Jupiter Industries & Leasing Ltd Management Discussions

JUPITER INDUSTRIES AND LEASING LIMITED ANNUAL REPORT 2005-2006 MANAGEMENT DISCUSSION AND ANALYSIS 1. FINANCIAL RESULTS Year ended Year ended 31-03-2006 31-03-2005 Rupees Rupees Profit/(Loss) before Depreciation 4,55,268 (1,96,689) Less : Depreciation provided for the year 16,88,638 17,02,650 Profit/(Loss) for the year (12,33,370) (18,99,339) Excess/(Short) provision of tax for earlier years 5,24,462 - Profit/(Loss) after tax (7,08,908) (18,99,339) Add: Balance brought forward from the previous year (1,78,61,607) (1,59,62,268) Amount carried to balance sheet (1,85,70,515) (1,78,61,607) OPERATIONS & PROSPECTS Since Manish Estates Pvt. Ltd., a company owned, managed and controlled by the guarantor Mr. C.D. Shah refused to meet the dues of the Company to Canara Bank from the surplus of the sale proceeds of its Worli property which was auctioned by the Honble DRT, the Company is not in a position to carry out any business activity.