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Directors Report of Kilpest India Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting their Forty Third Annual Report, together with the Audited Accounts for the year ended 31st March, 2015 as follows:

FINANCIAL RESULTS

The highlights of the operating results for the year are summarized below: -

(Rs. in Lakhs)

Year ended Year ended 31-03-2015 31-03-2014

Sales Turnover (Less : Excise) 1791.41 2098.79

Profit before Depreciation 56.05 66.71 Less: Depreciation 27.64 22.84 Profit before Tax 28.42 43.87

Less: Provision for Taxation 6,14 6.14 Net Profit after Tax 22.28 37.73

PERFORMANCE FOR THE YEAR 2014-2015

This year due to less than average rainfall and falling agri-commodity prices the sales were lower at 19.5 8 Crs, as compared to 23.24 Crs, and likewise the PBT at28.42 lacs Vs 43.87 lacs.

To ward off the risk of monsoon and dropping agri-products prices company has been increasing efforts on Exports and the result will be seen in future.

The Export registrations are being undertaken in Egypt, Sudan apart from increasing customer base in Bangladesh. These efforts shall show result in current year. Company is also increasing its market area in other States apart from its main stay at Central India.

The JV is scaling up well, it' sabitslow initially, as it is very strongly R&D driven, however the JV has made a wide range of diagnostic kits ranging from infectious diseases to oncology, which are being accepted by big names customers in diagnostic market. In times to come this J V would become a market leader in the molecular diagnostic sector. And these collective efforts will improve company's top line and bottom line in coming times.

CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Stock Exchange Listing Agreement, a report on Corporate Governance and Management Discussion and Analysis and Certificate from the Auditors on compliance thereof is given separately which form a part of this Report.

DIRECTORS' RESPONSIBILITYSTATEMENT

The Directors confirm that:

i) The company has followed the applicable accounting standards in the preparation of the Annual Account for the year under review.

ii) The Directors have made judgments and estimates that are reasonable and prudent and have selected accounting policies and applied them consistently to give true and fair view of the state of affairs of the company as at 31st March, 2015 and its profit for the year ended on that date.

in) The company has a proper and adequate system of internal control to en sure that all assets are safeguarded against losses and the system is capable of detecting frauds and other irregularities.

i v) The annual accounts placed before you have been prepared on a going concern basis.

DIVIDEND

Due to inadequate profit, your Directors regret their inability to recommend any Dividend for the year.

CURRENT LISTING

Presently, the Equity Shares of the company are listed on the Bombay Stock Exchange Ltd, Mumbai.

DIRECTORS

Shri D. K. Dubey & Shri N. K. Dubey retire by rotation at the forthcoming Annual General Meeting and are eligible for reappointment,

AUDITORS

M/s R.C.Baheti & Co. Chartered Accountants, retire at the ensuing Annual General Meeting and are eligible for reappointment.

COMPANY SECRETARY

As per the Companies (Amendment) Act, 2000, it is required, in case of your company, to obtain a certificate from a Company Secretary in whole-time practice regarding compliance of various secretarial matters as the paid-up capital of the company is more than Rs. 10 lacs. Accordingly, the company has appointed M/s P. K. Rai & Associates, Practicing Company Secretary as a Secretarial Auditor. The Secretarial Audit Report given by M/s P.K. Rai & Associates, Bbopal is attached herewith which forms part of this report. The company had initiated the process of appointing a full time Company Secretary, and is looking for one.

PERSONNEL

Personnel relations remained cordial during the year. The Board expresses its appreciation of the contribution of employees at all levels. There is no employee drawing remuneration in excess of the limits prescribed under section 134 of the Companies Act, 2013.

SAFETY AND ENVIRONMENT

The company has installed adequate systems for industrial safety, environmental protection and pollution control. Necessary facilities at Company's plant are installed to meet the standards set by Pollution Control Authorities and Industrial Health & Safety Department. Company is having valid permissions from the above authorities. Company is also a member of Common Effluent Treatment Plant-commissioned by Central and State Pollution Control Board.

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

A statement showing additional information on conservation of energy, technology absorption, foreign exchange earnings and outgo as required pursuant to Section 134 of the Companies Act, 2013 read with the companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is annexed forming part of this Report.

ACKNOWLEDGEMENTS

The Directors take this opportunity to thank the shareholders, Distributors, die Bankers M/s STATE BANK OF INDIA, Relationship Manager RMME, Sales Hub, BHOPAL for their support and co-operation.

