Mar 31, 2015
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Mar 31, 2011
Dear Share Holders,
The Directors have pleasure in presenting the Ninteenth Annual Report
on the business and operations of the Company for the year ended March
31, 2011 and the Audited Statement of Accounts of the Company along
with Auditors Report thereon.
FINANCIAL HIGHLIGHTS Year Ended 31/03/2011
Sales & Other Income 170167492
Total Expenditure 156254055
Profit before Interest & Depreciation 13913437
Interest 0
Depreciation 5907770
Net Profit 8005667
Provision for Taxes 2350000
Income Tax Adjustments 92889
Surplus carried to Balance Sheet 5562778
EPS(Rs) 0.81
PERFORMANCE HIGHLIGHT
Despite Challenges, your company provided quality products and due to
this , your company had achieved its targets. Further the profit of
your company are better as compared to the correspondent Year.
This achievement has been made possible by the high effort of the staff
and the management of the company
BUSINESS
Your Company is mainly in the business of manufacturing of Automotive
Bulbs & Lights. The Automobile industry has booked fantastic growth
beyond their initial expectations,which is good signal for your
company. The Company holds 100% Export oriented status.
MODERNIZATION OF PLANT
Your company has recently installed an Automatic Line to produce
halogen bulbs, which is in continuation to its efforts for becoming
market leader in its line. All investments has been made from internal
Accruals. Your company has invested for R & D facility for
facilitating in New Development for new products as demanded in
European & American Market at low cost for high Quality products.
OPPORTUNITIES
Hie Marketing Team of your company is regularly in the process of
expanding its exports in the new markets as we are doing in the past as
well.
THREATS
- Regular Increase in Energy prices, Fuel Prices, Running Cost may
adversely affect the profitability of the company.
- Increase in the cost of work force may impact the profitability of the
company.
- Slow down of the economic situation ail over the world may effect the
sales and profitability of the company.
Your management is highly optimistic about the future.
LOCALIZING OF RAW MATERIALS
The management is towards urgently progress in localizing of Imported
raw materials in order to reduce its cost.
RISK AND CONCERN
Though the management keep complete watch on the expenses and wastage
at production level even the operating margins are under huge pressure
due to increase in energy prices, raw material cost & other input costs
are creating pressure on operating margins. It, may not be possible for
the company to recover the entire increase in raw material and input
costs from the customers.
SEGMENTWISE PERFORMANCE
As per the relative segment reporting requirements, the company
operates in Single Segment of Automotive Bulbs & Lights.
LISTING OF SHARES
The Equity Shares of the Company are listed on The Bombay Stock
Exchange Ltd., Mumbai, having Company Code 530711 and Delhi Stock
Exchange Association Ltd., having Company Code 7355. The Listing Fees
up to the Financial Year 2011 -12 has been paid.
INTERNATIONAL SECURITIES IDENTIFICATION NUMBER (ISIN)
The annual custodial fees for the Financial Year 2011-12 have been paid
to National Securities Depository Limited (NSDL) and Central Depository
Services Ltd., (CDSL). The ISIN Number of the company is INE144C01014.
REGISTRAR AND SHARE TRANSFER AGENT
The Members are requested to correspond with Companies. Registrar and
Share Transfer Agent "Mas Services Ltd., T-34, 2nd Floor Okhla
Industrial Area Phase -II, New Delhi - 110020" for change of address,
Physical transfer of shares, De-mat requests and other investors
related matters are placed before the Transfer Committee on fortnight
basis. Dematerialization of shares are processed within 15 days. Other
miscellaneous matters are processed by the Registrar within 30 days.
INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY
Your company has a proper and adequate system of internal controls
commensurate with its size to ensure that all assets are safeguarded
and protected against loss from unauthorized use or disposition and all
the transactions are authorized, recorded and reported correctly. It
ensures that all financial and other records are reliable for preparing
financial statements and other data for maintaining accountability of
assets.
CONSERVATION OF ENERGY
The company continues its policy of priority to energy conservation
measures including regular review of energy conservation, consumption
and effective control and utilization of energy.
QUALITY
Your company is quality driven organization. All personal are critical
during high growth. The theme of the management of your company is
quality oriented & committed to Quality.
DEVELOPMENT IN HUMAN RESOURCES
Sound Human resources development policies of the company ensures that
each employee as an individual and contributes to the performance of
the company, regular in house training programs for all employees help
in this objective.
