Mar 31, 2014
Dear Members,
The Directors are pleased to present the Thirty Third Annual Report
together with the Audited Statement of Accounts for the year ended
March 31, 2014. The Management Discussion and Analysis is also
incorporated into this Report.
1. CORPORATE OVERVIEW
Ruby Traders & Exporters Limited ("Your Company") is in the business of
trading activities in textile products vide Grey and Finished Fabric,
Cotton Sarees, advancing money in form of Inter Corporate Deposits to
Corporate Entities and HNIs and making investments in Capital and
Securities Market.
2. OVERVIEW OF THE ECONOMY
According to the latest estimate, Indian Economy grew by 4.7% in FY
2014. Despite a good monsoon, the manufacturing indices has declined,
commodity prices stayed at high levels and food inflation reached an
all-time high which resulted in sustained CPI inflation of over 10% in
the last financial year. The Rupee depreciated significantly before
retracting in the latter half of the year. Consumer sentiments remained
subdued for most part of FY 2014.
However, the slow GDP growth appears to have bottomed out and post
elections, economic activity is expected to pick up from the second
quarter of FY 2015.
3. FINANCIAL PERFORMANCE
Rs. In Lacs
Financial Results Year Ended Year Ended
March 31, 2014 March 31, 2013
Revenue from Operations 109.57 14.50
Profit Before Tax & Extraordinary Items 9.01 2.06
Provision for Taxation 2.78 0.64
Profit after Tax 6.23 1.42
Profit brought forward from Previous Year 6.27 4.85
Balance carried forward to next year 12.50 6.27
4. FINANCE & ACCOUNTS
In the FY 2013-2014, your company has issued 41,50,000 Equity shares of
Rs. 10 each at par on preferential basis. All the shares rank
pari-passu with the existing shares. Further all the equity shares are
listed on both The Calcutta Stock Exchange and The Uttar Pradesh Stock
Exchange.
Your company prepares its financial statements in compliance with the
requirements of the Companies Act, 1956 and the Generally Accepted
Accounting Principles (GAAP) in India. The financial statements have
been prepared on historical cost basis. The estimates and judgements
relating to the financial statements are made on a prudent and
reasonable basis, so as to reflect in a true and fair manner, the form
and substance of transactions and reasonably present the Company''s
state of affairs, profits and cash flows for the year ended March 31,
2014.
5. PUBLIC DEPOSITS
During the year under review, your company has not accepted any
deposits from the public within the meaning of section 58A of the
Companies Act 1956 and the rules there under.
6. COMPLIANCE
The compliance function of the company is responsible for independently
ensuring that the operating and business units comply with regulatory
and internal guidelines. New instructions/guidelines issued by the
regulatory authorities were disseminated across the company to ensure
that the business and business units operate within the boundaries
set by the regulators and that compliance risks are suitably monitored
and mitigated in course of their activities & processes.
7. DIRECTORS
During the year under review, Mr. Ashish Jalan is appointed as the
Additional Director in the company. He offers himself as eligible to
be appointed as the Independent Director of the company.
Also, during the year under review, Mr. Rajnish Parolia, Mr. Nishant
Kothari, Mr. Ratan Pandit, Mr. Sovon Chakrovorty and Mr. Murari Lal
Kanodia resigned from the Board.
Further, none of the Directors of the company are disqualified under
section 274(1)(g) of the Companies Act, 1956.
8. AUDITORS
Auditors M/s Bajoria Mayank & Associates, Chartered Accountants,
Kolkata holds the office until the conclusion of the ensuing Annual
General Meeting. Your company has received certificate from the
Auditors u/s 224(1B) of the Companies Act, 1956 to the effect that
their reappointment if made, will be within the limit prescribed.
The shareholders are requested to appoint the Auditors and fix their
remuneration.
9. COMMENTS ON AUDITOR''S REPORT
The notes referred to in the Auditor''s Report are self - explanatory
and as such they do not call for any further explanation as required
under section 217(3) of the Companies Act, 1956.
