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Directors Report of Lawreshwar Polymers Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the Twentieth Annual Report of the company together with the Audited financial accounts for the financial year ended on 31st March 2014.

FINANCIAL RESULTS:

(Rs. in Lacs)

Particulars 2013-2014 2012-2013 (Audited) (Audited)

Sales 7705.19 6845.64

Profit before Depreciation & Tax 382.27 324.71

Profit before Tax 262.82 215.09

Provision for Tax (Currant & Deferred Tax) 92.57 77.85

Not Profit 170.25 137.24

Appropriation

Dividend NILL NILL

Balance b/f from the previous year 700.42 563.18

Transferred to General Reserve NIL NIL

Transferred to Reserve & Surplus 870.68 700.42

Operational Review

For the year ended as on March 31,2014 the company has recorded a strong revenue and margin performance. Your Company has achieved turnover of Rs. 7705.19 Lacs as against 6845.64 Lacs in the previous year. The Net Profit of the Company has shot up by approx 24% amounting to Rs 170.25 Lacs as against Rs. 137.24 Lacs in the previous year due to increase of approx 12.55 % in the turnover of the Company.

Directors

As per Article 107 and 108 of Article of Association of the Company Shri Naresh Agarwal and Shri G.S. Kandoi, Directors of the Company are liable to retire by rotation in the forthcoming Annual General Meeting and being eligible, offer themselves for reappointment.

Share Capital

During the year under review, your Company''s Authorised Share Capital has remain unchanged at 15,00,00,000 (Rupees Fifteen Crores) comprising 1,50,00,000 Equity Shares of 10/- each. During the year under review, your Company''s paid up equity share capital has also remained unchanged at 13,67,87,990 (Rupees Thirteen Crores Sixty Seven Lacs Eighty seven Thousand Nine Hundred Ninety only) comprising 13,67.87,99 Equity Shares of 10/- each.

Meetings

The board of the company has met as many as Twenty one times and the details of the same are given in Annexure "F".

Explanation regarding the Qualification

The auditor has given a qualified Audit Report against the amount standing in the Other Assets and the Management''s explanation for the same is given under Note 15. of notes on Financial Statements as under:

There had occurred a fire on 24.02.2008 at the registered office & factory premises of the company. The Insurance Company has passed the claim of the company and there is a shortfall of Rs. 1,86,74,521 against the said claim. No provision is made for the same, as the company has not accepted the assessment of loss from insurances companies and has invoked the arbitration clause of the insurance contract and company is of opinion that they will receive the balance amount of Rs. 1,86,74,521 from the insurance companies.

Directors Responsibility Statement

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

a) in the preparation of Annual Accounts of the Company, the applicable Accounting Standards have been followed along with proper explanation relating to material departures from the same, if there any.

b) the Directors 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 & fair view of the state of affairs of the Company at the end of the financial year ended March 31st. 2014 and of the Profit of the Company for the year ended on that date.

c) The Directors 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 irregularity.

d) The Directors have prepared the Annual Accounts of the Company on a going concern basis.

PARTICULARS OF EMPLOYEES REQUIRED UNDER SECTION 217 (2A) OF THE COMPANIES ACT, 1956

None of the Employee of the Company has been paid such remuneration which attracts the provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, hence requirement of disclosure under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 doesn''t arise.

Auditor and Auditor''s Report

M/s A. Bafna & Company. Chartered Accountants, Jaipur holds office until the conclusion of the ensuing Annual General Meeting and being eligible and offer themselves for re-appointment. The Company has received a letter from the Auditors to the effect that their appointment, if made would be within the provision of Companies Act 2013. M/s A. Bafna & Company, Chartered Accountants have also, under section 139 (1) of the Companies Act, 2013, furnished a certificate of their eligibility for re appointment.

Notes on Accounts and significant Accounting Policies are self explanatory hence not require any further clarification.

Dividend

To conserve the resources of the Company for its future growth, the Board of Directors of the Company are not recommending any dividend for the financial year 2013-2014.

Public Deposits

During the year ended March 31st 2014, your Company has not accepted any deposits from the public.

Management Discussion and Analysis

A detailed review of operational performance and future outlook of the Company is given under the "Management Discussion and Analysis Report" which forms part of this Report.

CONSERVATION OF ENERGY, TECHNOLOGY, FOREIGN EXCHANGE EARNINGS AND OUTGO

Information in accordance with the provisions of 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 are given in Annexure "B" to this report.

Acknowledgement

The Directors of your Company acknowledge a deep sense of gratitude for the continued support extended by Investors, Customers, Business Associates, Bankers and Vendors. Yours Directors place on record their appreciation for the significant contribution made by the employees at all levels through their hard work and dedication.

The Directors also thanks the various Government and Regulatory Authorities and last but not the least the Shareholders for their patronage, support and faith in the company. The Board looks forward to their continued support in the years to come.

