Mar 31, 2015
Dear Members,
The Directors have pleasure in presenting their 24th Annual Report
together with the Audited Accounts for the year ended March 31, 2015.
1. FINANCIAL RESULTS OR PERFORMANCE OF THE COMPANY (Standalone)
The Board's Report shall be prepared based on the stand alone financial
statements of the company.
FINANCIAL RESULTS:
Particulars Year ended Year ended
31.03.2015 31.03.2014
Rs. in Lacs Rs. in Lacs
Sales & Other Income 2426.69 3107.73
Other Income 1.43 1.09
Total Expenditure 2390.33 3106.27
Interest Cost 0.00 0.00
Profit before depreciation 37.79 2.55
Depreciation 36.10 0.29
Profit / (Loss) before tax and 1.69 2.26
appropriations
Provision For Tax 0.87 0.68
Differed Tax 31.80 (1.39)
Profit / (Loss) after tax 32.62 0.19
Add : Balance brought forward from 0.00 0.00
previous year
Profit / (Loss) available for disposal 0.00 0.00
Proposed Dividend 0.00 0.00
Corporate Tax on Proposed Dividend 0.00 0.00
Transfer to / (From) General Reserve 32.62 0.19
Profit carried forward 0.00 0.00
2. OPERATIONS
During the year under review the Company has achieved turnover of Rs.
24.26 Crores as Compare to Rs. 31.07 Crores during the last year. The
Management is taking appropriate step to improve Company's bottom line.
3. CURRENT YEAR OUTLOOK
The Company is planning to participate/visit various jewellery shows,
domestic as well as aboard. Barring unforeseen circumstances the
management is hopeful of achieving higher turnover during the year.
Company has already started Real Estate Business along with existing
business of Diamond and Diamond Jewellery. Company have started
Construction in "SHREE SHUKRA AND SHUBH SHUKRA PROJECT ".
4. Dividend
No Dividend has been recommended by the Board as there was not
sufficient profit in the Company during the year.
5. MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY
No material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which
this financial statements relate on the date of this Report
6. SHARE CAPITAL OF THE COMPANY:
The Paid up Equity share Capital, as at 31st March, 2015 was Rs.
13,57,28000 /- divided into 1,35,72,800, Equity shares, having face
value of Rs. 10 /- each fully paid up. During the year under review,
the Company has not issued any shares with differential voting rights
nor granted any stock neither options nor sweat equity.
7. SUBSIDIARIES & ASSOCIATE COMPANIES:
The Company does not have any subsidiary but has Associate Company.
8. BOARD OF DIRECTORS:
Mrs. Mayuri C. Shah Whole Time Director Din(01188108) of the Company,
hold office up to the ensuing AGM and being eligible have offered
herself for re-appointment to the office of the Director and in terms
of Section 160 of the Companies Act, 2013.
DIRECTORS RESPONSIBILITY STATEMENT:
As required under the provisions of Section 134 of the Companies Act,
2013, your Director's report that:
i. In the preparation of the Annual Accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departure, if any';
ii. 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 and
loss of the company for that period;.
iii. 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
iv. The Directors had prepared the annual accounts on a going concern
basis.
v. The Directors, had laid down internal financial controls to be
followed by the company and that such internal financial controls are
adequate and were operating effectively
vi. The Directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively.
9. BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out an annual performance
evaluation of its own performance, the directors individually as well
as the evaluation of the working of its Audit, Nomination &
Remuneration Committees. The manner in which the evaluation has been
carried out has been explained in the Corporate Governance Report.
10. KEY MANAGERIAL PERSONNEL:
During the year under review, the Company has appointed the following
persons as the Key Managerial Personnel.
Sr. Name of the Person Designation
No.
1. Mr. Gaurav Shah Chief Financial Officer
2. Mr. Tejas C. Trivedi Company Secretary
11. DECLARATION OF INDEPENDENT DIRECTORS
The Independent Directors submitted their disclosures to the Board that
they fulfill all the requirements as stipulated in Section 149(6) of
the Companies Act, 2013 so as to qualify themselves to be appointed as
Independent Directors under the provisions of the Companies Act, 2013
and the relevant rules as per the Listing Agreement.
