gayatri projects limited - Edelweiss

GAYATRI PROJECTS LIMITEDBrief Financials(Rs. in Lakhs)Particulars 2003-04 2004-05 2005-06Sales 12.00 13.15 15.03Other Income* - - -Profit After Tax 0.81 0.27 0.42Equity Share Capital 150.00 150.00 150.00Reserves & Surplus (excl revaluation reserves and deferred tax reserve) 39.49 39.76 40.18Earning Per Share (Rs.) 0.05 0.02 0.03Book Value/ Share (Rs.) 0.16 0.18 0.20Net Worth 2.38 2.64 3.07* The Company is not undertaking any manufacturing activity. The present activity of the Company is only ITrelated.The equity shares of Gayatri Tissues & Paper Limited are listed at Bombay Stock Exchange Limited. The trading ofthe equity shares has been suspended by the Bombay Stock Exchange Ltd. on December 21, 2004 for non-filingof periodical returns to comply with the Listing agreement like non filing of the Secretarial audit reports, disclosurerequirement under regulation 8(3) of SEBI (Substantial Acquisition of shares & Takeover) Regulations, 1997, intimationof book closure, certificate from practicing Company Secretary etc. The Company received number of show-causenotices and reminders in the past in respect of non-submission of periodical returns. The company complied withthe Stock Exchange requirement on March 2, 2006 to get revocation of suspension, however, BSE infomed thecompany that they will consider re-listing once the company starts commercial operations.4. M/s Gayatri Capital LimitedThe Company was originally incorporated on November 23, 1990 under the name of Chodavarapu Finance PrivateLimited vide registration number: 01-12021 in the state of Andhra Pradesh. It became a Deemed public companyu/s 43A of The Companies Act 1956, w.e.f. from April 12, 1991. It deleted the words “Private” from its name w.e.f.November 17,1993 u/s 43A of The Companies Act, 1956. The name of the company was changed to GayatriCapitals Limited vide Fresh Certificate of Registration dated November 24, 1994. The name of the company wasfurther changed to Gayatri Capital Limited vide Fresh Certificate of Registration dated July 7, 1995. The Companywas converted from Deemed Public Company to Public Company by issue of Fresh Certificate of Registration datedMarch 1, 1996.The company was incorporated to carry on the business of stock broking, investment, financing and allied activity.The company is registered with SEBI under Stock Brokers and Sub Brokers Regulations, 1992 as Trading Memberof National Stock Exchange of India vide registration No. INB230885534 dated Feburary 27, 1996. The registrationis in force as on date and the Company has paid all fees upto date. The company was previously having Category- II Merchant Banking license which expired in July, 1998. The Company has not renewed the same as it decidedto discontinue merchant banking activity. As a member of National Stock Exchange of India Limited, Gayatri CapitalLimtied received show cause notice from NSE regarding complaints received by them in respect of non payment ofdues, non-receipt of funds on sale of securities and non receipt of securities for its clients and for violation ofregulation in respect of dealing on behalf of unregistered intermediary. The company has paid penalty of Rs.25,000/- to the Stock Exchange. Further the management with a view to discontinue the business of stock tradinghas already sold off the business to Motilal Oswal Securities Limited vide agreement dated Feburary 15, 2005 andin a process to surrender its registration. The company had vide letter dated June 29, 2006 applied to NSE forsurrendering of its trading membership.84