10. PARTICULARS OF THE EMPLOYEES
The information as required by provisions of section 217(2A) of the
Companies Act, 1956 read with companies (Particular of employees)
amendment rules, 1988 is reported to be NIL.
11. PARTICULARS UNDER SECTION 217(I)(E) OF THE COMPANIES ACT, 1956
The company is engaged in the business of trading in textile products.
Also, it is engaged in the business of Capital market & Finance Sector.
Hence, the information regarding conservation of energy, Technology
Absorption, Adoption and Innovation, the information required under
section 217(1)(e) of the Companies Act, 1956 read with the Companies
(Disclosure of Particulars in the Report of Board of Directors) Rules
1988, is reported to be NIL
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
12. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Amendment Act, 2000 the
Directors confirm that :
a. In the preparation of the Annual Accounts, for the year ended 31st
March 2014, all the applicable accounting standards prescribed by the
Institute of Chartered Accountants of India have been followed.
b. The Directors had adopted such accounting policies and applied them
consistently and made judgements 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 that period.
c. The Directors had 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.
d. The Directors had prepared the annual accounts on a going concern
basis.
13. APPRECIATION
Your Directors wish to place on record their appreciation for the
contribution made by the employees at all levels but for whose hard
work, and support, your company''s achievements would not have been
possible. Your Directors also wish to thank its customers, dealers,
agents, suppliers, investors and bankers for their continued support
and faith reposed in the company.
By Order of the Board of Directors
For RUBY TRADERS and EXPORTERS LIMITED
Ramrati Choudhury
Managing Director
May 19, 2014
Kolkata
Mar 31, 2013
Dear Members,
Your Directors have pleasure in presenting the Thirty Second Annual
Report of your Company together with the Audited Statements of Accounts
for the. year ended March 31, 2013.
Financial Results Year Ended Year Ended
31.03.2013 31.03,2012
Income 14,50,000.00 4,53,954,00
Profit before Tax & extraordinary 2,05,947 3,18,255,29
item
Less: Provision for Taxation 39,245.58 54,786,23
MAT Credit Entitlement 24,394.42 54,786,23
Deferred Tax (51.47) NIL
Profit after Tax 1,42,358.47 3,18,255.29
Less: Adjustment of Tax for Earlier NIL NIL
Years
Less : Transfer to General Reserve NIL NIL
Add : Profit brought forward from 4,84,843.80 1,66,588.51
Previous Year
Balance carried forward 6,27,202.27 4,84,843,80
BUSINESS OPERATIONS
The Business environment remains extremely challenging and the
recessionary economic conditions leading to slowdown in demand and
inflation pushed scale up of input costs left its adverse imprint on
overall performance for 2012-2013. Directors are pleased to inform that
in spite of difficult times, your Company, based on its intrinsic
strength, has broadly maintained its performance.
FUTURE PLANS
As you are aware to this fact that the market is not supporting to the
businesses of the Company due to lack of demand, high inflation rate,
significant drop in the growth of the Company, rise in Dollar price
etc. in spite of all these, the Company is hopeful of maintaining its
profitability in current financial year also and wants to expand its
business in a big way. Apart from this the Company is willing to invest
its money in Capital Market wisely and to earn from this investment.
DIVIDEND
In order to conserve resources to meet the working capital
requirements, your Directors do not propose any dividend for the year
under review.
MANAGEMENT
There is no Change Management of the Company during the year under
review.
DIRECTORS
None of the Directors of the Company are disqualified under section
274(1) (g) of the Companies Act 1956.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
the Directors confirm that:
1. In the preparation of the annuals accounts, for the year ended 31st
March 2013, all the applicable accounting standards prescribed by the
Institute of Chartered Accountants of India have been followed;
2. The Directors had adopted such accounting policies and applied them
consistency and made judgments and estimates that arc 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 that period.