Employees are the most valuable asset of the company. Your Company
strongly recommends that employees are the key pillar in our success it
is our belief that employees have to be given the right environment for
their talents to bloom and they need to be nurtured as one of our most
important assets. Our constant endeavor has therefore been to provide
them with an enabling atmosphere where they are motivated to deliver
their best. Initiatives have been taken to become a performance driven
organization by retaining and developing leadership potential. The
company is committed to continuously improve safety and health of
employees.
CAUTIONARY NOTE
Certain statements in the management discussions and analysis section
may be forward looking and are stated as required by applicable laws
and regulations, may affect the actual results, which would be
different from directors report and sales in terms of future
performance and outlook.
FIXED DEPOSIT / PUBLIC DEPOSITS
The company has not accepted any Fixed Deposits u/s 58A of the
Companies Act during the year under Review.
FOCUS POINT
The management of your company is committed for availability of funds,
localization of imported raw materials, impact of of commodity price &
quality. Growth, profitability & Customer satisfaction is the main
theme of your company.
ACTION PLAN
The management always work by concrete action plan for continuous
Growth & profitability. The Company has deployed new policies
such as :-
a) The staff of your company is all more efficient operations & more
productive people.
b) consolidated buying for favorable rates, c) Yield improvement, d)
Productivity, suggestion scheme, quality & people management.
AUDITORS
M/s Bhasin Raghavan & Co. Chartered Accountants, New Delhi, Auditors of
the Company retires at the ensuing Annual General Meeting and being
eligible offer themselves for re-appointment.
AUDITORS REPORT
The observation of the Auditors contained in the Auditors Report, read
with Notes on Accounts are self explanatory and do not call for any
further clarifications.
ACKNOWLEDGEMENT
The Board of Directors wish to place on record their gratitude to the
shareholders, State & Central Government authorities, vendors, bankers,
customers and other business associates for their support and
co-operation extended to the company,
Your Directors place on record their deep appreciation for exemplary
contribution of the employees at all levels.Their dedicated efforts and
enthusiasm has been inteqral to vour Company's impressive qrowth.
For and on Behalf of the Board of Directors
For Jagan Lamps Ltd.,
Sd/-
(S.P.Aggrawal)
Managing Director
Dated : 30.07.2011
Place : Kundli
Mar 31, 2010
The Directors have pleasure in presenting the Eighteenth Annual Report
on the Business and Operations of the Company for the year ended March
31, 2010 and the Audited Statement of Accounts of the Company along
with Auditors Report thereon.
FINANCIAL HIGHLIGHTS Year Ended 31/03/2010
Sales & Other Income 113415094
Total Expenditure 108035651
Profit before Interest & Depreciation 12088534
Interest 0
Depreciation 5087380
Net Profit 7001154
Provsion for Taxes 2085000
Income tax Adjustments 2522565
Surplus carried to Balance Sheet 2393589
EPS (Rs.) 0.35
PERFORMANCE HIGHLIGHT
As you are aware that the world is facing economic crises and the
business is facing severe recession but the sales of your company has
increased by about 6.25% as compared to the sales of previous year. The
profitablity of your company has also incressed as compared to the
correspondent year. This achievement has been made possible by the
entiring efforts of the staff and the management of your Company.
BUSINESS
Your Company is mainly in the Business of Manufacturing Automotive
Bulbs and Lights. The Company holds 100% Export oriented status.
During the year, your company has imported a new Automatic
manufacturing line of machine to produce best quality of Halogen bulbs.
This will increase the sales as well as the profitability of your
company.
OPPORTUNITIES
The Marketing Team of your company is in the process of expanding its
exports in the-new markets where your company is not representing at
the moment.
THREATS
- Regular Increse in Energy prices, Fuel Prices, Running Cost may
adversely affect the profitability of the Company.
- Increase in the cost of work force may have impact the profitability
of the company.
- Slow down of the econmic situation all over the world may effect the
sales and profitabilty of your company
RISK AND CONCERN
Though the management keeps complete watch on the expenses and wastage
at production level even then operating margins are under huge
presssure due to increase in energy prices, raw material cost & other
input costs, which are creating pressure on operating margins. It may
not be possible for the company to recover the entire increase in raw
materials and input costs from the customers.
