Woolite Mercantile Company Ltd.(WMCL) was incorporated on February 21, 1985 with the Registrar of Companies, Maharashtra, Mumbai, as a public limited xompany and obtained the certificate of commencement of business on March 8,1985.

Business area of the company:

The main object of the company was to carry on the trading in goods and commodities.. During the year ended March 31, 2008 the company earned Interest Income from loans and advances given and is presently engaged in the investing in shares and other securities and other financing activities.

2005-2006 During the financial year 2005-06, the income from share trading, mutual fund trading, mutual fund brokerage, etc increased due to better market conditions. So total income from operations during the financial year increased from Rs.0.94 lakh during the previous year to Rs.4.52 lakh. However, as the company sold its major investment in the financial year 2004-05 itself, its other income reduced from Rs.24.47 lakh to Rs.4.88 lakh. As a result the total income during the year reduced from Rs.27.42 lakh to Rs.9.40 lakh. Due to reduction in the expenses the net profit increased from Rs.1.07 lakh to Rs.4.09 lakh during the year.

2006-2007 During the financial year 2006-07, the company restricted its activities and did not carry any share trading activities. It carried on only mutual fund trading. So the total income & net profit during the year reduced to Rs.2.92 lakh & Rs.0.62 lakh respectively in comparison to previous year figures of Rs.9.40 lakh & Rs.4.09 lakh respectively.

2007-2008 In the financial year 2007-2008 the only income was interest from advances given, since the advances given was higher during the current year in comparison to previous year, hence the total income during the year increased to Rs.3.09 lakh in comparison to Rs.2.92 lakh during the previous year. However, as the expenses in the current year was also lower as compared to previous year as there were no business activities in the company, net profit during the year increased slightly to Rs.0.89 lakh from Rs.0.62 lakh during the previous year.