ABAN 

OFFSHORE LIMITED 
AUDITED CONSOLIDATED PROFIT & LOSS ACCOUNT
For the year 

INCOME ‐ A 
Income from Operations 
Other income 

TOTAL INCOME ‐ A 

EXPENDITURE ‐ B 
Consumption  Stores & Spares and fuel 
Staff Cost 
Rental charges for Machinery 
Repairs & Maintenance 
Insurance 
Depreciation/amortisation/impairment 
Other Expenditure 

TOTAL EXPENDITURE ‐ B 

EBIT

Interest 
Exchange difference on reinstatement of foreign currency  debt (Net) 

Profit before tax 
Provision for taxation ‐ current tax and fringe benefit tax 
                                             ‐ Deferred tax (Net) 
Profit after tax 
Share of profit in associates/ Joint  ventures 
Net income before minority interest 
Minority interest 
Net income  attributable to shareholders of AOL 
 
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CCOUNT
2008‐09  2007‐08 2006‐07
(Rs in Lakhs)  (Rs in Lakhs) (Rs in Lakhs)

305009.12 204695.99 71867.5

3624.99 8804.85 8809.25

308634.11 213500.84 80676.75

18931.33 11968.27 6674.34

34421.49 20030.66 5644.97
11112.01 6378.83 2305.64
5843.25 4516.64 2703.42
6282.07 5567.83 4382.21
60147.24 31404 12655.56
55147.61 29543.96 17046.35

191885 109410.19 51412.49

116749.11 104090.65 29264.26

37.83% 48.75% 36.27%

85530.34 66584.7 26864.22

-36801.95 19437.82 -1630.55

68020.72 18068.13 4030.59

26457.73 15139.49 6653.54
-1381.13 -838.27 812.7
42944.12 3766.91 -3435.65
11160.29 8530.77 2035.57
54104.41 12297.68 -1400.08
35.08 -1.09 0
54069.33 12298.77 -1400.08
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Group Members
Aakash Pahwa
Nikhil Kapoor
Pratik Agarwal
Vishal N Metha
Rahul Somani
Hardik Shanghvi
Yatharth Tiwari
 ABAN OFFSHORE LIMITED 
AUDITED CONSOLIDATED BALANCE SHEET
2009 2008 2007
Rs. Lakhs  Rs. Lakhs  Rs. Lakhs 
SOURCES  OF  FUNDS 
Shareholders' Funds 
(a) Equity Share Capital  755.78 755.66 738.37
(b) Preference Share capital  32,600.00 30,600.00 30600
(c) Reserves and Surplus including Minority Interest  141,123.54 49,877.07 21744.05
Loan Funds 
Secured Loans  1,560,816.00 1,173,709.76 972645.93
Unsecured Loan  102,730.76 130,630.17 112606.89
Deferred Tax  (Net)  5,155.33 6,536.47 7374.73

TOTAL FUNDS EMPLOYED  1,843,181.41 1,392,109.13 1,145,709.97

APPLICATION OF FUNDS 

Fixed Assets 
Gross Block  1,441,133.77 923,484.69 809942.7
Less: Depreciation and Impairment   155,128.40 88,198.14 57908.95
Net Block  1,286,005.37 835,286.55 752,033.75
Add: Capital Work in Progress (including capital advances) 470,029.83 427182.72 224,441.39
Net Block (including capital works in progress) 1,756,035.20 1,262,469.27 976,475.14

Investments 57,505.16 63908.62 46,825.28

Current Assets, Loans and Advances

(a) Inventory of Stores, Spares and Fuel (at cost) 22,748.67 16,468.17 10,222.74
(b) Sundry Debtors 57,664.25 47,121.29 20,331.02
(c) Cash and Bank Balances 59,477.97 64,531.15 132,639.59
(d) Loans and Advances 30,646.79 12,776.71 28707.56
Total Current Assets, loans and Advances 170,537.68 140,897.32 191,900.91

Less: Current Liabilities and Provisions 
    (A)     Current Liabilities 127416.68 65680.22 66244.86
    (B)     Provisions  13479.95 9485.86 3246.5
Total Current Liabilities and Provisions 140896.63 75166.08 69491.36

Net Current Assets 29,641.05 65,731.24 122,409.55

TOTAL ASSETS 1,843,181.41 1,392,109.13 1,145,709.97

 
Financials 2008-2009 2007-2008 2006-2007

EBIT(Equity Earnings) 116749.11 104090.65 29264.26

Interest 85530.34 66584.7 26864.22
PBT 68020.72 18068.13 4030.59
Taxes 26457.73 15139.49 6653.54
Deferred tax (Net)  -1381.13 -838.27 812.7 (- is DTL so reduce it from taxes)
Net Tax 25076.6 14301.22 7466.24
PAT 42944.12 3766.91 -3435.65
Tax Rate 36.87% 79.15% 185.24%
Debt Tax Shield 31531.72 52702.88 49763.12
Debt 1663546.76 1304339.93 1085252.82
Equity(Total Shareholders funds) 174479.32 81232.73 53082.42
Capital employed(Net Total Assets) 1843181.41 1392109.13 1145709.97
D/E ratio 9.53 16.06 20.44
Interest Coverage Ratio 1.37 1.56 1.09
ROCE 6.33% 7.48% 2.55%
ROE 24.61% 4.64% -6.47%
ROE wo Leverage

Expected earnings by equity shareholders

Equity Share Capital( Face Value Rs 2) 755.78 755.66 738.37
No of shares 377.89 377.83 369.185
Market Price 1185.9 1185.9 1185.9
Market Value of shares 448139.75 448068.60 437816.49
Market Value of Debt 1663546.76 1304339.93 1085252.82
Total Value of Debt + Equity 2111686.51 1752408.53 1523069.31
Expected ROE 26.05% 23.23% 6.68%
(- is DTL so reduce it from taxes)