3. The Directors had 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.
4. The Directors had prepared the annual accounts on a going concern
basis,
STATUTORY INFORMATION
The Company being basically in the trading business as well as an
Investor Capital & Money Market, requirement, regarding and disclosures
of Particulars of conservation of energy and technology absorption
prescribed by the rule is not applicable to us.
INFORMATION TECHNOLOGY
Your Company believes that in addition to progressive thought, it is
imperative to invest in research and development to ascertain future
exposure and prepare for challenges. In its endeavor to obtain and
deliver the best, your Company has entered into alliances/tie-ups with
an IT solution Company harness and cap the latest and the best of
technology* in the world and deploy/absorb technology wherever
feasible, relevant and appropriate.
RESEARCH & DEVELOPMENT
The Company believes that technological obsolescence is a reality. Only
progressive research and development will help us to measure up to
future challenges and opportunities. We invest in and encourage
continuous innovation. During the year under review, expenditure on
research and development is not significant in relation to the nature
size of operations of your Company.
AUDITORS
The Auditors M/s Bajoria Mayank & Associates., Chartered Accountants,
Kolkata holds the office until the conclusion of ensuing Annual General
Meeting, Your Company has received certificate from the Auditors U/S
224(1B) of the Companies Act, 1956 to the effect that their
reappointment if made, will be within the limit prescribed. The
shareholders are requested to appoint Auditors and fix their
remuneration.
COMMENTS ON AUDITOR'S REPORT :
The notes referred to in the Auditor's Report arc. self explanatory-
and as such they do not call for any further explanation as required
under section 217(3) of the Companies Act, 1956.
PARTICULARS OF EMPLOYEES
The information as required by provisions of section 217(2A) of the
Companies Act, 1956 read with the companies (Particular of employees)
amendments rules, 1975 is reported to be NIL.
PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956
The Company is having no business other than the business of Investing
Securities Market as well as to lend money to Corporate and during the
year under review and hence the information regarding conservation of
energy, Technology Absorption, Adoption and innovation, the information
required under section 217(l)(c) of the Companies Act, 1956 read with
the Companies (Disclosure of particulars in the Report of Board of
Directors) Rules 1988, is reported to be NIL,
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any
deposits from the public within the meaning of section 58A of the
Companies Act 1956 and the rules there under.
REPORT ON CORPORATE GOVERNANCE
The Company conforms to the norms of Corporate Governance as envisaged
in the Companies Act, 1956 and the lasting Agreement with the Bombay
Stock Exchange Limited. Pursuant to Clause 49 of the Agreement, a
Report on the Corporate Governance and the Auditors Certificate on
Corporate Governance arc annexed to this report.
APPRECIATION
Your Directors wish to place on record their appreciation towards the
contribution of all the employees the Company and their gratitude to
the Company's valued customers, bankers, vendors and members for their
continued support and confidence in the Company.
Kolkata, August 17, 2013 By order of the Board
For RUBY TRADERS & EXPORTERS LTD.
Sovon Chakrovorty
Director
Registered Office :
42/1, B.B. Ganguly Street
Kolkata - 700 012
Mar 31, 2012
To The Members,
The Directors have pleasure in presenting the Thirty First Annual
Report of your Company together with the Audited Statements of
Accounts for the year ended March 31, 2012.
Financial Results Year Ended Year Ended
31-03-2012 31-03-2011
Income " 4,53,954.00 99,478.00
Profit before Tax &
extraordinary item 3,18,255.29 2,411.98
Leas; Provision for
Taxation 54,786.23 NIL
MAT Credit Entitlement 54,786.23 NIL
Deferred Tax NIL 51.47
Profit after Tax 3,18,255,29 2360.51
Less ; Adjustment of tax
for Earlier Years NIL NIL
Less: Transfer to General
Reserve NIL NIL
Add: Profit brought
forward from Previous 1,66,588.51 1,64,228.00
Year
Balance carried forward 4,84,843.80 1,66.588.51
BUSINESS OPERATIONS
The Business environment remains extremely challenging and the
recessionary economic Condition leading co slowdown in demand and
inflation pushed scale input costs left its adverse imprint on
overall performance for 2011-2012, Directors are pleased to inform
that in spite of difficult times, your Company, based on its intrinsic
strength, has broadly maintained its performance.
