Mar 31, 2015
Dear Members,
The Directors have great pleasure in submitting their 27th ANNUAL
REPORT on the business & operations of the Company along with the
Audited Balance Sheet and Profit And Loss Account, for the year ended
31st March, 2015.
1. FINANCIAL RESULTS:
Financial Results of the Company for the year under review along with
the figures for previous year are as follows:
(Amount in Rs.)
Consolidated
PARTICULARS Year Ended
2015 2014
Total Income 139,234,674 101,18,70,126
Depreciation 53,16,679 73,07,845
Profit before Taxation 55,72,757 74,73,559
Provision for Taxation 23,59,342 22,33,035
Appropriations
Profit After Tax 32,13,416 52,40,524
Standalone
PARTICULARS Year Ended
2014 2014
Total Income 139,234,674 101,18,70,126
Depreciation 53,16,679 73,07,845
Profit before Taxation 78,64,472 97,88,422
Provision for Taxation 23,59,342 22,33,035
Appropriations
Profit After Tax 55,05,130 75,55,387
2. OPERATIONS:
During the year Company's net profit before tax decrease from Rs.
97,88,422/- (Rupees Ninty Seven lac Eighty Eight Thousand Four Hunderd
Twenty Two Only) to Rs. 78,64,472/- (Rupees Seventy Eight Lac Sixty
Four Thousand Four Hunderd Seventy Two Only). Your Directors expects to
achieve better performance in future and are taking maximum efforts to
control the cost and optimize the results in the coming year.
3. EXPANSION PROGRAMMES:
Good news for your company is that Presently your company has
concentrating on use of precast priestess flow technology one this
experiment / trial is successful, your company is planning to expand
its activities on major housing Affordable Housing Project in Rajasthan
state & nearly areas, like company is in negotiation with related
parties who has got (6) Mega housing projects in Rajasthan costing Rs.
300 Cores. Your company expect bright prospectus in coming time as
newly elected govt. having full majority after 30 years, have
concentrated on infrastructure sector. Not only this Ministry of Urban
Development got allocation of Rs. 4000 /- crore in the current year
budget to focus on especially affordable housing sector. Your company
has got expertise in this segment since 26 years & now time has come to
encasement its 25 years experience Due to this market conditions in
affordable housing sector will boom up.
The company has submitted EOI for skill development programmed under
Rajasthan Skill and Livelihoods Development Corporation (Govt. of
Rajasthan U/T), there by training of skill worker for 3000 students
will be undertaken in next these years at Jhunjhunu, Sikar & Churu
district Under this programmed company will train 5000 skilled workers
in the field of masons / carpenter / plumber / electrician /bar binders
which will give skilled hands to company as well can provide these
skilled worker to other builders also.
As we are aware that it is the mission of new Govt. to development
skilled workers in country so that unskilled youth can get employment
which will directory improve GDP of country.
4. FUTURE PROSPECTS:
The robustness of the Indian Economy is reflected in the fact that
despite challenging headwinds, the Euro zone crisis and a substantially
weaker rupee, India GDP is expected to grow by about 6.5% in 2015-16.
The Company's is optimistic of growth through continued network
expansion and innovation.
5. DIVIDEND:
The Company has not declared any dividend during the year.
6. SHARE CAPITAL:
There is no change in Authorized Capital and Issued Share Capital
during the financial year.
7. FIXED DEPOSITS:
During the year your Company has not accepted any deposits from the
public.
8. DIRECTORS:
During the year Mr. Nilesh Bhaiya Directors of the Company retire by
rotation and being eligible has offered them for re-appointment. The
members are therefore requested to re-appoint them in the forthcoming
Annual General Meeting.
9. SUBSIDIARIES:
The Company has set up a subsidiary unit in Dubai for general trading
activities.
10. DIRECTORS RESPONSIBILITY STATEMENT:
As required under Section 217 (2AA) of the Companies Act, 1956 the
Board of Directors hereby confirms:
i. That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with the proper
explanation relating to material departures.
ii. That the Directors have selected such accounting policies and
applied them consistently and make 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 that period.
iii. That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
iv. That the Directors have prepared the Annual accounts on a going
concern basis.
11. CORPORATE GOVERNANCE:
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion and Analysis Statement, Corporate Governance
Report, CEO, CFO and Auditors' Certificate regarding compliance of
conditions of Corporate Governance are made a part of the Annual
Report.
