gayatri projects limited - Edelweiss

(Rs. in lakhs)Financial Year 2001-02 2002-03 2003-04 2004-05 2005-06Net Tangible Assets 6977.05 7683.37 8346.15 9068.38 11099.14Monetary Assets 2636.31 2669.28 2798.85 3565.84 4613.87Distributable Profits (as restated) 671.28 723.29 523.47 895.21 1807.97Net Worth (as restated) 5764.37 6339.02 6920.38 7654.30 9269.21(1) Net Tangible Assets are defined as the sum of fixed assets (including capital work in progress and excludingrevaluation reserves, if any), trade investments, current assets (excluding deferred tax assets) less current liabilities(excluding deferred tax liabilities) and secured as well as unsecured long term liabilities and non-trade investments.(2) Monetary Assets are defined as the sum of cash on hand, Non Trade Investments, Balance with Scheduled Bankin Current accounts and Fixed Deposits and balance with Post Office Savings account.(3) Net Worth includes equity share capital and reserves (net off miscellaneous expenditure not written off)DISCLAIMER CLAUSEAS REQUIRED, A COPY OF THE RED HERRING PROSPECTUS HAS BEEN SUBMITTED TO SEBI. IT IS TO BEDISTINCTLY UNDERSTOOD THAT SUBMISSION OF THE RED HERRING PROSPECTUS TO SEBI SHOULD NOT IN ANYWAY BE DEEMED OR CONSTRUED TO MEAN THAT THE SAME HAS BEEN CLEARED OR APPROVED BY SEBI. SEBIDOES NOT TAKE ANY RESPONSIBILITY EITHER FOR THE FINANCIAL SOUNDNESS OF ANY SCHEME OR THE PROJECTFOR WHICH THIS OFFER IS PROPOSED TO BE MADE OR FOR THE CORRECTNESS OF THE STATEMENTS MADE OROPINIONS EXPRESSED IN THE RED HERRING PROSPECTUS. THE BOOK RUNNING LEAD MANAGER, ALLIANZSECURITIES LIMITED HAS CERTIFIED THAT THE DISCLOSURES MADE IN THE RED HERRING PROSPECTUS AREGENERALLY ADEQUATE AND ARE IN CONFORMITY WITH SEBI (DISCLOSURE AND INVESTOR PROTECTION)GUIDELINES 2000, AS FOR THE TIME BEING IN FORCE. THIS REQUIREMENT IS TO FACILITATE INVESTORS TO TAKEAN INFORMED DECISION FOR MAKING INVESTMENT IN THE PROPOSED OFFER.IT SHOULD ALSO BE CLEARLY UNDERSTOOD THAT WHILE THE ISSUER COMPANY IS PRIMARILY RESPONSIBLEFOR THE CORRECTNESS, ADEQUACY AND DISCLOSURE OF ALL RELEVANT INFORMATION IN THE RED HERRINGPROSPECTUS, THE BOOK RUNNING LEAD MANAGERS ARE EXPECTED TO EXERCISE DUE DILIGENCE TO ENSURETHAT THE COMPANY DISCHARGES ITS RESPONSIBILITY ADEQUATELY IN THIS BEHALF AND TOWARDS THISPURPOSE, THE BOOK RUNNING LEAD MANAGER M/S ALLIANZ SECURITIES LIMITED HAS FURNISHED TO SEBI, ADUE DILIGENCE CERTIFICATE DATED JUNE 12, 2006 IN ACCORDANCE WITH THE SEBI (MERCHANT BANKERS)REGULATIONS, 1992 WHICH READS AS FOLLOWS:(1) WE HAVE EXAMINED VARIOUS DOCUMENTS INCLUDING THOSE RELATING TO LITIGATION LIKE COMMERCIALDISPUTES, PATENT DISPUTES, DISPUTES WITH COLLABORATORS ETC. AND OTHER MATERIALS INCONNECTION WITH THE FINALISATION OF THE RED HERRING PROSPECTUS PERTAINING TO THE SAIDOFFER;(2) ON THE BASIS OF SUCH EXAMINATION AND THE DISCUSSIONS WITH THE COMPANY, ITS DIRECTORS ANDOTHER OFFICERS, OTHER AGENCIES, INDEPENDENT VERIFICATION OF THE STATEMENTS CONCERNINGTHE OBJECTS OF THE OFFER, PROJECTED PROFITABILITY, PRICE JUSTIFICATION AND THE CONTENTS OFTHE DOCUMENTS MENTIONED IN THE ANNEXURE AND OTHER PAPERS FURNISHED BY THE COMPANY.(3) WE CONFIRM THAT:A. THE RED HERRING PROSPECTUS FORWARDED TO SEBI IS IN CONFORMITY WITH THE DOCUMENTS,MATERIALS AND PAPERS RELEVANT TO THIS OFFER;B. ALL THE LEGAL REQUIREMENTS CONNECTED WITH THE SAID OFFER, AS ALSO THE GUIDELINES,INSTRUCTIONS, ETC. ISSUED BY SEBI, THE GOVERNMENT AND ANY OTHER COMPETENT AUTHORITYIN THIS BEHALF HAVE BEEN DULY COMPLIED WITH;167