Mar 31, 2013
Dear Members,
The Directors have the pleasure in presenting before you this 18th
Annual Report for the year ended 31st March, 2013 :
FINANCIAL RESULTS 2012-2013 2011-2012
(Rs. in Lakhs) (Rs. in Lakhs)
a) Profit Before
Depreciation & Interest 35.38 36.09
b) Less : Depreciation 30.59 31.34
c) Earnings before
interest & tax (EB1T) 4.78 4.75
d) Profit Before Tax
& Adjustments 4.78 4.75
e) Profit Before Tax (PBT) 4.78 4.75
f) Provision for Income Tax 0.91 1.26
Deferred Tax Assets /
(Liability) 0.62 0.20
g) Profit After Tax (PAT) 3.25 3.28
h) Less : Paid for I.Tax
for earlier year - 0.45
i) Profit/(Loss) brought
forward from Previous year 91.99 89.16
j) Balance Profit carried forward 95.23 91.99
INDUSTRY STRUCTURE & DEVELOPMENT/OPERATIONS
The Company has minimized its Software Development Division, as the
Company has not received any Export order for the year under review. .
The Company is mainly emphasizing on its infrastructural activities as
the Govt, of India continue to give thrust on infrastructure sector and
expected to grow much faster.
DIVIDEND .
The Company has not declared dividend for the current year, in wake of
insufficient profit.
LISTING
The Company''s shares are listed at Bombay Stock Exchange only. The
listing fee has been paid to the Bombay Stock Exchange Ltd. till
2013-14.
RESPONSIBILITY STATEMENT The Directors'' confirm :
a) that in the preparation of the annual accounts, the applicable
accounting standards have been followed and that no material departures
have been made from the same;
b) that they 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) that to the best of their knowledge and information, they have 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 the Company and for preventing and
detecting fraud and other irregularities; and
d) that the annual accounts have been prepared on a going concern
basis.
SUBSIDIARIES COMPANY
Statement u/s 212 of the Companies Act, 1956 regarding subsidiary
companies is attached and forms part of the report.
CORPORATE GOVERNANCE
A separate report on Corporate Governance along with Auditor''s
certificate on its compliance is attached to this report.
DIRECTORS ,
Mr.Kripa Sindhu Mallick retire by rotation and being eligible offer
himself for re-appointment. Your Directors place on record valuable
services rendered by him, during his tenure as Director. Mr.Bimal Das
who were appointed as additional directors and whose tenure ceases at
the forthcoming Annual General Meeting of the Company have expressed
their willingness to continue as directors of the Company. The Company
has also received notices under Section 257 of the Companies Act, 1956
from the members proposing their names for the directorship of the
Company. The directors propose their appointment for your approval.
Mr.Shyam Sundar Mall, Chairman died on 19.04.2013 and the board deeply
mourns the same and pray to the almighty for the peace of the departed
soul. '' ,
PARTICULARS OF EMPLOYEES
There are no employees falling under Section 217(2A) of the Companies
Act, 1956 read with Companies (Particulars of Employees) Rules, 1975,
who are in receipt of remuneration for the year aggregating more than
Rs. 5,00,000/- per month of Rs. 60,00,000/- per annum.
ENERGY CONSERVATION. TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNING &
OUTGO
Information pursuant to Clause (a) of Sub-Section (1) of Section 217 of
the Companies Act, 1956 read with Companies (Disclosures of Particulars
in the Report of Board of Directors) Rules, 1988 is appended to and
forms part of this report. ~
DEPOSIT .
The Company has not accepted any deposit from the public u/s 58A & 58AA
of the Companies Act, 1956.
AUDITORS
M/s. Lahoti & Co., Chartered Accountants, retires at the ensuing Annual
General Meeting and being eligible offers themselves for re-appointment.
AUDITORS OBSERVATIONS
Auditors'' observations are duly dealt in Notes to Accounts and are
self-explanatory.
APPRECIATION
The Directors sincerely appreciate the high degree of professionalism,
enthusiasm and hard work displayed by all employees during the year.
The Directors also place on record their gratitude to the Members for
their continued support.
