Indian Bright Steel Company Ltd Management Discussions.

INDIAN BRIGHT STEEL COMPANY LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: For the For the Current Year Previous Year 2007-2008 (Rs.) 2006-2007 (Rs.) Profit/(Loss) before Depreciation/adjustment (1,88,294) (41,926) Less: Depreciation/prior 0.00 (1,100) period adjustment Less: Short prav. For (1,28,408) 0.00 IT for earlier years w/off Net Profit (Loss) for the year (3,16,702) (43,026) Add: Losses brought down from earlier year (44,18,129) (43,75,103) Balance Losses carried (47,34,831) (44,18,129) to Balance Sheet WORKING: There has been no progress towards re-commencement of the companys manufacturing activities. All efforts are being made to make headway in this direction.