12. STOCK EXCHANGE REQUIREMENTS:
Being listed at the Bombay Stock Exchange Limited, Mumbai, your Company
has paid listing fees till March, 2015.
13. AUDITORS:
M/s B.M. Gattani & Co., Chartered Accountants, Mumbai, Statutory
Auditors of your Company hold office until the conclusion of the
forthcoming Annual General Meeting and have signified their willingness
to be re-appointment and have further confirmed their re - app ointment
if shall be made shall be within the limits specified under Section 224
(1B) of the Companies Act, 1956.
14. AUDITORS' REPORT:
The notes to Auditors' Report are self explanatory and hence no
explanation is required from the Board as such.
15. CONSERVATION OF ENERGY:
Even though, the major activity of the Company does not involve high
consumption of energy, your Company is making all efforts to optimize
usage of energy.
16. TECHNOLOGY ABSORPTION:
Your Company has not imported any technology, hence no details are
given.
The Company has designed and developed mechanical RC pilling machine
which will reduce the piling labour cost by 60% with improved quality
of construction and will help the reduction in project completion time.
17. PARTICULARS OF EMPLOYEES:
In accordance with the provision of Section 217 of the Companies Act,
1956, read with the Companies (Particulars of Employees) Amendment
Rules 1999 as amended up to date, there were no employees during the
whole or part of the year who were in receipt of remuneration in excess
of limits as mentioned in the said section and hence no details are
given as such.
18. ACKNOWLEDGEMENTS:
Your Directors take this opportunity to place on record, gratitude for
corporation and support received from their Banker, various departments
and agencies of Central and State Government and dedication and
commitment of the staff at all levels, without which the all-round
growth and prosperity of the Company would not have been possible.
Your Directors also appreciate the support provided by the several
overseas and local customers to the Company's marketing efforts and to
the esteemed shareholders who have maintained confidence in the
Company.
By the Order of the Board
Asahi Infrastructure & Projects Limited
Sd/-
L.J.Rathi
(Chairman & Managing Director)
Date: 20th Aug, 2015
Place: Akola
Mar 31, 2014
Dear members,
The Directors have great pleasure in submitting their 26th ANNUAL
REPORT on the business & operations of the Company along with the
Audited Balance Sheet and Profit And Loss Account, for the year ended
31st March, 2014.
1. FINANCIAL RESULTS:
Financial Results of the Company for the year under review along with
the figures for previous year are as follows:
(Amount in Rs.)
Consolidated
PARTICULARS Year Ended
2014 2013
Total Income 101,18,70,126 61,58,32,473
Depreciation 73,07,845 55,66,957
Profit before Taxation 74,73,559 2,17,54,552
Provision for Taxation 22,33,035 52,152
Appropriations
Profit After Tax 52,40,524 2,17,02,400
Standalone
PARTICULARS Year Ended
2014 2013
Total Income 101,18,70,126 61,58,32,473
Depreciation 73,07,845 55,66,957
Profit before Taxation 97,88,422 2,29,22,935
Provision for Taxation 22,33,035 52,152
Appropriations
Profit After Tax 75,55,387 2,28,70,783
2. OPERATIONS:
During the year Company''s net profit before tax decrease from Rs.
2,29,22,935/- (Rupees Two Cr Twenty Nine Lac Twenty Two Thousand Nine
Hundred Thirty Five Only) to Rs. 97,88,422/-(Rupees Ninety Seven
Thousand Eighty Eight Thousand Four Hundred Twenty Two Only). Your
Directors expects to achieve better performance in future and are
taking maximum efforts to control the cost and optimize the results in
the coming year.
3. EXPANSION PROGRAMMES:
Good news for your company is that Presently your company has
concentrating on use of precast priestess flow technology one this
experiment / trial is successful, your company is planning to expand
its activities on major housing Affordable Housing Project in Rajasthan
state & nearly areas, like company is in negotiation with related
parties who has got (6) Mega housing projects in Rajasthan costing Rs.
300 Cores. Your company expect bright prospectus in coming time as
newly elected govt. having full majority after 30 years, have
concentrated on infrastructure sector. Not only this Ministry of Urban
Development got allocation of Rs. 4000 /-crore in the current year
budget to focus on especially affordable housing sector. Your company
has got expertise in this segment since 26 years & now time has come to
encasement its 25 years experience Due to this market conditions in
affordable housing sector will boom up.
