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Directors Report of Nath Pulp & Paper Mills Ltd.

Mar 31, 2014

Dear Shareholders,

The Directors are pleased to present the 39th Annual Report on the affairs of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2014.

Financial Results

Your Company''s performance during the year is summarized below:

In Lacs

Particulars Year ended 31st year ended 31st March, 2014 March, 2013

Sales and other income 9492.94 8728.08

Profit/ (loss) before Depreciation 407.30 458.72

Depreciation 209.84 219.13

Net Profit/ loss for the year 195.63 281.51

Prior Period Items (1.83) 41.92

Net Profit (loss) before tax 197.46 239.59

Deferred Tax (lncome)/Expenses (5.23) 114.57

Profit after Tax 202.69 125.02

Performance

The working of the company has been satisfactory during the year. However, the working results were adversely affected due to sluggish market conditions coupled with a steep hike in the cost of raw materials due to devaluation of the rupee against USD.

Your company has also brought about significant changes in the process and product mix to produce core boards used for manufacture of tubes required by the textile industry. We also developed thermal paper and eco-friendly chromo paper for * packaging. Production capacity was also raised from 33300 tons to 40000 tons of kraft paper.

With these improvements your company expects to achieve better results in the years ahead.

Your Company has achieved turnover and other income ofRs. 9492.94 lacs, as compared to the previous yearRs. 8728.08 lacs. Company has achieved a net Profit after adjustment of deferred tax income of Rs. 202.69 lacs.

Auditors'' Report

The notes referred to by the Auditors'' in their report are self explanatory and do not call for further explanation.

Directors

In terms of the provisions of the Companies Act, 1956 Mr. Nandkishor Kagliwal, Director of the Company, retires by rotation and being eligible, offers himself for re- appointment.

Auditors

M/s R. B. Sharma & Co., Chartered Accountants, Aurangabad retire as the Auditors of the Company at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for reappointment.

Particulars of Conservation of energy, Technology absorption, Foreign exchange earnings and outgo

Particulars of conservation of energy, technology absorption, foreign exchange earnings and outgo as required under section 217 (1) (e) of the Companies Act, 1956 read with rule 2 of Companies ( Disclosure of particulars in the Report of Board of Directors Rules 1988 ) are given in the annexure attached hereto and form part of this report.

Particulars of Employees

None of the employees of the Company is covered under the provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of employees) Rules 1975.

Directors'' responsibility statement

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

a) That the applicable accounting standards have been followed along with proper explanation relating to material departure, if any;

b) That the selected accounting policies were applied consistently and judgments and estimates that are reasonable and prudent were made 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/(loss) for the period ;

c) That the directors have taken proper and sufficient care for 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 any fraud or other irregularities ;

d) That the annual accounts were prepared for the year ended 31st March 2014 on a going concern basis. Management Discussion and Analysis

A comprehensive Management Discussion and Analysis Report, forming part of report on Corporate Governance is a part of this Annual Report.

Corporate Governance

Pursuant to clause 49 of the Listing Agreement with the Stock Exchanges, a Corporate Governance Report is made a part of this Annual Report.

A Certificate from the Auditors of the Company regarding compliance with the conditions of the Corporate Governance as stipulated in clause 49 of the Listing Agreement is attached to this report.

Company is complying with clause 49 of the Listing Agreement with regard to Corporate Governance and report to that effect is being regularly filed with the Stock Exchanges. The Company has obtained declaration from the Directors for compliance with code of conduct and certificate from CEO/ CFO was placed before the Board of Directors at the meeting held on 30/05/2014.

Industrial Relations

Company''s industrial relations were cordial. Your directors acknowledge the support and co-operation from employees at all levels.

Acknowledgement

The Directors take this opportunity to thank Company''s customers, vendors, business associates, bankers, financial institutions and govt, authorities for their continued support and co-operation to the Company. The Directors also sincerely acknowledge the trust and confidence reposed by the shareholders of the Company.

For and on Behalf of the Board

Akash Kagliwal Whole time Director DIN No: 01691724

Aurangabad Dated: 30/05/2014


Mar 31, 2013

Dear Shareholders,

The Directors are pleased to present the 38th Annual Report on the affairs of the Company together with the Audited Statements of Accounts for the year ended 31 st March, 2013.

Financial Results:

Your Company''s performance during the year is summarized below: r

Particulars Year ended 31st March, 2013 Year ended 31st March ,2012

Sales and other income 9235.83 8206.13

Profit/ (loss) before Depreciation 500.63 564.49

Depreciation 219.13 222.68

Net Profit/ loss for the year 281.51 341.81

Prior Period Items 41.92 (7.61)

Net Profit (loss) 239.59 349.42

Deferred Tax Expense 114.57 166.65

Profit after Tax 125.02 182.77

Performance:

The working results of the company were satisfactory during the year. Company could achieve 95% capacity utilization.

However, the working result of the company adversely affected due to sluggish market condition coupled with a steep hike in the cost of raw materials, chemicals and coal.

