Mar 31, 2010
The Directors are pleased to present their Fourteenth Annual Report on
the working of your company along with the audited Profit and Loss
Account for the year ended 31st March 2010 and the Balance Sheet as at
that date.
FINANCIAL HIGHLIGHTS
The financial highlights are set out below: (Rs. In Lakhs)
Particulars 2009-2010 2008-2009
Revenue 6772.38 4462.77
Profit before Interest Depreciation
and Tax 1453.01 1016.32
Interest & Finance Charges 139.50 121.00
Depreciation 395.89 276.83
Provision for Tax 121.54 69.60
Deferred Tax -8.43 0.14
Fringe Benefit Tax - 4.19
Net Profit for the year 804.50 544.57
Accumulated Profit Brought
forward from 885.63 341.06
Balance Sheet
Total Distributable profit 1690.13 885.63
Dividend
Dividend Tax
Profit Carried over to the
Balance Sheet 1690.13 885.63
PERFORMANCE HIGHLIGHTS 0FTHE YEAR
The Board of Directors are pleased to state that during the financial
year under review, the income of the company is Rs 6772.38 Lakhs as
against Rs.4462.77 Lakhs for the previous financial year. The EBITDA
for the financial year is Rs. 1453.01 Lakhs as against Rs.1017.32 lakhs
for the previous financial year. The PAT for the financial year under
review is Rs. 804.55 Lakhs as against Rs.544.57 lakhs for the previous
financial year.
SHARE CAPITAL
During the year under review your company has issued 66,45,00,000
equity shares as fully paid up bonus shares at the rate of Re.1/- per
share out of the funds capitalized from the credit balance of General
Reserve and Share Premium Account. These shares have been listed with
the Bombay Stock Exchange Ltd., with effect from 09.03.2010
DIVIDEND
Considering the aggressive expansion plan of your company ahead, and
the successful 5:4 bonus issue during the year, your Board, has not
recommended any dividend.
CHANGE OF REGISTERED OFFICE
During the year, the registered office of the company was shifted to
Flat No.33/6, II Floor, B R Complex, C P Ramasamy Road. Alwarpet,
Chennai 600018 with effect from 03.03.2010.
TERM DEPOSITS
During the year under review, your company has not accepted any
deposits from the public within the meaning of Section 58 A of the
Companies Act, 1956.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUT GO
The particulars required under Sec.217 (1) (e) of the Companies Act,
1956, read with the Companies (Disclosure of Particulars in the Report
of Board of Directors) Rules, 1988 are furnished in the Annexures to
this Report.
PARTICULARS OF EMPLOYEES
No employee is in receipt of remuneration in excess of the limits
prescribed under Section 217 (2A) of the Companies Act, 1956 and hence
furnishing of statement of particulars of employees as per section
217(2A) of the Companies Act, 1956 read with the Companies (Particulars
of employees) Rules, 1975 as amended does not arise.
DIRECTORS
During the financial year under review three new directors viz., Mr.
G.Sundaresan, Mr. Vijay R. Vakharia and Mr. T.V.Balachandran were
inducted into the Board. Mr.T.V.Balachandran, Mr.G.Sundaresan and
Mr.Vijay R Vakharia were appointed as additional directors w.e.f
14/11/2009, 12/02/2010 and 10/03/2010 respectively. The resolution for
regularizing the appointment of Mr.T.V.Balachandran and Mr.Vijay R
Vakharia has been proposed to be passed in the ensuing AGM of your
company. The resolution for regularizing Mr.G.Sundaresan as an
Executive Director of your company is also proposed to be passed in the
ensuing AGM of your company.
In accordance with the provision of Articles of Association of the
company, Mr.R.Siva Shankaran and Mr. K.Rajagopal, Directors of the
company retire at the ensuing Annual General Meeting and being eligible
offer themselves for reappointment. Your Board recommends their
reappointment as Directors of your Company.
AUDITORS
The auditors, M/s. R Ravindran & Associates, Chartered Accountants have
expressed their willingness to continue in office. They have furnished
to the Company a certificate of their eligibility for appointment as
auditors, pursuant to section 224 (1B) of the Companies Act, 1956, if
appointed. The Board of Directors recommend to the members to appoint
them as auditors and authorize the Boardto fix their remuneration.
COMPANY SECRETARY
Mr.S.Ami Ganesh was the company secretary of your company August 2010.
Your company would be soon appointing a company secretary for
compliance as per section 383 A of the companies act 1956.
DIRECTORSRESPONSIBILITY STATEMENT
Pursuant to requirement under Section 217(2AA) of the companies
Amendment Act, 1956, with respect to directors responsibility
statement and subject to the Disclosures in the Annual Accounts, the
Board of Directors hereby confirms that:
1 .In the preparation of the Annual Accounts, the applicable accounting
standards had been followed along with proper explanation relating to
the material departure, if any;
2.The Directors had selected such accounting policies and applied them
consistently and made judgment 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 financial year ended 31 st March 2010 and
of the profits of the company for the year ended 31st March 2010:
3.The Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of Companies Act, 1956 for safeguarding the assets of the
company and for preventing and detecting fraud and other
irregularities; and
4.The Directors had prepared the Annual Accounts on a going concern
basis.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
As required under Clause 49 of the Listing Agreement entered with the
Bombay Stock Exchange Limited, Management Discussion and Analysis
Report is presented in the separate section and forms an integral part
of the Directors Report.
CORPORATE GOVERNANCE & COMPLIANCE CERTIFICATE
A detailed report on Corporate Governance, pursuant to requirement of
Clause 49 of the Listing Agreement with the Stock Exchanges forms part
of the Annual Report. A certificate confirming compliance of the
conditions of Corporate Governance from a practicing chartered
accountant as stipulated under Clause 49 of the listing agreement is
annexed to the Corporate Governance Report.
CEO/CFO CERTIFICATION
As required by Clause 49 of the Listing Agreement, a Certificate on the
financial statements and Cash Flow statement of the company for the
year ended 31st March 2010 has been duly signed by the two Executive
Directors of the company.
ACKNOWLEDGEMENT
Your Directors wish to place on record their appreciation of the
Co-operation received from the Central Government, State Government,
Companys Bankers, Customers, Vendors and shareholders. Your Directors
also wish to place on record their deep sense of appreciation for the
contribution made by the employees of the Company for their unstinted
efforts in the progress of the company at all levels.
On behalf of the Board
For Sanraa Media Limited
Sd/-
Place : Chennai G Sundaresan
Chairman
Date : 4th September 2010