Mar 31, 2015
Dear Members,
The Directors are pleased to present the 21st Annual Report and the
audited statement of accounts of Company for the year ended March
31,2015.
1. Financial Highlights:
Particulars As on As on
31/03/2015 31/03/2014
(INR) (INR)
Income 34,181,601 329,73,017
Profit before depreciation and tax 11,863,105 10,096,421
Deprecation 2,607,867 24,57,878
Profit before tax 9,255,238 76,38,543
Current Income Tax & Wealth Tax 2,700,000 2,087,225
Deferred Tax 164,037 4,07,854
Profit after tax 6,391,201 41,43,464
Profit carried forward to the Balance 6,391,201 41,43,464
Sheet
Earning per share on Equity Shares of 2.03 1.32
Rs. 10 each
2. Review of Performance:
During financial year 2014-15, EPS has increased from Rs. 1.32/- per
share to Rs. 2.03/- per share and Profit before tax has increased by
21.16%
3. Dividend:
In order to utilize the profits for operations of the Company, your
Directors do not recommend any dividend.
4. Directors:
Mr. Sandeep Gupta retires by rotation at the ensuing annual general
meeting of the Company and being eligible, offer himself for
re-appointment.
Your Directors recommends the re-appointment of Mr. Sandeep Gupta as
director in the ensuing annual general meeting.
5. Depository System:
As the members are aware, your Company's shares are tradable
compulsorily in electronic form and your Company has established
connectivity with both the Depositories i.e. National Securities
Depository Limited and Central Depository Services India Limited. In
view of the numerous advantages offered by the Depository System,
members are requested to avail of the facility of dematerialization of
the Company's shares on either of the Depositories aforesaid.
6. Insurance:
The properties of the Company are adequately insured.
7. Fixed Deposits:
Your Company has not accepted any fixed deposits from the public under
section 58(A) of the Companies Act, 1956 and as such, no amount of
principle or interest is outstanding as of the balance sheet date.
8. Human Resource Management:
Harmonious employee relations continued to prevail in the Company. The
Company continued its focus on training and development of people
through internal and external management development programs.
9. Particulars of Employees:
No employee of the Company was drawing salary as per limits of the
provisions of Section 217 of the Companies Act, 1956 and rules framed
there under.
10. Responsibility Statement:
As required under Section 217(2AA) of the Companies Act, 1956, your
Directors confirm having:
a) followed in preparation of the annual accounts, the applicable
standards with proper explanation relating to material departures,
where applicable;
b) 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 your Company at
the end of the financial year and of the profit of your Company for
that period;
c) 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 your Company and for
preventing and detecting fraud and other irregularities; and
d) prepared the annual accounts on a going concern basis.
11. Conservation of energy, technology absorption, foreign exchange
earnings and outgo:
Since the Company is not engaged in manufacturing or processing
business, the Company has nothing to report in respect of information
on conservation of energy and technology absorption as required under
section 217(1) of the Companies Act, 1956 read with Companies
(Disclosures of Particulars in the Report of Board of Directors) Rules,
1988.
Foreign Exchange Earning and Outgo:
Current Year Previous Year
Earning NIL NIL
Expenditure NIL NIL
12. Corporate Governance:
The Company has complied with the Corporate Governance norms as
stipulated under clause 49 of the Listing Agreement. Detailed Report on
Corporate Governance forms an integral part of this Report. Certificate
of Statutory Auditors confirming compliance of the Corporate Governance
requirements by the Company is attached to the Report on Corporate
Governance.
13. Management Discussions and Analysis Report:
A detailed review of operations, performance and future outlook of the
Company is given separately under the head Management Discussion and
Analysis Report.
14. Auditors:
M/s Sunil Kulshreshta & Associates, Chartered Accountants, Statutory
Auditors of the Company, holds office until the conclusion of the
ensuing annual general meeting and are recommended for re-appointment.
A certificate from the auditors has been received to the effect that
their re-appointment, if made, would be in accordance with section 224
(1B) of the Companies Act, 1956.
