balance sheet as at 31st march 2007 - damodargroup.comdamodargroup.com/pdf/pg-20-32 2006-07.pdf ·...

20

Schedule

SOURCES OF FUNDS :

SHAREHOLDERS FUND :

Share Capital 702.85 309.57

Reserves & Surplus 773.55 582.70

LOAN FUND :

Secured Loans 3,824.73 893.46

Unsecured Loan 1,070.12 426.82

DEFERRED TAX LIABILITIES (Net)

APPLICATION OF FUNDS :

FIXED ASSETS :

a) Gross Block 2,314.19 809.35

b) Less: Depreciation 189.27 271.96

c) Net Block

d)Capital Work-in-progress

INVESTMENTS

CURRENT ASSETS,

LOANS & ADVANCES

(a) Inventories 526.34 625.54

(b) Sundry Debtors 1158.54 976.87

(c) Cash & Bank Balances 104.58 30.47

(d) Loans & Advances 66.45 13.29

1855.90 1646.17

Less : CURRENT LIABILITIES

& PROVISIONS

(a) Current Liabilities 210.86 268.05

(b) Provisions 43.46 35.30

254.32 303.35

MISCELLANEOUS EXPENDITURE

(To the extent not written off or adjusted)

Expenditure on Increase of Share Capital

NOTES ON ACCOUNTS

A

B

C

D

TOTAL

E

F

G

H

TOTAL

P

As per our report of even date

For A.J.BALIYA & ASSOCIATES

Chartered Accountant

(A. J. Baliya) (Arunkumar Biyani)

Partner Chairman

(Ajay D. Biyani)

Managing Director

PLACE : MUMBAI

DATED :20th JUNE, 2007

For and On behalf of the Board

1,476.40

4,894.85

101.79

6,473.03

2,124.92

2,739.62

1.31

1601.58

5.60

6473.03

892.27

1,320.28

35.18

2,247.72

537.39

365.21

2.31

1342.82

0.00

2247.72

2004-052006-07

BALANCE SHEET AS AT 31ST MARCH 2007(Rs. in lakhs)

(Arunkumar Biyani)

Chairman

(Ajay D. Biyani)

Managing Director

21




(A. J. Baliya)

Partner

PLACE : MUMBAI


INCOME :

Sales

Export Sales

Other Income I

EXPENDITURE :

Materials Cost J

Manufacturing Expenses K

Employees Remuneration L

Administrative Expenses M

Selling & Distribution Expenses N

Interest O

Depreciation E

PROFIT FOR THE YEAR

Less: Provision For Tax

Current Provision

Fringe Benefit Tax

Deferred Tax

PROFIT AFTER TAX

Less: Prior Years Adjustments

Balance brought forward

BALANCE AVAILABLE FOR APPROPRIATION

Appropriation

Proposed Dividend

Tax On Dividend

Transfer to General ReserveBalance Carried to Balance Sheet

NOTES ON ACCOUNTS P

5,667.81

635.27

89.32

6,392.40

4,890.73

700.36

133.40

138.30

75.51

60.56

49.06

6,047.92

344.49

40.00

2.50

66.61

235.38

1.06

234.31

314.00

548.31

37.15

6.31

50.00

454.85

548.31

5,899.16

35.38

27.11

5,961.65

4,373.49

869.90

141.67

115.21

65.07

65.80

50.58

5,681.74

279.91

88.77

1.83

(3.43)

192.74

(1.21)

193.96

275.34

469.30

30.96

4.34

120.00

314.00

469.30

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED ON 31ST MARCH 2007

Schedule 2004-052006-07

(Rs. in lakhs)


22

SCHEDULES FORMING PART OF THE BALANCE SHEET AS AT 31ST MARCH 2007

SCHEDULE - A

SHARE CAPITAL

Authorised :

1,50,00,000 (Previous Year 50,00,000 ) Equity Shares of Rs. 10/- each 1500.00 500.00

Issued, Subscribed & Paid-up :

30,95,700 Equity Shares of Rs. 10/-

each fully paid up 309.57 309.57

(Of the above 4,00,000 Equity Shares

were allotted as fully paid-up Bonus

shares by capitalisation of balance

in Profit & Loss Account)

