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Directors Report of Alliance Integrated Metaliks Ltd.

Jun 30, 2015

The Directors are pleased to present the 26th Annual Report on the business and operations of your Company along with the standalone financial statements for the financial year ended 30th June, 2015.

FINANCIAL RESULTS (Rupees in Lacs)

PARTICULARS Year ended Year ended 30th June, 2015 30th June, 2014

Revenue from Operations 43312.42 52567.40

Expenditures 46013.32 52474.90

Profit/(loss) before Taxation (2700.90) 92.50

Tax Expenses (869.08) (6.64)

Profit/(loss) after Tax (1831.82) 99.14

Add: Accumulated Profits 53.43 30.34

Balance Available for appropriation (1778.39) 129.48 APPROPRIATION

Dividend on Preference Shares 65.00 65.00

Tax on Dividend of Preference Shares 11.20 11.05

Net Profit/(loss) Transferred to Balance Sheet (1854.59) 53.43

PERFORMANCE

During the year under review, the Company earned revenue from operations amounting to Rs. 43312.42 Lacs as compared to Rs. 52567.40 Lacs in the previous year. Loss after Tax stood at Rs. 1831.82 as against Profit after Tax of Rs. 99.14 lacs in the previous year.

DIVIDEND

The Board of Directors has not recommended any dividend for the financial year ended 30.06.2015.

STATE OF COMPANY'S AFFAIRS

The state of affairs of the Company is presented as part of the Management Discussion and Analysis Report forming part of the Annual Report.

CORPORATE GOVERNANCE

As stipulated under Clause 49 of the Listing Agreement executed with the Stock Exchanges, the report on Management Discussion and Analysis, the Report on Corporate Governance and the requisite Certificate from the Auditors of the Company confirming compliance with the conditions of Corporate Governance are provided in a separate section and forms part of the Annual Report.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the provisions contained in Section 134(5) of the Companies Act, 2013, the Directors hereby confirm that:

a) in the preparation of the annual accounts for the year ended 30th June, 2015, the applicable Accounting Standards have been followed and there are no material departures from the same;

b) the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 30th June, 2015 and of the loss of the Company for that period;

c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the Directors have prepared the Annual Accounts on a going concern basis;

e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

SUBSIDIARIES AND ASSOCIATES

The Company has following Associate Companies as on June 30, 2015:

S. No. Name of the Company Status

1 ARGL Limited Associate

2 ACIL Limited Associate

The Company does not have any subsidiary or joint venture as on June 30, 2015.

In accordance with proviso to sub-section (3) of Section 129 of the Companies Act 2013, a statement containing salient features of the financial statements of the Company's associates and the report on their performance and financial position in Form AOC-1 is annexed to the financial statements and forms part of the Annual Report, which covers the financial position of the associate Companies. (Annexure-I)

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Subsequent to the year under review, Mr. Ashish Pandit (DIN: 00139001) and Mr. Sunil Kumar Mahalwal (DIN: 00499382), Independent Directors of the Company have resigned from the Company effective from May 28, 2015. The Board wishes to place on record, their appreciation for the contribution made by them as the Directors of the Company during their association with the Company.

Further, Pursuant to the provisions of sub-section (4) of Section 161 of the Companies Act, 2013 and to meet the requirement of Section 149 of the Companies Act, 2013 and the Listing Agreement, Mr. Devinder Singh Sodhi (DIN: 06459840) and Mr. Gaurav Pabby (DIN: 07190551) were appointed as the Non-executive, Independent Directors on the Board of the Company effective from May 28, 2015 to fill the casual vacancies caused by the resignation of Mr. Ashish Pandit and Mr. Sunil Kumar Mahalwal. Mr. Gauran Pabby and Mr. Devinder Singh Sodhi are proposed to be appointed as the Independent Directors in the ensuing Annual General Meeting.

During the year under review, to meet the requirement of Section 149 of the Companies Act, 2013 and the Listing Agreement, the Board of Directors co-opted Ms. Ankita Wadhawan (DIN: 06971383) on the Board as a woman Director effective from March 31, 2015. Ms. Wadhawan is proposed to be appointed as an Independent Director in the ensuing Annual General Meeting.

Pursuant to Section 203 of the Companies Act, 2015 the Board of Directors of the Company appointed Mr. Pawan Kumar as Chief Financial Officer of the Company effective from August 29, 2014.

