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Directors Report of JMT Auto Ltd.

Mar 31, 2013

Dear Shareholders,

The Directors have immense pleasure in presenting their 26th Annual Report along with the Audited Results of the company for the year ended 31st March, 2013.

OPERATING AND FINANCIAL REVIEW (Rs in Lacs)

PARTICUALRS Year ended Year ended 31.03.2013 31.03.2012

Gross Turnover 33502.33 39252.44

Earnings before Interest, Tax & Depreciation and Amortization (EBITDA) 5601.00 6344.60

Finance Cost 1906.50 2035.17

Depreciation 2162.67 1955.71

Tax Expenses 329.75 745.27

Net Profit After Tax 1202.08 1608.45

DIVIDEND

The Board has recommended a dividend @ 5.0% (Re 0.50 per share) for the year ended 31st March, 2013 keeping in view the moderate profit of the Company subject to the approval of the shareholders at the Annual General Meeting.

The dividend will be paid to members whose names appear in the Register of Members as on 16th July, 2013; in respect of shares held in dematerialized form, it will be paid to members whose names are furnished by National Securities Depository Limited and Central Depository Services (India) Limited, as beneficial owners.

The dividend payout for the year under review has been formulated in accordance with the Company''s policy to pay sustainable dividend linked to long term growth objectives of the Company to be met by internal cash accruals and the shareholders aspirations.

RESERVE AND SURPLUS

Reserves and surplus of the Company increased from Rs. 11674.87 lakhs in 2011-12 to Rs. 12802.37 lakhs in 2012-13. The Company has a Net worth of Rs.14241.89 as on 31st March, 2013 in comparison to Rs. 13114.39 as on 31st March, 2012.

STOCK EXCHANGE REQUIREMENTS

The Equity shares of the Company are being traded at Bombay Stock Exchange, Phiroze Jeejebhoy Towers, Dalal Street, Mumbai and at National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai.

CREDIT RATING

In order to comply with BASEL - II Guidelines your Company has got the rating done by M/s ICRA LIMITED.

CREDIT RATING AGENCY LONG TERM/ MEDIUM TERM SHORT TERM BANK FACILITIES BANK FACILITIES

ICRA [ICRA] BBB/Stable [ICRA]A3

FIXED DEPOSITS

As in the previous year your Company has not accepted any Fixed Deposits within the meaning of Section 58A of the Companies Act, 1956 from the Shareholders / Public during the year under review.

ENVIRONMENT PROTECTION AND POLLUTION CONTROL

As required by Pollution control laws, the Company has already submitted Environmental Statement for the FY 2012- 13 to the State Pollution Control Board.

The Company maintaining its commitment towards according priority to Environment, Occupational Health and Safety has decided to develop the industrial culture as per norms of ISO 14001/2004 and OHSAS 18001/2009, which is totally focused on environment.

- Management has planted 50 plants this year in and around the various work units.

- 3 machines for oil separation from scrap boring have been installed.

- Turbo Ventilator which runs without power has been installed.

- Waste water management and Rain water harvesting systems are in place.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the Directors hereby confirm:

1. That in the preparation of Annual Accounts, the applicable Accounting Standards have been followed and there has been no material departure.

2. That the selected accounting policies were applied consistently and the directors 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 as at 31st March, 2013 and of the profits for the year ended on that date.

3. That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. That the annual accounts have been prepared on a going concern basis.

DIRECTORS

Mr. Sanjay Kukreja, Director of the company, who retires by rotation and being eligible, offers himself for reappointment at the ensuing Annual General Meeting.

Mr. Harjinder Singh, presently holding the office of Additional Director (Finance & Administration) cum CFO of the company, has been proposed by one of the members, to be appointed as Director, subject to approval of the shareholders at the forthcoming Annual General Meeting.

None of the Directors are disqualified for being appointed as the Directors as specified in Section 274(1)(g) of the Companies Act, 1956.

AUDITORS

M/s. Deloitte Haskins & Sells, Statutory Auditors of the company will retire at the ensuing Annual General meeting of the Company and are eligible for re-appointment. Shareholders are requested to re-appoint the auditors.

