Mar 31, 2014
Dear Members
The Directors have pleasure in Presenting their 22nd Annual Report of
the Company together with the Audited Annual Accounts of your company
for the financial year ended 31st March, 2014.
Financial results:
(Rs. In Lakhs)
PARTICULARS 2013-14 2012-13
Income from Sales 4816.87 7847.89
Increase in stock (305.50) 204.89
Total Income 4511.37 8052.78
Total Expenditure 4352.00 7104.84
Profit/(Loss) before tax and Provisions 159.37 947.94
Provisions for Fringe Benefit Tax 0 0
Deferred Tax Liability (0.55) (0.55)
Profit for the year 156.78 944.73
Results from Operations:
During the year under review, your Company made a Turnover of Rs.
4816.87 lakhs as against Rs. 7847.89lakhs and gained a profit of Rs.
156.78 lakhs as against a Profit of Rs.944.73 Lakhs for the Previous
Year.
Share Capital:
The Paid-up Share Capital of your Company stands at Rs. 8,99,61000/-
(Eight crores ninety nine lakhs sixty one thousand only) as on 31st
March, 2014.
Management Discussion & Analysis:
Pursuant to Clause 49 of the Listing Agreement with the Stock
exchanges, the Management Discussion and Analysis report are annexed to
this Report and forms part of this Annual Report.
Deposits:
Your Company has not accepted any Deposits from the Public during the
year Pursuant to Section 58A of the Companies Act, 1956.
Directors:
The Board of Directors proposes to appoint all the existing Independent
Directors i.e., Shri Rambabu Rupakula and Mr. Sagi Venkata Vanshi
Krishna under Section 149 of the Companies Act 2014 so that they can
act as Independent Directors of the Company for Two terms of 5 years
each from the ensuring Annual General Meeting.
Dividend:
The Company has made profit during the year, however to conserve
resources required for future plans in the coming years, your Directors
do not recommend payment of dividend on the equity shares.
Corporate Governance:
As required by clause 49 of the Listing Agreements, a separate section
containing the Report on Corporate Governance together with the
Certificate on the compliance with the conditions of corporate
Governance issued by Practicing Chartered Accountants are appended
hereto and they form part of this Annual Report.
Auditors:
The Auditors i.e. Hari Vara Prasad & Associates, Chartered Accountants,
have expressed their unwillingness to continue in office from the
conclusion of this Annual General Meeting.
M/s. Nalini & Murali Chartered Accountants, Hyderabad have expressed
their willingness to continue in office from the conclusion of this
Annual General Meeting until the conclusion of this next Annual General
Meeting at a remuneration be fixed by the Board of Directors.
Director''s 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, 2014, the applicable accounting standards have
been followed along with proper explanation relating to material
departures;
(ii) Appropriate accounting policies have been selected and applied
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 i.e., 31st March, 2014 and
of the profits of the Company for that period.
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting record in accordance with provisions of the
Companies Act, 1956 for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
(iv) The Directors have prepared the Accounts for the financial year
ended on 31st March, 2014 on a going concern basis.
Employees:
Your Company has no employee whose remuneration exceeds the limits
prescribed Under section 217(2A) of the Companies Act, 1956. Hence the
Information required under the said section, read with the Companies
(Particulars of the Employees) Rules, 1975, has not been given in the
Report.
For and on behalf of the Board of Directors
M/s Genera Agri Corp Limited
(M. Rajesh Naidu) R. Ramakrishnam Raju
Managing Director Director
(DIN- 01920908) (DIN-05351859)
Place: Hyderabad
Date : 4th September, 2014
Mar 31, 2012
To The Members of Genera Agri Corp Limited
The Directors Present 20th Annual Report of the Company together with
the audited Financial Results for the year ended on 31s''March, 2012.
Financial Results : (Rs. In Lakhs)
Standalone (Mar''12)
PARTICULARS Current
Year Previous
Year
2011-2012
Income from Sales 9868.04 8597.98
Increase in stock 394.66 -91.82
Total Income 10262.70 8508.94
Total Expenditure 8265.79 6346.44
Profit/(Loss) before tax
and Provisions 1996.90 2162.49
Provisions for Fringe Benefit Tax 0 0
Deferred Tax Liability 1.65 2.65
Profit for the year 1990.61 2114.60
Results from Operations :
During the year under review, your Company made a Turnover of Rs.
9868.04 lakhs as against Rs. 8597.98 lakhs and gained a profit of Rs.
1996.90 lakhs as against a Profit of Rs. 2162.49 Lakhs for the Previous
Year.
Share Capital:
The Paid-up Share Capital of your Company stands at Rs. 8,99,61,000/-
(Eight crores ninety nine Lakhs sixty one thousand only) as on 31st
March, 2012.
Subsidiary Companies
1. Genera Agri Global Limited, (Dubai)
New Venture:
2. M/s. Genera Agri Tanzania Limited, Tanzania (subsidiary)
The company has floated a Subsidiary by the name "M/s. Genera Agri
Tanzania Limited" in Tanzania on 25"1 November, 2011. The objective is
to create a platform for investing and trading in ever-growing sector of
foods (grow short term crops, medium term crops and long term crops
i.e., Grow Maize/Barley-Sugar Cane, Palm, etc.)and biofuels.
