Jun 30, 2014
Dear Members,
The Directors are happy to present the Annual Report of the Company
together with the Audited Accounts for the year ended June 30th 2014.
FINANCIAL RESULTS:
Current year Previous year
ended 30.06.2014 ended 30.06.2013
Income/(Loss) from Operation 213282507 168965075
Expenditure 150114517 166701620
Gross Profit/(Loss) before Tax 63167990 2263455
Less/ Add:-Income Tax paid/W.Back - -
Profit/ Loss after Tax 63167990 2263455
PERFORMANCE:
During the current financial year, the turnover of the company is Rs.
140200720 as compared to Rs. 154202520 in the previous financial year.
Moreover, our Company has made profit of Rs. 63167990 as compared to
Rs. 2263455 during last year. This is mainly due to better utilization
of capital expenditure and other cost saving measures taken by the
company. The Company is hopeful of maintaining and improving its
position in the future.
DIVIDEND:
In order to conserve resources for expanding the business, your
Directors have opined not to recommend any dividend for the year
2013-2014.
MATERIAL CHANGE:
There was no material change affecting the financial position of the
Company between the date of balance Sheet and the date of this Report.
TRANSFER OF SHARES:
During the year under review there was transfer of 1800 shares on 24th
Day of November 2014.
MANAGEMENT DISCUSSIONS AND ANALYSIS:
As per clause 49 of the Listing Agreement with the Stock Exchanges, the
Management Discussion and Analysis report is appended herein,
CORPORATE GOVERNANCE:
A Report on Corporate Governance as required under Clause 49 of the
Listing Agreement entered into with the Stock Exchanges, forms part of
the Annual Report. A certificate from M/s Parveen Rastogi & Co.,
Company Secretaries confirming compliance with the conditions of
Corporate governance as stipulated under the aforesaid Clause 49, also
forms part of the Annual Report,
PARTICULARS OF EMPLOYEES:
There is no information required to be given as per section 217(2A)
Companies Act, 1956 read with the Companies (particulars of Employees)
rules, 1975 for the year under review as none of the employees falls in
this category.
COMPOSITION OF THE BOARD;
A brief resume of all the Directors, nature of their expertise in
specific functional areas and names of companies in which they hold
directorships, memberships/ chairmanships of Board Committees and their
shareholding in the Company are provided below:
SUBHASH JAIN : Mr., Subhash lain, Executive Director aged about 60 years
graduated from Delhi University in 1976 and experience in Marketing
over 40 years, He has more than two decades of experience in the
marketing. He has expert knowledge in the products manufactured by Auto
Pins (India) Ltd, and Sirocco Pressings Pvt. Ltd. and its utilization
in market. Currently he is holding distributorship of the company in
Delhi and surrounding area of Sirocco Pressings Pvt, Ltd.
RAJBIR SINGH: Mr. Rajbir Singh has joined the company as an Executive
Director on 10th August, 1988, and started looking after the day to day
functioning of the Company under the superintendence, direction, and
control of the Board of Directors. Mr. Singh gained experience as head
of the enterprises more particularly in the areas of production,
marketing, purchases, export, automation and MIS, After being Executive
Director for nearly 6 years he was elevated to the position of Managing
Director of the Company on 8th June 1994. Mr. Rajbir Singh took over
the management and control of the day to day affairs of the company in
1988 at the age of 25 Years.
In accordance with the requirements of the Companies Act, 2013 and the
Company''s Articles of Association, he is liable to retire by rotation
in this AGM and being eligible, offered himself for reappointment.
Directors solicit their approval for his reappointment as a director of
the Company.
NAND KISH ORE SHARMA: Mr. Nand Kishore Shanna, Non-Executive &
Independent Director is 34 years of age and a Law graduate. He is in
service since last 10 years and now has been practicing as an advocate.
KULBIR SINGH: Mr. Kulbir Singh, Non- Executive & Independent Director
graduated from MD University, Rohtak, Haryana in 1988 and experience in
accounting over 26 years. He was appointed as with effect from June,
2006. He holds expertise in marketing, purchasing, administration and
financial management. He has been closely involved with the company
growth of Sirocco Pressings Pvt, Ltd. Presently he is a member of Board
of Director of Auto Pins (India) Ltd.