12. DISCLOSURE UNDER SECTION 164(2) OF THE COMPANIES ACT, 2013
The Company has received the disclosure in Form DIR-8 from its
Directors being appointed or re-appointed and has noted that none of
the Directors are disqualified under Section 164(2) of the Companies
Act, 2013 read with Rule 14(1) of Companies (Appointment and
Qualification ofDirectors) Rules, 2014.
13. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:
The details of the number of meetings of the Board held during the
Financial Year 2014-15 forms a part of the Corporate Governance Report.
14. AUDIT COMMITTEE:
In accordance with the provisions of the Listing Agreement and
Corporate Governance, the Company has constituted an Audit Committee
comprising of Independent Directors. The Audit Committee acts in
accordance with the terms of reference specified from time to time by
the Board. The details of the terms of audit committee and other
details are explained in the Corporate Governance Report.
15. REMUNERATION & NOMINATION COMMITTEE:
The Board of Directors has framed a policy which lays down a framework
in relation to remuneration of Directors, Key Managerial Personnel and
Senior Management of the Company. The policy lays down the criteria for
selection and appointment of Board Members. The details of the policy
are explained in the Corporate Governance Report.
16. VIGIL MECHANISM / WHISTLE BLOWER POLICY:
The Company has a Vigil Mechanism / Whistle Blower policy to report
genuine concerns, grievances, frauds and mismanagements, if any. The
Vigil Mechanism /Whistle Blower policy has been posted on the website
of the Company (www.shukrajewellery.com)
17. RELATED PARTY TRANSACTIONS:
All related party transactions that were entered into during the
financial year were on arm's length basis and were in the ordinary
course of the business and that the provisions of Section 188 of the
Companies Act, 2013 are not attracted.
The disclosure in Form AOC-2 is given as per Annexure 'A'. Further,
there are no materially significant related party transactions made by
the company with Promoters, Key Managerial Personnel or other
designated persons which may have potential conflict with interest of
the company at large.
All related party transactions are placed before the Audit Committee
and also before the Board for their approval in accordance with the
Policy on Related Party Transactions formulated by the Board of
Directors of the Company and has been posted on the website of the
Company fwww.shukraiewellerv.com 1. Omnibus approval was obtained on
quarterly basis for transactions which are of repetitive nature.
18. FIXED DEPOSITS:
Your Company has not accepted any deposits within the meaning of
Section 73 of the Companies Act, 2013 and the Companies fAcceptance
ofDeposits) Rules, 2014.
19. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:
There is no loan given, investment made, guarantee given or security
provided by the Company to any entity covered under Section 186 of
Companies Act, 2013.
20. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There are no significant and material orders passed by the Regulators
or Courts that would impact the going status of the Company and its
future operations.
21. EXTRACT OF ANNUAL RETURN:
The details forming part of the extract of the Annual Return in form
MGT-9, as required under Section 92 of the Companies Act, 2013, is
included in this Report as Annexure 'B' and forms an integral part of
this Report.
22. DEPOSITORY SERVICES:
The Company's Equity Shares have been admitted to the depository
mechanism of the National Securities Depository Limited fNSDL) and also
the Central Depository Services flndia) Limited fCDSL). As a result the
investors have an option to hold the shares of the Company in a
dematerialized form in either of the two Depositories. The Company has
been allotted ISIN No. INE344E1016.
Shareholders therefore are requested to take full benefit of the same
and lodge their holdings with Depository Participants [DPs] with whom
they have their Demat Accounts for getting their holdings in electronic
form.
23. CODE OF CONDUCT:
Your Company is committed to conducting its business in accordance with
the applicable laws, rules and regulations and highest standards of
business ethics. In recognition thereof, the Board of Directors has
implemented a Code of Conduct for adherence by the Directors, Senior
Management Personnel and Employees of the Company. This will help in
dealing with ethical issues and also foster a culture of accountability
and integrity. The Code has been posted on the Company's website
www.shukraiewellery.com.
All the Board Members and Senior Management Personnel have confirmed
compliance with the Code.
24. STATUTORY AUDITORS:
M/s. S.K. JHA & Co, Chartered Accountants, Ahmedabad fFirm Registration
No. 126173W) were appointed as the Statutory Auditors of the Company at
the AGM held on 30th September, 2014 to hold office until the conclusion
of the third consecutive AGM, are recommended for ratification of
appointment for the Financial Year 2015-16. As required under the
provisions of Section 139 of the Companies Act, 2013, the Company has
obtained written confirmation from M/s. S.K. JHA & Co. that their
appointment, if made, would be in conformity with the limits specified
in the said Section.
