Mar 31, 2014
The Members,
Kiran Print Pack Limited,
The Directors have pleasure in presenting the 25th Annual Report of
your company together with the Audited Accounts for the year ended 31st
March 2014.
FINANCIAL HIGHLIGHTS
Your company''s performance during the year as compared with the
previous year is summarized as below:
(Rs. in Lacs)
For the year ended For the year ended
31st March, 2014 31st March, 2013
Revenue from operations 21.19 37.99
Other income 3.09 3.00
Profit /(Loss)before exceptional
items and tax (21.45) (8.80)
Profit / (Loss) for the year 44.78 (54.62)
Balance Carried Forward to
Balance Sheet (152.40) (197.19)
Basic & Diluted EPS .90 (1.09)
OPERATIONS:
The turnover /income from operation of the Company have been recorded
at Rs. 21.19 Lacs during the year under review, operating income
reduced in comparison with previous Financial Year recorded at Rs.37.99
Lacs of the Company.
The turnover and operating margins in an environment of lower demand
has put severe pressure on the Company''s turnover and profitability.
During the year under review, the continuous efforts of the Company to
streamline and optimize its operations.
DIVIDEND:
In view of the losses incurred by the Company, your Directors have not
recommended any dividend for the financial year ended 31stMarch 2014.
MATERIAL CHANGE:
There was no material change affecting the financial position of the
company between the date of Balance Sheet and the date of this Report.
CHANGE OF THE REGISTERED OFFICE
The Board of Directors at their meeting held on 30th May 2013, approved
the change of Registered Office of the Company to W- 166 E, TTC
Industrial Area, MIDC Pawane, Navi Mumbai- 400709 and same was approved
by the members of KIRAN PRINT PACK LIMITED the resolutions processed or
conducting by way of Postal Ballot and result declare on 9thJuly 2013.
SHARE CAPITAL
During the year under review, your Company''s Authorized Share Capital
has remain unchanged at Rs.6,00,00,000 (Rupees Six Core) comprising
60,00,000 Equity Shares of Rs.10/- each.
During the year under review, your Company''s Paid-up Equity Share
Capital has also remained unchanged at Rs.5,00,29,000 (Rupees Five
Crore Twenty Nine Thousand) comprising 50,02,900 Equity Shares of 10/-
each.
SUBSIDIARY COMPANIES:
The Company does not have any subsidiary as on 31st March, 2014.
EMPLOYEES STOCK OPTION SCHEME(S):
During the year ended 31st March 2014. The Company has not floated any
scheme in relation to Employees Stock Option(s) and no such further
plans have been initiated at present in this regards.
RISK MANAGEMENT:
The Company has established system and framework to control the risk
management. Under this system management identified across all business
processes of the Company on continuous basis and when management
identified, these risks are systematically catego- rized and proper
procedures for risk assessment and minimization thereof have been laid
down by the management of the Company in accordance with the
Company''s exposure to the all types of business risks involved in the
operations of the Company.
PUBLIC DEPOSITS:
The Company has not accepted any public deposits during the financial
year under section 58A of the Companies Act, 1956 (correspond- ing to
section 73 of the Companies Act, 2013) read with Companies (Acceptance
of Deposits) Rules, 1975.
PARTICULAR OF EMPLOYESS:
Information as per Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended from
time to time is not given, as there is no employee drawing salary more
than that mentioned under the said section.
EMPLOYEE RELATIONS:
Your Directors wish to place on record its appreciation of the
contribution made by all the employees in ensuring the highest levels
of performance and growth that your company has achieved during the
year.
SAFETY, HEALTH AND ENVIRONMENT:
Your Company recognizes its role in health and safety, as well as its
responsibility towards environment and society. Your Company''s goals
are: no accidents, no injuries to people and no damage to environment.
Safety and security of personnel, assets and environmen- tal protection
are also on top of the agenda of the Company. Clean environment and
sustainable development integrated with the business objective is the
focus of operations of the Company.
DIRECTORS:
Mr. Karan Kamal Mohta, director of the company retires by rotation and
being eligible offers himself for re-appointment.
Mr. Karan Kamal Mohta was appointed as an Managing director of the
company and Mrs. Sudha Mohta (lady director) was appointed as an
additional director of the company on Board Meeting dated 14th August
2014 and same was recommended to shareholder approval in forthcoming
Annual General Meeting .