The company has submitted EOI for skill development programmed under
Rajasthan Skill and Livelihoods Development Corporation (Govt. of
Rajasthan U/T), there by training of skill worker for 3000 students
will be undertaken in next these years at Jhunjhunu, Sikar & Churu
district Under this programmed company will train 5000 skilled workers
in the field of masons / carpenter / plumber / electrician /bar binders
which will give skilled hands to company as well can provide these
skilled worker to other builders also.
As we are aware that it is the mission of new Govt. to development
skilled workers in country so that unskilled youth can get employment
which will directory improve GDP of country.
4. FUTURE PROSPECTS:
The robustness of the Indian Economy is reflected in the fact that
despite challenging headwinds, the Euro zone crisis and a substantially
weaker rupee, India GDP is expected to grow by about 6.5% in 2014-15.
The Company''s is optimistic of growth through continued network
expansion and innovation.
5. DIVIDEND:
The Company has not declared any dividend during the year.
6. SHARE CAPITAL:
There is no change in Authorized Capital and Issued Share Capital
during the financial year.
7. FIXED DEPOSITS:
During the year your Company has not accepted any deposits from the
public.
8. DIRECTORS:
During the year Mrs. Yasmin Khan Directors of the Company retire by
rotation and being eligible has offered them for re-appointment. The
members are therefore requested to re-appoint them in the forthcoming
Annual General Meeting.
9. SUBSIDIARIES:
The Company has set up a subsidiary unit in Dubai for general trading
activities where profit margin and bottom-line is good. Statement
pursuant to Section 212 is attached herewith.(Annexure I)
10. DIRECTORS RESPONSIBILITY STATEMENT:
As required under Section 217 (2AA) of the Companies Act, 1956 the
Board of Directors hereby confirms:
i. That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with the proper
explanation relating to material departures.
ii. That the Directors have selected such accounting policies and
applied them consistently and make 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 that period.
iii. That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
iv. That the Directors have prepared the Annual accounts on a going
concern basis.
11. CORPORATE GOVERNANCE:
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion and Analysis Statement, Corporate Governance
Report, CEO, CFO and Auditors'' Certificate regarding compliance of
conditions of Corporate Governance are made a part of the Annual
Report.
12. STOCK EXCHANGE REQUIREMENTS:
Being listed at the Bombay Stock Exchange Limited, Mumbai, your Company
has paid listing fees till March, 2014.
13. AUDITORS:
M/s B.M. Gattani & Co., Chartered Accountants, Mumbai, Statutory
Auditors of your Company hold office until the conclusion of the
forthcoming Annual General Meeting and have signified their willingness
to be re-appointment and have further confirmed their re-appointment if
shall be made shall be within the limits specified under Section 224
(1B) of the Companies Act, 1956.
14. AUDITORS'' REPORT:
The notes to Auditors'' Report are self explanatory and hence no
explanation is required from the Board as such.
15. CONSERVATION OF ENERGY:
Even though, the major activity of the Company does not involve high
consumption of energy, your Company is making all efforts to optimize
usage of energy.
16. TECHNOLOGY ABSORPTION:
Your Company has not imported any technology, hence no details are
given.
The Company has designed and developed mechanical RC pilling machine
which will reduce the piling labour cost by 60% with improved quality
of construction and will help the reduction in project completion time.
17. PARTICULARS OF EMPLOYEES:
In accordance with the provision of Section 217 of the Companies Act,
1956, read with the Companies (Particulars of Employees) Amendment
Rules 1999 as amended up to date, there were no employees during the
whole or part of the year who were in receipt of remuneration in excess
of limits as mentioned in the said section and hence no details are
given as such.
18. ACKNOWLEDGEMENTS:
Your Directors take this opportunity to place on record, gratitude for
corporation and support received from their Banker, various departments
and agencies of Central and State Government and dedication and
commitment of the staff at all levels, without which the all-round
growth and prosperity of the Company would not have been possible. Your
Directors also appreciate the support provided by the several overseas
and local customers to the Company''s marketing efforts and to the
esteemed shareholders who have maintained confidence in the Company.
