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2005-06 2006-07 2007-08 2008-09 2009-10 2010-11

NET PROFIT AFTER TAX 250.05 523.68 545.23 566.78 588.34 605.7

DEPRECIATION 375.58 393.58 411.58 429.58 447.58 465.

INTEREST ON TERM LOAN 395.02 388.74 349.19 309.64 270.08 234.6

(A) 1,020.65 1,306.00 1,306.00 1,306.00 1,306.00 1,306.0

INTEREST ON TERM LOAN 395.02 388.74 349.19 309.64 270.08 234.6

TERM LOAN REPAYMENT 364.48 463.48 463.48 463.48 463.48 388.4

(B) 759.50 852.22 812.67 773.12 733.56 623.

DEBT SERVICE COVERAGE RATIO 1.34 1.53 1.61 1.69 1.78 2.

AVERAGE DSCR 1.72

GEM SPINNERS INDIA LIMITED

AVERAGE DEBT SERVICE COVERAGE RATIO

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Actuals Actuals Estimate Pro

31.3.2004 31.03.2005 31.03.2006 31.

1. GROSS SALES

~~~~~~~~~~~

(i) Export Sales 2536.90 2700.55 3045.16

(ii) Domestic Sales 2650.54 2252.79 2286.76

Total 5187.44 4953.34 5331.92

Sales - Quantity in M.ton 2776.00 2787.00 3060.00

Avg. rate /kg in Rs. 186.87 177.73 174.25

2. Less Excise duty

3. Net Sales (1-2) 5187.44 4953.34 5331.92

4. %age rise (+/-)in net sales

as compared to previous year

5. COST OF SALES

~~~~~~~~~~~~~

(i) Raw materials(including storesand other items used in the

process of manufacture)

(a) Imported 0.00 0.00

(b) I di 2621 70 2604 74 2825 92


ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

FORM - II - Operating Statement

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Actuals Actuals Estimate P

31.3.2004 31.03.2005 31.03.2006 3

BROUGHT FORWARD TOTAL 4416.40 4341.44 4604.50

xi) Add: Opening stock of Finished Goods 208.10 154.60 183.63

SUB-TOTAL 4624.50 4496.04 4788.13

Xii) Deduct closing stock

finished goods 154.60 183.63 200.00

xiii) SUB-TOTAL (Cost of Sales) 4469.90 4312.41 4588.13

6. Selling, general and

administrative expenses 346.92 316.72 338.72

7. SUB TOTAL 4816.82 4629.13 4926.85

8. Operating profit (3-7) 370.62 324.21 405.07

9. Interest 493.62 465.97 395.02

10.Operating profit (8-9)

(After interest) -123.00 -141.76 10.05

11.i.ADD:Other nonoperating income

a) Misc.income 26.69 40.09 225.00

b) Trading activities 368.57 941.18 500.00

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L I A B I L I T I E S

31.03.2004 31.03.2005 31.03.2006 3

CURRENT LIABILITIES

1. Short-term borrowings from

banks (incl. bills purchased,

discounted & excess borrowings

placed on repayment basis)

(i) From applicant bank-WC 1387.09 1184.36 1000.00

(ii) From other banks 298.94 260.60 300.00

(iii) (of which BP & BD) 650.00 785.00 600.00

SUB TOTAL (A) 2336.03 2229.96 1900.00

2. Short term borrowings

from others 0.00 0.00 245.00

3. Sundry Creditors [Trade] 251.93 232.35 250.00

4. Advance Payments from

ANALYSIS OF BALANCE SHEET

FORM - III

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GEM SPINNERS INDIA LIMITEDActuals Actuals Estimate P

31.03.2004 31.03.2005 31.03.2006 3

TERM LIABILITIES

11. Debentures[not maturing within

one year]

12. Preference Shares[redeemable after one year] 0.00 0.00 0.00

13. Term loans[excluding instal-

ments payable within one year] 2720.41 2355.93 2192.45

14. Deferred Payments Credits

[excldg. instalments due 269.50 160.32 50.32

within one year]

15. Term deposits [repayable after

one year] 284.66 469.23 845.37

16. Other term liabilities

17. TOTAL TERM LIABILITIES 3274.57 2985.48 3088.14

[Total of 11 to 16]

18. TOTAL OUTSIDE LIABILITIES 6856.19 6643.10 6576.14

[10 + 17]

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31.03.2004 31.03.2005 31.03.2006 3

A S S E T S

~~~~~~~~~~~

CURRENT ASSETS

~~~~~~~~~~~~~~

26. Cash and bank balances 9.11 11.28 22.92

27.Investments [other than longterm investments]

i) Government & Other Trustee

securities

ii) Fixed deposits with banks 177.62 219.22 150.00

28. i) Receivables other than

deferred & exports [incl.] 500.00bills purchased\discounted by banks]

by banks

ii) Export receivables [incl.

bills purchased\discounted 1095.39 1199.58 600.00

by banks]

29. Instalments of deferred re-

ceivables[due within one year]

30. Inventory:

i) R t i l [i l di

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F I X E D A S S E T S Actuals Actuals Estimate p