By the order of the Board For Lawreshwar Polymers Limited

Place: Jaipur (Ramesh Chand Agarwal) Chairman Dated: 24.05.2014 DIN: 00108287


Mar 31, 2010

The Directors have pleasure in presenting the Sixteenth Annual Report of the company together. with the Audited financial accounts for the financial year ended on 31st March 2010.

FINANCIAL RESULTS: Rs.In lacs

2009-2010 2008-2009

(Audited) (Audited)

Sales 3021.51 2836.13

Profit before Depreciation & Tax 170.46 85.76

Profit before Tax 94.42 9.40

Provision for Tax (Current & Deferred Tax) 19.59 8.23

Net Profit 74.83 15.27

Appropristion

Dividend NIL NIL

Balance b/f from the previous year 216.60 201.33

Transferred to General Reserve NIL NIL

Transferred to Reserve & Surplus 291.43 216.60

Operational Review

Your Company has achieved turnover of Rs. 3021.52 Lacs as against Rs. 2836.13 Lacs in the previous year. The Net Profit of the Company is Rs 74.83 Lacs as against Rs 15.27 Lacs in the previous year.

Tribute to Shri K.P.SINGH

The Board of Directors noted with deep regret the sad demise of the Companys independent Director, Shri K.P.SINGH on July 03.2010. Mr. K.P.SINGH was a visionary, philanthropist, apart from being a leading industrialist Spiritual strength and moral values were part of his personal credo. Mr. K.P.SINGH was known for his dignified unassuming personality, intellect, meticulous planning, deep regard for punctuality, business acumen and dynamic leadership.

Mr, Sidharth Singh has been appointed as Additional Director of the Company w.e.f. July 03, 2010 In place of Shri K.P.Singh as Non Executive Independent Director

Directors

As per Article 107 and 108 of Article of Association of the Company Shri Ramesh Chand Agarwal and Shri Radhe Shyam Mangal, Directors of the Company are liable to retire by rotation in the forthcoming Annual General Meeting and being eligible, offer themselves for reappointment.

Directors Responsibility Statement.

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

a) in the preparation of Annual Accounts of the Company the applicable Accounting Standards have been followed along with proper explanation to material departure from the same, If there any.

b) the Directors 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 & fair view of the state of affairs of the Company at the end of the financial year ended March 31st 2010 and of the Profit of the Company for the year ended on that date.

c) the Directors 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 Irregularity.

d) the Directors have prepared the Annual Accounts of the Company on a going concern basis.

PARTICULARS OF EMPLOYEES REQUIRED UNDER SECTION 217 (2A) OF THE COMPANIES ACT, 1956

None of the Employee of the Company has been paid such remuneration which attracts provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, hence requirement of disclosure under section 217(2A) of the Companies Act. 1956 read with the Companies (Particulars of Employees) Rules, 1975 doesnt arise.

Auditor and Auditors Report

M/s A. Bafna & Company. Chartered Accountants. Jaipur holds office until the conclusion of the ensuing Annual General Meeting and being eligible and offer themselves for re-appointment. The Company has received a letter from the Auditors to the effect that their appointment, if made would be within the prescribed limit u/s 224 (1B) of the Companies Act, 1956 and also that they are not otherwise disqualified within the meaning of section 226 (3) of the Companies Act 1956. Notes on Accounts and significant Accounting Policies are self explanatory hence not require any further clarification.

Subsidiary

The Company has incorporated a subsidiary Company in the name of Swastik Polyblend Private Limited In the State of New Delhi AS on 05/02/2010.

Further the Company has also incorporated a Subsidiary Company in the name of JMR Mobilink Private Limited as on 16/07/2010, The Company will enter in the Mobile & Communication Sector.

Dividend

for the financial year growth, the Board of Directors of the Company are not recommending any dividend

Public Deposits

During the year ended March 31st. 2010, your Company has not accapted any deposits from the public.

Future Plans

The Company will enter in the Mobile & Communication Sector, therefore, the Company has Incorporated a Subsidiary Company in the name of JMR Mobilink Private Limited as on 16/07/2010.

Further, the company will install 3 new machines for manufacturing of PU footwear during the financial year 2010-11 new machines for manufacturing of PU footwear during the financial year 2010-11.

Management Discussion and Analysis

A detated review of operational performance and future outlook of the Company Is given under the ¦Management Discussion and Analysis Report" wich forms part of this Report.

CONSERVATION OF ENERGY, TECHNOLOGY, FOREIGN EXCHANGE EARNINGS AND OUTGO

Information in accordance with the provisions of 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 are given in Annexure "B" to this report.

Acknowledgement

The Directors of your Company acknowledge a deep sense of gratitude for the continued support extended by Investors, Customers, Business Associates. Bankers and Vendors. Yours Directors place on record their appreciation for the significant contribution made by the employees at all levels through their hard work and dedication.

