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Directors Report of Murli Industries Ltd.

Mar 31, 2014

Dear Members,

The company''s Directors are pleased to present the 23rd Annual Report of the Company along with the audited accounts for the financial year (Nine months) ended 31st March, 2014.

1.1 Financial Results

The financial performance of the Company for the financial year (nine months) ended March 31, 2014 is summarized below. The current financial year is consisting of nine months and the previous financial year was of fifteen months and hence the comparison between the financial year to year could not be possible. The data provided for the purpose of better information.

(Rs. in Lacs)

Sr. Particulars Financial Year Financial Year No. 2013 - 2014 2012 - 2013 (For Nine Months) (For Fifteen Months)

1 Sales 24,680 68,879

2 Profit Before Depreciation and Amortisation (8,341) (4,244) Expenses, Finance Cost and Tax Expenses

Less: Finance Cost 9921 20,063

Depreciation And Amortisation Expenses 4516 7,999

Profit Before tax (22,778) (32,306)

Less : Current Tax (Earlier Years) 53 13

Add: Deferred Tax (Assets) - 8,876

Profit for the Year (22,831) (23,443)

Less: Prior Period Item - -

Add: Balance in Profit & Loss Account (39,334) (15,891)

TOTAL (62,165) (39,334)

Less: Appropriation :

Proposed Dividend on Equity Shares 0.00 0.00

Tax on Dividend 0.00 0.00

Closing Balance (62,165) (39,334)

1.2 Segmentwise Turnover ( rs. in Lacs)

Sr. Particulars Financial Year 2013-14 Financial Year 2012-13 No. (Sales) (Sales) (For Nine Months) (For Fifteen Months)

1 Solvent Extraction 840 7,686

2 Paper 11,363 31,750

4 Cement 12,477 29,443

Total 24,680 68,879

Note: The last financial year ended 30.06.2013 of the company consisted of fifteen months and hence the current financial year was supposed to be end on June 30, 2014. The board of directors in its meeting held on 14.02.2014 after considering the section 2(41) of the New Companies Act, 2013 decided to align its financial year as per the provisions of said clause. Hence the Current Financial Year ended 31.03.2014 consist of nine months period.

The figure of the turnover of the previous year has been changed due to regrouping of the accounts. Further the figure of the Power segments is not included in the total turnover of the company due to inter segment consumption.

Financial Operations :

The period in question of the company consists of nine months. During the said period the company achieved a turnover of Rs. 24,680 Lacs. The profit of the company continues in the negative during period too. The net loss for the period is Rs. 22,831 lacs. The accumulated loss of the company reached to Rs. 62,165 lacs.

Dividend:

The meeting of Board of Directors was held on 30th August, 2014. After discussion it was decided that the company is suffering through the cash liquidity crisis due to utilization of less capacity of all units of the company and the burden of high rate of interest hence it is recommended not to distribute any dividend for the year ended March 31,2014.

Transfer to Reserves:

The company decided not to transfer any amount to general reserve this year due to insufficient profit for the period ended March 31,2014.

Subsidiary Company :

The company has four wholly owned subsidiary companies as on March 31,2014. The names are - (i) Murli Cement Limited; (ii) Murli Cement (Maharashtra) Limited; (iii) Murli Cement (Rajasthan) Limited; and (iv) Murli Cement (Karnataka) Limited. The companies are incorporated but yet to start any operation. The board in its meeting held on May 29, 2014 proposed not to attach the balance sheet of the subsidiary companies. The summery of financial statement of there attached at the end of this annual report.

Finance :

The Corporate Debt Restructuring (CDR) is being implemented vide the CDR Cell. The Period of scheme was sanctioned for ten years from the cutoff date i.e. 1st September, 2010. The present CDR scheme cease to exist due to the non co-operation of the member banks and they have withdrawn from the scheme. Few banks also informed that they have assigned their credit facilities to Assets Restruction Company (ARC)/ Assets Management Company.

Insurance:

The company continues to carry adequate insurance cover for its assets against the possible risk like fire, flood, public liability, marine etc.

Corporate Social Responsibilities:

The Company formed a CSR committee consisting of three directors of the company out of which two are independent directors and one executive director. The function of the committee will be as per the provisions of the section 135 (3) of the Companies Act, 2013 and schedule VII of the said act.

