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Directors Report of Jagan Lamps Ltd.

Mar 31, 2015

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Mar 31, 2011

Dear Share Holders,

The Directors have pleasure in presenting the Ninteenth Annual Report on the business and operations of the Company for the year ended March 31, 2011 and the Audited Statement of Accounts of the Company along with Auditors Report thereon.

FINANCIAL HIGHLIGHTS Year Ended 31/03/2011

Sales & Other Income 170167492

Total Expenditure 156254055

Profit before Interest & Depreciation 13913437

Interest 0

Depreciation 5907770

Net Profit 8005667

Provision for Taxes 2350000

Income Tax Adjustments 92889

Surplus carried to Balance Sheet 5562778

EPS(Rs) 0.81

PERFORMANCE HIGHLIGHT

Despite Challenges, your company provided quality products and due to this , your company had achieved its targets. Further the profit of your company are better as compared to the correspondent Year.

This achievement has been made possible by the high effort of the staff and the management of the company

BUSINESS

Your Company is mainly in the business of manufacturing of Automotive Bulbs & Lights. The Automobile industry has booked fantastic growth beyond their initial expectations,which is good signal for your company. The Company holds 100% Export oriented status.

MODERNIZATION OF PLANT

Your company has recently installed an Automatic Line to produce halogen bulbs, which is in continuation to its efforts for becoming market leader in its line. All investments has been made from internal Accruals. Your company has invested for R & D facility for facilitating in New Development for new products as demanded in European & American Market at low cost for high Quality products.

OPPORTUNITIES

Hie Marketing Team of your company is regularly in the process of expanding its exports in the new markets as we are doing in the past as well.

THREATS

- Regular Increase in Energy prices, Fuel Prices, Running Cost may adversely affect the profitability of the company.

- Increase in the cost of work force may impact the profitability of the company.

- Slow down of the economic situation ail over the world may effect the sales and profitability of the company.

Your management is highly optimistic about the future.

LOCALIZING OF RAW MATERIALS

The management is towards urgently progress in localizing of Imported raw materials in order to reduce its cost.

RISK AND CONCERN

Though the management keep complete watch on the expenses and wastage at production level even the operating margins are under huge pressure due to increase in energy prices, raw material cost & other input costs are creating pressure on operating margins. It, may not be possible for the company to recover the entire increase in raw material and input costs from the customers.

SEGMENTWISE PERFORMANCE

As per the relative segment reporting requirements, the company operates in Single Segment of Automotive Bulbs & Lights.

LISTING OF SHARES

The Equity Shares of the Company are listed on The Bombay Stock Exchange Ltd., Mumbai, having Company Code 530711 and Delhi Stock Exchange Association Ltd., having Company Code 7355. The Listing Fees up to the Financial Year 2011 -12 has been paid.

INTERNATIONAL SECURITIES IDENTIFICATION NUMBER (ISIN)

The annual custodial fees for the Financial Year 2011-12 have been paid to National Securities Depository Limited (NSDL) and Central Depository Services Ltd., (CDSL). The ISIN Number of the company is INE144C01014.

REGISTRAR AND SHARE TRANSFER AGENT

The Members are requested to correspond with Companies. Registrar and Share Transfer Agent "Mas Services Ltd., T-34, 2nd Floor Okhla Industrial Area Phase -II, New Delhi - 110020" for change of address, Physical transfer of shares, De-mat requests and other investors related matters are placed before the Transfer Committee on fortnight basis. Dematerialization of shares are processed within 15 days. Other miscellaneous matters are processed by the Registrar within 30 days.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

Your company has a proper and adequate system of internal controls commensurate with its size to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition and all the transactions are authorized, recorded and reported correctly. It ensures that all financial and other records are reliable for preparing financial statements and other data for maintaining accountability of assets.

CONSERVATION OF ENERGY

The company continues its policy of priority to energy conservation measures including regular review of energy conservation, consumption and effective control and utilization of energy.

QUALITY

Your company is quality driven organization. All personal are critical during high growth. The theme of the management of your company is quality oriented & committed to Quality.