25. SECRETARIAL AUDIT:
Pursuant to provisions of Section 204 of the Companies Act, 2013 and
the Rules made thereunder, the company has appointed Virendra G Bhatt
Company Secretaries in Practice to undertake the Secretarial Audit of
the Company. The Secretarial Audit Report is annexed herewith as
Annexure 'E' and forms an integral part to this Report.
26. AUDITOR'S / SECRETARIAL AUDOTOR'S OBERSERVATIONS
The observations of the auditors contained in their Report have been
adequately dealt with in the Notes to the Accounts which are
self-explanatory and, therefore, do not call for any further comments
INTERNAL AUDITOR
The size of operation of the Company is very small, it is no viable to
appoint Internal Auditor but the Company has established the Internal
Control system.
WHOLE TIME DIRECTORS
Chandrakant Himmatlal Shah and Mayuri Shah are whole time directors of
Shukra Jewellery Limited as well as Shukra Bullions Limited and they
will be ceased to be Whole Time Directors from Shukra Bullions Limited
within a Six Month Period and will remain whole time directors in
Shukra Jewellery Limited only.
LATEST INFORMATION ON THE WEBSITE OF THE COMPANY
The Company has uploaded time to time latest information on the Company
Web-Site.
EXPLANATION OR COMMENTS ON QUALIFICATIONS. RESERVATIONS OR ADVERSE
REMARKS OR DISCLAIMERS MADE BY THE PRACTICING COMPANY SECRETARY IN
THEIR REPORTS
COST AUDITORS
The Company is not required to maintain cost records as per the
Companies (Cost Records and Audit) Amendments Rules, 2014 as the
turnover of the Company for the Financial Year 2013-14 was below 35
crores.
INSURANCE
The Company's plant & machinery, buildings, stocks & assets are not
insured
SHARES
a) Buy Back of Securities
The Company has not bought back any of its securities during the year
under review.
b) Sweat Equity
The Company has not issued any Sweat Equity Shares during the year
under review.
c) Bonus Shares
No Bonus Shares were issued during the year under review.
d) Employees Stock Option Plan
The Company has not provided any Stock Option Scheme to the employees
27. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has an Internal Control System, commensurate with the size,
scale and complexity of its operations. The scope and authority of the
Internal Audit function is defined by the Audit Committee. To maintain
its objectivity and independence, the Internal Audit function reports
to the Chairman of the Audit Committee of the Board /and to the
Chairman & Managing Director.
The Internal Audit Department monitors and evaluates the efficacy and
adequacy of internal control system in the Company, its compliance with
operating systems, accounting procedures and policies of the Company.
Based on the report of internal audit function, the Company undertakes
corrective action in their respective areas and thereby strengthen the
controls. Significant audit observations and recommendations along with
corrective actions thereon are presented to the Audit Committee of the
Board.
28. ENVIRONMENT & ENERGY CONSERVATION:
Efforts for control of Environment and Conservation of energy are an
on-going process in your Company. As required by the Company's
(Disclosure of Particulars in the Report of Board of Directors) Rules,
1988 relevant data pertaining to conservation of energy, technology,
absorption and Foreign Exchange Earnings and Outgo are given in the
prescribed format as per Annexure to this Report.
29. CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS REPORTS:
The Company adheres to the requirements set out by the Securities and
Exchange Board of India's Corporate Governance practices and have
implemented all the stipulations prescribed. The Company has
implemented several best corporate governance practices.
The Corporate Governance and Management Discussion & Analysis Report,
which form an integral part of this Report, are set out as separate
Annexures, together with the Certificate from the Auditors of the
Company regarding compliance with the requirements of Corporate
Governance as stipulated in Clause 49 of the Listing Agreement.
30. PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNING AND OUTGO:
The information on conservation of energy, technology absorption and
foreign exchange earnings and outgo pursuant to Section 134(3)(m) of
the Companies Act, 2013, read with the Rule 8(3) of the Companies
(Accounts) Rules, 2014 is given in Annexure 'C' to this Report.
