Directors Report of PH Trading Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in placing before you the 32nd Annual report of the Company together with the audited statement of account for the year ended March 31, 2014.

FINANCIAL RESULTS:

Profit during the year Rs. 18,40,333

Add : Previous year balance Rs. 21,923,614

Rs. 23,763,947

Less : Provision for taxation Rs. 7,00,000 Deffered Tax Rs. 22,318 Proposed dividend Rs. 4,80,000 Dividend Tax Rs. 81,552

Rs. 1,283,870

Balance transferred to Balance Rs. 22, 480,077 Sheet

DIVIDEND:

Your Directors are pleased to recommend a dividend @ Re. 1 per fully paid up equity shares of Rs. 10/- each for the year ended 31st March, 2014

DIRECTORS: .

Sri Rajendra Pd. Jhanwar, Director of the Company retire by rotation but being eligible offers himself for re- appointment. Directors Responsibility statement pursuant to section 217 (2AA) of the Companies Act, 1956.

The Directors hereby confirm. .

I) That in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departure.

II) That the directors had selected such accounting policies and applied them consistently and made judgements 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 or loss of the Company for that period.

III) That 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) That the directors had prepared the annual accounts on a going concern basis.

AUDITORS:

M/s. Salarpuria & Partners, Chartered Accountants of 7, Chittaranjan Avenue, Kolkata-72, the auditors of the Company and M/s M. B. Agarwal & Co. chartered Accountants of204, Mhatre Pen Building Senapati Bapat Marg, Mumbai-28 branch auditors M/s Kataruka & Co, Chartered Accountants of P-44, Rabindra Sarani, Kolkata-1, internal Auditors retire and are eligible and agreeable for reappointment.

DEPOSITS:

The Company has never accepted any deposit and as such absolves itself of any compliance in this behalf.

PERSONNEL:

There was no employee receiving remuneration according to section 217(2A) of the Companies Act and hence no statement has been given.

Information under section 217(1)E of the Companies Act., 1956,

Your Company has no activity relating to conservation of energy and Technology absorption. The Company does not have any foreign exchange earnings.but company srtart the import of chemicals and w.e.f.01-04-2012 company purchased a properietorship concern M/s. K. Kumar & Co. through slump sale basis.The board clarified about the qualification of the auditor that the company has granted loan on higher interest and on temporary basis and recover the amount shortly.

113, Park Street By order of the Board 10th Floor, Kolkata-700 016 P.HIMATSINGKA Directors Dated: Friday, the 30th May, 2014 AVISHEK HIMATSINGKA

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Mar 31, 2011

The Directors have pleasure in placing before you the 29th Annual Report of the Company together with the audited statement of account of the year ended March 31, 2011

FINANCIAL RESULTS:

Profit during the year Rs. 52,01,288

Add : Previous year balance Rs. 1,50,80,665

Rs. 2,02,81,951

Less : Provision for taxation Rs. 16,75,500

Deferred Tax Rs. 39,937

Proposed Dividend Rs. 4,50,000

Dividend Tax Rs. 77,888

Rs. 22,73,305

Balance transferred to Balance Sheet Rs. 180,80,645

DIVIDEND:

Your Directors are pleased to recommend a dividend @ Re. 1 per fully paid up equity share of Rs. 10/- each for the year ended 31st March, 2011

DIRECTORS:

Sri Avishek Himatsingka, Director of the Company retire by rotation but being eligible offers himself for re-appointment.

Directors Responsibility statement pursuant to section 217 (2AA) of the Companies Act, 1956.

The Directors hereby confirm.

I) That in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departure.

II) That the directors had selected such accounting policies and applied them consistently and made judgements 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 or loss of the Company for that period.

III) That 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) That the directors had prepared the annual accounts on a going concern basis.

AUDITORS:

M/s. Salarpuria & Partners, Chartered Accountants of 7, Chittaranjan Avenue, Kolkata-72, the auditors of the Company and M/s M. B. Agarwal & Co. chartered Accountants of 204, Mhatre Pen Building Senapati Bapat Marg, Mumbai-28 branch auditors M/s Kataruka & Co, Chartered Accountants of P-44, Rabindra Sarani, Kolkata-1, internal Auditors retire and are eligible and agreeable for reappointment.