However ,paper market has taken a positive turn and the company expects that results for the current year should improve barring unforeseen circumstances.

Company has achieved turnover of? 9235.83 lacs as compared to ? 8206.13 lacs in the previous year. Company has posted a net Profit before adjustment of deferred tax of? 239.59 lacs during the year..

Auditors'' Report:

The notes referred to by the Auditors in their report are self explanatory and do not call for further explanation.

Directors:

In terms of the provisions of the Companies Act, 1956 Mr. Shrirang Agrawal, Director of the Company, retires by rotation and being eligible, offers himself for re- appointment,

Auditors:

M/s R. B. Sharma 86 Company Chartered Accountants, Aurangabad retire as Auditor of the Company at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for reappointment,

Particulars of Conservation of energy, technology absorption, foreign exchange earnings and outgo:

Particulars of conservation of energy, technology absorption, foreign exchange earnings and outgo as required under section 217 ( 1) (e) of the Companies Act read with rule 2 of Companies ( Disclosure of particulars in the Report of Board of Directors '' Rules 1988) are given in the annexure attached hereto and forms part of this report.

Particulars of Employees:

None of the employees of the Company is covered under the provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of employees) Rules 1975.

Directors'' Responsibility Statement:

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

a) That the applicable accounting standards have been followed along with proper explanation relating to material departure , if any;

b) That the selected accounting policies were applied consistently and judgments and estimates that are reasonable and prudent were made 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 / (loss) of the Company for the period ;

c) That the directors have taken proper and sufficient care for 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 or other irregularities ;

d) That the annual accounts were prepared for the financial ended 31st March 2013 on a going concern basis.

Managements Discussion and Analysis:

A comprehensive Management''s Discussion and Analysis Report,forming a part of the Corporate Governance is part of this Annual Report.

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement with the Stock Exchanges, a Corporate Report is made a part of this Annual report.

A certificate from the Auditors of the Company regarding compliance with the conditions of Corporate Governance as stipulated by clause 49 of the Listing Agreement is attached to this report.

Company is complying with clause 49 of the Listing Agreement with regard to Corporate Governance and report to that effect are being regularly filed with the Stock Exchanges.The Compny has obtained declaration from the Directors for compliance of code of conduct and the certificate from CEO/CFO was placed before the Board of Directors at the meeting held today,

Industrial Relations:

Company''s industrial relations are cordial .Your directors acknowledge the support and co-operation from employees at all levels.

Acknowledgement

The Directors take this opportunity to thank Company''s customers, vendors, business associates, bankers, financial institutions and govt, authorities for their continued support and co-operation to the Company, The Directors also sincerely acknowledge the continuous trust and confidence reposed by the shareholders of the Company.

For and on Behalf of the Board Akash Kagliwal

Whole time Director Aurangabad

Dated: 30th May 2013


Mar 31, 2010

The Directors have pleasure in presenting the Annual Report and the Audited Financial Statements for the year ended 31st March 2010.

Financial Results

Your Companys performance during the year is summarized below:

Rs. in lacs

st st Particulars year ended 31 March, 2010 Year ended 31 March, 2009

Sales and other income 5517.03 3914.59

Profit/(Loss) before depreciation 185.79 75.74

Depreciation 365.72 434.63

Net/profit /(loss) for the year (179.93) (358.88)

Exceptional Items (103.62) 13441.45

Fringe Benefit Tax - (2.25)

Net Profit / (Loss) (283.55) 13080.32

Your Company

During the year, Production of Paper aggregated to 25549 tons representing an overall capacity utilization of sixty seven percent. Companys performance in the year ahead shall be significantly better because of economies of scale and near self sufficiency achieved in respect of major inputs.

Strategic Initiatives :

The premium grade Kraft Paper developed last year has been well received in the market and orders are flowing in on a continuous and sustained basis. It shall be Companys endeavor to retain its market share in this sigments in this years ahead. Company has successfully explored a potential demand for its products in United Arab Emirates (UAE). Company shall endeavor to future enhance its market share.

Financials

Your Company has worked out a restructuring package for its dues to financial institutions and banks. The scheme of rehabilitation filed by the Company with the Honble Board for Industrial and Financial Reconstruction is receiving active consideration.

Auditors Report

The notes referred to by the Auditors, in their report, are self explanatory, and do not call for further explanation.

Directors

Mr. Nandkishor Kagliwal, Director of the company, retires by rotation and being eligible, offers himself for reappointment.

Mr. S.S. Agrawal, is proposed to be appointed as a Director of the Company subject to retirement by rotation.

Auditors

Messrs Lodha and Company, Chartered Accountants, Mumbai, retire as Auditors of the Company at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for reappointment.

Particulars of Conservation of energy technology absorption, foreign exchange earning and outgo

Particulars of conservation of energy, technology absorption and foreign exchange earnings and outgo as required u/s 217(1) (e) of the Companies Act 1956 read with the rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors Rules 1988) are given in the Annexure attached hereto and forms part of this report.

