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Directors Report of Peeti Securities Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the TWENTIETH ANNUAL REPORT together with the Audited Accounts of the company for the financial year ended 31st March, 2014.

FINANCIAL HIGHLIGHTS (Rs in Lakhs)

Particulars Year ended Year ended 31.03.2014 31.03.2013

Sales 958.28 329.00

Other Income 14.73 58.13

Profit before depreciation and tax 37.28 12.34 Depreciation 5.15 4.45

Net profit before tax 32.12 7.89

Prior period adjustments 0.00 0.00

Net profit/loss before Tax 32.12 7.89

Provision for taxation

a. Current (5.92) (2.02)

b. Differed Tax (0.26) (0.18)

Profit after tax 25.94 5.69

Deficit brought forward from the previous year (17.36) (23.05)

Surplus/ (deficit) carried to balance sheet 8.58 (17.36)

OPERATIONS:

During the year under review, your company has achieved a total income of Rs. 958.28 lakhs as against previous year''s income of Rs. 329.00 Lakhs and recorded a net profit of Rs. 25.94 Lakhs for the financial year 2013-14 when compared to a net profit of Rs. 5.69 Lakhs during the previous year.

During the financial year under review even though the ongoing severe recession that the economy is witnessing in almost all the industries, power problem in the joint state of Telangana and Andhra Pradesh, frequent strike due to telangana issue and other factors beyond our control, the Company is able to achieve a good turnover as Compared to last financial year.

The Company is hopeful that this fiscal the Company will achieve good turnover as the economy will witness upward trend and good business despite of huge competition in wholesale prices and doing trading with fewer margins to sustain in the market.

DIVIDEND:

Your Directors do not recommend any Dividend for the financial year 2013-2014 as the company has nominal profit in the business operations.

PARTICULARS OF EMPLOYEES:

Pursuant to Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 2011, as amended, no employee of your Company is in receipt of remuneration exceeding Rs. 5,00,000/- per month or Rs. 60,00,000/- per annum during the financial year.

DIRECTORS:

Mr. Sandeep Peeti, Managing Director of your company retires by rotation at the ensuing Annual General Meeting. Being eligible for the re-appointment, offers him for the re-appointment.

Pursuant to the provision of Section 149 and applicable provision of the Companies Act, 2013 read with rules thereon all independent directors of the company are seeking fresh appointment for 5 consecutive years commencing from ensuing Annual General Meeting.

DIRECTORS'' RESPONSIBILITY STATEMENT:

The Directors of your Company hereby report:

(I) that in the preparation of Annual Accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with the proper explanation relating to material departures, if any, there from;

(ii) 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 ended 31st March, 2014 and of the profit and loss of the company for that period:

(iii) that 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) that the directors have prepared the annual accounts on a going concern basis.

FIXED DEPOSITS:

The Company has neither accepted nor renewed any deposits falling within the provisions of Section 73 and 76 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 from the its member and public during the Financial Year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

A Statement giving details of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo in accordance with the provisions of Section 217(1)(e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988, is set out in Form - ''A'' and Form - ''B'' which is enclosed as Annexure - I to this report.

MANAGEMENT DISCUSSION & ANALYSIS

Pursuant to the provision of clause 49 of the listing agreement a report on Management Discussion & Analysis is set out as an Annexure-II to this report.

CORPORATE GOVERNANCE:

A separate report on Corporate Governance along with Auditor''s Certificate on its compliance is enclosed as Annexure - III to this report.

COMPLIANCE CERTIFICATE

Your Company has obtained the necessary Compliance Certificate as required in terms of Section 383A read with the Companies (Compliance Certificate) Rules 2001 of the Companies Act, 1956 for the financial year 2013-2014 from Mr. B L Chandrasekhar Sarma Practicing Company Secretary same is given in ANNEXURE-IV

AUDITORS:

Pursuant to the provisions of Section 139(2) of the Companies Act, 2013, the Statutory Auditor M/s.MKA Associates, Chartered Accountant, Hyderabad, as the Statutory Auditors of the Company to hold office from conclusion of this Annual General Meeting for a period of 3 years in accordance with the Act, subject to the ratification of shareholders at every Annual General Meeting. The Company is in receipt of confirmation from the Statutory Auditor that in the event of his re-appointment as Statutory Auditor at the ensuing Annual General Meeting, such appointment will be in accordance with the limits specified in Section 141 of the Companies Act, 2013.

The Notes on Financial Statements referred to in the Auditors'' Report are self-explanatory and do not call for any further comments. There are no qualifications in the report of the statutory auditors for the year 2013-14.

LISTING FEE:

Your Company''s shares are listed on The BSE Limited. Your company is regular in payment of the listing fee to the BSE Limited.

ACKNOWLEDGEMENTS:

Your Directors place on record, their appreciation for the co-operation and support from the Bankers, Financial institutions, the Stockiest and distributors, supplier and customers.

Your Directors would also like to place on record their sincere appreciation and gratitude to the Shareholders, Central and State Government agencies etc for their support and co-operation. Your Directors express their heartfelt gratitude to the employees for their exceptional commitment and loyalty to the company.