FUTURE PLANS
As you are aware to this fact that the market is noi supporting to die
businesses of the Company due to lack of demand, high inflation rate,
significant drop in the growth of the Company, rise in Dollar price
etc. In spite of all these, the Company is hopeful of maintaining its
profitability in current financial year also and wants co expand its
buiness in a big way. Apart from this the Company is willing to invest
its money in Capital Market wisely and to earn from this investment.
DIVIDEND
In order to conserve resources to meet the working capital
requirements, your Directors do not propose any dividend for the year
under review,
MANAGEMENT DISCUSSION & ANALYSIS
As required by Clause 49 of Listing Agreement, the. Management
Discussion and Analysis is annexed anti forms pari of the Directors
Report.
DIRECTORS!
Retire by Rotation:
Mr. Rajnish Parolia, a director of the Company retires by rotation as
per the provisions of Companies Act, 1956, And being eligible, offers
himself for re-appointment.
Resignation of director:
Mr. Om Prabish Gupta and Mr. Ashok Kumar Gupta, Directors of the
Company has been resigned from Directorship w.e.f. 20th April, 2012.
Resignation from the Office:
Mr. Bishwanath Parolia resigned from the service of Authorized Officer
w.e.f 29th .August 2012.
Regular is action of Directors;
Mr. Ratan Pandit and Mr. Sovon Chakraborty, were appointed as an
Additional director of the Company w.e.f 26th March 2012, will be
regulated at the ensuing Annual General Meeting of the.Company and be
appointed as the normal Director being Independent director of the
Company and m dns regard the Company has received a request from a
member of Company proposing their candidatures for the appointment of
normal direcor.
Disclosure by Directors:
further, none of the Directors of the Company ate disqualified under
section 2-4{1)(g) of die Companies Act 1956,
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2 A A) of the Companies (Amendment) Act, 2000
the Directors confirm that:
1. In the preparation of die annuals accounts, for the year ended 31st
March 2012, all the applicable accounting standards Prescribed by the
Institute of Chartered Accountants of India have been followed;
2. The Directors had adopted such accounting policies and applied them
consistentiy 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 die end of the financial year and of the profit of the
Company for [hat period.
3. The Directors had 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.
4. The Directors had prepared [he annual accounts on a going concern
basis.
STATUTORY INFORMATION
The Company being basically in die trading business as well as an
Investor in Capital & Money Market, requirement, regarding and
disclosures of Particulars of conservation of energy- and technology
absorption prescribed by the rule is not applicable to us.
INFORMATION TECHNOLOGY
Your Company believes that in addition to progressive thought, it is
imperative to invest in research and development to ascertain future
exposure and prepare for Challenges. In its endeavor to obtain and
deliver the best, your Company has entered into alliances/ tie- ups
with an IT solution Company to harness and tap the latest and the best
of technology in she world and deploy /absorb technology wherever
feasible, relevant and appropriate.
RESEARCH & DEVELOPMENT
The Company believes dial technological obsolescence is a reality.Only
progressive research and development will help us to measure up to
future challenges and opportunities. We invest in and encourage
eonnnuous innovation. Durmg the year under review, expenditure oil
research and development is not significant in relauon to the nature
size of operations of your Company.
AUDITORS
the Auditors Mayank Bajoria, Chartered Accountant, Howrah holds die
office until the conclusion of ensuing Annual General Meeting. Your
Company lias received certificate from the Auditors U/S 224(1 R) of die
Companies Act, 1956 to the effect that their reoppointment if made,
will be within the limit prescribed.
COMMENTS ON AUDITOR''S REPORT;
The notes referred to in the Auditur''s Report are self explanatory
and as such they do not call for any further explanation as required
under section 217(3) of the Companies Act, 1956.
