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Directors Report of Gujarat Intrux Ltd.

Mar 31, 2015

The Directors have pleasure in presenting the 23rd Annual Report of the company together with the Audited Financial Accounts for the year ended 31st March, 2015.

FINANCIAL RESULT OF OPERATION : (Rs. in Lacs.)

Particulars 2014-2015 2013-2014

Income from Operation and Other income 6005.45 3901.52

Profit/ (loss) Before Interest, Depreciation & taxation 723.34 774.04

Less: Interest and financial expenses (99.66) (24.96) Less : Depreciation & Write-off (125.47) (58.13)

Profit / (Loss) Before Taxation 498.21 690.95

Less: Provision for Taxation (174.68) (213.65)

Add / Less: Prior Year Adjustment 0 0

Net Profit / (Loss) Available 323.53 477.30

REVIEW OF BUSINESS OPERATION AND FUTURE PROSPECTS

The performance of the Company during the year under review remains satisfactory looking to the economic situation as a whole. The sales of the Company have increased both in domestic and export segment. The Company is aiming to maintain the profitability and give boost up to the export of the company.

EQUITY INFUSION

Your company has not issued any equity shares during the year under review.

DIVIDEND

Your Board of Directors has recommended the final dividend at the rate of 10% to the equity shareholders i.e. Rs. 1/- per equity shares ofRs.10/-.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Your Company has not made transaction forming part of section 186 of the Companies Act, 2013.

RELATED PARTY TRANSACTIONS

Particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013, in the prescribed Form AOC-2 is appended as Annexure 02 to the Board's report.

MATERIALCHANGES AND COMMITMENT

No material changes and commitment affecting the financial position of the Company occurred between the end of financial year to which this financial statement relate and the date of this report.

INTERNAL FINANCIAL CONTROLS

The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weakness in the operation was observed.

INSURANCE

The assets of the company including buildings, plant & machinery, stocks, etc. Wherever necessary and to the extent required have been adequately insured against various risk.

SEGMENT REPORTING

The Company is engaged in the Casting business only and therefore there is only one reportable segment in accordance with the Accounting standards on segment reportingAS-17.

INDUSTRIAL RELATIONS & HUMAN RESOURCES

The company treats its all manpower as a valuable assets and growth of the company is possible through entire workforce working in the company. The industrial relation with workmen and staff continued to be extremely cordial during the year under review. The Board wishes to take place on record its appreciation for the valuable services rendered by its entire workforce.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Your Company has always believed in providing a safe and harassment free workplace for every individual working in Gujarat In trux's premises through various interventions and practices. The company has formed an Internal Complaints Committee (ICC) and during the year Internal Complaints Committee (ICC) has not received any complaints. The policy on prevention of sexual harassment is placed on the website of the company.

PARTICULARS OF EMPLOYEES

Disclosures pertaining to remuneration and other details as required under Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided in the Annual Report. In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules is not applicable to the Company as the Company have no such Employees who were drawing remuneration in excess of the limits prescribed. Particulars of Employees are attached with this report as Annexure 03.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management discussion and analysis report for the year under review, as stipulated under clause 49 of the Listing Agreement is presented in separate section and forms part of the Annual Report.

CORPORATE GOVERNANCE

Corporate Governance is a system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of the many stakeholders in a company, these include its shareholders, management, customers, suppliers, financiers, government and the community and considering the importance of Corporate Governance, your Company is committed to maintaining the highest standards of corporate governance and adheres to the corporate governance requirement set out by SEBI. All conditions of corporate governance as required under clause 49 of the listing agreements with stock exchanges have been complies with and duly audited. A certificate from the statutory auditors of the company regarding compliance of conditions of corporate governance has been obtained and is enclosed to the report of corporate governance.

CEO CERTIFICATION

Pursuant to the provisions of clause 49 of the Listing Agreement, the CEO Certification for preparation of financial statements etc, is forming part to this report.

NUMBEROFMEETINGSOF THE BOARD

The Board has met Eight times during the financial year, the details of which are given in the Corporate Governance Report and forms part of Annual Report. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013.

DIRECTORS

Shri Madhubhai S. Patolia and Shri Dilipbhai M. Dudhagara Directors of the Company retires at the ensuing Annual General Meeting pursuant to provision of section 152(6) of the Companies Act, 2013 and being eligible offer themselves for re-appointment.