31. ENVIRONMENT AND SAFETY:
The Company is aware of the importance of environmentally clean and
safe operations. The Company's policy requires conduct of operations in
such a manner, so as to ensure safety of all concerned, compliances,
environmental regulations and preservation of natural resources at the
Plant.
32. GREEN INITIATIVE
Your Directors would like to draw your attention to the recent Circular
No. 17/2011 dated 21.04.2011 and Circular No. 18/2011 dated 29.04.2011
issued by the Ministry of Corporate Affairs allowing paperless
compliances and also service of notice/documents (including annual
report) thorough electronic mode to its members. To support this green
initiative of the Central Government in full measure. We hereby once
again appeal to all those members who have not registered e-mail
address so far are requested to register their e- mail address in
respect of electronic holdings with their concerned depositary
participants and/or with the Company
33. PARTICULARS OF EMPLOYEES:
There are no employees whom payments as per Section 197 of the
companies Act, 2013 read with Rule 5(2) of the Companies (Appointment
and Remuneration of Managerial personnel) Rules, 2014 are made is given
in Annexure 'D' to this report.
34. LISTING:
The Company's Shares are listed on BSE Limited, Mumbai.
35. APPRECIATION:
Your Directors would like to express their sincere appreciation to the
company's Shareholders, Vendors and Stakeholders including Banks,
Government authorities, other business associates, who have extended
their valuable sustained support and encouragement during the year
under review. Your Directors also wish to place on record their
appreciation for impressive growth achieved through the competence,
hard work, solidarity, cooperation and support of employees at all
levels.
REGISTERED OFFICE: By order of the Board of Directors
Panchdhara Complex, 3rd Floor, For Shukra Jewellery Limited
Near The Grand Bhagwati Hotel,
S .G. Highway, Bodakdev, (Chanrakant H Shah),
Ahmedabad-380054 (Gujarat) CHAIRMAN (DIN 01188001)
Date: 17.08.2015
Place: Mumbai
Mar 31, 2014
The Members,
SHUKRA JEWELLERY LIMITED
The Directors take great pleasure in presenting the 23rd Annual Report
of the Company together with the Audited Accounts for the year ended
31st March, 2014
FINANCIAL RESULTS
31stMarch 2014 31stMarch 2013
Rs.(In lakhs) Rs. (In lakhs)
Income from Operations 3107.73 3096.38
Other Income 1.09 2.09
Total Expenditure 3106.27 3093.71
Interest Cost 0.00 0.00
Profit before depreciation(PBDT) 2.55 4.76
Depreciation 0.29 0.24
Profit before Tax 2.26 4.52
Provision for tax 0.68 1.75
Deferred Tax 1.39 107.54
Profit after tax 0.19 (104.77)
Less : Proposed Dividend 0.00 0.00
Less : Transfer to G.R 0.19 (104.77)
Balance carried forward to B/S 0.00 0.00
OPERATION
During the year under review the Company has achieved turnover of Rs.
31.07 Crore as compare to Rs.30.96 Crore during last year.The
management is taking appropriate step to improve Company''s bottom line.
CURRENT YEAR OUTLOOK
The Company is planning to participate/ visit various jewellery show
domestic and aboard. Barring unforeseen circumstances the management is
hopeful of achieving higher turnover during the year. Company has
started real estate business along with existing business of diamond
and diamond jewellery. Company intends to shift his registered office
to 3rd Floor, Panchdhara Complex, Above Mistubishi Show Room, Beside
Grand Bhagwati, S.G.Highway, Ahmedabad (Gujarat) 380054.
DIVIDEND
No Dividend has been recommended by the Board as there was not
sufficient profit in the company during the year.
DIRECTORS:
In accordance with the provisions of the Companies Act, 1956 and the
company''s Articles of Association Mr.Saurabh Shah, Director of the
Company, retires by rotation and being eligible, offers himself for re-
appointment.
In accordance with the provisions of the Companies Act, 1956 and the
company''s Articles of Association Mr. Ramji Khimji Rajput, Director of
the Company, retires by rotation and being eligible, offers himself for
re- appointment.
AUDITORS:
The Company''s Auditors M/s. S. K JHA & Co., Chartered Accountants
retire on the conclusion of the forthcoming Annual General Meeting and
are eligible for reappointment.
