Emerald Leisures Ltd Management Discussions.

APTE AMALGAMATION LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS Rs. In Lakhs Profit for the year before Interest, 943.69 Depreciation and Taxes Interest Surplus after interest 0.11 Less: Depreciation 0.59 Profit after interest and depreciation 942.99 Taxes and Tax in respect of earlier years 110.78 Profit after Tax 832.21 Less: Loss of previous year (2398.91) (Deficit) carried to Balance Sheet (1586.70) 1) OPERATIONS FOR THE PERIOD: Fine Chemical Division: The company did trading business during the year. FINANCIAL RESTRUCTURING: As reported last year the company has no dues to any bank or financial institution and there are no secured loans. With the realization of some of the assets the financial position of the company has improved. From the carry forward losses of Rs.2398.91 Lacs previous year, the same are reduced to Rs.1566.70 Lacs this year.