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Directors Report of Kanika Infrastructure & Power Ltd.

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

 
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