Pursuant to the provisions of Section 196, 197, 198 and 203 read with Schedule V of the Companies Act, 2013 and relevant rules issued thereunder, Mr. Daljit Singh Chahal (DIN: 03331560) was appointed as Whole-time Director on the Board of the Company in the last Annual General Meeting of the Company held on 27th December, 2014 for a period of five years commencing from December 2, 2014 to December 1, 2019.

Mr. Mahesh Ochani, (DIN: 01199650) Director of the Company retires by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment. The Board of Directors recommends his appointment.

A brief resume of the Directors proposed to be appointed / re-appointed, as required under Clause 49 of the Listing Agreement and Companies Act 2013, forms part of the notice convening Annual General Meeting.

FAMILIARIZATION PROGRAMME

Details of the familiarization programmer of the Independent Directors are available on the website of the Company (URL:http://www.aiml.in/investors.php)

INDEPENDENT DIRECTORS DECLARATION

The Company has received the necessary declaration from each Independent Director in accordance with Section 149 (7) of the Companies Act, 2013, that they meet the criteria of independence as provided in Section 149(6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

BOARD MEETINGS

The Board met 8 times during the year, the details of which are provided in the Corporate Governance Report that forms part of this Annual Report. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013 and the Listing Agreement.

BOARD EVALUATION

The Board evaluated the effectiveness of its functioning and that of the committees and of individual Directors by seeking their inputs on various aspects of Board/Committee governance such as the Board composition and structure, effectiveness of board processes, active participation and contribution of directors in the Board/ Committee meetings and the fulfillment of Directors obligation and their fiduciary responsibilities.

Further, the Independent Directors at their meeting, reviewed the performance of the Board, Chairman of the Board and of Non Executive Directors. The meeting also reviewed the co-ordination between the Company management and the Board which is required for the Board to effectively and reasonably perform their duties.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. To maintain its objectivity and independence, the internal audit function reports to the chairman of the Audit Committee and all significant audit observations and corrective actions are presented to the Committee.

STATUTORY AUDITORS AND AUDITORS' REPORT

M/s A.C. Gupta & Associates, Chartered Accountants, Statutory Auditors of the Company (Firm Regd. No: 008079N) have confirmed their eligibility and willingness to accept office, if reappointed. The proposal for ratification of their reappointment is included in the notice for Annual General Meeting sent herewith.

The Company has received a consent letter from the statutory auditors for their appointment, and a certificate from them that their appointment, if made, shall be in accordance with the conditions as prescribed under the Companies Act, 2013 and that they are not disqualified for appointment.

The Auditor's Report does not contain any qualifications, reservations or adverse remarks. The Report is attached hereto and is self-explanatory requiring no elucidation.

SECRETARIAL AUDIT

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s S. Khurana & Associates, Company Secretaries to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit in Form MR 3 for the Financial Year ended June 30, 2015 is annexed as Annexure II to the Report. There are no qualifications, reservations or adverse remarks made by Secretarial Auditor in their report.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Disclosure on particulars relating to loans, guarantees or investments under section 186 of the Companies Act, 2013 have been provided as part of the financial statements.

TRANSACTIONS WITH RELATED PARTIES

In accordance with Section 134(3) (h) of the Companies Act, 2013 read with Rule 8(2) of Companies (Accounts) Rules, 2014, the particulars of contracts or arrangements with related parties, referred to in Section 188(1) of the Companies Act, 2013, in the prescribed Form AOC-2 is attached as Annexure III to this Report.

EXTRACT OF ANNUAL RETURN

In terms of Section 134(3)(a) of the Companies Act, 2013 read with Rule 12(1) of Companies (Management & Administration) Rules, 2014, the extract of Annual Return of the Company in Form MGT-9 is attached as Annexure IV to this Report.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The details as required under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of Companies (Accounts) Rules, 2014, regarding conservation of energy, technology absorption and foreign exchange earnings and outgo are attached as Annexure V to this Report.

COMMITTEES OF THE BOARD

The Company's Board has the following Committees:

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders Relationship Committee

4. Corporate Social Responsibility Committee

The details of the membership and attendance at the meetings of the above Committees of the board are provided in the Corporate Governance Section of the annual report.

POLICY ON APPOINTMENT AND REMUNERATION

Pursuant to Section 178(3) of the Companies Act 2013, the Nomination and Remuneration Committee of the Board has framed a policy for selection and appointment of Directors and senior management personnel, which inter alia includes the criteria for determining qualifications, positive attributes and independence of a Director(s)/Key managerial personnel and their remuneration..