Share Application Money 393.28

702.85 309.57

SCHEDULE - B

RESERVES & SURPLUS :

General Reserve 150.00 30.00

Add:Transfer 50.00 120.00

200.00 150.00

Share Premium 118.70 118.70

Balance in Profit & Loss Account 454.85 314.00

773.55 582.70

SCHEDULE - C

SECURED LOANS :

Working Capital Loan from Bank of Baroda 451.72 799.87

(Secured by hypothecation of Stocks, Debtors

& personal guarantees of three Directors)

Working Capital Loan from State Bank of India (447.37) 0.00

(Secured by hypothecation of Stocks, Debtors

& personal guarantees of three Directors)

Term Loan from Bank of Baroda 1200.00 58.49

(Secured by hypothecation of Specific Machinery,

Stocks ,Debtors and Stores & Spares )

Term Loan from State Bank of India 2575.42 0.00

(Secured by hypothecation of Specific Machinery,

Stocks ,Debtors and Stores & Spares )

Loan from Life Insurance Corporation of India 34.23 22.94

(Against Keyman Insurance Policies taken on

three Directors)

Motor Car Loan From Sheba Properties Ltd. 5.59 9.14

(Secured by Hypothecation of a Motor car)

Motor Car Loan From ICICI Bank Ltd. 0.92 3.03


Motor Car Loan From HDFC Bank Ltd. 4.21 0.00


3,824.73 893.46

SCHEDULE - D

UNSECURED LOANS :

From Directors 674.71 324.65

From Inter-Corporate 196.34 102.17

From Others 144.49 0.00

Fixed Deposits from Public 54.58 0.00

1070.12 426.82

2004-052006-07

(Rs. in lakhs)

23

SCHEDULE - E

FIXED ASSETS

FIXED ASSETS

Addition Deduction As at Up to For the Deduction/As at

01/04/2006 31/03/2007 31/03/2006 year Adjustment

Up to

31/03/2007

As at

31/03/2007

As at

31/03/2006

FREEHOLD LAND

RESIDENTIAL FLATS

BUILDING

PLANT & MACHINERY

ELECTRICAL INST.

FURNITURE & FIXTURES

VEHICLES

AIR CONDITIONERS

GENERATORS

WEIGHING SCALE

OTHER EQUIPMENTS

COMPUTORS

OFFICE PREMISES

FURNITURE WIP

Total

112.02

1.93

123.09

157.94

36.76

31.10

34.79

6.48

10.62

1.22

12.24

9.19

-

-

537.39

Previous Year

112.02

2.14

171.50

312.82

52.81

35.38

46.97

7.77

16.47

1.46

20.04

29.98

-

-

809.35

649.17

16.20

-

529.74

895.29

421.26

0.54

13.89

0.93

-

-

51.29

3.01

-

-

1,932.13

179.82

5.79

-

174.66

159.10

44.21

21.84

-

-

1.75

-

-

19.95

-

-

427.29

19.64

122.43

2.14

526.58

1,049.01

429.86

14.07

60.86

8.70

14.72

1.46

71.33

13.04

-

-

2,314.19

809.35

-

0.21

48.41

154.87

16.04

4.28

12.18

1.29

5.85

0.24

7.80

20.79

-

-

271.96

224.22

-

0.03

4.55

29.46

2.50

1.80

4.50

0.39

0.78

0.07

1.05

3.93

-

-

49.06

50.58

-

-

52.37

36.73

17.28

4.94

-

-

0.71

-

-

19.71

-

-

131.75

2.85

-

0.24

0.58

147.61

1.26

1.14

16.68

1.69

5.92

0.31

8.85

5.01

-

-

189.27

271.96

Capital Work -in-Progress

122.43

1.89

526.00

901.40

428.60

12.94

44.18

7.01

8.80

1.15

62.48

8.03

-

-

2,124.92

537.39

2,739.62

GROSS BLOCK DEPRECIATION NET BLOCK

NOTES:

Details of Capital Work-in-Progress : (a) Cost of Factory Building work-in-progress including materials at site Rs.626.13 Lakhs (b) Cost of Plant under erection including electrical & other assets at site Rs. 1622.05 Lakhs (c) Advance against capital expenditure Rs. 352.08 Lakhs (d) Pre-operative expenses pending Capitalisation including Interest on borrowed capital Rs.139.36 Lakhs


