1.

1 Name and Detail of Company

Its established over 3 decades ago in 1969 by Mr. Mofatraj P. Munot, a first generation entrepreneur. The Group employs over 4,000 people. Kalpataru borrows its name from the ancient Indian mythological tree - the Kalpa-Vriksha -beneath which all wishes are fulfilled. The group's flagship company, Kalpataru Ltd. is a leading real estate developer with premium residential and commercial complexes in Mumbai and Pune. Pioneering the concept of creating lifestyle living, it has built more than 75 landmark edifices in the last 39 years. With a team of 1,000 dedicated, Kalpataru has created an incomparable brand and reputation for itself in the Property Development and Real Estate industry. Its pride at being one of the largest Property Groups in India, with development of over 1.5 Million sq.ft at any point of time. Every Kalpataru project reflects a "no compromise" attitude; one that manifests in the architecture, engineering and construction of every project; from towering structures to expansive complexes, Kalpataru has proven its commitment and expertise in every segment of property development. The residential complexes are replete with landscaped gardens, swimming pools, gymnasium, and squash courts, clubhouses and several innovative amenities. In an age where architecture is mainly utilitarian, Kalpataru endeavors to combine the functional with the aesthetic and maintains the highest standards of quality right down to the last detail. Kalpataru Power Transmission Limited is one of the leading companies in the field of Turnkey projects for EHV Transmission Lines up to and including 800 KV in India and Overseas. As an EPC contractor, scope of work includes design, testing, fabrication, galvanizing of towers and construction activities from survey, civil works/ foundation, erection to stringing and commissioning of EHV lines, besides procurement of items such as conductors, insulators, hardware accessories etc. its also participates in Substation projects on a partnership basis. Its provide EPC services for Distribution Projects of 11/33 kv and also construct cross country Pipelines, besides Telecom Towers.

Located at Gandhinagar Gujarat, in Western India, Kalpataru Power Transmission is a public listed company with a turnover of USD 350 Million (Rs. 17.5 Billion) and annual production of 80,000MTs till 2008-09. The company has a net worth of over USD 200 Million and an order booking of over Rs 30 Billion (USD 600 Million). The company has also attained distinction of crossing the USD 800 Million (Rs. 40 Billion) market capitalizations. On a combined basis (with JMC Projects), the consolidated turnover is poised to cross Rs 32 Billion (USD 640 Million) by March, 2010 It is a part of the diversified Kalpataru Group which has a presence in Real Estate / Property Development, Civil Contracting, International Trading and Consumer Goods & Services. The Kalpataru group holds over 63% of the equity. Kalpataru Power has two large Fabrication Plants with an annual installed capacity of 108,000MTs (with a capacity addition of 24,000MTs in Oct, 2009) one of the largest in the world and is equipped with modern machineries (including 16 CNC machines) and automated temperature controlled Galvanizing Baths, besides its own state-of-the-art Testing Station and R & D Centre. It was the first company in 1994 in the Indian transmission industry to be ISO 9001 certified. About 650,000+MTs of towers and substation structures have already been designed, manufactured and supplied over the last few years of which over 175,000MTs has been exported. Over 250 Tower Tests of 132-500KV have been carried out successfully, including 125 nos. at our own Testing Station, which is one of the largest facilities of its kind in the world. Besides workmen at the plant & construction sites, the Company employs over 1,400 Managers and Staff. Also, a full-fledged Design / Engineering Department with over 35 qualified design engineers using PLS Tower, i-tower, STADD, PLSCADD, BOCAD, AUTOCAD faculties. The Construction division has completed over 8,000+kms of turnkey projects in India for various clients such as the Power Grid Corporation of India and various State Electricity Boards (SEBs) of Gujarat, Karnataka, Maharashtra, Rajasthan, Andhra Pradesh, Rajasthan, Orissa, Tamilnadu, and Madhya Pradesh.

With a strong thrust on overseas markets, the Company is/has already exported Towers or is executing/has completed Turnkey projects in:

Asia Nepal Bangladesh Thailand Indonesia Vietnam Malaysia Philippines

Middle East Iraq Turkey Syria Qatar UAE Kuwait

Africa South Africa Uganda Tanzania Kenya Nigeria Zambia Ethiopia

America USA Canada Mexico Peru

Australia Tasmania

Company ABB SAE Alstom / Cegelec Cobra ETA

Country Italy France Spain UAE

Company Downer Enel Power Sumitomo Electric Siemens

Country Australia Italy Japan

1.2. Detail of Group Companies

Subsidiaries of Kptl
Shree Shubham Logistics Limited:-

Shree Shubham Logistics Limited was incorporated in January, 2007, and subsequently converted into a Public Limited company in April, 2007. SSLL is a subsidiary of Kalpataru Power Transmission Limited (KPTL). KPTL holds around 80% stake in the company. SSLL is created to serve the needs of Agri and Non-Agri Commodity Storage in best Present investment of company in SSLL is Rs. 16 crores in equity shares and Rs. 12.50 crores in preference share capital. SSLL is an 80% subsidiary of our company. Practice ambient and temperature-controlled warehouses across major markets in North, South and West India. The main objectives of SSLL is to offer end-to-end logistics solutions with a panIndia presence, to all the commodity stake holders in the agricultural and non-agricultural segment including, but not limited to warehousing, cold storage services, and third party logistics (3PL), across the country.

Jmc Projects (India) Ltd. (Jmc):-

During reporting period JMC has reported strong consolidated revenue of Rs. 1,311.95 crores (USD 257 million) an annualized rise of 43% as against Rs. 918.47 crores (USD 180 million) in previous reporting period. Profit before tax as well as profit after tax stood at Rs. 52.04 crores and Rs. 36.81 crores as against Rs. 47.51 crores and Rs. 30.57 crores respectively, reflecting a good performance. MC has an order book exceeding Rs. 2,200 crores (USD 432 million). Your company has strengthened JMC in terms of its capital base, business profile (through diversification) and improved financial discipline which will enable the company to achieve rapid growth. The company has invested Rs. 95.30 crores in JMC and hold 53.02% Stake in JMC.

Energy link (India) Ltd (Ell):-

Energy link (India) Ltd. plans to foray into construction of commercial complexes and integrated township targeting middle and upper middle class income households. During reporting period, ELL has entered into MOU, for setting up a Multi Product SEZ with Government of Gujarat during "Vibrant Gujarat", an Investors Meet for Infrastructure development and is in the process of acquiring land near Ahmadabad for the same. Present investment of kptl is ELL is Rs.1 crores in equity shares. ELL is a Wholly Owned Subsidiary of our company.

Amber Real Estate Ltd. (Amber):

Amber Real Estate Ltd. decided to explore opportunity in the field of construction of IT Parks, Software Technology Park etc. that company has 100% stake in Amber, to make an entry by building IT Parks/ Software Technology Parks across the country. Amber is in the initial stage of developing an IT Park in Mumbai. our company has invested Rs. 0.99 crores towards equity capital in this company.

1.3 Activity of Business

The KPTL has undergone activities are as under:-

1.3.1 Conservation of Energy:-

Transmission & Distribution Division:Following measures taken by the Company from time to time. Has helped us maintaining energy consumption at optimum level:

1. Use of Voltage Stabilizer to regulate fluctuations in voltage of the Ahmadabad Electricity Company supply, which helps to reduce energy consumption and eliminates wastage.

2. Installed enough number of Capacitors at Electrical Control Panel Boards to improve the overall power factor.

3. Took PNG Connection, an environment friendly fuel, for galvanizing plant and hot bending machine to conserve the energy.

Total energy cost is less than 1% total turnover, which reflects success of the company's efforts in this direction.

Bio-mass Energy Division:-

The company has diversified into Power Generation using renewable/non conventional energy sources such as agricultural waste State of Rajasthan. The plants uses biomass (mustard crop residue / cotton sticks) and has established infrastructure / logistics enabling it to collect over 75,000 MTs last year. Based on first hand and crop residues (biomass) in the

experience and holding of buffer stocks, the company foresees no biomass collection risks in Ganganagar. Distribution companies of Jaipur, Jodhpur & Ajmer based on the Rajasthan State Policy of Non-Conventional energy. Third party sale to Large Industrial Customer is also permitted as per existing Policy & Regulatory guidelines. The Plant sale will be approx. 90 million units/kwh in 2007-08 to the Rajasthan Grid with timely payments. Besides being environment friendly, the Project is expected to contribute to the prosperity and sustainable development of the region, besides generating local employment opportunities.

