Home  »  Company  »  Gayatri TissuePa  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Gayatri Tissue & Papers Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the Twenty Eighth Annual Report together with Audited Statements of Accounts for the year ended 31st March, 2014.

Financial Results:

Your Directors are happy to report the operational results of the Company for the year ended 31st March 2014, the details of which are as under:

Rs. In Lakhs

Particulars 2013-2014 2012-2013

Total Income 526.12 605.53

Profit before depreciation and interest 46.29 54.92

Interest - -

Depreciation - -

Profit before tax 46.29 54.92

Provision for tax 14.59 17.18

Profit after tax 31.70 37.74

Review of Operations:

The last few years were not the best for the infrastructure development in India and slow down of the economy has impacted all sectors. Additionally, companies continue to face challenges on the execution front such as delays in securing approvals in key infrastructure sectors such as power, roads and ports. In such a difficult business environment, most of the companies are facing severe financial strain and slow growth. The global economy is showing any signs of revival and the steps taken by new government to boost the economy will take time to show results. Hence in medium term the general outlook of industry is negative. In these difficult times, the Company has reasonably performed well by achieving the turnover of Rs. 526.12 Laks in FY 2014 as against Rs. 605.53 Laks in the previous year. The net profits after taxes are at Rs. 31.70 laks in FY 2014 as against Rs. 37.74 Laks in the previous financial year.

Dividend:

The Company proposes to retain profits of the current year for company''s future plans and developments. Hence, your directors have not recommended dividend for the Financial Year 2013-2014.

Listing of Securities:

The company''s shares are listed with the Bombay Stock Exchange and the Company has complied with all rules, regulations and guidelines of the Stock Exchange.

Directors Responsibility Statement:

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 your Directors state:

i) That in preparation of the Annual Accounts, the applicable Accounting Standards have been followed.

ii) That your 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 your directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of this Act for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) That your Directors have prepared annual accounts on a going concern basis.

Public Deposits:

The company has not accepted any deposit from the public falling under the provision of Section 58A and 58AA of the Companies Act, 1956 during the year under review.

Auditors:

The Auditors M/s. VAS & Co., Chartered Accountants, Secunderabad retire at the ensuing Annual General Meeting and, being eligible, offer themselves for reappointment as per the provisions of the Companies Act, 2013.

Particulars of Employees:

The details required under section 217(2A) of the Companies Act, 1956 read the Companies (Particulars of Employees) Rules, 1975 are not furnished as there are no employees who are covered under the above section.

Conservation of Energy and Foreign Exchange Earnings:

Details regarding Energy Conservation, Technology Absorption, Foreign Exchange Earnings and outgo as required by Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of the Particulars in the Report of Board of Directors) Rules, 1988 are not given as the same is not applicable to the Company.

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement, a report on Corporate Governance and a certificate from the auditors of the company is given, which forms part of this report.

Compliance Certificate:

The Company has obtained Compliance certificate pursuant to section 383A of the Companies Act, 1956 and is attached to this report.

Industrial Relations:

Employees are our vital and most valuable assets. We have created a favorable work environment that encourages innovation and creativity. The Industrial Relations continued to be peaceful during the year.

Acknowledgments:

Your Directors wish to express their grateful appreciation for the cooperation and support received from the Government, Banks, vendors, customers, consultants, auditors, staff and others who have been assisting your Company in the various facets of its operations.

For and on behalf of the Board

Sd/- Sd/- Place : Hyderabad (T. INDIRA SUBBARAMI REDDY) (P. MARUTHI BABU) Date : 29.05.2014 Director Director


Mar 31, 2013

Dear Members,

The Directors have pleasure in presenting the Twenty Seventh Annual Report together with Audited Statements of Accounts for the year ended 31st March, 2013.

Financial Results:

Your Directors are happy to report the operational results of the Company for the year ended 31st March 2013, the details of which are as under:

Rs. In Lakhs

Particulars 2012-2013 2011-2012

Total Income 605.53 542.11

Profit before depreciation and interest 54.92 43.51

Interest

Depreciation

Profit before tax 54.92 43.51

Provision for tax 17.18 17.86

Profit after tax 37.74 25.65

Review of Operations:

The Indian economy is going through challenging times with GDP growth slowing down to below 5% in F.Y 2012-13. In this difficult times, the Company has performed well and the turnover of the company has increased by 11.70% over the previous financial year and earnings before interest, depreciation and taxation increased by 26.22% over the previous financial year. The profits are increased due to cost control measures implemented by the company.

