AS ON 31.03.08 (Rs.

in Lacs)
A)SOURCES OF FUND
1) SHAREHOLDERS FUND
a) Capital 500.01
b) Reserves & Surplus 166,318.86
166,818.87
2) DEFERRED GOVT. GRANTS 10,615.90
3) LOANS FUNDS
a) Secured loans 401,611.56
b) Unsecured loans 46,665.68
4) ADVANCE RECEIPTS 87,654.62
535,931.86
TOTAL (1+2) 713,366.63
B) APPLICATION OF FUNDS
1) FIXED ASSESTS
a) Gross block 597,731.40
b) Less: Depreciation to date 121,660.96
c) Net Block 476,070.44
d) Capital work in progress 83,526.31
559,596.75
2) INVESTMENTS 135.00
3) CURRENT ASSETS, LOANS
&ADVANCES
a) Interest accrued on fixed deposits 1,753.91
b) Sundry Debtors 1,016.78
c)Cash & Bank Balance 44,585.37
d) Loans, advances & Deposits 11,232.01
58,588.07
Less: Current liabilities & Provisions 133,684.67
NET CURRENT ASSETS (75,096.60)
BALANCE SHEET AS AT 31st March, 2008
4) A) MISCELLANEOUS EXPEDITURE
(To the extent not written off or adjusted )

b) PROFIT AND LOSS ACCOUNT
Less : balance in General Reserve 228,731.48
TOTAL (1+2+3+4) 713,366.63
Years Average net Fixed Assets
2008 466,621.04
Years Average Total Assets
2008 691,095.16
Years Average Net Worth
2008 155,047.95
AS ON 31.03.07 (Rs. in Lacs)
500.01
142,777.01
143,277.02
10,953.00
393,088.74
19,562.68
101,942.25
514,593.67
668,823.69
557,192.96
100,021.33
457,171.63
92,748.27
549,919.90
135.00
1,550.84
7,896.52
27,853.06
10,577.95
47,878.37
115,666.51
(67,788.14)
BALANCE SHEET AS AT 31st March, 2008
186,556.93
668,823.69
PARTICULARS
A. INCOME
From Operation *
Cess from Govt. of Maharashtra
Other Income
TOTAL
B. EXPENDITURE
Personnel Expenses
Operating & Other Expenses
Operation & Maintainence of Projects
Finance Charges
Depreciation 23,311.88
Less : Transfer from Revaluation Reserve 161.98
Transfer from Deferred Govt. Grants 324.38
Preliminary Expenses Written Off
TOTAL
PROFIT / (LOSS) BEFORE TAX AND PRIOR
PERIOD
ADJUSTMENTS ( A - B )
Less : Prior Period Adjustement (Net)
LOSS BEFORE TAX
Less : Provision for Tax for - Fringe Benefit Tax
LOSS AFTER TAX
Balance brought forward
Balance carried forward to Balance Sheet
Basic & Diluted Earning Per Share (In Rupees)
Note:- Net sales is taken as income from core activities.