1.3.2 Infrastructure Division:Oil and Gas Pipeline Sector:After the Oil & Gas sector has been opened up in India, and the demand of energy per capita has been rising steadily with the growth in economy, the demand of Pipelines for natural gas and petroleum products in India has been witnessing a spurt. The phenomenon has been replicated in many parts of world and as a result, more and more pipelines are being set up in various parts of the world to facilitate transport connectivity between farthest points to the source. Natural gas has emerged as the dominant source of additional energy in world. There exists a huge deficit of natural gas based on current production and demand data in India. According to GAIL (India) Limited, the nodal agency for transportation of natural gas, the demand for natural gas is increasing @12% per annum. Pipeline transports only 25% of petroleum product consumed by Indian industry in spite of being cheaper than Railways and Road transportation. It is estimated that total pipeline network would increase from the present 16,000 km to 40,000 km in the next 3-4 years, total Capital Expenditure required for Oil & Gas Network is estimated around USD 10 billion.

Logistics & Warehousing Business:-

According to industry estimates, storage capacity in the country vis--vis production of vegetables and fruits stands at a meager 12% compared with the international average of 50%. The result: nearly 38% of the perishable goods, such as vegetables and fruits, are lost

owing to lack of cold storage systems and processing facilities. The cumulative loss could be to the tune of Rs. 55,000 crore. Shree Shubham Logistics Limited (SSLL), a subsidiary of Kalpataru Power Transmission Limited is focused in developing Commodity Warehousing Logistics parks in strategic locations in the country. The key objective is to develop multi-function facilities catering to ambient temperature warehousing, cold storage, processing units, auction yard, weigh bridges and other support amenities. By July, 2009, SSLL will have storage capacity of over 1,80,000 MTs as most of its planned warehouses will be operational by that time.

1.3.3 Real Estate Division:Company is looking for certain real estate initiatives directly or indirectly through SPV or Subsidiaries to build up developers capabilities to bid for BOOT/BOOM infrastructure projects in future. The Company has identified two developmental projects for execution under its subsidiaries. One of its wholly owned subsidiary Energy Link (India) Ltd., development of multi product SEZ is proposed over an area of approximately 1,000 hectors (2,600 Acres) in the region called 'Ahmedabad-Dholera Special Investment Region' (SIR), which is about 85 kms away from Ahmedabad. The other project is through wholly owned subsidiary namely Amber Real Estate Ltd. to develop IT Park which is proposed to be developed at Mumbai.

1.4 Organization Chart:Executive Chairman

Executive Director

Management

VP Marketing

VP
Engineering

VP Production

DV General Manager

SR Manager

Construction

VP Finance

Commercial Engineering Quality Control Domestic Fabrication Design Galvanizing Drawing Dispatch Tower Test Tower Testing Raw/Line Material Computer Planning Overseas

Steel & Zinc

Miscellaneous

1.5 Location Chart:-

Kalpataru power transmission limited

Sector 28

GH-6 GH-7

Pethapur

1.6 PLANT LAYOUT

Plant

Administrative Office Security Office

G

DMS Department

Entrance

I D C

Parking Facility

R O A D

Garden

1.7 Board of Directors:POSITION Executive Director Managing Director Dy. Managing Director President (Operations) President (Finance & Administration) President (Engineering & Marketing) President (Pipelines) Company Secretary Mr. Gyan Prakash Mr. Bajarang Ramdharani Mr. B.K. Satish MANAGEMENT BODY Mr. Manish Mohnot Mr. K. V. Mani Mr. Pankaj Sachdeva Mr. Dinesh B. Patel Mr. Kamal K. Jain

1.8 Bankers and Auditors:Bankers:Indian Bank Oriental Bank of Commerce Union Bank of India State Bank of India Exim Bank ICICI Bank Ltd. HDFC Ltd.

Auditors:Mr. Kishan M. Mehta

1.9 Listing on Stock Exchange:Kalpataru Power Transmission Limited is a Public Listed Company with its shares listed. The Mumbai Stock Exchange The National Stock Exchange of India Ltd. ISIN No. (Dematerialized Shares) Code 522287 KALPATPOWR INE220B01014

The Promoter Group:Kalpataru Group holds 63.68% of the equity share capital of the company with the remaining shares held by over 12,000 shareholders.

1.10 Basic Detail of Company:Corporate Office:111, Maker Chambers IV, Nariman Point Mumbai 400 021 India. Tel No.: 91-22-2282 2888 / 2288 4780 Fax No.: 91-22-2204 1548

Factory & Registered Office:Plot No. 101, Part III, G.I.D.C. Estate, Sector 28, Gandhinagar 382 028, Gujarat, India Tel No.: 91-79-2321 1951 / /2321 1955 Fax No.: 91-79-2321 1966 / 68 / 71 Email:kptl@kalpatarupower.com

Website:www.kalpatarupower.com

International Partners:ABB SAE (Italy)

Downers (Australia) Cegelec (France) Cobra (Spain)

Contracts for power utilizing with:EAIS (Turkey) EEPCO (Ethopia) ZESCO (Zambia)

1.11 Power Sector Scenario:The Ministry of Power has set a goal - Mission 2012: Power for All. A comprehensive Blueprint for Power Sector development has been prepared encompassing an integrated strategy for the sector development with objectives of sufficient power to achieve GDP growth rate of 8%, Reliable of power, Quality power, Optimum power cost, and Commercial viability of power industry and Power for all.

Strategies to achieve the objectives:Power Generation Strategy with focus on low cost generation, optimization of capacity utilization, controlling the input cost, optimization of fuel mix, Technology up gradation and utilization of Non Conventional energy sources. Transmission Strategy with focus on development of National Grid including Interstate connections, Technology up gradation & optimization of transmission cost. Distribution strategy to achieve Distribution Reforms with focus on System up gradation, loss reduction, theft control, consumer service orientation, quality power supply commercialization, Decentralized distributed generation and supply for rural areas. Regulation Strategy aimed at protecting Consumer interests and making the sector commercially viable.

Communication Strategy for political consensus with media support to enhance the genera; public awareness.

1.11.1 Overview

The Government of India has an ambitious mission of POWER FOR ALL BY 2012. This mission would require that our installed generation capacity should be at least 2, 00,000 MW by 2012 from the present level of 1, 14,000 MW. To be able to reach this power to the entire country an expansion of the regional transmission network and inter regional capacity to transmit power would be essential. The latter is required because resources are unevenly distributed in the country and power needs to be carried great distances to areas where load centres exist.

Certain provisions in the Electricity Act 2003 such as open access to the transmission and distribution network, recognition of power trading as a distinct activity, the liberal definition of a captive generating plant and provision for supply in rural areas are expected to introduce and encourage competition in the electricity sector. It is expected that all the above measures on the generation, transmission and distribution front would result in formation of a robust electricity grid in the country.

The total Installed generating capacity in the country is over 1.35,000 MW and the total number ot consumers is over 144 million. Apart from an extensive transmission system network at 500 kV HVDC ,400kV 220 kV, 132 kV and 66 kV which has developed to transmit the Power from the generating station to the grid substations, a vast network ot subtransmission in distnbution system has also come up for the utilization of the power by the ultimate consumers.

However, due to lack of adequate investment on T&D works, the T&D losses have been consistently on higher side, and reached to the level of 32.86% in the year 200001.The reduction of these losses was essential to bring economic viability to the State Utilities.

High technical losses in the system are primarily due to inadequate investments over the years for system improvement works, which has resulted in unplanned extensions of the distribution lines, overloading of the system elements like transformers and conductors, and lack of adequate reactive power support.

The commercial losses are mainly due to low metering efficiency, theft & pilferages. This may be eliminated by improving metering efficiency, proper energy accounting & auditing and improved billing & collection efficiency. Fixing of accountability of the personnel / feeder managers may help considerably in reduction of AT&C loss.