Management Discussion & Analysis:
Pursuant to Clause 49 of the Listing Agreement with the Stock
exchanges, the Management Discussion and Analysis report are annexed to
this Report and forms part of this Annual Report.
Deposits
Your Company has not accepted any deposits from the Public during the
year Pursuant to Section 58A of the Companies Act, 1956.
Directors:
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mrs. M. Kalpana Raj, Whole-time
Director of the Company, retires by rotation at ensuing 20th Annual
General Meeting and being eligible, offer herself for Re-appointment.
None of the Directors of the Company are disqualified from being
appointed as directors as specified in section 274(1) (g) of the
Companies Act, 1956 as amended.
Dividend:
The Company has made profit during the year, however to conserve
resources required for future plans in the coming years, your Directors
do not recommend payment of dividend on the equity shares.
New Listing:
The Equity Shares of your company are also now listed in Calcutta Stock
Exchange Limited (w.e.f. 4*1 May, 2012).
Corporate Governance:
As required by clause 49 of the Listing Agreements, a separate section
containing the Report on Corporate Governance together with the
Certificate on the compliance with the conditions of corporate
Governance issued by Practicing Chartered Accountants are appended
hereto and they form part of this Annual Report.
Auditors:
The Auditors i.e. M/s. Hari Vara Prasad & Associates, Chartered
Accountants, are retiring as Auditors of the Company, but being
eligible, have offered themselves for re-appointment. M/s. Hari Vara
Prasad & Associates have furnished a certificate of their eligibility
under Section 224 (1B) of the Companies Act, 1956. Board of Directors
recommends their re-appointment.
Director''s 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) in the preparation of the annual accounts for the financial
yearended31stMarch,2012,theapplicable accounting standards have been
followed along with proper explanation relating to material departures;
(ii) Appropriate accounting policies have been selected and applied
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 i.e., 31s'' March 2012 and
of the profit of the company for that period.
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 and for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities.
(iv) That the Annual Accounts have been prepared on a going concern
basis.
Employees
Your Company has no employee whose remuneration exceeds the limits
prescribed Under section 217(2A) of the Companies Act, 1956. Hence the
Information required under the said section, read with the Companies
(Particulars of the Employees) Rules, 1975, has not been given in the
Report.
Conservation of Energy & Technology Absorption, Foreign Exchange
Earnings and Outgo
A. Conservation of Energy:
(a) Energy Conservation measures taken : Adequate measures have been
taken to conserve energy wherever possible.
(b) Additional investments and proposals, if any, being implemented for
reduction of consumption of energy NIL
(c) Impact of the measures (a) and (b) above for energy consumption and
consequent impact on the cost of production of goods N.A.
B. Technology Absorption:
(i) Research and Development (R&D):
(a) Specific areas in which R&D carried out by the Company
The Company continues to focus and invest in R & D activities to
produce and sell one of the best quality vegetables and fruits to meet
the International Standards
(b) Benefits derived as a result of the R&D
: Research and development in the present business will continue to be
of importance to your company and contributes higher benefit to the
company and its profitability.
(c) Future plan of Action : The Company continues to strive to provide
a premium quality produce to domestic customers in order to meet their
changing preferences and needs.
(d) Expenditure on R & D : The expenditure on R & D is not separately
classified, as there is no separate R&D division.
(ii) Technology Absorption, Adaptation and Innovation:
The requisite information under the head is not applicable to company
as there were no imports of any technology.
C. Foreign Exchange Earnings & Outgo
(in Rs)
2011-2012 2010-2011
Foreign Exchange Earnings 33,30,77 17,92,380
Foreign Exchange Outgo Nil Nil
Acknowledgments
Your Directors are pleased to place on record for the appreciation and
for the excellent support, guidance and co- operation extended by the
Customers, Shareholders, Business Associates, vendors and Government
Authorities.
Your Directors also wish to place on record their appreciation for the
sincere services rendered by the employees of your Company during the
year. Their dedication, teamwork and efficiency have been commendable.
For and on behalf of the Board of Directors
M/s. Genera Agri Corp Limited
(M. Rajesh Naidu) (M. Kalpana Raj)
Managing Director Whole-time Director
Place : Hyderabad
Date : 3rd September, 2012
Mar 31, 2011
The Directors present 19th Annual Report of the Company together with
the audited Financial Results for the year ended on 31st March 2011.
Financial Results (Rs. in Lakhs)
Particulars Current year Previous year
2010-2011 2009-2010
Income from sales 8580.06 4489.25
Increase in stock - -91.82 605.08
Total Income 8509 5094.33
Total Expenditure 6346.45 3972.43
Profit / (Loss) before tax and provisions 2162.49 1121.9
Provisions for Fringe Benefit Tax 0 0
Deferred Tax Liability -2.65 -11.44
Profit for the year 2114.61 1110.46
Profit / (Loss) brought forward from
earlier years 1329.98 219.52
Profit/ (Loss) before Adjustments 3444.59 1329.98
Amount carried to Balance-sheet 3444.59 1329.98
Results from Operations
During the year under review, your Company made a Turnover of Rs.