A Notice in Writing proposing Shri Mahendra K. Sheth and Ms. Rina L Adhiya as a candidature to hold office of Director who were appointed as Additional Director of the Company w.e.f 27th September, 2014 and who is liable to hold office up to date of the ensuing annual general meeting and Board proposed to appoint the as Independent Director of the Company.

Mr. Y. C. Anarkat and Mr. B. O. Jadav resigned as Directors of the Company w.e.f 19th September, 2014.

DECLARATION BY INDEPENDENT DIRECTORS

The Company has received necessary Declaration from each Independent Director under section 149(7) of the Companies Act, 2013 that he/she meets with the criteria of Independence laid down in Section 149(6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

POLICY ON DIRECTORS'APPOINTMENT AND REMUNERATION

The Company's Policy relating to appointment of Directors, payment of Managerial remuneration, Directors' qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies Act, 2013 is furnished in Corporate Governance Report which forms part of this report and said policy is placed on the website of the company. Further, information about directors' sitting fees has also explained in the same report.

BOARD EVALUATION

As per Companies Act, 2013 Board has made annual evaluation of its own performance and also of its committees and Individual Directors. The evaluation of all the directors and the Board as a whole was conducted based on the criteria and framework adopted by the Board.

COMMITTEES OF THE BOARD

At present the Company is having 5(Five Committees) as mentioned below:

AUDIT COMMITTEE:

The Company has an adequately qualified Audit Committee constituted in accordance with the provisions of Section 177 of the Companies Act, 2013 and clause 49 of the listing agreement. The details of composition of Committee and other relevant details is given in the Corporate Governance Report which forms part of this Annual Report.

NOMINATION AND REMUNERATION COMMITTEE:

The Company has also constituted Nomination and Remuneration Committee Pursuant to provision of section 178 of the Companies Act, 2013 and the details of composition of Committee and other relevant details is given in the Corporate Governance Report which forms part of this Annual Report.

STAKEHOLDERS RELATIONSHIP COMMITTEE:

To consider and resolve the Grievances of Stakeholders, the Company has framed Stakeholders Relationship Committee in accordance with the provision of section 178 of the Companies Act, 2013 and the details of composition of Committee and other relevant details is given in the Corporate Governance Report which forms part of this Annual Report.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE:

The Company is committed to conduct its business in a socially responsible, ethical and environmental friendly manner and to continuously work towards improving quality of life of the communities. The Company has a duly constituted CSR Committee, which is responsible for fulfilling the CSR objectives of the Company and the details of composition of Committee and other relevant details is given in the Corporate Governance Report which forms part of this Annual Report.

RISK MANAGEMENT COMMITTEE

The Company has framed Risk Management Committee which mainly aims at identification of Risk level at various stages of Business operation/ activities and to manage the Risk and evaluation of RMS i.e Risk Management System. The details of composition of Committee and other relevant details is given in the Corporate Governance Report which forms part of this Annual Report.

DIRECTORS RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility Statement As enumerated under:-

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed.

(b) The directors had 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 and loss of the company for that period;

(c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis;

(e) The directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

(f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

AUDITORS AND AUDITORS'REPORT

STATUTORY AUDITORS

Pursuant to provision of section 139 of the Companies Act, 2013 M/s Chandabhoy & Jassoobhoy, Chartered Accountants, Statutory Auditors of the Company have been appointed to hold office till the conclusion of Annual General Meeting of the Financial year 2016-17, subject to ratification by the Members at the ensuing Annual General Meeting and M/s. Chandabhoy & Jassoobhoy, being eligible offers their services to continue to act as a Auditors of the Company.

STATUTORY AUDITORS' REPORT

The observations of Auditors in their report read with the relevant note to accounts in schedule are self-explanatory and do not require further explanation.

SECRETARIAL AUDITOR

Pursuant to Provision of section 204(1) of the Companies Act, 2013,the Board has appointed M/s. K. P. Rachchh & Co., Practicing Company Secretary, to conduct Secretarial Audit for the financial year 2014-15.

SECRETARIAL AUDITORS' REPORT

The Secretarial Audit Report for the financial year ended March 31, 2015 is annexed herewith to this Report. Secretarial Auditors' Report in the prescribed format i.e. MR-3 in attached in this report as Annexure 04.

EXTRACT OF ANNUAL RETURN

In accordance with Section 134(3)(a) of the Companies Act, 2013, an extract of the annual return in the prescribed format is appended as Annexure 05 to the Board's report.

