tirupati fibres industries ltd Management discussions


TIRUPATI FIBRES AND INDUSTRIES LIMITED ANNUAL REPORT 2010-2011 MANAGEMENT DISCUSSION AND ANALYSIS During the year the Company earned Profit of Rs. 54.36 lacs (previous year Profit of Rs 54.00 lacs) after providing for financial expenses of Rs. 2.18 lacs (previous year Rs. 1.42 lacs), depreciation of Rs. 13.20 lacs (previous year Rs. 9.92 lacs) and Prior period adjustment Rs. 7.52 Lacs (Previous year NIL) during the period. FUTURE PROSPECTUS: The Company was not doing well since last many years. Due to poor financial position and reference by the BIFR to windup the Company, it was not possible to arrange working capital funds by the Company. It was therefore decided by the Board to give the mill on lease to M/s. Marudhar Yarns Private Limited, Abu Road for period of one year starting from 1st April 2010 to 31st March 2011. However the Lease Contract is discontinued w.e.f. 21/01/2011. Your directors have full confidence towards good progress in the coming years.