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Directors Report of Raghava Estates & Properties Ltd.

Mar 31, 2014

Dear Members,

We are delighted to present before you the Twenty Sixth Annual Report on business and operations along with the Audited financial statements and the Auditors Report of your company for the financial year ended March 31, 2014.

(Rs. in Lakhs)

Particulars For the Year For the Year Ended 31-03-2014 Ended 31-03-2013

FINANCIAL RESULT

Total Revenues 1739.94 3328.59

Total Expenditure 1654.78 2497.49

Earnings before Interest, Depreciation & Tax 85.16 831.11

Interest 75.02 811.21

Depreciation & Amortisation 8.51 9.98

Profit/(Loss) before tax 1.62 9.92

Provision for Taxes 0.31 0.44

Profit after tax 2.01 10.36

Surplus/(Deficit) brought forward form Pervious year 55.08 539.72

Tranfered from forfited Shares - -

Balance in Profit & Loss Account 552.09 550.08

DIVIDEND:

In view of the working capital requirements for the on going & forthcoming projects, the Board had not recommended any dividend.

FUTURE PROSPECTS:

Your company views the future with optimism, as the demand for Housing is growing day by day and keeping in view the demand the management is anticipating good increase in turnover during the forthcoming years.

DIRECTORS:

Sri T. Sri Rambabu, Sri P.S.P. Bhushan Maruthi and Sri B.V.R. Kumar Maruthi shall retire by rotation at the ensuing Annual General Meeting and being eligible are proposed for re-appointment.

AUDITORS:

The Statutory Auditors M/s SURESH AND BABU, Chartered Accountants, Vijayawada retire at the ensuing Annual General Meeting, and have confirmed their eligibility and willingness to accept office, if re-appointed.

INFORMATION AS PER SEC. 217(2A) OF THE COMPANIES ACT, 1956

There were no employees in receipt of remuneration in excess of the amounts specified in Section 217(2A) of the Companies Act, 1956 read with Rule 2 of Companies (particulars of Employees) Rules of 1975, as amended.,

CONSERVATION of Energy ,Technology absorption, Foreign Exchange and outgo:

The Rules regarding conservation of Energy and technical absorption are not applicable to the company. The company has not earned any foreign exchange and has not incurred any expenses in foreign currency.

CORPORATE GOVERNANCE:

We strive to maintain high standards of corporate governance in all our interactions with our stake holders. The company has confirmed the corporate governance code as stipulated under the listing agreement with the stock exchange. As per clause 49 of the Listing Agreement our company has obtained corporate governance report from the statutory auditors of the company and annexed to this report and a separate section on Management Analysis and Discussion has been forming part of this report.

Directors'' Responsibility Statement:

Pursuant to the requirement U/s 217 (2AA) of the Companies Act, 1956, with respect to Directors responsibility statement, it is hereby confirmed:

i) That in the presentation of Annual accounts, 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 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 the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

iv) That the Directors have prepared the accounts on a going concern basis.

ACKNOWLEDGEMENT:

Your Directors take this opportunity to express their thanks to the various State Government Departments, Development Authorities, Banks & Financial Institutions, Customers and Suppliers for their valuable assistance and support.

Your Directors wish to place on record their appreciation of the efforts put in by the employees of your company at all levels.

For and on behalf of the Board

Sd/- Place : Vijayawada LINGAM RAVINDRA RAO Date : 05.05.2014 Managing Director


Mar 31, 2013

Dear Members,

The Directors have great pleasure in presenting 25th Annual report together with the annual Audited Accounts for the financial year ended 31st March 2013.

(Rs. in Lakhs)

Particulars For the Year For the Year Ended 31-03-2013 Ended 31-03-2012

FINANCIAL RESULT

Total Revenues 3328.60 1325.48

Total Expenditure 2497.49 1734.11

Earnings before Interest, Depreciation & Tax 831.11 (408.63)

Interest 811.21 60.28

Depreciation 9.98 11.94

Profit/(Loss) before tax 9.92 (480.85)

Provision for Taxes 0.44 (0.31)

Profit after tax 10.36 (480.54)

Surplus/(Deficit) brought forward form Pervious year 539.72 1020.26

Balance in Profit & Loss Account 550.08 539.72

DIVIDEND:

In view of the working capital requirements for the on going & forthcoming projects, the Board has not recommended any dividend.