Particulars of employees

None of the employees of the Company is covered under the provisions of Section 217 (2A) of the Companies Act 1956 read with the Companies (Particulars of employees) Rules 1975.

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:

a) That the applicable accounting standards have been followed along with proper explanation relating to material departure, if any;

b) That the selected accounting policies were applied consistently and judgments and estimates that are reasonable and prudent were made 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/(loss) of the Company for the period;

c) That 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 irregularities;

st

d) That the annual accounts were prepared for the financial year ended 31 March 2010, on a going concern

basis.

Corporate Governance

All mandatory provisions of Corporate Governance as provided in the Listing Agreement of the Stock Exchanges on which the Companys shares are listed, are complied with.

Pursuant to clause 49 of Listing Agreement with the Stock Exchanges, a Management Discussion and Analysis Report and a Corporate Governance Report are made a part of this report.

A Certificate from the Auditors of the Company regarding compliance of the conditions of Corporate Governance as stipulated by clause 49 of Listing Agreement is attached to this report.

Industrial Relations

Industrial relations during the year were cordial.

Acknowledgement

The Directors take this opportunity to thank the companys customers, vendors, business associates, bankers, financial institutions and govt, authorities for their continued support and co-operation to the Company.

The directors also sincerely acknowledge the continued trust and confidence reposed by the shareholders of the company.

For and on behalf of the Board

Place: Aurangabad Akash Kagliwal

Dated: 01.09.2010 Whole time Director


Mar 31, 2009

The Directors have pleasure in presenting the Annual Report and the Audited Financial Statements for the year ended 31st March 2009.

Financial Results

Your Companys performance during the year is summarized below:

Rs. in lacs

Particulars Year ended 31st March, 2009 Year ended 31st March, 2008

Sales and other income 3914.59 6762.06

Profit /(Loss) before depreciation 75.74 437.65

Depreciation 434.63 371.50

Net/profit /(loss) for the year (358.88) 66.15

Exceptional Items 13441.45 7.33

Fringe Benefit Tax (2.25) (3.98)

Net Profit / (Loss) 13080.32 69.50

Your Company

During the year, Companys Production of Paper aggregated to 17952 tons as compared to 26704 tons in the previous year. The capacity utilization was low because of protracted strike by the workers and as also constraints of working capital fund.

Strategic Initiatives :

Your company has successfully developed maplitho and copier grades of paper. In the Kraft segment, Company has developed and marketed a new variety of as Text Tube Premium. As of now, only few manufacturers are producing this premium variety. Companys foray into this segment will improve the profitability significantly.

Financials

Your Company has worked out a restructuring package for its dues to financial institutions and banks. The scheme of rehabilitation filed by the Company with the Honble Board for Industrial and Financial Reconstruction is receiving active consideration.

Auditors Report

The notes referred to by the Auditors, in their report, are self explanatory, and do not call for further explanation.

Directors

Mr. Mahesh Mehta, Director of the company retires by rotation and being eligible, offers himself for reappointment.

Auditors

Messrs Lodha and Company, Chartered Accountants, Mumbai, retire as Auditors of the Company at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for reappointment.

Particulars of Conservation of energy technology absorption, foreign exchange earning and outgo

Particulars of conservation of energy, technology absorption and foreign exchange earnings and outgo as required u/s 217(1) (e) of the Companies Act 1956 read with the rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors Rules 1988) are given in the Annexure attached hereto and forms part of this report.

Particulars of employees

None of the employees of the Company is covered under the provisions of Section 217 (2A) of the Companies Act 1956 read with the Companies (Particulars of employees) Rules 1975.

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:

a) That the applicable accounting standards have been followed along with proper explanation relating to material departure, if any;

b) That the selected accounting policies were applied consistently and judgments and estimates that are reasonable and prudent were made 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/(loss) of the Company for the period;

c) That 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 irregularities;



d) That the annual accounts were prepared for the financial year ended 31 March 2009, on a going concern basis.

Corporate Governance

All mandatory provisions of Corporate Governance as provided in the Listing Agreement of the Stock Exchanges on which the Companys shares are listed, are complied with.

Pursuant to clause 49 of Listing Agreement with the Stock Exchanges, a Management Discussion and Analysis Report and a Corporate Governance Report are made a part of this report.

A Certificate from the Auditors of the Company regarding compliance of the conditions of Corporate Governance as stipulated by clause 49 of Listing Agreement is attached to this report.

Industrial Relations

Industrial relations during the year have been cordial except for two months during which workers had resorted to a strike.

Acknowledgement

The Directors take this opportunity to thank the companys customers, vendors, business associates, bankers, financial institutions and govt, authorities for their continued support and co-operation to the company.

The directors also sincerely acknowledge the continued trust and confidence reposed by the shareholders of the company.

For and on behalf of the Board



Place: Aurangabad Akash Kagliwal

Dated: 29.09.2009 Whole time Director

 
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