By the Order of the Board
ASAHI INFRASTRUCTURE AND PROJECTS LIMITED
Sd/-
L.J.RATHI
(CHAIRMAN & MANAGING DIRECTOR)
DATE: 16th Aug, 2014
PLACE: AKOLA
Mar 31, 2012
The Directors have great pleasure in submitting their 24th ANNUAL
REPORT on the business & operations of the Company along with the
Audited Balance Sheet and Profit And Loss Account, for the year ended
31st March, 2012.
1. FINANCIAL RESULTS:
Financial Results of the Company for the year under review along with
the figures for previous year are as follows:
(Amount in Rs.)
Consolidated
PARTICULARS Year Ended
2012 2011
Total Income 1,55,83,90,499 5,21,95,22,761
Depreciation 39,28,349 36,26,000
Profit before Taxation 11,40,62,175 41,17,50,790
Provision for Taxation 44215 52,12,542
Appropriations
Profit After Tax 11,40,17,960 40,65,38,248
Standalone
PARTICULARS Year Ended
2012 2011
Total Income 572,932,047 1,475,637,349
Depreciation 3,928,349 3,626,000
Profit before Taxation 20,569,374 33,068,771
Provision for Taxation 44,215 5,212,542
Appropriations
Profit After Tax 20,525,159 27,856,229
2. OPERATIONS:
During the year Company''s net profit before tax decrease from Rs.
33,068,771/- (Rupees Three Crores Thirty Lakhs Sixty Eight Thousand
Seven Hundred Seventy Only) to Rs. 20,569,374/- (Rupees Two Crores Five
Lakhs Sixty Nine Thousand Three Hundred Seventy Four Only). Your
Directors expects to achieve better performance in future and are
taking maximum efforts to control the cost and optimize the results in
the coming year.
3. EXPANSION PROGRAMMES:
The Company has received final sanction with NA from the Govt. of
Rajasthan for executing Affordable Housing Project 2009 under PPP. The
project detail is constructing 1800 houses on 52% land to be handed to
Avas Vikas Ltd. (Govt. of Rajasthan U/T) & 200 Independent Bungalow,
commercial complex & Mini theatre will be installed separately on 48%
land to be developed as per company choice. The total project will be
Rs.200 Cr.
Further the company has taken up project for "Affordable Housing under
PPP model" with Govt. of Rajasthan at Jhunjhunu (Rajasthan) for
construction of 1500 Flats on 52% Land for EWS/LIG/MIG beneficiaries to
be allotted by Govt. directly. The company will construct same no. of
Flats on balance land 48% to be marketed by company. The total built up
area will be are 14 lac Sq. Ft to be completed in 3 years. The Govt. of
Rajasthan has already invited application from 2500 beneficiary in
September 2011. The project was delayed by Govt. due to some problems
by Govt.
Now application for land use convection is in process & likely to
completed by Mid October 2012 & construction will commence by mid
January 2013.
Installation of Slab/Block Manufacturing
Due to MNAREGA scheme high dev in Bihar, Chhattisgarh, getting laborer
for constriction is difficult day by day. To overcome these problems
the company is installing the Priestess Precast Hollow Core slab plant
by German Technology. The plant is fully automatic require 7 operators
yielding 7000 Sq. Ft. Slab/day to be used next day due to steam curing.
Similarly Company is planning to install Automatic concrete Block
making plant capacity 70,000 Blocks per day with German Machinery.
These two major raw materials will be used (75%) for captive use will
result in improvement of bottom line along with quality products & time
saving in construction period.
4. FUTURE PROSPECTS:
The robustness of the Indian Economy is reflected in the fact that
despite challenging headwinds, the Euro zone crisis and a substantially
weaker rupee, India GDP is expected to grow by about 6.5% in 2012-13.
The Company''s is optimistic of growth through continued network
expansion and innovation.
5. DIVIDEND:
The Company has not declared any dividend during the year.
6. SHARE CAPITAL:
There is no change in Authorised Capital and Issued Share Capital
during the financial year.
7. FIXED DEPOSITS:
During the year your Company has not accepted any deposits from the
public.
8. DIRECTORS:
During the year Mr. Gaurang Shah resigned from the directorship of the
Company w.e.f. 28th January, 2012.