With the initiative of the Government of India and of the States, the Accelerated Power Development & Reform Programme (APDRP) was launched in 2001, for the strengthening of Sub Transmission and Distribution network and reduction in AT&C losses.

The main objective of the programme was to bring Aggregate Technical & Commercial (AT&C) losses below 15% in five years in urban and in high-density areas. The APDRP programme is being restructured by the Government of India, so that the desired level of 15% AT&C loss could be achieved by the end of 11th plan.

Rural Electricity involves supply of energy for two types of programmes:

a. Production oriented activities like minor irrigation, rural industries etc.; b. Electrification of villages. While the emphasis is laid on exploration of ground water potential and energisation of pump sets/tube wells, which has a bearing on agricultural production, the accent in respect of areas covered under the Revised Minimum Needs Programme (RMN P), is on village electrification.

1.11.2 Rajiv Gandhi Grameen Vidyutikaran Yojana

Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) was launched in April-05 by merging all ongoing schemes. Under the programmed 90% grant is provided by Govt. of India and 10% as loan by REC to the State Governments. REC is the nodal agency for the programme. The RGGVY aims at:

Electrifying all villages and habitations as per new definition Providing access to electricity to all rural households Providing electricity Connection to Below Poverty Line (BPL) families free of charge

Infrastructure under RGGVY:

Rural Electricity Distribution Backbone (REDB) with 33/11 KV (or 66/11 KV) substation of adequate capacity in blocks where these do not exist.

Village Electrification Infrastructure (VEI) with provision of distribution transformer of appropriate capacity in villages/habitations.

Decentralized Distributed Generation (DDG) Systems based on conventional & non conventional energy sources where grid supply is not feasible or cost-effective.

Size:

India has the fifth largest electricity generation capacity in the world.
o

Low per capita consumption at 631 units; less than half of China.

Transmission & Distribution network of 6.6 million circuit km - the third largest in the world.

Structure:

Majority of Generation, Transmission and Distribution capacities are with either public sector companies or with State Electricity Boards (SEBs).

Private sector participation is increasing especially in Generation and Distribution.

o o

Distribution licenses for several cities are already with the private sector. Three large ultra-mega power projects of 4000MW each have been recently awarded to the private sector on the basis of global tenders.

Policy:

100% FDI permitted in Generation, Transmission & Distribution - the Government is keen to draw private investment into the sector.

Policy framework: Electricity Act 2003 and National Electricity Policy 2005.

Incentives: Income tax holiday for a block of 10 years in the first 15 years of operation; waiver of capital goods' import duties on mega power projects (above 1,000 MW generation capacities).

Independent Regulators: Central Electricity Regulatory Commission for central PSUs and inter-state issues. Each state has its own Electricity Regulatory Commission.

Outlook:

Over 78,000 MW of new generation capacity is planned in the next five years.
o

A corresponding investment is required in Transmission and Distribution networks.

Power costs need to be reduced from the current high of 8-10 cents/unit by a combination of lower AT & C losses, increased generation efficiencies and added low-cost generating capacity.

Potential:

Large demand-supply gap: All India average energy shortfall of 9% and peak demand shortfall of 14%.

The implementation of key reforms is likely to foster growth in all segments.

o o o o

Unbundling of vertically integrated SEBs Open Access to Transmission and Distribution networks Select distribution circles to be franchised/privatized Tariff reforms by regulatory authorities Ultra Mega Power Plants (UMPP) 9 projects of 4000 MW each Coal based plants at pithead or coastal locations (imported coal) Natural Gas/CNG-based turbines at load centers or near gas terminals Hydel power potential of 150,000 MW is untapped as assessed by the Government of India.

Opportunities in Generation for:

o o o o

Renovation, modernization, up-rating and life extension of old thermal and hydro power plants.

Opportunities in Transmission network ventures - additional 60,000 circuit km of Transmission network expected by 2012
o

Private sector participation possible through JV and 100% equity mode

Total investment opportunity of about US$ 150 billion over a 5 year horizon.

1. RATIO ANALYSIS: (1) Raw Material Conversation Period: - (In Days)

Stock of Raw material = Cost of Raw material consumed 360 days

Particular
Raw Material Inventory Raw Material Consumed Raw Material Inventory Conversation Period

2006-07
7,682.46 6,866.57

2007-08
8,400.45 7,682.46

2008-09
10,466.18 8,400.45

2009-10 2010-11
11,168.49 12,476.71 10,466.18 11,168.49

403

394

448

384

402

14,000.00 12,000.00 10,000.00 8,000.00 Raw Material Consumed 6,000.00 4,000.00 2,000.00 0.00 2006-07 2007-08 2008-09 2009-10 2010-11 Raw Material Inventory Conversation Period

Raw Material Inventory

Raw material holding period shows duration of raw material holding. In the year 2006-07 it is 403, in the year 2007-08 is decreases to 394, in the year 2008-09 it is increases to 448 and in the year 2009-10 it decreases to 384 but in the year 2010-11 it increases to 40. So here raw material holding period is decrease so it is not good for the company.

(2) Finished Goods Holding Period:Stock of finished goods = Cost of goods sold
Particular Finished goods inventory Cost of goods inventory Finished good conversation period 2006-07 357768818 1367461915 94 2007-08 281053000 1537022000 66 2008-09 553190000 2368861000 84 2009-10 607554000

360 days

2010-11 429189000

2689212000 2410372000 81 64

3E+09 2.5E+09 2E+09 Finished goods inventory 1.5E+09 1E+09 500000000 0 2006-07 2007-08 2008-09 2009-10 2010-11 Cost of goods inventory Finished good conversation period

Finish good inventory shows duration of holding finish good. In the year2006-07 it is 94, in the year2007-08 it is 66 and in the year 2008-09 it is 84.in the year 2009-10 it is 81 and in the year 2010-11 it is 64. So, company has high risk about the finish good holding. Therefore company has to decrease it.

(3) Debtors Collection Period:Debtor 360 days = Credit sales

Particular Debtors Bills Receivable Total Credit Sales/ Net Sales Debtors Ratio
450000 400000 350000 300000 250000 200000 150000 100000 50000 0

2006-07
69993.89503 0 69993.89503 159867.55

2007-08
93,320.50 0 65,068.31 267485.45

2008-09
1,41,601.09 0 97,715.66 324,596.36

2009-10

2010-11

182,627.58 207,472.81 0 0

132,212.68 207,472.81 399,631.20 435,465.23

157.617

125.60

157.045

164.52

171.52

Debtors Bills Receivable Total Credit Sales/ Net Sales Debtors Ratio

2006-07

2007-08

2008-09

2009-10

2010-11

(Note:-Here assumed that the whole sales are Credit Sales.) The debtors collection period shows he period to which collection made from debtors. In the year2006-07 it is157.62days, in the year2007-08 it is 125.60 days, in the year 2008-09 it is 157.045 days and in the year 2009-10 it increase to 164.52 days and in the year 2010-11 it also increase to171.52. So company have to think about to reduce collection period.

(4) Payable Deferral Period :-(in lacs.)

Creditor 360 days = Credit Purchases

Particular Creditors Credit Purchase Total Payment Deferral Period

2006-07

2007-08

2008-09 31624.48 717565

2009-10 48015.88 1341410

2010-11 57334.65 1637350

24978.73 23450.35 184333 283664

48.78

29.76

15.86

12.88

12.60

1800000 1600000 1400000 1200000 1000000 800000 600000 400000 200000 0 2006-07 2007-08 2008-09 2009-10 2010-11 Creditors Credit Purchase Total Payment Deferral Period

(Note:-Here assumed that the whole Purchases are Credit Purchases.)

Payable deferral period shows the period to which payment made to creditors. In the year 2006-07 it is48.78 days, in the year 2007-08 it is 29.76 days and in the year 2008-09 it decrease to 15.86 days, in the year 2010-11 it is decreases to 12.88 days and in the year 201011 it decrease to 12.60. So it is beneficial for the company. So company has applied sound payment policy. Therefore company has to reduce it in future.