CORPORATE SOCIAL RESPONSIBILITY

A brief outline of the Corporate Social Responsibility Policy of the Company and the related details for the year 2014-2015 are set out in Annexure VI of this report as per the format prescribed in the Companies (Corporate Social Responsibility Policy) Rules, 2014. The Composition of CSR committee and other related details are provided in the Corporate Governance section, forming part of this Report. The policy is available on the website of the Company.

AUDIT COMMITTEE

The Audit Committee comprises Mr. Gaurav Pabby, Independent Director as Chairman and Mr. Devinder Singh Sodhi, Independent Director and Mr. Avijit Banerjee, Non-Executive Director as Members. The Board of Directors have accepted all the recommendation of the Audit Committee.

VIGIL MECHANISM

The Company has in place a vigil mechanism in the form of Whistle Blower Policy. It aims at providing avenues for employees to raise complaints and to receive feedback on any action taken and seeks to reassure the employees that they will be protected against victimization and for any whistle blowing conducted by them in good faith. The policy is intended to encourage and enable the employees of the Company to raise serious concerns within the organization rather than overlooking a problem or handling it externally.

The Company is committed to the highest possible standard of openness, probity and accountability. It contains safeguards to protect any person who uses the Vigil Mechanism by raising any concern in good faith. The Company protects the identity of the whistle blower if the whistle blower so desires, however the whistle blower needs to attend any disciplinary hearing or proceedings as may be required for investigation of the complaint. The mechanism provides for a detailed complaint and investigation process.

If circumstances so require, the employee can make a complaint directly to the Chairman of the Audit Committee. The Company also provides a platform to its employees for having direct access to the Managing Director. The Company Secretary is the Compliance Officer. The confidentiality of those reporting violations is maintained and they are not subjected to any discriminatory practice.

RISK MANAGEMENT

The Company has developed and implemented a Risk Management Policy. The details of elements of risk are provided in the Management Discussion and Analysis section of the Annual Report.

ANTI SEXUAL HARASSMENT POLICY

The Company has in place an Anti Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Complaints Committee has been set up to redress complaints received regarding sexual harassment. All women employees (permanent, contractual, temporary, trainees) are covered under this policy. During the year 2014-15, no complaints were received by the committee.

PARTICULARS OF EMPLOYEES

The details as required in terms of the provisions of Section 197 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are attached as Annexure - VII to this Report.

The particulars of employees as required in terms of the provisions of Section 197 read with Rule 5 (2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is Nil.

PUBLIC DEPOSITS

During the year under review, the Company has not accepted any deposits from public, members or employees under the Companies Act, 2013 and as such, no amount of principal or interest on public deposits was outstanding as on the date of balance sheet.

SIGNIFICANT AND MATERIAL ORDERS

No significant and material orders have been passed by any regulators or courts or tribunals impacting the going concern status and Company's operations in future.

DEMATERIALISATION AND LISTING

The equity shares of the Company are admitted to the depository system of National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). As on 30th June 2015, 92,42,499 Equity Shares representing 79.59% of the Equity Share Capital of the Company are in dematerialized form. The Equity Shares of the Company are compulsorily traded in dematerialized form as mandated by the Securities and Exchange Board of India (SEBI). The International Securities Identification Number (ISIN) allotted to the Company with respect to its Equity Shares is INE 123D01016.

The Equity shares of the Company are listed on BSE Limited, Ahmedabad Stock Exchange Limited and Jaipur Stock Exchange Limited.

RECONCILIATION OF SHARE CAPITAL AUDIT

As per the directive of the Securities & Exchange Board of India, the Reconciliation of Share Capital Audit was carried out on quarterly basis for the quarter ended September 30, 2014, December 31, 2014, March 31, 2014 and June 30, 2015 by a Company Secretary in Practise. The purpose of the audit was to reconcile the total number of shares held in National Securities Depository Limited (NSDL), Central Depository Services (India) Limited (CDSL) and in physical form with respect to admitted, issued and paid up capital of the Company.

The aforesaid Reports of Reconciliation of Share Capital were submitted to the the BSE Limited, Ahemdabad Stock Exchange Limited and Jaipur Stock Exchange Limited where the equity shares of the Company are listed.