Your Directors recommend the re-appointment of auditors at the ensuing
annual general meeting.
15. Compliance Certificate:
Pursuant to the provisions of Section 383A of the Companies Act, 1956,
a certificate from the Practicing Company Secretary has been obtained
and annexed hereto and the same forms an integral part of the report.
16. Acknowledgements:
Relationship with Stock Exchange and our bankers, Securities and
Exchange Board of India & other Regulatory authorities, State
Government and Central Government remained excellent during the year
under review. Your Directors are grateful for the support extended by
them and look forward for receiving their continued support and
encouragement.
Your Directors take this opportunity to thank all employees for their
dedicated service and contribution made towards the growth of the
Company and also for rendering impeccable service to every one of the
Company's customers.
And to you, our shareholders, we are deeply grateful for the confidence
and faith that you have always placed in us.
For and on behalf of the Board of Directors
(SATISH GOGIA)
Chairman & Managing Director
Place: New Delhi
Date: 22/05/2015
Mar 31, 2014
Dear Shareholders,
The Directors are pleased to present the 20th Annual Report and the
audited statement of accounts of Company for the year ended March 31,
2014.
1. Financial Highlights:
Particulars As on As on
31/03/2014 31/03/2013
(INR) (INR)
Income 329,73,017 40,339,289
Profit before depreciation and tax 10,096,421 19,243,655
Deprecation 24,57,878 2,250,142
Profit before tax 76,38,543 16,993,513
Current Income Tax 20,80,000 4,875,000
Deferred Tax 4,07,854 5,71,676
Provision for Wealth Tax 7,225 9,201
Profit after tax 41,43,464 1,15,37,636
Profit carried forward to the Balance Sheet NIl NIL
Earning per share on Equity Shares of Rs.10 each 1.32 3.67
2. Review of Performance:
During financial year 2013-14, EPS has decreased from Rs. 3.67/- per
share to Rs. 1.32/- per share and Profit before tax has decreased by
55.05%
3. Dividend:
In order to utilize the profits for operations of the Company, your
Directors do not recommend any dividend.
4. Directors:
Mr. Brijesh Saxena retires by rotation at the ensuing annual general
meeting of the Company and being eligible, offer himself for
re-appointment.
Your Directors recommends the re-appointment of Mr. Brijesh Saxena as
director in the ensuing annual general meeting.
5. Depository System:
As the members are aware, your Company''s shares are tradable
compulsorily in electronic form and your Company has established
connectivity with both the Depositories i.e. National Securities
Depository Limited and Central Depository Services India Limited. In
view of the numerous advantages offered by the Depository System,
members are requested to avail of the facility of dematerialization of
the Company''s shares on either of the Depositories aforesaid.
6. Insurance:
The properties of the Company are adequately insured.
7. Fixed Deposits:
Your Company has not accepted any fixed deposits from the public under
section 58(A) of the Companies Act, 1956 and as such, no amount of
principle or interest is outstanding as of the balance sheet date.
8. Human Resource Management:
Harmonious employee relations continued to prevail in the Company. The
Company continued its focus on training and development of people
through internal and external management development programs.
9. Particulars of Employees:
No employee of the Company was drawing salary as per limits of the
provisions of Section 217 of the Companies Act, 1956 and rules framed
there under.
10. Responsibility Statement:
As required under Section 217(2AA) of the Companies Act, 1956, your
Directors confirm having:
a) followed in preparation of the annual accounts, the applicable
standards with proper explanation relating to material departures,
where applicable;
b) 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 your Company at
the end of the financial year and of the profit of your Company for
that period;
c) 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 your Company and for
preventing and detecting fraud and other irregularities; and
c) prepared the annual accounts on a going concern basis.
11. Conservation of energy, technology absorption, foreign exchange
earnings and outgo:
Since the Company is not engaged in manufacturing or processing
business, the Company has nothing to report in respect of information
on conservation of energy and technology absorption as required under
section 217(1) of the Companies Act, 1956 read with Companies
(Disclosures of Particulars in the Report of Board of Directors) Rules,
1988.