FUTURE PROSPECTS:

Your company views the future with optimism, as the demand for Housing is growing day by day and keeping in view the demand the management is anticipating good increase in turnover during the forthcoming years.

DIRECTORS:

Sri K. Harischandra Prasad, who retires by rotation and being eligible offers himself for reappointment.

Sri Ch. Anjaneyulu, who retires by rotation and being eligible offers himself for reappointment.

Sri M K S Prakasa Rao, who retires by rotation and being eligible offers himself for reappointment.

AUDITORS:

M/s SURESH AND BABU, Chartered Accountants, Vijayawada Auditors of the Company retire and are eligible for re-appointment for the Current financial Year.

INFORMATION AS PER SEC. 217(2A) OF THE COMPANIES ACT, 1956 PARTICULARS OF EMPLOYEES:

There were no employees in receipt of remuneration in excess of the amounts specified in Section 217(2A) of the Companies Act, 1956.

CONSERVATION of Energy, Technology absorption, Foreign Exchange and outgo:

Information regarding compliance of rules relating to conservation of Energy and Technology absorption is not provided, as the same is not applicable to the Company.

Foreign exchange earning and out go : Nill

CORPORATE GOVERNANCE:

As per clause 49 of the Listing Agreement our company has obtained corporate governance report from the statutory auditors of the company and annexed to this report and a separate section on Management Analysis and Discussion has been forming part of this report.

Directors'' Responsibility Statement:

Pursuant to the requirement U/s 217(2AA) of the Companies Act, 1956, with respect to Directors responsibility statement, it is hereby confirmed:

i) That in the presentation of Annual accounts, 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 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 the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

iv) That the Directors have prepared the accounts for the financial year ended 31st March 2013 on a going concern basis.

ACKNOWLEDGEMENT:

Your Directors take this opportunity to express their thanks to the various State Government Departments, Development Authorities, Banks & Financial Institutions, Customers and Suppliers for their valuable assistance and support.

Your Directors wish to place on record their appreciation of the efforts put in by the employees of your company at all levels.

For and on behalf of the Board

Sd/- Place : Vijayawada LINGAM RAVINDRA RAO Date : 04.09.2013 Managing Director


Mar 31, 2012

Dear Shareholders,

The are delighted to present before you the Twenty Fourth Annual Report on business and operations along with the Audited financial statements and the Auditors Report of your company for the financial year ended March 31, 2012.

(Rs. in Lakhs)

Particulars For the Year For the Year Ended 31-03-2012 Ended 31-03-2011

FINANCIAL RESULT

Total Revenues 1325.48 787.71

Total Expenditure 1734.11 693.09

Earnings before Interest, Depreciation & Tax (408.63) 97.50

Interest 60.28 74.20

Depreciation & Amortisation 11.94 14.98

Profit/(Loss) before tax (480.85) 8.31

Provision for Tax (0.31) (0.47)

Profit after tax (480.54) 8.78

Surplus/(Deficit) brought forward form Pervious year 1020.26 911.22

Transferred from Forward from previous year - 100.26

Balance in Profit & Loss Account 539.72 1020.26

DIVIDEND:

In view of the working capital requirements for the on going & forthcoming projects, the Board had not recommended any dividend.

FUTURE PROPSECTS:

Your company views the future with optimism, as the demand for Housing is growing day by day and keeping in view the demand the management is anticipating good increase in turnover during the forthcoming years.

DIRECTORS :

Sri K.Koteswara Rao, Sri A.Srinivas and Sri M.K.S.Prakasa Rao shall retire by rotation at the ensuing Annual General Meeting and being eligible are proposed for re-appointment.

AUDITORS:

The Statutory Auditors M/s SURESH AND BABU, Chartered Accountants, Vijayawada retire at the ensuing Annual General Meeting, and have confirmed their eligibility and willingness to accept office, if re-appointed.

INFORMATION AS PER SEC. 217(2A) OF THE COMPANIES ACT, 1956

There were no employees in receipt of remuneration in excess of the amounts specified in Section 217(2A) of the Companies Act, 1956 read with Rule 2 of Companies (particulars of Employees) Rules of 1975, as amended.,

CONSERVATION of Energy .Technology absorption. Foreign Exchange and outgo:

Information regarding compliance of rules relating to conservation of Energy and Technology absorption is not provided, as the same is not applicable to the Company.