BIFR : The management of the company on 24th September, 2013 referred to the Board For Industrial and Financial Reconstruction after considering the Audited Balance Sheet of the company in its meeting held on August 29, 2013. The said reference has accepted by the Registrar and the same is registered. The procedure for declaration of sickness of the company has been going on.

Stock Exchange Information:

The Equity shares of the Company continue to remain listed on the Bombay Stock Exchange and National Stock Exchange and the annual listing fees has been paid to all the Exchanges.

Registrar & Transfer Agent:

Link Intime India Private Limited, C-13, Pannalal Silk Mills Compound, L.B.S Marg, Bhandup (West) Mumbai - 400078 is the Registrar and Share Transfer Agent of the company for the physical and demat shares. The members are requested to contact the Registrar directly for any of their requirements.

Corporate Governance Report and Management Discussion and Analysis Statement:

The Auditor, M/S Demble Ramani & Co., Chartered Accountants has certified the Company''s compliance of the requirements of Corporate Governance in terms of Clause 49 of the Listing Agreement. The said Certificate together with the management discussion and analysis statement is attached there was and forms part of this Report.

Directors:

Shri Rajinder Paul Gupta and Director, Shri Bhargavaram P. Ganu, Director of the company will retire by rotation with the conclusion of Annual General Meeting. Shri Rajinder P. Gupta, directors informed to the management that he has shifted to Delhi for permanent residence and due to the age he will not be able to continue to be director of the company. Shri B. P. Ganu, director, due to the health problem will not be able to continue the directorship of the Company. Shri Alok Srivastava, nominee director of the bank has been promoted and transferred to Delhi and the company received request from the bank to appoint Shri H. K. Bhutani, AGM as a nominee director in place of Shri Alok Srivastava, Shri Yashpal Dhiman, Executive Director, will retire by rotation in the ensuing Annual General Meeting and offers himself for reappointment.

Shri Subhash Rode, Shri Avinash Mardikar and Shri Vinayak Thergaonkar, are Independent directors of the company. These directors will be appointed as per section 149, 150 & 152 of the Companies Act, 2013 rules there under and new listing agreement.

Directors'' Responsibility Statement:

Pursuant to the requirement under Section 217(2AA) of The Companies Act 1956, with respect to Directors'' Responsibility Statement, it is hereby confirmed that:

(1) In the preparation of the annual accounts for the financial year ended March 31, 2014, the applicable accounting standards read with requirements set out under Schedule VI to the Companies Act, 1956, have been followed and there are no material departures from the same;

(2) The directors have selected such accounting policies and applied them consistently and made judgment and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31,2014 and the profit and loss of the Company for the year ended on that date;

(3) The directors have taken proper and sufficient care of 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

(4) The directors have prepared the Annual Accounts of the company on a ''going concern'' basis.

CEO / CFO Certificate:

In terms of Clause 49 (V) of the listing agreement, the certificate duly signed by the CEO/CFO of the company was placed before the Board of Directors along with the annual financial statements for the year ended 31st March, 2014, at its meeting held on 29th May, 2014.

Auditors and Auditors'' Report:

M/s. Demble Ramani & Co., Chartered Accountants, Statutory Auditor of the Company, will retire at the conclusion of the ensuing Annual General Meeting, and is eligible for reappointment. It has shown its willingness to accept reappointment and has further confirmed that their re-appointment, if made, would be within the prescribe limits under section 141(g) of the Companies Act, 2013 and they are not disqualified for reappointment.

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

Cost Auditros:

The company has appointed to M/s Khanuja Patra & Associates, cost auditors for conducting the Cost Audit for the Agro Business, Paper Business and Cement Business for the financial year ending 31.03.2015. The Central Government has approved the same.

Other Information:

Inter-personnel relations in the Company remained harmonious during the period under review. Particulars as required under Section 217 (1)(e) of the Companies Act, 1956 relating to Conservation of Energy and Technology Absorption are provided in the annexure to this report together with particulars of Employees as required under section 217 (2A)(a) of the Companies Act 1956.

Appreciation & Acknowledgement:

Directors wish to place on record their deep appreciation to employees for their hard work, dedication and commitment.

The Board place on record their deep appreciation for the support and co-operation which your company has been receiving from its suppliers, distributors, business partners, and other associated with the company as its trading partner.

Directors also take this opportunity to thank all investors, clients, Vendors, Financial Institutions, Banks, Government & Semi-Government authorities and stock exchanges for their continued support.