(We regret to informed you that Mr. Kamal Kumar Mohta, Managing
Director of the company was suffering from major ailment and passed
away on 27th April 2014 and he was associated with the company since
inception.)
DIRECTORS'' RESPONSIBILITY STATEMENT
As required under Section 217(2AA) of the Companies Act,
1956(corresponding to section 134(5) of the Companies Act,2013) it is
hereby stated that:
1. In the preparation of the annual accounts, the applicable accounting
standards have been followed along with the proper explana- tion
relating;
2. The Directors have selected such accounting policies and applied
them consistently except as otherwise stated in the Notes on Accounts
and made judgments and estimate that are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company as
at end of the financial year (March 31st, 2014) and of the loss of the
Company for the Period under review;
3. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of all applicable laws for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities;
4. The Directors had prepared the accounts on a "going concern"
basis; and
5. The Directors have laid down internal financial controls to be
followed by the company and that such internal financial controls are
adequate and operating effectively.
AUDITORS:
The present Auditors of your Company, M/s. ASL & Co., Chartered
Accountants, Mumbai, hold office until the conclusion of this Annual
General Meeting. They have signed their willingness to accept
re-appointment and have further confirmed their eligibility under
Section 141 of the Companies Act, 2013
AUDITORS'' REPORT & NOTES ON ACCOUNTS
The observations made by the Auditors are self-explanatory and have
also been further amplified in the Notes to Accounts.
AUDIT COMMITTEE
The Company has an Independent Audit Committee, which is headed by Mr.
Dwarkadas Deokishan Bagri and comprises of Mrs. Sudha Mohta, Mr. Sanjay
Kumar Loiwal as members The Audit Committee of the Company has been
constituted as per provision of Section 177 of the Companies Act, 2013
(corresponding to section 292A of the Companies Act, 1956) and clause
49 of the Listing Agreement. The Audit Committee of the Company is
entrusted with the responsibility to supervise the Company''s internal
controls and financial.
CORPORATE GOVERNANCE REPORT
Pursuant to clause 49 of the Listing Agreement with Stock Exchange
Corporate Governance Report, the certificate as per the require- ment
of Clause 49 (V) of the Listing Agreement by the CEO/CFO, and
Certificate regarding Compliance of conditions of Corporate Governance
are annexed to the Annual Report.
EMPLOYEES WELFARE
The company''s focus on welfare and improving the quality of lives of
its people has continued as before. In order to improve the standard of
living of our employees, we have been providing educational assistance
to the children of employees. Safety in all aspects of work and even
personal safety is of utmost importance and the company is taking all
possible steps to ensure a safe working condition for all employees.
MANAGEMENT DISCUSSION AND ANALYSIS
As required by Clause 49 of the Listing Agreement with the stock
Exchanges, a Management Discussion and Analysis is appended to the
Annual Report.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:
The information relating to the conservation of energy, technology
absorption and foreign exchange earnings and outgo as required to be
disclosed under the Companies (Disclosure of Particulars in the Report
of the Board of Directors) Rules 1988, is given in Annexure forming
part of this Report.
ACKNOWLEDGEMENT
Your Directors would like to acknowledge and place on record their
sincere appreciation to all stakeholders - Clients, Financial
Institutions, Banks the Company''s valued investors and all other
business partners for their continued co-operation and excellent
support received during the year. Your Directors recognize and
appreciate the efforts and hard work of all the employees of the
Company and their continued contribution to its progress. and look
forward to their continued support in the future.
For and on behalf of the Board of directors
Place: Navi Mumbai Mr.Karan Kamal Mohta
Date : 14th August, 2014 Chairman of the Meeting
(Managing Director)
(DIN : 02138590 )
Mar 31, 2012
To, The Members of Kiran Print Pack Limited,
The Directors have pleasure in presenting the 22nd Annual Report of
your company together with the Audited Accounts for the year ended 31st
March 2012.
FINANCIAL RESULTS
Your companyÃs performance during the year as compared with the
previous year is summarized as below:
(Rs, in Lacs)
For the
year ended For the
year ended
31st March,
2012 31st March,
2011
Revenue from operations 57.07 46.59
Other income 283 1063
Profit /(Loss)before
exceptional items and tax
Profit for the year (9.47) (91.05)
Balance Carried Forward
to Balance Sheet 57) (133 10)
Basic & Diluted EPS (019) (182)
OPERATIONS:
The turnover /income from operation of the Company has been recorded at
Rs. 57.07 Lacs during the year under review, operating income increased
in comparison with previous Financial Year recorded at Rs.46.59 Lacs of
the Company .
