Mar 31, 2015
Dear Members,
The directors have pleasure in presenting you their 20th Annual Report
on the business and operations of the company together with the Audited
Financial Statement of the Company for the year ended 31st March 2015.
FINANCIAL RESULTS (STANDALONE): (INR in Lacs)
CURRENT YEAR PREVIOUS YEAR
31.03.2015 31.03.2014
Net Sale/Income from 31003.09 38391.60
Operations
Other Income 21.83 20.66
Total Income 31024.91 38412.26
Profit before Finance Charges, 1129.77 1013.22
Depreciation & Tax
Finance Charges 1015.94 888.42
Depreciation & Amortization 26.09 17.65
Profit Before Tax 87.74 107.14
Provision for Tax 28.11 34.66
Profit After Tax 59.63 72.47
Balance of Profit Brought 396.21 323.73
Forward
Balance available for 455.84 396.21
appropriation
Proposed Dividend on equity - -
shares
Tax on proposed Dividend - -
Transfer to General Reserve
Surplus carried to next year's 455.84 396.21
account
Earning Per Share(EPS) -
Basic 0.54 0.66
Diluted 0.54 0.66
DIVIDEND:
As company required funds for business and growth, no Dividend is
recommended for the year under review.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not
apply as there was no dividend declared and paid last year.
OPERATIONAL REVIEW:
The Turnover for the Financial Year ended on 31.03.2015 is Rs. 31003.09
Lacs as compared to 38391.60 Lacs last year. The Net Profit (Before
Tax) of the Company is Rs 87.74 Lacs as compared to 107.14 Lacs last
year. The company is engaged in marketing business of waste Paper,
finished Paper, steel etc. Steel Industry scenario is under global
recession since last year and paper Industry is also suffering in
present scenario of paper industry. Due to this recession, the turnover
of the company has fallen as compared to the last year and consequently
the net profit of the company has also dipped.
FUTURE PROSPECTS
India's paper industry is worth Rs. 225 billion. It accounts for about
1.6 per cent of the world's production of paper and paperboard. In
India, the demand for paper is set to far surpass supply and is
expected to reach the level of 110 lakh tones by 2015. It is said that
if the gross domestic product (GDP) grows at 10 per cent, paper demand
will grow at 8 per cent. The per capita consumption is poised for a big
leap forward in sync with the economic growth. A modest pick in the
Economy will boost the business of the company. Further, the company is
planning to explore new areas of expansion of its business.
MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION
OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH
THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT
No material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which
this financial statements relate on the date of this report.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS
IN FUTURE
There are no significant and material orders passed by the regulators
or courts or tribunals impacting the going concern status and company's
operations in future.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an Internal Control System, commensurate with the size,
scale and complexity of its operations. The Internal Audit Department
monitors and evaluates the efficacy and adequacy of internal control
system in the Company, its compliance with operating systems,
accounting procedures and policies at all locations of the Company and
its subsidiaries. Based on the report of internal audit function,
process owners undertake corrective action in their respective areas
and thereby strengthen the controls.
DEPOSITS
The Company has neither accepted nor renewed any deposits during the
year under review.
AUDITORS AND AUDITOR'S REPORT:
a) STATUTORY AUDITORS
M/s Goel Singhal & Associates, Chartered Accountants, Muzaffarnagar
were appointed as Statutory Auditors for a period of three years in the
Annual General Meeting held on 30/09/2014. Their continuance of
appointment and payment of remuneration are to be confirmed and
approved in the ensuing Annual General Meeting. The Company has
received a certificate from the above Auditors to the effect that if
they are reappointed, it would be in accordance with the provisions of
Section 141 of the Companies Act, 2013.
The Notes on financial statement referred to in the Auditors' Report
are self-explanatory and do not call for any further comments. The
Auditors' Report does not contain any qualification, reservation or
adverse remark.
b) SECRETARIAL AUDITORS
Pursuant to the provisions of Section 204 of the Companies Act, 2013
and the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, the Company has appointed Shailly Goel & Co.,
Company Secretaries to undertake the Secretarial Audit of the company.
The Secretarial Audit Report is annexed herewith as 'Annexure 1'. The
Board noted the Observation made in the Secretarial Audit Report and
explained that there was 'search and seizure' operation by the
Department of Income Tax on March 07, 2014 under section 132 of the
Income Tax Act, 1961. During these operations, certain books of
accounts and records were seized by the authorities. Due to this
operation, company could not provide the Audited results to Stock
Exchange as per listing Agreement. However, the approval of Accounts
was in compliance with the Companies Act, 2013.
SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
No company has become or ceased to be the Subsidiary, Joint Venture And
Associate Company of the company during the Financial Year.
As on 31/03/2015, there were two Associate companies:
1) Brinagopal Traders Pvt Ltd
2) Swabhiman Vyapaar Pvt Ltd.
The statement containing silent feature of the financial statement of
associate company is annexed in financial statement.
SHARE CAPITAL
The paid up equity share capital as on 31/03/2015 was Rs.
11,00,00,000/- Crore. Further the company has not bought back any of
its securities, has not issued any Sweat Equity Shares, has not
provided any Stock Option Scheme to the employees and no Bonus Shares
were issued during the year under review.
EXTRACT OF ANNUAL RETURN
The extracts of Annual Return pursuant to the provisions of Section 92
read with Rule 12 of the Companies (Management and administration)
Rules, 2014 is furnished in Annexure II and is attached to this Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO ETC:
Information on conservation of Energy, Technology absorption, Foreign
Exchange earnings and outgo required to be disclosed under Section 134
of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014
are provided hereunder :
(A) Conservation of Energy :
All efforts are made to conserve and optimize use of energy with
continuous monitoring and to reduce its electricity consumption during
the financial year.
(B) Technology absorption :
Since the company is involved in the trading activities, no specific
expenses are made towards technology absorption during the financial
year.
(C) Foreign exchange earnings and Outgo :
There is no Foreign exchange earnings of the company during the
financial year. However, there was outflow of Rs. 12,65,481/- (USD
20677.80) during the year.
DIRECTORS AND KEY MANAGERIAL PERSONNEL:
At the 19th Annual General Meeting of the company held on 30/09/2014,
Mr. Shubhakar Pathak, Mr. Ankur Sangal and Ms. Sonal have been
appointed as Non-Executive Independent directors of the company for the
term of 5 years with effect from 30th September, 2014 upto 29th
September, 2019. The members also approved the reappointment of Mr.
Deepak Goel and Mr. Praveen Kumar Goel as Whole Time Directors of the
company.
The company has received the declarations from all the Independent
directors confirming that they meet the criteria of independence as
provided under Section 149(6) of the Companies Act, 2013 and Clause 49
of the Listing Agreement.
In accordance with the provisions of Companies Act, 2013 and Articles
of Association of the Company, Mr. Amit Agarwal, Director of the
Company retire by rotation at the ensuing Annual General meeting and
being eligible offer himself for re-appointment.
Mr. Biresh Kumar Dass was appointed as Company Secretary on 01/04/2014
and Mr. Vipin Kumar Goel was appointed as Chief Financial Officer of
the company on 04/10/2014.
a) Board Evaluation
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out an annual performance
evaluation of its own performance and the directors individually. The
manner in which the evaluation has been carried out has been explained
in the Corporate Governance Report.
b) Remuneration Policy
The Board has, on the recommendation of the Nomination & Remuneration
Committee framed a policy for selection and appointment of Directors,
Senior Management and their remuneration. The Remuneration Policy is
stated in the Corporate Governance Report.
c) Meetings
During the year twenty Board Meetings and one independent directors'
meeting was held. The Details of which are given in Corporate
Governance Report. The provisions of Companies Act, 2013 and listing
agreement were adhered to while considering the time gap between two
meetings.
VIGIL MECHANSIM
Pursuant to clause 49 of the Listing Agreement and as per Section 177
of the Companies Act, 2013 the company has established a vigil
mechanism/Whistle Blower policy for the directors and employees to
report genuine concerns or grievances about unethical behavior, actual
or suspected fraud or violation of the company's Code of Conduct or
Ethics Policy. The Vigil Mechanism Policy has been uploaded on the
website of the Company at
http://www.neeraipaper,com/index.php?page=vigil mechanism.
COMMITEES OF THE BOARD
a) AUDIT COMMITTEE
During the year, the company reconstituted the Audit committee
comprising of the following directors:
Mr. Ankur Sangal (Non- Executive, Independent Director) - Chairman
Ms. Sonal (Non- Executive, Independent Director) - Member
Mr. Amit Agarwal (Non-Executive Director) - Member
All the recommendations made by Audit committee were accepted by the
Board.
b) NOMINATION AND REMUNERATION COMMITTEE
During the year, the company reconstituted the Nomination and
Remuneration Committee comprising of the following directors:
Mr. Ankur Sangal (Non- Executive, Independent Director) - Chairman Ms.