During the year Mr. Nilesh M. Bhaiyya and Mr. Venkatarao Karri,
Directors of the Company retire by rotation and being eligible has
offered themselves for re-appointment. The members are therefore
requested to re-appoint them in the forthcoming Annual General Meeting.
9. SUBSIDIARIES:
The Company has set up a subsidiary unit in Dubai for general trading
activities where profit margin and bottom-line is good. Statement
pursuant to Section 212 is attached herewith. (Annexure I)
10. DIRECTORS RESPONSIBILITY STATEMENT:
As required under Section 217 (2AA) of the Companies Act, 1956 the
Board of Directors hereby confirms:
i. That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with the proper
explanation relating to material departures.
ii. That the Directors have selected such accounting policies and
applied them consistently and make 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 that period.
iii. That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
iv. That the Directors have prepared the Annual accounts on a going
concern basis.
11. CORPORATE GOVERNANCE:
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion and Analysis Statement, Corporate Governance
Report, CEO, CFO and Auditors'' Certificate regarding compliance of
conditions of Corporate Governance are made a part of the Annual
Report.
12. STOCK EXCHANGE REQUIREMENTS:
Being listed at the Bombay Stock Exchange Limited, Mumbai, your Company
has paid listing fees till March, 2013. Not Paid  Whether can
delete this item
13. AUDITORS:
M/s B.M. Gattani & Co., Chartered Accountants, Mumbai, Statutory
Auditors of your Company hold office until the conclusion of the
forthcoming Annual General Meeting and have signified their willingness
to be re-appointment and have further confirmed their re-appointment if
shall be made shall be within the limits specified under Section 224
(1B) of the Companies Act, 1956.
14. AUDITORS'' REPORT:
The notes to Auditors'' Report are self explanatory and hence no
explanation is required from the Board as such.
15. CONSERVATION OF ENERGY:
Even though, the major activity of the Company does not involve high
consumption of energy, your Company is making all efforts to optimize
usage of energy.
16.TECHNOLOGY ABSORPTION:
Your Company has not imported any technology, hence no details are
given.
The Company has designed and developed mechanical RC pilling machine
which will reduce the piling labor cost by 60% with improved quality
of construction and will help the reduction in project completion time.
17. PARTICULARS OF EMPLOYEES:
In accordance with the provision of Section 217 of the Companies Act,
1956, read with the Companies (Particulars of Employees) Amendment
Rules 1999 as amended up to date, there were no employees during the
whole or part of the year who were in receipt of remuneration in excess
of limits as mentioned in the said section and hence no details are
given as such.
18. ACKNOWLEDGEMENTS:
Your Directors take this opportunity to place on record, gratitude for
corporation and support received from their Banker, various departments
and agencies of Central and State Government and dedication and
commitment of the staff at all levels, without which the all-round
growth and prosperity of the Company would not have been possible. Your
Directors also appreciate the support provided by the several overseas
and local customers to the Company''s marketing efforts and to the
esteemed shareholders who have maintained confidence in the Company.
By the Order of the Board
ASAHI INFRASTRUCTURE AND PROJECTS LIMITED
Sd/-
DATE: 20th AUGUST, 2012 L.J.RATHI
PLACE: AKOLA (CHAIRMAN &
MANAGING DIRECTOR)
Mar 31, 2011
To, The Members of ASAHI INFRASTRUCTURE & PROJECTS LIMITED, Akola.
The Directors have great pleasure in submitting their 23rd ANNUAL
REPORT on the business & operations of the Company along with the
Audited Balance Sheet and Profit And Loss Account, for the year ended
31st March, 2011.
1. FINANCIAL RESULTS:
Financial Results of the Company for the year under review along with
the figures for previous year are as follows:
(Amount. in Rs.)
CONSOLIDATED
PARTICULARS Year ended
2011 2010
Total Income 5,21,95,22,761 3,67,60,27,885
Depreciation 36,26,000 17,36,482
Profit before taxation 41,17,50,790 35,15,12,172
Provision for taxation 52,12,542 21,38,239
Deferred Tax Liabilities - 44,06,770
Appropriations
Profit after Tax 40,65,38,248 34,93,73,933
STANDALONE
PARTICULARS Year ended
2011 2010
Total Income 1,475,637,349 665,028,508
Depreciation 3,626,000 1,736,482
Profit before taxation 33,068,771 12,111,995
Provision for taxation 5,212,542 2,138,239
Deferred Tax Liabilities - 44,06,770
Appropriations
Profit after Tax 27,856,229 9,973,756
2. OPERATIONS:
The market environment in financial year 2011 was challenging, but
recovery signs made them felt in the second half of the financial year.