The turnover and operating margins in an environment of lower demand
has put severe pressure on the CompanyÃs turnover and profitability.
During the year under review, the continuous efforts of the Company to
streamline and optimize its operations.
DIVIDEND:
In view of the losses incurred by the Company, your Directors have not
recommended any dividend for the financial year ended March 31, 2012.
MATERIAL CHANGE:
There was no material change affecting the financial position of the
company between the date of Balance Sheet and the date of this Report.
EMPLOYEES STOCK OPTION SCHEME(S):
During the year ended 31st March 2012. The Company has not floated any
scheme in relation to Employees Stock Option(s) and no such further
plans have been initiated at present in this regards.
RISK MANAGEMENT:
The Company has established system and framework to control the risk
management. Under this system management identified across all business
processes of the Company on continuous basis and when management
identified, these risks are systematically categorized and proper
procedures for risk assessment and minimization thereof have been laid
down by the management of the Company in accordance with the
CompanyÃs exposure to the all types of business risks involved in the
operations of the Company.
Public deposits:
The company has not accepted any public deposits during the financial
year under section 58A of the companies act, 1956 read with companies
(acceptance of deposits) rules, 1975.
Particular of employess:
Information as per section 217(2A) of the companies act, 1956 read with
the companies (particulars of employees) rules, 1975 as amended from
time to time is not given, as there is no employee drawing salary more
than that mentioned under the said section. Employee relations:
Your directors wish to place on record its appreciation of the
contribution made by all the employees in ensuring the highest levels
of performance and growth that your company has achieved during the
year.
Safety, health and environment:
Your company recognizes its role in health and safety, as well as its
responsibility towards environment and society. Your company's goals
are: no accidents, no injuries to people and no damage to environment.
Safety and security of personnel, assets and environmental protection
are also on top of the agenda of the company. Clean environment and
sustainable development integrated with the business objective is the
focus of operations of the company.
Directors:
Shri sanjay kumar loiwal, director of the company retires by rotation
and being eligible offers himself for re-appointment. DirectorsÃ
responsibility statement
As required under section 217(2AA) of the companies act, 1956 it is
hereby stated that:
1. In the preparation of the accounts, the applicable accounting
standards have been followed;
2. The directors have selected such accounting policies and applied
them consistently except as otherwise stated in the notes on accounts
and made judgments and estimate that are reasonable and prudent so as
to give a true and fair view of the state of affairs of the company as
at end of the financial year and of the loss of the company for the
period under review
3. The directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of the 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 accounts on a "going concernÃ
basis.
Auditors:
The present auditors of your company, m/s. Asl & co., chartered
accountants, mumbai, hold office until the conclusion of this annual
general meeting and being eligible, offer themselves for reappointment.
Auditorsà report& notes on accounts
The observations made by the auditors are self-explanatory and have
also been further amplified in the notes to accounts.
Audit committee
The company has an independent audit committee, which is headed by sh.
Dwarkadas bagari and comprises of sh. Karan kamal mohta, sh. Sanjay
kumar loiwal as members the audit committee of the company has been
constituted as per provision of section 292A of the companies act, 1956
and clause 49 of the listing agreement. The audit committee of the
company is entrusted with the responsibility to supervise the
companyÃs internal controls and financial Corporate governance report
Pursuant to clause 49 of the listing agreement with stock exchange
corporate governance report, the certificate as per the requirement of
clause 49 (v) of the listing agreement by the ceo/cfo, and certificate
regarding compliance of conditions of corporate governance are annexed
to the annual report.
MANAGEMENT ANALYSIS AND DISCUSSION
As required by Clause 49 of the Listing Agreement with the stock
Exchanges, a Management Discussion and Analysis is appended to the
Annual Report.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:
The information relating to the conservation of energy, technology
absorption and foreign exchange earnings and outgo as required to be
disclosed under the Companies (Disclosure of Particulars in the Report
of the Board of Directors) Rules 1988, is given in Annexure forming
part of this Report.
ACKNOWLEDGEMENT
Your Directors wish to place on record their appreciation for the
continual co-operation the company received from Bankers, Financial
Institutions, Shareholders, Dealers and Suppliers and also acknowledges
the invaluable contribution made by the employees and look forward to
their continued support in the future.