OTHERS; During the year under review, due to some preoccupations, Ms.
Dolly Munjal, Company Secretary resigned from the company on
01.06.2014.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to the requirement under Sec.217 (2AA) of the Company''s Act,
1956 with respect to Directors'' Responsibility Statement, it is hereby
confirmed:
(i) In the preparation of the accounts, the applicable accounting
standards have been followed;
(ii) That the Directors have selected such accounting policies and
applied them consistently and made Judgments and estimates that are
reasonable arid 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 ended 30th
June 2014, and of the profit of the Company for that year;
(iii) That the Directors have 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 (iv) That the Directors have prepared the Annual
Accounts on a "going concern" basis.
PUBLIC DEPOSITS
During the year under review your company has not invited any deposits
from the Public U/s 58 A Act of the Companies Act, 1956 read with
Companies (Acceptance of deposits) Rules, 1975.
LISTING OF SECURITIES
The company''s shares are listed at The Bombay Stock Exchange, Mumbai.
The company had applied for in-principle approval for revocation of
suspension of trading in shares of the company 13th Jan, 2014 and got
in-principie approval letter vide DCS/COMP/OT/SB/44/2014-15 Dated 19th
June, 2014 from the Stock Exchange. We have filed related documents to
the stock exchange.
LOCK IN PERIOD OF SHARES:
During the year under review 51,26,600 equity shares were in lock-in
period up to 22nd June, 2014 as per the requirements of the BIFR.
As per the requirement of Stock Exchange, the entire promoter holding
i.e., 39,96,338 shares as on 13th January, 2014 and any increase in
shareholding thereafter up to the date of revocation should be under
lock-in for a period of three months from the date of commencement of
trading or post revocation suspension.
Therefore the company has applied for NSDL/ CDSL/RTA Certificate for
lock-in of above said shares up to the date of 31.05.2015.
AUDIT COMMITTEE
The present Audit committee of the company comprised of 3 directors
i.e. Mr. Kulbir Singh, Mr. Subhash Jain and Mr. Nand Kishore Sharma.
The members of the audit Committee have the required financial
background. Mr. Kulbir Singh is chairman of the committee,
AUDITORS
The auditors of the company M/s Sanjay Rawal & Co.; Chartered
Accountants retire at this meeting and are eligible for re-appointment,
which if made will be in accordance with section 139(5) of the
Companies Act, 2013 and rules made thereunder.
AUDITORS'' REPORT & NOTES ON ACCOUNTS
The observation made by the Auditors is self-explanatory and have also
been further simplified in the Notes to Accounts.
INTERNAL AUDITOR
The internal auditor of the company is M/s Amit Batla & Associates
carried out the roles and responsibilities during the current financial
year which are as follows:
* evaluated and provided reasonable assurance that risk management,
control and governance systems are functioning as intended and will
enable the organisation''s objectives and goals to be met.
* reported risk management issues and internal controls deficiencies
identified directly to the audit committee and provided recommendations
for improving the organisation''s operations, in terms of both efficient
and effective performance.
* evaluated information security and associated risk exposures.
* evaluated regulatory compliance program with consultation from legal
counsel.
SECRETARIAL AUDITOR
M/s Parveen Rastogi & Co., Practicing Company Secretary, was appointed
as Secretarial Auditor of the Company for the financial year 2014-2015.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
Information under section 217(e) of the Companies Act, 1956 read with
the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 is given below
a) Energy Conservation Measures taken; Not Applicable as Company is in
the business of providing teal estate services which are more dependent
on Human skill than power consumption.
b) Additional investments and proposals, if any, being implemented for
reduction of consumption of energy: Nil
c) Impact of the measures at (a) and (b) above for reduction of energy
consumption and consequent impact on the cost of production of goods:
Not Applicable
FOREIGN EXCHANGE EARNINGS AND OUTGO
The details of the earnings and outgo in Foreign Exchange during the
year under review are provided in the notes to the financial statements
as at 30 June, 2014. The members are requested to refer to the said for
details in this regard.
ACKNOWLEDGEMENT
Your Directors commend the continuing commitment and dedication of
employees at all levels. The Directors would also like to thank all
other stakeholder, including bankers and other business associates, who
have provided sustained support and encouragement This has
understandably; been critical for all the Company''s success. The
Directors look forward to their continued support in the years to come.