INDUSTRIAL RELATIONS

During the year under review, the relations between the Management and the workmen were highly cordial. Human resources initiatives such as skill up gradation, training, appropriate reward & recognition systems and productivity improvement were the key focus areas for development of the employees of the Company.

INVESTOR RELATIONS

Your Company always endeavors to promptly respond to shareholders' requests/grievances. Each and every issue raised by the shareholders is taken up with utmost priority and every effort is made to resolve the same at the earliest. The Stakeholders Relationship Committee of the Board periodically reviews the status of the redressal of investors' grievances.

ACKNOWLEDGEMENT

Your Directors wish to place on record the sincere and dedicated efforts of all the employee of the Company. Your Directors also take this opportunity to offer their sincere thanks to the Financial Institutions, Banks and other Government Agencies, valued customers and the investors for their continued support, co-operation and assistance.

By Order of the Board

For Alliance Integrated Metaliks Limited

Sd/-

Place : New Delhi

(Avijit Banerjee)

Date : 26th August, 2015 Chairman

DIN: 01357534


Jun 30, 2014

THE MEMBERS,

ALLIANCE INTEGRATED METALIKS LIMITED

The Directors take pleasure in presenting the Twenty-Fifth Annual Report together with the Audited Annual Accounts of the Company for the financial year ended 30th June, 2014.

FINANCIAL RESULTS (Rupees in Lacs)

PARTICULARS 2013-2014 2012-2013

Revenue from Operations 52567.40 17203.22

Expenditures 52474.90 17180.63

Profit before Taxation 92.50 22.59

Tax Expenses (6.64) (7.29)

Profit after Tax 99.14 29.88

ADD:-Accumulated Profits 30.34 10.94

Balance available for appropriation 129.48 40.82

APPROPRIATIONS

Dividend on Preference Shares 65.00 9.08

Tax on Dividend of Preference Shares 11.05 1.40

Net Profit Transferred to Balance Sheet 53.43 30.34

COMPANY OVERVIEW

AIML is engaged in the process of manufacturing of steel and processing of alloy products catering primarily to automobile applications and, also for industrial, defence and engineering applications. It is also engaged in the manufacture of sponge iron, hot briquetted iron, iron ore pellets, pig iron, alloy steel billets, blooms, ingots and rolled products, auto components and processors. The Company''s business interests include:

1. Manufacturing of power plants BTG, BOP support structures to any configuration in welded/bolted connection options & ducting solutions

2. Manufacturing of welded/riveted steel girders as per IRS B-1 codes in any grade of steel and any profile

3. Manufacturing of sugar plant components/turnkey fabrication solutions for sugar/cement/ petrochemical plants

4. Manufacturing of composite deck columns & beam solutions in steel or composite construction, for multi-storey buildings and sky scrapers as per codal requirements

5. Manufacturing of portals and crane girders for heavy PEB''s applications

6. Design & build any complex structure for nuclear power plant, aerospace and defence technology by using optimum grade steel like domex, duplex on demand

7. Organised system based erection and launching solutions for structures and bridge girders on demand

8. Design and build options on demand

BUSINESS PERFORMANCE

During the year under review, the Company has earned revenue from Operations of Rs. 52567.40 lacs as compared to Rs. 17203.22 lacs in the previous year. EBITDA is Rs. 5859.77 lacs as compared to Rs. 2093.63 lacs in the previous yeaar. Profit after tax (PAT) stood at Rs 99.14 lacs as against Rs. 29.88 lacs in the previous year.

CHANGE IN CAPITAL STRUCUTRE

During the year under review, the Company bought back 38,50,000 equity shares, due to which Issued, Subscribed and Paid-up Capital of the Company has reduced from Rs. 80,46,25,000 (Rupees Eighty Crores Forty Six Lacs and Twenty Five Thousand) divided into 1,54,62,500 Equity Shares of Rs. 10/- each and 6,50,00,000 Preference Shares of Rs. 10/- each to Rs. 76,61,25,000 (Rupees Seventy Six Crores, Sixty One Lacs and Twenty Five Thousand) divided into 116,12,500 Equity Shares of Rs. 10/- each and 650,00,000 Preference Shares of Rs. 10/ - each.

DIVIDEND

For the year ended 30th June, 2014, the Board of Directors have recommended dividend @ 1% on Fully Paid- up Redeemable Non Cumulative Preference Shares. No dividend is recommended on Equity Shares of the Company. The total outgo on account of dividend on Preference Shares will be Rs. 76.05 lacs (including dividend tax of Rs.11.05 lacs).

