| 1. CONTINGENT LIABILITIES
In our opinion and to the best of our information and according to the
explanations given to us, we report that the Company has disputed sales
tax liability in contingent nature. As per the assessment order
provided to us, we state that the Company has sales tnx liability of
Rs. 13,661,826 for the year 2000-2001. The appeal has been filed
before Gujarat Sales Tax Tribunal. We further report that the survey
had been done at the factory premises by Sales Tax Department as op
13-02-2008, however no assessment order has been received yet.
2. SEGMENT REPORTING The Company is operating in textile segment only.
3. EARNINGS PER SHARE
The amount considered in ascertaining the Company's earnings per
share constitutes the net profit after tax. The number of shares used
in computing basic earnings per share is the weighted avenge number of
shares outstanding during the year. The number of shares used in
computing diluted earnings per share comprises the weighted average
number of shares considered for deriving basic earnings per share and
also the weighted average number of shares which could have been issued
on conversion of all dilutive potential shares.
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