By Order of the Board
For Auto Pins (India) Limited,
Place: Delhi
Dated: 02-12-2014
Sd/-
Rajbir Singh
(Managing Director)
DIN: 00176574
Jun 30, 2012
To, The Members
The Directors have great pleasure in presenting the Annual Report
together with the Audited Statement of Annual Accounts for the Year
ended 30th June 2012.
FINANCIAL RESULTS
(Rs. in lacs)
Current Year Previous Year
Sales & Other Income 2240.31 1460.73
Profit before Depreciation 540.27 142.45
Depreciation 104.86 128.53
Profit After Depreciation Before Tax 435.41 13.92
Profit After Tax 435.41 13.92
PERFORMANCE
The over all performance for the 12 months was satisfactory as the
Turnover of the company increased from Rs. 1350.86 Lac to Rs. 1743.49
Lac as compared to the previous year''s turnover and Other Income
increased from Rs. 109.86 Lac to Rs. 496.81 Lac. The company has earned
profit of Rs. 43541024 during the year. However, your Directors are
confident that the company will do better in future as the recessionary
period of the Indian economy seems to be over and the company is trying
its level best to improve its performance.
DIRECTORS
Mr. Kulbir Singh, Director of the Company retires by rotation and being
eligible offers himself for re-appointment.
EXPORTS
The company has not earned export income during the financial year.
DIVIDEND
As the company has not earned sufficient profit during the year, So the
Directors are not in the position to recommend any dividend for the
year 2011 -12.
AUDITORS
M/S Sanjay Rawal & Co., Chartered Accountants, the Auditors of the
Company will retire at the conclusion of the ensuing Annual General
Meeting. They are eligible for reappointment.
CORPORATE GOVERNANCE REPORT
In consonance with core values of the Company to enhance the wealth of
shareholders with commitment to the customers, employees and society,
your directors attach much significance to good corporate governance.
Pursuant to clause 49 of the said listing agreement, (a) Management
discussion and analysis, (b) The report of the Directors on the
practice prevalent on corporate governance in the Company and (c)
Certificate from the Practicing Company Secretary on compliance of
mandatory requirement of corporate governance are given as an annexure
to this report.
LISTING
The Company''s Shares are listed on the Bombay Stock Exchange. The
address of the Stock Exchange is:
BOMBAY STOCK EXCHANGE LIMITED P.J. TOWER, DALAL STREET MUMBAI-400001.
PARTICULARS OF EMPLOYEE
The company does not have any employees to whom the Provisions of
Section 217 (2A) of the Companies Act 1956 read with the companies
(Particulars of Employee Rules 1975) apply.
CONSERVATIONÂOF ENERGY, RESEARCH AND DEVELOPMENT TECHNOLOGY,
ABSORPTION AND FORIAGN EXCHANGE EARNING AND OUTGO.
Particulars relating to Conservation of energy Research and
Development, Technology Absorption do not become applicable to the
company, and details of Foreign Exchange earnings and outgo are as
follows:
Foreign Exchange Earnings: Nil
(In Indian Rupees)
Foreign Exchange Outgo : Nil
(In Indian Rupees)
DIRECTOR S RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217 (2AA) of the Companies
Act, 1956 with respect to Director s Responsibility Statement, it is
hereby confirmed;
(i) The financial statement has been prepared in accordance with the
accounting standard issued by the Institute of Chartered Accountants of
India and also the requirements of the Companies act, 1956, to the
extent applicable to the Company. There have been no material
departures from prescribed accounting standard while preparing these
financial statements;
(ii) The Board of Directors has selected the accounting policies
described in the notes to the accounts, which have been consistently
applied, except where otherwise stated. The estimates and judgments
relating to the financial statements have been made on a prudent basis,
in order that the financial statements reflect in a true and air
manner, the state of affairs of the Company as at June 30, 2012 and the
profit of the Company for the year ended on that date;
(iii) The board of directors and management has taken proper and
sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 1956 for the
safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities;
(iv) The annual account has been prepared on the historical cost
conventions as a going concern and on the accrual basis.
