Home  »  Company  »  Raghunath Intern  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Raghunath International Ltd.

Mar 31, 2014

Dear members,

The Directors have pleasure in presenting the Twentieth Annual Report of the Company together with the Audited Accounts of the Company for the year ended March 31, 2014.

FINANCIAL RESULTS

The highlights of the Financial Results are as under:

(Rupees in Lakhs)

PARTICULARS Year ended Year ended 2013-14 2012-13

Sales and Other Income (Gross) 110.34 92.60 Profit/(Loss) before Interest and Depreciation 11.66 (1.89) Less: Finance Charges (08.30) (8.93) Less: Depreciation (05.91) (06.38) Profit/(Loss) for the Year (02.55) (17.20) Add/(Less): Extraordinary Items 01.32 3.71 Less: Fringe Benefit Tax Nil Nil Add/Less: Provision for Income Tax Nil (06.43) Less: Provision for Wealth Tax Nil (0.04) Add/(Less): Deferred Tax Assets/ (Liability) 03.02 06.63 Net Profit/(Loss) for the Year 01.79 (13.33) Add: Balance brought forward 110.38 123.71 Amount available for appropriation 112.17 110.38 Appropriation: Transfer to General Reserves Nil Nil Surplus carried to the Balance Sheet 112.17 110.38

OPERATIONS

During the year under review, the Sales and Other Income of the Company inclined to Rs. 110.34 Lacs as compared to 92.60 Lacs in the previous year. The Company has posted a Profit of Rs. 01.79 Lacs as against loss of Rs. (13.33) Lacs in the previous year. The Company will focus on real estate and allied business and will formulate its strategies accordingly.

DIVIDEND

Since your Company has not made any profit, your Directors have not recommended any dividend.

DIRECTORS

In accordance with the requirements of the Companies Act, 2013 and other applicable provisions, Mr. Samar Bahadur Singh (DIN No. 00033510) is liable to retire by rotation and is eligible for re-appointment.

Mr. Shiv Prakash , Director (DIN No. 00710843) of the Company, was appointed as Independent Non-Executive Director of the company. In accordance with section 149 (10) of the Companies Act, 2013, he will continue to be an Independent Director of the Company.

Mr. Manish Bhatia, Director (DIN No. 02181290) of the Company, was appointed an Independent, Non-Executive Director of the Company. In accordance with Section 149 (10) of the Companies Act, 2013, he will continue to be an Independent Director of the Company.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section of the Companies Act, with respect to the Directors'' Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards had been followed and no material departure have been made from the same;

(ii) That the Directors had 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 of the Company for the year under review;

(iii) That Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) That Director has prepared the annual accounts for the financial year ended 31st March, 2014, on ''going concern'' basis.

DEMATERIALIZATION OF EQUITY SHARES

The Company''s equity shares are available for trading in the Depository systems of both the National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL). The International Security Identification Number (ISIN) allotted by NSDL and CDSL to the Company is INE753B01014. The Dematerialization status of the Company as on March 31st, 2014 is as under:-

Particulars Nos. of Shares Percentage

Electronic Mode NSDL 26,83,080 53.66% CDSL 4,37,940 08.76% 3121020 62.42% Physical Mode 18,79,180 37.58% Total: 50,00,200 100.00

CORPORATE GOVERNANCE

Your Company has successfully implemented the mandatory provisions of Corporate Governance in accordance with the provisions of Clause 49 of the Listing Agreement of the Stock Exchanges. Separate Reports on Corporate Governance and Management Discussion & Analysis are included in the Annual Report and Certificate dated 1st September, 2014 of the Auditors of your Company confirming the compliance of conditions of Corporate Governance is also annexed thereto.

VIGIL MECHANISM

In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013, a vigil mechanism for directors and employees to report genuine concerns has been established.

PARTICULARS OF EMPLOYEES

There was no employee in respect of whom information is required to be given pursuant to applicable Section of the Companies Act, read with the Companies (Particulars of Employees) Rules, 1975 as amended up-to-date.