Dividend:

The Company proposes to retain profits of the current year for company''s future plans and developments. Hence, your directors have not recommended dividend for the Financial Year 2012-2013.

Listing of Securities:

The company''s shares are listed with the Bombay Stock Exchange and the Company has complied with all rules, regulations and guidelines of the Stock Exchange.

Directors Responsibility Statement:

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 your Directors state:

i) That in preparation of the Annual Accounts, the applicable Accounting Standards have been followed.

ii) That your 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 your directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of this Act for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) That your Directors have prepared annual accounts on a going concern basis.

Public Deposits:

The company has not accepted any deposit from the public falling under the provision of Section 58A and 58 AA of the Companies Act, 1956 during the year under review.

Auditors:

The Auditors M/s. VAS & Co., Chartered Accountants, Secunderabad will retire at the conclusion of the ensuing Annual General Meeting. They have signified their willingness to accept re-appointment and have further confirmed their eligibility under Section 224 (1-B) of the Companies Act, 1956

Particulars of Employees:

The details required under section 217(2A) of the Companies Act, 1956 read the Companies (Particulars of Employees ) Rules, 1975 are not furnished as there are no employees who are covered under the above section.

Conservation of Energy and Foreign Exchange Earnings:

Details regarding Energy Conservation, Technology Absorption, Foreign Exchange Earnings and outgo as required by Section 217(1)(e) of the Companies Act, 1956 read with the Companies ( Disclosure of the Particulars in the Report of Board of Directors ) Rules, 1988 are not given as the same is not applicable to the Company.

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement, a report on Corporate Governance and a certificate from the auditors of the company is given, which forms part of this report.

Compliance Certificate:

The Company has obtained Compliance certificate pursuant to section 383A of the Companies Act, 1956 and is attached to this report.

Industrial Relations:

Employees are our vital and most valuable assets. We have created a favorable work environment that encourages innovation and creativity. The Industrial Relations continued to be peaceful during the year.

Acknowledgments:

Your Directors wish to express their grateful appreciation for the cooperation and support received from the Government, Banks, vendors, customers, consultants, auditors, staff and others who have been assisting your Company in the various facets of its operations.

For and on behalf of the Board

Sd/- Sd/-

( Indira Subbarami Reddy) (P. Maruthi Babu)

Director Director

Place : Hyderabad

Date : 29.05.2013


Mar 31, 2012

The Directors have pleasure in presenting the Twenty Sixth Annual Report together with Audited Statements of Accounts for the year ended 31st March, 2012.

Financial Results:

Your Directors are happy to report the operational results of the Company for the year ended 31st March 2012, the details of which are as under: Rs. In Lakhs

Particulars 2011-2012 2010-2011

Total Income 542.11 470.13

Profit before depreciation and interest 43.51 24.78

Interest - -

Depreciation - -

Profit before tax 43.51 24.78

Provision for tax 17.86 7.69

Profit after tax 25.65 17.09

Review of Operations:

During the year under review turnover of the company has increased by 15.31% over the previous financial year and earnings before interest, depreciation and taxation increased by 34.37% over the previous financial year. The profits are increased due to cost control measures implemented by the company.

Dividend:

The Company proposes to retain profits of the current year for company's future plans and developments. Hence, your directors have not recommended dividend for the Financial Year 2011-2012.

Listing of Securities:

The company's shares are listed with the Bombay Stock Exchange and the annual listing fee for the year 2012-2013 has been paid.

Directors Responsibility Statement:

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 your Directors state:

i) That in preparation of the Annual Accounts, the applicable Accounting Standards have been followed.

ii) That your 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 your directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of this Act for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) That your Directors have prepared annual accounts on a going concern basis.

Public Deposits:

The company has not accepted any deposit from the public falling under the provision of Section 58A and 58 AA of the Companies Act, 1956 during the year under review.