DEVELOPMENT IN HUMAN RESOURCES

Sound Human resources development policies of the company ensures that each employee as an individual and contributes to the performance of the company, regular in house training programs for all employees help in this objective.

Employees are the most valuable asset of the company. Your Company strongly recommends that employees are the key pillar in our success it is our belief that employees have to be given the right environment for their talents to bloom and they need to be nurtured as one of our most important assets. Our constant endeavor has therefore been to provide them with an enabling atmosphere where they are motivated to deliver their best. Initiatives have been taken to become a performance driven organization by retaining and developing leadership potential. The company is committed to continuously improve safety and health of employees.

CAUTIONARY NOTE

Certain statements in the management discussions and analysis section may be forward looking and are stated as required by applicable laws and regulations, may affect the actual results, which would be different from directors report and sales in terms of future performance and outlook.

FIXED DEPOSIT / PUBLIC DEPOSITS

The company has not accepted any Fixed Deposits u/s 58A of the Companies Act during the year under Review.

FOCUS POINT

The management of your company is committed for availability of funds, localization of imported raw materials, impact of of commodity price & quality. Growth, profitability & Customer satisfaction is the main theme of your company.

ACTION PLAN

The management always work by concrete action plan for continuous Growth & profitability. The Company has deployed new policies such as :-

a) The staff of your company is all more efficient operations & more productive people.

b) consolidated buying for favorable rates, c) Yield improvement, d) Productivity, suggestion scheme, quality & people management.

AUDITORS

M/s Bhasin Raghavan & Co. Chartered Accountants, New Delhi, Auditors of the Company retires at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

AUDITORS REPORT

The observation of the Auditors contained in the Auditors Report, read with Notes on Accounts are self explanatory and do not call for any further clarifications.

ACKNOWLEDGEMENT

The Board of Directors wish to place on record their gratitude to the shareholders, State & Central Government authorities, vendors, bankers, customers and other business associates for their support and co-operation extended to the company,

Your Directors place on record their deep appreciation for exemplary contribution of the employees at all levels.Their dedicated efforts and enthusiasm has been inteqral to vour Company's impressive qrowth.

For and on Behalf of the Board of Directors For Jagan Lamps Ltd., Sd/- (S.P.Aggrawal) Managing Director

Dated : 30.07.2011 Place : Kundli


Mar 31, 2010

The Directors have pleasure in presenting the Eighteenth Annual Report on the Business and Operations of the Company for the year ended March 31, 2010 and the Audited Statement of Accounts of the Company along with Auditors Report thereon.

FINANCIAL HIGHLIGHTS Year Ended 31/03/2010

Sales & Other Income 113415094

Total Expenditure 108035651

Profit before Interest & Depreciation 12088534

Interest 0

Depreciation 5087380

Net Profit 7001154

Provsion for Taxes 2085000

Income tax Adjustments 2522565

Surplus carried to Balance Sheet 2393589

EPS (Rs.) 0.35

PERFORMANCE HIGHLIGHT

As you are aware that the world is facing economic crises and the business is facing severe recession but the sales of your company has increased by about 6.25% as compared to the sales of previous year. The profitablity of your company has also incressed as compared to the correspondent year. This achievement has been made possible by the entiring efforts of the staff and the management of your Company.

BUSINESS

Your Company is mainly in the Business of Manufacturing Automotive Bulbs and Lights. The Company holds 100% Export oriented status. During the year, your company has imported a new Automatic manufacturing line of machine to produce best quality of Halogen bulbs. This will increase the sales as well as the profitability of your company.

OPPORTUNITIES

The Marketing Team of your company is in the process of expanding its exports in the-new markets where your company is not representing at the moment.

THREATS

- Regular Increse in Energy prices, Fuel Prices, Running Cost may adversely affect the profitability of the Company.

- Increase in the cost of work force may have impact the profitability of the company.

- Slow down of the econmic situation all over the world may effect the sales and profitabilty of your company

RISK AND CONCERN

Though the management keeps complete watch on the expenses and wastage at production level even then operating margins are under huge presssure due to increase in energy prices, raw material cost & other input costs, which are creating pressure on operating margins. It may not be possible for the company to recover the entire increase in raw materials and input costs from the customers.