CORPORATE SOCIAL RESPONSIBILITY

During the year under review, the Board of Directors on recommendation of the CSR Committee has formulated the CSR policy of the Company. The CSR activities of the Company are implemented in accordance with the core values viz. protecting stakeholder interests, proactive engagement with the local communities and striving towards inclusive development. With the recommendation of the committee, provision for CSR expense of Rs.14.31 Lacs is made in the financial year 2014-15 which is yet to be spent due to proper identification of proper area where it is to be spend so that its actual benefit goes to the society and our motive i.e. "empowering kindness" be full filled. The CSR Policy is placed on website of the company.

CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The information pertaining to conservation of energy, technology absorption, Foreign exchange Earnings and outgo as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished in Annexure 06 attached to this report.

WHISTLE BLOWER POLICY (VIGIL MECHANISM)

The Company has in place a whistle blower policy, to support the Code of Business Ethics. This policy documents the Company's commitment to maintain an open work environment in which employees, consultants and contractors are able to report instances of unethical or undesirable conduct, actual or suspected fraud or any violation of Company's Code of Business Ethics at a significantly senior level without fear of intimidation or retaliation. The said policy is placed on the website of the company.

ACKNOWLEDGMENT

Your Directors wish to place on record their gratitude for the continued co-operation and patronage extended by their esteemed customers. The Board of Directors would also like to express their sincere appreciation for the continued co-operation, guidance, support and assistance during the year given by our Bankers, all the customers, suppliers of the Company including Government agencies. The Board of Directors also wishes to express its appreciation for the efforts and contribution made by the employees at all levels during the year underreport

Place: Shapar (Dist.:Rajkot)

Date: 30th July, 2015 for and on behalf the Board of

Gujarat Intrux Limited

Raman D. Sabhaya

(Chairman)

DIN: 00569058


Mar 31, 2014

Dear Members,

The Directors of your company are pleased to present 22 nd Annual Report of the Company together with the Audited accounts for the year ended 31st March, 2014.

FINANCIAL HIGHLIGHTS (Rs. In Lacs)

Particulars 2013-2014 2012-2013

Income from Operation and Other income 3901.52 5425.14

Profit / (loss) Before Interest, Depreciation & taxation 774.04 954.73

Less: Interest and financial expenses 24.96 76.57

Depreciation & Write-off 58.13 52.51

Profit / (Loss) Before Taxation 690.95 825.65

Less: Provision for Taxation 213.65 260.34

Add / Less: Prior Year Adjustment 0.00 0.00

Net Profit / (Loss) Available 477.30 565.31

DIVIDEND

Your Board of Directors has recommended the final dividend at the rate of 10% to the equity shareholders i. e. Rs.l/- per equity shares of Rs. 10/- each.

INSURANCE

The assets of the company including buildings, plant & machinery, stocks, etc. wherever necessary and to the extent required have been adequately insured against various risk.

OPERATIONS

During the financial year 2013-14, the sales have reduce as compared to previous financial year due to the market situation. In present situation, your company concentrating on such products which gives more profitability.

CAPITAL STRUCTURE

During the year the Company has forfeited 35,100 Equity Shares in compliance with the respective provisions of the Companies Act, 1956 and listing aggrement and the same has been reflected in the Balance Sheet and not reissued till date.

COST AUDITORS

M/s. Kiran J. Mehta & Co., Cost Accountants, Ahmedabad have been re-appointed as Cost Auditors to conduct the audit of cost accounts maintained by the Company for the financial year 2013-14.

DIRECTORS

Shri Amrutlal J Kalaia, and Shri Bharat M. Choksi, directors of the company retire by rotation, and being eligible, offer themselves for re-appointment.

Shri Gajanan R. Kamat, Shri Narendra C. Pithadia, Shri Ramesh M. Bhimani and Shri Gordhan K. Sorthia directors of the Company are being appointed as Independent Directors for a continuous period of 5 years as per provision of Section 149 and other applicable provisions of Companies Act, 2013.

DIRECTORS RESPONSIBILITY STATEMENT

As per the requirement of section 217 (2AA) of The Companies Act, 1956, your directors undertakes that:

(a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper expla- nation relating to materials departures.

(b) 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 or loss of the company for that period.

(c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

(d) That the directors have prepared the annual accounts on a going concern basis.