Sonal (Non- Executive, Independent Director) - Member Mr. Amit Agarwal
(Non-Executive Director) - Member
c) STAKEHOLDER RELATIONSHIP COMMITTEE:
Pursuant to the provisions of Section 178 of the Companies Act, 2013,
the Board has constituted Shareholder Grievance & Transfer Committee as
Stakeholder Relationship Committee comprising of the following
directors:
Mr. Amit Agarwal - Chairman
Mr. Deepak Goel - Member
The committee specifically looks into the redressing of the
Shareholder/ Investor complaints like non-receipt of share certificate
after transfer, non-receipt of Annual Report, and to approve the share
transfer. The Board has designated the company secretary of the company
as the compliance officer.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186
OF THE COMPANIES ACT, 2013
There were no loans, guarantees or investments made by the Company
under Section 186 of the Companies Act, 2013 during the year under
review and hence the said provision is not applicable. However, detail
of guarantees or investment which are outstanding as on 31/03/2015 is
provided in the Notes to the Financial Statements.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES
All contracts / arrangements / transactions entered by the Company
during the financial year with related parties were in the ordinary
course of business and on an arm's length basis. There are no
materially significant related party transactions made by the Company
with Promoters, Directors, Key Managerial Personnel or other designated
persons which may have a potential conflict with the interest of the
Company at large.
All Related Party Transactions are placed before the Audit Committee
and also the Board for approval.
The policy on Related Party Transactions as approved by the Board is
uploaded on the Company's website under the link at
http://www.neeraipaper.com/index,php?page=code conduct.
Particulars of contracts or arrangements or transactions in Form AOC-2
is attached as Annexure III.
MANAGERIAL REMUNERATION
Disclosure under Rule 5 of Companies (Appointment and Remuneration)
Rules, 2014 is attached as Annexure IV.
RISK MANAGEMENT POLICY
In accordance with Companies Act, 2013 and Clause 49 of the listing
agreement the Board members were informed about risk assessment and
minimization procedures after which the Board formally adopted steps
for framing, implementing and monitoring the risk management plan for
the company.
The main objective of this policy is to ensure sustainable business
growth with stability and to promote a pro- active approach in
reporting, evaluating and resolving risks associated with the business.
In order to achieve the key objective, the policy establishes a
structured and disciplined approach to Risk Management, in order to
guide decisions on risk related issues.
In today's challenging and competitive environment, strategies for
mitigating inherent risks in accomplishing the growth plans of the
Company are imperative. The common risks inter alia are: Regulations,
competition, Business risk, Investments, retention of talent and
expansion of facilities. Business risk, inter-alia, further includes
financial risk, political risk, fidelity risk, legal risk.
As a matter of policy, these risks are assessed and the company has not
identified any element of risk which may threaten the existence of the
company.
CORPORATE SOCIAL RESPONSIBILITY
As per Companies Act, 2013, provisions of Corporate Social
Responsibility is not applicable to the company.
DIRECTORS' RESPONSIBILITY STATEMENT:
In terms of Section 134 (5) of the Companies Act, 2013, the directors
would like to state that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed.
ii) The directors have selected such accounting policies and applied
them consistently and made judgments 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 of the profit or
loss of the Company for the year under review.
iii) The directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
iv) The directors have prepared the annual accounts on a going concern
basis.
v) 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.
vi) The directors had devised proper system to ensure compliance with
the provisions of all applicable laws and that such system were
adequate and operating effectively.
PARTICULARS OF EMPLOYEES:
During the year, there is no employee drawing remuneration in excess of
the limits specified under Companies Act, 2013 and rules made
thereunder .
Internal Complaint Committee
Your Directors further state that during the year under review, there
were no cases filed pursuant to the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013.
CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS REPORTS
The Corporate Governance and Management Discussion & Analysis Report,
which form an integral part of this Report are set out as separate
Annexures, together with the Certificate from the auditors of the
Company regarding compliance with the requirements of Corporate
Governance as stipulated in Clause 49 of the Listing Agreement.
ACKNOWLEGEMENT:
Your Directors take this opportunity to convey their deep sense of
gratitude for valuable assistance and Co- Operation extended to the
Company by all valued Customers, Bankers and various departments of
government and local authorities.
