gandhidham spg mfg co ltd Management discussions


GANDHIDHAM SPINNING AND MANUFACTURING COMPANY LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: The operations of the Company remained suspended during the financial year ended 31st March, 2008. During the year under review, the company has earned a profit of Rs.15,35,159.12 (previous year Rs. 2,10,405.97). Since there were losses in the past therefore a total loss upto the date is arrived at Rs. 3,31,20,528.91. Your Directors recommended this amount to be carried forward in the balance sheet. OPERATIONS: The Plant operations of the company remained suspended throughout the year as was since July 1986. As presented in previous years report, your management has restored the factory building and got constructed boundry wall as required and necessary to protect the company assets in a shape that will give longer life in the times to come. All the expenses in the connection have been suitably accounted in the current year. Your directors are also on looking for suitable projects for the revival of the Company, which can be finalized once all legal cases and other existing obstacles though in process are removed completely. In the mean time your directors have rented the property to earn on till new projects are conceived and become due for implementation. The Directors have been making temporary advances to the Company from time to time to meet its routine expenses. The outstanding amount payable to directors as on 31st March 2008 is Rs.68,05,589/-, (previous year 61,40,589/-).