tejaskiran pharmachem industries pvt ltd Management discussions

TEJASKIRAN PHARMACHEM INDUSTRIES PRIVATE LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: (Rs in thousands) Year ended 31st March, 2008 2007 Total Income 17,747 2,57,713 Profit Before Tax 16,920 2,55,403 Profit After Tax 14,837 2,53,667 Prior period adjustments 110 12 Available for Appropriation 14,727 2,53,655 Balance B/f from Previous Year 5,01,638 2,47,983 Surplus Carried to Balance Sheet 5,16,365 5,01,638 OPERATIONS : During the year under review, your Company has earned income on account of surrender/cancellation of rights in properties as the same was not considered viable due to changing market scenario. The Company has also earned interest on loans and advances given, Profit on redemption of debentures as well as mutual fund units and Dividend from mutual fund investments. The total income is significantly less in this year, as compared to preceding year because, your Company had received dividend twice (including interim dividend) from Sun Pharmaceutical Industries Ltd (Sun) and Sun has not declared any dividend for the year under consideration. Your Directors also wish to inform that, with effect from 1st March 2008, your Company has entered into partnership-with a firm M/s. Dosti Enterprises, which is engaged in the business of developing Special Economic Zone (SEZ). Your Directors hope that, resources of the Company will continue to yield good returns in following year also.