SEGMENTWISE PERFORMANCE

As per the relative segment reporting requirments, the company operates in Single Segment of Automotive Bulbs and Lights.

LISTING OF SHARES

The Equity Shares of the Company are listed on The Bombay Stock Exchange Ltd., Mumbai, having Company Code 530711 and Delhi Stock Exchange Association Ltd., having Company Code 7355. The Listing Fees for the Financial Year 2010-11 has been paid.

INTERNATIONAL SECURITIES IDENTIFICATION NUMBER {ISIN)

The annual custodial fees for the Financial Year 2010-11 have been paid to National Securities Depository Limited (NSDL) and Central Depository Services Ltd.(CDSL). The ISIN Number of the company is INE144C01014.

REGISTRAR AND SHARE TRANSFER AGENT

The Members are requested to correspond with companys Registrar and Share Transfer Agent"Mas Services Ltd., T-34, 2nd Floor Okhla Industrial Area Phase-ll, New Delhi-110020" for Change of address, Physical transfer of shares, Demat requests and other investor related matters. lt is advised to send the request directly to the registrar & share transfer agent for speedly disposal.

Shares lodged for transfer at the Registrars address are normally processed and approved by the Share Transfer Commitee on fortnight basis. Dematerjalization of shares are processed within 15 days. Other miscellaneous matters are processed by the Registrar within 30 days.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

Your Company has a proper adequate system of Internal Controls commensurate with its size to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition and the transactions , are authorized, recorded and reported correctly. It ensures that all financial and other records are reliable for preparing financial statements and other data for maintaining accountability of assets.

CONSERVATION OF ENERGY:

The Company Continues its policy of priority to energy conservation measures including regular review of energy conservation, consumption and effective control on utilisation of energy. As a responsible citizen, the staff members, Managers & Managment of your company commits to Promote Greenery, save water, save energy , minimise wastage & encourage recyclling.

QUALITY POLICY AND CERTIFICATION :

The company is committed to provide consistent good quality products to its worldwide customers and to achieve the world class quality in the products manufactured. Every employee is involved in ensuring quality of products at all times. Management on its part is fully committed to further improve quality and provides all the sources to accomplish this task. The Company is Certified for ISO 9001:2000 .

DEVELOPMENT IN HUMAN RESOURCE:

Sound Human resources development policies of the company ensures that each employee as an individual and contributes to the performance of the company, regular in house training programs for all employees help in this objective.

Employees are the most valuable asset of the company. Your Company strongly recommends that employees are the key pillar in our success it is our belief that employees have to be given the right environment for their talents to bloom and they need to be nurtured as one of our most important assets. Our constant endeavor has therefore being to provide them with an enabling atmosphere where they are motivated to deliver their best. Initiatives have been taken to become a performance driven organization by retaining and developing leadership potential. The company is committed to continuously improve safety and health of employees.

CAUTIONARY NOTE

Certain statements in the management discussions and analysis section may be forward looking and are stated as required by applicable laws and regulations, may affect the actual results, which would be different from directors report and sales in terms of future performance and outlook.

FIXED DEPOSIT/PUBLIC DEPOSITS

The Company has not accepted any Fixed Deposits U/s 58A of the Companies Act during the year under Review.

AUDITORS

M/s Bhasin Raghavan & Co., Chartered Accountants, New Delhi, Auditors of the Company, retires at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

AUDITORS REPORT

The observations of the Auditors contained in the Auditors Report, read with Notes on Accounts are self explanatory and do not call for any further clarifications.

ACKNOWLEDGEMENT

The Board of Directors wish to place on record their gratitude to the shareholders, State & Central Goverment authorities, vendors, bankers, customers and other business associates for their support and co-operation extended to the company.

Your Directors place on record their deep appreciation for exemplary contribution of the employees at all levels.

Their dedicated efforts and enthusiasm has been integral to your Companys impressive growth.

For and on Behalf of the Board of Directors For Jagan Lamps Ltd. sd/- Dated : 31/07/2010 (S.P. Aggarwal)

Place : Kundli Managing Director



 
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