For and on behalf of the Board of Directors

Place: Bhopal R.K. DUB EY

Dated: 29th May, 2015 CHAIRMAN & MANAGING DIRECTOR


Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting their Forty Second Annual Report, together with the Audited Accounts for the year ended 31st March, 2014 as follows:

FINANCIAL RESULTS

The highlights of the operating results for the year are summarized below:-

(Rs. in Lakhs) Year ended Year ended 31-03-2014 31-03-2013

Sales Turnover 2098.79 1955.57

Profit before Depreciation 66.71 97.41

Less: Depreciation 22.84 21.55

Profit before Tax 43.87 75.85

Less: Provision for Taxation 6.14 19.20

Net Profit after Tax 37.73 56.65

PERFORMANCE FOR THE YEAR 2013-2014

Although the top line sales grew by 7%, but the bottom line was adversely affected as the extensive expenses incurred on marketing efforts could not be fully reduced due to bad effect of incessant rains, which continued till March, which not only affected the Kharif Crop yield, but also damaged the Rabi crops.

Company to reduce its dependency on local markets highly vulnerable to monsoon, has been focusing on exports markets and the efforts are searing results with exports started to Afghanistan, Jordan and Nepal, apart from the existing Bangladesh Merchant. With inclusion of newer molecules, product improvement through R&D, hopefully company will give better results in coming years.

The JV is scaling up well with new PCR diagnostic parameters introduced on existing customers demand and with increasing customers in coming years your company will become a dominant player in the Indian Diagnostic & Biotech R&D Field.

CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Stock Exchange Listing Agreement, a report on Corporate Governance and Management Discussion and Analysis and Certificate from the Auditors on compliance thereof is given separately which form a part of this Report.

DIRECTORS'' RESPONSIBILITY STATEMENT

The Directors confirm that:

i) The company has followed the applicable accounting standards in the preparation of the Annual Account for the year under review.

ii) The Directors have made judgements and estimates that are reasonable and prudent and have selected accounting policies and applied them consistently to give true and fair view of the state of affairs of the company as at 31st March, 2014 and its profit for the year ended on that date.

iii) The company has a proper and adequate system of internal control to ensure that all assets are safeguarded against losses and the system is capable of detecting frauds and other irregularities.

iv) The annual accounts placed before you have been prepared on a going concern basis.

DIVIDEND

Due to inadequate profit, your Directors regret their inability to recommend any Dividend for the year.

CURRENT LISTING

Presently, the Equity Shares of the company are listed on the Bombay Stock Exchange Ltd, Mumbai.

DIRECTORS

Shri R.K.Choubey & CA Shabbar Husain retire by rotation at the forthcoming Annual General Meeting and are eligible for reappointment.

AUDITORS

M/s R.C.Baheti & Co. Chartered Accountants, retire at the ensuing Annual General Meeting and are eligible for reappointment.

COMPANY SECRETARY

As per the Companies (Amendment) Act, 2000, it is required, in case of your company, to obtain a certificate from a Company Secretary in whole-time practice regarding compliance of various secretarial matters as the paid-up capital of the company is more than Rs.10 lacs. Accordingly, the company has appointed M/s P.K. Rai & Associates, Practising Company Secretary as a Secretarial Auditor. The Secretarial Compliance Certificate given by M/s P.K. Rai & Associates, Bhopal is attached herewith which forms part of this report. The company had initiated the process of appointing a full time Company Secretary, and is looking for one.

PERSONNEL

Personnel relations remained cordial during the year. The Board expresses its appreciation of the contribution of employees at all levels. There is no employee drawing remuneration in excess of the limits prescribed under section 217(2A) of the Companies Act, 1956.

SAFETY AND ENVIRONMENT

The company has installed adequate systems for industrial safety, environmental protection and pollution control. Necessary facilities at Company''s plant are installed to meet the standards set by Pollution Control Authorities and Industrial Health & Safety Department. Company is having valid permissions from the above authorities. Company is also a member of Common Effluent Treatment Plant - commissioned by Central and State Pollution Control Board.

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

A statement showing additional information on conservation of energy, technology absorption, foreign exchange earnings and outgo as required pursuant to Section 217(1)(e) of the Companies Act, 1956 read with the companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is annexed forming part of this Report.

ACKNOWLEDGEMENTS

The Directors take this opportunity to thank the shareholders, Distributors, the Bankers M/s STATE BANK OF INDIA, Relationship Manager RMME, Sales Hub, BHOPAL for their support and co-operation.

For and on behalf of the Board of Directors

Place : Bhopal R.K. DUBEY Dated : 29th May, 2014 CHAIRMAN & MANAGING DIRECTOR


Mar 31, 2010

The Directors have pleasure in presenting their Thirty Eighth Annual Report, together with the Audited Accounts for the year ended 31st March, 2010 as follows:

FINANCIAL RESULTS

The highlights of the operating results for the year are summarised below :

(Rs. in lakhs)

Year ended Year ended

31-03-2010 31-03-2009

Sales Turnover 1910.47 1513.22

Profit before Depreciation 86.96 57.31

Less: Depreciation . 15.30 13.74

Profit before Tax 71.65 43.57

Less: Provision for Taxation 22.21 16.41

Net Profit after Tax 49.44 27.16



PERFORMANCE FOR THE YEAR 2009-20010

This year will be a turning point in Companys history as its sales figure inched towards the twenty crore mark. With this change in orbit the company is poised for good growth, and hopefully in the coming years the company will be able to reward its shareholders suitably.