DIRECTORS

During the year under review, Mr. Avijit Banerjee (DIN- 01357534), Director of the Company retires at the ensuing Annual General Meeting in accordance with Section 152(6) of the Companies Act, 2013, and being eligible offers himself for re-appointment.

Pursuant to Companies Act, 2013, Mr. Ashish Pandit (DIN: 00139001) and Mr. Sunil Kumar Mahalwal (DIN: 00499382), Directors are proposed to be appointed as Independent Directors of the Company. The Company has received declarations from them confirming that they meet the criteria of independent Director as prescribed under sub-section (6) of Section 149 of the Companies Act, 2013 and under Clause 49 of the Listing Agreement with the Stock Exchange.

Further, the tenure of Mr. Mahesh Ochani (DIN: 01199650) as Managing Director of the Company comes to an end on 2nd December, 2014, and as per the Companies Act, 2013 there is requirement to appoint Managing Director, or Chief Executive Officer or Manager and in their absence, a Whole-time director. Accordingly, the Board has appointed Mr. Daljit Singh Chahal, Director of the Company as its Whole-time Director subject to the approval of the shareholders of the Company.

Brief resume of the Directors proposed to be appointed/re-appointed as stipulated under Clause 49 of the Listing Agreements is provided in the notice forming part of the Annual Report. Further, the companies in which they hold memberships/chairmanships of Board Committees, is provided in the Corporate Governance Section of this Annual Report.

AUDITOR''S REPORT

The Auditors Report attached hereto is self explanatory and therefore, does not call for any further comments.

AUDITORS

M/s A.C. Gupta & Associates, Chartered Accountants, Statutory Auditors of the Company, retire at the ensuing Annual General Meeting of the Company and have expressed their willingness for reappointment as Statutory Auditors in accordance with the Companies Act, 2013 and confirmed that their reappointment, if made, will be within the prescribed limits under Section 141(3)(g) of the Companies Act, 2013 and they are not disqualified for such reappointment within the meaning of Section 141 of the said act.

COST AUDITORS

In terms of Section 148 of the Companies Act, 2013, Mr. Yash Pal Sardana (Membership No. 17996) Practicing Cost Accountant was appointed by the Board to audit the cost records of the Company for the year ended 30th June, 2015.

PUBLIC DEPOSITS

During the year under review, the Company has not accepted any deposits from public.

DE-MATERIALISATION OF SHARES

The Company has admitted its equity shares to the depository system of National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) for dematerialisation of shares. The International Securities Identification Number (ISIN) allotted to the Company with respect to Equity Shares is INE 123D01016. The Equity Shares of the Company are compulsorily traded in dematerialized form as mandated by the Securities and Exchange Board of India (SEBI).

As on 30th June, 2014 9,24,2500 Equity Shares representing 79.59% of your Company''s Equity Share capital are in dematerialized form.

LISTING AT STOCK EXCHANGES

The shares of the Company are listed on The Bombay Stock Exchange Limited, The Ahmedabad Stock Exchange Limited, The Delhi Stock Exchange Association Limited and The Jaipur Stock Exchange Limited.

The Company has paid the annual listing fee to the Stock exchanges for the year 2014- 2015.

STATUTORY INFORMATION

- Particulars of Employees under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended are Nil.

- Statutory details of Energy Conservation and Technology Absorption, R & D activities and Foreign Exchange Earnings & Outgo as required under Section 217(1)(e) of the Companies Act, 1956 and rules prescribed there under i.e. the Companies (Disclosure of Particulars in Report of Board of Directors) Rules, 1988 are given in the Annexure and form part of this Annual Report.

RECONCILIATION OF SHARE CAPITAL AUDIT

As per the directive of the Securities & Exchange Board of India ("SEBI"), M/s Iqneet Kaur & Company, Company Secretaries, New Delhi, undertakes the Share Capital Audit on a quarterly basis. The purpose of the audit is to reconcile the total number of shares held in National Securities Depository Limited (NSDL), Central Depository Services (India) Limited (CDSL) and in physical form with the admitted, issued and paid up capital of the Company.

The Share Capital Audit Reports as submitted by M/s Iqneet Kaur & Company, Company Secretaries, New Delhi, on quarterly basis was forwarded to all the Stock Exchanges, where the Equity Shares of the Company are listed.