For and on behalf of the Board of Directors For Murli Industries Limited

Sd/- Nandlal Maloo Chairman & Managing Director

Place: Nagpur Date: 30th August, 2014


Jun 30, 2013

To the Members,

The company''s Directors are pleased to present the 22nd Annual Report of the Company alongwith the audited accounts for the financialyear (Fifteen months) ended 30th June, 2013.

1.1 Financial Results

The financial performance of the Company for the financialyear (fifteen months) ended June 30, 2013 is summarized below :

(Rs.in Lacs) Sr. No. Particulars Financial Year Financial Year 2012 - 2013 2011 - 2012 (For Fifteen Months) (For Twelve Months)

1 Sales 79,940 109,044

2 Profit Before Depreciation and Amortisation (4,244) (10,123) Expenses, Finance Cost and Tax Expenses

Less: Finance Cost 20,063 12,705

Depreciation And Amortisation Expenses 7,999 6,673

Profit Before tax (32,306) (29,501)

Less : Current Tax (Earlier Years) 13 377

Add: Deferred Tax (Assets) 8,876 13,820

Profit for the Year (23,443) (16,058)

Less: Prior Period Item

Add: Balance in Profit & Loss Account (15,891) 167

TOTAL (39,334) (15,891)

Less: Appropriation :

Proposed Dividend on Equity Shares 0.00 0.00

Tax on Dividend 0.00 0.00

Closing Balance (39,334) (15,891)

1.2 Segmentwise Turnover (Rs.in Lacs)

Sr. No.Particulars Financial Year 2012-13 Financial Year 2011-12 (Sales) (Sales) (For Fifteen Months) (For Twelve Months)

1 Solvent Extraction 7,686 29,194

2 Paper 31,750 33,271

3 Power 11,062 12,531

4 Cement 29,443 34,048

Total 79,941 1,09,044

Note: The board of directors in its meeting held on 30.03.2013 decided to extend its financial year by three months and hence all the figures in the annual report for the year ended 2012-13 is for fifteen months instead of twelve months.

Financial Operations :

During the period under review the company achieved a turnover of Rs. 79,941 Lacs as compared to Rs 1,09,044 Lacs during the previous year 2011-12. The company earned negative profit of Rs. 23,443 Lacs during the year. The accumulated loss of the company reached to Rs. 39,334 Lacs.

The accumulated losses, i.e. losses incurred during the year plus the carried forward losses, exceed the net worth of the company and hence the networh of the company is eroded as on 30th June, 2013. The Company requires to apply to the BIFR under the provision of Chapter III of Sick Industrial Companies (Special Provisions) Act, 1985 for determination whether the Company is a Sick Industrial Company or not. Hence the board of the directors of the company in its meeting held on 29th August, 2013 has decided to refer to Board for Industrial & Financial Reconstruction (BIFR).

BIFR after registration will appoint an Operating Agency to examine and recommend the measures for revival of the Sick Company. The Management of the Company will take all possible steps for revival of the company.

Dividend

In view of losses, Directors regret their in ability to recommend dividend for the financial year ended 30th June, 2013.

Subsidiary Company :

The company has four wholly owned subsidiary companies as on June 30, 2013. The names are - (i) Murli Cement Limited; (ii) Murli Cement (Maharashtra) Limited; (iii) Murli Cement (Rajasthan) Limited; and (iv) Murli Cement (Karnataka) Limited. The companies are incorporated but yet to start their operation. The board in its meeting held on May 9, 2013 proposed not to attach the balance sheet of the subsidiary companies. The company applied to the Ministry of Corporate Affairs for the general exemption from attaching balance sheet, P&L accounts and other reports of the subsidiary companies.

Finance :

The Corporate Debt Structuring (CDR) is being implemented vide the CDR Cell. The Period of scheme was sanctioned for ten years from the cutoff date i.e. 1st September, 2010. The company on the same applied to the banks for reworking of the CDR in view of non release of facilities by bankers during the moratorium period and further deteriorating in the financials of the company. The decision of the consortium members is awaited.

Stock Exchange Information

The Equity shares of the Company continue to remain listed on the Bombay Stock Exchange and National Stock Exchange and the annual listing fees have been paid to all the Exchanges. The Stock Exchange, Kolkata accepted the pending application for delisting of the company and the company delisted from the Exchange with effect from 13th March, 2013. USD 5.5 Million Foreign Currency Convertible Bond (FCCB) matured on February 5, 2012. The FCCB of the company delisted from Singapore Stock Exchange with effect from March 09, 2012.