The Company has received letters from them to the effect that their re-appointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956 and that they are not disqualified for re-appointment within the meaning of Section 226 of the said Act.

The Notes forming part of the Financial Statements are self-explanatory and do not call for any further comments.

CORPORATE GOVERNANCE

The Company is committed to maintain high standards of Corporate Governance and adhere to the Corporate Governance requirements set out by SEBI. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The requisite Certificate from the Auditors of the Company confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49 is attached to this Report.

RELATED PARTIES

Note No. 36 to the Notes to Financial Statement of the Accounts sets out the nature of transactions with the related parties. Transactions with the Related Parties are carried out at the arm''s length. The details of such transactions are placed before the Audit Committee.

CORPORATE SOCIAL RESPONSIBILITY

Maintaining the spirit of giving back to the society the Company has contributed to many philanthropic activities like numerous blood donation camps in collaboration with the Red Cross Society, donating money and clothes to the poor and needy, spreading education among the low privileged section of the society, planting trees across all its units.

ENVIRONMENT, HEALTH AND SAFETY

The Company has made significant efforts towards conservation of environment, by proposing to set up its new Automated Press Forging Plant. This is a green initiative taken up by the Company, since the proposed plant will consume less power and emanate negligible heat. The Automated Press Forging is done at ambient temperature and because of their extreme dimensional precision and fine surface finish they often need little or no further machining. This will considerably reduce the environmental impact and enhance the productivity of the Company''s forging unit.

Other eco-friendly initiatives undertaken by the Company include planting more trees in and around the Work units, creating new gardens, Rain Water Harvesting, usage of transparent sheets for natural sunlight inside the plant, use of turbo ventilators for ventilation purpose and for minimizing the carbon footprints, use of propane gas in the heat treatment plants for reducing the carbon emissions, minimizing effluents through better monitoring and corrective measures, reduction of quantum of input material, whether it is steel, or usage of inert gases for welding through Value Analysis/Value Engineering activities.

All statutory safety norms are diligently followed by the Company. Safety is accorded prime importance in the organization. Each plant has Safety Committee to oversee the safety of the workforce through ensuring safe working conditions and well informed and duly trained workers. Safety audits and evacuation drills are conducted regularly and all staff members are encouraged to take part in the same. Training for the awareness of the employees are conducted at regular intervals.

Company has a personal Accident Insurance Policy (group) for ensuring welfare and security to the employees and their families.

DISCLOSURES UNDER SECTION 217 OF THE COMPANIES ACT, 1956

Except, as disclosed elsewhere in the Report, there have been no material changes and commitments, which can affect the financial position of the Company between the end of the financial year and the date of report.

As required under Section 217(2) of the Companies Act, 1956, the Board of Directors informs the shareholders that during the period under review, no changes have occurred in the nature of the Company''s business or in the nature of the business carried on by them and generally in the classes of business in which the Company has an interest.

Information in accordance with the provisions of section 217 (2A) of the Companies Act,1956, read with Companies (Particulars of Employees) Rules, 1975, as amended, regarding employees is as under:

None of the employees fall within the category mentioned in section 217 (2A) of the Companies Act, 1956.

COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988

The relevant data regarding the above is given in the Annexure-I hereto and forms part of this report.

EMPLOYEE STOCK OPTIONS

Pursuant to the provisions of the Securities and Exchange Board of India (Employees Stock Option Scheme and Employees Stock Purchase Scheme) Guidelines, 1999, as amended from time to time, the details of stock options as on March 31, 2013 under the "JMT ESOP Plan- 2012" are set out as Annexure-II to this Report.

MANAGEMENT DISCUSSION & ANALYSIS

A detailed review of operations, performance and future outlook of the Company is given separately as Annexure-III, under the head "Management Discussion and Analysis Report" and forms a part of this report.

ACKNOWLEDGEMENTS

The Board of Directors place on record their gratitude for the co-operation, patronage and support received from Financial Institutions, Bankers, Government Bodies and employees at all levels.

For and on behalf of the Board of Directors

Place: Jamshedpur Rajeev Singh Dugal

Date: 24.05.2013 Chairman-cum-Managing Director


Mar 31, 2012

The Directors have immense pleasure in presenting their 25th Annual Report along with the Audited Results of the company for the year ended 31st March, 2012.