(5) Summary of Net Operating Cycle

Particular 2006-07 (Days) (1) R/M Conservation period (2) FG Holding Period
402.77 94.19

2007-08 (Days)
393.65 65.82 125.60 586.07 29.76 556.31

2008-09 (Days)
448.52 84.07 157.045 689.635 15.86 673.775

2009-10 (Days)
384.16 81.33 164.52 360.01 12.88 347.13

2010-11 (Days)
402.17 64.10 171.52 637.79 12.60 625.19

(3) Debtors Collection period 157.617 Gross Operating Cycle (-) Decrease in PDP Net Operating Cycle
654.577 48.78 605.797

Operating cycle shows duration for which investment made to working capital. Here in the year 2006-07 it is 606 days, in the year 2007-08 it is 557 days, in the year 2008- 09 it is 674 days and in the year 2009-10 it is 347.13 days and in the year 2010-11 it is 625.19 days. So company has operated liberal credit policy and holding period. Therefore company needs to reduce it in future because more operating cycle need more investment in working capital.

2.5E+10 2E+10 1.5E+10 1E+10 5E+09 0 2006-07 2007-08 2008-09 2009-10 2010-11 CA CL CR

(6) Summary of Net Operating Cycle

Particular 2006-07 (Days) (1) R/M Conservation period (2) FG Holding Period
402.77 94.19

2007-08 (Days)
393.65 65.82 125.60 586.07 29.76 556.31

2008-09 (Days)
448.52 84.07 157.045 689.635 15.86 673.775

2009-10 (Days)
384.16 81.33 164.52 360.01 12.88 347.13

2010-11 (Days)
402.17 64.10 171.52 637.79 12.60 625.19

(3) Debtors Collection period 157.617 Gross Operating Cycle (-) Decrease in PDP Net Operating Cycle
654.577 48.78 605.797

Operating cycle shows duration for which investment made to working capital. Here in the year 2006-07 it is 606 days, in the year 2007-08 it is 557 days, in the year 2008- 09 it is 674 days and in the year 2009-10 it is 347.13 days and in the year 2010-11 it is 625.19 days. So company has operated liberal credit policy and holding period. Therefore company needs to reduce it in future because more operating cycle need more investment in working capital.

2. Ratio Related To Working Capital Analysis:(1) Ratio of Current Assets to Fixed Assets:The financial manager should determine the optimum level of current assets so that the wealth of shareholder maximized. A firm needs fixed and current assets to support a particular level of output. However I, to support the same level; of output, the firm can have different level of current assets. Generally, current assets do not increases in direct proportion to output; current assets increases at decreasing rate with output.

Current Assets = Fixed Assets Particular Current Assets Fixed Assets CA to FA Ratio 2006-07 14796 2007-08 14135.10 2008-09 22028.23 26839.40 82.07 2009-10 24352.48 33847.86 71.95 2010-11 22296.74 37398.43 59.62

20916.09 22461.90 70.74 62.92

CA to FA Ratio
100 50 0 2006-07 2007-08 2008-09 2009-10 2010-11 CA to FA Ratio

According to this ratio the aggressive plan is the most risky because a short-term fund is maximum in this scheme; while short-term funds to total funds is minimum in the conservative plan and is less risky. As per this approach the year 2006-07 it is 70.74, in the year 2007-08 it is 62.92, in the year 2008-09 it is 82.07, in the year 2009-10 it is 71.95 and in the year 2010-11 it is 59.62 .

(2) Level of Current Assets [Rs]:-

Particular 1) Inventory: 2) Sundry Debtors:3) Cash & Bank Balances:4) Advance Receivable Total Current assets

2006-07 14796 53705.1 9365.24 9811.58

2007-08

2008-09

2009-10 24352.48

2010-11 22296.74

14135.10 22028.33 65068.31 97715.65 8917.16 4451.89

132212.68 141848.58 3687.15 15102.66 14425.62 16928.21

11077.53 14128.34

87677.92 99198.10 138324.21 175354.97 195499.15

Total Current assets

200000 150000 100000 50000 0 2006-07 2007-08 2008-09 2009-10 2010-11 Total Current assets

In 2006-07 is 87677.92, in the year 2007-08 is 99198.10 & in 2008-09 is 138324.21, in 200910 it is 175354.97 & in the year 2010-11 it is195499.15 the position of net current assets is better.

(3) Current Liabilities:-

Particular Current Liabilities Total

2006-07

2007-08

2008-09

2009-10 111588.89 111588.89

2010-11 128101.11 128101.11

45494.88 51309.59 72142.92 45494.88 51309.59 72142.92

Total
140000 120000 100000 80000 60000 40000 20000 0 2006-07 2007-08 2008-09 2009-10 2010-11 Total

Estimation of Working Capital

Working capital = Current Assets Current Liabilities

Particular

2006-07

2007-08

2008-09

2009-10

2010-11 195499.15 128101.11 323600.26

Current Assets Less: Current Liabilities Net Working Capital

87677.92 99198.10 138324.21 175354.97 45494.88 51309.59 72142.92 133172.8 47888.51 66181.29 111588.89 63766.08

Net Working Capital

350000 300000 250000 200000 Net Working Capital 150000 100000 50000 0 2006-07 2007-08 2008-09 2009-10 2010-11

CURRENT RATIO =CURRENT ASSET CURRENT LIABILITY

CURRENT RATIO =CURRENNT ASSET/CURRENT LIABILITIES 2006-07 2007-08 2008-09 2009-10 2010-11 CA 9637156833 11792360582 16138817000 19571275000 22163585000 CL 4549487864 5130958999 7214292000 11158889000 14302033000 CR 2.118294876 2.298276128 2.237061793 1.753873078 1.549680734

2.5E+10 2E+10 1.5E+10 1E+10 5E+09 0 2006-07 2007-08 2008-09 2009-10 2010-11 CA CL CR

This ratio measures the ability of the firm to meet current liability. The ideal current ratio is 2:1. Here we can see that the ratio is around 2 times in every year, it is good for the firm.

DEBT EQITY RATIO= = LONG TERM LIABILITY OWNER'S FUND

LL OF DEBT RATIO

DEBT EQITY RATIO=LONG TERM LIABILITY/OWNER'S FUND 2006-07 2007-08 2008-09 2009-10 2010-11 3367105089 3258507305 6547062000 6043191000 6043191000 6424335775 7677702737 8369504000 8369504000 9880632000 0.524117233 0.424411757 0.78225209 0.722048881 0.611619884

1E+10 9E+09 8E+09 7E+09 6E+09 5E+09 4E+09 3E+09 2E+09 1E+09 0 2006-07 2007-08 2008-09 2009-10 2010-11 DEBT EQITY RATIO=LONG TERM LIABILITY/OWNER'S FUND

LL OF DEBT RATIO

Debt equity ratio shows owners fund against long term liability. In the year 2006-07 the ratio was 0.52, it decrease in year 2007-08 by 0.42. in the year 2008-09 0.78, 0.72 in 200910, and 0.61 in 2010-11.

RETURN ON SHAREHOLDER'S FUND = PAT *100 Share holders' fund

RETURN ON SHAREHOLDER'S FUND=PAT/share holders' fund*100 2006-07 2007-08 2008-09 2009-10 2010-11 1.59 1.5 0.94 1.7 1.94 6.42 7.68 8.37 9.88 15.91 24.76% 19.53% 11.23% 17.21% 12.19%

PAT SHs FUND RATO=

16 14 12 10 8 6 4 2 0 2006-07 2007-08 2008-09 2009-10 2010-11 RETURN ON SHAREHOLDER'S FUND=PAT/sh.'s fund*100 pat SH FUND RATO=

Useful to know the profitability of unit from the view point of shareholders. The ratio was 24.76% in 2006-07, 19.53% in 2007-08, 11.23% in 2008-09., it decrease by17.21% in 200910 and 12.19 % in 2010-11.