The Directors also thanks the various Government and Regulatory Authorities and last but not the least the Shareholders for their patronage, support and faith in the company. The Board looks forward to their continued support in the years to come.



For and on behalf of the Board

PLACE: Jaipur (Ramesh Chand Agarwal

DATED: 04.09.2010 Chairman


Mar 31, 2009

The Directors have pleasure in presenting the Fifteenth Annual Report of the company together with the Audited financial accounts for the financial year ended on 31st March, 2009.

financial results (Rs. In lacs) Particulars 2008-2009 2007-2008 (Audited) (Audited)

Sales 2836.13 2319.91 Profit before Depreciation & Tax 85.76 182.75

Profit before Tax 9.40 126.88 Provision for Tax (Current & Deferred Tax) 8.23 60.78 "Net Profit 15.27 74.97 Appropriation Dividend NIL NIL Balance b/f from the previous year 201.33 126.36 Transferred to General Reserve Nil NIL Transferred to Reserve & Surplus 216.60 201.34

Operational Review

Your Company has achieved turnover of Rs. 28.36 Crores as against Rs. 23.19 Crores in the previous year. The Net Profit of the Company is Rs 0.15 Crores as against Rs 0.75 Crores in the previous year.

Tribute to Mohan Lai Agarwal

The Board of Directors noted with deep regret the sad demise of the Companys founder Chairman, Mohan Lai Agarwal on August 24, 2008. Mr. Mohan Lai Agarwal was a visionary, philanthropist, apart from being a leading industrialist. Spiritual strength and moral values were part of his personal credo. Shri Mohan Lai Agarwal was known for his dignified unassuming personality, intellect, meticulous planning, deep regard for punctuality, business acumen and dynamic leadership.

Directors

As per Article 107 and 108 of Article of Association of the Company Shri Rakesh Akar and Shri K.K.Gupta, Directors of the Company are liable to retire by rotation in the forthcoming Annual General Meeting and being eligible, offer themselves for reappointment

Directors Responsibility Statement.

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

a) In the preparation of Annual Accounts of the Company the applicable Accounting Standards have been followed along with proper explanation to material departure from the same, if there any.

b) the Directors 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 & fair view of the state of affairs of the Company at the end of the financial year ended March 31", 2009 and of the Profit of the Company for the year ended on that date.

c) the Directors 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 irregularity.

d) the Directors have prepared the Annual Accounts of the Company on a going concern basis.

PARTICULARS OF EMPLOYEES REQUIRED UNDER SECTION 217 (2A) OFTHE COMPANIES ACT, 1956

None of the Employee of the Company has been paid such remuneration which attracts provisions of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, hence requirement of disclosure under section 217(2A) of the Companies Act, 1956 read with the Compar ies (Particulars of Employees) Rules, 1975 doesnt arise.

Auditor and Auditors Report

M/s A. Bafna & Company, Chartered Accountant!, Jaipur holds office until the conclusion of the ensuing Annual General Meeting and being eligible and offer themselves for re-appointment The Company has received a letter from the Auditor to the effect that the appointment, if made would be within the prescribed limit u/s 224 (IB) of the Companies Act, 1956 and also that they are not otherwise disqualified within the meaning of section 226 (3) of the Companies Act, 1956.

Notes on Accounts and significant Accounting Policies are self explanatory hence not reauire any further clarification.

Subsidiary

The Company in Its Board meeting held on 18.11.2008 has approved to sell out 10000 No. of equity shares at very attractive price @> Rs. 18.00 per share to the applicant of Its subsidiary Company of Lawreshwar Footcare Private Limited. Hence the requirement of published of the consolidated statement of the Company need not arise.

Dividend

To conserve the resources of the Company for Its future growth, the Board of Directors of the Company are not recommending any dividend for the financial year 2008-2009

Public Deposits

During the year ended March 31st, 2009, your Company has not accepted any deposits from the public.

Management Discussion and Analysis

A detailed review of operational performance and future outlook of the Company is given under the "Management Discussion and Analysis Report" which forms part of this Report.

CONSERVATION OF ENERGY, TECHNOLOGY, FOREIGN EXCHANGE EARNINGS AND OUTGO

Information in accordance with the provisions of 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 are given in Annexure " B" to this report.

Acknowledgement -

The Directors of your Company acknowledge a deep sense of gratitude for the continued support extended by Investors, Customers, Business Associates, Bankers and Vendors. Yours Directors place on record their appreciation for the significant contribution made by the employees at all levels through their hard work and dedication.

The Directors also thank the various Government and Regulatory Authorities and last but not the least the Shareholders for their patronage, support and faith in the company. The Board looks forward to their continued support in the years to come.

By the order of the Board PLACE: Jaipur (Ramesh Chand Agarwal) DATED: 04.09.2009 Chairman

 
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