Registrar & Transfer Agent:

Link Intime India Private Limited, C-13, Pannalal Silk Mills Compound, L.B.S Marg, Bhandup (West) Mumbai - 400078 is the Registrar and Share Transfer Agent of the company for the physical and demat shares. The members are requested to contact the Registrar directly for any of their requirements.

Corporate Governance Report and Management Discussion and Analysis Statement

The Auditors, M/S Demble Ramani & Co., have certified the Company''s compliance of the requirements of Corporate Governance in terms of Clause 49 of the Listing Agreement. The said Certificate together with the management discussion and analysis statement is attached with and forms part of this Report.

Directors'' Responsibility Statement

Pursuant to the requirement under Section 217(2AA) of The Companies Act 1956, with respect to Directors'' Responsibility Statement, itis hereby confirmed that:

(1) In the preparation of the annual accounts for the financial year ended June 30, 2013, the applicable accounting standards read with requirements set out under Schedule VI to the CompaniesAct, 1956, have been followed and there are no material departures from the same;

(2) The directors have selected such accounting policies and applied them consistently and made judgment and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at June 30, 2013 and the profit and loss of the Company for the year ended on that date;

(3) The directors have taken proper and sufficient care of 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

(4) The directors have prepared the Annual Accounts of the company on a ‘going concern'' basis.

(5) AS 22 of ICAI adopted this year for the preparation of deferred tax assets and deferred tax liability of the company.

CEO / CFO Certificate:

The Chairman and Managing Director and the Chief Executive Officer of the Company give annual certification on financial reporting and internal controls to the Board in terms of Clause 49. The Chairman and Managing Director and the Chief Executive Officer also give quarterly certification on financial results while placing the financial results before the Board in terms of Clause 41 of the Listing Agreement.

Directors

The period of Five years of Shri Nandlal Maloo, Managing Director of the company will end on 24th September, 2013. The remuneration committee and the board of directors approved his appointment for next five years subject to the approval of shareholders in the ensuing AGM at the existing remuneration. Further Shri Bajranglal Maloo, Shri Lalchand Maloo, Shri Sunil Kumar Maloo and Shri Yashpal Dhiman, Whole time directors of the company will also retire at the ensuing Annual General Meeting, and being eligible, offer themselves for reappointment. The Remuneration committee and the Board recommend their reappointment as Directors for next five years subject to their retirement by rotation subject to approval of the shareholders in the ensuing AGM at their existing salary.

Chairman

Shri Shobhagmal Maloo, existing non-executive chairman, has resigned from the post of chairman and director of the company due to health and his commitment towards social work. The board accepted his resignation in its meeting held on 9th May, 2013. Further the board appointed him as a Chairman Emeritus of the company considering his contribution towards the company. The board of directors of the Company in its meeting held on 29th August, 2013 appointed Shri Nandlal Maloo as Chairman of the Company alongwith the Managing Director.

Auditors

M/s. Demble Ramani & Co., Chartered Accountants, statutory Auditor of the Company, will retire at the conclusion of the ensuing Annual General Meeting, and is eligible for reappointment. It has shown its willingness to accept reappointment and has further confirmed its eligibility under section 224(1B) of the Companies Act 1956 and not disqualified for reappointment within the meaning of Section 226 of the said Act.

Cost Auditors

The Central Government has approved the appointment of the M/s Khanuja Patra & Associates, cost auditors for conducting the Cost Audit for the Agro Business, Paper Business and Cement Business for the financial year

2012-13.

Other Information

Inter–personnel relations in the Company remained harmonious during the period under review. Particulars as required under Section 217 (1)(e) of the Companies Act, 1956 relating to Conservation of Energy and Technology Absorption are provided in the annexure to this report together with particulars of Employees as required under section 217 (2A)(a) of the Companies Act 1956.

Appreciation & Acknowledgment

Directors wish to place on record their deep appreciation to employees at all levels for their hard work, dedication and commitment. The enthusiasm and unstinting efforts of the employees have enabled the Company to remain at the forefront of the industry.

The Board place on record their deep appreciation for the support and co-operation which your company has been receiving from its suppliers, distributors, business partners, and other associated with the company as its trading partner.

