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(COLONY)THALTEXTILEMILLSLIMITEDBALANCESHEETNOTE 2009 2008 2008

Rupees Rupees

EQUITYAND

LIABILITIES

SHARECAPITALANDRESERVES:AuthorizedCapital 3.1 90,000,000 90,000,000 90,000,000Issued,subscribedandpaidupcapital 3.2 55,687,500 55,687,500 55,687,500Reserves 4 17,887,309 17,887,309 17,887,309

Accumulatedlosses (172,900,373) (139,379,483) -177,012,767(99,325,564) (65,804,674) -103,437,958

SURPLUSONREVALUATIONOFFIXEDASSETS 5 133,512,117 139,593,015 311,522,000NONCURRENTLIABILITIESLongtermloans 6 242,606,225 245,580,525 244,720,177DeferredLiabilities 7 212,749 546,429 26,433,081CURRENTLIABILITIESShorttermfinances 8 78,461,577 73,290,193 51,051,896Tradeandotherpayables 9 61,359,625 65,096,685 57,661,402Accruedmarkuponsecuredloans 10 31,409,537 4,273,136 44,939,414Provisionfortaxation 11 8,264,411 9,364,411 4,699,957

179,495,150 152,024,425 158,352,669

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(COLONY)THALTEXTILEMILLSLIMITED2009 2008 2010

ASSETS NOTE Rupees Rupees rupees

NONCURRENT

ASSETS

Property,plant&equipment 13 322,227,851 322,227,851 322,227,851Assetsheldforsale 14 27,642,664 - 27,642,664Longtermdeposits 15 2,454,443 2,454,443 2,454,443CURRENTASSETSStoresandspares 16 13,461,417 13,755,071 13,461,417Stocksintrade 17 56,873,008 52,575,116 56,873,008Tradedebtors 18 20,384,462 22,566,958 20,384,462Loansandadvances 19 3,396,075 2,942,303 3,396,075Tradedeposits,prepaymentsandotherreceivables 20 6,104,474 6,172,949 6,104,474Cashandbankbalances 21 3,956,283 3,251,652 3,956,283

104,175,719 101,264,049 104,175,719456,500,677 471,939,720 456,500,677

2009 2,008 2,009

1. current ratio=current assets/current liabilities 0.580381804 0.66610381 0.5854993

2. quick ratio= current assets-inventories/current liabilities 0.18853598 0.229791114 0.14133608

3. inventory turn over ratio=sales/inventories 1.71494832 5.652214474 6.33572743

4. days sales outstanding=recieveables/average sales per day 90 .43307658 30.8 4455282 24.4 783341

5. fixed assetsturnover ratio=sales/fixed assets 0.374331094 1.16350105 0.91406749

6. total assets turnover ratio=sales/total assets 0.264 227218 0.79 4407479 0.69 891273

7. total debt ratio=total debt/total assets 0.907 007884 0.82 3806413 0.66 626828

8. time interest -earned ratio=EBIT/interest charges 2.234498718 2.36405625 4.57271623

9. profit margin on sales=netloss/sales -0 .287 764265 -0.0 918379 6 -0.0 138638 3

10.return on total asset=net loss/TOTAL ASSETS -0 .076 035151 -0.0 729567 6 -0.0 096896 1

11. basic earning power ratio=EBIT/TOTAL ASSETS -0 .137 627075 -0.1 195579 6 -0.0 985380 2

12. return on equity=net loss/equity 0.34945785 0.523233274 0.05972659

13. price/earning ratio=price per share/eps -1 .605 136437 -1.6 181229 8 -9.0 090090 1

14.market/book value -0 .560 656268 -0.8 462544 8 -0.5 383662

important points:COMMON SHARES 5568750 5568750 5568750

COMMON EQUITY (99,325,564) (65,804,674) -103,437,958

EPS (6.23) (6.18) -1.11

PRICE PER SHARE 10 10 10

MARKET VALUE 10 10 10

BOOK VALUE -17.83624045 -11.8167765 -18.5747175

EBIT -62,826,853 -56,424,148 -62,826,853

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SALES 120,619,904 374,912,443 445,619,746

INTEREST CHARGES -28,116,755 -23,867,515 -13,739,504

INVENTORIES 70,334,425 66,330,187 70,334,425

AVERAGE SALES PER DAY 330465.4904 1027157.378 1220876.02

ACCOUNT RECIEVEABLE 29,885,011 31,682,210 29,885,011

CURRENT LIABILITIES 179,495,150 152,024,425 158,352,669

CURRENT ASSETS 104,175,719 101,264,049 92,715,370

TOTAL ASSETS 456,500,677 471,939,720 637,589,969

TOTAL DEBT 414,049,713 388,786,968 424,805,970

NET LOSS -34,710,098 -34,431,195 -6,177,997

FIXED ASSETS 322,227,851 322,227,851 487,512,956

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(COLONY)THALTEXTILEMILLSLIMITED(COLONY)THALTEXTILEMILLSLIMITEDPROFITANDLOSSACCOUNTFORTHEYEARENDEDJUNE30,2009

NOTE 2009 2008 2009Rupees Rupees

Sales-Net 22 120,619,904 374,912,443 120,619,904CostofSales 23 132,840,354 374,101,001 132,840,354Gross(loss)/profit -12,220,450 811,442 -12,220,450OperatingExpenses:Administrative 24 8,770,025 9,472,060 8,770,025

