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Directors Report of O P Chains Ltd.

Mar 31, 2013

Dear Members,

The Directors present The Annual Report together with the Audited Accounts of the Company for the year ended 31st March 2013.

FINANCIAL RESULTS

The financial highlights of the company are as under :-

Particulars Note No



1. Revenue from operations M

II. other Income N

III. Total Revenue (I II)

IV. Eexpenses:

Cost of materials consumed

Purchase of Stock-in-Trade O

Changes in inventories of' finished,goods, work-in-progress and stock-in-Trade P

Employee benefit expense O

Financial costs R

Depredation and amortization expense F

Other expenses S

Total Expenses

V. Profit before exceptional and extraordinary items and tax (III-IV)

VI. Exceptional Items

VII. Profit before extraordinary items and tax (V - VI)

VIII. Extraordinary Items

IX. Profit before tax (VII - VIII)

X. Tax expense:

(11 current tax

(2) Deferred tax

XI. Profit(Loss)Trori the perid from continuing operations (IX-X)

XII, Profit/(Loss) from discontinuing operations

XIll. Tax expense of discounting operators

XIV. Profit/(Loss) from Discontinuing operations (XII - XIII)

XV Proft/(Loss) for the period (XI XIV)

XVI. Earning per equity sharer



Particulars As at 31ST MARCH,2013 Rupees

1. Revenue from operations 2,395,603,360.38

II. other Income 206, 730.35

III. Total Revenue (I II) 2,355,10,111.33

IV. Eexpenses:

Cost of materials consumed

Purchase of Stock-in-Trade 2,383,242,916.55

Changes in inventories of' finished,goods, work-in-progress and stock-in-Trade 1,395,619.68

Employee benefit expense 4,249,900.00

Financial costs 3,322,001.38

Depredation and amortization expense 1,514,784.00

Other expenses 1,751,421.33

Total Expenses 2,300,476,642,92

V. Profit before exceptional and extraordinary items and tax 333,460.41

VI. Exceptional Items -

VII. Profit before extraordinary 333,488.41 items and tax (V - VI)

VIII. Extraordinary Items -

IX. Profit before tax (VII - VIII) 333,468.41

X. Tax expense:

(11 current tax 245,930.00

(2) Deferred tax (10,320.00)

XI. Profit(Loss)Trori the perid from continuing operations 97,858.41

XII, Profit/(Loss) from discontinuing - operations

XIll. Tax expense of discounting operators -

XIV. Profit/(Loss) from Discontinuing operations (XII - XIII) -

XV Proft/(Loss) for the period (XI XIV) 97,858.41

XVI. Earning per equity sharer 0.02



Particulars As at 31st March,2012 Rupees

1. Revenue from operations 5,92,1,821,380.72

II. other Income 2,276,651.65

III. Total Revenue (I II) 5,924,098,031 74

IV. Eexpenses:

Cost of materials consumed

Purchase of Stock-in-Trade 5,905,756,719.68

Changes in inventories of' finished,goods, work-in-progress and stock-in-Trade 4,767.413.23

Employee benefit expense 4,483.500.00

Financial costs 316,221.00

Depredation and amortization expense 1,293,093-00

Other expenses 1,043,534.91

Total Expenses 5,917,642,482,12

V. Profit before exceptional and extraordinary items and tax 0,455,549.62

VI. Exceptional Items -

VII. Profit before extraordinary 6,455,549.62 items and tax (V - VI)

VIII. Extraordinary Items -

IX. Profit before tax (VII - VIII) 6,455,549.62

X. Tax expense:

(11 current tax 2,004,168.00

(2) Deferred tax (22,800.00)

XI. Profit(Loss)Trori the perid from continuing operations 4,474,181.62

XII, Profit/(Loss) from discontinuing - operations

XIll. Tax expense of discounting operators -

XIV. Profit/(Loss) from Discontinuing operations (XII - XIII) -

XV Proft/(Loss) for the period (XI XIV) 4,474,181.62

XVI. Earning per equity sharer 0.69

DIVIDEND

Your company does not recommend any dividend

DEPOSITS

The company has not accepted any deposits under the purview of the provisions of the Companies Act, 1956.

DIRECTORS

There is no change in the directorship of the company since last Annual General Meeting. Shri Satish Kumar Goyal, director of the company liable to retire by rotation shall be retired at the commencement of the forth coming annual general meeting who has offered himself for re- appointment.

