IP PINS AND LINERS LIMITED
ANNUAL REPORT 2005-2006
MANAGEMENT DISCUSSION AND ANALYSIS
The company has successfully completed the expansion project both in pins
and tooling areas and benefits of capacity increase are accruing from the
later part of the financial year. During the year under review, the
companys income increased substantially from Rs. 677.25 lakhs to Rs.
947.72 lakhs. The increase in sales is mainly on account of sales of pins
to the existing customer base. With expanded tooling capacity, the company
has also started catering to a few new customers.
While Input costs moved up marginally during the year, the impact of the
increases was more than offset by the volume increase. Consequently the
profit before tax moved up from Rs. 100.54 lakhs to Rs. 179.54 lakhs. After
providing for Rs. 52.00 lakhs towards current tax, Rs. 3,90 lakhs towards
deferred tax and Rs. 1.30 lakhs towards Fringe Benefit Tax, the profit
after tax resulted in Rs. 122.33 lakhs as against Rs. 62.28 lakhs in the
The company is considering investments for balancing of capacities in both
pins and tooling areas during 2006-2007 to fully utilize the expanded
capacity in order to maintain its growth rate in phase with that of
customer requirements. The company is also contemplating further expansion
/ introduction of new technologies during the current financial year.
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