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Directors Report of Cybele Industries Ltd.

Mar 31, 2014

Dear Members,

The Directors hereby present the Twenty First Annual Report together with the Audited Accounts for the year ended 31st March, 2014

FINANCIAL RESULTS 2013-2014 2012-2013 (Rs.in Lakhs)

Profit before Interest and Depreciation 244.07 470.49

Less : Interest 19.14 20.12

Profit before Depreciation 224.93 450.37

Less : Depreciation 61.59 58.97 163.34 391.40

Less : Preliminary exp. written off 10.00 10.00

Net Profit carried to B/S 153.34 381.40

DIVIDEND

The Board of Directors could not recommend any dividend due to future expansion activities of the Company.

OPERATIONS

During the year under review, the Company has taken steps to improve the operations of the Company. The Company achieved a revenue of Rs.12.63 Crores and net profit of Rs.1.53 crores. The Directors are taking all the steps to improve the performance of the Company in the years to come.

PERSONNEL

No employee was in receipt of remuneration in excess of the limits specified under Section 217(2A) of the Companies Act,1956.

ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE

Information pursuant to Section 217(1) (e) of the Companies Act,1956 read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is furnished in the Annexure..

DIRECTORS

Mr. Thomas P Joy retires at the ensuing Annual General Meeting and offers himself being reappointed as Director.

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 that :

(i) in preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(ii) the directors had 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 or loss of the company for the year under review;

(iii) 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;

(iv) the directors had prepared the accounts for the financial year ended 31st March, 2014 on a ''going concern'' basis.

Corporate Social Responsibility Committee

Your Directors have constituted the Corporate Social Responsibility Committee (CSR Committee) comprising Mr. N. Karuppiah as the Chairman & Mr. Sunny Kutty George and Mr. P.A. Joykutty as members. The said committee as been entrusted with the responsibility of formulating and recommending to the Board, a Corporate Social Responsibility Policy (CSR Policy) indicating the activities to be undertaken by the Company, monitoring the implementation of the frame work of the CSR Policy and recommending the amount to be spent on CSR activity.

AUDITORS

M/s. Karpagam & Co., the Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreements with the Stock Exchanges, a Report on Corporate Governance with Auditor''s Certificate on compliance of conditions of Corporate Governance with Auditor''s Certificate on compliance of conditions of Corporate Governance and a Management Discussion & Analysis Report have been attached to form part of the Annual Report.

ACKNOWLEDGEMENT

The Directors wish to place on record their appreciation of the dedication and excellent contribution made by all the concerned. The Directors would like to thank the Suppliers and above all the Shareholders and valued Customers for their continued support and patronage.

(By order of the Board) for CYBELE INDUSTRIES LIMITED

Place : Chennai P.A.JOYKUTTY Date : 30.05.2014 Chairman & Managing Director


Mar 31, 2010

The Directors hereby present the Seventeenth Annual Report together with the Audited Accounts for the year ended 31st March, 2010

FINANCIAL RESULTS

2009-2010 2008-2009

( Rs. in Lakhs)

Profit before Interest

and Depreciation 906.15 (18.19)

Less : Interest 0.00 0.00 Profit before Depreciation 906.15 (18.19)

Less : Depreciation 22.39 22.88

883.76 (41.07)

Less : Preliminary

exp. written off 3.50 3.50

Net Profit carried to B/S 880.26 (44.57)



DIVIDEND

In view of accumulated losses, the Board of Directors could not recommend any dividend.

OPERATIONS

During the year under review, the Company is taking steps to recommence the activities as per the rehabilitation scheme approved by BIFR. Directors are taking all the steps to improve the performance of the Company in the years to come.

The Company has allotted 5675500 equity shares of Rs.10/- each to the Partners of Asia Cables on 30th April, 2010 by taking over the assets and liabilities of Asia Cables as per the BIFR order.

PERSONNEL

No employee was in receipt of remuneration in excess of the limits specified under Section 217(2A) of the Companies Act, 1956.

ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE

Information pursuant to Section 217(1) (e) of the Companies Act,1956 read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is furnished in the Annexure.

DIRECTORS

Mr. George P Joy has resigned from the Board of Directors of your Company with effect from 20th June, 2010. The Board wishes to place on record the services rendered by him during his tenure.

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 that :

(i) in preparation of the annual accounts for the financial year ended 31st March, 2010, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(ii) the directors had 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 or loss of the company for the year under review;

(iii) 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;

(iv) the directors had prepared the accounts for the financial year ended 31st March, 2010 on a going concern basis.

AUDITORS

M/s. Karpagam & Co., the Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreements with the Stock Exchanges, a Report on Corporate Governance with Auditors Certificate on compliance of conditions of Corporate

Governance with Auditors Certificate on compliance of conditions of Corporate Governance and a Management Discussion & Analysis Report have been attached to form part of the Annual Report.

ACKNOWLEDGEMENT

The Directors wish to place on record their appreciation of the dedication and excellent contribution made by all the concerned. The

Directors would like to thank the Suppliers and above all the Shareholders and valued Customers for their continued support and patronage.

(By order of the Board)

for CYBELE INDUSTRIES LIMITED

Place : Chennai P.A.JOYKUTTY

Date : 31.07.2010 Chairman &

Managing Director

 
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