AUDITORS

The retiring auditors M/s B P N & Company, B. Floor, Padamdeep Tower, Sanjay Place Agra- 282002 required to be re-appointed as Auditors of the company, to hold the office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the company, at such remuneration as may be fixed by the Board of Directors, from time to time and reimbursement of out-of-pocket expenses incurred by them to carry out the audit

DIRECTORS' RESPONSIBILITY STATEMENT

As required under Section 217(2AA) of the Companies Act 1956, your Directors state that:

i) in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed and that no material departures have been made from the same;

ii) they 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 financial year and of the profit and loss of the Company for the period;

iii) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance of the provisions of the Companies Act, 1956 for safe guarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

iv) they have prepared the annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES

During the year under review, there were no employees covered under the provisions of Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

APPRECIATION

Your Directors wish to express their appreciation of the valuable services rendered by the management, staff and workmen of their devotion and entering efforts for improving the operation of the company. Your Directors express their sincere appreciation and thanks to various departments, of Central Government, Financial Institutions, Banks and investors for their continued valuable support, confidence and assistance.

Place: Agra By Order Of The Board Date. 02.09.2013 For O.P. Chains Limited

Chairman


Mar 31, 2011

Dear Members,

The Directors present The Annual Report together with the Audited Accounts of the Company for the year ended 31st March 2011.

FINANCIAL RESULTS

The financial highlights of the company are as under:-

PARTICULARS CURRENT YEAR PREVIOUS YEAR (Year 2011) (Year 2010) (Rs. In Lacs) (Rs. In Lacs)

Sales & Other Income 33814.81 56782.86

Profit before Financial Charges 82.31 612.12

And Depreciation

Less: Depreciation 9.63 8.74

Less: Financial Charges 1.48 495.24

Profit Before Tax 71.20 108.14

Provision for Tax 31.90 30.56

Profit Carried To Balance Sheet 39.29 77.58

Reserve & Surplus 2242.97 2098.00

DIVIDEND

Your company does not recommend any dividend

DEPOSITS

The company has not accepted any deposits under the purview of the provisions of the Companies Act, 1956.

DIRECOTRS

There is no change in the directorship of the company since last Annual General Meeting. Shri Satish Kumar Goyal, director of the company liable to retire by rotation shall be retired at the commencement of the forth coming annual general meeting who has offered himself for re¬appointment.

SURRENDER OF MCX REGISTRATION

The company has surrendered the registration of MCX membership on 31st of August 2011 for which the company has taken steps for deregistration of the membership.

CLOSURE OF AHMEDABAD BRANCH OF THE COMPANY

The Company has dosed its Ahmadabad branch due to non-business activities.

AUDITORS

M/s H K Chaudhry & Company, 105, Anand Vindravan, Sanjay Place Agra-282002, was appointed as Statutory Auditors of the company in the last Annual General Meeting and due to his inability to continue as auditors of the company he tendered his resignation and M/s B P N & Company, B. Floor, Padamdeep Tower, Sanjay Place Agra-282002 has been appointed as statutory auditors of the company.

The retiring auditors M/s B P N & Company, B. Floor, Padamdeep Tower, Sanjay Place Agra-282002 required to be re-appointed as Auditors of the company, to hold the office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the company, at such remuneration as may be fixed by the Board of Directors, from time to time and reimbursement of out-of-pocket expenses incurred by them to carry out the audit

DIRECTORS'' RESPONSIBILITY STATEMENT

As required under Section 217(2AA) of the Companies Act 1956, your Directors state that:

i) in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed and that no material departures have been made from the same;

ii) they 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 financial year and of the profit and loss of the Company for the period;

iii) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance of the provisions of the Companies Act, 1956 for safe guarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

iv) they have prepared the annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES

During the year under review, there were no employees covered under the provisions of Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

APPRECIATION

Your Directors wish to express their appreciation of the valuable services rendered by the management, staff and workmen of their devotion and entering efforts for improving the operation of the company. Your Directors express their sincere appreciation and thanks to various departments, of Central Government, Financial Institutions, Banks and investors for their continued valuable support, confidence and assistance.

By Order Of the Board For O P Chains Limited

Chairman

Place: Agra

Date: 31.08.2011

 
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