The Management Discussion & Analysis Report, as required in terms of Clause 49 (V)(A) of the Listing Agreement:
During the year under review, the Company's Floriculture Unit in Berikai. KrishnagiriDist., Tamil Nadu has recorded a turnover of Rs.103 19 lakhs (local sale) as against Rs 5233 lakhs (export turnover of Rs 11 15 lakhs and local sale of Rs 41 18 lakhs) in theprevious year. Efforts are being taken to improve the performance. The Company hasobtained the final exit order from 100% EOU status in December 2008 and henceforth thereis no export obligation Currently the Company is concentrating only on domestic sale
As you may note from the audited accounts, the Company's accumulated losses (Rs 381.71lakhs) as at 30th September 2009 have exceeded 50% of its net worth (Rs. 735.74 lakhs).However, there is a cash profit in this year.
Adequate internal control system is instituted in the Company The Accounting recordsprovide a true and fair view of the financial condition of the Company