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Directors Report of National Plastic Technologies Ltd.

Mar 31, 2015

The Directors hereby present the 26th Annual Report of the Company together with the audited statementofaccountsfortheyearended31stMarch2015.

I. Financial Results:

Year ended Year ended Particulars 31.3.2015 31.3.2014 (Rs. in lakhs) (Rs. in lakhs)

Sales and other Income (Gross) 8384.21 8214.52

Profit before depreciation and Interest 711.87 636.35

Finance cost 347.96 299.52

Operating Profit/(Loss) 363.91 336.83

Depreciation 158.55 142.61

Profit/(Loss) before taxes 205.36 194.22

Provision for taxation 66.16 63.40

Profit/(Loss) after tax 139.20 130.82

2. Operations /Performance:

The Company's gross turnover & income during the year under review was Rs.8384.21 lakhs as compared to Rs 8214.52 lakhs in the previous year. The above figures are inclusive of job work income. The profit before tax during the current year is Rs.205.36 lacs as against Rs. 194.22 lacs during the previous year. No amount is proposed to be transferred to reserves

3. Dividends:

Considering the need to conserve cash, the Board of Directors have not recommended any dividend for the financial year ended 31.03.2015.

4. Deposits:

The Company has not accepted any deposits from the public.

5. Directors & Key Managerial Persons:

Independent Directors:

The Company had at its AGM held on 24th September 2014, appointed Mr. SudhirK Patel and Mr. Ajit Kumar Chordia as Independent Directors for a period of five year w.e.f. 24th September, 2014. The Independent Directors have acknowledged the terms of appointment. The Independent Directors have declared that they met all the criteria of independence as provided under section 149(6) of the Companies Act, 2013 and Clause 49 of Listing Agreement. The independent Directors were fully kept informed of the Company's activities in all its spheres.

Woman Director:

Smt Manju Parakh is a woman director liable to retire by rotation and being eligible, offers herself for reappointment. She is a non-executive non-independent Director. The Company is in compliance with section 149 of the Companies Act, 2013 read with Companies (Appointment and Qualification of Directors) rules, 2014 and Clause 49 of the listing agreement w.r.t appointment of Woman Director.

Executive Directors:

Shri Sudershan Parakh, was reappointed as the Managing Director of the Company for a period of 3 year w.e.f. 1st October, 2014 on the terms and conditions as recommended by the Nomination and Remuneration Committee and approved by the Board at its meeting held on 14th August, 2014 and the shareholders vide resolution passed by the shareholders at the AGM held on 24th September, 2014.

Shri AlokParakh, was reappointed as the Joint Managing Directorof the Company for a period of 3 year w.e.f. 1st October, 2013 on the terms and conditions as approved by the Nomination and Remuneration Committee and approved by the Board at its meeting held on 13th August, 2013 and the shareholders vide resolution passed by the shareholders at the AGM held on 23rd September, 2013.

6. Nomination and Remuneration Policy:

The Nomination and Remuneration Committee of Directors (NRC) reviews the composition of the Board, to ensure that there is an appropriate mix of abilities, experience and diversity to serve the interest of all shareholders and the Company. In accordance with the requirements under Section 178 of the Companies Act 2013 and Clause 49 of Listing Agreement,the NRC governs the terms of nomination and appointment and remuneration of Directors, Key Managerial Personnel and Senior Management of the Company. As and when a vacancy arises or is expected, the NRC will identify, ascertain the integrity, qualification, appropriate expertise and experience of potential candidates, having regard to the skills that the candidate will bring to the Board/Company, and the balance of skills added to that of which the existing members hold. The NRC will review the profile and other aspects of the person and the most suitable person is recommended for appointment by the Board or is recommended to shareholders for their election. The NRC has discretion to decide whether qualification, expertise and experience possessed by a person are sufficient/ satisfactory for the concerned position. NRC will ensure that any person who is appointed or continues in employment of the Company as Directors shall comply with the conditions as laid out under Part I of Schedule V to the Companies Act, 2013. NRC will ensure that appointment of Independent Directors of the Company will be made in accordance with the provisions of Section 149 read with Schedule IV of the Companies Act,2013 and Clause 49 of Listing Agreement.

