Exhibit-1Exhibit 1GUNA FIBRES, LTD.Guna Fibres Annual Income Statements (in thousands of Indian rupees)

201020112012Gross Sales64,48775,86790,899Q.A.Excise Tax9,67311,38013,635 Net Sales54,81464,48777,264Sales Growth 201117.65%Cost of Goods44,49653,86666,993Sales Growth 2013 Gross Profits10,31810,62110,2722010Gross Profit Margin18.8239543768%Operating Expenses3,4974,8295,454Net Profit Margin6.5625330662%Depreciation7699091,074Operating Costs6.3797337186%Interest Expense9101,2402,026 Profit Before Tax5,1423,6441,7172011Gross Profit Margin16.470588164%Income Tax1,5451,093515Net Profit Margin3.9555606748% Net Profit3,5972,5511,202Operating Costs7.4878568099%

Cash8957622012Gross Profit Margin13.2941176471%Accounts Receivable2,3902,673Net Profit Margin1.5559941383%Inventory2,9743,450Operating Costs7.0588235294% Total Current Assets6,2596,885Gross Plant, Property, and Equipment8,86810,096 Accumulated Depreciation1,1701,484Net Plant, Property, and Equipment7,6988,612 Total Assets13,95715,497

Accounts Payable603822Notes to Bank 0798Accrued Taxes-62-90 Total Current Liabilities5411,530Owners' Equity13,41613,967 Total Liabilities and Equity13,95715,497

Exhibit-2Exhibit 2GUNA FIBRES, LTD.Guna Fibres Monthly Sales, 2011 Actual and 2012 Forecast(in thousands of Indian rupees)

20112012(Actual)(Forecast)January2,0122,616February2,3142,892March3,4214,447April7,0438,804May12,07413,885June15,29417,588July14,18716,315August7,1448,576September4,0255,031October3,4214,447November2,7173,531December2,2142,767Year75,86790,899

Exhibit-5Exhibit 5GUNA FIBRES, LTD.Guna Fibres Annual Income Statements (in thousands of Indian rupees)

AssumptionsExcise Tax Rate15%Minimum Cash Balance (000s)750Cost of Goods Sold / Gr Sales73.7%Accounts Receivable CollectionAnnual Operating Expenses / Annual Gr Sales6.0% In One Month40%Depreciation / Gross PP&E 10% In Two Months60%Interest Rate on Borrowings (and Deposits)14.5%Purchases / Gr Sales in Two Months55%Income Tax Rate30%Direct Labor / Purchases Last Month34%Dividends Paid (000s in March, June, Sep, Dec)500Capital Expenditures (every third month)350Accounts payable / Purchases50%Full yearNov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jul-05Jan-13Feb-13Gross Sales (1)2,7172,2142,6162,8924,4478,80413,88517,58816,3158,5765,0314,4473,5312,76790,8993,4013,616Excise Taxes (2)3924346671,3212,0832,6382,4471,28675566753041513,635 Net Sales2,2242,4583,7807,48311,80214,95013,8687,2904,2763,7803,0012,35277,264Cost of Goods Sold1,9282,1313,2776,48910,23312,96212,0246,3213,7083,2772,6022,03966,993 Gross Profit2963275039951,5691,9871,84496956950339931310,272Operating Expenses (3)4544544544544544544544544544544544545,454Depreciation (4)8484878787909090939393961,074Interest Expense (5)10215714426137241733619810562442,026 Profit Before Taxes-253-233-963097671,07188288-177-150-211-2811,717Income Taxes-76-70-299323032126526-53-45-63-84515 Net Profit-177-163-6721753775061762-124-105-147-1971,202Dividend500500500500

Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Cash762750750750750750750750750750750750750Accounts Receivable (6)2,6732,7733,2915,01110,30117,99624,74825,69717,1949,0066,2955,0283,715Inventory3,4504,5098,05114,05719,83821,86716,6729,0196,0855,1514,0563,8414,427 Total Current Assets6,8858,03212,09219,81830,88940,61342,17035,46624,02914,90711,1009,6198,891Gross Plant, Property, and Equip (7)10,09610,09610,09610,44610,44610,44610,79610,79610,79611,14611,14611,14611,496 Accumulated Depreciation1,4841,5681,6521,7391,8261,9132,0032,0932,1832,2762,3692,4622,558Net Plant, Property, and Equipment8,6128,5278,4438,7068,6198,5328,7928,7028,6128,8698,7778,6848,938 Total Assets15,49716,55920,53528,52439,50849,14650,96344,16832,64123,77619,87718,30317,829

Accounts Payable (8)8221,2232,4213,8184,8374,4872,3581,3841,223971761935994Note Payable (9)7981,7124,72211,91021,56730,78734,54127,84016,3858,6875,1473,6103,858Accrued Taxes (10)-90-166-236-265-1725802652910-45-108-192 Total Current Liabilities1,5302,7696,90815,46426,23235,33236,89929,48817,8999,6585,8634,4374,660Shareholders' Equity (11)13,96713,79013,62713,06013,27713,81314,06314,68014,74214,11814,01313,86613,169 Total Liabilities & Equity15,49716,55920,53528,52439,50849,14650,96344,16832,64123,77619,87718,30317,829

Inventory DetailNov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jul-05Purchases (12)1,4391,5912,4464,8427,6379,6738,9734,7172,7672,4461,9421,5221,8711,98950,824Direct Labor & Other Mftg Costs (13)4895418321,6462,5963,2893,0511,60494183266051763617,145Cost of Goods Sold1,9282,1313,2776,48910,23312,96212,0246,3213,7083,2772,6022,039Inventory (14)3,4504,5098,05114,05719,83821,86716,6729,0196,0855,1514,0563,8414,427