PROPRIETORY RATIO= PROPRIETOR'S FUND TOTAL ASSET

PROPRIETORY RATIO= PROPRIETOR'S FUND/TOTAL ASSET 2006-07 2007-08 2008-09 2009-10 PROPRIETOR'S FUND TOTAL ASSET RATIO= 265000000 9867803505 0.026855014 265000000 11033372684 0.024018041 265000000 15044550000 0.017614352

2010-11

265000000 306921000 16064607000 9867803505 0.016495891 0.031103274

Useful to know proportion of owners fund in the total funds employed. Here
ratio is decreasing year by year and suddenly increase in 2010-11 by 0.031.

1.8E+10 1.6E+10 1.4E+10 1.2E+10 1E+10 8E+09 6E+09 4E+09 2E+09 0 2006-07 2007-08 2008-09 2009-10 2010-11

PROPRIETOR'S FUND TOTAL ASSET RATIO=

PROPRIETORY RATIO= PROPRIETOR'S FUND/TOTAL ASSET

LONG TERM FUND TO FIXED ASSET RATIO= LONG TERM FUND FIXED ASSET
LONG TERM FUND TO FIXED ASSET RATIO 2006-07 2007-08 2008-09 2009-10 2010-11 LONG TERM FUND 3367105089 3258507305 6547062000 6043191000 4530836000 FIXED ASSET 2050435538 2226850410 2583990000 3349294000 3593584000 RATIO= 1.642141402 1.463280735 2.53370253 1.804317865 1.260812604

7E+09 6E+09 5E+09 4E+09 3E+09 2E+09 1E+09 0 2006-07 2007-08 2008-09 2009-10 2010-11 LONG TERM FUND FIXED ASSET RATIO=

Useful to know whether the fixed assets have been purchase from funds. Here the ratio is 1.64 in 2006-07, 1.46 in 2007-08, 2.53 in 2008-09 .1.80 in 2009-10 and 1.26 in 2010-11.

P/E RATIO =

MARKET PRICE EPS

Market Price EPS RATIO

P/E RATIO = MARKET PRICE/ EPS 2006-07 2007-08 2008-09 2009-10 2010-11 48.44 57.9 62.9 73.67 102.35 13.06 11.32 7.13 12.86 12.58 3.71 5.11 8.82 5.73 8.14

120 100 80 60 40 20 0 2006-07 P/E RATIO = 2007-08 2008-09 2009-10 2010-11 MARKET PRICE/ EPS MP EPS RATIO

RETURN ON CAPITAL EMPLOYED= EBIT *100 CAPITAL EMPLOYED

RETURN ON CAPITAL EMPLOYED= EBIT/CAPITAL EMPLOYED*100 2006-07 2007-08 2008-09 2009-10 2010-11 2.33 2.23 1.48 2.66 3.03 7.29 8.38 9.68 11.57 17.33 31.96159122 26.61097852 15.2892562 22.99049265 17.48413156

EBIT Cap. Employed Ratio

Useful to know the profitability of the business. Here in the year 2006-07 the ratio was 31.96%, 26.61% in 2007-08. It was 15.29% in 2008-09 and 22.99% in 2009-10 which was 17.48% in 2010-11.
35 30 25 20 15 10 5 0 2006-07 2007-08 2008-09 2009-10 2010-11 RETURN ON CAPITAL EMPLOYED= EBIT/CAPITAL EMPLOYED*100 EBIT Cap.employed ratio

 Degree of Operating Leverage (D.O.L.) (in millions): = Contribution/EBIT

year 2006-07 2007-08 2008-09 2009-10 2010-11 Contribution/EBIT = (15669.6-1001.7)/2166.52 = (17682.03-1386.77)/2015.52 = (19136.22-1109.72)/1205.85 = (26428.93-1489.91)/2275.96 = (29344.48-1629.98)/2566.06 Contribution/EBIT =14667.9/2166.52 =16295.26/2015.52 =18026.5/1205.85 =24939.02/2275.96 =27714.5/2566.06 D.O.L. =6.77 =8.08 =14.95 =10.96 =10.80

Degree of Financial Leverage (D.F.L.) (in Millions): = EBIT/EBT

Year EBIT/EBT D.F.L.

2006-07 2007-08 2008-09 2009-10 2010-11

=2166.52/1594.95 =2015.52/2015.52 =12058.47/9441.09 =22759.62/17045.62 =2566.06/1905.89

=1.36 =1 =1.28 =1.34 =1.35

Degree of Combine Leverage (D.C.L.): = D.O.L.* D.F.L.

Year 2006-07 2007-08 2008-09 2009-10 2010-11 D.O.L.*D.F.L. =6.77*1.36 =8.08*1 =14.95*1.28 =10.96*1.34 =10.80*1.35 D.C.L. =9.21 =8.08 =19.14 =14.69 =14.58

Particulars Direct material Opening stock of raw material Add: Purchased Less: Closing stock Wages Prime cost Factory overheads Erection & sub- contracting Exp. Job charges Power & Fuel
Excise Duty

2006-07 (In Lacs.) 788.04 7659.72 765.30 8100.83 17313.89 27675.41 646.46 608.63
-

2007-08 (In Lacs.) 764.84 8420.01 784.40 6458.85 16428.1 33496.49 747.16 515.5
-

2008-09 (In Lacs.) 7844.01 106936.66 9734.93 9669.84 114715.58 36650.66 1048.46 650.56
-

2009-10 (In Lacs.) 9734.93 114424.96 12475.03 14915.82 126600.68 73279.71 1108.28 612.8
-

2010-11 (In Lacs.) 11790.82 112562.63 15234.48 17885.06 127004.03 78512.79 2567.72 683.26
184.91

Repairs & Maintenance: Plant & Machinery Building Others Freight & Forwarding Expenses Stores, spares and Tools consumed Vehicles running & Hire Charges Testing Expense Pollution Control Expenses Other Operating Expenses TOTAL Finished Goods Semi Finished Goods Scrap
W.I.P.

117.44 73.73 254.06 1661.36 621.73 128.99 39.23 33.21 52.29 31683.90 3577.69 1250.73 913.06
-

151.64 59.73 44.39 2303.24 660.89 124.42 147.18 38.43 13.41 38302.52 2810.53 941.73 60.28
-

211.78 83.52 28.48 2359.52 833.62 237.32 131 46.57 42281.49 5531.9 1844.13 77.23
1536.92

199.83 136.84 38.70 2958.82 1027.96 267.07 47.12 61.38 79738.51 6075.54 1145.75 175.3
553.33

191.16 100.77 55.12 2496.42 1037.70 325.44 176.49 73.68 86405.46 4291.89 2058.39 224.43
121.06

TOTAL

3812.53 Works cost 52810.32 6458.85 296.71 405.52 7161.09 59971.41

4919.73 59650.35 8100.83 474.76 482.89 9058.49 68675.84

8990.18 165987.25 9669.84 671.51 520.44 10861.79 176849.04

7949.92 214289.11 14915.82 754.72 505.19 16175.73 230464.84

6695.77 220105.26 17885.06 925.43 531.42 19341.91 239447.17

Office overheads:Salaries Contribution to P.F. Employee Welfare Expenses TOTAL Cost of goods sold

Selling and distribution O/H:

Insurance Charges Rent Rates & Taxes Stationery, Printing & Drawing Expenses Telecommunication Expenses Travelling Expenses Legal & Professional Expenses Conveyance Expenses Service Charges Audit Fees General Expenses Preliminary Exp. Written Off Miscellaneous Expenses Taxes & Duties Loss on sale of assets Bad Debts Written Off Balances Written Off Performance Warranties Expenses Loss by Theft/Damage/Fire Service Tax Exchange Rate Variation Carbon Credit Expenses Loss on Outstanding Contracts for options Foreign Currency Translation Expenses Provision for Diminution in value of Investments

1027.34 495.67 11.58 137.31 201.53 540.15 757.59 42.75 375.58 17.75 272.30 50.08 513.93 1988.95 2.24 17.90 2206.83 28.10 1368.23 (27.09) 6.24 0.135 9990.06 69961.47 69264.89 139226.36

1079.75 649.29 46.23 155.42 232.21 689.85 379.70 61.39 464.96 19.5 267.09 5.08 1398.45 2461.26 6.84 11.09 45.74 2123.59 107.58 3075.52 130.72 9.34 453.77 3.35 13867.72 82543.56 71969.83 154513.39