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31st March, 2008
(Rs. in Lacs)
AS ON 31.03.08 AS ON 31.03.07
29,982.70 27,731.79
- 6,984.00
179.48 280.03
30,162.18 34,995.82
642.75 656.59
834.29 1,045.54
1,605.80 1,636.18
42,563.32 38,112.07
21,702.83
161.98
22,825.52 345.61 21,195.24
- 5,513.58
68,471.68 68,159.20
(38,309.50) (33,163.38)
3,848.85 595.80
(42,158.35) (33,759.18)
16.20 15.65
(42,174.55) (33,774.83)
186,656.93 152,882.10
228,831.48 186,656.93
(843.49) (675.50)
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31st March, 2008
Rs. IN LAKHS
PARTCULARS AS AT 31
ST
MAR09
Cash Flow From Operating Activities
Net profit before taxation and Prior Period Items
Adjustments for:
Depreciation 22825.52
Preliminary Exp Written off -
Defferred interest written off
-
Loss on sale of assets
-
Dividend / Incentives on Investments Received -
Income from Deployment of Temporary Funds 2413.71
Interest 42563.32
Operation profit before working capital changes
Adjustments for:
Trade and other receivable 6391.14
Trade payable and other Liabilities 13977.41
Net flow before extra ordinary activities
Direct tax paid 367.19
Net Cash from operating activities
Cash flows from investing activities
Purchase of fixed assets -24195.82
Sale of fixed assets -
Investments in subsidiary -
Purchase of investments -
Sale of Investments -
Dividend / Incentives Received on Investments -
Income from Deployment of Temporary Funds -2413.71
Net cash from investing activities
Cash flows from financing activities
Grants received from government 9831.1
Interest Paid including During Construction Period Interest -47315.49
Proceeds From Borrowings 66200.65
Repayments of borrowings -16714.82
Appropriation of Advance Income -14287.62
Securisation - Toll Collection Thane Ghodbunder -
MAHARASHTRA STATE ROAD DEVELOPMENT CORPORATION
CASH FLOW AS ON 31st MARCH
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Rs. IN LAKHS
AS AT 31
ST
MAR09 AS AT 31
ST
MAR08 AS AT 31
ST
MAR08
-42,174.51 -33602.92
21195.89
1.1
5265.09
22.69
-8
-2347.05
67802.55 38112.06 62241.78
25,628.04 28638.86
164.69
20368.55 9146.21 9310.9
45,996.59 37949.76
33.5
45,629.40 37916.26
-25533.39
7.39
-
-
-
8
2347.05
-26609.53 -23178.95
3972.77
-39,479.75
26,154.52
-25,127.08
-13,855.69
4000
MAHARASHTRA STATE ROAD DEVELOPMENT CORPORATION
CASH FLOW AS ON 31st MARCH
-2286.18 -44335.23
16,733.69 -29597.92
27,853.07 57,446.99
44,585.38 27,853.07
Ratio
Liquidity Ratios
Current ratio
Acid-test Ratio
Leverage
Debt- equity Ratio
Debt-Ratio
Interest coverage Ratio
Turnover
Inventory turnover
Account Recivable Turnover
Fixed assets turnover
Total assets turnover
Profitability
Gross Profit margin
Net Profit margin
Return on assets
Earning power
Return on capital employed
Return on equity
Cash Flow Ratios
Cash flow from Operation to Net Income Ratio
Cash Flow from Investing to Operating and Financing
Operating Cash flow to Total Sales
Cash flow coverage ratio
Operations Cash Flow to Current Liabilities Ratio
Asset Efficiency Ratio
TIME SERIES ANALYSIS
Formula 2008
current assets/current liabilities 0.35
Quick assets/current liabilities 0.33
Debt/equity 3.21
Debt / Assets 0.75
Profit before interest and taxes/interest (1.90)
Net sales/Average Inventory
Net credit sales/average accounts receivables
Net sales/Average net fixed assets 0.06
Net sales/average total assets 0.043
Gross profit /Net sales
Net profit /Net sales -140.66%
Net profit /Average total assets -6.10%
PBIT/Average total assets -5.54%
PBIT(1-t)/Average total assets
Equity earnings/Average net worth -27.20%
Cash flow from operations/Net Income -1.08
Cash flow from investing/(cash flow from operations+cash flow from financing) -0.61
Cash flow from operations/total sales 1.51
Net income + depreciation and amortization/total debt payments -0.12
Cash flow from operations/Current liabilities 0.34
Cash flow from operations/Total assets 0.06
TIME SERIES ANALYSIS
2007
0.32
0.24
3.59
0.77
(1.87)
0.06
0.040
-121.79%
-4.89%
-4.80%
-21.78%
-1.12
3.61
1.08
-0.11
0.33
0.06
TIME SERIES ANALYSIS