AUDITORS

M/s. Kumar Piyush & Co. (Firm Registration No.: 005120N) Chartered Accountants, the Statutory Auditors, will retire at the conclusion of ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

AUDITOR''S REPORT

In respect of observation made by the Auditors in their Report, your Directors wish to state that the respective notes to the accounts are self-explanatory, and do not call for any further comments.

INDUSTRIAL RELATIONS

During the year under review, your Company had cordial and harmonious relations at all levels of the Organization.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted any fixed deposits from the public as per the relevant provision of the Companies Act, 2013 and the Rules made there under.

SUBSIDIARY COMPANY

There is no Subsidiary Company during the year under review.

CORPORATE SOCIAL RESPONSIBILITY

The responsibility of the Company is to make a positive impact on the communities in which the company does business through its support of select programs, outreach efforts and initiatives that improve and enhance the quality of life. Our goal is to make things better for the planet, better for people, better for business, better now, better for the future. Your company believes in the principle of symbiotic relationship with the local communities, recognizing that business ultimately has a purpose - to serve human needs. Close and continuous interaction with the people and communities in and around the manufacturing divisions has been the key focus while striving to bring around qualitative changes and supporting the under privileged. The Company has constituted a Corporate Social Responsibility Committee as required under Section 135 of the Companies Act, 2013.

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

The information required under conservation of energy, technology absorption and foreign exchange earnings & outgo is attached hereto as Annexure-''A'' and forms part of the Directors'' Report.

ACKNOWLEDGEMENTS

The Directors acknowledge with gratitude, the co-operation and assistance received from the Government, Banks, Authorities and other Business Constituents. The Directors would also like to thank the employees, shareholders, customers and suppliers for their continuous support given by them to the Company and their confidence in the Management.

For and on behalf of the Board

Sd/- Sd/- Place: Delhi (G. N. Choudhary) (Samar Bahadur Singh) Date: 01st September, 2014 Director Director DIN NO.00012883 DIN NO. 00033510


Mar 31, 2012

To The Members of Raghunath International Limited

The Directors have pleasure in presenting the Eighteenth Annual Report of the Company together with the Audited Accounts of the Company for the year ended March 31, 2012.

FINANCIAL RESULTS

The highlights of the Financial Results are as under:

(Rupees in Lakhs)

PARTICULARS Year ended Year ended 2011-12 2010-11 Sales and Other Income (Gross) 52.86 75.55

Profit/(Loss) before Interest and 08.56 05.59 Depreciation

Less: Finance Charges (12.83) (14.19)

Less: Depreciation (06.58) (07.25)

Profit/(Loss) for the Year (10.85) (15.85)

Add/(Less): Extraordinary Items (02.16) (02.10)

Less: Fringe Benefit Tax Nil Nil

Add/Less: Provision for Income Tax (07.58) 00.05

Less: Provision for Wealth Tax (0.09) (0.09)

Add/(Less): Deferred Tax Assets/ 06.64 07.85 (Liability)

Net Profit/(Loss) for the Year (14.04) (10.14)

Add: Balance brought forward 137.76 147.89

Amount available for appropriation 123.72 137.76 Appropriation:

Transfer to General Reserves Nil Nil

Surplus carried to the Balance Sheet 123.72 137.76

OPERATIONS

During the year under review, the Sales and Other Income of the Company declined to Rs. 52.86 lacs as compared to 75.55 lacs in the previous year. The Company has posted a loss of Rs. (14.04) lacs as against loss of Rs. (10.14) lacs in the previous year. Net loss of the company increased to Rs. (14.04) lacs in comparison to net loss of Rs. (10.14) lacs in the previous year.

The Company will focus on real estate and allied business and will formulate its strategies accordingly.

DIVIDEND

Since your Company has not made any profit, your Directors have not recommended any dividend.

DIRECTORS

In accordance with the requirements of the Companies Act, 1956 and the Articles of Association of the Company, Shri Manish Bhatia and Shiv Prakash Trivedi are liable to retire by rotation and are eligible for re-appointment.