Auditors:

The Auditors M/s. VAS & Co., Chartered Accountants, Secunderabad will retire at the conclusion of the ensuing Annual General Meeting. They have signified their willingness to accept re-appointment and have further confirmed their eligibility under Section 224 (1-B) of the Companies Act, 1956

Particulars of Employees:

The details required under section 217(2A) of the Companies Act, 1956 read the Companies (Particulars of Employees ) Rules, 1975 are not furnished as there are no employees who are covered under the above section.

Conservation of Energy and Foreign Exchange Earnings:

Details regarding Energy Conservation, Technology Absorption, Foreign Exchange Earnings and outgo as required by Section 217(1)(e) of the Companies Act, 1956 read with the Companies ( Disclosure of the Particulars in the Report of Board of Directors ) Rules, 1988 are not given as the same is not applicable to the Company.

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement, a report on Corporate Governance and a certificate from the auditors of the company is given, which forms part of this report.

Compliance Certificate:

The Company has obtained Compliance certificate pursuant section 383A of the Companies Act, 1956 and is attached to this report.

Industrial Relations:

Employees are our vital and most valuable assets. We have created a favorable work environment that encourages innovation and creativity. The Industrial Relations continued to be peaceful during the year.

Acknowledgments:

Your Directors wish to express their grateful appreciation for the cooperation and support received from the Government, Banks, vendors, customers, consultants, auditors, staff and others who have been assisting your Company in the various facets of its operations.

For and on behalf of the Board

Sd/- Sd/-

(T. INDIRA SUBBARAMI REDDY) (P. MARUTHI BABU)

Director Director

Place : Hyderabad

Date : 30.05.2012


Mar 31, 2010

The Directors have pleasure in presenting the Twenty Fourth Annual Report together with Audited State- ments of Accounts for the year ended 31st March, 2010.

Financial Results:

Your Directors are happy to report the operational results of the Company for the year ended 31st March 2010, the details of which are as under:

Rs. In Lakhs

Particulars 2009-2010 2008-2009

Total Income 409.10 330.20

Profit before depreciation and interest 17.43 3.68

Interest - -

Depreciation - -

Profit before tax 17.43 3.64

Provision for tax 5.38 1.46

Profit after tax 12.05 2.18



Review of Operations:



During the year under review turnover of the company has increased by 24% over the previous financial year and earnings before interest, deprecation and taxation increased by 450% over the previous financial year. The primary reason for the increase in the profits of the company is due to the profitable works undertaken and cost controlling measures implemented by the company.

Dividend:

The Company proposes to retain profits of the current year for companys future plans and developments. Hence, your directors have not recommended dividend for the Financial Year 2009-2010.

Listing of Securities:

The companys shares are listed with the Bombay Stock Exchange and the annual listing fee for the year 2010-2011 has been paid. The Companys Script has been revoked from Suspension and commenced trading of the script from 26th April, 2010 onwards.

Directors Responsibility Statement:

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 your Directors state:

i) That in preparation of the Annual Accounts, the applicable Accounting Standards have been followed.

ii) That your 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 your directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of this Act for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) That your Directors have prepared annual accounts on a going concern basis.

Public Deposits:

The company has not accepted any deposit from the public falling under the provision of Section 58A and 58 AA of the Companies Act, 1956 during the year under review.

Auditors:

The Auditors M/s. VAS & Co., Chartered Accountants, Secunderabad will retire at the conclusion of the ensuing Annual General Meeting. They have signified their willingness to accept re-appointment and have further confirmed their eligibility under Section 224 (1-B) of the Companies Act, 1956

Particulars of Employees:

The details required under section 217(2A) of the Companies Act, 1956 read the Companies (Particulars of Employees ) Rules, 1975 are not furnished as there are no employees who are covered under the above section.

Conservation of Energy and Foreign Exchange Earnings:

Details regarding Energy Conservation, Technology Absorption, Foreign Exchange Earnings and outgo as required by Section 217(1)(e) of the Companies Act, 1956 read with the Companies ( Disclosure of the Particulars in the Report of Board of Directors ) Rules, 1988 are not given as the same is not applicable to the Company.