A healthy sign was that the average selling price (ASP), which had
remained an area of concern for three quarters, began to firm up from
November onwards, notching up an increase of nearly 20% by the end of
the fiscal year. Your Company continued to strengthen its position in
this rapidly-growing market.
The business has performed well, with productivity gains, growth in
volumes and sustained margins notwithstanding rise in input costs. The
Asahi Infrastructure & Project Ltd. business continues to be successful
despite of several environmental constraints. The Company''s ability to
neutralize cost increase and improve margins together with purchasing
efficiencies, improvement in manufacturing yield/ usage and expenses
control helped in increasing the profitability. The performance had
established a new milestone for the Company.
During the year Companies performance was satisfactory in comparison to
previous year as net profit before tax is increased from Rs.
34,98,56,386 to Rs.41,17,50,790
3. EXPANSION PROGRAMMES:
The Company has received final sanction from the Govt. of Rajasthan for
executing Affordable Housing Project 2009 under PPP. The project detail
is constructing 1800 houses on 52% land to be handed to Avas Vikas Ltd.
(Govt. of Rajasthan U/T) & 200 Independent Bungalow, commercial complex
& Mini theatre will be installed separately on 48% land to be developed
as per company choice. The total project will be Rs.200 Cr.
The Company has received a work order for infrastructure Development
for Nagar Parishad Pawani (Dist. Bhandara) for Rs. 11 Cr. under
Integrated Housing and Slum Development Programme (IHSDP). Also company
received 2 work order for 129 houses & infrastructure at Malkapur
(Dist. Buldhana) under IHSDP Rs. 2.52 Cr.
4. DIVIDEND:
The Company has not declared any dividend during the year.
5. SHARE CAPITAL:
The Company''s share capital has been increased by issue of 1,45,00,000
equity shares of Re.1 each pursuant to Conversion of Warrants into
equity shares.
Further pursuant to Consolidation of Share Capital of the Company due
to reclassification the existing paid up value of shares is increased
from Re.1/- to Rs.10/ - .
6. FIXED DEPOSITS:
During the year your company has not accepted any deposits from the
public.
7. SUBSIDIARIES:
The Company has set up a subsidiary unit in Dubai for general trading
activities where profit margin and bottom-line is good. Statement
pursuant to Section 212 is attached herewith.
8. DIRECTORS:
During the year Mr. Gaurang Shah & and Mrs. Yasmin Khan Directors,
retire by rotation and being eligible has offered themselves for re-
appointment. The members are requested to re- appoint them in the
forthcoming Annual General Meeting.
9. DIRECTORS RESPONSIBILITY STATEMENT:
As required under section 217 (2AA) of the Companies Act, 1956 the
Board of Directors hereby confirms:
i. That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
ii. That the Directors have 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 that period.
iii. That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
iv. That the Directors have prepared the Annual accounts on a going
concern basis.
10. CORPORATE GOVERNANCE:
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion and Analysis, Corporate Governance Report, CEO,
CFO and Auditors'' Certificate regarding compliance of conditions of
Corporate Governance are made a part of the Annual Report.
11. STOCK EXCHANGE REQUIREMENTS:
Being listed at The Bombay Stock Exchange Limited, Mumbai, your company
has paid listing fees till March, 2012.
12. AUDITORS:
M/s B.M. Gattani & Co., Chartered Accountants, Mumbai, Statutory
Auditors of your company holds office until the conclusion of the
forthcoming Annual General Meeting and have signified their willingness
to be re-appointment and have further confirmed that their appointment
if made shall be within the limits specified under Section 224 (1B) of
the Companies Act, 1956.
13. AUDITORS'' REPORT:
The notes to Auditors Reports are self explanatory and hence no
explanation is required from the Board as such.
14. CONSERVATION OF ENERGY:
Even though, the major activity of your company does not involve high
consumption of energy, your company is making all efforts to optimize
usage of energy.
15. TECHNOLOGY ABSORPTION:
Your Company has not imported any technology, hence no details are
given.
