HARIG CRANKSHAFTS LIMITED
ANNUAL REPORT 2008-2009
MANAGEMENT DISCUSSION AND ANALYSIS
(Rs. In Lacs)
Total Income 2011.84 4247.85
Operating Profit 208.68 661.30
Less: Interest 297.36 248.10
Cash Accruals -88.68 413.20
Less: Depreciation 308.09 307.66
Profit/Loss before Tax -396.77 105.54
Provision for Taxation (including FBT) 3.32 13.84
Profit/Loss after Tax -400.09 91.70
During the year under review, the auto industry witnessed turbulent times,
which affected the performance of automobile majors, and cheaper import of
crankshafts from China. Your Company also suffered on account of decline
in demand due to these factors. The Government of India also imposed
dumping duty on cheap crankshafts import. The Government of India
announced stimulus packages for revival of the industry and the demand for
vehicles and auto components is reviving.
FUTURE OUTLOOK AND PROSPECTS
With the announcement of stimulus packages by the Government of India the
automobile industry is showing signs of revival and outlook for the next
couple of years remains positive. The new crankshafts machining line is
likely to commence commercial production by January 2010, and shall
improve the profitability of the Company.
However, the availability and price of steel are the major cause of
concern for the industry.
Start investing in Equities, Derivatives, Mutual Funds and Currency
Temporary Password will be sent to your Mobile No. / Email Address to reset your password.
Make smart financial decisions
Trusted by more than 25 Lakhs Indians
Research and Stocks
Strategy and Tools
StockReports+ will be available soon.
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.