2005-062006-07SCHEDULE - F

NON-TRADE INVESTMENT (AT COST)

Quoted (fully paid-up)

100 Equity Shares of Padmini

Technologies Ltd. of Rs.10/- each

100(Previous Year -200) Equity Shares of

Reliance Capital Ltd. of Rs. 10/- each

800 Equity Shares of Color Chip (I)

Ltd. of Rs. 10/- each

75 (Previous Year -100)Equity Shares of Bharat

Electronics Ltd. of Rs.10/- each

Nil (Previous Year 342) Equity Shares of

Bank of Baroda of Rs.10/- each

35 Equity Shares of DSQ

Software Ltd. of Rs.10/- each

40 Equity Shares of Penta Media

Graphics Ltd. of Rs.10/- each

Unquoted (fully paid-up)

10(Previous Year -Nil) Equity Shares of

Mogaveera C-op Bank Ltd. of Rs. 10/- each

Total

Aggregate Market Value of Quoted Investments

0.18

0.20

0.41

0.05

0.00

0.37

0.08

1.30

0.01

1.31

1.87

0.18

0.40

0.41

0.07

0.79

0.37

0.08

2.31

0.00

2.31

3.00

(Rs. in lakhs)

24

2004-052006-07


SCHEDULE - G

CURRENT ASSETS, LOANS & ADVANCES

Current Assets :

Inventories : (As per inventory taken, valued

and certified by a Chairman)

Raw Materials

Work in Process

Finished Goods

Packing Materials

Stores & Spares

Sundry Debtors : (Unsecured, considered good)

Outstanding for a period

Exceeding six months

Cash & Bank Balances :Cash on handIn current account

In Dividend Accounts

In Fixed Deposits including accrued interest

Loans and Advances : (Unsecured, considered good)

Advances recoverable in cash or in

kind or for value to be received

Advances to Suppliers

Deposits

Advance Income Tax(Net of Provision)

Custom Duty Entitlement (in Pass Book)

303.73

55.40

157.55

3.10

6.56

526.34

10.191.66

4.90

87.83

104.58

33.53

178.99

87.60

350.45

1.20

7.30

625.54

10.270.92

1.87

17.42

30.47

7.11

236.14

922.39

1158.54

30.80

946.06

976.87

4.55

17.09

11.22

0.06

66.45

0.00

21.02

-14.86

0.02

13.29

SCHEDULE - H

CURRENT LIABILITIES & PROVISIONSCurrent Liabilities :

Sundry Creditors :

For Goods 110.51 86.15

For Expenses 23.75 160.23

Other Liabilities 71.70 19.80

Unclaimed Dividend 4.90 1.87

210.86 268.05

PROVISIONSProposed Dividend 37.15 30.96

Tax on Dividend 6.31 4.34

43.46 35.30

(Rs. in lakhs)

25

2005-062006-07

SCHEDULES FORMING PART OF THE PROFIT & LOSS ACCOUNTFOR THE YEAR ENDED ON 31ST MARCH 2007

SCHEDULE - I

OTHER INCOMES :

Dividend 0.01 0.02

Commission 1.01 0.00

Profit on Sale of Fixed Assets 87.49 25.29

Profit on Sale of Investments 0.81 1.02

Custom Duty Entitlement (in Pass Book) 0.00 0.78

89.32 27.11

SCHEDULE - J

MATERIALS COST :

Raw Material Consumption :

Opening Stock 178.99 91.84

ADD: Purchases 3723.72 4,552.50

3902.71 4,644.34

LESS: Closing Stock 303.73 178.99

3598.98 4,465.35

Purchases for Trading 1066.65 -

Opening Stock of :

Work-In-Process 87.60 77.56

Finished Goods 350.45 268.63

438.05 346.19

Less : Closing Stock

Work-In-Process 55.40 87.60

Finished Goods 157.55 350.45

212.95 438.05

225.09 (91.85)

4890.73 4373.49

SCHEDULE - K

MANUFACTURING EXPENSES :

Stores & Spares

Packing Materials

Power & Fuel

Repairs & Maintenance :

