Punit Commercials Ltd Management Discussions.

PUNIT COMMERCIALS LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: A brief summary of the working of the year under review of the company is given below. Current Year Previous Year 2007-08 2006-07 Sales 4,81,25,053 6,02,14,950 Other Income 5,61,854 4,48,132 4,86,86,907 6,06,63,082 Profit before Tax (8,848) 2,328 Less: Provision for Income-Tax Income Tax 1,000 300 Fringe Benefit Tax 400 - Prior Period Adjustment for Income tax - 50,239 Profit after Tax (7,448) (48,210) Add: Opening Balance b/f. 1,26,08,909 1,26,57,119 1,26,16,357 1,26,08,908 Appropriation: (Excess)/Short Provision for Income tax 11,324 Nil Balance carried to Balance Sheet 1,26,05,033 1,26,08,908 BUSINESS PERFORMANCE: Due to the recession in the Diamond Market the company was not been able to maintain its sales and profit earning trend.