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement, a report on Corporate Governance and a certificate from the auditors of the company is given, which forms part of this report.

Compliance Certificate:

The Company has obtained Compliance certificate pursuant section 383A of the Companies Act, 1956 and is attached to this report.

Industrial Relations:

Employees are our vital and most valuable assets. We have created a favorable work environment that encourages innovation and creativity. The Industrial Relations continued to be peaceful during the year.

Acknowledgments:

Your Directors wish to express their grateful appreciation for the cooperation and support received from the Government, Banks, vendors, customers, consultants, auditors, staff and others who have been assisting your Company in the various facets of its operations.

For and on behalf of the Board

Mrs. T INDIRA P. MARUTHI BABU

Director Director

Place : Hyderabad

Date : May 29, 2010


Mar 31, 2009

The Directors have pleasure in presenting the Twenty Third Annual Report together with Audited Statements of Accounts for the year ended 31st March, 2009.

PERFORMANCE OF THE COMPANY

Your Directors are happy to report the operational results of the Company for the year ended 31st March 2009, the details of which are as under:

Rs. In Lakhs Particulars 2008-2009 2007-2008 Total Income 330.20 2936.40 Profit before depreciation and interest 3.68 24.31 Interest 0.00 0.00 Depreciation 0.04 0.04 Profit before tax 3.64 24.27 Provision for tax 1.46 8.27 Profit after tax 2.18 16.00

OPERATIONS

During the year under review the company has taken up store building construction work amounting to Rs 100 laks at Jindal Vijayanagaram Steel Plant work at Tornagallu, Karnataka State and Road works at Jhansi, Uttar Pradesh. The Directors are exploring the possibility of getting some more construction and engineering works in the near future.

DIVIDENDS

The Company proposes to retain profits of the current year for companys future plans and developments. Hence, your directors have not recommended dividend for the Financial Year 2007-2008.

LISTING OF SECURITIES

The companys shares are listed with The Bombay Stock Exchange and the annual listing fee for the year 2009-2010 has been paid.

DIRECTORS RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 your Directors state:

i) That in preparation of the Annual Accounts, the applicable Accounting Standards have been followed.

ii) That your 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 your directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of this Act for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) That your Directors have prepared annual accounts on a going concern basis.

PUBLIC DEPOSITS:

The company has not accepted any deposit from the public falling under the provision of Section 58A and 58 AA of the Companies Act, 1956 during the year under review.

AUDITORS

The Auditors M/s. VAS &. Co., Chartered Accountants, Secunderabad will retire at the conclusion of the ensuing Annual General Meeting. They have signified their willingness to accept re-appointment and have further confirmed their eligibility under Section 224 (1-B) of the Companies Act, 1956

PARTICULARS OF EMPLOYEES

The details required under section 217(2A) of the Companies Act, 1956 read the Companies (Particulars of Employees ) Rules, 1975 are not furnished as there are no employees who are covered under the above section.

CONSERVATION OF ENERGY AND FOREIGN EXCHANGE EARNINGS:

Details regarding Energy Conservation, Technology Absorption, Foreign Exchange Earnings and outgo as required by Section 217(l)(e) of the Companies Act, 1956 read with the Companies ( Disclosure of the Particulars in the Report of Board of Directors ) Rules, 1988 are not given as the same is not applicable to the Company.

CORPORATE GOVERNANCE

Pursuant to clause 49 of the Listing Agreement, a report on Corporate Governance and a certificate from the auditors of the company is given in the Annexure - A and Annexure-B respectively, which forms part of this report.

COMPLIANCE CERTIFICATE:

The Company has obtained Compliance certificate pursuant section 383A of the Companies Act, 1956 and is attached to this report.

INDUSTRIAL RELATIONS

The Industrial Relations continued to be peaceful during the year.

ACKNOWLEDGEMENTS

Your Directors place on record their appreciation for the valuable co-operation and help extended by Banks, Auditors, Employees and Government in achieving the objectives of the Company.

For and on behalf of the Board Sd/ P. MARUTHI BABU Director Place : Hyderabad Date : June 29, 2009

 
Subscribe now to get personal finance updates in your inbox!