7. Directors1 Responsibility Statement:

In accordance with the provisions of Section 134(5) of the Companies Act, 2013, your Directors confirm:

1. That in the preparation of the annual accounts for the year ended 31st March, 2015, the applicable accounting standards have been followed by your Company and there were no material departures.

2. That 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 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.

3. 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, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. That the Directors have prepared the annual accounts for the year ended 31st March, 2015 on a going concern basis.

5. That the Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively and

6. The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

8. Particulars of Employees & Directors Remuneration & Related Disclosures:

The information required pursuant to Section 197 read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company, forms part of this report as 'Annexure'. However, as permitted in terms of Section 136 of the Act, this Annual Report is being sent to all the members and others entitled thereto, excluding the said annexure. Members who are interested in obtaining these particulars may write to the Company Secretary at the Registered Office of the Company. The aforesaid annexure is also available for inspection by members at the Registered Office of the Company, 21 days before the Annual General Meeting and up to the date of Annual General Meeting during business hours on working days.

9. Financial Performance & position of Subsidiaries & Associate Companies:

The Company does not have any Subsidiary or Associate Company and hence disclosure about subsidiary and associate company does not arise.

10. Consolidated Financial Statement:

The company does not have any Subsidiary/Associate and preparation of Consolidated Financial Statements does not arise.

11. Information Under Section 134(3)(m) of the Companies Act, 2013 is furnished below: A. Conservation of Energy:

1. Change of circuitry in the machines developed in house to reduce power consumption.

2. Power saving equipments have been installed on machines and there has been considerable reduction in power consumption.

3. Heater insulation jackets have been provided on the machines to prevent the energy losses.

4. Timers have been installed to reduce the idle running of the motors preventing energy losses.

5. Natural lighting is being used in plants to avoid usage of industrial lamps in the day.

6. APFC Panels have been installed in all plants to maintain power factor, thus ensuring efficient energy management.

B. Technology Absorption:

Not applicable.

9. Auditors:

Statutory Auditors:

The Company at its 25th AGM held on 24th September, 2014 appointed M/s. C.A. Patel & Patel, Chartered Accountants, Chennai, (Firm Registration No.005026S) as statutory auditors of the Company to hold office for a period of 3 years from the conclusion of the said AGM, subject to ratification at every AGM. The Auditors Report for the financial year 2014-15 does not contain any qualification, reservation or adverse remark and the same is attached with the annual report. The Company has obtained necessary certificate under Section 141of the Act 2013 from the auditors conveying their eligibility for the above appointment.

Cost Audit:

Since the business activities do not fall under the scope of cost audit, the company has not appointed cost auditor.

Secretarial Auditors:

As required under Section 204 of the Companies Act, 2013, the Company is required to appoint a Secretarial Auditor for auditing secretarial and related records of the Company. Accordingly Mr. S. Bhaskar has been appointed as Secretarial auditor. The secretarial audit report is attached along with the annual report for the year 2014-15. The secretarial audit report does not contain any qualification, reservation or other remarks.

13. Corporate Governance

The Company has been practicing the principles of good corporate governance and lays emphasis on transparency, accountability and integrity. A separate section on Corporate Governance and certificate from statutory auditors of the Company regarding compliance of conditions of Corporate Governance as stipulated under clause 49 of Listing Agreement with Stock Exchange forms part of this Annual Report.

14. Performance Evaluation of the Board:

Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the Board has carried out the annual performance evaluation of its own performance, the Directors individually as well as the evaluation of the working of its Board Committees. The Directors expressed their satisfaction with the evaluation process

15. Other Disclosures:

Annual Return:

Extract of Annual Return in the prescribed form is given as Annexure to this report, in terms of the requirement of Section 134(3)(a) of Companies Act, 2013 read with Companies (Accounts) rules, 2014.

