ashika capital ltd Management discussions

ASHIKA CAPITAL LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL PERFORMANCE: Financial Performance of the Company for the year ended 31st March, 2008 is as follows: (Amount In Rupees) Financial Results: For The Year Ended 31st March 2008 31st March 2007 Total Income 30,399,923.76 34,096,722.83 Profit/(Loss) before depreciation and tax 6,462,490.97 1,327,630.92 Less: Depreciation 5,98,190.00 562,120.50 Profit/(loss) before Tax 5,864,308.97 765.10 Less: Provision lor Taxation 2,004,243.78 583359.78 Profit/(Loss) after Tax 3,860,065.19 - Balance brought forward from previous year 2,520,065.67 2337.905,03 Tax Relating to earlier year (47,730.00) - Transitional effect of Provision - - For Gratuity (Net) (72,603.00) - Surplus Carried Forward 6,259,787.86 2,520,055,67 REVIEW OF OPERATIONS: The industry has passed through a very critical and bad phase because of supressed subdued capital market conditions, but despite. These adverse conditions your company the perform reasonably well and have earned a profit after tax of Rs. 38,60,065.19 during year. The total income earned by the company for the year was Rs. 3,03,99,923.76 with includes income from Investment Banking, Corporate Finance and Syndication of various corporate services. Now the Company major locus is to concentrate fully in the activities issue management, amalgamation and take over, underwriting, placement of shares debentures, syndication of loan and other corporate advisory services. As the Company expects that the conditions of capital market would improve, it would further help business prospects of the company.