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MONTHLY HIGHLIGHTS OF FINANCE DEPARTMENT July 2007

MONTHLY HIGHLIGHTS OF FINANCE DEPARTMENT July 2007. Average Funds utilization (in % of Sanctioned Limit). July,07 Aug, 06 to July, 07 48.65 37.15. Average Cost of Funds as % of Sales. July,07 Aug, 06 to July, 07 1.83 1.39. Average Cost of Funds per KG of foam(in Rs.).

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MONTHLY HIGHLIGHTS OF FINANCE DEPARTMENT July 2007

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  1. MONTHLY HIGHLIGHTS OF FINANCE DEPARTMENTJuly 2007

  2. Average Funds utilization (in % of Sanctioned Limit) • July,07 Aug, 06 to July, 07 • 48.65 37.15 Average Cost of Funds as % of Sales • July,07 Aug, 06 to July, 07 • 1.83 1.39 Average Cost of Funds per KG of foam(in Rs.) • July,07 Aug, 06 to July, 07 • 4.31 2.75

  3. 1. Total interest cost reduction for the year 2007-08 over 2006-07 (Target 10%) Rs. in Lacs July, 07 Yearly as on date Comparison Company Name July, 07 July, 06 46.08 33.48 SFPL 46.08 Reasons:1. Rate of interest in July, 06 was 8.5% compared to 11% in July, 2007.2. Cost of funds per Kgs of foam increased in July, 07 due to lower foam production even though interest amount have decreased in July, 2007 compared to June, 2007.

  4. 2. Maintenance of average monthly cash balance (Amt.Rs. in lacs) Unit Actual AmountLimit per unit Sahibabad - 0.63 1.00 Surajpur - 1.52 .50 Greater Noida - 1.60 3.00 Sikkim - 1.02 .50 Hyderabad - 3.19 7.00 Pondicherry - 0.34 1.00 Silvassa IV - 32.00 10.00 Silvassa V - 1.40 2.00 Silvassa X - 3.62 10.00 HO - 0.00 20.00 Siliguri - 0.09 5.00 Kala Amb - 0.25 .25 Auora Foams - 0.31 2.00 Auora Foams - HO - 0.00 1.00 Export - 1.75 1.00 Total 47.72 37.64

  5. 3. Payment to suppliers on due date All payments have been made on due date.

  6. ACTIVITY PERFORMED IN JULY 07 • Reviewed Insurance policy of Sahibabad unit. • Reviewed insurance policy of Surajpur unit based on the actual state of affairs. • Reviewed insurance policy of Greater Noida based on the actual state of affairs. • In order to reduce cost of funds, we have already moved for foreign currency loan to Central Bank of India, the application for loan pending with them. • We have given distributors information for the purpose of credit facilities with ICICI Bank.

  7. ACTIVITY PERFORMED IN JUNE 07 • HDFC Bank at Siliguri has been reconciled; we have already submitted the resolution and authority letter to Mr. Pankaj Goel for closure of account. • We have already implemented the process for transferring of funds on daily basis from Mumbai, in order to obviate maintenance of excess funds in Central Bank of India, Mumbai. • Documentation for the availing of credit facilities with Central Bank has been completed. • Job description of Finance Deptt. given to HR Deptt. for training need identification.

  8. STATUS OF CREDITORS • Reconciliation status as on 30.06.07 : GNFC and Dow Chemicals are reconciled upto 31.03.2007. Manali Petrochemicals is reconciled upto 30.06.2007. • Balance Confirmation as on 31.03.07: All units have sent the balance confirmation letter against which we have received back 50% from them.

  9. ACTIVITY FOR THE MONTH OF AUGUST, 07 • Follow up of our request for reduction of interest rate with Central Bank of India. • Follow up with FCNRB application of necessary sanction. • To evaluate the investment proposal for the purpose of generating return higher then cost of funds. • To give further inputs to HR Deptt. for training need identification.

  10. ACTIVITY FOR THE MONTH OF AUGUST, 07 • To review and renew the insurance policy of Hyderabad Unit. • To renew the insurance policies of Directors.

  11. THANKS, ANY QUESTION?

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