ARI Consolidated Investments Pvt Ltd Management Discussions

ARI CONSOLIDATED INVESTMENTS LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL PERFORMANCE: PARTICULARS 2007-08 2006-07 Rs. Rs. Profit Before Depreciation and Income Tax 16,836,655 9,218,311 Depreciation 64,519 74,212 Profit Before Income Tax 16,772,336 9,144,099 Provision for Income Tax, Deferred Tax and Fringe Benefit Tax 556,538 1,406,283 Excess Provision of Income Tax of prior years (215,677) (67,264) Profit after Income Tax 16,431,475 7,805,080 Balance Brought Forward 30,744,173 25,186,047 Available for Appropriation 47,175,646 32,991,127 Appropriation: Proposed Dividend 1,237,620 1,237,620 Tax on Distributed Profits 210,334 210,334 Transfer to General Reserve 1,650,000 799,000 Transfer to Reserve Fund u/s 45-IC of RBI Act 1934 3,286,295 - Balance carried to Balance Sheet 40,791,399 30,744.173 REVIEW OF OPERATIONS The Company registered pre tax profit of Rs. 167.72 lacs for the current year. During the year under consideration the Company continued earning rent income from its assets at Bhavnagar and income from investments. The Companys Accounts under consideration are being presented along with the Consolidated Accounts after receiving the Annual accounts of its wholly owned Subsidiary Company Inarco Limited on June 27, 2008.