OPERATING AND FINANCIAL REVIEW (Rs in lakhs.)

PARTICUALRS Year ended Year ended 31.03.2012 31.03.2011

Gross Turnover 39,252.44 31,574.10

Earnings before Interest, Depreciation & Tax and amortization (EBITDA) 6,344.60 5,021.28

Finance Cost 2,035.17 1,749.69

Depreciation 1,955.71 1,817.90

Tax Expenses 745.27 471.89

Net Profit After Tax 1,608.45 981.80

DIVIDEND

The Board has recommended a dividend @ 10.0% (Re 1.00 per share) for the year ended 31st March 2012 in tune to the increased profit of the Company subject to the approval of the shareholders at the Annual General Meeting.

The dividend will be paid to members whose names appear in the Register of Members as on July 2,2012; in respect of shares held in dematerialized form, it will be paid to members whose names are furnished by National Securities Depository Limited and Central Depository Services (India) Limited, as beneficial owners.

The dividend payout for the year under review has been formulated in accordance with the Company's policy to pay sustainable dividend linked to long term growth objectives of the Company to be met by internal cash accruals and the shareholders aspirations.

RESERVE AND SURPLUS

Reserves and surplus of the Company increased from Rs.10233.71 lakhs in 2010-11 to Rs. 11674.87 lakhs in the 2011-12. The Company has a Net worth of Rs.13114.39 as on 31st March, 2012 in comparison to Rs. 11673.23 as on 31st March, 2011.

STOCK EXCHANGE REQUIREMENTS

The Equity shares of the Company are being traded at Bombay Stock Exchange, Phiroze Jeejebhoy Towers, Dalal Street, Mumbai and at National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai.

CREDIT RATING

In order to comply with BASEL - II Guidelines your Company has got the rating done by M/s CRISIL LIMITED.

CREDIT RATING AGENCY LONG TERM/ MEDIUM TERM SHORT TERM BANK FACILITIES BANK FACILITIES

CRISIL CRISIL BBB/Stable CRISIL A3

FIXED DEPOSITS

As in the previous year your Company has not accepted any Fixed Deposits within the meaning of Section 58A of the Companies Act, 1956 from the Shareholders / Public during the year under review.

ENVIRONMENT PROTECTION AND POLLUTION CONTROL

As required by Pollution control laws, the Company has already submitted Environmental Statement for the Fy 2011-12 to the State Pollution Control Board.

The Company continues to accord priority to Environment, Occupational Health and Safety with a commitment to achieve and sustain the highest international standards by keeping emission level as low as possible.

WASTE WATER MANAGEMENT

The Company has taken all possible steps towards implementation of Rain Water Harvesting System Implementation and Waste Management Services working in tandem with Aquakraft Water Solutions.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the Directors hereby confirm:

1. That in the preparation of Annual Accounts, the applicable Accounting Standards have been followed and there has been no material departure.

2. That the selected accounting policies were applied consistently and the directors 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 as at 31st March, 2012 and of the profits for the year ended on that date.

3. That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. That the annual accounts have been prepared on a going concern basis.

DIRECTORS

Shri Malkeet Singh Saini, Director of the company, who retires by rotation and being eligible, offer himself for reappointment at the ensuing Annual General Meeting.

None of the Directors are disqualified for being appointed as the Directors as specified in Section 274(1)(g) of the Companies Act, 1956.

AUDITORS

M/s. Deloitte Haskins & Sells, Statutory Auditors of the company will retire at the ensuing Annual General meeting of the Company and are eligible for re-appointment. Shareholders are requested to re-appoint the auditors.

The Company has received letters from them to the effect that their reappointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956 and that they are not disqualified for reappointment within the meaning of Section 226 of the said Act.

The Notes on Accounts referred to in the Auditors Report are self-explanatory and do not call for any further comments.

COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988

The relevant data regarding the above is given in the Annexure-I hereto and forms part of this report.

EMPLOYEES

None of the employees fall within the category mentioned in section 217 (2A) of the Companies Act, 1956.