DEPOSITS
During the year under review the company has not accepted any deposits.
APPRECIATION
Your Directors wish to place on record their deep appreciation for the
continued co- operation and support given by financial institution,
Bank, Customers and shareholders of the company. They also acknowledge
their deep appreciation for the contribution made by the employees at
all levels to the operations of the company.
For and on behalf of the Board,
Auto Pins (India) Limited
Dated: 03.12.2012
Place: New Delhi. (RAJBIR SINGH)
(MANAGING DIRECTOR)
Jun 30, 2011
The Directors have great pleasure in presenting the Annual Report
together with the Audited Statement of Annual Accounts for the Year
ended 30th June 2011.
FINANCIAL RESULTS
(Rs. in lacs)
Current Year Previous Year
Sales & Other Income 1460.73 1048.46
Profit before Depreciation 142.45 413.78
Depreciation 128.53 101.11
Profit After Depreciation
Before Tax 13.92 312.67
Profit After Tax 13.92 1461.56
PERFORMANCE
The over all performance for the 15 months was satisfactory as the
Turnover of the company increased from Rs. 435.08 Lac to Rs. 1350.86
Lac as compared to the previous year's turnover and Other Income
increased from Rs. 8940 to Rs. 10986921. The company has earned a loss
during the year. However, your Directors are confident that the company
will do better in future as the recessionary period of the Indian
economy seems to be oxer and the company is trying its level best to
improve its performance.
DIRECTORS
Mr. Kulbir Singh. Director of the Company retires by rotation and being
eligible offers himself for re-appointment.
EXPORTS
The company has earned export income during the financial year.
DIVIDEND
As the company has not earned sufficient profit during the year. So the
Directors are not in the position to recommend any dividend for the
year 2010-11.
AUDITORS
M/S Sanjay Rawal & Co.. Chartered Accountants, the Auditors of the
Company will retire at the conclusion of the ensuing Annual General
Meeting. They are eligible for reappointment.
CORPORATE GOVERNANCE REPORT
In consonance with core values of the Company to enhance the wealth of
shareholders with commitment to the customers, employees and society,
your directors attach much significance to good corporate governance.
Pursuant to clause 49 of the said listing agreement, (a) Management
discussion and analysis, (b) The report of the Directors on the
practice prevalent on corporate governance in the Company and (c)
Certificate from the Practicing Company Secretary on compliance of
mandatory requirement of corporate governance are given as an annexure
to this report.
LISTING
The Company's Shares are listed on the Delhi Stock Exchange. The
address of the Stock Exchange is:
THE BOMBAY STOCK EXCHANGE LIMITED
The Delhi Stock Exchange Association
3A&4. Asaf Ali Road.
New Delhi - 110 002
PARTICULARS OF EMPLOYEE
The company does not have any employees to whom the Provisions of
Section 217 (2A) o( the Companies Act 1956 read with the companies
(Particulars of Employee Rules 1975 apply.
DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217 (2AA) of the Companies
Act, 1956, with respect to Director's Responsibility Statement, it is
hereby confirmed;
(i) The financial statement has been prepared in accordance with the
accounting standard issued by the Institute of Chartered Accountants of
India and also the requirements of the Companies act, 1956, to the
extent applicable to the Company. There have been no material
departures from prescribed accounting standard while preparing these
financial statements;
(ii) The Board of Directors has selected the accounting policies
described in the notes to the accounts, which have been consistently
applied, except where otherwise stated. The estimates and judgments
relating to the financial statements have been made on a prudent basis,
in order that the financial statements reflect in a true and fair
manner, the state of affairs of the Company as at June 30, 2011 and the
profit of the Company for the year ended on that date;
(iii) The board of directors and management has taken proper and
sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 1956 for the
safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities;
(iv) The annual account has been prepared on the historical cost
conventions; as a going concern and on the accrual basis.
DEPOSITS
During the year under review the company has not accepted any deposits
APPRECIATION
Your Directors wish to place on record their deep appreciation for the
continued co-operation and support given by financial institution,
Bank, Customers and shareholders of the company. They also acknowledge
their deep appreciation for the contribution made by the employees at
all levels to the operations of the company.
