ontrack global services ltd Management discussions


ONTRACK GLOBAL SERVICES LIMITED ANNUAL REPORT 2005-2006 MANAGEMENT DISCUSSION AND ANALYSIS PRINCIPLE ACTIVITY: The Company is carrying on the business of providing information technology enabled services in the BPO sector covering the areas of Human Resources recruitment & training, administration, back office operations relating to finance & accounts, legal, e-database creation and management, transaction document management, content development, data analysis, logistics, engineering services related to computer aided manufacturing (CAD), and to provide call center and help desk facilities for domestic & international clients for the aforesaid purposes. FINANCIAL RESULTS: The financial results reported herewith are for fifteen months starting 20th January, 2005 and ending 31st March, 2006. The Company has suffered a loss of Rs.1251932.46 lacs during the said period, which includes administrative expenses of Rs.13,117.75 and depreciation of Rs.14,04,638.71 and deferred tax assets of Rs.165824.00. ISSUE OF CAPITAL: During the Year under review, your Company issued and allotted 9,42,600 Equity Shares of Rs.10/- each. Out of these 9,42,594 Equity Shares were issued to M/s Ontrack Systems Limited. The subscribers to the Memorandum were allotted 6 shares out of the total issued and paid up capital. Thus, M/s Ontrack Systems Limited holds 99.9 percent of the share capital.