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Directors Report of Rajdarshan Industries Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the Thirty Third Annual Report and the Audited Accounts for the year ended March 31, 2014

Financial Highlights

(Rs. In Lakhs)

Year ended Year ended Detais 31.03.2014 31.03.2013

Turnover and other income 248.68 261.62

Profit before Finance Costs & Depreciation 104.45 121.46

Finance Costs 5.77 6.10

Depreciation 33.29 48.54

Profit before exceptional items & tax 65.39 66.82

Exceptional items 3.35 0.71

Profit before tax 68.74 67.53

Provision for Taxation

-Current tax 18.85 10.33

- Deferred tax adjustment -86 (-2.76)

- Previous year tax 0 13.34

Profit aftertax 49.03 46.62

Surplus brought forward from previous year 714.71 668.09

Total 763.74 714.71

Transfer to General Reserve 0 0.00

Surplus in Profit & Loss Account 763.74 714.71 Performance

During the year the turnover of the Company has decreased by 0.92% to Rs.227.28 lakhs as against Rs.229.38 lakhs in the previous year. The Company has achieved profit Before Tax of Rs.68.74 lakhs as against profit of Rs.67.53 lakhs in the previous year, in the same period the Profit after Tax stood at Rs.49.03 lakhs against the profit of Rs.46.62 lakhs.

Dividend

In orderto conserve financial resources, your Directors have not recommended any dividend forthe year.

Finance

During the year the Company has not availed loan from Banks and other financial institutions.

Directors Responsibility Statement

The Directors hereby confirm that:

a) in preparation oftheAnnualAccounts forthe financial year2013-14, applicable Accounting Standards have been followed and that there are no material departures;

b) 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 as at the end of the Financial Year and of the profit of the Company for that period;

c) they have taken proper and sufficient care, to the best of their knowledge and ability, for the maintenance of adequate accounting records in accordance with the provisions of the Act and for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) they have prepared the Annual Accounts of the Company on a "going concern" basis.

Management Discussion and Analysis Report

The annexed Management Discussion and Analysis forms a part of this Report and covers, amongst other matters, the performance of the Company during the financial Year under review as well as future prospects.

Corporate Governance

A report on Corporate Governance, along with Auditors''Certificate regarding compliance of conditions of Corporate Governance stipulated under clause 49 of the listing agreement is annexed hereto.

Fixed Deposits

Your Company has not accepted any deposits and, as such, no amount of principal or interest was outstanding on the date of the Balance Sheet.

Directors

Mr. SudhirDoshi (DIN008627), director of the Company retire by rotation at the ensuing Annual General Meeting and being eligible offer himself for re-appointment.

Appointment of Mr. MP. Dhruv (DIN 01654978) as Independent Directors pursuant to Section 149 and 152 of the Companies Act, 2013 is proposed to be made at the forthcoming Annual General Meeting.

The Board members express their deep regret at the sad demise on 18 October 2013 of Mr. B.S. Deopura, Independent Director.

Brief resume of directors seeking appointment/re-appointment is annexed with the notice calling this Annual General Meeting.

Auditors

M/s Satyam SVG & Co. Chartered Accountants, Udaipur retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

Auditors'' Report

As regards the Auditors Report, the points raised therein have been explained in the Notes to the Accounts and elsewhere in the Annual Report, as such Directors have no further comments to offer.

Particulars of Employees

During the year no employee was getting remuneration beyond the limit fixed for which the particulars are required pursuant to Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975.

The Company continued to maintain good cordial relations with its employees.

Conservation of Energy and Technology Absorption

The Company has no particulars to furnish underthe above head since it has not carried any manufacturing activities during the year under review.

Foreign Exchange Earnings and Outgo:

Please refer Notes No.29 notes forming part of the Accounts para no. 17 to 20.

Other Mandatory Requirements

Pursuant to the requirements of the Listing Agreements with the Stock Exchanges and the Accounting Standards in terms of Section 211 (3A) of the Companies Act, 1956, details of Related Party Transactions (AS-18), Deferred Taxation (AS-22) and impairment of assets (AS-28) have been incorporated in and / or annexed with the Accounts.

Acknowledgement

The directors record their gratitude to the bankers, financial institutions, government departments fortheir assistance and co-operation during the year.

The directors also place on record their appreciation of the dedicated services of the workers and employees of the Company.

The directors also thank the shareholders for their continued faith and support to the Company.