Your Directors also wish to place on record their sincere appreciation
for the valued contribution, unstinted efforts and spirit of dedication
shown by the employees, officers and the executives at all levels which
contributed, in no small measure, to the progress and the high
performance of the Company during the Year under review.
On behalf of the Board
For NEERAJ PAPER MARKETING LIMITED
Sd/-
DATED: 14th August, 2015 DEEPAK GOEL
PLACE: DELHI (CHAIRMAN)
Mar 31, 2014
Dear Members,
The directors have pleasure in presenting you their 19th Annual Report
together with the Audited Statement of Accounts of the Company for the
year ended 31st March 2014.
The working of the company during the year under review has been
highlighted below:
1. FINANCIALRESULTS:
(INR in Lacs)
CURRENT YEAR PREVIOUS YEAR
31.032014 31.03.2013
Net Sale/Income from 38391.60 43665.00
Operations
Other Income 20.66 18.03
Total Expenditure 37399.04 42543.36
Profit before Finance Charges 1013.22 1139.67
& Depreciation
Finance Charges 888.42 994.90
Depreciation & Amortization 17.65 15.12
Profit Before Tax 107.14 129.65
Provision for Tax 34.66 43.01
Profit After Tax 72.47 86.64
Paid-Up Share
Capital 1100.00 1100.00
Reserve & Surplus 1327.96 1255.49
Book Value per share 22.07 21.41
2. PROGRESS & PROSPECT:
The Turnover for the Financial Year ended on 31.03.2014 is Rs. 38391.60
Lacs as compared to 43665 Lacs last year. The Net Profit (Before Tax)
of the Company is Rs 107.14 Lacs as compared to 129.65 Lacs last year.
3. DIVIDEND
As company required funds for business and growth, no Dividend is
recommended for the year under review.
4. AUDITORS:
M/s Goel Singhal & Associates, Chartered Accountants, Muzaffarnagar
retire at the ensuing Annual General Meeting and being eligible offer
themselves for reappointment.
5. AUDITORS REPORT:
The notes to the accounts referred to in Auditors Report are self
explanatory and, therefore, do not call for any further explanation
Under Section 217(3) of the Companies Act, 1956.
6. DIRECTORS:
Pursuant to Section 149 of the Companies Act, 2013, the Board at its
meeting held on 2nd September, 2014 recommended appointment of Mr.
Shubhakar Pathak and Mr. Ankur Sangal as Independent Directors of the
Company, not liable to retire by rotation for a period of five years
from the date of its 19th Annual General Meeting subject to approval of
the Members of the Company. These Directors have given the declarations
to the Board that they meet the criteria of independence as provided
under Section 149(6) of the said Act and also confirmed that they will
abide by the provisions as mentioned in Schedule IV of the Companies
Act, 2013.
In accordance with the provisions of Companies Act, 2013 and Articles
of Association of the Company, Mr. Praveen Kumar Goel, Director of the
Company retire by rotation at this meeting and being eligible offer
himself for re-appointment.
As per the requirement of Companies Act, 2013, every listed company is
required to appoint a woman Director on the Board of the company. The
company is also required to appoint an independent director as per the
provisions of Clause 49 of Listing Agreement. The Board of Directors of
the Company at their meeting held on 2nd September, 2014 formed an
opinion that Ms. Sonal is person of integrity and possesses relevant
expertise and experience for being appointed as an Independent Director
of the Company. The Company has received a notice in writing from a
member proposing her candidature for the office of Director.
The Board recommends the resolutions for your approval for the above
appointments.
7. DEPOSITS:
The Company has not accepted any deposits from the public within the
meaning of section 58-A of the Companies Act, 1956 and rules framed
there under.
8. MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
As required under clause 49 of the Listing Agreement with the Stock
Exchanges, Management Discussion and Analysis Report forms part of this
report and is annexed herewith
9. 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:
(i) That in the preparation of the accounts for the financial year
ended 3 Ist March, 2014; the applicable accounting standards have been
followed along with proper explanation relating to material departures;
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments 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 of the
profit or loss of the Company for the year under review;
(iii) 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;
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2014 on a "going concern'basis.
10. PARTICULARS OF EMPLOYEES:
During the year, there has been no employee in receipt of remuneration
in excess of the amount mentioned under section 217(2A) of the
Companies Act, 1956.
