EXHIBIT 8

KOTA FIBRES, LTD.

Monthly Forecast of Income Statements (in Rupees)
Pro Forma
January
Gross Sales
Excise Taxes
Net Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Depreciation
Interest Expense (Income) (1)
Profit Before Taxes
Income Taxes
Net Profit

2,616,120
392,418
2,223,702
1,928,080
295,622
454,501
84,130
11,058
(254,068)
(76,220)
(177,847)

February
2,892,825
433,924
2,458,901
2,132,012
326,889
454,501
84,130
24,825
(236,566)
(70,970)
(165,596)

March
4,447,404
667,111
3,780,293
3,277,737
502,557
454,501
87,047
67,827
(106,818)
(32,046)
(74,773)

April
8,804,250
1,320,638
7,483,613
6,488,732
994,880
454,501
87,047
152,094
301,238
90,372
210,867

May

June

July

13,885,560
2,082,834
11,802,726
10,233,658
1,569,068
454,501
87,047
262,163
765,358
229,607
535,751

17,588,376
2,638,256
14,950,120
12,962,633
1,987,486
454,501
89,964
352,928
1,090,094
327,028
763,066

16,315,533
2,447,330
13,868,203
12,024,548
1,843,655
454,501
89,964
350,846
948,345
284,504
663,842

August
8,572,824
1,285,924
7,286,900
6,318,171
968,729
454,501
89,964
247,052
177,213
53,164
124,049

September
5,031,000
754,650
4,276,350
3,707,847
568,503
454,501
92,880
130,264
(109,142)
(32,743)
(76,400)

October
4,447,404
667,111
3,780,293
3,277,737
502,557
454,501
92,880
61,897
(106,721)
(32,016)
(74,705)

November
3,531,762
529,764
3,001,998
2,602,909
399,089
454,501
92,880
31,008
(179,299)
(53,790)
(125,510)

December The Year

2,767,050
415,058
2,351,993
2,039,316
312,677
454,501
95,797
18,443
(256,064)
(76,819)
(179,245)

(1) Interest expense = Notes Payable * 14.5%/12 months.

Forecasted Monthly Balance Sheets for 2001 (in Rupees)

January

February

March

April

May

June

July

August

September

October

November

December

750,000
2,773,349
2,308,135
5,831,484
8,527,237
14,358,721

750,000
3,291,542
5,850,125
9,891,667
8,443,107
18,334,774

750,000
5,012,144
11,855,841
17,617,985
8,706,060
26,324,045

750,000
10,301,737
17,637,315
28,689,052
8,619,013
37,308,065

750,000
17,997,155
19,666,227
38,413,382
8,531,966
46,945,348

750,000
24,748,757
14,469,652
39,968,409
8,792,002
48,760,411

750,000
25,697,603
6,815,272
33,262,875
8,702,038
41,964,914

750,000
17,191,189
3,883,970
21,825,159
8,612,075
30,437,233

750,000
9,003,739
2,950,257
12,703,996
8,869,194
21,573,190

750,000
6,295,049
1,854,837
8,899,886
8,776,314
17,676,200

750,000
5,029,249
1,639,892
7,419,142
8,683,434
16,102,575

750,000
3,715,152
2,225,373
6,690,525
8,937,637
15,628,161

4,010,818
2,962,622
(147,190)
6,826,250
11,508,524
18,334,774

6,805,539
8,263,991
(179,236)
14,890,294
11,433,751
26,324,045

8,842,088
16,910,224
(88,864)
25,663,448
11,644,618
37,308,065

8,142,024
26,482,212
140,743
34,764,979
12,180,368
46,945,348

3,883,534
31,933,442
0
35,816,976
12,943,434
48,760,411

1,935,531
26,137,604
284,504
28,357,638
13,607,276
41,964,914

1,614,553
14,753,688
337,668
16,705,908
13,731,325
30,437,233

1,110,950
6,807,315
0
7,918,265
13,654,926
21,573,190

690,358
3,437,637
(32,016)
4,095,979
13,580,221
17,676,200

1,039,007
1,694,663
(85,806)
2,647,864
13,454,711
16,102,575

1,157,298
1,358,022
(162,625)
2,352,695
13,275,466
15,628,161

Assets
Cash (1)
Accounts Receivable (2)
Inventories (3)
Total Current Assets
Net Prop. Plant & Equip. (4)
Total Assets

Liabilities and Owners' Equity

Accounts Payable (5)
Note Payable- Bank (6)
Accrued Taxes (7)
Total Current Liabilities
Shareholders' Equity (8)
Total Liabilities & Equity

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)

See Exhibit 9.
See panel 1, Exhibit
See panel 2, Exhibit
See panel 6, Exhibit
See panel 3, Exhibit
Plug figure.
See panel 5, Exhibit
See panel 4, Exhibit

10.
10.
10.
10.
10.
10.

1,614,553
1,146,268
(76,220)
2,684,601
11,674,120
14,358,721

90,900,108
13,635,016
77,265,092
66,993,380
10,271,712
5,454,006
1,073,731
1,710,405
2,033,570
610,071
1,423,499