On behalf of the Board
Place : Kolkata KRIPA SINDHU MALLICK
Dated : The 2nd day of August, 2013 Chairman
Mar 31, 2010
Dear Members,
The Directors have the pleasure in presenting before you this 15th
Annual Report for the year ended 31st March, 2010 :
FINANCIAL. RESULTS 2009-2010 2008-2009
(Rs. in Lakhs) (Rs. in Lakhs)
a) Profit Before
Depreciation & Interest 33.85 41.91
b) Less : Depreciation 30.32 29.78
c) Earnings before
interest & tax (EBIT) 3.53 12.13
d) Profit Before Tax &
Adjustments 3.53 12.13
e) Profit Before Tax (PBT) 3.53 12.13
f) Provision for Income Tax 0.93 1.96
Deferred Tax Assets /
(Liability) (0.16) (1.79)
g) Profit After Tax (PAT) 2.44 8.38
h) Add : Provision for Tax for
earlier year w/back - 13.74
i) Profit/(Loss) brought forward 83.90 61.78
from Previous year
j) Balance Profit carried forward 86.34 83.90
FINANCIAL HIGHLIGHTS
The year under review recorded a moderate growth in sales in comparison
with that of last year but the earning was marginally lower due to
global slowdown. The Company during the year-ended under review has
posted profit of Rs. 2.44 lacs as against profit of Rs. 8.38 lacs of
last year.
DIVIDEND
The Company has not declared dividend for the current year, jn wake of
insufficient profit.
INDUSTRY STRUCTURE & DEVELOPMENT/OPERATIONS
The Company has minimized its Software Development Division, as the
Company has not received any Export order for the year under review.
The Company is mainly emphasizing on its infrastructural activities as
the Govt, of India continue to give thrust on infrastructure sector and
expected to grow much faster.
LISTING
The Company's shares are listed at Bombay Stock Exchange only. The
listing fee has been paid to the Bombay Stock Exchange Ltd. till
2010-11.
RESPONSIBILITY STATEMENT
The Directors' confirm :
a) that in the preparation of the annual accounts, the applicable
accounting standards have been followed and that no material departures
have been made from the same;
b) that they 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) that to the best of their knowledge and information, they have
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 the Company and for preventing
and detecting fraud and other irregularities; and
d) that the annual accounts have been prepared on a going concern
basis.
CORPORATE GOVERNANCE
A separate report on Corporate Governance along with Auditor's
certificate on its compliance is attached to this report.
DIRECTORS
Mr. S. S. Mall retires by rotation and being eligible offer himself for
re-appointment. Mr. Rajesh Gulgulia resigned on 05-07-2010. Your
Directors place on record valuable services rendered by him during his
tenure as director. Mr.Samir Kanti Biswas who was appointed as an
additional Director and whose tenure ceases at the forth coming Annual
General Meeting of the Company have expressed his willingness to
continue as Director of the Company. The Company has also received a
notice under Section 257 of the Companies Act, 1956 from a member
proposing his name for the directorship of the Company. The directors
propose his appointment for your approval.
PARTICULARS OF EMPLOYEES
There are no employees falling under Section 217(2A) of the Companies
Act, 1956 read with Companies (Particulars of Employees) Rules, 1975,
who are in receipt of remuneration for the year aggregating more than
Rs. 2,00,0007- per month of Rs. 24,00,000/- per annum.
ENERGY CONSERVATION. TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNING &
OUTGO
Information pursuant to Clause (a) of Sub-Section (1) of Section
217 of the Companies Act, 1956 read with Companies (Disclosures of
Particulars in the Report of Board of Directors) Rules, 1988 is
appended to and forms part of this report.
AUDITORS
M/s. Lahoti & Co., Chartered Accountants, retires at the ensuing Annual
General Meeting and being eligible offers themselves for
re-appointment.
APPRECIATION
The Directors sincerely appreciate the high degree of professionalism,
enthusiasm and hard work displayed by all employees during the year.
The Directors also place on record their gratitude to the Members for
their continued support.
On behalf.of the Board
SHYAM SUNDAR MALL
Chairman
Place : Kolkata
Dated : 31st day of July, 2010