Mar 31, 2014
DEAR MEMBERS,
The Directors are pleased to present the Annual Report and Audited
Accounts of the Company for the financial year ended 31st March, 2014.
FINANCIAL PERFORMANCE (Rs in Lacs) (Rs in Lacs)
year ended year ended
31.3.2014 31.3.2013
Gross Sale 322.72 358.51
Other Income 5.78 1.09
Operating Profit 53.94 51.59
Less : Interest 0.74 0.28
Gross Profit 53.20 51.31
Less : Depreciation 32.12 33.06
Profit/(Loss) Before Tax 21.08 18.25
Less : Taxation 0.00 0.00
Profit/(Loss) After Tax 21.08 18.25
DIVIDEND
Your Directors do not recommend any dividend for the year.
DIRECTORS
Mr. Tushar Ash is an Independent Director whose period of office liable
to determination by retirement of directors by rotation under the
erstwhile applicable provisions of the Companies Act, 1956. Mr. Ash
being eligible and offering himself for appointment, is proposed to be
appointed as a Independent Director for five consecutive years from the
conclusion of this Annual General Meeting to the Annual General Meeting
for the Financial Year ended 31st March 2019.
Mr. Tapan Majumdar is an Independent Director whose period of office
liable to determination by retirement of directors by rotation under
the erstwhile applicable provisions of the Companies Act, 1956. Mr.
Majumdar being eligible and offering himself for appointment, is
proposed to be appointed as a Independent Director for five consecutive
years from the conclusion of this Annual General Meeting to the Annual
General Meeting for the Financial Year ended 31st March 2019.
Mr. Amit Kumar Jain is an Independent Director whose period of office
liable to determination by retirement of directors by rotation under
the erstwhile applicable provisions of the Companies Act, 1956. Mr.
Jain being eligible and offering himself for appointment, is proposed
to be appointed as a Independent Director for five consecutive years
from the conclusion of this Annual General Meeting to the Annual
General Meeting for the Financial Year ended 31st March 2019.
Mr. S. Banerjee is an Independent Director whose period of office
liable to determination by retirement of directors by rotation under
the erstwhile applicable provisions of the Companies Act, 1956. Mr.
Banerjee being eligible and offering himself for appointment, is
proposed to be appointed as a Independent Director for five consecutive
years from the conclusion of this Annual General Meeting to the Annual
General Meeting for the Financial Year ended 31st March 2019.
DIRECTORS'' RESPONSIBILITY STATEMENT
Statement underSub-Section (2AA) of Section 217 ofthe Act.
In the preparation ofthe Annual Accounts :
i) the applicable accounting standards have been followed and wherever
required, proper explanations relating to material departures have been
given,
ii) 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 at the end ofthe financial year and ofthe profit ofthe
Company for that period,
iii) proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions ofthe Act
for safeguarding the assets ofthe Company and for preventing and
detecting fraud and other irregularities,
iv) the accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE
The Company has proper system of Corporate Governance. A separate
report on Corporate Governance is enclosed as part of this Annual
Report of the Company. A Certificate from the auditors confirming
compliance of Corporate Governance as stipulated under Clause 49 of the
Listing Agreement is annexed to the report.
CONSERVATION OF ENERGY, TECHNICAL ABSORPTION AND RESEARCH & DEVELOPMENT
As required under Section 217 (1) (e) ofthe Companies Act, 1956 read
with Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, information regarding Conservation of Energy,
Technology Absorption and Research & Development is not applicable to
the Company.
ENVIRONMENT, SAFETY AND QUALITY CONTROL
Your Company does not produce any hazardous effluents or pollutions.
Your Company has high priority highest safety standards in operations
at all levels. It has a zero accidents record during the year. The
Company has complied with Quality System Audit for ISO 9002 and has
obtained the certification from KMAQA of Korea.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars as required under section 217(1 )(e) of the Companies
Act, 1956 read with Companies (Disclosure of Particulars in the Report
of Board of Directors) Rules 1988 are given as Annexure and form a part
of this report.
INDUSTRIAL RELATIONS
The Company is maintaining cordial relation with staff and workers. The
Company has maintained high standard of quality and work practices
throughout the year.
PARTICULARS OF EMPLOYEES
The Company has no employee in respect of whom information as required
under section 217 (2A) of the Companies Act, 1956 read with Companies
(Particulars Of Employees) Rules 1975 is required to be annexed.