Foreign Exchange Earning and Outgo:
Current Year Previous Year
Earning NIL NIL
Expenditure NIL NIL
12. Corporate Governance:
The Company has complied with the Corporate Governance norms as
stipulated under clause 49 of the Listing Agreement. Detailed Report on
Corporate Governance forms an integral part of this Report. Certificate
of Statutory Auditors confirming compliance of the Corporate Governance
requirements by the Company is attached to the Report on Corporate
Governance.
13. Management Discussions and Analysis Report:
A detailed review of operations, performance and future outlook of the
Company is given separately under the head Management Discussion and
Analysis Report.
14. Auditors:
M/s Sunil Kulshreshta & Associates, Chartered Accountants, Statutory
Auditors of the Company, holds office until the conclusion of the
ensuing annual general meeting and are recommended for re-appointment.
A certificate from the auditors has been received to the effect that
their re-appointment, if made, would be in accordance with section 224
(1B) of the Companies Act, 1956.
Your Directors recommend the re-appointment of auditors at the ensuing
annual general meeting.
15. Compliance Certificate:
Pursuant to the provisions of Section 383A of the Companies Act, 1956,
a certificate from the Practicing Company Secretary has been obtained
and annexed hereto and the same forms an integral part of the report.
16. Acknowledgements:
Relationship with Stock Exchange and our bankers, Securities and
Exchange Board of India & other Regulatory authorities, State
Government and Central Government remained excellent during the year
under review. Your Directors are grateful for the support extended by
them and look forward for receiving their continued support and
encouragement.
Your Directors take this opportunity to thank all employees for their
dedicated service and contribution made towards the growth of the
Company and also for rendering impeccable service to every one of the
Company''s customers.
And to you, our shareholders, we are deeply grateful for the confidence
and faith that you have always placed in us.
For and on behalf of the Board of Directors
(SATISH GOGIA)
Chairman & Managing Director
Place: New Delhi
Date: 22/05/2014
Mar 31, 2013
Dear Shareholders,
The Directors are pleased to present the 19* Annual Report and the
audited statement of accounts of Company for the year ended March 31.
2013.
1. Financial Highlights:
Particulars As on As on
31/03/2013 31/03/2012
(INR) (INR)
Income 40,339,289 37,881,367
Profit before depreciation and tax 19,243,655 15,144,010
Deprecation 2,250,142 1,863,949
Profit before tax 16,993,513 13,280,061
Current Income Tax 4,875,000 3,700,000
Deferred Tax 571676 573,617
Provision for Wealth Tax 9201 0
Profit after tax 1,15,37,636 9,006,444
Profit carried forward to the Balance
Sheet NIL 74,517 247
Earning per share on Equity Shares
of Rs. 10 each 3.67 2.86
2. Review of Performance:
During financial year 2012-13. EPS has increased from Rs. 2.86/- per
share to Rs 3.67/- per share and Profit before tax has increased by
21.85%
3. Dividend:
In order to utilize the profits for operations of the Company, your
Directors do not recommend any dividend,
4. Directors:
Mr. Ashwani Gogia retires by rotation at the ensuing annual general
meeting of the Company and being eligible, offer himself for
re-appointment.
Your Directors recommends the re-appointment of Mr. Ashwani Gogia as
director in the ensuing annual general meeting,
5. Depository System:
As the members are aware, your Company''s shares are tradable
compulsorily in electronic form and your Company has established
connectivity with both the Depositories i,e. National Securities
Depository Limited and Central Depository Services India Limited. In
view of the numerous advantages offered by the Depository System,
members are requested to avail of the facility of dematerialization of
the Company''s shares on either of the Depositories aforesaid
6, Insurance:
The properties of the Company are adequately insured
7 Fixed Deposits:
Your Company has not accepted any fixed deposits from the public under
section 58(A) of the Companies Act, 1956 and as such, no amount of
principle or interest is outstanding as of the balance sheet date.