CASH FLOW STATEMENT

As required by Clause 32 of the Listing Agreement a Cash Flow Statement is annexed and forms part of this Annual Report.

CORPORATE GOVERNANCE

A separate Section on Corporate Governance, Management Discussion and Analysis and the certificate from the CEO, CFO and Company''s Statutory Auditors as required under Clause 49 of the Listing Agreement with stock exchange, is forming part of the Annual Report.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors'' Responsibility Statement, it is hereby confirmed: -

1. that in the preparation of the annual accounts for the period ended on 30.06.2014 the applicable accounting standards have been followed;

2. that the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company and of the profit of the Company for the year under review;

3. that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

4. that the annual accounts have been prepared on a going concern basis.

INDUSTRIAL RELATIONS

During the year under review, the relations between the management and the workmen were highly cordial.

INVESTOR RELATIONS

Your Company always endeavors to promptly respond to shareholders'' requests/grievances. Each and every issue raised by the shareholders is taken up with utmost priority and every effort is made to resolve the same at the earliest. The Stakeholders Relationship Committee of the Board periodically reviews the status of the redressal of investors'' grievances.

EMPLOYEES'' WELFARE

The Company continued to implement the employee welfare programmes and schemes with utmost zeal. The welfare programmes were constantly reviewed and improvements were made wherever necessary.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation for all the stakeholders including all the employees of the Company for their dedicated efforts. Your Directors also take this opportunity to offer their sincere thanks to the Financial Institutions, Banks and other Government Authorities for their continued support.

By Order of the Board For Alliance Integrated Metaliks Limited Sd/- Place : New Delhi (Ashish Pandit) Date : 02.12.2014 Chairman DIN: 00139001


Jun 30, 2013

TO THE MEMBERS,of ALLIANCE INTEGRATED METALIKS LIMITED

The Directors take pleasure in presenting the Twenty-Fourth Annual Report together with the Audited Annual Accounts of the Company for the financial year ended 30th June, 2013.

FINANCIAL RESULTS (Rupees in Lacs)

PARTICULARS 2012-2013 2011-2012

Revenue from Operations 17203.22 2726.43

Expenditures 17180.63 2718.50

Profit before Taxation 22.59 7.93

Tax Expenses (7.29) 3.74

Profit after Tax 29.88 4.19

ADD:-Accumulated Profits 10.94 6.75

Balance available for appropriation 40.82 10.94

APPROPRIATIONS

Dividend on Preference Shares 9.08

Tax on Dividend of Preference Shares 1.40

Net Profit Transferred to Balance Sheet 30.34 10.94

PERFORMANCE

During the year under review, the Company has earned revenue from Operations of Rs. 17203.22 lacs as compared to Rs. 2726.43 lacs in the previous year. Profit after tax (PAT) stood at Rs 29.88 lacs as against Rs. 4.19 lacs in the previous year.

CHANGE IN CAPITAL STRUCUTRE

During the year under review, the Authorised share capital of your Company was increased from Rs. 55,00,00,000 (Rupees Fifty Five Crores) divided into 3,00,00,000 (Three Crores) Equity Shares of Rs. 10/- each and 2,50,00,000 (Two Crores Fifty Lacs) Preference Shares of Rs. 10/- each to Rs.1,00,00,00,000 (Rupees One Hundred Crores) divided into 3,00,00,000 (Three Crores) Equity Shares of Rs. 10/- each and 7,00,00,000 (Seven Crores) Preference Shares of Rs. 10/- each.

The company has allotted 6,50,00,000 (Six Crore and Fifty Lacs) fully paid 1% Redeemable Non Cumulative Preference Shares of face value of Rs. 10/- each at a premium of Rs. 90/- per share to M/s W.L.D. Investments Private Limited.

DIVIDEND

For the year ended 30th June, 2013, the Board of Directors recommends dividend @ 1% on Fully Paid-up Redeemable Non Cumulative Preference Shares for the year ended 30th June, 2013. However, in view of the ongoing expansion projects of the Company no dividend is recommended on Equity Shares of the Company. The total outgo on account of dividend on Preference Shares will be Rs. 10.48 lacs (including dividend tax of Rs.1.40 lacs).

DIRECTORS

Mr. Sunil Kumar retires at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

AUDITOR REPORT

The Auditor''s Report attached hereto is self explanatory and therefore, does not call for any further comments. AUDITORS

M/s A.C. Gupta & Associates, Chartered Accountants, Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept the office if re-appointed. The Audit Committee and your Directors recommend the re-appointment of M/s A.C. Gupta & Associates.