Mr. G.N. Choudhary is reappointed as Whole-time Director for the tenure of five year, subject to the approval of the members of the Company at ensuing Annual General Meeting of the Company.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 217 (2AA) of the Companies Act, 1956, with respect to the Directors' Responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the annual accounts for the financial year ended 31st March, 2012, the applicable accounting standards had been followed and no material departure have been made from the same;

(ii) That the Directors had 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 of the Company for the year under review;

(iii) That 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 Director has prepared the annual accounts for the financial year ended 31st March, 2012, on 'going concern' basis.

DEMATERIALIZATION OF EQUITY SHARES

The Company's equity shares are available for trading in the Depository systems of both the National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL). The International Securities Identification Number (ISIN) allotted by NSDL and CDSL to the Company is INE753B01014. The Dematerialization status of the Company as on March 31st, 2012 is as under:-

Particulars Nos. of Shares Percentage

Electronic Mode

NSDL 26,78,552 53.57%

CDSL 4,38, 368 08.77%

3116920 62.34%

Physical Mode 18,83,280 37.66%

Total: 50,00,200 100.00

CORPORATE GOVERNANCE

Your Company has successfully implemented the mandatory provisions of Corporate Governance in accordance with the provisions of Clause 49 of the Listing Agreement of the Stock Exchanges. Separate Reports on Corporate Governance and Management Discussion & Analysis are included in the Annual Report and Certificate dated May 30, 2012 of the Auditors of your Company confirming the compliance of conditions of Corporate Governance is also annexed thereto.

PARTICULARS OF EMPLOYEES

There was no employee in respect of whom information is required to be given pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended up-to-date.

AUDITORS

M/s. Kumar Piyush & Co. Chartered Accountants, the Statutory Auditors, will retire at the conclusion of ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

AUDITORS' REPORT

In respect of observation made by the Auditors in their Report, your Directors wish to state that the respective notes to the accounts are self-explanatory, and do not call for any further comments.

INDUSTRIAL RELATIONS

During the year under review, your Company had cordial and harmonious relations at all levels of the Organization.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted any fixed deposits from the public within the meaning of Section 58A of the Companies Act, 1956 and the Rules made there under.

SUBSIDIARY COMPANY

There is no Subsidiary Company during the year under review.

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

The information required under Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 is attached hereto as Annexure-'A' and forms part of the Directors' Report.

ACKNOWLEDGEMENTS:

The Directors acknowledge with gratitude, the co-operation and assistance received from the Government, Banks, Authorities and other Business Constituents. The Directors would also like to thank the employees, shareholders, customers and suppliers for their continuous support given by them to the Company and their confidence in the Management.

For and on behalf of the Board Sd/- (Manish Bhatia) Director DIN NO. 02181290

Sd/- (G. N. Choudhary) Director DIN NO.00012883

Place: Delhi Date : May 30, 2012


Mar 31, 2010

The Directors have pleasure in presenting the Sixteenth Annual Report of the Company together with the Audited Accounts of the Company for the year ended March 31,2010.

FINANCIAL RESULTS

The highlights of the Financial Results are as under:

(Rupees In Lacs)

PARTICULARS Year ended Year ended 2009-2010 2008-2009

Sales and Other Income (Gross) 342.25 686.81

Profit/(Loss) before Interest and Depreciation 21.23 66.36

Less: Finance Charges (9.22) (18.85)

Less: Depreciation (16.10) (13.51)

Proflt/(Loss) for the Year (4.08) 34.00

Add/(Less): Extraordinary Items (2.74) 7.61

Less: Fringe Benefit Tax Nil (1.06)

Less: Provision for Income Tax (3.59) (9.15)

Less: Provision for Wealth Tax (0.14) (0.12)

AddZ(Less): Deferred Tax Assets/ (Liability) (0.25) (0.05)

Net Profit/(Loss) for the Year (10.71) 31.21

Add: Balance brought forward 158.70 132.49

Amount available for appropriation 147.99 163.70

Appropriation:

Transfer to General Reserves Nil 5.00

Surplus carried to the Balance Sheet 147.99 158.70

OPERATIONS

During the year under review, the Sales and Other Income of the Company decreased to Rs. 342.25 lacs as compared to 686.81 lacs in the previous year. However the Company has posted a loss of Rs. (10.71) lacs as against profit of Rs. 31.21 lacs in the previous year. The Company will focus on real estate and allied business and will formulate its strategies accordingly.

