Amforge Industries Ltd Management Discussions.

FINANCIAL RESULTS (STANDALONE):

(Rs.in 000s)
PARTICULARS 2016-2017 2015-2016
Total Income 24,983.67 41,472.21
Earnings before interest, depreciation, exceptional items and tax (1,601.20) 12,126.05
Less : Depreciation 4,629.19 4,167.61
Profit before interest, exceptional items and tax (6,230.39) 7,958.44
Less : Interest and Finance cost 4,606.57 3,358.82
Profit before exceptional items and tax (10,836.96) 4,599.92
Less : Exceptional items 38,313.06 -
Profit before tax (49,150.02) 4,599.92
Provision for current tax - 1,000.00
Provision for deferred tax /Prior year 1,15,911.00 (79.30)
Profit after tax (1,65,061.02) 8,836.22
Balance of (Loss) brought forward from previous year (3,94,418.48) (4,03,254.70)
(Loss) carried to Balance Sheet (5,59,479.50) (3,94,418.48)

FINANCIAL PERFORMANCE:

During the financial year under review, your Company registered a total income of Rs.24,983.67 thousand as against (Rs.41,472.21 thousand) in the previous year and earning loss before interest, depreciation, exceptional items and tax (Rs.1,601.20) thousand as against (Rs.12,126.05 thousand) in the previous year. The loss before tax for the year is (Rs.49,150.02) thousand, as against profit of (Rs.4,599.92 thousand), in the previous year.

INTERNAL AND FINANCIAL CONTROL:

The Company has in place adequate internal and financial controls to ensure compliance with various policies, practices and statutes applicable with reference to financial statements. The internal audit is entrusted to M/s. Ashwin K. Shah, Chartered Accountant (Membership No.033083).

MANAGEMENT DISCUSSION AND ANALYSIS:

There were no manufacturing activities to report on Management Discussion and Analysis pursuant to Regulation 34 (e) of SEBI (LODR) Regulations, 2015.

For and on behalf of the Board of Directors
Fali Mama
Director
DIN:00012636
Place: Mumbai
Date: 11/08/2017