CORPORATE GOVERNANCE

Your Company is committed to maintaining the highest standards of corporate governance and adheres to the corporate gover- nance requirement set out by SEBI. All conditions of corporate governance as required under clause 49 of the listing agreements with stock exchanges have been complied with and duly audited. A certificate from the statutory auditors of the company regard- ing compliance of conditions of corporate governance has been obtained and is enclosed to the report of corporate governance.

CORPORATE SOCIAL RESPONSIBILITY

Your Company understand the value of CSR i.e. Corporate Social Responsibility and considering the importance of CSR, company has also framed corporate social responsibility committee pursuant to provision of Companies Act, 2013 to undertake and moni- tor the CSR activities.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management discussion and analysis report for the year under review, as stipulated under clause 49 of the Listing Agreement with the BSE Limited, is presented in separate section and forms part of the Annual Report.

COMPLIANCE CERTIFICATE

Pursuant to the provisions of section 383A of the Companies Act, 1956 a certificate of compliance by a Practising company secretary is annexed hereto and forms part of this report.

CEO CERTIFICATION

Pursuant to the provisions of clause 49 of the Listing Agreement, the CEO Certification for preparation of financial statements etc, is available elsewhere in this report.

SEGMENT REPORTING

The Company is engaged in the Casting business only and therefore there is only one reportable segment in accordance with the Accounting standards on segment reporting AS-17.

AUDITORS'' REPORT

The observations of Auditors in their report read with the relevent note to accounts in schedule are self-explanatory and do not require further explanation.

AUDITORS

M/s. Chandabhoy & Jassoobhoy (FRN NO. 101648W), Chartered Accountant, Ahmedabad, Statutory Auditors of the Company retire at the conclusion of the forthcoming Annual General Meeting and being eligible, offer themselves for re-appointment. They have furnished a certificate to the effect that their re-appointment if made will be in accordance with section 224(1B) of the Companies Act, 1956.

HUMAN RESOURCES

The company treat it''s all manpower as a valuable assets and growth of the company is possible through entire workforce work- ing in the company. Industrial Relation continue to be cordial. The Board wishes to take place on record its appreciation for the valuable services rendered by its entire workforce.

INFORMATION PURSUANT TO SECTION 217 OF THE COMPANIES ACT, 1956.

A. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EARNING AND OUTGO :

The information relating to the conservation of energy, technology absorption and foreign exchange earning and outgo as re- quired under section 217(l)(e) of the Companies Act, 1956, is set out in a separate statement annexed to this Report as an Annexure - A and forming part of this report.

B. PARTICULARS OF EMPLOYEES

The Company has no such employee on its payroll covered under section 217(2-A) and therefore Section 217(2-A) of the Compa- nies Act, 1956 is not attracted.

ACKNOWLEDGMENTS

Your Directors would like to express their grateful appreciation for the assistance and co-operation extended by the sharehold- ers, customers, contractors, vendors, bankers, financial institutions, government authorities. The directors also wish to take place on record their deep sense of appreciation to all employees for the dedicated services rendered at various levels, without whose contribution your company could not have achieved the year''s performance and work look forward to their continued support in the future as well.

Place : Shapar (Dist. : Rajkot) For and on behalf of the Board of Directors

Date - 31st JuIy 2014 Gujarat Intrux Limited

Raman D. Sabhaya

(Chairman)

DIN : 00569058


Mar 31, 2013

The Directors of your company are pleased to present 21st Annual Report of the Company together with the Audited accounts for the year ended 31st March, 2013.

FINANCIAL HIGHLIGHTS (Rs. In Lacs)

Particulars 2012-2013 2011-2012

Income from Operation and Other income 5425.14 3782.36

Profit / (loss) Before Interest, Depreciation & taxation 954.73 737.49

Less: Interest and financial expenses 76.57 56.15

Depreciation & Write-off 52.51 48.68

Profit / (Loss) Before Taxation 825.65 632.66

Less: Provision for Taxation 260.34 207.35

Add / Less: Prior Year Adjustment 0.00 0.00

Net Profit / (Loss) Available 565.31 425.31

DIVIDEND

With a view to conserve the resources, Board of Directors has not recomended dividend for the year 2012-13.

INSURANCE

The assets of the company including buildings, plant & machinery, stocks, etc. wherever necessary and to the extent required have been adequately insured against various risk.

OPERATIONS

During the financial year 2012-13, the sales have gone up as compared to previous financial year.

In present situation, your company is concentrating on such products which gives more profitability. As capacity is increased, if market position remain favorable your company can maintain growth in terms of turnover and profit also.