SEGMENTWISE PERFORMANCE
As per the relative segment reporting requirments, the company operates
in Single Segment of Automotive Bulbs and Lights.
LISTING OF SHARES
The Equity Shares of the Company are listed on The Bombay Stock
Exchange Ltd., Mumbai, having Company Code 530711 and Delhi Stock
Exchange Association Ltd., having Company Code 7355. The Listing Fees
for the Financial Year 2010-11 has been paid.
INTERNATIONAL SECURITIES IDENTIFICATION NUMBER {ISIN)
The annual custodial fees for the Financial Year 2010-11 have been paid
to National Securities Depository Limited (NSDL) and Central Depository
Services Ltd.(CDSL). The ISIN Number of the company is INE144C01014.
REGISTRAR AND SHARE TRANSFER AGENT
The Members are requested to correspond with companys Registrar and
Share Transfer Agent"Mas Services Ltd., T-34, 2nd Floor Okhla
Industrial Area Phase-ll, New Delhi-110020" for Change of address,
Physical transfer of shares, Demat requests and other investor related
matters. lt is advised to send the request directly to the registrar &
share transfer agent for speedly disposal.
Shares lodged for transfer at the Registrars address are normally
processed and approved by the Share Transfer Commitee on fortnight
basis. Dematerjalization of shares are processed within 15 days. Other
miscellaneous matters are processed by the Registrar within 30 days.
INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY
Your Company has a proper adequate system of Internal Controls
commensurate with its size to ensure that all assets are safeguarded
and protected against loss from unauthorized use or disposition and the
transactions , are authorized, recorded and reported correctly. It
ensures that all financial and other records are reliable for preparing
financial statements and other data for maintaining accountability of
assets.
CONSERVATION OF ENERGY:
The Company Continues its policy of priority to energy conservation
measures including regular review of energy conservation, consumption
and effective control on utilisation of energy. As a responsible
citizen, the staff members, Managers & Managment of your company
commits to Promote Greenery, save water, save energy , minimise wastage
& encourage recyclling.
QUALITY POLICY AND CERTIFICATION :
The company is committed to provide consistent good quality products to
its worldwide customers and to achieve the world class quality in the
products manufactured. Every employee is involved in ensuring quality
of products at all times. Management on its part is fully committed to
further improve quality and provides all the sources to accomplish this
task. The Company is Certified for ISO 9001:2000 .
DEVELOPMENT IN HUMAN RESOURCE:
Sound Human resources development policies of the company ensures that
each employee as an individual and contributes to the performance of
the company, regular in house training programs for all employees help
in this objective.
Employees are the most valuable asset of the company. Your Company
strongly recommends that employees are the key pillar in our success it
is our belief that employees have to be given the right environment for
their talents to bloom and they need to be nurtured as one of our most
important assets. Our constant endeavor has therefore being to provide
them with an enabling atmosphere where they are motivated to deliver
their best. Initiatives have been taken to become a performance driven
organization by retaining and developing leadership potential. The
company is committed to continuously improve safety and health of
employees.
CAUTIONARY NOTE
Certain statements in the management discussions and analysis section
may be forward looking and are stated as required by applicable laws
and regulations, may affect the actual results, which would be
different from directors report and sales in terms of future
performance and outlook.
FIXED DEPOSIT/PUBLIC DEPOSITS
The Company has not accepted any Fixed Deposits U/s 58A of the
Companies Act during the year under Review.
AUDITORS
M/s Bhasin Raghavan & Co., Chartered Accountants, New Delhi, Auditors
of the Company, retires at the ensuing Annual General Meeting and being
eligible, offer themselves for re-appointment.
AUDITORS REPORT
The observations of the Auditors contained in the Auditors Report, read
with Notes on Accounts are self explanatory and do not call for any
further clarifications.
ACKNOWLEDGEMENT
The Board of Directors wish to place on record their gratitude to the
shareholders, State & Central Goverment authorities, vendors, bankers,
customers and other business associates for their support and
co-operation extended to the company.
Your Directors place on record their deep appreciation for exemplary
contribution of the employees at all levels.
Their dedicated efforts and enthusiasm has been integral to your
Companys impressive growth.
For and on Behalf of the Board of Directors
For Jagan Lamps Ltd.
sd/-
Dated : 31/07/2010 (S.P. Aggarwal)
Place : Kundli Managing Director