Mar 31, 2015
The Directors of your Company have pleasure in submitting their Annual Report together with the Audited Statement of Accounts for the year ended 31st March, 2015.
(Rs.In Lacs )
Particulars Year ended Year ended 31-03-15 31-03-14
Gross Turnover 1527.56 1434.28
Profit before Finance Costs, Depreciation,
Extraordinary items & Tax 72.89 65.65
Less: Finance Costs 42.01 28.25
Less: Depreciation And Amortization 7.17 19.21
Profit Before Tax (BPT) 23.71 18.19
Provision for Tax 7.83 6.62
Profit After Tax 15.88 11.57
Balance brought forward from previous year 29.82 18.25
Profit Available for appropriation 15.88 29.82
Securities Premium 17.79 -
Balance Carried to Balance Sheet 63.49 29.82
Paid-up Capital 169.23 84.50
Reserve and Surplus 63.49 29.82
Your Company registered a remarkable growth in its operations. The Operating profit before charging depreciation and finance cost amounted to Rs.72.89 lacs against Rs.65.65 lacs in the preceding year, representing a rise of 11.02%. Profit after tax amounted to Rs.15.88 lacs against Rs.11.57 lacs in the preceding year due to implementation of cost reduction measures & increase in productivity.
In view of requirement of financial resources and considering the future requirements of funds, your Directors are unable to recommend any Dividend for the year ended 31st March 2015
LISTING ON SME PLATFORM OF THE BSE LIMITED:
Yours Directors are pleased to inform you that your Company successfully listed its Securities on the SME Platform of the BSE Limited on 07-07-2015 and the Company has paid Listing Fees for the year 2015-16
INITIAL PUBLIC OFFERING:
Post Completion of initial public offer (IPO) of shares, your Company has fully spent/ utilized the proceeds of the funds raised under IPO as per the objects of the issue.
Efforts are being made to provide better result than earlier years. In view of the increased activities and expansions and programs to grab the emerging opportunities.
At the ensuing Annual General Meeting, Ms.Aggarwal Prem Tanvi director retire by rotation in terms of the Articles of Association of the Company and being eligible, offers herself for reappointment. A brief profile of the director is given in the notice of the 4th Annual General Meeting
A brief resume of director retiring by rotation seeking appointment at the ensuing Annual General Meeting, nature of her expertise in specific functional areas and names of companies in which she hold directorship and or membership/chairmanship of Committees of Board as stipulated under clause 49 of the Listing Agreement with the Stock Exchanges, are given in the section of Annual Report.
The Company has not accepted any fixed deposits from the public within the meaning of the Companies (Acceptance of Deposits) Rules 1975 during the year.
All the properties and the insurable interest of the company including building, plants and machinery and stocks wherever necessary and to the extent required have been adequately insured.
M/s.Balaji & Thulasiraman, Chartered Accountants, the auditors of the company, be and is hereby ratified for the financial year 2015-16 at such remuneration as may be determined by the Board of Directors of the Company.
In the opinion of the directors, the notes to the accounts are self-explanatory and adequately explained the matters, which are dealt with by the auditors.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the provisions of Section 134 of the Act, your Directors hereby confirm the following:
That in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;
That the Directors have 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 ended 31.03-2015 and of the Profit & Loss of the Company for that period;
That they had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.
That the directors have prepared the annual accounts on a going concern basis