Directors also take this opportunity to thank all investors, clients, Vendors, Financial Institutions, Banks, Government & Semi-Government authorities and stock exchanges for their continued support. For and on behalf of the Board of Directors

For Murli Industries Limited

Sd/-

Nandlal Maloo

Chairman & Managing Director

Place: Nagpur

Date:14th November, 2013


Mar 31, 2011

To the Members,

The Company's Directors are pleased to present the 20th Annual Report of the Company along with the audited accounts for the twelfth month period ended 31st March, 2011.

1.1 Financial Highlights

( Rs. in Lacs)

Sr.No. Particulars Financial Year Financial Year

2010 - 2011 2009 - 2010

1 Sales 73,634 57,168

2 Profit Before Interest and Depreciation 831 13,236

3 Interest 13,812 4,126

4 Profit Before Depreciation (12,981) 9,110

5 Depreciation 6,399 4,668

6 Profit Before Tax (19,381) 4,442

7 Provision for Tax 320 680

8 Profit After Tax (19,700) 3,761

9 Profit Brought forward from Previous Years 21,092 17,947

10 #Surplus available for Appropriation 418 21,708

11 *Dividend and tax thereon 251 205

12 Transfer to General Reserve 0 376

13 Surplus carried forward to Balance Sheet 185 21,092

*The figure is related to previous year.

# Net off by prior period item of Rs. 973 Lacs.

1.2 Segment wise Turnover ( Rs. in Lacs)

Sr.No. Particulars Financial Year Financial Year

2010 - 2011 (Sales) 2009 - 2010 (Sales)

1 Solvent Extraction 27,413 27,692

2 Paper 28,082 20,146

3 Power 7,350 7,919

4 Cement 10,789 1,411

Total 73,634 57,168

1.3 Summarised Profit & Loss Account

( Rs. in Lacs)

Sr.No. Particulars Financial Year Financial Year

2010 - 2011 2009 - 2010

1 Sales 73,634 57,168

2 Other Operational Income 93 699

3 Total 73,727 57,867

4 Operating costs and Expenses 72,896 44,631

5 PBDIT 831 13,236

6 Depreciation 6,399 4,668

7 PBIT (5,568) 8,568

8 Interest 13,812 4,126

9 PBT (19,380) 4,442

10 Taxation 320 680

11 PAT (before exceptional items) (19,700) 3,761

12 Exceptional Items (net of tax) 0.00 0.00

13 Net Profit (19,700) 3,761

14 *Basic EPS (Rs.) (33.38) 7.00

* EPS calculated on the basis of Rs. 2/- per share

Operations

The Company achieved a turnover of Rs. 73,634 Lacs during the period under review, as compared to Rs. 57,168 Lacs during the previous year. Which is a growth of Rs. 16,466 lacs over the last year's turnover i.e. 28.80%. The loss after tax is Rs. 197.00 Lacs during the tenure in comparison to the profit after tax of Rs. 3,761 Lacs in the previous year. The total Profit of the company is negative in this year which is mainly due to higher depreciation and the loss suffered by the Cement Unit of the company.

Dividend

The Board of director at their meeting held on 12/09/2011 after discussion it was held that the company is suffering the cash liquidity crisis due to instability of the Cement Unit and the burden of high rate of interest hence it is recommended not to distribute dividend for the year ended March 31, 2011.

Transfer to Reserves

The company decided not to transfer any amount to general reserve this year due to insufficient profit for the period ended 31st March, 2011.

Corporate Governance Report, Management Discussion & Analysis Statement

The Auditor, M/S Demble Ramani & Co., has certified the Company's compliance of the requirements of Corporate Governance in terms of Clause 49 of the Listing Agreement. The said Certificate together with the management discussion and analysis statement is attached with and forms part of this Report.

Directors' Responsibility Statement

Pursuant to the requirement under Section 217(2AA) of The Companies Act 1956, with respect to Directors' Responsibility Statement, it is hereby confirmed that:

(1) In the preparation of the annual accounts for the financial year ended 31st March 2011, the applicable accounting standards have been followed.

(2) The directors have selected such accounting policies and applied them consistently and made judgment and estimates that were 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 the profit and loss of the Company for the year under review.

(3) The directors have taken proper and sufficient care of the maintenance of adequate accounting records with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(4) The directors have prepared the Annual Accounts on a going concern basis.

