lumax auto technologies limited - Securities and Exchange Board of ...

Lumax Auto Technologies Limited
2 Selection & Ordering of Machine for
Chakan & Waluj
January 2006 September 2006
3 Installation of Machinery July 2006 September 2006
4) Modernization of development centre at Chinchwad near Pune, Maharashtra
S.No. Activity Commencement Completion
1 Renovation of Building July 2006 December 2006
2 Selection & Ordering of Machine July 2006 December 2006
3 Installation of Machinery July 2006 December 2006
Sources of Financing of Funds Already Deployed
The statutory auditors, M/s D.R.Barve & Company have issued a certificate dated July 19, 2006
for the deployment of funds in the proposed projects.
The amount of Rs. 1,823.32 lakhs has been spent out of the sources of financing detailed below:
(Rs in Lakhs)
Sr. No. Particulars Amount
Details of Balance Fund Deployment
1) Term Loan 1 33.50
2) Term Loan 2 177.48
3) Equity Placement 424.47
4) Internal Accruals 52.37
Total 687.82
The remaining amount is proposed to be incurred by the Company in the financial year 2006-07.
The quarter-wise break-up of the fund deployment is as follows:
(Rs. in Lakhs)
FY 2006 – 07
Particulars Already
Incurred
2nd Qtr. 3rd Qtr. 4th Investment in LDK, our subsidiary
i) to set up automotive lighting unit at
Qtr. Total
Pantnagar, Uttaranchal
ii) to set up leveling motor unit at
169.24 217.00 1,304.00 652.76 2,343.00
existing Manesar unit in Haryana
iii) for enhancement of infrastructure at
- - 250.00 140.29 390.29
existing Manesar unit in Haryana
Set up of chassis assembly unit at
- - 79.50 - 79.50
Bhosari near Pune, Maharashtra
Expansion and modernization of existing
manufacturing unit at Chakan, near
240.50 95.00 568.00 283.50 1,187.00
Pune & Waluj, near Aurangabad,
Maharashtra
Modernisation of development centre at
224.98 200.00 100.00 133.02 658.00
Chinchwad near Pune, Maharashtra 115.00 115.00
Issue expenses 53.10 [�] [�] [�] [�]
Total 687.82 [�] [�] [�] [�]
Appraisal
32