11. AUDIT COMMITTEE:
The Board of the Company has constituted an Audit Committee consisting
of three directors viz: Mr. ShubhakarPathak - Chairman Mr.AmitAgarwal -
Member
Mr.AnkurSangal - Member
The terms of reference stipulated by the Board to the audit committee
and includes
- review the Company's financial reporting process and its financial
statements,
- review the accounting and financial policies,
-review the efficacy ofthe internal control mechanism and monitor risk
management,
-review the reports furnished by internal and statutory auditors and
ensure that suitable follow up & action is taken, - examine
accountancy, taxation and disclosure aspects of all significant
transaction.
12. NOMINATION AND REMUNERATION COMMITTEE:
Pursuant to the provisions of Section 178 ofthe Companies Act, 2013,
the Board ofthe company has constituted a Nomination and Remuneration
Committee consisting of three directors:
Mr. Shubhakar Pathak - Chairman Mr. Amit Agarwal - Member
Mr. Ankur Sangal - Member
Role ofNomination and Remuneration Committee:
(1) The Nomination and Remuneration Committee shall identify persons
who are qualified to become directors and who may be appointed in
senior management in accordance with the criteria laid down, recommend
to the Board their appointment and removal and shall carry out
evaluation of every director's performance.
(2) The Nomination and Remuneration Committee shall formulate the
criteria for determining qualifications, positive attributes and
independence of a director and recommend to the Board a policy,
relating to the remuneration for the directors, key managerial
personnel and other employees.
13. STAKEHOLDER RELATIONSHIP COMMITTEE:
Pursuant to the provisions of Section 178 ofthe Companies Act, 2013,
the Board has reconstituted Shareholder Grievance & Transfer Committee
as Stakeholder Relationship Committee comprising ofthe following
directors:
Mr. Amit Agarwal - Chairman
Mr. Deepak Goel - Member
The committee specifically looks into the redressing ofthe Shareholder/
Investor complaints like non-receipt of share certificate after
transfer, non-receipt of Annual Report, and to approve the share
transfer. The Board has designated the company secretary ofthe company
as the compliance officer.
14. CORPORATE GOVERNANCE
Particulars & Disclosers attached.
15. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION:
The Company being engaged in trading activities only, the requirements
for disclosure of particulars with respect to Conservation of energy &
Technology absorption are not applicable to the company.
16. FOREIGN EXCHANGE:
During the year under review, the company has not used or earned any
foreign exchange.
17. ACKNOWLEGEMENT:
Your Directors take this opportunity to convey their deep sense of
gratitude for valuable assistance and Co- operation extended to the
Company by all valued Customers, Bankers and various departments of
government and local authorities.
Your Directors also wish to place on record their sincere appreciation
for the valued contribution ,unstinted efforts and spirit of dedication
shown by the Company employees, officers and the executives at all
levels which contributed, in no small measure, to the progress and the
high performance of the Company During the Year under review.
DATED: 2ndSEPTEMBER, 2014 On behalf of the Board
PLACE: DELHI For NEERAJ PAPER MARKETING LIMITED
Sd/-
DEEPAK GOEL
(CHAIRMAN)
Mar 31, 2013
Dear Members,
The directors have pleasure in presenting you their 18th Annual Report
together with the Audited Statement of Accounts of the Company for the
year ended 31st March 2013.
The working of the company during the year under review has been
highlighted below:
1. FINANCIAL RESULTS: (INR in Lacs)
CURRENT YEAR PREVIOUS YEAR
31.03.2013 31.03.2012
Net Sale/Income from
Operations 43665.00 25479.60
Other Income 18.03 5.65
Total Expenditure 42543.36 24820.31
Profit before Finance
Charges & Depreciation 1139.67 664.94
Finance Charges 994.90 531.30
Depreciation & Amortization 15.12 13.73
Profit Before Tax 129.65 119.91
Provision for Tax 43.01 39.75
Profit After Tax 86.64 80.16
Reserve & Surplus
Book Value per share 21.41 1910
2. PROGRESS & PROSPECT:
This year is a great year for the Company the Company utilized total
working capital and beats its estimates. The Turnover for the Financial
Year ended on 31.03.2013 is Rs. 43665.00 Lacs, which is an increase of
71.37% compared to last year and 104% of projected turnover. The Net
Profit (Before Tax) of the Company is Rs 129.64 Lacs, which is an
increase of 8.16% compared to last year.
