.00 0 0.00 0
7.0921379 1,525.05 101.093766 1,174.44 38.7144 298.44 7.092138
0.00 0 0.00 0 0.00 0
0.00 0 0.00 0 0.00 0
0.00 0 0.00 0 0.00 0
22.589011 634.97 129.972981 199.08 17.71947 298.76 22.58901
29.395052 172.04 56.4195061 100.27 21.02229 169.68 29.39505
3.5401815 195.98 90.4175317 204.47 49.54086 21.85 3.540181
21.175797 129.69 161.587341 104.56 49.80233 66.60 21.1758
0.00 0 0.00 0 0.00 0
19.667389 1,132.68 103.869855 608.38 27.36555 556.89 19.66739
7.6407564 453.23 127.122542 127.32 15.72318 289.88 30.93439
0.00 0 0.00 0 0.00 0
-18.775881 392.37 93.8527041 566.06 69.84601 -258.45 -18.77588
21.019417 6.23 53.7996546 2.79 15.66536 4.33 21.01942
-19.380485 386.14 94.9937268 563.27 71.06342 -262.78 -19.38049
22.254643 71.24 105.44701 39.41 28.39337 39.66 22.25464
0 0.00 0 0.00 0 0.00 0
-25.680782 314.90 92.9100404 523.86 80.12174 -302.44 -25.68078
-2.49 -100 0.00 0 0.00 0
-25.680782 312.41 91.503134 523.86 80.12174 -302.44 -25.68078
24.686965 3.30 27.1604938 60.42 391.068 18.73 24.68696
-29.149044 309.11 93.8773651 463.44 72.59626 -321.17 -29.14904
 PROFIT AND LOSS VERTICAL METHOD

Jun '04 Jun '05 Jun '06 Jun '07

Income
Sales Turnover 1,127.98 100.00 1,447.01 100.00 3,032.92 100.00 3,768.62
Excise Duty 0 0.00 0 0.00 0 0.00 0
Net Sales 1,127.98 100.00 1,447.01 100.00 3,032.92 100.00 3,768.62
Other Income 126.21 11.19 61.54 4.25 0.68 0.02 439.42
Stock Adjustments 0 0.00 0 0.00 0 0.00 0
Total Income 1,254.19 111.19 1,508.55 104.25 3,033.60 100.02 4,208.04
Expenditure 0.00 0.00 0.00
Raw Materials 0 0.00 0 0.00 0 0.00 0
Power & Fuel Cost 0 0.00 0 0.00 0 0.00 0
Employee Cost 362.39 32.13 488.54 33.76 1,123.51 37.04 1,322.59
Other Manufacturing Expenses 249.77 22.14 304.93 21.07 476.97 15.73 577.24
Selling and Admin Expenses 186.74 16.56 216.75 14.98 412.73 13.61 617.2
Miscellaneous Expenses 44.15 3.91 80.26 5.55 209.95 6.92 314.51
Preoperative Exp Capitalised 0 0.00 0 0.00 0 0.00 0
Total Expenses 843.05 74.74 1,090.48 75.36 2,223.16 73.30 2,831.54
Jun '04 Jun '05 Jun '06 Jun '07
Operating Profit 284.93 25.26 356.53 24.64 809.76 26.70 937.08
PBDIT 411.14 36.45 418.07 28.89 810.44 26.72 1,376.50
Interest 12.22 1.08 11.58 0.80 17.81 0.59 20.6
PBDT 398.92 35.37 406.49 28.09 792.63 26.13 1,355.90
Depreciation 56.89 5.04 67.56 4.67 138.8 4.58 178.21
Other Written Off 2.5 0.22 0 0.00 0 0.00 0
Profit Before Tax 339.53 30.10 338.93 23.42 653.83 21.56 1,177.69
Extra-ordinary items 0 0.00 2.49 0.17 0 0.00 0
PBT (Post Extra-ord Items) 339.53 30.10 341.42 23.59 653.83 21.56 1,177.69
Tax 13.81 1.22 12.15 0.84 15.45 0.51 75.87
Reported Net Profit 325.72 28.88 329.27 22.76 638.38 21.05 1,101.82
Total Value Addition 843.05 74.74 1,090.48 75.36 2,223.16 73.30 2,831.54
Preference Dividend 0 0.00 0 0.00 0 0.00 0
Equity Dividend 295.85 26.23 501.75 34.67 516.1 17.02 525.59
Corporate Dividend Tax 38.21 3.39 68.17 4.71 72.38 2.39 81.6
Per share data (annualised) 0.00 0.00 0.00
Shares in issue (lakhs) 2,960.80 262.49 3,192.15 220.60 3,234.42 106.64 6,636.83
Earning Per Share (Rs) 11 0.98 10.31 0.71 19.74 0.65 16.6
Equity Dividend (%) 500 44.33 800 55.29 800 26.38 400
Book Value (Rs) 77.38 6.86 89.59 6.19 79.64 2.63 51.61
ERTICAL METHOD

Jun '08

100.00 4,615.39 100

0.00 0 0
100.00 4,615.39 100
11.66 -108.91 -2.359714
0.00 0 0
111.66 4,506.48 97.64029
0.00 0
0.00 0 0
0.00 0 0
35.09 1,621.35 35.12921
15.32 746.92 16.18325
16.38 639.05 13.84607
8.35 381.11 8.257374
0.00 0 0
75.13 3,388.43 73.4159
Jun '08
24.87 1,226.96 26.5841
36.53 1,118.05 24.22439
0.55 24.93 0.540149
35.98 1,093.12 23.68424
4.73 217.87 4.720511
0.00 0 0
31.25 875.25 18.96373
0.00 0 0
31.25 875.25 18.96373
2.01 94.6 2.049664
29.24 780.65 16.91406
75.13 3,388.43 73.4159
0.00 0 0
13.95 598.58 12.96922
2.17 101.72 2.203931
0.00 0
176.11 6,663.40 144.3735
0.44 11.72 0.253933
10.61 450 9.749989
1.37 48.22 1.044765
 TREND PERCENTAGE
sales cgs gross profit
rs % rs % rs %
year
2004 1,127.98 100 0 0 406.49 100
2005 1,447.01 128.2833 0 0 792.63 194.9937
2006 3,032.92 268.8807 0 0 1,355.90 333.5629
2007 3,768.62 334.1034 0 0 1,093.12 268.9168
2008 4,615.39 409.173 0 0 1,445.81 355.6816
operating expenses operating profit
rs % rs %

843.05 100 284.93 100

1,090.48 129.3494 356.53 125.129
2,223.16 263.7044 809.76 284.1961
2,831.54 335.8686 937.08 328.8808
3,388.43 401.9252 1,226.96 430.618