PUBLIC DEPOSITS:
Your Company has not accepted any fixed deposits within the meaning of
Section 58A from the public under Companies Act, 1956 and the Companies
(Acceptance of Deposits) Rules, 1975.
AUDITOR''S REPORT:
The auditors of the Company has pointed out that the company has not
made provision for depreciation amount to Rs. 38,99,135 for Daman
asset. The management of the company is of the opinion that the same
need not be provided as no manufacturing activities have been
undertaken during the financial year. Except above observations made
in the Auditor''s report are self explanatory and do not call for any
further comments under section 217(3) of the Company Act 1956.
PARTICULARS OF EMPLOYEES:
There were no employees whose remuneration were in excess of the limits
prescribed under section 217(2A) of the companies Act, 1956 read with
the companies (Particulars of Employees) Rules 1975.
DISCLOSURE UNDER SECTION 274(l)(g):
None of the Directors of the Company are disqualified for being
appointed as Directors as specified under section 274(1) (g) of the
Companies Act, 1956, as amended by the Companies (Amendment) Act, 2000.
PARTICULARS REQUIRED UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS IN
THE REPORT OF BOARD OF DIRECTORS) RULE, 1988 FOR THE YEAR ENDED 31ST
MARCH 2014±
CONSERVATION OF ENERGY, TECHNOLGY ABSORPTION AND FOREIGN EXCHANGE
EARINGS/OUTGOING
Information required under section 217(l)(e) of Companies Act.
CONSERVATION OF ENERGY,
The company''s operations involve very low energy consumption, whenever
possible measures have already been implemented. The measures set out
above do not have any significant impact on the overall cost of the
production.
TECHNOLGY ABSORPTION
No technology has been imported during the year.
FOREIGN EXCHANGE EARINGS/OUTGO
The Company mainline of Business is the manufacturing of Diamond
Studded Gold, Jewellery & Trading in Cut & Polished Diamonds.
Total Foreign Exchange Earned : 12,85,069
Total Foreign Exchange Outgo : NIL
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors,
based on the representation received from the operating management,
confirm that
i) That In the presentation of the Annual Accounts for the financial
year ended 31st March,2014 the applicable accounting standards has been
followed along with proper explanation relating to material departures,
if any;
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 true and fair view of the state of
affairs of the Company at the end of the financial year ended 31st
March,2014 and 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) The annual accounts for the year ended 31st March, 2014 have been
prepared on a ''going concern bases.
LISTING
The Equity shares of the Company are listed at BSE Limited. The Company
has paid the Annual listing fee to the above Stock Exchange.
CORPORATE GOVERNANCE
Pursuant to Clause 49 of the listing agreements with Stock Exchanges, a
Management Discussion & Analysis, Corporate Governance Report and
Auditors Certificate regarding compliance of conditions of Corporate
Governance are made part of the Annual Report.
ACKNOWLEDGEMENTS
Your Directors wish to thank Shareholders, Suppliers, Customers, Banks
and Employees for their co-operation and support. Your Directors also
wish to place on record the support of the Financial Institutions.
For the Board of Directors
For SHUKRA JEWELLERY LIMITED
Chandrakant Shah,
Director
REGISTERED OFFICE:
12, Zodiac Square, 3rd Floor,
Opposite Gurudwara, S.G. Highway, Bodakdev,
Ahmedabad
Gujarat -380054
Place : Mumbai
Date : 31.07.2014
Mar 31, 2013
To, The Members of SHUKRA JEWELLERY LIMITED
The Directors take great pleasure in presenting the 22nd Annual Report
of the Company together with the Audited Accounts for the year ended
31st March, 2013
FINANCIAL RESULTS:
31st March 2013 31st March 2012
Rs.(ln lakhs) Rs.(In lakhs)
Income from Operations 3096.38 3465.40
Other Income 2.09 6.02
Total Expenditure 3093.71 3448.23
Interest Cost 0.00 0.00
Profit before depreciation(PBDT) 4.76 23.19
Depreciation 0.24 0.23
Profit before Tax 22.96
Provision for tax 1.75 0.00
Deferred Tax 107.54 (0.03)
Profit after tax (104.77) 22.99
Less : Proposed Dividend 0.00 0.00
Less: Transfer to G.R (104.77) 22.99
Balance carried forward to B/S 0.00 0.00
OPERATION
During the year under review the Company has achieved turnover of Rs.