Corporate Social Responsibility:

The mandatory provisions under section 135 of the Companies Act, 2013 is not applicable to the Company.

The Company has not given any Loans or Guarantees.

16.Acknowledgement:

The Directors wish to express their sincere appreciation & gratitude to Late Mr. Bachhraj Parakh, the founder Chairman of the Company for the guidance provided by him over the years in building the company and the National Group.

Your Directors place on record their appreciation of the co-operation and support extended by the customers, suppliers, employees and assistance received from Bankers, Local Bodies and other Government authorities.

On behalf of the Board

For National Plastic Technologies Ltd.,

Place: Chennai Sd/- Sd/-

Date : 07-08-2015 Managing Director Joint Managing Director


Mar 31, 2014

The Shareholders

The Directors hereby present the 25th Annual Report of the Company together with the audited statement of accounts for the year ended 31st March 2014.

1. Financial Results:

Year ended Year ended Particulars 31.3.2014 31.3.2013 (Rs. in lakhs) (Rs. in lakhs)

Sales and other Income (Gross) 8214.52 6301.72

Profit before depreciation and Interest 636.35 701.35

Finance cost 299.52 365.99

Operating Profit / (Loss) 336.83 335.36

Depreciation 142.61 142.50

Profit / (Loss) before taxes 194.22 192.86

Provision for taxation 63.40 62.67

Profit / (Loss) after tax 130.82 130.19



2. Operations :

The Company''s gross sales during the year under review was Rs. 8122.03 lakhs as compared to Rs. 6231.28 lakhs in the previous year. The above figures are inclusive of job work income. The profit before tax during the current year is Rs. 194.22 lacs as against Rs. 192.86 lacs during the previous year.

3. Dividends:

Considering the need to conserve cash, the Board of Directors have not recommended any dividend forthe financial yearended 31.03.2014.

4. Deposits:

The Company has not accepted any deposits from the public.

5. Directors :

Smt. Manju Parakh retires by rotation and being eligible, offers herself for reappointment.

6. Directors'' Responsibility Statement:

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956, your Directors confirm:

1. That in the preparation of the annual accounts, the applicable accounting standards have been followed by your Company.

2. That the Directors have selected such accounting policies and applied them consistently and made judgements 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 forthat period.

3. 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.

4. That the Directors have prepared the annual accounts on a going concern basis.

7. Particulars Of Employees:

Information as required under Section 217(2A) of the Companies Act, 1956 as amended is not applicable.

8. Information Under Section 217(1)(E) Of The Companies Act, 1956 is furnished below:

A. Conservation of Energy:

1. Change of circuitry in the machines developed in house to reduce power consumption.

2. Power saving equipments have been installed on machines and there has been considerable reduction in power consumption.

3. Heater insulation jackets have been provided on the machines to prevent the energy losses.

4. Timers have been installed to reduce the idle running of the motors preventing energy losses.

5. Natural lighting is being used in plants to avoid usage of industrial lamps in the day.

6. APFC Panels have been installed in all plants to maintain power factor, thus ensuring efficient energy management.

B. Technology Absorption:

Not applicable.

9. Auditors :

The Company, in terms of Section 139 (1) and (2) of the Act 2013, is required to appoint statutory auditors for a term of five consecutive years i.e., till the conclusion of sixth annual general meeting and ratify their appointment during the period, in every Annual General Meeting by an ordinary resolution.

The period for which any firm has held office as auditor prior to the commencement of the Act 2013 will be taken into account for calculating the period of five consecutive years, as per the proviso to Section 139(2) of the Act 2013 read with Rule 6(3) of the Companies (Audit and Auditors) Rules, 2014.

M/s. C.A. Patel & Patel, Chartered Accountants, Chennai, who were earlier appointed as statutory auditors of the Company are eligible to be appointed for the remaining period of three years out of the first term of five consecutive years in terms of the Companies Act 2013.

