gayatri projects limited - Edelweiss

9. Our Promoter Group Companies have negative net worthThe following promoter group companies have negative net worth for financial year ended March 31, 2005and 2006:(Rs. In Lakhs)Sl.No. Name of the Company 2004-05 2005-061. Gayatri Starchkem Limited (7618.97) (5496.21)2 Gayatri Leasefin Private Limited (121.45) Not available3 Gayatri Telesoft Limited (495.75) (587.31)4 Gayatri Interactive Limited (64.84) (65.88)5 Gayatri Digisoft Technologies Limited (118.95) (117.71)6 T.Gayatri Engineering Company Private Limited (26.57) (27.01)7 Shankari Engineering Private Limited (0.27) Not available8 Maheswari Film Production Private Limited (0.35) 0.629 Gayatri Digital Images Limited (0.06) 4.8510 T S R Power Private Limited (12.89) (12.98)11 T.Rajeev Reddy Real Estate Developers Privated Limited 0.76 (0.55)10. There were deviations in the performance vis-à-vis projections made by Gayatri Sugars Limited andGayatri Starchkem Limited, promoter group companies in previous issues.Gayatri Starchkem Limited and Gayatri Sugars Limited made their public issue in April, 1994 and November,1997 respectively. There were deviations in the performance vis-à-vis projections made by them.a) Gayatri Starchkem Limited (erstwhile Starchkem Limited) came out with a public issue of 54,00,000equity shares of Rs. 10/- each for cash at par aggregating to Rs. 540 lakhs in April, 1994. The actualperformance achieved by the Company against the projections mentioned in the Offer Document areas under :(Rs.in lakhs)1995-96 1996-97 1997-98 1998-99 1999-2000I Operating Year II Year III year IV year V YearProjected Actual Projected Actual Projected Actual Projected Actual Projected ActualInstalled Capacity 8550 - 8550 8550 8550 8550 8550 8550 8550 8550Capacity Utilisation 60% 70%* 70% 70% 80% 82% 80% 77.5% 80% 78%Production 5130 807 5985 4382 6840 7081 6840 6630 6840 6635Sales & Other Income 1247 186 1455 1061 1663 1742 1663 1706 1663 2817Profit before Interest,Depreciation & Tax 565 80 659 (579) 754 (536) 751 (961) 749 (2197)Interest 290 52 302 342 292 388 248 479 204 897Depreciation 200 19 200 122 200 131 200 166 200 267Profit before Tax 71 9 153 (359) 258 (278) 299 (648) 341 (1482)Profit After Tax 71 9 153 (359) 258 (278) 299 (648) 333 (1567)Dividend - - - 203 - 243 - 243 -Equity Share Capital 1350 1350 1350 1350 1350 1450 1350 1450 1350 1450Reserves & Surplus 71 - 224 - 279 - 335 7.50 425 10EPS (Rs.) 0.53 - 1.13 - 1.91 - 2.21 - 2.46 -Book Value(Rs.) 10.53 10 11.66 10 12.07 10 12.48 10 13.15 10* Only two months of operation.vii