COST AUDITORS

M/s. Kiran J. Mehta & Co., Cost Accountants, Ahmedabad have been reappointed as Cost Auditors to conduct the audit of cost accounts maintained by the Comapny for the financial year 2012-13.

DIRECTORS

Shri Dhiraj D. Pambhar, Shri Raman D. Sabhaya and Shri Bhupat O. Jadav , directors of the company retire by rotation, and being eligible, offer themselves for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT

As per the requirement of section 217 (2AA) of The Companies Act, 1956, your directors undertakes that :

(a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explaination relating to materials departures.

(b) 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 or loss of the company for that period.

(c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

(d) That the directors have prepared the annual accounts on a going concern basis.

CORPORATE GOVERNANCE

Your Company is committed to maintaining the highest standerds of corporate governance and adheres to the corporate governance requirement set out by SEBI. All conditions of corporate governance as required under clause 49 of the listing agreements with stock exchanges have been complies with and duly audited. A certificate from the statutory auditors of the company regarding compliance of conditions of corporate governance has been obtained and is enclosed to the report of corporate governance.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management discussion and analysis report for the year under review, as stipulated under clause 49 of the Listing Agreement with the BSE Limited, is presented in separate section and forms part of the Annual Report.

COMPLIANCE CERTIFICATE

Pursuant to the provisions of section 383A of the Companies Act, 1956 a certificate of compliance by a Practising company secretary is annexed hereto and forms part of this report.

CEO CERTIFICATION

Pursuant to the provisions of clause 49 of the LIsting Agreement, the CEO Certification for preparation of financial statements etc, is available elsewhere in this report.

SEGMENT REPORTING

The Company is engaged in the Casting business only and therefore there is only one reportable segment in accordance with the Accounting standerds on segment reporting AS-17.

AUDITORS'' REPORT

The observations of Auditors in their report read with the relevent note to accounts in schedule are self-explanatory and do not require further explanation.

AUDITORS

M/s. Chandabhoy & Jassobhoy, Chartered Accountant, Ahmedabad, Statutory Auditors of the Company retire at the conclusion of the forthcomIng Annual General Meeting and being eligible, offer themselves for re-appointment. They have furnished a certificate to the effect that their re-appointment if made will be in accordance with section 224(1B) of the Companies Act, 1956.

HUMAN RESOURCES

The company treat it''s all manpower as a valuable assets and growth of the company is possible through entire workforce working in the company. Industrial Relation continue to be cordial. The Board wishes to take place on record its appreciation for the valuable services rendered by its entire workforce.

INFORMATION PURSUANT TO SECTION 217 OF THE COMPANIES ACT, 1956.

A. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EARNING AND OUTGO :

The information relating to the conservation of energy, technology absorption and foreign exchange eaarning and outgo as required under section 217(1)(e) of the Companies Act, 1956, is set out in a separate statement annexed to this Report as an Annexure - A and forming part of this report.

B. PARTICULARS OF EMPLOYEES

The Company had no such employee on its payroll covered under section 217(2-A) and therefore Section 217(2-A) of the Companies Act, 1956 is not attracted.

ACKNOWLEDGMENTS

Your Directors would like to express their greatful appreciation for the assistance and co-opration extended by the shareholders, customers, vendors, bankers, financial institutions, government authorities. The directors also wish to take place on record their deep sense of appreciation to all employees for the dedicated services rendered at various lavels, without whose contribution your company could not have achieved the year''s performance and work look forward to their continued support in the future as well.

Place : Shapar (Dist. : Rajkot)

For and on behalf of the Board of Directors

Date : 25 July, 2013 The Gujarat Intrux Limited

Raman D. Sabhaya

(Chairman)


Mar 31, 2012

The Directors have pleasure in presenting you the TWENTIETH ANNUAL REPORT of the Company together with the Audited accounts for the year ended 31st March, 2012.

FINANCIAL HIGHLIGHTS (Rs. In Lacs)

Particulars 2011-2012 2010-2011

Income from Operation and Other income 3780.86 2845.52

Profit / (loss) Before Interest, Depreciation & taxation 735.99 401.42

Less: Interest and financial expenses 56.15 49.76

Depreciation & Write-off 48.67 44.25

Profit / (Loss) Before Taxation 631.17 307.41

Less: Provision for Taxation 205.85 110.52

Add / Less: Prior Year Adjustment 0.00 0.00

Net Profit / (Loss) Available 425.32 196.89

DIVIDEND

Your Board of Directors has recomended the Final Dividend at the rate of 10% to the Equity Shareholder i.e. Rs. 1/- per Equity share of Rs.10/- each.