FOR AND ON BEHALF OF THE BOARD

Sd/- Sd/- Place: Hyderabad SANDEEP PEETI RAJESH PITTY Date: 31-07-2014 Chairman & Managing Director Whole time Director


Mar 31, 2010

The Directors have pleasure in presenting the SIXTEENTH ANNUAL REPORT together with the Audited Accounts of the company for the financial year ended 31st March, 2010.

FINANCIAL HIGHLIGHTS

PARTICULARS (Rs. In Lacks) (Rs. In Lacks) Year ended 31.03.2010 Year ended 31.03.2009

Sales 632.35 396.38

Other Income 2.59 4.99

Profit before depreciation and tax 7.65 (2.64)

Depreciation 6.86 5.47

Net profit/(Loss)before tax 0.80 (8.11)

Prior period adjustments 0.15 0.13

0.64 (8.24)

Provision for taxation

a. Current (0.19) -

b. Deferred Tax - -

c. Fring Benefit Tax - (0.19) (0.54) (0.54)

Profit/Loss after tax 0.45 (8.78)

Deficit brought forward from the previous Year (26.00) (17.22)

Surplus/ (Deficit) carried to balance sheet (25.55) (26.00)

OPERATIONS:

During the year under review, your company has achieved a total income of Rs. 634.94 Lakhs as against previous years income of Rs. 401.37 Lakhs and recorded a net profit of Rs. 0.80 Lakhs for the financial year 2009-10 when compared to a net loss of Rs. 8.11 Lakhs during the previous year. Although your company projected more turnover as against the previous years turnover, your company recorded less profit on account of huge competition in wholesale prices and doing trading with less margin to sustain in the market and your company could not increase the selling price of the finished goods due to severe recession that the economy is witnessing in almost all the industries. However things are restoring to normalcy and the industry is recovering from the depression and your company would do better in the years to come.

DIVIDEND:

Your Directors do not recommend any Dividend for the Financial year 2009-2010 as the profits are planned to be ploughed back into the business operations..

PARTICULARS OF EMPLOYEES:

Pursuant to Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975, as amended, no employee of your Company is in receipt of remuneration exceeding Rs.2,00,000/- per month or Rs.24,00,000/- per annum during the financial year.

DIRECTORS:

Mr. Rajeev Peeti, Director of your company retires by rotation at the ensuing Annual General Meeting. Being eligible for the re-appointment, offers himself for the re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT:

The Directors of your Company hereby report:

i). That in the preparation of Annual Accounts for the financial year ended 31st March, 2010, the applicable accounting standards have been followed along with the proper explanation relating to material departures, if any, there from;

(ii) 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 ended 31st March, 2010 and of the profit and loss of the company for that period:

(iii) that 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) that the directors have prepared the annual accounts on a going concern basis.

FIXED DEPOSITS:

Your company has neither accepted nor renewed any deposits falling within the provisions of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Depos its) Rules, 1975 from the public during the financial year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

A Statement giving details of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo in accordance with the provisions of Section 217(1)(e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988, is set out in Form - A and Form - 8 which is enclosed as Annexure -1 to this report.

MANAGEMENT DISCUSSION & ANALYSIS

Pursuant to the provision of clause 49 of the listing agreement a report on Management Discussion & Analysis is set out as an Annexure-II to this report.

CORPORATE GOVERNANCE:

A separate report on Corporate Governance along with Auditors Certificate on its compliance is enclosed as Annexure - III to this report.

COMPLIANCE CERTIFICATE

Your Company has obtained the necessary Compliance Certificate as required in terms of Section 383A read with the Companies (Compliance Certificate) Rules 2001 of the Companies Act, 1956 for the financial year 2009-2010 from Mr. B L Chandrasekhar Sarma Practicing Company Secretary same is given in ANNEXURE - IV

AUDITORS:

M/s. MKA Assbciates, Chartered Accountants, the statutory auditors of the company retire at the conclusion of ensuing Annual General meeting and being eligible, offer themselves for re-appointment.

REVOCATION OF SUSPENSION

Our Board of Directors with immense pleasure informs to the share holders that the trading in the Equity Shares of the Company is allowed in the Bombay Stock Exchange. The Company script is revoked from suspension from Bombay Stock Exchange Limited.

LISTING FEE:

Your Companys shares are listed on The Bombay Stock Exchange Limited. Your company is regular in payment of the listing fee to the Bombay Stock Exchange Limited.

ACKNOWLEDGEMENTS:

Your Directors place on record, their appreciation for the co-operation and support from the Bankers, Financial institutions, the Stockiest and distributors, supplier and customers.

Your Directors would also like to place on record their sincere appreciation and gratitude to the Shareholders, Central and State Government agencies etc for their support and co-operation. Your Directors express their heartfelt gratitude to the employees for their exceptional commitment and loyalty to the company.

FOR AND ON BEHALF OF THE BOARD Sd/-

Place: Hyderabad SANDEEP PEETI

Date : 01st August 2010 Chairman & Managing Director

 
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