AUDITORS& AUDITORS'' REPORT
M/s A. K.S. & Associates, Chartered Accountants statutory auditors
ofthe Company hold office until conclusion ofthe forthcoming Annual
General Meeting and are eligible for reappointment.
The Company has received a certificate from them to the effect that
their reappointment, if made, would be within the limits prescribed
under Section 224(IB) ofthe Companies Act, 1956.
The Auditors'' Report read with the Notes on Accounts are
self-explanatory and therefore, do not call for any further comments.
ACKNOWLEDGEMENT
Your Directors express their sincere thanks and place on record their
deep appreciation of the valuable patronage extended by the
shareholders, valued customers, financial institutions, bankers,
Government authorities and the Investors for their continued support
and confidence in the Company. Your Directors also thank the employees
for their support and for the confidence reposed in the future of this
Company.
For & On Behalf of the Board of Directors
Date : 30th May, 2014 Ranjan Kuthari
Place: Kolkata Chairman & Managing Director
Mar 31, 2013
Dear Members,
The Directors are pleased to present the Annual Report and Audited
Accounts of the Company for the financial year ended 31st March, 2013.
FINANCIAL PERFORMANCE (Rs in Lacs) (Rs in Lacs)
year ended year ended
31.3.2013 31.3.2012
Gross Sale 358.51 390.95
Other Income 1.09 0.29
Operating Profit 51.59 48.49
Less : Interest 0.28 0.39
Gross Profit 51.31 48.10
Less : Depreciation 33.06 37.37
Profit/(Loss) Before Tax 18.25 10.73
Less : Taxation 0.00 0.00
Profit/(Loss) After Tax 18.25 5.58
DIVIDEND
Your Directors do not recommend any dividend for the year.
DIRECTORS
Mr. Tushar Ash and Mr. S. Banerjee, Directors of the Company, retire by
rotation at the ensuing Annual General Meeting and, being eligible,
offer themselves for re-appointment.
DIRECTORS'' RESPONSIBILITY STATEMENT
Statement under Sub-Section (2AA) of Section 217 of the Act.
In the preparation of the Annual Accounts :
i) the applicable accounting standards have been followed and wherever
required, proper explanations relating to material departures have been
given,
ii) 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 at the end of the financial year and of the profit of
the Company for that period,
iii) proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities,
iv) the accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE
The Company has proper system of Corporate Governance. A separate
report on Corporate Governance is enclosed as part of this Annual
Report of the Company. A Certificate from the auditors confirming
compliance of Corporate Governance as stipulated under Clause 49 of the
Listing Agreement is annexed to the report.
CONSERVATION OF ENERGY, TECHNICAL ABSORPTION AND RESEARCH & DEVELOPMENT
As required under Section 217 (1) (e) of the Companies Act, 1956 read
with Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, information regarding Conservation of Energy,
Technology Absorption and Research & Development is not applicable to
the Company.
ENVIRONMENT, SAFETY AND QUALITY CONTROL
Your Company does not produce any hazardous effluents or pollutions.
Your Company has high priority highest safety standards in operations
at all levels. It has a zero accidents record during the year. The
Company has complied with Quality System Audit for ISO 9002 and has
obtained the certification from KMAQA of Korea.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars as required under section 217(1 )(e) of the Companies
Act, 1956 read with Companies (Disclosure of Particulars in the Report
of Board of Directors) Rules 1988 are given as Annexure and form a part
of this report.
INDUSTRIAL RELATIONS
The Company is maintaining cordial relation with staff and workers. The
Company has maintained high standard of quality and work practices
throughout the year.
PARTICULARS OF EMPLOYEES
The Company has no employee in respect of whom information as required
under section 217 (2A) of the Companies Act, 1956 read with Companies
(Particulars Of Employees) Rules 1975 is required to be annexed.
AUDITORS & AUDITORS'' REPORT
M/s A. K.S. & Associates, Chartered Accountants statutory auditors of
the Company hold office until conclusion of the forthcoming Annual
General Meeting and are eligible for reappointment.
The Company has received a certificate from them to the effect that
their reappointment, if made, would be within the limits prescribed
under Section 224(IB) of the Companies Act, 1956.
The Auditors'' Report read with the Notes on Accounts are
self-explanatory and therefore, do not call for any further comments.