30.96 Crore as compare to Rs.34.65 Crore during last year. The
management is taking appropriate step to improve Company''s bottom line.
CURRENT YEAR OUTLOOK
The Company is planning to participate/ visit various jewellery show
domestic and aboard.
Barring unforeseen circumstances the management is hopeful of achieving
higher turnover during the year.
DIVIDEND
No Dividend has been recommended by the Board as there was not
sufficient profit in the company during the year.
DIRECTORS:
In accordance with the provisions of the Companies Act, 1956 and the
company''s Articles of Association Mr.Anil Patel, Director of the
Company, retires by rotation and being eligible, offers himself for re-
appointment.
In accordance with the provisions of the Companies Act, 1956 and the
company''s Articles of Association Mrs. Mayuri Shah, Director of the
Company, retires by rotation and being eligible, offers herself for
re-appointment.
In accordance with the provisions of the Companies Act, 1956 and the
Company''s Articles of Association Mr. Gaurav C Shah has been appointed
as an additional director on 04th June 2013 under provision of the
section 262 of the Companies Act, 1956.
In accordance with the provisions of the Companies Act, 1956 and
Company''s Article of Association Mr. Sandip Shah has been appointed as
an additional (Independent) director on 25th July, 2013 under the
provisions of the Section 260 of the Companies Act, 1956 and. Mr.
Gaurav shah has resigned from the directorship on 25th July, 2013.
AUDITORS
The Company''s Auditors M/s. S. K JHA & Co., Chartered Accountants
retire on the conclusion of the forthcoming Annual General Meeting and
are eligible for reappointment.
PUBLIC DEPOSITS:
Your Company has not accepted any fixed deposits within the meaning of
Section 58A from the public under Companies Act, 1956 and the Companies
(Acceptance of Deposits) Rules, 1975.
AUDITOR''S REPORT
The auditors of the Company has pointed out that the company has not
made provision for depreciation amount to Rs. 44, 70,110 for Daman
asset. The management of the company is of the opinion that the same
need not be provided as no manufacturing activities have been
undertaken during the financial year.
Except above observations made in the Auditor''s report are self
explanatory and do not call for any further comments under section
217(3) of the Company Act 1956.
PARTICULARS OF EMPLOYEES
The were no employees whose remuneration were in excess of the limits
prescribed under section 217(2A) of the companies Act, 1956 read with
the companies (Particulars of Employees) Rules 1975.
DISCLOSURE UNDER SECTION 274(l)(g)
None of the Directors of the Company are disqualified for being
appointed as Directors as specified under section 274(1) (g) of the
Companies Act, 1956, as amended by the Companies (Amendment) Act, 2000.
PARTICULARS REQUIRED UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS IN
THE REPORT OF BOARD OF DIRECTORS) RULE, 1988 FOR THE YEAR ENDED 31st
MARCH 2013.
CONSERVATION OF ENERGY. TECHNOLGY ABSORPTION AND FOREIGN EXCHANGE
EARINGS/OUTGOING
Information required under section 217(l)(e) of Companies Act.
CONSERVATION OF ENERGY.
The company''s operations involve very low energy consumption, whenever
possible measures have already been implemented. The measures set out
above do not have any significant impact on the overall cost of the
production.
TECHNOLGY ABSORPTION
No technology has been imported during the year.
FOREIGN EXCHANGE EARINGS/OUTGO
The Company mainline of Business is the manufacturing of Qiamond
Studded Gold, Jewellery & Trading in Cut & Polished Diamonds.
Total Foreign Exchange Earned NIL
Total Foreign Exchange Outgo NIL
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors,
based on the representation received from the operating management,
confirm that
i) That In the presentation of the Annual Accounts for the financial
year ended 31st
March,2013 the applicable accounting standards has been followed along
with proper explanation relating to material departures, if any;
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 true and fair view of the state of
affairs of the Company at the end of the financial year ended 31st
March,2013 and 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) The annual accounts for the year ended 31st March, 2013 have been
prepared on a ''going concern basis''.
LISTING
The Equity shares of the Company are listed at BSE Limited. The Company
has paid the Annual listing fee to the above Stock Exchange.
