---------------

---- in Rs.
Profit & Loss account of Alok
Cr.
Industries
---------------
----
Mar '01 Mar '02 Mar '03 Mar '04 Mar '05 Mar '06 Mar '07
Income

Sales Turnover 444.64 566.43 797.86 1,135.62 1,318.66 1,472.95 1,878.60

Excise Duty 1.34 1.47 5.36 73.25 89.33 53.47 53.49

Net Sales 443.3 564.96 792.5 1,062.37 1,229.33 1,419.48 1,825.11

Other Income -0.27 0.37 0.38 4.86 10.14 13.14 86.86

Stock Adjustments 19.52 32.97 40.67 -21.7 72.75 20.59 65.33

Total Income 462.55 598.3 833.55 1,045.53 1,312.22 1,453.21 1,977.30

Expenditure

Raw Materials 348.19 452.62 608.85 717.71 866.61 905.59 1,161.40

Power & Fuel Cost 12.93 13.47 17.3 26.85 49.59 66.79 89.74

Employee Cost 5.74 7.98 9.83 16.49 24.27 30.44 50.37

Other Manufacturing Expenses 14.27 16.21 11.86 13.41 22.76 28.81 41.46

Selling and Admin Expenses 3.03 5.03 7.54 24.13 39.67 54.53 78.5

Miscellaneous Expenses 2.1 0.81 39.05 48.45 59.26 54.34 60.61

Preoperative Exp Capitalised 0 0 0 0 0 0 0

Total Expenses 386.26 496.12 694.43 847.04 1,062.16 1,140.50 1,482.08

Mar '01 Mar '02 Mar '03 Mar '04 Mar '05 Mar '06 Mar '07

Operating Profit 76.56 101.81 138.74 193.63 239.92 299.57 408.36

PBDIT 76.29 102.18 139.12 198.49 250.06 312.71 495.22

Interest 32.44 43.21 53.49 68.46 69.12 78.23 141.8
PBDT 43.85 58.97 85.63 130.03 180.94 234.48 353.42

Depreciation 11.1 15.74 25.42 38.28 57.56 80.48 123.04

Other Written Off 0.77 0.78 0.85 1.15 0 0 0

Profit Before Tax 31.98 42.45 59.36 90.6 123.38 154 230.38

Extra-ordinary items 0 -0.4 -21.02 -3.75 -0.07 2.16 2.16

PBT (Post Extra-ord Items) 31.98 42.05 38.34 86.85 123.31 156.16 232.54

Tax 2.5 4.54 17.05 18.63 34.26 44.79 67.45

Reported Net Profit 29.47 37.91 21.29 71.08 89.25 109.21 164.86

Total Value Addition 38.07 43.5 85.58 129.33 195.55 234.91 320.68

Preference Dividend 0 0 0.6 1.56 8.47 7.59 0.74

Equity Dividend 3.58 3.21 5.69 8.77 16.07 18.9 23.85

Corporate Dividend Tax 0.57 0.05 0.75 1.32 3.38 3.71 4.16

Per share data (annualised)

Shares in issue (lakhs) 283.5 422.91 876.92 882.31 1,340.17 1,574.68 1,703.72

Earning Per Share (Rs) 10.39 8.96 2.36 7.88 6.03 6.45 9.63

Equity Dividend (%) 10 10 10 10 12 12 14

Book Value (Rs) 47.26 43.78 28.56 34.71 44.38 51.28 60.13

COST OF EQUITY CAPITAL 16.81 15.07 26.71 41.17 75.45 88.73 111.97
 Mar '08 Mar '09

2,233.70 3,011.71

68.49 38.26

2,165.21 2,973.45

166.11 78.29

101.44 385.67

2,432.76 3,437.41

1,291.13 1,937.09

121.55 211.89

83.61 117.45

55.68 61.43

80.75 108.76

88.99 111.83

0 0

1,721.71 2,548.45

Mar '08 Mar '09

544.94 810.67

711.05 888.96
242.82 370.55
468.23 518.41

161.96 233.5

0 0

306.27 284.91

0.62 -0.49
 306.89 284.42

98.93 95.88

198.66 188.37

430.58 611.36

0 0

22.46 14.77

3.82 2.51

1,871.75 1,969.75

10.61 9.56

12 7.5

70.59 81.03

105.45 69.34
 ---------------
---- in Rs.
Balance Sheet of Alok Industries Cr.
---------------
----
Mar '01 Mar '02 Mar '03 Mar '04 Mar '05 Mar '06 Mar '07
Total Share Capital 34.55 47.89 92.69 171.9 218.35 225.47 170.37
Equity Share Capital 28.35 42.29 87.69 88.23 134.02 157.47 170.37

Share Application Money 0 0 0 21.42 3.32 0 0

Preference Share Capital 6.2 5.6 5 83.67 84.33 68 0

Reserves 105.63 142.85 162.73 218 460.73 650.06 854.07

Revaluation Reserves 0 0 0 0 0 0 0

Networth 140.18 190.74 255.42 411.32 682.4 875.53 1,024.44

Secured Loans 273.84 419.29 493.79 747.68 1,239.51 1,800.21 2,833.05

Unsecured Loans 34.6 28.66 50.38 70.74 79.4 344.29 503.71

Total Debt 308.44 447.95 544.17 818.42 1,318.91 2,144.50 3,336.76

Total Liabilities 448.62 638.69 799.59 1,229.74 2,001.31 3,020.03 4,361.20

Operating Profit 76.56 101.81 138.74 193.63 239.92 299.57 408.36

PBDIT 76.29 102.18 139.12 198.49 250.06 312.71 495.22
Interest 32.44 43.21 53.49 68.46 69.12 78.23 141.8
PBDT 43.85 58.97 85.63 130.03 180.94 234.48 353.42

Preference Dividend 0 0 0.6 1.56 8.47 7.59 0.74

COST OF DEBT = (I/NP)*100 11.85 10.31 10.83 9.16 5.58 4.35 5.01

COST OF PREFERENCE CAPITAL 0.00 0.00 12.00 1.86 10.04 11.16 0.00
(DP/NP)*100
 Mar '08 Mar '09
187.17 196.97
187.17 196.97

110.16 147.7

0 0
1,134.01 1,399.19

0 0

1,431.34 1,743.86
4,824.15 6,256.24

943.16 340.11

5,767.31 6,596.35

7,198.65 8,340.21

544.94 810.67
711.05 888.96
242.82 370.55
468.23 518.41

0 0

5.03 5.92

0.00 0.00
COST OF DEBT = (I/NP)*100 11.85 10.31 10.83 9.16 5.58 4.35 5.01

COST OF PREFERENCE CAPITAL 0 0 12 1.86 10.04 11.16 0

(DP/NP)*100

COST OF EQUITY CAPITAL 16.81 15.07 26.11 41.17 75.45 88.73 111.97

Equity Share Capital 28.35 42.29 87.69 88.23 134.02 157.47 170.37

Preference Share Capital 6.2 5.6 5 83.67 84.33 68 0

Total Debt 273.84 419.29 493.79 747.68 1,239.51 1,800.21 2,833.05

9.19 9.05 14.95 9.59 9.19 7.77 5.67

2.01 1.20 0.85 9.10 5.78 3.36 0.00

88.80 89.75 84.20 81.31 85.02 88.87 94.33

weighted average cost 16.02 14.46 23.71 34.52 65.24 79.57 105.90
 5.03 5.92

0 0

105.45 69.34

187.17 196.97

0 0

4,824.15 6,256.24

3.73 3.05

0.00 0.00

96.27 96.95

101.70 67.40