Building

Plant & Machinery

Others

Factory Rent

Job Work Charges

SCHEDULE - L

EMPLOYEES' REMUNERATION :

Salaries, Wages , Bonus & allowances

Staff Welfare & Perquisites

Contribution to Provident Fund

Gratuity

House Rent

37.55

28.84

67.61

1.84

3.39

5.35

10.57

14.52

541.27

700.36

117.34

4.40

2.05

0.76

8.85

133.40

63.73

22.08

60.13

6.22

2.02

8.31

16.55

14.52

692.89

869.90

129.10

5.77

3.41

0.56

2.84

141.67

(Rs. in lakhs)

26

2005-062006-07

SCHEDULES FORMING PART OF THE PROFIT & LOSS ACCOUNT

FOR THE YEAR ENDED ON 31ST MARCH 2007

SCHEDULE - M

ADMINISTRATIVE EXPENSES :

Directors Remuneration 28.80 25.20

Directors House Rent/ Allowances 9.00 2.80

Directors Medical Allowances 0.18 0.12

Electricity Charges 3.30 3.16

Insurance 23.97 22.51

Postage & Telephone 17.33 12.42

Printing & Stationery 4.44 5.05

Professional & consultancy Charges 6.94 6.68

Security Charges 2.49 5.06

Advertisement 1.86 0.96

Bank Charges 4.97 2.92

Rent, Rates & Taxes 3.96 4.65

Sundry Expenses 4.09 3.92

Travelling & Conveyance 15.36 9.80

Vehicles Expenses 5.08 7.07

Repair & Maintenance : 0.00 0.00

Vehicles 4.16 2.03

Listing Fees 0.10 0.10

Directors Sitting Fees 0.13 0.15

Auditors Remuneration :

Audit Fees 0.63 0.50

Tax Audit 0.13 0.100.75 0.60

Expenditure on Increase of Share Capital w/off 1.40 0.00

138.30 115.21

SCHEDULE - N

SELLING & DISTRIBUTION EXPENSES :

Sales Promotion 2.67 0.42

Brokerage & Commission 13.36 7.68

Sample Expenses 3.09 3.35

Freight, Forwarding & Transport 51.33 49.66

Godown Rent 5.06 3.96

75.51 65.07

SCHEDULE - O

INTEREST :

Bank 60.56 51.66

Others (Net) 0.00 14.14

60.56 65.80

SCHEDULE -P

NOTES ON ACCOUNTS

1 Significant Accounting Policies:

i) Basis of Accounting :

All Income and expenditure items having a material bearing on the financial statements are recognised on

(Rs. in lakhs)

27

accrual basis, except the items in respect of which it is not possible to ascertain with reasonable accuracy the quantum thereof.

ii) Fixed Assets :

(i) All fixed assets are valued at cost less depreciation. Pre-operative expenses including trial run expenses (net of revenue) are capitalised .Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

(ii) Impairement loss ,if any is recognised in the year in which impairement takes place.

iii) Depreciation :

Depreciation on Fixed Assets is provided on Straight Line method at the rate and in the manner specified under Schedule XIV of the companies Act, 1956.

iv) Investments :

Investments are stated at cost. Dividend is accounted for when received.

v) Inventories :

Inventories are valued at the lower of cost or net realisable value.

vi) Miscellaneous Expenditure :

Expenses are being written off in equal installments over a period of five financial years.

vii) Gratuity /Retirement Benefits

(i) Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of India.

(ii) Leave encashment is accounted for on the basis of accumulated leave to the credit of employees at the year end.

viii) Sales :

Sales includes interest from debtors, export, incentive, claims, sale of wastage, job work charges but net of sales discount and sales returns. Sales excludes excise duty.

ix) Deferred Tax

Deferred Tax is accounted for by computing the the tax effect of timing differences which arise during the year and reverse in subsequent periods.

x) Transaction in Foreign Currency

Transaction in foreign currency are recorded at the rate of exchange in force on the respective date of such transactions. Foreign currency transaction remain unsettled as at the end of the year are translated at the year end /contracted rates .Exchange difference on repayment/conversion/translation are adjusted to

(i) Carrying cost of fixed assets, if forign currency liability relates to fixed assets.

(ii) the Profit & Loss account in other cases.