Directors

Shri Shobhagmal Maloo, Shri Lalchand Maloo and Shri Sunil Kumar Maloo retire at the ensuing Annual General Meeting, and being eligible offer themselves for reappointment. The Board recommends their reappointment as Directors subject to their retirement by rotation. Dr. Vinayak P Thergaonkar, Shri Avinahs P. Mardikar, and Shri Subhash A Rode, were appointed as an additional directors during the year in operation. The office of these directors will vacate in the ensuing general meeting. The board recommended re-appointing these directors as independent directors of the company. These directors have been appointing by the company as per the provision of Clause 49 of the listing agreement of the company and will not be responsible for the day to day work of the company.

Auditors

M/s. Demble Ramani & Co., Chartered Accountants, who is the statutory Auditor of the Company, will retire at the conclusion of the ensuing Annual General Meeting, and is eligible for reappointment. It has shown its willingness to accept reappointment and has further confirmed its eligibility under section 224(1B) of the Companies Act 1956.

Stock Exchange Information

The Equity shares of the Company continue to remain listed on the Bombay Stock Exchange and National Stock Exchange and the annual listing fees have been paid to all the Exchanges. The application for the delisting of the company from the Calcutta Stock Exchange is still pending. The Foreign Currency Convertible Bond (FCCB) of USD 5.5 Million is listed on the Singapore Stock Exchange.

Other Information

Inter-personnel relations in the Company remained harmonious during the period under review. Particulars as required under Section 217 (1)(e) of the Companies Act, 1956 relating to Conservation of Energy and Technology Absorption are provided in the annexure to this report together with particulars of Employees as required under section 217 (2A)(a) of the Companies Act 1956.

Appreciation & Acknowledgement

Directors wish to place on record their deep appreciation to employees at all levels for their hard work, dedication and commitment. The enthusiasm and unstinting efforts of the employees have enabled the Company to remain at the forefront of the industry.

The Board place on record their deep appreciation for the support and co-operation which your company has been receiving from its suppliers, distributors, business partners, and other associated with the company as its trading partner.

Directors also take this opportunity to thank all investors, clients, Vendors, Financial Institutions, Banks, Government & Semi-Government authorities and stock exchanges for their continued support.

For and on Behalf of Board of Directors of Murali Industries Limited

Nandlal Maloo Bajaranglal Maloo Mangaing Directoir Director

Date: 12 Sep 2011

Place: Nagpur.


Mar 31, 2010

The Companys Directors are pleased to present the 19th Annual Report of the Company along with the audited accounts for the year ended 31 st March, 2010.

Financial Highlights Rs. in Lacs

Sr.No. Particulars Financial Year Financial Year

1 Sales 57,168 52,022

2 Profit Before Interest and Depreciation 13,236 10,187

3 Interest 4,126 2,149

4 Profit Before Depreciation 9,110 8,038

5 Depreciation 4,668 2,805

6 Profit Before Tax 4,442 5,232

7 Provision for Tax 680 638

8 Profit After Tax 3,761 4,595

9 Profit Brought forward from Previous Years 17,947 14,051

10 Surplus available for Appropriation 21,708 18,646

11 Proposed dividend and tax thereon 240 240

12 Transfer to General Reserve 376 459 13 Surplus carried forward to Balance Sheet 21,092 17,947

Segmentwise Turnover (Rs.in Lacs)

Sr.No. Particulars Financial Year Financial Year

1 Solvent Extraction 27,692 26,917

2 Paper 20,146 19,680

3 Power 7,919 5,425

4 Cement 1,411 -

Total 57,168 52,022



Summarised Profit ft Loss Account (Rs. in Lacs)