3. DIVIDEND
As Company required funds for business and growth, no Dividend is
recommended for the year under review
4. AUDITORS :
M/s Goel Singhal & Associates, Chartered Accountants, Muzaffarnagar
retire at the ensuing Annual General Meeting and being eligible offer
themselves for reappointment.
5. AUDITORS REPORT :
The notes to the accounts referred to in Auditors Report are self
explanatory and, therefore, do not call for any further explanation
under Section 217(3) of the Companies Act, 1956.
6. DIRECTORS :
In accordance with the provisions of Companies Act, 1956 and Articles
of Association of the Company, Mr. Amit Agarwal and Mr. Ankur Sangal,
Directors of the Company retire by rotation at this meeting and being
eligible offer himself for re-appointment.
7. DEPOSITS :
The Company has not accepted any deposits from the public within the
meaning of section 58-A of the Companies Act, 1956 and rules framed
there under.
8. MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
As required under clause 49 of the Listing Agreement with the Stock
Exchanges, Management Discussion and Analysis Report forms part of this
report and is annexed herewith
9. 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:
(i) That in the preparation of the accounts for the financial year
ended 31st March, 2013; the applicable accounting standards have been
followed along with proper explanation relating to material departures;
(ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments 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 of the
profit or loss of the Company for the year under review;
(iii) 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;
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2013 on a 'going concern' basis.
10. PARTICULARS OF EMPLOYEES:
During the year, there has been no employee in receipt of remuneration
in excess of the amount mentioned under section 217(2A) of the
Companies Act, 1956.
11. AUDIT COMMITTEE:
The Board of the Company has constituted an Audit Committee consisting
of three directors viz:
Mr. Shubhakar Pathak, Chairman, and members are: Mr. Deepak Goel, Mr.
Ankur Sangal
The terms of reference stipulated by the Board to the audit committee
and includes
-review the Company's financial reporting process and its financial
statements,
-review the accounting and financial policies,
-review the efficacy of the internal control mechanism and monitor risk
management,
-review the reports furnished by internal and statutory auditors and
ensure that suitable follow up & action
is taken,
-examine accountancy, taxation and disclosure aspects of all
significant transaction.
12. CORPORATE GOVERNANCE - Particulars & Disclosers attached.
13. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION :
The Company being engaged in trading activities only, the requirements
for disclosure of particulars with respect to Conservation of Energy &
Technology absorption are not applicable to the company.
14. FOREIGN EXCHANGE :
During the year under review, the Company has not used or earned any
foreign exchange.
15. ACKNOWLEGEMENT :
Your Directors take this opportunity to convey their deep sense of
gratitude for valuable assistance and Co- Operation extended to the
Company by all valued Customers, Bankers and various departments of
government and local authorities.
Your Directors also wish to place on record their sincere appreciation
for the valued contribution ,unstinted efforts and spirit of dedication
shown by the Company employees, officers and the executives at all
levels which contributed , in no small measure to the progress and the
high performance of the Company during the year under review.
On behalf of the Board
For NEERAJ PAPER MARKETING LIMITED
Sd/-
DEEPAK GOEL
DATED: 30th May, 2013 (CHAIRMAN)
PLACE: Delhi
Mar 31, 2012
Dear Members,
The directors have pleasure in presenting you their 17th Annual Report
together with the Audited Statement of Accounts of
the Company for the year ended 31st March 2012.
The working of the company during the year under review has been
highlighted below:
1. FINANCIAL RESULTS:
(INRinLacs)
CURRENT YEAR PREVIOUS YEAR
31.03.2012 31.03.2011
Net Sale/Income from 25479.60 8372.04
Operations
Other Income 5.65 0.33
Total
Expenditure 24820.31 8088.81
Gross Profit before Finance 664.94 283.56
Charges & Depreciation
Finance Charges 531.30 191.34
Depreciation & Amortization 13.73 10.76
Profit Before Tax 119.91 81.46
Provision for Tax 39.75 25.48
Profit After Tax 80.16 55.98
Paid-Up Share Capital 814.29 314.29
Reserve & Surplus 740.28 160.12
Book Value per share 19.10 15.10
2. PROGRESS PROSPECT
The performance of the company is excellent; it has achieved its
Projected Turnover with Net Sales/Income from Operations of Rs.