Selling 25 44,450 28,500 44,450

8,814,475 9,500,560 8,814,475

OperatingLoss -21,034,925 -8,689,118 -21,034,925FinancialExpenses 26 -28,116,755 -23,867,515 -28,116,755Lossbeforetaxation -34,710,098 -32,556,633 -34,710,098Taxation 28 - -1,874,562 -

Lossaftertaxation -34,710,098 -34,431,195 -34,710,098Basic(Loss)/Earningpershare 29 -6.23 -6.18 -6.23

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(COLONY)THALTEXTILEMILLSLIMITED(COLONY)THALTEXTILEMILLSLIMITEDCASHFLOWSTATEMENTFORTHEYEARENDEDJUNE30,2009

2009 2008Rupees Rupees

CASHFLOWSFROMOPERATINGACTIVITIES(Loss) beforetaxation (34,710,098) (32,556,633)Adjustmentsfor:Depreciation 12,690,948 13,389,477

Profitonsaleoffixedassets (14,441,582) -Financialcharges 28,116,755 20,503,197Operatingprofit beforeworkingcapital (8,343,977) 1,336,041Adjustmentsforworkingcapitalchanges:(Increase)/decreaseincurrentassetsStoresandspares 293,654 (662,137)Stockintrade (4,297,892) 32,600,164Tradedebts 2,182,496 (3,693,156)Loansandadvances (453,772) 1,360,846Tradedeposits,Prepaymentsandother 68,475 5,471,643Increase/(Decrease)InCurrentLiabiliti (2,207,039) 35,077,360Shorttermfinances 5,171,384 (11,049,299)Tradeandotherpayables (3,737,060) (53,201,295)

1,434,324 (64,250,594)

Cashgeneratedfromoperations (9,116,692) (27,837,193)Financialchargespaid (980,355) (7,059,477)Incometaxpaid (1,100,000) (909,875)Gratuitypaid (333,680) (1,440,694)NetCashinflowfromOperatingActivitie (11,530,727) (37,247,239)CASHFLOWSFROMINVESTINGACTIVITIESFixedcapitalexpenditure (531,812) (847,777)Saleproceedoffixedassets 15,741,470 -NetCash(outflow)frominvestingactivit 15,209,658 (847,777)

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(COLONY)THALTEXTILEMILLSLIMITED2009 2008

Rupees Rupees

3.0 SHARECAPITAL3.1 AuthorizedCapital

9,000,000OrdinarysharesofRs.10/-each 90,000,000 90,000,0003.2 Issued,subscribedandpaidupcapital

3,348,750OrdinarysharesofRs.10/-eachfullypaidincash 33,487,500 33,487,5002,220,000OrdinarysharesofRs.10/-eachissuedasfullypaidupbonusshares. 22,200,000 22,200,000

55,687,500 55,687,500

Therearenochangesintheauthorizedandpaidupcapitalofthecompanyinthecurrentyear.4.0 RESERVES

Capital:

Pre-incorporationprofit 200,000 200,000Exchangefluctuationreserve 337,309 337,309Gainonredemptionofpreferencesharecapit 2,500,000 2,500,000Premiumonissueofrightshares 14,850,000 14,850,000

17,887,309 17,887,309

Thereisnomovementinthesereserves.5.0 SURPLUSONREVALUATIONOFFIXEDASSETS

OpeningBalance 151,094,501 152,952,411Less:

TransferredtoaccumulatedlossinrespectofincrementaldepreciationchargedonrelatedassetsForCurrentYear:- netofdeferredtax (1,189,208) (1,248,710)- related

deferred

tax

liability (578,740) (609,200)

(1,767,948) (1,857,910)

(1,767,948) (1,857,910)

149,326,553 151,094,501

Less:Relateddeferredtaxliabilityonrevaluation:BalanceasatJuly01 11,501,486 12,110,686Incrementaldepreciationchargedonrelatedassetsforcurrentyear (578,740) (609,200)

10,922,746 11,501,486

Less:Realizationondisposalofassets (4,891,690) -133,512,117 139,593,015

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(COLONY)THALTEXTILEMILLSLIMITED2009 2008

Rupees Rupees

### ADMINISTRATIVEEXPENSESSalaries,wagesandbenefits 24.1 2,369,942 3,102,555Travelingandconveyance 410,796 334,845Communications 668,676 719,156

Rent,ratesandtaxes 662,143 674,564Insurance 5,679 27,760

Repairandmaintenance 693,258 574,480Auditorsremuneration 24.2 200,000 200,000LegalandProfessionalcharges 263,903 174,964Subscriptionanddonations 24.3 48,950 1,600Securitycharges 733,708 805,520Entertainment 1,079,880 1,076,571

Electricity,GasandWatercharges 983,063 987,684Advertisementandpublicity 32,100 90,753Printing,stationeryandgeneral 364,108 375,805Depreciation 253,819 325,803

8,770,025 9,472,060

24.1- Salaries,wagesand other benefits includeschargesforstaffretirementbenefits.24.2- Auditorsremuneration

StatutoryAuditfee 175,000 175,000HalfYearlyReviewfee 25,000 25,000

200,000 200,000

24.3- Noneof thedirectorsortheirspousehaveanyinterestindoneesfordonations.### SELLINGEXPENSES

Freight 44,450 28,500

44,450 28,500### FINANCIALEXPENSES

Markupon:Long termfinances 15,480,520 13,780,210Shorttermfinances 12,369,625 6,722,987Bankcharges 266,610 3,364,318

28,116,755 23,867,515

36