2) There was no amount due to small scale industrial undertaking at the close of the year. This disclosure is based on the document/information available to the Company regarding their status of the small scale undertakings.

3) During the year under review the Company has collected share application money amounting to Rs.2,53,28,400/-from promoters etc for the purpose of the issue of preferential shares. However due to statutary procedural non compliance by the Company the same could not be proceeded and therefore entire amount of Share Application money collected is refundable.

4) Licensed, Installed Capacities & Actual Production :

(As certified by the management)

Class of Goods Units of

Measure 31/03/2007 31/03/2006 31/03/2007 31/03/2006 31/03/2007 31/03/2006

Yarn Kgs. N.A. N.A. Not Ascertainable Not Ascertainable 3,564,732.96 3,767,508.07

Job Work(Yarn) Kgs. N.A. N.A. Not Ascertainable Not Ascertainable - 347,422.48

Fabrics Mtr. N.A. N.A. Not Ascertainable Not Ascertainable 388,775.10 880,886.69

Job Work (Fabric) Mtr. N.A. N.A. Not Ascertainable Not Ascertainable 956.45 9,609.90

Licensed Capacity Installed Capacity Actual Production

Qty.

59,749.25

229,164.33

Not Ascertainable

Not Ascertainable

2006-07 2005-065) Opening Stock :

Rs. Qty. Rs.

Yarn Kgs. 31,160,926 25,278,612

Fabrics Mtr. 3,883,701 24,380.60 1,584,739

Packing Material 120,450 75,340

Store & Spares 729,970 280,338

151,783.32

Not Ascertainable

Not Ascertainable

28

% Quantity Rs. % Quantity Rs.

93.24 3,431,409.12 329,742,002 99.24 4,055,960.69 442,507,161

6.76 248,932.32 30,156,480 0.76 31,056.00 4,027,341

100.00 3,680,341.44 359,898,482 100.00 4,087,016.69 446,534,502

Indigenous Not Ascertainable 3,754,778 Not Ascertainable 6,372,718

Indigenous Not Ascertainable 2,883,915 Not Ascertainable 2,208,586

17,011.15

27,915.09

726,336.64

390,528.50

84,192.17

Not Ascertainable

Not Ascertainable

6) Closing Stock :

Yarn Kgs. 12,310,790 31,160,926

Fabrics Mtr. 1,020,669 59,749.25 3,883,701

Yarn (Trading) Kgs. 2,424,008 - -

Packing Material 310,050 120,450

Store & Spares 655,750 729,970

8) Purchases for Trading

Yarn Kgs. 69,309,917 -

-

Fabric Mts. 37,355,546 - -

Total 106,665,463 -

9) Raw Material, Stores & Spare parts etc. consumed :

Yarn & Fibre ( in Kgs)

Indigenous

Imported

Total

Stores & Spares

Packing Materials

10) The Company is engaged in manufacturing and sale of Textile Products, which is the only reportable segment.

229,164.33

Not Ascertainable

Not Ascertainable

-

390,528.50

705,277.93

3,645,875.66

429,539.74

956.45

7) Sales :

Yarn Kgs. 493,389,494 531,984,034

Fabrics Mts. 25,860,283 58,446,307

Job Work(Yarn) - 347,422.48 2,919,518

Job Work (Fabric) Mts. 11,069 104,495

Fabric(Trading) Mts. 37,359,393

Yarn(Trading) Kgs. 68,612,250

Export Incentive 3,564,709

Foreign Exchange Rate Difference 1,510,911

Total 630,308,109 593,454,354

3,690,127.06

844,259.04

9,609.90

-

-

-

-

-

-

-

- Associates

- Associates

- Associates

- Associates

- Associates

- Associates

- Associates

- Associates

- Associates

- Associates

11) Related Party Disclosures

Key Managerial Personnel :