25479.60 Lacs during the current year, an increase of 304.34% compared
to last year. The Net Profit (Before Tax) of the Company is Rs 119.86
Lacs, which is an increase of 147.13% compared to Last year. For
Current Financial year (2012-13) the Company has set-out its target of
sales Rs.417 Crores.
4. DIVIDEND
As company required funds for business and growth, no Dividend is
recommended for the year under review.
5. AUDITORS:
M/s Goel Singhal & Associates, Chartered Accountants, Muzaffarnagar
retire at the ensuing Annual General Meeting and being eligible offer
themselves for reappointment.
6. AUDITORS REPORT:
The notes to the accounts referred to in Auditors Report are self
explanatory and, therefore, do not call for any further explanation
Under Section 217(3) of the Companies Act, 1956.
7. DEFECTORS:
In accordance with the provisions of Companies Act, 1956 and Articles
of Association of the Company, Mr. Parveen Kumar Goel, Director of the
Company retire by rotation at this meeting and being eligible offer
himself for re- appointment.
8. DEPOSITS:
The Company has not accepted any deposits from the public within the
meaning of section 58-A of the Companies Act, 1956 and rules framed
there under.
9. MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
As required under clause 49 of the Listing Agreement with the Stock
Exchanges, Management Discussion and Analysis Report forms part of this
report and is annexed herewith
10. 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:
(i) That in the preparation of the accounts for the financial year
ended 31st March, 2012; the applicable accounting standards have been
followed along with proper explanation relating to material departures;
(ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments 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 of the
profit or loss of the Company for the year under review;
(iii) 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;
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2012 on a' going concern 'basis.
11. PARTICULARS OF EMPLOYEES:
During the year, there has been no employee in receipt of remuneration
in excess of the amount mentioned under section 217(2A) of the
Companies Act, 1956.
12. AUDIT COMMITTEE:
The Board of the Company has constituted an Audit Committee consisting
of three directors viz:
Mr. Shubhakar Pathak, Chairman,
and members are:
Mr. Deepak Goel, ,
Mr. Ankur Sangal
The terms of reference stipulated by the Board to the audit committee
and includes-review the Company's financial reporting process and its
financial statements'-review the accounting and financial
policies,-review the efficacy of the internal control mechanism and
monitor risk management, -review the reports furnished by internal and
statutory auditors and ensure that suitable follow up & action is
taken, -examine accountancy, taxation and disclosure aspects of all
significant transaction.
13. CORPORATE GOVERNANCE-Particulars & Disclosers attached.
14. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION:
The Company being engaged in trading activities only, the requirements
for disclosure of particulars with respect to Conservation of energy &
Technology absorption are not applicable to the company.
15. FOREIGN EXCHANGE:
During the year under review, the company has not used or earned any
foreign exchange.
16. ACKNOWLEDGMENT:
Your Directors take this opportunity to convey their deep sense of
gratitude for valuable assistance and Co- operation extended to the
Company by all valued Customers, Bankers and various departments of
government and local authorities.
Your Directors also wish to place on record their sincere appreciation
for the valued contribution ,unstinted efforts and spirit of dedication
shown by the Company employees, officers and the executives at all
levels which contributed , in no small measure , to the progress and
the high performance of the Company During the Year under review.
On behalf of the Board
DATED: 28th May, 2012 For NEERAJ PAPER MARKETING LIMITED
PLACE: DELHI
Sd/-
DEEPAKGOEL
(CHAIRMAN)
Mar 31, 2011
Dear Members,
The directors have pleasure in presenting you their 16th Annual Report
together with the Audited Statement of Accounts of the Company for the
year ended 31st March 2011.
The working of the company during the year under review has been
highlighted below:
1. FINANCIAL RESULTS:
(Rs. in Lacs)
CURRENT YEAR PREVIOUS YEAR
31.03.2011 31.03.2010
Net Sale/Income from
Operations 8372.04 3580.25
Other Income 0.33 5.23
Total Expenditure 8089.58 3474.59
Gross Profit Before
Finance Charges &
Depreciation 282.79 110.89
Finance Charges 191.34 65.57
Depreciation 9.99 9.35
Profit Before Tax 81.46 35.97
Income tax Refund - -
Provision for Taxation
-Current Tax 25.73 11.62
-Provision for taxation
written back - -
-Fringe Benefit Tax - -
-Deferred Tax (0.25) (0.04)
Profit After Tax 55.98 24.39
Paid-Up Share Capital 314.29 314.29
Reserve & Surplus 160.12 104.14
Book Value per share 15.10 13.31
2. PROGRESS & PROSPECT:
The performance of the company is excellent; it has achieved its
Projected Turnover with Net Sales/Income from Operations of Rs. 8372.04
Lacs during the current year, an increase of 133.84% compared to last
year. The Net Profit (Before Tax) of the Company is Rs 81.46 Lacs,
which is an increase of 126.47% compared to Last year.