CORPORATE GOVERNANCE

The Company is committed to maintain high standards of Corporate Governance and adhere to the Corporate Governance requirements set out by SEBI. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The requisite Certificate from the Auditors of the Company confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is attached to this Report.

RELATED PARTIES

Note No. 35 to the Notes to Financial Statement of the Accounts sets out the nature of transactions with the related parties. Transactions with the Related Parties are carried out at the arm's length. The details of such transactions are placed before the Audit Committee.

CORPORATE SOCIAL RESPONSIBILITY

In terms of societal and environmental contribution, the Company has contributed to many philanthropic activities like free eye check up camps, donating money and clothes to the poor and needy, blood Donation camps, spreading education among the low privileged section of the society planting trees across all its units and developing new gardens at its working sites. The Company also contributes financially to mitigate the hardships by providing material help to the orphanages. The Company trains employable local youth and provides training to them under earn and learn scheme.

ENVIRONMENT, HEALTH AND SAFETY

In terms of its responsibility towards environment, the initiatives undertaken by the Company include planting of trees in the vacant land of the plants, creating new gardens, Rain Water Harvesting, usage of transparent sheets for natural sunlight inside the plant, use of turbo ventilators for ventilation purpose and for minimizing the carbon footprints, use of propane gas in the heat treatment plants for reducing the carbon emissions, minimizing effluents through better monitoring and corrective measures, reduction of quantum of input material, whether it is steel, or usage of inert gases for welding through Value Analysis/Value Engineering activities.

The Company follows all statutory safety norms. Safety is accorded prime importance in the organization. The Company has the Safety committee in each plant, which oversees the workforce's safety, through ensuring safe conditions and actions. Safety audits and evacuation drills are conducted regularly and all staff members are encouraged to take part in the same and regular training for the awareness of the employees.

Your Company has a personal Accident Insurance Policy (group) for ensuring welfare and security to the employees and their families.

OTHERS

Your Directors wish to inform that during the Financial Year 2011-12 in the month of May 2011 a Search & Seizure was conducted by Income tax department . As on date the assessment order is still pending and the case is under process.

ACKNOWLEDGEMENTS

The Board of Directors place on record their gratitude for the co-operation, patronage and support received from Financial Institutions, Bankers, Government Bodies and employees at all levels.



For and on behalf of the Board of Directors

Place : Kolkata Rajeev Singh Dugal

Date : 25.05.2012 Managing Director


Mar 31, 2011

Dear Members,

The Directors have immense pleasure in presenting their Twenty Fourth Annual Report along with the Audited Results of the company for the year ended 31st March, 2011.

OPERATING AND FINANCIAL REVIEW (Rs. in lakhs.)

PARTICUALRS Year ended Year ended

31.03.2011 31.03.2010

Gross Turnover 32720.62 21486.63

Earnings before Interest, Depreciation & Tax and amortization ( EBITDA) 5132.21 4062.75

Interest and financial charges 1860.61 1795.67

Depreciation 1817.90 1586.85

Provision for Taxation 471.89 326.97

Net Profit After Tax 981.81 353.26

Profit/(Loss) Brought forward from Previous Year 3514.46 3203.31

Profit available for appropriation as under: 4496.27 3556.57

Dividend on Equity Shares 71.98 35.99

Corporate Tax on Dividend 12.23 6.12

Surplus carried to Balance Sheet 4412.06 3514.46

DIVIDEND

The Board has recommended a dividend @ 5.0% (Rs. 0.50 per share) for the year ended 31st March, 2011 in tune to the increased profit of the Company subject to the approval of the shareholders at the Annual General Meeting.

The dividend will be paid to members whose names appear in the Register of Members as on July 14,2011; in respect of shares held in dematerialized form, it will be paid to members whose names are furnished by National Securities Depository Limited and Central Depository Services (India) Limited, as beneficial owners.

The dividend payout for the year under review has been formulated in accordance with the Company's policy to pay sustainable dividend linked to long term growth objectives of the Company to be met by internal cash accruals and the shareholders aspirations.

RESERVE AND SURPLUS

Reserves and surplus of the Company increased from Rs. 8836.11 lakhs in 2009-10 toRs. 10233.21 lakhs in the 2010-11. The Company has a Net worth ofRs. 11673.23 as on 31st March, 2011 in comparison to Rs. 10,275.63 as on 31st March, 2010.