The Company has obtained necessary certificate under Section 141 of the Act 2013 from the auditor conveying their eligibility for the above appointment. The Audit Committee and Board reviewed their eligibility criteria, as laid down under Section 141 of the Act 2013 and recommended their appointment as auditors for the aforesaid period.

10. Acknowledgement:

Your Directors place on record their appreciation of the co-operation and support extended by the customers, suppliers, employees and assistance received from Bankers, Local Bodies and other Government authorities.

On behalf of the Board For National Plastic Technologies Ltd.,

Place : Chennai Sd/- Date : 14.08.2014 Chairman


Mar 31, 2010

The Directors hereby present the 21st Annual Report of the Company together with the audited statement of accounts for the year ended 31st March 2010.

I.Financial Results:

Particulars Year ended Year ended 31.3.2010 31.3.2009 (Rs. in lakhs) (Rs.in lakhs)

Sales and other Income (Gross) 5606.75 5598.12

Profit before depreciation and Interest 789.83 731.01

Interest 331.96 388.33

Operating Profit / Loss 457.87 342.68

Depreciation 139.11 129.27

Profit / Loss before taxes 318.76 213.41

Provision for taxation 54.00 26.43

Profit / Loss after tax 264.76 186.98

Less: Provision for Dividend/ Dividend Tax 56.89 -

Add: Balance Profit brought forward 119.55 0.57 from last year

Deferred Tax 150.00 68.00

Add: MAT Entitlement Credit 115.31 0.00

Balance carried to Balance Sheet 292.73 119.55

2. Operations:

Our company has achieved gross income of Rs.56.06 Crores during the year under review as compared to Rs.55.98 Crores during the previous year. The above figures are inclusive of job work income. The company has achieved EBDIT of Rs.7.89 Crores as against Rs.7.31 crores during the previous year.

3. Dividends:

The Board recommends to the Shareholders for declaration at the ensuing AGM a dividend @ 8% i.e., Rs.0.80 (Eighty paise only) per share to the Equity Shareholders. The said Equity dividend shall result in a cash outflow of Rs.48.62 Lakhs and dividend tax payable on the said equity dividend will amount to Rs. 8.26 Lakhs.

4. Deposits:

The company has not accepted any fixed deposits from the public.

5. Directors:

Shri Bachhraj Parakh and Shri Alok Parakh retire by rotation and being eligible offer themselves for re-appointment.

6. Directors Responsibility Statement:

In accordance with the provisions of Section 217 (2AA)of the Companies Act, 1956, your Directors confirm:

1. That in the preparation of the annual accounts, the applicable accounting standards have been followed by your company.

2. That the Directors have selected such accounting policies and applied them consistently and made judgements 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.

3. 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.

4. That the Directors have prepared the annual accounts on a going concern basis.

7. Particulars Of Employees:

Information as required under Section 217(2A) of the Companies Act, 1956 as amended is not applicable.

8. Information Under Section 217(1)(E) Of The Companies Act, 1956 is Furnished Below: A. Conservation of Energy:

1. Change of circuitry in the machines developed in house to reduce power consumption.

2. Power saving equipments have been installed on machines and there has been considerable reduction in power consumption.

3. Heater insulation jackets have been provided on the machines to prevent the energy losses.

4. Timers have been installed to reduce the idle running of the motors preventing energy losses.

5. Natural lighting is being used in all new plants to avoid usage of Industrial Lamps in the day.

6. APFC Panels have been installed in plants to ensure efficient energy management.

B. Technology Absorption: Not applicable

C. Foreign Exchange Earnings And Outgo:

31.3.2010 31.3.2009 (Rs. in lakhs) (Rs.in lakhs)

Earnings - 5.57

Expenditure 11.70 3.93



9.Auditors:

The Companys Statutory Auditors M/s. C.A.Patel & Patel, Chartered Accountants, Chennai retire at the conclusion of this Annual General Meeting and are eligible for-reappointment.