8 Human Resource Management:
Harmonious employee relations continued to prevail in the Company. The
Company continued its focus on training and development of people
through internal and external management development programs.
9. Partirulars of Employees:
No employee of the Company was drawing salary as per limits of the
provisions of Section 217 of the Companies Act, 1956 and rules framed
there under.
10. Responsibility statement:
As required under Section 217(2AA) of the Companies AC. 1956. your
Directors confirm having:
a) followed in preparation of the annual accounts, the applicable
standards with pro explanation relating to material departures, where
applicable;
b) 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 veiw of the state of affairs of your Company at
the end of the financial year and of the profit of your Company for
that period;
c) 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 your Company and for
preventing and detecting fraud and other irregularities; and
c) prepared the annual accounts on a going concern basis.
11. Conservation of energy, tecnology absorption, foreign exchange
earnings and outgo:
Since the Company is not engaged in manufacturing or processing
business, the Company has nothing to report in respect of information
on conservation of energy and technology absobtion as required under
section 217(1) of the Companies Act, 1956 read with Companies
(Disclosures of Particulars in the Report of Board of Directors Rules,
1988.
Foreign Exchange Earnings and Outgo: and Outgo:
Current Year Previous Year
Earning NIL NlL
Expenditure NIL NIL
12. Corporate Governance:
The Company has complied with the Corporate Governance norms as
stipulated under clause 49 of the Listing Agreement. Detailed Report on
Corporate Governance forms an integral part of this Report. Certificate
of Statutory Auditors confirming compliance of the Corporate Governance
requirements by the Company is attached to the Report on Corporate
Governance.
13. Management Discussions and Analysis Report:
A detailed review of operations, performance and future outlook of the
Company is given separately under the head Management Discussion and
Analysis Report.
14. Auditors:
M/s Sunil Kulshreshta & Associates, Chartered Accountants, Statutory
Auditors of the Company, holds office until the conclusion of the
ensuing annual general meeting and are recommended for re-appointment.
A certificate from the auditors has been received to the effect that
their re-appointment, if made, would oe tn accordance with section 224
<1B) of the Companies Act, 1956.
Your Directors recommend the re-appointment of auditors at the ensuing
annual general meeting.
15. Compliance Certificate:
Pursuant to the provisions of Section 383A of the Companies Act, 1956.
a certificate from the Practicing Company Secretary has been obtained
and annexed hereto and the same forms an integral part of the report.
16. Shifting of Registered Office of the Company:
Pursuant to Section 17 of the Companies Act, 1956. Company passed a
special resolution through postal ballot pertaining to alteration of
registered office clause of Memorandum of Association on 22nd January,
2013.
As required under the provisions of Companies Act, Company has filed a
petition before the Regional Director, Ministry of Corporate Affairs.
Northern Region for obtaining approval in respect of said purpose and
order is pending to pass at the end of Regional Director.
17. Acknowledgements:
Relationship with Stock Exchange and our bankers, Securities and
Exchange Board of India & other Regulatory authorities, State
Government and Central Government remained excellent during the year
under review. Your Directors are grateful for the support extended by
them and look forward for receiving their continued support and
encouragement.
Your Directors take this opportunity to thank all employees for their
dedicated service and contribution made towards the growth of the
Company and also for rendering impeccable service to every one of the
Company''s customers.
And to you, our shareholders, we are deeply grateful for the confidence
and faith that you have always placed in us.
For and on behalf of the Board of Directors
(SATISH GOGIA)
Chairman & Managing Director
Place: New Delhi
Date: 22/05/2013
Mar 31, 2010
The Directors have pleasure in presenting the 16th Annual Report on
the business and operations of the Company for the year ended March 31,
2010.