Notes:(1) Follows forecast in Exhibit 2(2) Gross Sales * Exercise Tax Rate(3) Annual Operating Expenses / 12(4) Gross PPE * Depreciation Rate / 12(5) Notes Payable (t -1) * Interest Rate / 12(6) AR(t -1 ) + GSales(t) - 40% * GSales(t-2) - 60% x GSales(t -2)(7) GPPE(t -1) + Capex(t)(8) 50% * Purchases(t)(9) Total Assets - AP - AccTax - ShrEquity(10) AccTax(t -1) + IncTax(t) or 0 if positive balance and month of quarterly payment(11) ShrEquity(t -1) + NetProfit(t) - Dividend(t)(12) 55% * GSales(t + 2)(13) 35% * Purchases(t -1)(14) Inventory(t -1) + Purchases(t) + Direct Labor(t) - COGS(t)

Impact of Proposal-1

Impact of Proposal-2

Sheet2Exhibit 5GUNA FIBRES, LTD.Guna Fibres Annual Income Statements (in thousands of Indian rupees)

AssumptionsExcise Tax Rate15%Minimum Cash Balance (000s)750Cost of Goods Sold / Gr Sales73.7%Accounts Receivable CollectionAnnual Operating Expenses / Annual Gr Sales6.0% In One Month40%Depreciation / Gross PP&E 10% In Two Months60%Interest Rate on Borrowings (and Deposits)14.5%Purchases / Gr Sales in Two Months55%Income Tax Rate30%Direct Labor / Purchases Last Month34%Dividends Paid (000s in March, June, Sep, Dec)500Capital Expenditures (every third month)350Accounts payable / Purchases50%Full yearNov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jul-05Jan-13Gross Sales (1)2,7172,2142,6162,8924,4478,80413,88517,58816,3158,5765,0314,4473,5312,76790,8993,401Excise Taxes (2)3924346671,3212,0832,6382,4471,28675566753041513,635 Net Sales2,2242,4583,7807,48311,80214,95013,8687,2904,2763,7803,0012,35277,264Cost of Goods Sold1,9282,1313,2776,48910,23312,96212,0246,3213,7083,2772,6022,03966,993 Gross Profit2963275039951,5691,9871,84496956950339931310,272Operating Expenses (3)4544544544544544544544544544544544545,454Depreciation (4)8484878787909090939393961,074Interest Expense (5)10215714426137241733619810562442,026 Profit Before Taxes-253-233-963097671,07188288-177-150-211-2811,717Income Taxes-76-70-299323032126526-53-45-63-84515 Net Profit-177-163-6721753775061762-124-105-147-1971,202Dividend500500500500

Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Cash762750750750750750750750750750750750750Accounts Receivable (6)2,6732,7733,2915,01110,30117,99624,74825,69717,1949,0066,2955,0283,715Inventory3,4504,5098,05114,05719,83821,86716,6729,0196,0855,1514,0563,8412,438 Total Current Assets6,8858,03212,09219,81830,88940,61342,17035,46624,02914,90711,1009,6196,903Gross Plant, Property, and Equip (7)10,09610,09610,09610,44610,44610,44610,79610,79610,79611,14611,14611,14611,496 Accumulated Depreciation1,4841,5681,6521,7391,8261,9132,0032,0932,1832,2762,3692,4622,558Net Plant, Property, and Equipment8,6128,5278,4438,7068,6198,5328,7928,7028,6128,8698,7778,6848,938 Total Assets15,49716,55920,53528,52439,50849,14650,96344,16832,64123,77619,87718,30315,840

Accounts Payable (8)8221,2232,4213,8184,8374,4872,3581,3841,2239717619350Note Payable (9)7981,7124,72211,91021,56730,78734,54127,84016,3858,6875,1473,6102,864Accrued Taxes (10)-90-166-236-265-1725802652910-45-108-192 Total Current Liabilities1,5302,7696,90815,46426,23235,33236,89929,48817,8999,6585,8634,4372,671Shareholders' Equity (11)13,96713,79013,62713,06013,27713,81314,06314,68014,74214,11814,01313,86613,169 Total Liabilities & Equity15,49716,55920,53528,52439,50849,14650,96344,16832,64123,77619,87718,30315,840

Inventory DetailNov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jul-05Purchases (12)1,4391,5912,4464,8427,6379,6738,9734,7172,7672,4461,9421,5221,871048,836Direct Labor & Other Mftg Costs (13)4895418321,6462,5963,2893,0511,60494183266051763617,145Cost of Goods Sold1,9282,1313,2776,48910,23312,96212,0246,3213,7083,2772,6022,039Inventory (14)3,4504,5098,05114,05719,83821,86716,6729,0196,0855,1514,0563,8412,438

Notes:(1) Follows forecast in Exhibit 2(2) Gross Sales * Exercise Tax Rate(3) Annual Operating Expenses / 12(4) Gross PPE * Depreciation Rate / 12(5) Notes Payable (t -1) * Interest Rate / 12(6) AR(t -1 ) + GSales(t) - 40% * GSales(t-2) - 60% x GSales(t -2)(7) GPPE(t -1) + Capex(t)(8) 50% * Purchases(t)(9) Total Assets - AP - AccTax - ShrEquity(10) AccTax(t -1) + IncTax(t) or 0 if positive balance and month of quarterly payment(11) ShrEquity(t -1) + NetProfit(t) - Dividend(t)(12) 55% * GSales(t + 2)(13) 35% * Purchases(t -1)(14) Inventory(t -1) + Purchases(t) + Direct Labor(t) - COGS(t)