10. ACKNOWLEDGEMENT:

Your Directors place on record their appreciation of the co-operation and support extended by the customers, suppliers, employees and assistance received from State Bank of India, Local Bodies and other Government authorities.

Your Directors place on record their appreciation of valuable services rendered by Late Shri T.N. Lakshmi Narayanan during his tenure as Director of the Company and express their deep sense of appreciation and gratitude for the same.

On behalf of the Board for National Plastic Technologies Ltd.,

PLACE : Chennai DATE : 01/09/2010 Chairman


Mar 31, 2009

The Directors hereby present the 20th Annual Report of the Company together with the audited statement of accounts for the year ended 31 st March 2009.

I.FINANCIAL RESULTS:

Particulars Year ended Year ended

31.3.2009 31.3.2008 (Rs. in lakhs) (Rs. in lakhs)

Sales and other Income (Gross) 5598.12 4341.22

Profit before depreciation and Interest 731.01 693.03

Interest 388.33 329.56

Operating Prof it/Loss 342.68 363.47

Depreciation 129.27 110.99

Profit/Loss before taxes 213.41 252.48

Provision for taxation 26.43 31.45

Profit/Loss aftertax 186.98 221.03

Balance Profit brought forward from last year 0.57 -180.46

Deferred Tax 68.00 40.00

Balance carriedto Balance Sheet 119.55 0.57

2. OPERATIONS:

Our company has achieved gross income of Rs.55.98 crores during the year under review as compared to Rs.43.41 crores during the previous year. The above figures are inclusive of job work income. The company has achieved EBDITof Rs.7.31 crores as against Rs.6.93 crores during the previous year.

3. DEPOSITS:

The company has not accepted any fixed deposits from the public.

4. DIRECTORS:

Mr. T.N. Lakshmi Narayanan and Mr. Sudhir K. Patel retire by rotation and being eligible offer themselves for re appointment.

5. DIRECTORSRESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956, your Directors confirm:

1. That in the preparation of the annual accounts, the applicable accounting standards have been followed by your company.

2. That the Directors havft selected such accounting policies and applied them consistently and made judgements 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.

3. 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.

4. That the Directors have prepared the annual accounts on a going concern basis.

6. PARTICULARS OF EMPLOYEES:

Information as required under Section 217(2A) of the Companies Act, 1956 as amended is not applicable.

7. INFORMATION UNDER SECTION 217(1)(E)OF THE COMPANIES ACT, 1956 IS FURNISHED BELOW:

A. CONSERVATION OF ENERGY:

1. Used Hopper Dryers in place of tray dryers for preheating raw materials, thereby reducing energy losses.

2. Change of circuitry in the machines developed in house, which reduced units of power consumption.

3. Power saving equipments have been installed on machines and there has been considerable reduction in power consumption.

4. Heater insulation jackets have been provided on the machines to prevent the energy loss.

5. Timers have been installed to reduce the idlerunnini, of the motors preventing energy loss.

6. Natural lighting is being used in all new plants to avoid usage of Industrial Lamps in the day.

7. APFC Panels have been installed in all plants to maintain power factor thus ensuring efficient energy management.

B. TECHNOLOGY ABSORPTION: Not applicable

C. FOREIGN EXCHANGE EARNINGS AND OUTGO:

31.3.2009 31.3.2008 (Rs. in lakhs) (Rs. in lakhs)

Earnings 5.57

Expenditure 3.93 52.50

8. AUDITORS:

The Companys Statutory Auditors M/s. C.A.Patel & Patel, Chartered Accountants, Chennai retire at the conclusion of this Annual General Meeting and are eligible for reappointment.

9. ACKNOWLEDGEMENT:

Your Directors place on record their appreciation of the co-operation and efforts put in by the employees, suppliers, customers and assistance received from State Bank of India, Local Bodies and other Government authorities.

On behalf of the Board PLACE: CHENNAI For NATIONAL PLASTIC TECHNOLOGIES LTD.

DATE : 02/09/2009 Chairman



 
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