The Company has designed and developed mechanical RC pilling machine
which will reduce the piling labour cost by 60% with improved quality
of construction and will help the reduction in project completion time.
16. PARTICULARS OF EMPLOYEES:
In accordance with the provision of Section 217 of the Companies Act,
1956, read with the Companies (Particulars of Employees) Amendment
Rules 1999 as amended up to date, there were no employees during the
whole or part of the year who were in receipt of remuneration in excess
of limits as mentioned in the said section and hence no details are
given as such.
17. ACKNOWLDEGEMENTS:
Your Directors take this opportunity to place on record, gratitude for
corporation and support received from their Banker, various departments
and agencies of Central and State Government and dedication and
commitment of the staff at all levels, without which the all- round
growth and prosperity of the Company would not have been possible. The
company is thankful to HDFC Bank Ltd. for providing CC loan of Rs. 60
lakhs during the year. Your Directors also appreciate the support
provided by the several overseas and local customers to the Company''s
marketing efforts and to the esteemed shareholders who have maintained
confidence in the Company.
BY ORDER OF THE BOARD
ASAHI INFRASTRUCTURE & PROJECTS LIMITED
DATE: 31st August, 2011 Sd/-
PLACE: Akola Prof. L. J. RATHI
(CHAIRMAN & MANAGING DIRECTOR)
Mar 31, 2010
The Directors have great pleasure in submitting their 22nd ANNUAL
REPORT on the business & operations of the Company along with the
Audited Balance Sheet and Profit And Loss Account, for the year ended
31st March, 2010.
1. FINANCIAL RESULTS:
Financial Results of the Company for the year under review along with
the figures for previous year are as follows:
(Amount. in Rs.)
PARTICULARS Year ended
2010 2009
Total Income 366,13,40,704 45,50,45,762
Depreciation 17,36,482 17,00,048
Profit before taxation 34,98,56,386 17,11,361
Provision for taxation 21,38,239 35,473
Deferred Tax Liabilities 44,06,770 44,06,770
Appropriations
Profit after Tax 34,77,18,147 16,75,888
Amount available for appropriations
2. OPERATIONS:
The market environment in financial year 2010 was challenging, but
recovery signs made themselves felt in the second half of the financial
year. A healthy sign was that the average selling price (ASP), which
had remained an area of concern for three quarters, began to firm up
from November onwards, notching up an increase of nearly 20% by the end
of the fiscal year. Your Company continued to strengthen its position
in this rapidly-growing market.
The business has performed well, with productivity gains, growth in
volumes and sustained margins notwithstanding rise in input costs. The
ABC Ltd. business continues to be successful despite of several
environmental constraints. The Companys ability to neutralize cost
increase and improve margins together with purchasing efficiencies,
improvement in manufacturing yield/usage and expenses control helped in
increasing the profitability. The performance had established a new
milestone for the Company.
During the year Companies performance was satisfactory in comparison to
previous year as net profit before tax is increased from Rs. 17,11,361
to Rs. 34,98,56,386 in spite of same sales.
3. EXPANSION PROGRAMMERS:
The Board has approved the installation of the manufacturing of Fly Ash
gypsum Brick plant at Three sites on at Partur Dist, Jalna and Two more
to be identified. It has also approved to manufacture and market the
precat ferro-cement building components on large scale. The Board has
considered toget PWD registration in "Class -1 No Limit" from Govt. of
Maharashtra, Rajasthan, Chhattisgarh to undertake State highways
project under PPP and authorised Mr. L.J.Rathi, Managing Director to
take the necessary steps for the same.
4. ALLOTMENT OF WARRANTS;
As members are aware, your Company allotted warrants amounting to
8,45,00,000 convertible warrants carrying right to subscribe for equity
shares of Rs.1/- each at a price of Rs.1.35 per shares to the concerned
allottees after taking in principal approval from Bombay Stock Exchange
Limited dt.07th June, 2010.
5. SHARE CAPITAL
In the EGM held on 17th May 2010, the company has resolved to increase
the existing Authorised Share Capital of the Company from Rs.
35,00,00,000 (Rupees Thirty Five Crores only) divided into 35,00,00,000
(Thirty Five Crores) Equity Shares of Re.1/- (Rupee One only) each to
50,00,00,000/- (Rupees Fifty Crores Only) divided into 50,00,00,000
(Fifty Crores) Equity Shares of Re.1/- (Rupee One only) each.
