gayatri projects limited - Edelweiss

Banksi) Term Lenders (PNB and Andhara Bank) Reduction of rate of Interest to PLR with effect from cut off date Defer/ convert/waive the interst payable for the year 2003-04ii) Reschdule the term loan outstanding on cut off date in 20 quarterly instalments from april 1, 2004 Release the amount credited in the escrow account for the year 2003-04Working Capital (State Bank Of India, Bank of Baroda, Punjab National Bank, Andhara Bank)To reduce the rate on interest on working capital borrowing from existing levels to PLR.The performance of the company as compared to the CDR projections are as under:(Rs. in lakhs)Particulars Projected Actual Projected ActualPerformance as Performance Performance Performanceper CDR 2004-05 for the Year as per CDR for the Year2004-05 2005-06 2005-06(Audited)(audited Results)Installed Capacity 3500 TCD 3500 TCD 3500 TCD 3500 TCDCapacity Utilisation 88% 80% 88% 90%Production MT 48510 33103 48510 47985Gross Sales Rs. In lakhs 7016 7590 6858 9022PBIDT 937 1656 1210 1955Total Interest 790 693 767 629Operating Profit (99) 515 (3) 941PBT (285) 520 11 966Net Cash Accurals 161 839 457 12912. M/s. Gayatri Starchkem LimitedThe Company was originally incorporated on December 2, 1991 in the state of Andhra Pradesh, under the nameof Starchem Industries Limited. It was granted Certificate of Commencement of business on December 13, 1991.The name of the company was changed to the present name viz. Gayatri Starchkem Limited vide fresh Certificateof Incorporation dated October 24, 1997. The Company is engaged in manufacturing of sorbitol, starch and alliedproducts.Shareholding Pattern as on June 30, 2006Sr. No. Name of the Shareholder No. of Equity Shares heldIndian Promoters1 Mr. T V Sandeep Kumar Reddy 55,94,6202 Mrs. T. Sarita Reddy 5,0003 Others 304 Gayatri Capital Limited 25,00,34081