COMPLIANCE CERTIFICATE:
The Directors have gone through tine observation of V. K. Sharma &
Associates, a whole time secretary in practice of 82/6/1, Bhairab Du-
tta Lane, 1st Floor, Salkia, Howrah - 711106, Through their Compliance
certificate, year ended 31-03-2U12 under section 383A (1) of Companies
Act, 1956, has been annexed with the Board Report,
APPOINTMENT OP SECRETARIAL AUDITOR:
Ms. Swati Kedia, a whole Lime Secretary in practice of 8/9, Mahendra
Nath Roy Bye 1 Lane Howrah -- 711 101, is being appointed for issuance
the Compliance Certificate for the F. Y. ended 31.03,2013,
PARTICULARS OF EMPLOYEES
There was only no employee in die Com]:any during die year under
review.
The information as required by provisions of section 217(2A) of the
Companies Act, 1956 read with die companies (Particular of employees)
amendments rules, 1975 is reporter! to be NIL. ''
PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956
The Company is having no business other than the business of Investing
in Securities Market as well as to lend money to Corporate and HNls
during the year under review and hence the information regarding
conservation of energy, technology Absorption, Adoption and innovation,
the information required under section 217(l)(e) of the Companies Act,
1956 read with the Companies (Disclosure of particulars in the Report
of Board of Directors) Rules 1988, is reporter) to be NIL.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any
deposits from the public within the meaning of section 58A of the
Companies Act I956 and the rule there under.
REPORT ON CORPORATE GOVERNANCE
The Company conforms to the norms of Corporate Governance as envisaged
in the Companies Act, 1956 and the Listing Agreement with the Bombay
Stock Exchange Limited. Pursuant to Clause 49 of the Listing Agreement,
a Report on the Corporate Governance and the Auditors Certificate on
Corporate Governance are annexed to report.
APPRECIATION
Your Directors wish to place on record their appreciation towatds the
contribution of all the employees of the Company and their grantude to
the Company''s valued customers, bankers, vendors and members for their
continued support and confidence in the Company. ''
Kolkata September 3.2012 By order of the Board
For Ruby Traders & Exporters LTD
Registered Office;
42/5, B.B: Ganguly Street Ratan Pandit Sovon Chaktovoity
Kolkat. 700012 Director Director
Mar 31, 2011
Dear Members,
The board of director of your company has great pleasure in presenting
their report of the company together with the audited statements of
account for the year ended 31st March 2011.
Financials Results
During the year the company incurred a Profit (PAT) of Rs 2360.51/-.
The amount of profit carried forward to the Balance Sheet is Rs
166588.51/-
Operations
The company had normal trading business activities during the year.
Personnel
Particulars as required under section 217(2A) of the Companies Act,
1956 are not applicable to the company.
Director's Responsibility Statement
As required under section 217 (2AA) which was introduced by the
Companies Amendment Act, 2000. your directors confirm that:
1. In the preparation of the annual accounts, the applicable
accounting standards have been followed.
2. 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 Company as on 31/03/2011 and of the Profit of the Company for the
year ended 31/03/2011.
3. 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,
4. The Directors have prepared the annual accounts on going concern
basis.
Auditors Report
There is nothing in Auditor's Report, which requires further
explanation.
Auditors
The auditor M, K. Ghosh & Co., Chartered Accountants have been eligible
and offered themselves for appointment. It has been informed that their
appointment would be within the limit prescribed U/s 224(1B) of the
Companies Act 1956.
Particulars of Employees:
None of the employees was in receipt of the remuneration exceeding the
limits prescribed u/s 217(2 A) of the Companies Act 1956 and (he rules
framed their under, as amended to date.
Information Pursuant to sec 217 (1) (e) of the Companies Act, 1956.
A. Conservation of Energy : Not Applicable
3. Technology absorption : Not Applicable
C, Earning ft Expenditure in Foreign Exchange : NIL
For and on behalf of the Board of Directors
Place: Kolkata Ruby Traders & Exporters Ltd
Dated: 20 August, 2011
Rajnish Parolia Om PrakaSh Gupta
Director Director