By order of the Board For Rajdarshan Industries Limited

Sudhir Doshi Devendra Sharma

Director Director

Place : Udaipur

Date : August 06, 2014


Mar 31, 2013

Dear Members,

The Directors have pleasure in presenting the Thirty second Annual Report and the Audited Accounts for the year ended March 31, 2013

Financial Highlights

(Rs. In Lakhs)

Details Year ended Year ended

31.03.2013 31.03.2012

Turnover and other income 261.62 199.05

Profit before Finance Costs & Depreciation 121.46 57.83

Finance Costs 6.10 4.45

Depreciation 48.54 50.26

Profit before exceptional items & tax 66.82 3.12

Exceptional items 0.71 1.14

Profit before tax 67.53 4.26 Provision for Taxation

- Current tax 10.33 0.00

- Deferred tax adjustment -2.76 -5.22

- Previous year tax 13.34 0.00

Profit after tax 46.62 9.48

Surplus brought forward from previous year 668.09 658.61

Total 714.71 668.09

Transfer to General Reserve 0.00 0.00

Surplus in Profit & Loss Account 714.71 668.09

Performance

During the year the turnover of the Company has increased by 26.07% to Rs.229.38 lakhs as against Rs.181.95 lakhs in the previous year. The Company has achieved profit Before Tax of Rs.67.53 lakhs as against profit of Rs.4.26 lakhs in the previous year, in the same period the Profit After Tax stood at Rs.46.62 lakhs against the profit of Rs.9.48 lakhs.

Dividend

In order to conserve financial resources, your Directors have not recommended any dividend for the year.

Finance

During the year the Company has availed loan of Rs.70.00 lakhs from Banks and other financial institutions. Directors Responsibility Statement The Directors hereby confirm that:

a) in preparation of the Annual Accounts for the financial year 2012-13, applicable Accounting Standards have been followed and that there are no material departures;

b) 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 as at the end of the Financial Year and of the profit of the Company for that period;

c) they have taken proper and sufficient care, to the best of their knowledge and ability, for the maintenance of adequate accounting records in accordance with the provisions of the Act and for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) they have prepared the Annual Accounts of the Company on a "going concern" basis.

Management Discussion and Analysis Report

The annexed Management Discussion and Analysis forms a part of this Report and covers, amongst other matters, the performance of the Company during the financial Year under review as well as future prospects.

Corporate Governance

A report on Corporate Governance, along with Auditors'' Certificate regarding compliance of conditions of Corporate Governance stipulated under clause 49 of the listing agreement is annexed hereto.

Fixed Deposits

Your Company has not accepted any deposits and, as such, no amount of principal or interest was outstanding on the date of the Balance Sheet.

Directors

Mr. Ashok Doshi and Mr. O.P. Jain, directors of the Company retire by rotation at the ensuing Annual General Meeting and being eligible have offered themselves for re-appointment.

Brief resume of directors seeking re-appointment is annexed with the notice calling this Annual General Meeting.

Auditors

M/s Punjawat, Pokharna & Hiran, Chartered Accountants, Udaipur retires in accordance with the provisions of the Companies Act, 1956, at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

Auditors'' Report

As regards the Auditors Report, the points raised therein have been explained in the Notes to the Accounts and elsewhere in the Annual Report, as such Directors have no further comments to offer.

Particulars of Employees

During the year no employee was getting remuneration beyond the limit fixed for which the particulars are required pursuant to Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975.

The Company continued to maintain good cordial relations with its employees.

Conservation of Energy and Technology Absorption

The Company has no particulars to furnish under the above head since it has not carried any manufacturing activities during the year under review.

Other Mandatory Requirements

Pursuant to the requirements of the Listing Agreements with the Stock Exchanges and the Accounting Standards in terms of Section 211 (3A) of the Companies Act, 1956, details of Related Party Transactions (AS-18), Deferred Taxation (AS-22) and impairment of assets (AS-28) have been incorporated in and / or annexed with the Accounts.

Acknowledgement

The directors record their gratitude to the bankers, financial institutions, government departments for their assistance and co-operation during the year.

The directors also place on record their appreciation of the dedicated services of the workers and employees of the Company.

The directors also thank the shareholders for their continued faith and support to the Company.

By order of the Board

For Rajdarshan Industries Limited

Sudhir Doshi Devendra Sharma

Director Director

Place : Udaipur

Date : May 30, 2013

 
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