CORPORATE GOVERNANCE:

We strive to maintain high standards of corporate governance in all our interactions with our stake holders. The company has confirmed the corporate governance code as stipulated under the listing agreement with the stock exchange. As per clause 49 of the Listing Agreement our company has obtained corporate governance report from the statutory auditors of the company and annexed to this report and a separate section on Management Analysis and Discussion has been forming part of this report.

Directors'' Responsibility Statement:

Pursuant to the requirement U/s 217(2AA) of the Companies Act, 1956, with respect to Directors responsibility statement, it is hereby confirmed

i) That in the presentation of Annual accounts, 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 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 the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

iv) That the Directors have prepared the accounts on a going concern basis.

ACKNOWLEDGEMENT:

Your Directors take this opportunity to express their thanks to the various State Government Departments, Development Authorities, Banks & Financial Institutions, Customers and Suppliers for their valuable assistance and support.

Your Directors wish to place on record their appreciation of the efforts put in by the employees of your company at all levels.

For and on behalf of the Board

Place : Vijayawada LINGAM RAVINDRA RAO

Date : 02.09.2012 Managing Director


Mar 31, 2011

The Directors have great pleasure in presenting 23rd Annual Report together with the Annual Audited Accounts for the financial year ended 31st March, 2011.

For the Year For the Year Ended ' 31-03-2011 Ended 31-03-2010

FINANCIAL RESULTS Rs. Rs.

Profit before interest and depreciation 94,93,581 1,13,21,366

Interest 71,64,202 87,62,057

Depreciation 14,98,202 16,29,402

Profit for the Year 8,31,177 9,29,907

Miscellaneous Expenditure written off 0 0

Profit before tax 8,31,177 9,29,907

Less: Provision for Income Tax

--- Current Tax ( 277596) (2,87,397)

--- Deferred Tax 3,24,927 55,899

Profit after tax 8,78,508 6,98,409

Profit/Loss brought forward from

Previous period 9,11,21,998 9,04,23,589

Profit carried to Balance Sheet 9,20,00,506 9,11,21,998

Earning per share

---Basic/Diluted. 0.29 0.17

DIVIDEND:

In view of the working capital requirements for the on going & forth coming projects, the board has not recommended any dividend.

FUTURE PROSPECTS:

Your company views the future with optimism, as the demand for Housing is growing day by day and keeping in view the demand the management is anticipating good increase in turnover during the forthcoming years.

DIRECTORS :

Sri T.Sri Rambabu who retires by rotation and being eligible offers himself for re-appointment.

Sri P.S.P.Bhushan Maruthi who retires by rotation and being eligible offers himself for re- appointment.

Sri B.V.R.Kumar Maruthi who retires by rotation and being eligible offers himself for re- appointment.

AUDITORS :

M/s SURESH AND BABU, Chartered Accountants, Vijayawada Auditors of the Company, retire and are eligible for re-appointment for the Current Year.

INFORMATION AS PER SEC.217(2A) OF THE COMPANIES ACT, 1956.

PARTICULARS OF EMPLOYEES:

There were no employees in receipt of remuneration in excess of the amounts specified in Section 217(2A) of the Companies Act, 1956.

CONSERVATION of Energy ,Technology absorption, Foreign Exchange and outgo :

Information regarding compliance of Rules relating to conservation of Energy and Technology absorption is not provided, as the same is not applicable to the Company.

Foreign Exchange earning and outgo : Nil

CORPORATE GOVERNANCE:

As per clause 49 of the Listing Agreement our company has obtained corporate governance report from the statutory auditors of the company and annexed to this report and a separate section on Management Analysis and Discussion has been forming part of this report.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to the requirement U/s 217(2AA) of the Companies Act, 1956, with respect to Directors responsibility statement, it is hereby confirmed

i) That in the presentation of Annual accounts, Applicable accounting standards have been followed and there is no material departure.

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 going concern basis.

ACKNOWLEDGEMENT:

Your Directors take this opportunity to express their thanks to the various State Government Departments, Development Authorities, Banks & Financial Institutions, Customers and Suppliers for their valuable assistance & support.

Yours Directors wish to place on record their appreciation of the efforts put in by the employees of your company at all levels.

Place : Vijayawada For and on behalf of the Board

Date : 02.09.2011

L.RAVINDRA RAO

Managing Director

 
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