The Company has received letter from M/s A.C. Gupta & Associates, Chartered Accountants, to the effect that their re-appointment, if made, would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956 and that they are not disqualified from such appointment in terms of Section 226 of the Companies Act, 1956.

COST AUDITOR

Pursuant to the Companies (Cost Accounting Records) Rules, 2011 issued by the Ministry of Corporate Affairs, Mr.Yash Pal Sardana (membership No. 17996) Practicing Cost Accountant, was appointed to conduct audit of cost records of Company''s Plant for the year ended 30th June, 2013.Cost Auditor Reports would be submitted within prescribed time.

PUBLIC DEPOSITS

During the year under review, the Company has not accepted any public deposits within the meaning of Section 58A and 58AA of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975. Hence no information is required to be furnished in this respect.

DE- MATERIALISATION OF SHARES

Company''s Equity Shares are available for de- materialization on both the depositories ''viz., NSDL & CDSL. Shareholders may be aware that SEBI has made trading in your Company''s shares mandatorily in de-materialized form. As on 30th June, 2013, 11,672,000 Equity Shares representing 75.49% of your Company''s Equity Share capital have been de-materialized.

LISTING AT STOCK EXCHANGES

The shares of Company are listed on Bombay Stock Exchange Limited, Delhi Stock Exchange Limited, Jaipur Stock Exchange Limited and Ahmedabad Stock Exchange Limited.

The Company has paid the annual listing fee to the Stock exchanges for the year 2013- 2014.

STATUTORY INFORMATION

- Particulars of Employees under Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended are Nil.

- Statutory details of Energy Conservation and Technology Absorption, R & D activities and Foreign Exchange Earnings & Outgo as required under Section 217(1) (e) of the Companies Act, 1956 and rules prescribed there under i.e. the Companies (Disclosure of Particulars in Report of Board of Directors) Rules, 1988 are given in the Annexure and form part of this Annual Report.

FOREIGN EXCHANGE EARNINGS AND OUTGO

Foreign Exchange earned - Nil Foreign Exchange outgo - 70.82 Lacs

BUY BACK

In accordance with the provisions of Section 77A, 77AA and 77B of the Companies Act, 1956 and SEBI (Buy Back of Securities) Regulations, 1998, the shareholders of the Company have approved the Buy Back of 38,50,000 fully paid Equity Shares for a price not exceeding Rs. 171/- through postal ballot.

CORPORATE GOVERNANCE

A separate section on Corporate Governance forms part of Directors'' Report and the certificate from the Managing Director and Auditors confirming compliance of Corporate Governance norms as stipulated in Clause 49 of the Listing Agreement with the Stock Exchange''s is included in this Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis Report as required under clause 49 of the Listing Agreement with Stock Exchanges is presented in a separate section forming part of this Annual Report.

INDUSTRIAL RELATIONS

During the year under review, the relations between the management and the workmen were highly cordial. INVESTOR RELATIONS

Your Company always endeavors to promptly respond to shareholder''s requests / grievances. Each and every issue raised by the shareholder''s is taken up with utmost priority and every effort is made to resolve the same at the earliest. The Shareholders'' and Investors'' Grievances Committee of the Board periodically reviews the status of the redressal of investors'' grievances.

EMPLOYEE''S WELFARE

The Company continued to implement the employee welfare programmes and schemes with utmost zeal. The welfare programmes were constantly reviewed and improvements were made wherever necessary.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, as amended by Companies (Amendment) Act, 2000 with respect to Directors'' Responsibility Statement, it is hereby confirmed:-

- that in the preparation of the annual accounts for the year ended 30th June, 2013, the applicable Accounting Standards have been followed;

- that the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year (30th June, 2013) and of the profit or loss of the Company for the period under review (2012-2013);

- that the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

- that the Directors had prepared the annual accounts on a going concern basis.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation to all the stakeholders including all the employees of the Company for their dedicated efforts. Your Directors also take this opportunity to offer their sincere thanks to the Financial Institutions, Banks and other Government Authorities for their continued support.

By Order of the Board

For Alliance Integrated Metaliks Limited

Sd/-

Place : New Delhi (Ashish Pandit)

Date : 5th December, 2013 Chairman

 
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