Financial Highlights
31/03/2010 (INR) 31/03/2009 (INR)
Gross Income 36,064,764 27,404,503
Profit before depreciation
and tax 11,781,423 5,467,047
Deprecation 1,768,553 1,337,307
Profit before tax 10,012,870 4,129,740
Current Income Tax 23,09,420 500,000
Fringe Benefit Tax Nil 76,735
Deferred Tax 784,557 1,040,940
MAT Credit Adjustment Nil 425,363
Profit after tax 6,918,893 2,937,428
Profit carried forward to
the Balance Sheet 58,238,438 51,364,545
Earning per share on Equity
Shares of Rs.10 each 2.45 0.93
Dividend:
The Board of Directors have not recommend any dividend during the year
under review. Directors:
Mr. Ashwani Gogia retires by rotation at the ensuing Annual General
Meeting of the Company and being eligible offer himself for
re-appointment.
Depository System:
As the members are aware, your Companys shares are tradable
compulsorily in electronic form and your Company has established
connectivity with both the Depositories i.e., National Securities
Depository Limited and Central Depository Services India Limited. In
view of the numerous advantages offered by the Depository System,
members are requested to avail of the facility of dematerialization of
the Companys shares on either of the Depositories aforesaid.
Insurance:
The properties of the Company are adequately insured. Fixed Deposits:
Your Company has not accepted any fixed deposits from the public. As
such, no amount of principle or interest is outstanding as of the
balance sheet date.
I Human Resource Management:
Harmonious employee relations continued to prevail in the Company. The
Company continued its focus on training and development of people
through internal and external management development programmes.
Particulars of Employees:
Particulars of employees as required under Section 217(2A) of the
Companies Act, 1956 and rules framed there under, are not applicable.
Responsibility Statement:
As required under Section 217(2AA) of the Companies Act, 1956, your
Directors confirm having:
a) Followed in preparation of the Annual Accounts, the applicable
standards with proper explanation relating to material departures,
where applicable;
b) 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-your Company at
the end of the financial year and of the profit of your Company for
that period;
c) 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 your Company and for
preventing and detecting fraud and other irregularities; and
d) Prepared the Annual Accounts on a going concern basis.
Conservation of energy, technology absorption, foreign exchange
earnings and outgo:
The Company has nothing to report in respect of information on
conservation of energy and technology absorption as required under
section 217(1) of the Companies Act, 1956 read with Companies
(Disclosures of Particulars in the Report of Board of Directors) Rules,
1988 since the Company is not engaged in manufacturing or processing
business. The details regarding foreign exchange earnings and outgo are
given as Annexure III to this report.
Foreign Exchange Earning and Outgo:
Current Year Previous Year
Earning NIL (NIL)
Expenditure NIL (NIL)
Corporate Governance:
Pursuant to Clause 49 of the Listing Agreement with the Stock
Exchanges. A detailed Report on Corporate Governance forms an integral
part of this Report. A certificate of Statutory Auditor confirming
compliance of the Corporate Governance requirements by the Company is
attached to the Report on Corporate Governance.
Management Discussion and Analysis Report:
A detailed review of operations, performance and future outlook of the
Company is given separately under the head Management Discussion and
Analysis Report.
Auditors:
M/s. Sunil Kulshreshta & Associates, Chartered Accountants, Statutory
Auditors of the Company retire and offer themselves for re-appointment
as the Statutory Auditors of the Company pursuant to Section 224 of the
Companies Act, 1956.
Acknowledgements:
Relationship with Stock Exchange and our bankers, Securities and
Exchange Board of India & other Regulatory authorities, State
Government and Central Government remained excellent during the year
under review. Your Directors are grateful for the support extended by
them and look forward to receiving their continued support and
encouragement.
Your Directors take this opportunity to thank all employees, for their
dedicated service and contribution made towards the growth of the
Company and also for rendering impeccable service to every one of the
Companys customers.
And to you, our shareholders, we are deeply grateful for the confidence
and faith that you have always placed in us.
For and behalf of the Board of Directors
Place : New Delhi SATISH GOGIA
Date : 15/06/2010 Chairman & Managing Director
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