STOCK EXCHANGE REQUIREMENTS

The Equity shares of the Company are being traded at Bombay Stock Exchange, Phiroze Jeejebhoy Towers, Dalal Street, Mumbai and at National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai.

CREDIT RATING

In order to comply with BASEL - II Guidelines your Company has got the rating done by M/s Credit Analysis & Research Ltd. (CARE).

CREDIT RATING AGENCY LONG TERM/ MEDIUM TERM SHORT TERM BANK FACILITIES BANK FACILITIES

CARE CARE BBB PR3

FIXED DEPOSITS

As in the previous year your Company has not accepted any Fixed Deposits within the meaning of Section 58A of the Companies Act, 1956 from the Shareholders / Public during the year under review.

ENVIRONMENT PROTECTION AND POLLUTION CONTROL

As required by Pollution control laws, the Company has already submitted Environmental Statement for the Fy 2010-11 to the State Pollution Control Board.

The Company continues to accord priority to Environment, Occupational Health and Safety with a commitment to achieve and sustain the highest international standards by keeping emission level as low as possible.

WASTE WATER MANAGEMENT

The Company has taken all possible steps towards implementation of Rain Water Harvesting System Implementation and Waste Management Services working in tandem with Aquakraft Water Solutions.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the Directors hereby confirm:

1. That in the preparation of Annual Accounts, the applicable Accounting Standards have been followed and there has been no material departure.

2. That the selected accounting policies were applied consistently and the directors 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 as at 31st March, 2011 and of the profits for the year ended on that date.

3. That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. That the annual accounts have been prepared on a going concern basis.

DIRECTORS

Mr. Sushil Kumar Khowala, Director of the Company, who retires by rotation and being eligible, offer himself for re- appointment at the ensuing Annual General Meeting.

None of the Directors are disqualified for being appointed as the Directors as specified in Section 274(1)(g) of the Companies Act, 1956.

AUDITORS

M/s. Deloitte Haskins & Sells, Statutory Auditors of the company will retire at the ensuing Annual General meeting of the Company and are eligible for re-appointment. Shareholders are requested to re-appoint the auditors.

The Company has received a letter from them to the effect that their reappointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956 and that they are not disqualified for reappointment within the meaning of Section 226 of the said Act.

The Notes on Accounts referred to in the Auditors Report are self-explanatory and do not call for any further comments.

SECRETARIAL AUDIT REPORT

As a measure of good corporate governance practice, the Board of Directors of the Company appointed Mr. Mohan Ram Goenka, Practicing Company Secretary, to conduct Secretarial Audit of records and documents of the Company.

The Secretarial Audit Report confirms that the Company has complied with all the applicable provisions of the Companies Act, 1956, Depositories Act, 1996, Listing Agreements with the Stock Exchanges, Securities Contracts (Regulation) Act, 1956 and all the Regulations and Guidelines of SEBI as applicable to the Company, including the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992.

COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988

The relevant data regarding the above is given in the Annexure-I hereto and forms part of this report.

EMPLOYEES

None of the employees fall within the category mentioned in section 217 (2A) of the Companies Act, 1956.

CORPORATE GOVERNANCE

The Company is committed to maintain high standards of Corporate Governance and adhere to the Corporate Governance requirements set out by SEBI. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The requisite Certificate from the Auditors of the Company confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is attached to this Report.

RELATED PARTIES

Part B (xvii)(b) of Schedule U of the Accounts sets out the nature of transactions with the related parties. Transactions with the Related Parties are carried out at the arm's length. The details of such transactions are placed before the Audit Committee.

CORPORATE SOCIAL RESPONSIBILITY

In terms of societal and environmental contribution, the company has contributed to many philanthropic activities like free eye check up camps, donating money and clothes to the poor and needy, blood Donation camps, spreading education among the low privileged section of the society, planting trees across all its units and developing new gardens at its working sites. The company also contributes financially to mitigate the hardships by providing material help to orphanages. The company trains employable local youth and provides training to them under earn and learn scheme.

