F I N A N C I A L P E R F O R M A N C E

(A GOVERNMENT OF INDIA ENTERPRISE)

MSTC Annual Report 2008-09

Balance Sheet Rs. in crores

Profit & Loss Account

F I N A N C I A L R E S U L TS

Financial results of the company for the last five years is given below:

	2008-2009	2007 - 2008	2006 - 2007	2005 - 2006	2004 - 2005
Gross Income	7082.09	5197.11	3100.07	4172.75	4960.04
Total expenditure (including financial charges, depreciation & provisional & write off	6952.56	5062.64	3006.66	4087.05	4895.27
Gross Profit before tax	129.53	134.47	90.87	85.7	64.77
Tax	44.48	42.26	31.87	31.02	26.47
Profit after tax	85.05	92.20	59.00	54.68	38.30
Paid-up Capital (Equity)	2.20	2.20	2.20	2.20	2.20
Reserves	340.17	268.45	197.87	152.76	110.58
Proposed Dividend (%)	775	840	540	498	349
Earning per share (Rs.)	386.58	419.11	268.20	248.53	174.09

B A L A N C E S H E E T

	AS AT 31/03/09	AS AT 31/03/08	AS AT 31/03/07	AS AT 31/03/06	AS AT 31/03/05
SOURCES OF FUNDS
Shareholders' Funds
Capital	2.20	2.20	2.20	2.20	2.20
Reserves and Surplus	340.17	268.45	197.87	152.76	110.58
	-------- 342.37	------- 270.65	---------- 200.07	---------- 154.96	---------- 112.78
Loan Funds	1900.07	1170.28	968.34	805.58	541.60
TOTAL	----------- 2242.45 =======	----------- 1440.93 =======	------------------ 1168.41 ==========	------------------ 960.54 ==========	------------------ 654.38 ==========

APPLICATIONS OF FUNDS
Fixed Assets
Gross Block	22.51	19.05	16.28	7.26	7.07
Less: Depreciation	13.66	11.25	7.58	5.57	5.21
Capital Work-in-progress	8.60	4.32	0.15	6.01	-----
Net Block	----------- 17.45	----------- 12.12	--------------- 8.85	--------------- 7.70	--------------- 1.86
Investments	15.81	17.81	31.81	33.81	33.81
Deferred Tax Assets	12.90	0
Current Assets, Loans & Advances
Current Assets
Interest accrued on Investment	0	0.20	0.40	0.40	0.40
Stock-in-Trade	1.65	13.99	65.94	75.69	72.19
Sundry Debtors	2611.51	2919.67	1213.84	704.03	410.87
Cash and Bank Balance	1743.38	1445.04	1042.64	1015.53	1279.98
Other Current Assets	30.68	9.94	8.61	2.56	7.41
	------------4387.23	------------ 4388.86	------------ 2331.43	-------------- 1753.17	------------- 1770.85
Loans and Advances	961.87	296.83	217.85	184.79	153.78
	----------5349.10	---------- 4689.86	------------ 2549.29	----------- 1937.96	-------------1924.63
Less: Current Liabilities and Provisions	3152.82	3274.69	1421.64	1019.14	1306.25
Net Current Assets	------------- 2196.27	------------- 1411.00	--------------- 1127.63	--------------- 918.81	--------------- 618.38
Misc. Expenditure	------------ 0.00	------------ 0.00	--------------- 0.11	--------------- 0.22	--------------- 0.33
TOTAL	---------------- 2242.45 =======	----------- 1440.94 ======	-------------- 1168.41 ========	-------------- 960.54 =========	------------ 654.38 =======

P R O F I T & L O S S A C C O U N T

	2008-09	2007-08	2006-07	2005-06	2004-05
INCOME
Sales	6832.53	4974.79	2943.86	4035.75	4870.80
Service Charges	100.99	80.15	55.07	56.80	27.82
Other Income	148.58	130.71	97.70	80.20	61.42
Provision no longer required written back	0	12.00	3.44	0	0
TOTAL	-------------- 7082.09 ==========	-------------- 5197.11 ==========	-------------- 3100.07 ==========	-------------- 4172.75 ==========	-------------- 4960.04 ==========
EXPENDITURE
Cost of Sales	6761.87	4928.40	2917.39	4002.52	4825.06
Employees' Remuneration and benefits	30.86	16.40	12.29	11.00	10.74
Administrative Expenses	15.65	14.44	9.61	7.47	6.51
Financial Charges	132.00	97.70	61.57	56.87	42.95
Auction / Tender Expenses	1.77	1.84	1.64	1.92	1.70
Provision for Doubtful Debts	4.50	0	0	0.82	0.46
Provision for Doubtful Advances	3.30	0
Provision for Overdue Investment		0	0	6.00	8.00
Bad Debt written off		0	0	0	0.45
Prior Period Items	0.039	0	0	0	(1.09)
TOTAL	---------------- 6950.00 ==========	---------------- 5058.78 ==========	---------------- 3006.67 ==========	---------------- 4086.60 ==========	--------------- 4894.78 ==========
PROFIT
Profit before Depreciation & Tax	132.09	138.33	93.40	86.15	65.26
Less: Depreciation	2.56	3.86	2.53	0.45	0.49
Profit before Tax	------------ 129.53	------------ 134.47	------------ 90.87	------------ 85.70	------------ 64.77
Less: Provision for Taxation	50.23	42.00	31.66	30.79	26.47
Deferred Tax	(6.28)	0
Fringe Benefit Tax	0.54	0.26	0.21	0.23
Profit after Tax	------------- 85.05 ========	------------- 92.20 ========	------------- 59.00 ========	------------- 54.81 ========	------------- 38.30 ========
APPROPRIATIONS
Interim Dividend		0	0	2.24	1.12
Tax on Interim Dividend		0	0	0.31	0.15
Proposed Dividend	17.05	18.48	11.88	8.71	6.56
Tax on Dividend	2.90	3.14	2.02	1.22	0.92
Transferred to General Reserve	65.10	70.58	45.11	42.18	29.55
TOTAL	------------ 85.05 ========	------------ 92.20 ========	------------ 59.00 ========	------------ 54.68 ========	------------ 38.30 ========

MSTC Annual Report 2008-09

Balance Sheet Rs. in crores

Profit & Loss Account

F I N A N C I A L R E S U L TS

Financial results of the company for the last five years is given below:

Gross Income

4960.04

Total expenditure (including financial charges, depreciation & provisional & write off

4895.27

Gross Profit before tax

64.77

Tax

26.47

Profit after tax

38.30

Paid-up Capital (Equity)

2.20

Reserves

110.58

Proposed Dividend (%)

349

Earning per share (Rs.)

174.09

B A L A N C E S H E E T

AS AT 31/03/05

SOURCES OF FUNDS

Shareholders' Funds

Capital

2.20

2.20

2.20

Reserves and Surplus

268.45

197.87

110.58

--------

342.37

-------

270.65

----------

200.07

----------

154.96

----------

112.78

Loan Funds

1170.28

968.34

541.60

TOTAL

-----------

2242.45

=======

-----------

1440.93

=======

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

1168.41

==========

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

960.54

==========

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

654.38

==========

APPLICATIONS OF FUNDS

Fixed Assets

Gross Block

19.05

16.28

7.26

7.07

Less: Depreciation

11.25

7.58

5.57

5.21

4.32

0.15

6.01

------------
4388.86

------------
2331.43

--------------
1753.17

-------------
1770.85