apollo industrial products ltd Management discussions


APOLLO INDUSTRIAL PRODUCTS LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: Rupees in Lacs Current year Previous year as at 31-03-2008 as at 31-03-2007 Sales & other income 2668.86 1853.46 Operating Profit 225.22 132.10 Less: Depreciation 5.54 5.88 Interest 2.92 6.52 Provision for taxation 76.00 41.00 Fringe Benefit Tax 0.70 0.80 Add: Deferred Tax Assets 4.36 0.13 NET PROFIT 144.42 78.04 Add: Profit and Loss Account Balance Brought Forward 24.28 14.31 Income Tax provision of earlier years 00 1.93 Available for appropriations 168.70 94.28 APPROPRIATION: Transfer to General Reserve 140.00 70.00 Balance carried to Balance Sheet 28.70 24.28 168.70 94.28 OPERATIONS: The Financial performance during the year ended 31st March 2008 has been improved the Companys sales and oilier income during the year under review was Rs. 2668.86 lakhs as against Rs. 1853.4 lakhs in the previous year an increase of 440 to over the previous year. The Company has posted good performance as profit after tax for the year under review increased Rs.144.42 lakhs as against Rs. 78.04 lakhs for the previous year registering a substantial increase of around 85%.