999.68 910.65 26.32 161.79 262.43 918.82 396.06 391.72 30 379.05 764.26 1266.7 7.74 11.98 1856.15 66.94 1491.86 775.9 8.4 5.89 1.3 10733.76 187582.8 3599.21 191185.01

1196.15 1571.24 124.03 319.75 357.46 1453.14 588.58 1688.91 38 409.18 1120.34 1789.42 3.29 8.86 21.94 3698.74 244.33 918.63 (735.77) 31.15 50.73 14898.10 245362.94 18119.52 263482.46

1032.97 1662.31 147.74 284.72 373.52 1431.64 914.78 1989.83 42 420.09 1429.14 1884.97 2.3 82.18 3640.28 306.07 1813.78 (1421.65) 263.04 .11 16299.82 255746.99 37697.81 293444.80

TOTAL Office Cost/Total cost Profit Sales

2006-07

2007-08

2008-09

2009-10

2010-11

2010-11 USD In Million

RS. IN BILLION Production in MTs Gross Revenue Sales Growth International Revenue Total Expenditure Operating Profit (PBDIT & other income) Other Income Interest Profit before depreciation & tax (PBDT) Depreciation Profit before Tax Provision for Taxation (Incl. FBT & Deferred Tax) Profit after Tax (PAT) Profit betore Tax & Int. on Term Loans Equity Share Capital Net Worth (excluding Revaluation reserve & Debenture Redemption Reserve) Total Borrowings 78,404 15.67 79.9% 4.01 13.18 2.49 0.12 0.28 2.33 0.17 2.17 0.57 1.59 2.23 0.27 6.42 3.37 79,531 17.68 12.8% 5.01 15.27 2.42 0.21 0.40 2.23 0.22 2.02 0.52 1.50 2.08 0.27 7.67 3.26 93,484 19.14 8.2% 5.19 17.28 1.86 0.31 0.68 1.48 0.27 1.21 0.26 0.94 1.29 0.27 8.33 6.54 * 121,483 26.78 40.0% 11.58 23.58 3.21 0.35 0.90 2.66 0.38 2.28 0.57 1.70 2.46 0.27 9.76 6.04 * 127055 29.34 9.6% 9.70 25.98 3.36 0.51 0.85 3.03 0.46 2.57 0.66 1.91 2.73 0.31 15.71 4.53

* 127055 657.21 9.6% 217.27 581.88 75.34 11.44 19.02 67.76 10.29 57.47 14.79 42.68 0.61 6.87 351.77 101.47

Capital Employed (Net Worth + Term Borrowings)

7.29

8.38

9.68

11.57

17.33

388.08

Debt Equity Ratio Book Value Per Equity Share (Rs) (excluding revaluation Reserve & Debenture Redemption Reserve)** Earning per Equity Share (Rs.) **

0.52:1

0.43:1

0.79:1

0.62:1

0.29:1

0.29:1

48.44

57.90

62.90

73.67

102.35

2.29

13.06

11.32

7.13

12.86

12.58

0.28

Operating Profit Profit before Tax Profit after Tax Order Book at year end Consolidated Financial highlights : Gross Revenue Profit after Tax (PAT) Earning per Equity Share (Rs.) Consolidated Order Book at year end

15.9% 13.7% 10.1% 16.88

13.7% 11.3% 8.4% 23.57

9.7% 6.2% 4.9% 43.70

12.0% 8.4% 6.3% 50.15

11.5% 8.6% 6.4% 55.00

11.5% 8.6% 6.4% 1231.80

16.41 1.61 13.21 28.50

27.05 1.65 12.44 44.42

32.77 1.11 8.37 65.70

40.43 1.78 13.41 76.86

44.15 2.00 13.21 96.50

988.80 44.81 0.30 2,161.25

* The quantity includes production, on job work basis and purchased from/got processed from third parties. ** Face value of Shares: Rs. 10 each up to 07.09.2010 and Rs. 2 each w.e.f. 08.09.2010 on account of split of Shares. The pre split EPS and book value per equity share are adjusted to make it comparable with post split Share capital. 1 USD = Rs.44.65.

Balance Sheet
Sched ule Source of fund: Share capital Reserve and surplus Loan funds: Secured loans Unsecure loans Deferred TAX TOTAL Application of funds: Fixed assets: E Gross block less: depreciation Net block Capital work in progress Investment current asset; loan and advances: Inventories Accrued value of work done sundry debtors Cash & Bank Balance loan & Advances less: current liabilities and provisions current liabilities Provisions a b a+b F 2006-07 2007-08 2008-09 2009-10 2010-11

A B A+B C D C+D

2.685501 62.41851 65.10401 29.98142 34.12213 34.12213 0.773857 100

2.401804 67.18438 69.58618 26.81417 2.719024 29.53319 0.880625 100

1.761435 53.87003 55.63147 32.26681 11.25102 43.51783 0.8507 100

1.649589 59.85601 61.50559 31.9088 5.70924 37.61804 0.876361 100

1.493661 75.93755 77.43122 17.69391 4.355848 22.04976 0.519028 100

26.01888 5.239834 20.77905 0.417247 21.19629 22.18553

26.82529 6.642424 20.18286 0.175286 20.35815 13.36987

23.86859 6.693002 17.17559 0.66436 17.83995 8.429976

29.33508 8.486183 20.8489 0.220933 21.06983 7.875325

26.20889 8.72035 17.48853 0.711784 18.20031 19.25127

16.03902 17.70833 54.42458 9.490703 12.26685 109.9295

13.93066 25.89228 58.97409 8.081988 13.70171 120.5807

15.74564 23.61786 64.95087 2.959138 20.72356 127.9971

16.73998 20.49275 82.3006 2.295201 26.6312 148.4597

11.73031 20.07858 69.032 7.020369 24.2894 132.1507

H I J

K 46.10436 7.212121 53.31648 59.65319 0.005075 100 46.50399 7.804756 54.30875 66.27198 47.95286 6.31414 54.267 73.73008 69.46257 7.942323 77.40489 71.05484 62.34166 7.260584 69.60224 62.54842

Net current Assets Miscellaneous expenditure L TOTAL

100

100

100

100

Profit and Loss A/C

Particulars INCOME : Sales & Services-Gross Less : Excise Duty Sales & Services-Net Other Income Provision for Diminution in value of Investments reversed Increase(Decrease) in Stocks a) Transmission & Distribution Division: b) Real Estate Division: TOTAL EXPENDITURE : Material Cost (Refer Note :- 35) Employees Emoluments Manufacturing & Operating Expenses Administrative, Selling & Other Expenses Financial Expenses Depreciation(Less: Transferred to Revaluation Reserve) TOTAL PROFIT BEFORE TAX Provision for Taxation Current Tax Fringe Benefit Tax Deferred Tax NET PROFIT FOR THE YEAR AFTER TAX Balance brought forward (Less) : Prior Year's adjustments (Less)/ Add : Prior Year's Taxes AMOUNT AVAILABLE FOR APPROPRIATION APPROPRIATIONS : Proposed Dividend Add: Corporate Tax on Dividend Transfer to Debentures Redemption Reserve Transfer to General Reserve Balance carried over to Balance Sheet TOTAL No. of equity shares at the end of the year Weighted No. of equity shares at the end of period Profit for calculation of E.P.S. (Rs.) Nominal value of Equity shares (Rs.) Basic/diluted earnings per share (Rs.) 2006-07 100.7959 2.709977 98.0859 0.802204 2007-08 101.1598 1.751763 99.40808 1.229328 2008-09 97.38 1.58 95.80 1.56 2009-10 100.85 1.76 99.09 1.30 2010-11 100.75 2.07 98.68 1.75 -

1.115471 -0.00358 100 50.78362 4.607854 20.38723 6.428174 2.773802 1.078717 86.05939 13.94061 0.345086 0.108423 0.118493 10.26284 6.334796 -0.00329 -0.08692 16.50741 1.278871 0.217347

-0.63343 -0.00398 100 49.059 5.182409 21.91307 8.086415 2.980777 1.247424 88.46909 11.53091 2.743817 0.058612 0.14964 8.578849 12.20242 -0.00414