DIVIDEND

Since your Company has not made any profit, your Directors have not recommended any dividend.

DIRECTORS

In accordance with the requirements of the Companies Act, 1956 and the Articles of Association of the Company, Mr. Shiv Prakash Trivedi and Mr. Samar Bhadur Singh is liable to retire by rotation and is eligible for re-appointment. Mr. Durgesh Kumar has resigned from the Board w.e.f. 10.06.2010.The Board places it gratitude to Mr. Durgesh Kumar for his contribu- tion made during his tenure as Director.

DIRECTORS" RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 217 (2AA) of the Companies Act, 1956, with respect to the Directors Respon- sibility Statement, it is hereby confirmed:

(i) That in the preparation of the annual accounts for the financial year ended 31st March, 2010, the applicable accounting standards had been followed and no material departure have been made from the same;

(ii) That the Directors had 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 of the Company for the year under review;

(iii) That 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;

(vi) That Director has prepared the annual accounts for the financial year ended 31st March, 2010, on going concern basis.

DEMATERIAUZATION OF EQUITY SHARES

The Companys equity shares are available for trading In the Depository systems of both the National Securities Deposi- tory Limited (NSDL) and the Central Depository Services (India) Limited (CDSL). The International Security Identification Number (ISIN) allotted by NSDL and CDSL to the Company is INE753B01014, The Dematerlalisation status of the Company as on March 31st, 2010 Is as under;-

Particulars Nos. of Shares Percentage

Electronic Mode

NSDL 26,05,390 52.10%

CDSL 4,70,330 09.41%

30,75,720 61.51

Physical Mode 19,24,460 38.49%

Total: 50,00,200 100.00

CORPORATE GOVERNANCE

Your Company has successfully implemented the mandatory provisions of Corporate Governance in accordance with the provisions of Clause 49 of the Listing Agreement of the Stock Exchanges. Separate Reports on Corporate Governance and Management Discussion & Analysis are included In the Annual Report and Certificate dated May 29,2010 of the Auditors of your Company confirming the compliance of conditions of Corporate Governance is also annexed thereto.

PARTICULARS OF EMPLOYEES

There was no employee in respect of whom Information Is required to be given pursuant to Section 217(2A) of the Compa- nies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended up-to-date.

AUDITORS

M/s. Kumar Piyush & Co. Chartered Accountants, the Statutory Auditors, will retire at the conclusion of ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

AUDITORS REPORT

In respect of observation made by the Auditors in their Report, your Directors wish to state that the respective notes to the accounts are self-explanatory, and do not call for any further comments.

INDUSTRIAL RELATIONS

During the year under review, your Company had cordial and harmonious relations at ail levels of the Organization.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted any fixed deposits from the public within the meaning of Section 58A of the Companies Act, 1956 and the Rules made there under.

SUBSIDIARY COMPANY

There was no Subsidiary Company during the year under review,

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

The information required under Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 is attached hereto as Annexure-A and forms part of the Directors Report.

ACKNOWLEDGEMENTS:

The Directors acknowledge with gratitude, the co-operation and assistance received from the Government, Banks, Authori- ties and other Business Constituents. The Directors would also like to thank the employees, shar eholders, customers and suppliers for their continuous support given by them to the Company and their confidence in the Management.

For and on behalf of the Board



Place: Delhi (G. N. Choudhary) (Manlsh Bhatla)

Dated: June 30,2010 Director Director

DIN:00012883 DIN: 02181290



 
Subscribe now to get personal finance updates in your inbox!