For and on behalf of the Board of directors
Place: Mumbai Kamal Kumar Mohta
Date : 6th August, 2012 Chairman of the Meeting
Mar 31, 2010
The Directors herewith present the Twenty First Annual Report and the
Audited Accounts for the year ended 31st March, 2010.
Financial Results:
(Rs. in lacs)
31.03.2010 31.03.2009
Operating Income 70.17 51.63
Other Income 15.02 39.55
Profit before Depreciation 17.96 33.73
Less: Depreciation 26.66 23.06
Profit after Depreciation (8.70) 10.67
Less/(Add): Provision for
Taxation
Current Tax 0.00 1.08
DeferredTax 41.03 1.69
Fringe Benefit Tax 0.00 0.71
Tax Adjustments in respect
of earlier years (0.47) 0.00
Profit/(Loss) after Tax (49.26) 7.19
Add: Balance as per last
Balance Sheet 7.21 0.02
Balance Carried Forward to
Balance Sheet (42.05) 7.21
Dividend:
In order to conserve the resources and insufficient profits, the
Directors do not recommend any Dividend for the year.
Operations:
During the year under review, the continuous efforts of the Company to
streamline and optimize its operations and aggressive marketing has
resulted an increase in operating income of Rs. 70.17 lacs which is
higher by 35.91 percent over the previous Financial Year and recorded
Rs. 15.02 lacs as the other income which includes rent and interest
income.
Your Company is keenly interested to induct new technology and upgrade
the existing technology to remain as one of the leading player and
competent amongst the peers in the printing and packaging industry
Directors Responsibility Statement:
Your Directors confirm that:
a. In the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
b. 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 loss of the
company for that period.
c. 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.
d. The annual accounts have been prepared on a going concern basis.
Corporate Governance:
Pursuant to clause 49 of the Listing Agreement with Stock Exchange,
Management Discussion and Analysis, Corporate Governance Report, the
certificate as per the requirement of Clause 49 (V) of the Listing
Agreement by the CEO/CFO, and Practicing Company Secretarys
Certificate regarding Compliance of conditions of Corporate Governance
are annexed to the Annual Report (Annex I).
Public Deposits:
Your company had not accepted any Public deposits during the year under
review.
Energy, Technology Absorption and Foreign Exchange:
Information required under Section 217(l)(e) of the Companies Act, 1956
read with the Companies (Disclosure of Particulars in the Report of the
Board of Directors) Rules, 1988 is not given as the Company has been
advised that the same are not applicable to it considering that the
company has no activity relating to conservation of energy and
technology absorption.
During the year under review, there were no foreign exchange earnings
and outgo of foreign exchange for Stores and Spares was Rs. 110,455 (
Previous Year Rs. 7,173,783).
Auditors Report:
With regard to the qualifications mentioned in the Auditors Report,
note No. 2 of the Notes to Accounts is self-explanatory.
Directors:
Shri Kishore Kumar Mohta and Smt. Kanta Mundra have resigned from the
directorship w.e.f. April 2, 2010. The Bpard of Directors has appointed
Shri Karan Kamal Mohta as Non-executive additional Directors and Shri
Sanjay Kumar Loiwal as Non-executive Independent additional Directors
w.e.f. April 2, 2010 and will hold office upto the date of the
forthcoming Annual General Meeting and are eligible for appointment as
Directors in the Annual General Meeting.
Shri Dwarkadas Bagri, Director, retires at the ensuing Annual General
Meeting and being eligible, offers himself for re-appointment.
Employee Relations:
Your Directors wish to place on record its appreciation of the
contribution made by all employees in ensuring the highest levels of
performance and growth that your company has achieved during the year.
Information as per Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended from
time to time is not given, as there is no employee drawing salary more
than that of mentioned under the said section.
Auditors:
The present Auditors of your Company, M/s. ASL & Co., Chartered
Accountants, Mumbai, hold office until the conclusion of this Annual
General Meeting and being eligible, offer themselves for re-
appointment.
Appreciation:
The Board has pleasure in recording its appreciation for guidance and
co-operation extended by the Bankers, the clients and vendors. The
Directors take this opportunity to express their appreciation towards
dedication, commitment and teamwork shown by the employees of the
Company, and look forward to their continued support in the future.
For and on behalf of the Board of directors
Kamal Kumar Mohta
(Managing Director)
Mumbai, June 18,2010
Registered Office
111, Sanjay Mittal Estate-2,
Andheri Kurla Road, Andheri (E),
Mumbai-400 059.
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