Name Designation

a. Shri Arun Kumar Biyani Chairman & Director

b. Shri Ajay D. Biyani Managing Director

c. Shri Anil D. Biyani Whole - Time Director

Associates & Relatives :

a. M/s. Damodar Overseas k. Mrs. Kanta Biyani - Relatives

b. M/s. Aman Industries l. Mr. Aman Biyani - Relatives

c. M/s. Syam Carriers m. Mr. Aditya Biyani - Relatives

d. M/s. Aditya Transporters n. Mr. Abhishek Biyani - Relatives

e. M/s. Arnar Synthetics Pvt. Ltd. o. Mr. Akshay Biyani - Relatives

f. M/s. Aman Synthetics Pvt. Ltd. p. Mrs. Manju Biyani - Relatives

g. M/s. Shree Damodar Silk Mills Pvt.Ltd. q. Mrs. Sanju Biyani - Relatives

h. Ajay Biyani HUF r. M/s. Samm Silk Mills - Associates

i. Arun Kumar Biayni HUF s. M/s. Panna Yarns Pvt. Ltd. - Associates

j. M/s. Suam Overseas Pvt. Ltd. t. M/s. CSS Mercantiles Pvt. Ltd. - Associates

u. Mr. Pawan Barasia - Relatives

29

Dosclosure of transactions between the Company and related parties and the status of outstanding balances as on 31st March ,2007.

37,225,686

111,051

-

12,884,823

-

31,822,101

-

310,993,544

186,064

2,520,000

280,000

11,727

748,800

80,000

1,568,434

85,882,180

13,445,160

-

713,179

-

85,156,257

-

208,644,369

3,498,260

2,880,000

900,000

18,134

660,000

48,000

771,408

32,465,187

186,064

2,520,000

280,000

11,727

-

-

-

-

-

-

-

67,470,640

-

-

-

-

2,092,589

2,880,000

900,000

18,134

-

-

-

18,411,540

13,445,160

713,179

85,156,257

1,405,671

-

-

-

660,000

48,000

771,408

208,644,369

2007

4,760,499

111,051

12,884,823

31,822,101

310,993,544

-

-

-

-

748,800

80,000

1,568,434

2006 2007 2006 2007 2006

Unsecured Loans

Sundry Debtors ,Loans & Advances

Current Liabilities

Sundry Creditors

Income

Sales

Expenditure

a) Purchase (including Job work)

b) Interest on Loan

c) Directors Remuneration

d) Directors House Rent/ Allowance

e) Directors Medical Allowance

f) Employees Remuneration

g) Rent {Net}

h) Freight, Forwarding & Transport

Total (Amt. In Rs.)

As of March 31 As of March 31 As of March 31

Associates & Relatives Key Management Personnel

12) Deferred Tax Liabilities(net) Deferred tax Current year Deferred tax

liability/asset as at charge/(credit) liability/asset as at

01/04/06 31/03/2007

Deferred tax liabilities Rs. Rs. Rs.

i) Depreciation 3,517,746 6,661,016 10,178,762

(A) 3,517,746 6,661,016 10,178,762

Deferred tax assets

i) Unabsorbed losses - - -

(B) - - -

Deferred tax liability (net) (A) - (B) 3,517,746 6,661,016 10,178,762

The impact of Deferred Tax Liability of Rs. 6,661,016/- for the year ended 31.3.2007 has been debited to Profit and Loss Account.

(in Rs.) (in Rs.)

13) Remuneration to Directors 2006-07 2005-06

Salary 2,880,000 2,520,000

Medical Allowances 18,134 11,727

House Rent /Allowances 900,000 280,000

14) FOB Value Of Exports

Yarn 63,526,910 3,538,170

15) C I F Value of Imports

Yarn 28,674,733 4,027,341

16) Expenditure In Foreign Currency

Travelling 89,000 134,520

17) Earning Per Share : 2006-07 2005-06

Basic 7.57

6.27

Diluted 7.57 6.27

30

18)

19) Comparative figures for previous year have been regrouped / rearranged wherever necessary.

20) Additional informaton as required under Part IV of Schedule VI to the Companies Act, 1956.Balance Sheet Abstract and Company General Business Profiles :

I. Registration Details :

Registration No.

State Code

Balance Sheet Date

II. Capital Raised during the year

Public Issue

Rights Issue

Bonus Issue

Private Placement (Promotor)

Balance in respect of Unsecured loans. Sundry Creditors, Sundry Debtors and Loans & Advances are subject to confirmation by respective parties.