INSURANCE

Properties of the Company viz. Buildings, Plant & Machinery, Stocks, etc. have adequately insured against various risk.

FUTURE OUTLOOK

During the financial year 2011-12, the company has scaled new heights in terms of Sales and Profits. Your company has completed basic infrastructure of expansion of plant but due to adverse market position presently capacity remain un utilized but we are constantly making efforts to capture market. In present situation your company is concentrating on such products which gives us more profitability. As capacity is increased, if market position remain favorable your company can maintain growth in terms of turnover and profit also.

COST AUDITORS

As directed by the Central Government and pursuant to section 233B of the Companies Act, 1956, the company has appointed, subject to the approval of Central Government, Kiran J. Mehta & Co., Cost Accountants, as Cost Auditors to carry out cost audit of the comapny for the financial year 2011-12.

DIRECTORS

In accordance with the provisions of Companies Act,1956 and Article of Association of Company Shri Dilip M. Dudhagara, Shri Rameshbhai M. Bhimani and Shri Narendrabhai C. Pithadia, Directors, retire by rotation, and being eligible, offer themselves for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT

As per the requirement of U/S 217 (2AA) of The Companies Act, 1956, your directors undertakes that :

(a) In the preparation of the annual accounts, the applicable accounting standard have been followed along with proper explaination relating to materials departures.

(b) 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 or loss of the company for that period.

(c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

(d) That the directors have prepared the annual accounts on a going concern basis.

CORPORATE GOVERNANCE

Policies of the Board of Directors of your Company and steps taken by it for good governance of the Company confirm to the procedural formalities of corporate governance prescribed by the Securities and Exchange Board of India. All Conditions of corporate governance as required under clause 49 of the listing agreements with stock exchanges have been complied with and duly audited. A certificate from the statutory auditors of the company regarding compliance of conditions of corporate governance has been obtained and is enclosed to the Report of Corporate Governance.

AUDITORS REPORT

The observations of Auditors in their report read with the relevant notes to accounts in Schedule are self-explanatory and do not require further explanation.

AUDITORS

M/s. H.B. Kalaria & Associates, Chartered Accountant ,Rajkot, auditors of the Company retire at the Conclusion of the forthcoming Annual General Meeting and being eligible, offer themselves for re-appointment. They have furnished a certificate to the effect that their re-appointment, if made, will be in accordance with Section 224 (1B) of the Companies Act,1956.

COMPLIANCE CERTIFICATE

In accordance with Section 383A of the Companies Act, 1956 read with Companies (Compliance Certificate) Rules, 2001, the Company has obtainded a certificate from M/s. K. P. Rachchh & Co. Practicing Company Secretaries and a copy of same is enclosed here with.

PERSONNEL

Industrial Relation continue to be cordial. The Board wishes to take place on record its appreciation for the valuable services rendered by its entire workforce.

PARTICULARS OF EMPLOYEES

The Company had no such employee on its payroll covered under section 217 (2-A) and therefore Section 217(2-A) of the Companies Act, 1956 is not attracted.

CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT

Details of Energy Conservation & technology Absorption and Research and Development [Required as per the companys (Disclosure of particulars in the report of the board of Directors) Rules,1988] are given in Form-A and Form-B.

FOREIGN EXCHANGE EARNINGS AND OUT GO

Earnings Rs. 1665.57 Lacs

Out go Rs. 20.72 Lacs

ACKNOWLEDGMENTS

Your Directors would like to express their greatful appreciation for the assistance and co-opration received from the Bankers, Financial Institutions, Government Authorities, Customers, Vendors. The directors also wish to express their gratitude to the Shareholders for their continued faith in the Company. The Directors also wish to take place on record their deep sense of appreciation for committed services of Executives, Staff and workers of the Company.

Place : Shapar

(Dist. : Rajkot) For and on behalf of the Board of Director

Date : 28th July, 2012 Gujarat Intmx Limited

Raman D. Sabhaya

(Chairman)


Mar 31, 2010

The directors have pleasure in presenting you the EIGHTEENTH ANNUAL REPORT of the Company together with the Audited accounts for the year ended 31st March, 2010.