This year Company has taken CIB Registration (Ministry of Agriculture, Govt, of India) for import of Key soyabean insecticide Tnazophos from China, which will ensure timely and cost effect sourcing of raw material and in turn give edge to the companys sales in soyabean crop.

This year company has also acquired technology from National Research Development Corporation (NRDC), Govt, of India, New Delhi for Bt(i) Biolarvicide and applied for necessary CIB Registration, which should be granted by 2011 March, with growing awareness for environment protection and human health. Future holds only for safe Bio products. This Bio larvicide is used world over and has played a key role in eradicating mosquitoes from USA and other developed Countries. With above developments, the coming years should augment well for the company.

Export

Companys exports were better this year and grew by 115 %. We expect the growth to continue as company is exploring newer products / markets.

FORAY INTO BIOTECHNOLOGY

The Companys R& D was granted recognition by Govt, of India, Ministry of Science & Tech- nology, Department of Scientific and Industrial Research (DSIR), New Delhi Under Section 35(2AB) of the Income-tax Act, 1961. This recognition will pave way for higher research expenditure and sub- sequent results will come out.

The Companys Bio-tech R&D Laboratory is functioning well and few biological products were put to field trial and with satisfactory results, new safer products would be commercialized in coming years. Company has started R&D in another field of biotechnology (medical genomics) with intent to enter Molecular Diagnostics field, currently world over, medical tests based on DNA testing are regarded more reliable, fast and accurate. By next year, the company should enter this new field of medical diagnostic with strong footing after necessary Research & Development.

CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Stock Exchange Listing Agreement, a report on Corporate Gov- ernance and Management Discussion and Analysis and Certificate from the Auditors on compliance thereof is given separately which form a part of this Report.

DIRECTORS RESPONSIBILITY STATEMENT

The Directors confirm that:

i) The company has followed the applicable accounting standards in the preparation of the Annual Account for the year under review.

ii) The Directors have made judgements and estimates that are reasonable and prudent and have selected accounting policies and applied them consistently to give true and fair view of the state of affairs of the company as at 31st March, 2010 and its profit for the year ended on that date.

iii) The company has a proper and adequate system of internal control to ensure that all assets are safeguarded against losses and the system is capable of detecting frauds and other irregularities.

iv) The annual accounts placed before you have been prepared on a going concern basis.

DIVIDEND

Due to inadequate profit, your Directors regret their inability to recommend any Dividend for the year.

CURRENT LISTING

Presently, the Equity Shares of the company are listed on the Bombay Stock Exchange Ltd, Mumbai.

DIRECTORS

Shri K.N.Dubey & Shn R.K.Choubey retire by rotation at the forthcoming Annual General Meeting and are eligible for reappointment.

AUDITORS

M/s R.C.Baheti & Co. Chartered Accountants, retire at the ensuing Annual General Meeting and are eligible for reappointment.

COMPANY SECRETARY

As per the Companies (Amendment) Act, 2000, it is required, in case of your company, to obtain a certificate from a Company Secretary in whole-time practice regarding compliance of various secretarial matters as the paid-up capital of the company is more than Rs. 10 lacs. Accordingly, the company has appointed M/s P.K. Rai & Associates, Practising Company Secretary as a Secretarial Auditor. The Secretarial Compliance Certificate given by M/s P.K. Rai & Associates, Bhopal is attached herewith which forms part of this report. The company had initiated the process of appointing a full time Company Secretary, and is looking for one.

PERSONNEL

Personnel relations remained cordial during the year. The Board expresses its appreciation of the contribution of employees at all levels. There is no employee drawing remuneration in excess of the limits prescribed under section 217(2A) of the Companies Act, 1956.

SAFETY AND ENVIRONMENT

The company has installed adequate systems for industrial safety, environmental protection and pollution control. Necessary facilities at Companys plant are installed to meet the standards set by Pollution Control Authorities and Industrial Health & Safety Department. Company is having valid permissions from the above authorities. Company is also a member of Common Effluent Treatment Plant - commissioned by Central and State Pollution Control Board.

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

A statement showing additional information on conservation of energy, technology absorption, foreign exchange earnings and outgo as required pursuant to Section 217(l)(e) of the Companies Act, 1956 read with the companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is annexed forming part of this Report.

ACKNOWLEDGEMENTS

The Directors take this opportunity to thank the shareholders. Distributors, the Bankers M/s STATE BANK OF INDORE for their support and co-operation.

For and on behalf of the Board of Directors

Sd/-

(R. K. DUBEY)

CHAIRMAN & MANAGING DIRECTOR

Place : Bhopal

Date: 30th June, 2010

 
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