The Board of Directors has proposed to consolidate the authorised
capital by reclassifying the existing paid up value of shares from
Re.1/- to Rs.10/- .
Your approval for the same is being sought at the ensuing Annual
General Meeting
6. DIVIDEND
The Board recommended 5% final dividend for the year ended on 31st
March 2010 subject to approval of Shareholders in the ensuing Annual
General Meeting.
7. FIXED DEPOSITS:
During the year your company has not accepted any deposits from the
public.
8. SUBSIDIARIES:
The company has set up a Subsidiary unit in Dubai for general trading
activities where profit margin and bottom-line is good.
9. DIRECTORS:
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mrs. Yasmin Khan was appointed
as an Additional Director of the Company, w.e.f 23rd April, 2010.
Pursuant to Section 260 of the Companies Act, 1956, the Additional
Director of the Company holds office upto the forthcoming Annual
General Meeting of the Company; hence members are requested to
re-appoint her in the forthcoming Annual General Meeting of the
Company.
Mr. Hemendra Shah has resigned from the office of the director w.e.f.
23rd April, 2010. Your directors place on record their appreciation for
the valuable services rendered by him in the capacity of director of
the Company.
During the year Mr. Venkatrao Karri and Mr. Nilesh Bhaiyya Directors,
retire by rotation and being eligible has offered themselves for
re-appointment. The members are requested to re-appoint them in the
forthcoming Annual General Meeting.
10. DIRECTORS RESPONSIBILITY STATEMENT:
As required under section 217 (2AA) of the Companies Act, 1956 the
Board of Directors hereby confirms:
i. That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
ii. That the Directors have 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 that period.
iii. That the Directors have taken proper and sufficient care for the
maintenances of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
iv. That the Directors have prepared the Annual accounts on a going
concern basis.
11. CORPORATE. GOVERNANCE :
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion and Analysis , Corporate Governance Report,
CEO,CFO and Auditorsà Certificate regarding compliance of conditions of
Corporate Governance are made a part of the Annual Report.
12. STOCK EXCHANGE REQUIREMENTS:
Being listed at The Bombay Stock Exchange Limited, Mumbai, your company
has paid listing fees till March, 2011.
13. AUDITORS:
M/s. B. M. Gattani & Co., Chartered Accountants, Mumbai, Statutory
Auditors of your company holds office until the conclusion of the
forthcoming Annual General Meeting and have signified their willingness
to be re-appointment and have further confirmed that their appointment
if made shall be within the limits specified under Section 224 (1B) of
the Companies Act, 1956.
14. AUDITORSÃ REPORT
The notes to Auditors Reports are self explanatory and hence no
explanation is required from the Board as such.
15. CONSERVATION OF ENERGY:
Even though, the major activity of your company does not involve high
consumption of energy, your company is making all efforts to optimize
usage of energy.
16. TECHNOLOGY ABSORPTION:
Your Company has not imported any technology, hence no details are
given.
The company has designed and developed mechanical RC pilling machine
which will reduce the piling labour cost by 60% with improved quality
of construction and will help the reduction the in project completion
time.
17. PARTICULARS OF EMPLOYEES:
In accordance with the provision of Section 217 of the Companies Act,
1956, read with the Companies (Particulars of Employees) Amendment
Rules 1999 as amended up to date, there were no employees during the
whole or part of the year who were in receipt of remuneration in excess
of limits as mentioned in the said section and hence no details are
given as such.
18. ACKNOWLEDGEMENTS:
Your Directors take this opportunity to place on record, gratitude for
corporation and support received from their Banker, various departments
and agencies of Central and State Government and dedication and
commitment of the staff at all levels, without which the all-round
growth and prosperity of the Company would not have been possible. Your
Directors also appreciate the support provided by the several overseas
and local customers to the CompanyÃs marketing efforts and to the
esteemed shareholders who have maintained confidence in the Company.
DATE: 31st July, 2010 BY ORDER OF THE BOARD
PLACE: AKOLA ASAHI INFRASTRUCTURE & PROJECTS LIMITED
Sd/-
Prof. L. J. RATHI
(CHAIRMAN & MANAGING DIRECTOR)