8580.06 Lakhs as against Rs. 4489.25 Lakhs and gained a profit of Rs.
2114.61 Lakhs as against a profit of Rs. 1110.46 Lakhs for the previous
year.
Share Capital
The paid-up Share Capital of your Company stands at Rs. 12,50,00,000/-
(Rupees Twelve Crores Fifty Lakhs only) as on 31st March, 2011.
During the year, the company has made a Bonus Issue of Equity Shares
capitalizing its reserves in the ratio of 2:1 i.e. Two Equity Shares of
Rs. 10/- each for every One Equity Share of Rs. 10/- each held with an
approval of Shareholders in their meeting held on 28th March, 2011.
Board of Directors of the Company in their meeting held on 30th March,
2011, issued and allotted 59,97,400 Equity Shares of Rs. 10/- as Bonus
Shares to the existing shareholders. Further, the allotted Bonus Shares
of the Company are listed on the Madras Stock Exchange Limited
New Venture
M/s. Genera Agri Global Limited, Dubai
Genera Agri Corp Limited ("GACL") has set up an Wholly-owned Subsidiary
Company "M/s. Genera Agri Global Limited" in Dubai on 30th March, 2011.
The Company will be acting as Investment Company, which invests in its
own Subsidiary Companies in Dubai and Middle East Countries with the
objective of creating a platform for Investing and trading in ever
growing sector of food and biofuels. Genera Agri Global plans to invest
in large scale farming in Malawi, Mozambique, Tanzania, Ethiopia and
Canada for cultivation of crops such as Sugarcane and Sweet Sorghum for
Fuel and Rice, Wheat, Maize , Sorghum to meet the ever increasing
demand for food and fuel crops.
Management Discussion & Analysis
Pursuant to Clause 49 of the Listing Agreement, a report on the
management discussion and analysis is enclosed herewith. Deposits
Your Company has not accepted any Deposits from the public during the
year pursuant to Section 58A of the Companies Act 1956.
Employees
Your Company has no employee whose remuneration exceeds the limits
prescribed under Section 217(2A) of the Companies Act, 1956. Hence, the
information required under the said section, read with the Companies
(Particulars of the Employees) Rules, 1975, has not been given in the
Report.
Directors
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mr. M. Rajesh Naidu, Managing
Director of the Company, retire by rotation at the 19th Annual General
Meeting and being eligible, offer himself for re-appointment.
Board of Directors have co-opted Mr. Rambabu Rupakula, Mr Sagi Venkata
Vanshi Krishna and Mr. Nadipalli Venkata Rama Rao as Additional
Directors on the Board and they are proposed for reappointment at the
ensuing Annual General Meeting. Brief particulars of the Director
proposed to be re-appointed are given at the end of the Notice of the
Annual General Meeting.
None of the directors of the Company are disqualified from being
appointed as directors as specified in section 274(1) (g) of the
Companies Act, 1956, as amended.
Auditors
M/s. Hari Vara Prasad & Associates, Chartered Accountants, are retiring
as Auditors of the Company, but being eligible, have offered themselves
for re-appointment. M/s. Hari Vara Prasad & Associates, have furnished
a certificate of their eligibility under Section 224 (1B) of the
Companies Act, 1956. Board of Directors recommends their
re-appointment.
Corporate Governance:
As required by Clause 49 of the Listing Agreements, a separate section
containing the Report on Corporate Governance together with the
Certificate on the compliance with the conditions of corporate
governance issued by Practicing Chartered Accountants are appended
hereto and they form part of this Annual Report.
Directors'' Responsibility Statement
As required by Section 217 (2AA) of the Companies Act, 1956, the Board
of Directors of the Company hereby state and confirm that:
i) in the preparation of the annual accounts for the Financial Year
ended 31st March, 2011, the applicable accounting standards had been
followed along with proper explanation relating to material departures.
ii) Appropriate accounting policies have been selected and applied
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 i.e., 31st March 2011 and
of the profit of the company for that period.
iii) proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 and for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities.
iv) The annual accounts have been prepared on a going concern basis.
Dividend
The Company has made profit during the year, however to conserve
resources required for future plans in the coming years, your Directors
do not recommend payment of dividend on the equity shares.
Acknowledgments
Your Directors wish to place on record their appreciation for the
support extended by government authorities, bankers, customers and
shareholders of the Company.
Your Directors also wish to place on record their appreciation for the
sincere services rendered by the employees of your Company during the
year. Their dedication, teamwork and efficiency have been commendable.
For and on behalf of Board of Directors
M/s. Genera Agri Corp Limited
Place: Hyderabad (M. Rajesh Naidu) (M. Kalpana Raj)
Date: 29th August, 2011 Managing Director Whole-Time Director
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