Sr.No. Particulars Financial Year Financial Year

1 Net Sales 57,168 52,022

2 Other Operational Income 699 82

3 Total 57,867 52,103

4 Operating costs and Expenses 44,631 41,916 5 PBDIT 13,236 10,187

6 Depreciation 4,668 2,805

7 PBIT 8,568 7,382

8 Interest 4,126 2,149

9 PBT 4,442 5,232

10 Taxation 680 638

11 PAT (before exceptional items) 3,761 4,595

12 Exceptional Items (net of tax) 0.00 0.00

13 Net Profit 3,761 4,595

14 *BasicEPS (Rs.) *7.00 *8.97

* EPS calculated on the basis of Rs.2I- per share

Operations

Your Company achieved a turnover ofRs.57,168 Lacs during the period under review as compared toRs.52,022 Lacs during the Previous Year which is a growth of 10% over the last years turnover i.e.Rs.5,146 Lacs. The Profit After Tax (PAT) isRs.3,761 Lacs againstRs.4,595 Lacs in the Previous Year. The profit was slightly less than the profit of Previous Year i.e.Rs.862 Lacs which is mainly due to higher depreciation. The cash accrual i.e. Rs.8,429 Lacs, which is an increment of Rs.1 ,029 Lacs over PreviousYears 7,400 Lacs.

Dividend

The Board of Directors at their meeting held on 02/09/2010 recommended a final dividend @ 20% i.e.Rs.0.40/- per share on equity shares of face value of Rs. 2I- for the year ended March 31,2010, subject to the approval of the shareholders at the Annual General Meeting. Final dividend, approved by the shareholders, will be paid on or after 4th October, 2010.

The final dividend, subject to the approval at the AGM on 29th September, 2010, will be paid to the shareholders whose name appear on the Register of Members with reference to book closure from 25th September, 2010 to 29th September 2010 (inclusive of both dates).

The dividend for the period will absorb Rs. 251 Lacs including Dividend Distribution Tax of

Rs. 36.51 Lacs.

Transfer to Reserves

The Company has proposed to transferRs. 376.13 Lacs amount to the General Reserve out of the amount available for appropriations.

Corporate Governance Report and Management Discussion and Analysis Statement

The Auditors, M/S Demble Ramani & Co., have certified the Companys compliance of the requirements of Corporate Governance in terms of Clause 49 of the Listing Agreement. The said Certificate together with the Management discussion and Analysis statement is attached and forms part of this Report.

Directors Responsibility Statement

Pursuant to the requirement under Section 217(2AA) of The Companies Act 1956, with respect to Directors Responsibility Statement, it is hereby confirmed that:

(1) In the preparation of the annual accounts for the financial year ended 31st March 2010, the applicable Accounting Standards have been followed.

(2) The Directors have selected such accounting policies and applied them consistently and made judgment and estimates that were 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 the profit and loss of the Company for the year under review.

(3) The Directors have taken proper and sufficient care of the maintenance of adequate accounting records with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(4) The Directors have prepared the Annual Accounts on a going concern basis.

Directors

Shri Bajranglal Maloo, Shri R. P. Gupta and Shri B. P. Ganu retire at the ensuing Annual General Meeting, and being eligible offer themselves for reappointment. The Board recommends their reappointment as Directors subject to their retirement by rotation.

Auditors

M/s. Demble Ramani & Co., Chartered Accountants, who are the Statutory Auditors of the Company, will retire at the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. It has shown its willingness to accept reappointment and have further confirmed its eligibility under section 224(1 B) of the Companies Act 1956.

Stock Exchange Information

The Equity shares of the Company continue to remain listed on the Bombay Stock Exchange and National Stock Exchange and the annual listing fees have been paid to all the Exchanges. The application for the delisting of the company from the Calcutta Stock Exchange is still pending. The Foreign Currency Convertible Bond (FCCB) of USD 5.5 Million of FCCB is listed on the Singapore Stock Exchange.

Other Information

Inter-personal relations in the Company remained harmonious during the period under review. Particulars as required under Section 217 (1 )(e) of the Companies Act, 1956 relating to Conservation of Energy and Technology Absorption are provided in the annexure to this report.

Appreciation a Acknowledgment

The Directors of the Company wish to place on record their deep appreciation to employees at all levels for their hard work, dedication and commitment. The enthusiasm and unstinting efforts of the employees have enabled the Company to remain at the forefront of the industry.

The Board place on record their deep appreciation for the support and co-operation which your Company has been receiving from its suppliers, distributors, business partners and all others associated with the Company as its trading partner.

The Directors also take this opportunity to thank all Investors, Clients, Vendors, Financial Institutions, Banks, Registrars & Transfer Agents, Government & Semi-Government Authorities, Depositories and Stock Exchanges for their continued support.

By Order of the Board of Directors Regd Off: For Murli Industries Limited

101, Jai Bhavani Society, Sd/

Wardhman Nagar, Tarun K Sing

Nagpur 440008 Company Secreatary



 
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