31.03.2004 31.03.2005 31.03.2006 3

35. Gross Block [land & building

machinery, work-in-progress] 7265.12 7365.92 7355.92

36. Depreciation to date 3447.90 3817.98 4193.56

37. NET BLOCK [35-36] 3817.22 3547.94 3162.36

OTHER NON-CURRENT ASSETS

~~~~~~~~~~~~~~~~~~~~~~~~

38. Investments/book debts/

advances/deposits which are

not Current Assets

[i] a] Investments in sub-

sidiary companies/

affiliates

b] Others 80.32 98.61 84.26

[ii] Advances to suppliers of

Capital goods &contractors

[iii] Deferred receivables

maturity exceeding one year

[iv] Others

39. Non-consumable stores & spares

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A. CURRENT ASSETS 31.3.2004 31.03.2005 31.03.2006 3

1. Raw materials (including stores

& other items used in the pro-

cess of manufacture)

a) Imported: 0.00 0.00 325.00

Months consumption: 0.00 0.00

b) Indigeneous: 1444.35 1156.49 1590.77

Months consumption: 6.61 5.33 6.76

2. Other consumable spares, exclu-ding those included in 1 above.

a) Imported 69.50 83.10 85.00

Months consumption:

b) Indigeneous

Months consumption:

3. Stocks-in-process: 71.15 56.92 65.00

Months cost of production: 0.19 0.16 0.17

4. Finished goods 154.60 183.63 200.00

Months cost of sales: 0.42 0.51 0.52

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

FORM IV

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B. CURRENT LIABILITIES

~~~~~~~~~~~~~~~~~~~~~~

[Other than bank borrowings for Actuals Actuals Estimate P

working capital) 31.3.2004 31.3.2005 31.03.2006 3

10. Creditors for purcahse of raw

materials, stores & consumable 251.93 232.35 250.00

spares Months purchase:

11. Advances from customers

12. Statutory liabilities 0.00

13. Other current liabilities

(specify major items) ShortTerm borrowings, unsecured

loans, dividend payable instal-

ments of TL, DPG, public 993.66 1195.31 1338.00

deposits, debentures, etc.

14. TOTAL 1245.59 1427.66 1588.00

(To agree with subtotal B-Form iii)

FORM IV

(CONTINUED)

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

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Actuals Actuals Estimate Pro

31.3.2004 31.03.2005 31.03.2006 31.

1. Total Current Assets

(9 in form 1V) 2267.60 2145.82 3341.35

2. Other Current Liabilities

(Other than bank borrowing)

(14 of Form 1V) 1245.59 1427.66 1588.00

3.Working Capital Gap WCG) (1 2) 1022.01 718.16 1753.35

4. Min. stipulated net working

Capital i.e, 25% of WCG\ 25%

of total current assets as the

case may be depending upon 255.50 179.54 438.34

the method of lending being

applied.

(Export receivables to be

execluded under both methods)

5. Actual \ projected net

working capital (45 in Form 111) -218.63 -312.22 453.35

F O R M - V

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE

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P A G E - 10

GEM SPINNERS INDIA LIMITED Rs. In Lacs

ACTUAL Estimate PROJECTION

31.03.2005 31.03.2006 31.03.2007

1. SOURCES

~~~~~~~

a) Net profit (after tax) -95.91 250.05 523.68

b) Depreciation 370.08 375.58 393.58

c) Increase in capital 27.50 0.00 0.00

d) Increase in Term Liabilities(Incldg. public deposits) 102.66 0.00

e) Decrease in

i) Fixed Assets

ii) Other non-current assets -18.29 14.35 29.26

f) Others 12.93 12.93 1.48

g) T O T A L 296.31 755.57 948.00

2 U S E S

FUND FLOW STATEMENT

FORM - VI

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P A G E - 11

GEM SPINNERS INDIA LIMITED Rs. In Lacs

ACTUAL Estimate PROJECTION

31.03.2005 31.03.2006 31.03.2007

3. Long Term Surplus(+)\Deficit(-) -93.58 765.57 434.20

(1-2)

4. Increase\decrease in current

assets *(as per details given

below) -17.59 595.95 -42.06

5. Increase\decrease in current

liabilities other than Bank 182.07 160.34 -476.26

borrowings

6. Increase\decrease in

working capital gap -199.66 435.61 434.20

7. Net surplus (+)\deficit(-)

(Difference of 3 & 6) 106.08 329.96 0.00

8. Increase\decrease in Bank

Borrowings -106.07 -329.96 0.00

INCREASE\DECREASE IN NET SALES -234.10 378.58 513.24

Break-up of (4)

~~~~~~~~~~~~~~~i) Increase\Decrease in Raw

Materials -287.86 759.28 -115.77

ii) I \D i

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2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11

Opening Balance 3,355.23 2,965.76 2,720.41 2,655.93 2,192.45 1,728.97 1,265.49 802.01

Add:

Fresh Term loan 300.00

3,355.23 2,965.76 3,020.41 2,655.93 2,192.45 1,728.97 1,265.49 802.01

- - - - - -

Less: Repayment 389.47 245.35 364.48 463.48 463.48 463.48 463.48 388.48

Closing balance 2,965.76 2,720.41 2,655.93 2,192.45 1,728.97 1,265.49 802.01 413.53

Shown as CL

Repayment of

Fresh term loan - - 75.00 75.00 75.00 75.00 - -

Existing TL 245.35 364.48 388.48 388.48 388.48 388.48 388.48 388.53

Shown as TL 2,720.41 2,355.93 2,192.45 1,728.97 1,265.49 802.01 413.53 25.00

TERM LOAN SHCEDULE

Gem Spinners India Ltd

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2011-12

413.53

413.53

-

388.53

25.00

-

-

25.00

Documents

Copy of 13_cma Final-13.02.06