2.63 100 54.42 5.53 21.50 5.65 5.39 1.39 93.86 6.14 1.11 0.06 1.16 4.80 16.28 (0.002) (0.006) 21.08

(0.39) 100 43.10 5.87 31.58 5.61 3.82 1.44 91.43 8.57 2.10 0.05 6.42 14.15 0.00001 0.03 20.60

(0.43) 100 43.83 6.64 29.67 5.60 3.87 2.61 91.19 8.81 2.38 (0.12) 6.54 16.73 (0.001) 23.28

20.77713 1.137059 0.193246 1.01 .17 0.15 0.61 19.13 21.08 2,65,00,000 2,65,00,000 9,441.09 10.00 35.63 0.87 0.12 0.32 0.94 18..35 20.60 132,500,00 0 132,500,00 0 17,045.62 2.00 12.86 0.79 0.115 0.29 1.03 21.05 23.28 153,460,570 151,450,652 19058.90 2.00 12.58

1.286914 13.72428 16.50741 2,65,00,000 2,65,00,000 15949.53 10 65.32

1.14421 18.30261 20.7769 2,65,00,000 2,65,00,000 14,995.23 10.00 56.59

Trend analysis
Particulars INCOME : Sales & Services-Gross Less : Excise Duty Sales & Services-Net Other Income Provision for Diminution in value of Investments reversed Increase(Decrease) in Stocks a) Transmission & Distribution Division: b) Real Estate Division: TOTAL EXPENDITURE : Material Cost (Refer Note :- 35) Employees Emoluments Manufacturing & Operating Expenses Administrative, Selling & Other Expenses Financial Expenses Depreciation(Less: Transferred to Revaluation Reserve) TOTAL PROFIT BEFORE TAX Provision for Taxation Current Tax Fringe Benefit Tax Deferred Tax NET PROFIT FOR THE YEAR AFTER TAX Balance brought forward (Less) : Prior Year's adjustments (Less)/ Add : Prior Year's Taxes AMOUNT AVAILABLE FOR APPROPRIATION APPROPRIATIONS : Proposed Dividend Add: Corporate Tax on Dividend Transfer to Debentures Redemption Reserve Transfer to General Reserve Balance carried over to Balance Sheet TOTAL No. of equity shares at the end of the year Weighted No. of equity shares at the end of period Profit for calculation of E.P.S. (Rs.) Nominal value of Equity shares (Rs.) Basic/diluted earnings per share (Rs.) 2006-07 100 100 100 100 -

profit & loss a/c

2007-08 112.87 73 114 172.36 2008-09 122.16 74 123.5 246.7 2009-10 171 111.25 172.63 277.65 2010-11 187.32 143.38 188.54 409 -

100 (100) 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100

(63) (125) 112.5 108.65 126.5 121 141.49 120.86 130.06 115.62 93.03 894.28 60.80 142.04 94.02 216.65 141.21 0.55

5,177.63 126.44 135.5 152 133.3 111.08 244.94 162.95 137.91 55.66 408.35 70.72 167.37 59.19 324.96 78.71 8.10 0.63

(40) 171 145 217.84 264.7 149.10 235.50 228.09 181.56 105.05 1041.58 69.51 106.87 381.85 (1.95) (59.37) 0.83

(72)

187.41 162 270 272.71 163.16 261.64 273.95 198.59 118.44 1294.61 (185.35) 119.50 495.07 51.36 1.03

100 100 100 100 100 2,65,00,000 2,65,00,000 15949.53 10 65.32

100 100 100 150 141.56 2,65,00,000 2,65,00,000 14,995.23 10.00 ss56.59

100 100 300.00 60 176.25 161.45 2,65,00,000 2,65,00,000 9,441.09 10.00 35.63

115.82 96.76 850.00 125 228.51 213.29 132,500,000 132,500,000 17,045.62 2.00 12.86

115.82 99.20 850.00 150 287.44 264.27 153,460,570 151,450,652 19058.90 2.00 12.58

Trend analysis

Sched ule Source of fund: Share capital Reserve and surplus Loan funds: Secured loans Unsecure loans Deferred TAX TOTAL Application of funds: Fixed assets: E Gross block less: depreciation Net block Capital work in progress Investment current asset; loan and advances: Inventories Accrued value of work done sundry debtors Cash & Bank Balance loan & Advances a b a+b F

7-8

8-9

9-10

10-11

11-12

A B A+B C D C+D

100 100 100 100 100 100 100

100 120.35 119.51 87.86 300 96.77 127.24 111.81

100 131.58 130.27 144.17 169 194.44 167.6 152.46

100

115.58

156.11 253.34 153.8 247.66 152.24 91 179.48 184.36 162./8 108 89 134.56 139.66 208.24

100 100 100 100 100 100

115.28 141.74 108.6 48 107.4 67

139.86 194.74 126.02 242.75 128.3 58

183.55 136 163.35 86.20 161.8 58

209.75 346.55 175.26 346.4 178.6 180

100 100 100 100 100 100

97 163.5 121.16 95 125 122.65

150 203 182 47 257.57 177.5

170 188.4 246.18 40 353.43 229

152.3 236.11 264 154.03 412.32 250.32

H I J

less: current liabilities and provisions current liabilities Provisions

K 100 100 100 100 100 100 111.81 112.78 121 114 124.22 158.57 133.5 155.18 188.44 152.46 245.28 179.28 236.35 194 163.13 281 57 271.79 271.84 218.34

Net current Assets Miscellaneous expenditure L TOTAL

208.23

Budgets
Material purchase budget
Direct material Opening stock of raw material Add: Purchased Less: Closing stock
Estimated cost of purchase

788.04 7659.72 765.30

7682.46

765.30 8420.01 784.40

8400.91

784.401 10693.6 973.49

10504.51

973.49 11442.496 1247.50

11168.49

1247.50 11256.263 1523.448

10980.32

Production budget
Sales Less Finished Goods: op Add: Finished Goods: clo
Estimated cost of production

139226.36 3577.69 2810.53

138459.2

154513.39 2810.53 5531.9

157234.76

191185.01 5531.9 6075.54

191728.65

263482.46 6075.54 4291.89

261698.81

293444.80 4291.89 2058.39

291211.3

After completing of the analysis of KALPATARU POWER TRANSMISSION LIMITED I can say that the Analysis is very important for management students like me. Practical knowledge is a very important in the every field. It was great experience during the Analysis and I learnt practically knowledge. I also took some experience about the organizations work. The employees of the company were supportive during the Analysis. They provide us the proper guidance and information about all the departments like marketing, finance, production and personnel, etc. The unit maintains the financial position also because of good relationship with bank, debtors, creditors and others.

1) Reference Books of Financial Management I M Pandey, Financial Management 8th Edition, Vikas publishing House Pvt Ltd, New Delhi, 2003. M Y Khan & P K Jain, Financial Management 4th Edition, Tata McGraw- Hill Publishing Company Limited, New Delhi, 2004. 2) Auditors Report Financial Year 2006-2007. Financial Year 2007-2008. Financial Year 2008-2009. Financial Year 2009-2010. Financial Year 2010-2011. 3) Website List http://energybusiness.in/kalptaru-bags-transmission-project-order-kenya http://www.kalpataru.com/contactus/project.asp http://www.zimbio.com/Govt+Jobs+in+India/articles/ezDdFII83zh/Kalptaru+Powe r+Transmission+Ltd+Chhattisgarh

Sched ule Source of fund: Share capital Reserve and surplus Loan funds: Secured loans Unsecure loans Deferred TAX TOTAL Application of funds: Fixed assets: E Gross block less: depreciation Net block Capital work in progress Investment current asset; loan and advances: Inventories Accrued value of work done sundry debtors Cash & Bank Balance loan & Advances a b a+b F

2006-07

2007-08

2008-09

2009-10

2010-11

A B A+B C D C+D

265000000 6159335775 6424335775

265000000 7412702737 7677702737

265000000 8104504000 8369504000 4854396000 1692666000 6547062000 127984000 15044550000

265000000 9615632000 9880632000 5126024000 917167000 6043191000 140784000 16064607000

306921000 15603828000 15910749000 3635786000 895050000 4530836000 106651000 20548236000

