mayfair india ltd share price Management discussions


MAYFAIR INDIA LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS For the year ended For the year ended 31st March, 2008 31st March, 2007 Rs. Rs. Rs. Rs. FINANCIAL RESULTS Profit before Depreciation 24255857 1131436 and Taxation Less: Depreciation 88253 92973 Provision for Taxation: Current Tax 2420000 250000 MAT Credit Entitlement (1666294) Fringe Benefits Tax 9400 17500 Deferred Tax (149601) 701758 50461 410934 Liability(Asset) Profit after Taxation 23554099 720502 Add: Balance 31223379 30883039 brought forward from previous year Tax adjustment for 60171 (294162) earlier years Available for 54837649 31309379 appropriation The Directors recommend 4710900 86000 this amount to be appropriated as under Transferred to NBFC Reserve Fund Balance carried to 50126749 31223379 Balance Sheet 54837649 31309379 WORKING RESULTS: fhe profit after tax for the year ended 31st March, 2008 was more than three times higher than the previous year due to favourable market condition prevailing almost through out the year. The prospects for the current year seem to be challenging because fo deteriorating economic condition.