For and on behalf of the Board,
Auto Pins (India) Limited
Dated: 15.11.2011
Place: New Delhi. (RAJBIR SINGH)
(MANAGING DIRECTOR)
Mar 31, 2010
The Directors have great pleasure in presenting the Annual Report
together with the Audited Statement of Annual Accounts for the Year
ended 31st March 2010.
FINANCIAL RESULTS
(Rs. in lacs)
Current Year Previous Year
Sales & Other Income 1048.46 363.84
Profit before Depreciation 423.78 -106.09
Depreciation 101.11 101.40
Profit Before Tax 312.67 (14.68)
Income Tax 00.00 13
Profit After Tax 1461.16 (14.81)
PERFORMANCE
The over all performance for the 12 months was satisfactory as the
Turnover of the company increased from Rs.36.38. Lac to Rs. 104.84 Lacs
as compared to the previous years turnover. The company has earned a
loss during the year. However, your Directors are confident that the
company will do better in future as the recessionary period of the
Indian economy seems to be over and the company is trying its level
best to improve its performance.
DIRECTORS
Mr. Subhash Jain. Director of the Company retires by rotation and being
eligible offers himself for re-appointment.
EXPORTS
The company has not earned export income during the financial year.
DIVIDEND
As the company has not earned sufficient profit during the year, the
company has set-off the previous loss against this; your Directors are
not in the position to recommend any dividend for the year 2009-10.
AUDITORS
M/S Sanjay Rawal & Co.. Chartered Accountants, the Auditors of the
Company will retire at the conclusion of the ensuing Annual General
Meeting. They are eligible for reappointment.
CORPORATE GOVERNANCE
In consonance with core values of the Company to enhance the wealth of
shareholders with commitment to the customers, employees and society,
your directors attach much significance to good corporate governance.
Pursuant to clause 49 of the said listing agreement, (a) Management
discussion and analysis. (b) The report of the Directors on the
practice prevalent on corporate governance in the Company and (c)
Certificate from the Practicing Company Secretary on compliance of
mandatory requirement of corporate governance are given as an annexure
to this report.
LISTING
The Companys Shares are listed on the Delhi Stock Exchange. The
address of the Stock Exchange is:
BOMBAY STOCK EXCHANGE LIMITED
The Delhi Stock Exchange Association
3A & 4. Asaf Ali Road.
New Delhi- 110 002
PARTICULARS OF EMPLOYEE
The company does not have any employees to whom the Provisions of
Section 217 (2A) of the Companies Act 1956 read with the companies
(Particulars of Employee Rules 1975) apply.
CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY,
ABSORPTION AND FORIAGN EXCHANGE EARNING AND OUTGO.
Particulars relating to Conservation of energy Research and
Development, Technology. Absorption do not become applicable to the
company, and details of Foreign Exchange earnings and outgo are as
follows:
foreign Exchange Earnings : Rs. Nil
(In Indian Rupees)
foreign Exchange Outgo : Rs. NIL
(In Indian Rupees)
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;
(i) The financial statement has been prepared in accordance with the
accounting standard issued by the Institute of Chartered Accountants of
India and also the requirements of the Companies act, 1956, to the
extent applicable to the Company. There have been no material
departures from prescribed accounting standard while preparing these
financial statements;
(ii) The Board of Directors has selected the accounting policies
described in the notes to the accounts, which have been consistently
applied, except where otherwise stated. The estimates and judgments
relating to the financial statements have been made on a prudent basis,
in order that the financial statements reflect in a true and fair
manner, the state of affairs of the Company as at June 30, 2007 and the
profit of the Company for the tear ended on that date;
(iii) The board of directors and management has taken proper and
sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act. 1956 for the
safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities;
iv. The annual account has been prepared on the historical cost
conventions, as a going concern and on the accrual basis.
DEPOSITS
During the year under review the company has not accepted any deposits.
APPRECIATION
Your Directors wish to place on record their deep appreciation for the
continued co- operation and support given by financial institution.
Bank. Customers and shareholders of the company. They also acknowledge
their deep appreciation for the contribution made by the employees at
all levels to the operations of the company.
For and on behalf of the Board.
Auto Pins (India) Limited
Dated : 31st August, 2010
Place : New Delhi. RAJBIR SINGH
MANAGING DIRECTOR