CORPORATE GOVERNANCE
Pursuant to Clause 49 of the listing agreements with Stock Exchanges, a
Management Discussion & Analysis, Corporate Governance Report and
Auditors Certificate regarding compliance of conditions of Corporate
Governance are made part of the Annual Report.
ACKNOWLEDGEMENTS
Your Directors wish to thank Shareholders, Suppliers, Customers, Banks
and Employees for their co-operation and support. Your Directors also
wish to place on record the support of the Financial Institutions.
Place: Mumbai For the Board of Director
Date : 29.07.2013 For SHUKRA JEWELLERY LIMITED
REGISTERED OFFICE:
S-6/14, Chirag Industrial
Complex, Chandrakant Shah,
39/40, Golden Industrial Estate, Director
Somnath Road Daman (U.T) 396210
Mar 31, 2011
The Directors take great pleasure in presenting the 20 Annual Report
of the Company together with Audited Accounts for the year ended on
March 31, 2011.
(Rs. IN LAKHS)
PARTICULARS 31.03.2011 31.03.2010
(AUDITED) (AUDITED)
Net Income From Operations 3362.74 3375.02
Other Income 0.95 2.57
Total Expenditure 3223.46 3284.97
Interest 0.00 0.00
Profit Before Depreciation 103.50 307.35
Depreciation 59.06 31.68
Tax 0.00 0.00
Deferred Tax (135.80) 242.61
Profit After Tax (91.36) 275.68
Add: Balance B/F from the
Previous year
Less: FBT 0.00 0.00
Balance available for Appropriation 0.00 0.00
Less: Proposed Dividend 0.00 0.00
Less: Transfer to G.R (91.36) 275.68
Balance Carried Forward to 0.00 0.00
Balance Sheet
Note :-Profit after tax consist deferred tax(Assets) Rs. (135.80) lakhs
OPERATION
During the year under review, the Company has achieved turnover of Rs
33.63 crore as compare to Rs 33.75 approx during last year. The
management is taking appropriate step to improve Company's bottom line.
CURRENT YEAR OUT LOOK
The Company is planning to participate/visit various jeweler shows
domestic and abroad.
Barring unforeseen circumstances the management is hopeful of achieving
higher turnover during the year.
DIVIDEND
The Board has not recommended any dividend due to insufficient profit.
DIRECTORS
SHRI ANIL M PATEL ,SHRI. VINOD SHAH AND SHRI. NASIR UL HAQ have been
reappointed as independent directors of the Company.
In accordance with the provision of the Companies Act, 1956 Mayuri
C.Shah director, retires by rotation and being eligible offers him for
reappointment.
AUDITORS
The Auditor's of the Company M/S A D Lalwani & Associates, Chartered
Accountants, retire at the conclusion of the ensuing Annual General
Meeting .
FIXED DEPOSITS
Your company has not accepted any fixed deposits within the meaning of
section 58 A from the public under the companies Act, 1956 and the
rules made there under.
AUDITOR'S REPORT
Observations made in the Auditor's Report are self explanatory and
therefore do not call for any further comments under section 217(3) of
the companies Act, 1956.
PARTICULARS OF EMPLOYEES
There were no employees whose remuneration were in excess of the limits
prescribed under section 217(2 A) of the companies Act, 1956. Hence no
particulars are given.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGOING.
The information pursurut to section 217 (i) (a) of the companies Act,
1956 read with the companies (Disclosure of particulars in the Report
of Board of Directors) Rules, 1988 if given below:
1. The Company's operation involve very low energy consumption,
wherever possible measures have already been implemented. The measure
set out above do not have any significant impact on the overall cost of
the production.
2. No technology has been imported during the year.
DIRECTOR'S RESPONSIBILITY STATEMENT
In accordance with the provisions of section 217 (2AA) of the Companies
Act, 1956, with respect to the Director's Responsibility Statement, it
is hereby confirmed:
i) That in the presentation of the annual accounts for the financial
year ended 31st March 2011, the applicable accounting standards has
been followed along with proper explanations relating to material
departures:
ii) That the Directors had selected such accounting policies and
applied them consistently and made judgements 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 had taken proper and sufficient care for the
maintenance of the adequate accounting records in accordance with the
provisions of the Act, 1956 for safeguarding the assets of the Company
and for preventing and detecting fraud and other irregularities.
iv) That the directors had prepared the accounts for the financial year
ended 31st March 2011 on a going concern basis.