45575

011

31/03/2007

Nil

Nil

Nil

Nil

III. Position of Mobilisation and Development of Funds :

Total Liabilities

Total Assets

672,735

672,735

Sources of Funds :

Paid up capital icluding Share application money

Reserves & Surplus

Secured Loans

Unsecured Loans

Deferred Tax Liabilities

70,285

77,355

382,473

107,012

10,179

(Amt. Rs. in Thousand)

Application of Funds :

Net Fixed Assets

Capital Work in Progress

212,492

273,962

Investments

Net Current Assets

Miscellaneous Expenditure

131

160,158

560

IV. Performance of Company

Turnover (Gross Revenue)

Total Expenditure

Profit Before Tax

Profit After Tax

Earning per Shares (Rs.)

V. Generic Terms of Three Principal Products/Services of Company

(As per monetary terms)

Item Code No. : (ITC Code)

Product Description

Signatories to Schedules A to P




(A. J. Baliya)

Partner

PLACE : MUMBAI


540233

Multiple folded fancy yarn and fabrics.

639,240

604,792

34,449

23,431

7.57


(Arunkumar Biyani)

Chairman

(Ajay D. Biyani)

Managing Director

31

CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH 2007

2005-062006-07

A. CASH FLOW FROM

OPERATING ACTIVITIES

Net Profit Before Tax & Extra- ordinary Items 344.49 279.91

Adjustment for :

Depreciation 49.06 50.58

Interest 60.56 66.63

Dividend (0.01) (0.02)

Profit On Sale Of Fixed Assets (87.49) (25.29)

Profit on sale of Investments (0.81) (1.02)

Expenditure on Increase of Share Capital w/off 1.40

22.71 90.88

Operating Profit Before Working

Capital Changes 367.20 370.80

Adjustment for :

Trade & Other Receivable (208.75) (307.64)

Inventories 99.20 (183.95)

Trade Payable (60.23) 97.23

(169.78) (394.37)

Cash generated from Operations 197.42 (23.58)

Interest paid (60.56) (66.63)

Direct Tax paid(net) (68.58) (52.72)

Cash flow before Extra-Ordinary Items 68.28 (142.93)

Prior Years Tax Adjustments 1.06 1.21

Net Cash from Operating Activities A 67.22 (141.71)

B. CASH FLOW FROM

INVESTING ACTIVITIES :

Purchases of Fixed Assets including Capital Work-in-Progress (4,306.54) (543.85)

Sale of Fixed Assets 383.04 40.91

(Purchase)/Sale of Investments 1.81 0.84

Dividend Received 0.01 0.02

Net Cash used in Investing

Activities B (3,921.69) (502.09)

C. CASH FLOW FROM

FINANCING ACTIVITIES

Proceeds from Borrowings & Fixed deposits 3,574.57 678.87

Dividend (27.92) (31.07)

Share application 393.28 -

Expenditure on increase of share

capital (7.00) -

Tax on Dividend (4.34) (4.05)

Net Cash used in Financing Activities C 3,928.58 643.76

Net increase in cash and cash equivalents (A+B+C) 74.10

(0.04) Opening Balance of Cash & Cash

Equivalents

30.47

30.51

Closing Balance of Cash & Cash Equivalents 104.58 30.47



(A. J. Baliya)

Partner

PLACE : MUMBAI


(Rs. in lakhs)


(Arunkumar Biyani)

Chairman

(Ajay D. Biyani)

Managing Director

32

AUDITORS CERTIFICATE

TO

The Board of Directors

M/S Damodar Threads Limited ,

A-1/202 ,Centre Point,

243-A, N.M. Joshi Marg ,Lower Parel (E),

Mumbai - 400 013

We have examined the attached Cash Flow statement of Damodar Threads Limited for the year ended 31st

March, 2007. The Statement has been prepared by the Company in accordence with the requirements of

the Clause 32 of Listing Agreement with the Stock Exchanges and is based on and in agreement with the

corresponding Profit & Loss Account and Balance Sheet of the company covered by our report of even

date to the members of the Company.



(A. J. Baliya)

Partner

PLACE : MUMBAI

DATED : 20th JUNE, 2007

balance sheet as at 31st march 2007 - damodargroup.comdamodargroup.com/pdf/pg-20-32 2006-07.pdf ·...

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