ENVIRONMENT, HEALTH AND SAFETY

In terms of its responsibility towards environment, the initiatives undertaken by the company include planting of trees in the vacant land of the plants, creating new gardens, Rain Water Harvesting, usage of transparent sheets for natural sunlight inside the plant, use of turbo ventilators for ventilation purpose and for minimizing the carbon footprints, use of propane gas in the heat treatment plants for reducing the carbon emissions, minimizing effluents through better

monitoring and corrective measures, reduction of quantum of input material, whether it is steel, or usage of inert gases for welding through Value Analysis/Value Engineering activities.

The company follows all statutory and safety norms. Safety is accorded prime importance in the organization. The company has the safety committee in each plant, which oversees the workforce's safety, through ensuring safe conditions and actions. Safety audits and evacuation drills are conducted regularly and all staff members are encouraged to take part in the same and regular training for the awareness of the employees.

Your company has a personal Accident Insurance Policy (group) for ensuring welfare and security to the employees and their families.

ACKNOWLEDGEMENTS

The Board of Directors place on record their gratitude for the co-operation, patronage and support received from Financial Institutions, Bankers, Government Bodies and Employees at all levels.

For and on behalf of the Board of Directors

Place : Kolkata Rajeev Singh Dugal

Date : 28 .05.2011 Managing Director


Mar 31, 2010

The Directors have immense pleasure in presenting their Twenty Third Annual Report along with the Audited Results of the company for the year ended 31st March, 2010.

(Rs. in Lacs)

Particulars Year ended Year ended

31.03.2010 31.03.2009

Gross Turnover 21486.63 21573.50

Earning before Interest,

Depreciation & Tax and Amortization

(EBITDA) 4014.24 4020.40

Interest and financial charges 1747.16 1723.32

Depreciation 1586.85 1603.00

Provision for Taxation 326.97 347.74

Net Profit After Tax 353.26 346.34

Profit/(Loss) Brought forward from

Previous Year 3203.31 2873.82

Profit available for appropriation

as under: 3556.57 3220.16

Dividend on Equity Shares 35.99 14.40

Corporate Tax on Dividend 6.12 2.45

Transfer to General Reserve - -

Surplus carried to Balance Sheet 3514.46 3203.31

STOCK EXCHANGE REQUIREMENTS

The Equity shares of the Company are being traded at BSE and NSE

CREDIT RATING

CREDIT RATING AGENCY LONG TERM/ MEDIUM SHORT TERM

TERM BANK FACILITIES BANK FACILITIES

CARE CARE BBB - PR3

FIXED DEPOSITS

As in the previous year your Company has not received any Fixed Deposits from the Shareholders / Public during the year under review.

ENVIRONMENT PROTECTION AND POLLUTION CONTROL

As required by Pollution control laws, the Company has already submitted Environmental Statement for the Year 2009-10 to the State Pollution Control Board.

The Company continues to accord priority to Environment, Occupational Health and Safety with a commitment to achieve and sustain the highest international standards by keeping emission level as low as possible.

Waste Water Management

The Company has taken all possible steps towards implementation of Rain Water Harvesting System and Waste Management Services working in tandem with Aquakraft Water Solutions.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the Directors hereby confirm that:

1. that in preparation of Annual Accounts, the applicable Accounting Standards have been followed and there has been no material departure.

2. that the selected accounting policies were applied consistently and the directors 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 as at 31st March, 2010 and of the profits for the year ended on that date.

3. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. That the annual accounts have been prepared on a going concern basis.

AUDITORS

M/s. Deloitte Haskins & Sells, Statutory Auditors of the company will retire at the ensuing Annual General meeting of the Company and are eligible for re-appointment. Shareholders are requested to re-appoint the auditors.

COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988

The relevant data regarding the above is given in the Annexure-I hereto and forms part of this report.

EMPLOYEES

None of the employees fall within the category mentioned in section 217(1A) of the Companies Act, 1956.

ACKNOWLEDGEMENTS

The Board of Directors place on record their gratitude for the co-operation, patronage and support received from Financial Institutions, Bankers, Government Bodies and employees at all levels.



For and on behalf of the Board of Directors



Place: Kolkata Rajeev Singh Dugal

Date: 29.05.2010 Chairman & Managing Director

 
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