ACKNOWLEDGEMENT
Your Directors take this opportunity to place on record their warm
appreciation and acknowledge with gratitude the assistance,
co-operation and support extended to your company by bankers, clients,
employees as well as the investing community and look forward to their
continued support.
Registered Office: By order of the Board
Chirag Industrial Estate
Somnath Road,
Daman-U.T. Chandrakant H Shah
Date:- 07.08.2011 Chairman & Managing Director
Mar 31, 2010
The Directors take great pleasure in presenting the 19th Annual Report
of the Company together with Audited Accounts for the year ended on
March 31,2010.
(Rs. IN LAKH)
PAPTICULARS 31.03.2010 31.03.2009
(AUDITED) (AUDITED)
Net Income From Operations 3375.02 3073.91
Other Income 2.57 1.93
Total Expenditure 3312.84 3063.20
Interest 0.00 0.00
Profit Before Depreciation 64.75 12.64
Depreciation 31.68 0.26
Tax 0.00 0.00
Deferred Tax 242.61 0.00
Profit After Tax 275.68 12.38
Add: Balance B/F from the
Previous year
Less: 0.00 0.00
Balance available for Appropriation 0.00 12.26
Less: Proposed Dividend 0.00 0.00
Less: Transfer to G.R 275.68 12.26
Balance Carried Forward to 0.00 0.00
Balance Sheet.
Note :- Profit after tax consist deferred tax (assets) Rs.242.61 lakhs
OPERATION
During the year under review, the Company has achieved turnover of Rs
33.75 crore as compare to Rs 30.73 approx during last year. The
management is taking appropriate step to improve Companys bottom line.
CURRENT YEAR OUT LOOK
The Company is planning to participate/visit various jewellery shows
domestic and abroad.
Barring unforeseen circumstances the management is hopeful of achieving
higher turnover during the year.
DIVIDEND
The Board has not recommended any dividend due to insufficient profit.
DIRECTORS
SHRI ANIL M PATEL ,SHRI. VINOD SHAH AND SHRI. NASIR UL HAQ have been
reappointed as independent directors of the Company.
AUDITORS
The Auditors of the Company M/S A D Lalwani & Associates, Chartered
Accountants, retire at the conclusion of the ensuing Annual General
Meeting and being eligible, offer themselves for appointment.
FIXED DEPOSITS
Your company has not accepted any fixed deposits within the meaning of
section 58A from the public under the companies Act, 1956 and the rules
made thereunder.
AUDITORS REPORT
Observations made in the Auditors Report are self explanatory and
therefore do not call for any further comments under section 217(3) of
the companies Act, 1956.
PARTICULARS OF EMPLOYEES
There were no employees whose remuneration were in excess of the limits
prescribed under section 217(2A) of the companies Act, 1956. Hence no
particulars are given.
CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGOING.
The information pursuant to section 217 (i) (a) of the companies Act,
1956 read with the companies (Disclosure of particulars in the Report
of Board of Directors) Rules, 1988 if given below:
1. The Companys operation involve very low energy consumption,
wherever possible measures have already been implemented. The measure
set out above do not have any significant impact on the overall cost of
the production.
2. No technology has been imported during the year.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of section 217 (2AA) of the Companies
Act, 1956, with respect to the Directors Responsibility Statement, it
is hereby confirmed:
i) That in the presentation of the annual accounts for the financial
year ended 31st March 2010, the applicable accounting standards has
been followed along with proper explanations relating to material
departures:
ii) That the Directors had selected such accounting policies and
applied them consistently and made judgements 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 had taken proper and sufficient care for the
maintenance of the adequate accounting records in accordance with the
provisions of the Act, 1956 for safeguarding the assets of the Company
and for preventing and detecting fraud and other irregularities.
iv) That the directors had prepared the accounts for the financial year
ended 31st March 2010 on a going concern basis.
ACKNOWLEDGEMENT
Your Directors take this opportunity to place on record their warm
appreciation and acknowledge with gratitude the assistance,
co-operation and support extended to your company by bankers, clients,
employees as well as the investing community and look forward to their
continued support.
Registered Office: By order of the Board
Chirag Industrial Estate
Somnath Road,
Daman -U.T. ChandrakantHShah
Date:- 07.08.2010 Chairman & Managing Director
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