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SUPER SYNCOTEX (INDIA) LIMITED
ANNUAL REPORT 2008-2009
MANAGEMENT DISCUSSION AND ANALYSIS
FINANCIAL RESULTS:
PARTICULARS:
This Year 08-09 Previous Year 07-08
(Rs In lacs) (Rs In lacs)
Operational Profit/Loss) (14.37) (1056)
before financial expenses
and depreciation.
Less:Financial Expenses - 7.02
Gross Profit/Loss (14.37) (1758)
Less:Depreciation - -
Net Profit/Loss After depreciation (1437) (1758)
Less:FBT 0.02 0.03
Add:Balance brought forward from (481043) (4792-82)
earlier years
Balance carried forward (482482) (481043)
PERFORMANCE:
The performance of the Company during the year ended 31st March, 2009 was
poor. During the year under review. Further due to labour disturbance In
the month of Oct., 2004 & onwards Your Company's productivity effected
badly. In addition to above the productivity also affected due to poor
demand, lower price of yarn, lower margin & increase of input cost & and
looking to the losses and workers problems from the month of oct., 2004 and
onwards it was decided to keep the plant under suspense of work since
October 25th, 2005. During the year plant under suspense of work hence
production is Nil as against NIL in the preceding year.
During the year, your Company could have achieved a net turnover of Rs. Nil
lacs as against Rs. Nil lacs in the preceding year which includes export
turnover (FOB) amounting to Rs. NIL Lacs as against Rs. Nil Lacs of last
year.
REVIVAL OF INDUSTRIAL UNIT:
The promoters of the Company have taken effective steps for revival of the
Industrial undertaking of the Company. One time settlement proposal was
given to Fls & Banks. The settlement of dues of all the FIS and Banks has
been done before 31st March, 2008. To rehabilitate the unit it has been
planned to demerge the spinning Unit at khan-KaLamba of the Company based
on valuation of assets. The demerger will result into issue of equity
shares by demerged unit and substantial reduction in existing Equity share
capital of the Company.
The scheme of de-merger, reduction in Equity Share capital and scheme of
revival of Sick industrial undertaking and scheme for making the net worth
positive of the Company has been submitted to the Hon'ble BIFR for its
approval.
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