FINANCIAL HIGHLIGHTS (Rs. In Lacs)

Particulars 2009-2010 2008-2009

Income from Operation and Other income 1927.94 2265.42

Profit/(loss)Before Interest, Depreciation &Taxataion 194.18 414.37

Less: Interest and financial expenses 29.52 24.39

Depreciations Write-off 39.50 24.93

Prof it/(Loss) Before Taxation 125.16 365.05

Less: Provision for Taxation 54.36 119.92

Add/Less: Prior Period Adjustment 1.83 -0.31

Net Profit/(Loss) Available 72.63 244.82



DIVIDEND

Seeing the current position of the industry and the company, your Board of Directors do not recommend the dividend for the year 2009-10.

INSURANCE

Properties of the Company viz. Buildings, Plant & Machinery, Stocks, etc. have adequately been insured against various risks.

FUTURE OUT LOOK

Your company has completed basic infrastructure of expansion of plant and now we can produce 300 MT castings per month, still sand plant, knockout machine and spectrometer are yet to purchase and required investment of another 2 Crore. Now we can produce castings up to 2 MT Single piece. Due to adverse market position presently capacity remain un utilized but we are constantly making efforts to capture market .In present situation your company is more concentrating on such products which give us more profitability. As capacity is increased ,now if market position remains favorable your company can maintain growth in terms of turnover and profit also.

DIRECTORS

In accordance with the provisions of Companies Act, 1956 and Article of Association of Company Shri Amrutlal J.Kalaria, Shri Yogendra C.Anarakat and Shri Gordhan K.Sorathia, Directors, retire by rotation, and being eligible, offer themselves for re-appointment.

Shri Amrutlal J. Kalaria and Shri Dilip M. Dudhagara have tendered their Resignation w.e.f. 30.07.2010 for the post of whole time director of the company, however they continues as the director of the company.

DIRECTORS RESPONSIBILITY STATEMENT

As per the requirement of U/S 217 (2AA) of The Companies Act, 1956.Your directors undertakes that :

(a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to materials departures.

(b) 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 or loss of the company for that period.

(c) The directors have taken proper and sufficient care for the maintenance of adequate accounting cecords in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

(d) That the directors have prepared the annual accounts on a going concern basis.

CORPORATE GOVERNANCE

Policies of the Board of Directors of your Company and steps taken by it for good governance of the Company confirm to the procedural formalities of corporate governance prescribed by the Securities and Exchange Board of India. All Conditions of corporate governance as required under clause 49 of the listing agreements with stock exchanges have been complied with and djly audited. A certificate from the statutory auditors of the company regarding compliance of conditions of corporate governance has been obtained and is enclosed to the Report of Corporate Governance.

AUDITORS REPORT

The observations of Auditors in their report read with the relevant notes to accounts in Schedule are self-explanatory and do not require further explanation.

AUDITORS

M/s. H.B. Kalaria & Associates.Chartered Accountant, Rajkot, auditors of the Company retire at the conclusion of the forthcoming Annual General Meeting and being eligible, offer themselves for re-appointment. They have furnished a certificate to the effect that their re-appointment, if made, will be in accordance with Section 224 (1B) of the Companies Act,1956.

PERSONNEL

Industrial Relation continue to be cordial. The Board wishes to take place on record its appreciation for the valuable services rendered by its entire workforce.

PARTICULARS OF EMPLOYEES

The Company had no such employee on its payroll covered under section 217 (2-A) and therefore Section 217(2-A) of the Companies Act, 1956 is not attracted.

CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT

Details of Energy Conservation & technology Absorption and Research and Development [Required as per the Companys (Disclosure of particulars in the report of the Board of Directors) Rules,1988] are given in Form-A and Form-B.

FOREIGN EXCHANGE AN EARNINGS AND OUT GO

Earnings Rs. 577.53 Lacs

Out go NIL

ACKNOWLEDGMENTS

Your Directors would like to express their grateful appreciation for the assistance and co-opration received from the Bankers, Financial Institutions, Government Authorities, Customers, Vendors. The directors also wish to express their gratitude to the Shareholders for their continued faith in the Company. The Directors also wish to take place on record their deep sense of appreciation for committed services of Executives, Staff and workers of the Company.

For and on behalf of the Board of

Place : Shapar (Dist. : Rajkot) Gujarat Intrux Limited

Date : 30,th July, 2010

Raman D. Sabhaya

(Chairman)



 
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