2958507305 2958507305 3367105089 300000000 3367105089 3258507305 76362642 97162642 9867803505 11033372684

2567492018 517056481 2050435538 41173141 2091608679 2189224419

2959733797 732883387 2226850410 19339934 2246190344 1475147952

3590922000 1006932000 2583990000 99950000 2683940000 1268252000

4712566000 1363272000 3349294000 35492000 3384786000 1265140000

5385465000 1791878000 3593584000 146259000 3739843000 3955797000

1582699085

1537021784

2368861000 3553201000 9771566000 445189000 3117767000 19256584000

2689212000 3292080000 13221268000 368715000 4278198000 23849473000

2410372000 4125793000 14184858000 1442562000 4991044000 27154629000

H I J

1747423665 2856792251 5370510150 6506830664 936523933 891715883 1210468551 1511760623 1084762538 4 13304121205

less: current liabilities and provisions current liabilities Provisions

K 4549487864 711677891 5261165737 5886459647 5130958999 861127819 5992086818 7312034388 7214292000 949934000 8164226000 11092358000 15044550000 11158889000 1275903000 12434792000 11414681000 16064607000 12810111000 1491922000 14302033000 12852596000

Net current Assets Miscellaneous expenditure L TOTAL

500760 9867803505 11033372684

20548236000

PROFIT & LOSS ACCOUNT FOR THE PERIOD ENDED ON 31 ST MARCH, 2008 Particulars INCOME :
Sales & Services-Gross Less : Excise Duty Sales & Services-Net Other Income Provision for Diminution in value of Investments reversed Increase(Decrease) in Stocks a) Transmission & Distribution Division: b) Real Estate Division: TOTAL

2006-07
156647.40 4211.59 152435.82 1246.71 -

2007-08
1,76,820.35 3,061.96 1,73,758.39 2,148.78 -

2008-09
1,91,362.20 3,112.35 1,88,249.85 3,075.63 -

2009-10
267,846.38 4,685.61 263,160.77 3,461.50 -

2010-11
293,444.80 6,038.67 287,406.13 5,107.02 -

1733.56 (5.56) 155410.53 78923.09 7161.09 31683.90 9990.06 4310.78 1676.44

(1,107.19) (6.95) 1,74,793.03 85,751.71 9,058.49 38,302.52 14,134.49 5,210.19 2,180.41

5,177.63 1,96,503.10 1,06,946.78 10,861.79 42,248.27 11,097.16 10,558.82 2,731.81

(1,040.26) 265,582.01 114,480.80 15,600.21 83,871.11 14,894.80 10,151.70 3,823.77

(1,254.15)

291,259.00 127,679.63 19,341.91 86,405.46 16,299.82 11,278.93 4592.67

EXPENDITURE :
Material Cost (Refer Note :- 35) Employees Emoluments Manufacturing & Operating Expenses Administrative, Selling & Other Expenses Financial Expenses Depreciation(Less: Transferred to Revaluation Reserve)

TOTAL
PROFIT BEFORE TAX Provision for Taxation Current Tax Fringe Benefit Tax Deferred Tax

133745.35
21665.18 536.3 168.5 184.15

1,54,637.80
20,155.23 4,796.00 102.45 261.56

1,84,444.63
12,058.47 2,190.00 119.17 308.21

242822.39
22759.62 5586.00 128.00

265,598.42
25,660.58 6,943.00 (341.32)

NET PROFIT FOR THE YEAR AFTER TAX

Balance brought forward (Less) : Prior Year's adjustments (Less)/ Add : Prior Year's Taxes

15949.53
9844.94 (5.12) (135.09)

14,995.23
21,328.98 (7.23) -

9,441.09
31,991.69 (4.03) (10.94)

17045.62
37592.54 0.10 80.20

19,058.90
48739.71 (2.63) -

AMOUNT AVAILABLE FOR APPROPRIATION

APPROPRIATIONS : Proposed Dividend Add: Corporate Tax on Dividend Transfer to Debentures Redemption Reserve Transfer to General Reserve Balance carried over to Balance Sheet

25654.25

36,316.97

41,417.82

54,718.46

67,795.98

1987.5 337.78 2000 21328.98

1,987.50 337.78 2,000.00 31,991.69

1,987.50 337.78 300.00 1,200.00 37,592.54

2,301.91 326.84 850.00 2,500.00 48,739.71

2,301.91 335.09 850.00 3,000.00 61,308.98

TOTAL
No. of equity shares at the end of the year Weighted No. of equity shares at the end of period Profit for calculation of E.P.S. (Rs.) Nominal value of Equity shares (Rs.) Basic/diluted earnings per share (Rs.)

25654.26
2,65,00,000 2,65,00,000 15949.53 10 65.32

36,316.57
2,65,00,000 2,65,00,000 14,995.23 10.00 56.59

41,417.82
2,65,00,000 2,65,00,000 9,441.09 10.00 35.63

54,718.46
132,500,000

67,795.98
153,460,570

132,500,00 0 17,045.62 2.00 12.86

151,450,652 19058.90 2.00 12.58

Liabilities Source of fund: Share capital Reserve and surplus Loan funds: Secured loans Unsecure loans Deferred TAX

RS. 265000000 7412702737

7677702737
2958507305 300000000

Assets Application of funds: Fixed assets: Gross block less: depreciation Net block Capital work in progress

RS.

2959733797 732883387 2226850410 19339934

2246190344
1475147952 1537021784 2856792251 6506830664 891715883 1511760623

3258507305 Investment
97162642 current asset; loan and advances: Inventories Accrued value of work done sundry debtors Cash & Bank Balance loan & Advances less: current liabilities and provisions current liabilities Provisions Net current Assets Miscellaneous expenditure TOTAL 11033372684 TOTAL

13304121205
5130958999 861127819

5992086818
7312034388 -

11033372684

Liabilities Source of fund: Share capital Reserve and surplus Loan funds: Secured loans Unsecure loans Deferred TAX

RS. 265000000 8104504000 8369504000

4854396000 1692666000 6547062000 Investment 127984000 current asset; loan and advances: Inventories Accrued value of work done sundry debtors Cash & Bank Balance loan & Advances less: current liabilities and provisions current liabilities Provisions Net current Assets Miscellaneous expenditure TOTAL 15044550000 TOTAL

Assets Application of funds: Fixed assets: Gross block less: depreciation Net block Capital work in progress

RS.

3590922000 1006932000 2583990000 99950000 2683940000 1268252000 2368861000 3553201000 9771566000 445189000 3117767000 19256584000 7214292000 949934000 8164226000 11092358000 15044550000

Liabilities Source of fund: Share capital Reserve and surplus Loan funds: Secured loans Unsecure loans Deferred TAX

RS. 265000000 9615632000 9880632000

5126024000 917167000 6043191000 Investment 140784000 current asset; loan and advances: Inventories Accrued value of work done sundry debtors Cash & Bank Balance loan & Advances less: current liabilities and provisions current liabilities Provisions Net current Assets Miscellaneous expenditure TOTAL 16064607000 TOTAL

Assets Application of funds: Fixed assets: Gross block less: depreciation Net block Capital work in progress

RS.

4712566000 1363272000 3349294000 35492000 3384786000 1265140000 2689212000 3292080000 13221268000 368715000 4278198000 23849473000 11158889000 1275903000 12434792000 11414681000 16064607000

Liabilities Source of fund: Share capital Reserve and surplus Loan funds: Secured loans Unsecure loans Deferred TAX

RS. 265000000 9615632000 9880632000

5126024000 917167000 6043191000 Investment 140784000 current asset; loan and advances: Inventories Accrued value of work done sundry debtors Cash & Bank Balance loan & Advances less: current liabilities and provisions current liabilities Provisions Net current Assets Miscellaneous expenditure TOTAL 16064607000 TOTAL

Assets Application of funds: Fixed assets: Gross block less: depreciation Net block Capital work in progress

RS.

4712566000 1363272000 3349294000 35492000 3384786000 1265140000 2689212000 3292080000 13221268000 368715000 4278198000 23849473000 11158889000 1275903000 12434792000 11414681000 16064607000