The company is working on expansion of its trading business and opened
branches in different places and projected turnover for the next
financial is Rs. 600 Crores and above. Keeping view of the expansion
plan the company arranged working capital facilities from public sector
banks and issued further Equity Shares on preferential basis subject to
the approval of the Stock Exchanges and concerned authorities.
The expansion of business includes marketing of Kraft Paper, Duplex
Board, and Poster Paper, Writing Paper etc of some other well
established and reputed Paper Manufacturing Companies along with the
existing companies and by opening marketing offices throughout the
country. The Branches opened at Faridabad, Baddi (HP), Kashipur,
Jamshedpur and Patna and to be opened at such other places to achieve
the projected target of next 3years.
4. DIVIDEND
As company required funds for business and growth, no Dividend is
recommended for the year under review.
5. AUDITORS:
M/s Goel Singhal & Associates, Chartered Accountants, Muzaffarnagar
retire at the ensuing Annual General Meeting and being eligible offer
themselves for reappointment.
6. AUDITORS REPORT:
The notes to the accounts referred to in Auditors Report are self
explanatory and, therefore, do not call for any further explanation
Under Section 217(3) of the Companies Act, 1956.
7. DIRECTORS:
In accordance with the provisions of Companies Act, 1956 and Articles
of Association of the Company, Mr. Amit Aggarwal, Director of the
Company retire by rotation at this meeting and being eligible offer
himself for re- appointment. Mr. Ankur Sangal has been appointed as
Director w.e.f from 09.04.2011.
8. DEPOSITS:
The Company has not accepted any deposits from the public within the
meaning of section 58-A of the Companies Act, 1956 and rules framed
there under.
9. MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
As required under clause 49 of the Listing Agreement with the Stock
Exchanges, Management Discussion and Analysis Report forms part of this
report and is annexed herewith
10. 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:
(i) That in the preparation of the accounts for the financial year
ended 31st March, 2011, the applicable accounting standards have been
followed along with proper explanation relating to material departures;
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments 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 of the
profit or loss of the Company for the year under review;
(iii) 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;
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2011 on a Rs,going concern' basis.
11. PARTICULARS OF EMPLOYEES:
During the year, there has been no employee in receipt of remuneration
in excess of the amount mentioned under section 217(2A) of the
Companies Act, 1956.
12. AUDIT COMMITTEE:
The Board of the Company has constituted an Audit Committee consisting
of three directors viz:
Mr. Shubhakar Pathak, Chairman, and members are:
Mr. Deepak Goel, Mr. Amit Agarwal
The terms of reference stipulated by the Board to the audit committee
and includes -review the Company's financial reporting process and its
financial statements, -review the accounting and financial policies,
-review the efficacy of the internal control mechanism and monitor risk
management,
-review the reports furnished by internal and statutory auditors and
ensure that suitable follow up & action is taken,
-examine accountancy, taxation and disclosure aspects of all
significant transaction.
13. CORPORATE GOVERNANCE - Particulars & Disclosers attached.
14. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION:
The Company being engaged in trading activities only, the requirements
for disclosure of particulars with respect to Conservation of energy &
Technology absorption are not applicable to the company.
15. FOREIGN EXCHANGE:
During the year under review, the company has not used or earned any
foreign exchange.
16. ACKNOWLEGEMENT:
Your Directors take this opportunity to convey their deep sense of
gratitude for valuable assistance and Co- Operation extended to the
Company by all valued Customers, Bankers and various departments of
government and local authorities.
Your Directors also wish to place on record their sincere appreciation
for the valued contribution ,unstinted efforts and spirit of dedication
shown by the Company employees, officers and the executives at all
levels which contributed , in no small measure , to the progress and
the high performance of the Company During the Year under review.
On behalf of the Board
For NEERAJ PAPER MARKETING LIMITED
Sd/-
DEEPAK GOEL
DATED: 8th July, 2011 (CHAIRMAN)
PLACE: DELHI
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