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Directors Report of Amrapali Capital & Finance Services Ltd.

Mar 31, 2014

Dear Members,

The Directors have the pleasure of presenting the Twentieth Annual Report of your Company together with the audited accounts for the year ended 31st March, 2014.

1. FINANCIAL RESULTS

The summary of financial results for the year is given below:

(Rs. In lacs) Particulars 2013-14 2012-13

Sales & Operatinq Income 107.92 1367.13

Other Income 526.30 589.93

Total Revenue 634.22 1957.06

Operating Profits (PBDIT) 133.85 202.5

Less: Depreciation 27.85 42.98

Interest 69.69 134.76

Profit Before Tax & Exceptional Items 36.31 24.76

Less: Exceptional Items 0.00 0.00

Current Tax 11.22 7.7

Profit after Tax 25.09 17.06

2. DIVIDEND

Your Directors have not declared any dividend during the year under review. The entire profit ploughed back to business.

3. REVIEW OF BUSINESS OPERATION

During the year under review, your company has registered the turnover of Rs. 102.92 Lacs against the turnover of Rs. 1367.13 Lacs of previous year. The overall increase in cost is due to increase in the number of employees, increase in assets and increase in purchase of traded goods. Further the interest expense had decreased to Rs. 69.69 lacs against Rs. 134.76 Lacs which had considerably impacted over the profit of the Company. The Profit before Tax for the current year is Rs. 25.09 Lacs as against Rs. 17.06 Lacs of previous year.

4. CORPORATE GOVERNANCE REPORT

Pursuant to Clause 52 of the SME Equity Listing Agreement with the Stock Exchange, Report on Corporate Governance and a certificate from the Statutory Auditors of the Company confirming compliance of the same has been included in the Annual Report as a separate section.

5. DIRECTORS

During the year under review, Mr. Ashwin P. Shah is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, have proposed for re-appointment.

Brief resumes of the director being reappointed together with other relevant details form part of the Notice of the ensuing Annual General Meeting. The Board recommends their re- appointment.

6. AUDITORS AND AUDITORS'' REPORT:

M/s. Mehul Thakkar & Co., Chartered Accountants, Ahmedabad, Statutory Auditors of the Company, holds office until the conclusion of the Twenty Third (23rd) Annual General Meeting subject to ratification of the appointment by the members at every AGM held after this AGM. The observations made by the Auditors'' in their Auditors'' Report and the Notes on Accounts referred to in the Auditors'' Report are self-explanatory and do not call for any further comments.

7. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the companies act, 1956, the Board of Directors of the company hereby state and confirm that:-

a. In the preparation of the annual accounts, the applicable accounting Standards had been followed along with proper explanation relating to material Departures.

b. 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 and of the profit of the company for the year under review.

c. The directors had 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.

d. The directors had prepared the account on going on concern basis.

PARTICULARS OF THE EMPLOYEES

The Company had not paid any remuneration attracting the provisions of section 217(2A) of the Companies Act, 1956 read along with the Companies (Particulars of Employees) Rules, 1975. Hence, no information is required to be appended to this report in this regard.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of conservation of energy, technology absorption etc. as required to be given under Section 217(1)(e) of the Companies Act 1956, are not applicable to our Company, as our Company has not carried out in the manufacturing activities.

The foreign exchange earnings on account of the operation of the Company during the year were Rs. Nil.

ACKNOWLEDGEMENT:

Your Directors would like to express their sincere appreciation for the assistance and co- operation received from the Banks, Government Authorities, Customers and Shareholders during the year. Your directors also wish to take on record their deep sense of appreciation for the committed services of the employees at all levels, which has made our Company successful in the business.

For and on Behalf of the Board For, AMRAPALI CAPITAL AND FINANCE SERVICES LIMITED

Place : Ahmedabad (CHIRAG THAKKAR) Date : August 28, 2014 Managing Director


Mar 31, 2013

Dear Members,

The Directors have the pleasure of presenting the Thirteenth Annual Report of your Company together with the audited accounts for the year ended 31st March, 2013.

1. FINANCIAL RESULTS

The summary of financial results for the year is given below:

Particulars 2012-13 2011-12

Sales & Operating income 13,67,12,780 8,52,15,322

Other Income 5,89,92,794 2,75,62,201

Total Revenue 19,57,05,574 11,27,77,523

Operating Profits (PBDIT) 2,02,49,336 2,27,80,165

Less: Depreciation 4,29,77,83 66,44,648

Interest 1,34,75,582 1,48,21,629

Profit Before Tax & Exceptional Items 24,75,971 13,13,888

Less: Exceptional Items 0.00 0.00

Current Tax 7,70,000 19,945

Provision for Taxation 0.00 0.00

Provision for deferred Tax Liability 0.00 0.00

Profit after Tax 17,05,971 12,93,943

2. DIVIDEND

With a view to conserve resources, your directors have not recommended any dividend for the year under review.

3. REVIEW OF BUSINESS OPERATION

During the year under review, your company has registered the turnover of Rs. 13,67,12,780 against the turnover of Rs, 8,52,15,322 of previous year. The Profit before Tax for the current year is Rs. 24,75,971 as against Rs. 13,13,888 of previous year.

4. DIRECTORS

During the year under review, Saurabh Shah and Shankar Bhagat are liable to retire by rotation at the ensuing Annual General Meeting and being eligible, have been proposed for re- appointment.

Brief resumes of the directors being reappointed together with other relevant details form part of the Notice of the ensuing Annual General Meeting. The Board recommends their reappointments.

5. AUDITORS

M/s Mehul Thakker & Co.., Chartered Accountants, auditors of the Company, retire at the conclusion of the ensuing annual general meeting, ajd offer themselves for re-appointment. Your directors also recommend their appointment

Pursuant to Section 217(2AA) of the companies act, 1956, the Board of Directors of the company

hereby state and confirm that:-

(a) In the preparation of the annual accounts, the applicable accounting Standards had been followed along with proper explanation relating to material Departures.

(b) 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 and of the profit of the company for the year under review.

(c) The directors had 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.

(d) The directors had prepared the account on going on concern basis.

PARTICULARS OF THE EMPLOYEES

The Company had not paid any remuneration attracting the provisions of section 217(2A) of the Companies Act, 1956 read along with the Companies (Particulars of Employees) Rules, 1975. Hence, no information is required to be appended to this report in this regard.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

The Company is doing the utmost for conservation of Energy. As regards Technology Absorption, the same is nil. During the year there were no foreign exchange earnings and outgo.

ACKNOWLEDGMENTS:

Your Directors express their sincere appreciation for the valuable assistance and co-operation extended to the company by its Customers, Bankers, Financial Institutions, State and Central Government Authorities, Service Providers, Contractors and the Stake Holders.

Your Directors also wish to place on record their appreciation of the dedicated services and valuable contribution by the employees of the company at all levels.

For and behalf of the Board of Directors Chirg Thakkar Chairman & Managing Director

Place: Ahmedabad Date: September 5, 2013

 
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