ACKNOWLEDGEMENT
Your Directors express their sincere thanks and place on record their
deep appreciation of the valuable patronage extended by the
shareholders, valued customers, financial institutions, bankers,
Government authorities and the Investors for their continued support
and confidence in the Company. Your Directors also thank the employees
for their support and for the confidence reposed in the future of this
Company.
For & On Behalf of the Board of Directors
Date : 29th May, 2013 Ranjan Kuthari
Place: Kolkata Chairman & Managing Director
Mar 31, 2010
The Directors are pleased to present the Annual Report and Audited
Accounts of the Company for the financial year ended 31st March, 2010.
FINANCIAL PERFORMANCE (Rs in Lacs) (Rs in Lacs)
year ended 31.3.2010 year ended 31.3.2009
Gross Sale 380.94 450.89
Other Income 8.96 1.27
Operating Profit 78.65 104.46
Less : Interest 7.19 29.28
Gross Profit 71.46 75.18
Less : Depreciation 39.02 44.76
Profit/(Loss) Before Tax 32.44 30.42
Less : Taxation 0.00 0.00
Profit/(Loss) After Tax 32.44 30.42
DIVIDEND
Your Directors do not recomend any dividend for the year.
DIRECTORS
Mrs. Renu Kuthari and Mr. N.C. Banerjee, Directors of the Company,
retire by rotation at the ensuing Annual General Meeting and, being
eligible, offer themselves for re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT
Statement under Sub-Section (2AA) of Section 217 of the Act. In the
preparation of the Annual Accounts :
i) the applicable accounting standards have been followed and wherever
required, proper explanations relating to material departures have been
given, ii) 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 at the end of the financial year and of the
profit of the Company for that period, iii) proper and sufficient care
has been taken for the maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding the assets
of the Company and for preventing and detecting fraud and other
irregularities, iv) the accounts have been prepared on a going concern
basis.
CORPORATE GOVERNANCE
The Company has proper system of Corporate Governance. A separate
report on Corporate Governance is enclosed as part of this Annual
Report of the Company. A Certificate from the auditors confirming
compliance of Corporate Governance as stipulated under Clause 49 of the
Listing Agreement is annexed to the report.
CONSERVATION OF ENERGY, TECHNICAL ABSORPTION AND RESEARCH & DEVELOPMENT
As required under Section 217 (1) (e) of the Companies Act, 1956 read
with Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, information regarding Conservation of Energy,
Technology Absorption and Research & Development is not applicable to
the Company.
ENVIRONMENT, SAFETY AND QUALITY CONTROL
Your Company does not produce any hazardous effluent or pollutions.
Your Company has high priority highest safety standards in operations
at all levels. It has a zero accidents record during the year. The
Company has complied with Quality System Audit for ISO 9002 and has
obtained the certification from KMAQA of Korea.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars as required under section 217(1)(e) of the Companies
Act, 1956 read with Companies (Disclosure of Particulars in the Report
of Board of Directors) Rules 1988 are given as Annexure and form a part
of this report.
INDUSTRIAL RELATIONS
The Company is maintaining cordial relation with staff and workers. The
Company has maintained high standard of quality and work practices
throughout the year.
PARTICULARS OF EMPLOYEES
The Company has no employee in respect of whom information as required
under section 217 (2A) of the Companies Act, 1956 read with Companies
(Particulars Of Employees) Rules 1975 is required to be annexed.
AUDITORS & AUDITORS REPORT
M/s A. K.S. & Associates, Chartered Accountants statutory auditors of
the Company hold office until conclusion of the forthcoming Annual
General Meeting and are eligible for reappointment.
The Company has received a certificate from them to the effect that
their reappointment, if made, would be within the limits prescribed
under Section 224(IB) of the Companies Act, 1956.
The Auditors Report read with the Notes on Accounts are
self-explanatory and therefore, do not call for any further comments.
ACKNOWLEDGEMENT
Your Directors express their sincere thanks and place on record their
deep appreciation of the valuable patronage extended by the
shareholders, valued customers, financial institutions, bankers,
Government authorities and the Investors for their continued support
and confidence in the Company. Your Directors also thank the employees
for their support and for the confidence reposed in the future of this
Company.
For & On Behalf of the Board of Directors
Date : 31st August, 2010
Ranjan Kuthari
Place: Kolkata Chairman & Managing Director