DEPOSITS:

The Company has never accepted any deposit and as such absolves itself of any compliance in this behalf.

PERSONNEL:

There was no employee receiving remuneration according to section 217(2A) of the Companies Act and hence no statement has been given.

Information under section 217(1)E of the Companies Act., 1956.

Your Company has no activity relating to conservation of energy and Technology absorption. The Company does not have any foreign exchange earnings.

By order of the Board

113, Park Street

10th Floor, Kolkata-700 016 P. HIMATSINGKA Directors Dated : Monday, the 30th May, 2011 AVISHEK HIMATSINGKA

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Mar 31, 2010

The Directors have pleasure in placing before you the 28th Annual Report of the Company together with the audited statement of account of the year ended March 31, 2010

FINANCIAL RESULTS:

Profit during the year Rs. 44,47,006

Add : Previous year balance Rs. 1,26,36,237

Defferred Tax Rs. 5,244

Rs. 1,70,88,487

Less : Provision for taxation Rs. 14,48,100

Proposed dividend Rs. 4,80,000

Dividend Tax Rs. 79,722

Rs. 20,07,822

Balance transferred to Balance Sheet Rs. 150,80,665

DIVIDEND:

Your Directors are pleased to recommend a dividend @ Re. 1 per fully paid up equity share of Rs. 10/- each for the year ended 31st March, 2010 DIRECTORS:

Sri Rajendra Pd. Jhanwar, Director of the Company retire by rotation but being eligible offers himself for re-appointment. Directors Responsibility statement pursuant to section 217 (2AA) of the Companies Act, 1956. The Directors hereby confirm.

I) That in the preparation of the annual accounts, the applicable accounting standards had been followed alongwith proper explanation relating to material departure.

II) That the directors had selected such accounting policies and applied them consistently and made judgements 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 or loss of the Company for that period.

III) That 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) That the directors had prepared the annual accounts on a going concern basis.

AUDITORS:

M/s. Salarpuria & Partners, Chartered Accountants of 7, Chittaranjan Avenue, Kolkata-72, the auditors of the Company and M/s M. B. Agarwal & Co. chartered Accountants of 204, Mhatre Pen Building Senapati Bapat Marg, Mumbai-28 branch auditors M/s Kataruka & Co, Chartered Accountants of P-44, Rabindra Sarani, Kolkata-1, internal Auditors retire and are eligible and agreeable for reappointment.

DEPOSITS:

The Company has never accepted any deposit and as such absolves itself of any compliance in this behalf.

PERSONNEL:

There was no employee receiving remuneration according to section 217(2A) of the Companies Act and hence no statement has been given.

Information under section 217(1)E of the Companies Act., 1956.

Your Company has no activity relating to conservation of energy and Technology absorption. The Company does not have any foreign exchange earnings.

By order of the Board

113, Park Street

10th Floor, Kolkata-700 016 P. HIMATSINGKA Directors Dated : Monday, the 31st May, 2010 AVISHEK HIMATSINGKA

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Mar 31, 2009

The Directors have pleasure in placing before you the 27th Annual Report of the Company together with the audited statement of account of the year ended March 31, 2009

FINANCIAL RESULTS:

Profit during the year Rs. 42,02,348

Add Previous year balance Rs. 1,06,05,196

Defferred Tax Rs. 23,075

Depriciation written back Rs. 38,745

Rs. 1,48,69,364

Less Provision for taxation Rs. 15,59,000

Provision for FBT Rs. 1,12,551

Proposed dividend Rs. 4,80,000

Dividend Tax Rs. 81,576

Rs. 22,33,127

Balance transferred to Balance Sheet Rs. 126,36,237



DIVIDEND:

Your Directors are pleased to recommend a dividend @ Re. 1 per fully paid up equity share of Rs. 10/- each for the year ended 31st March, 2009

DIRECTORS:

Sri Ajit Kumar Bhuwalka, Director of the Company retire by rotation but being eligible offers himself for re-appointment. Directors Responsibility statement pursuant to section 217 (2AA) of the Companies Act, 1956. The Directors hereby confirm.

I) That in the preparation of the annual accounts, the applicable accounting standards had been followed alongwith proper explanation relating to material departure.

II) That the directors had selected such accounting policies and applied them consistently and made judgements 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 or loss of the Company for that period.

III) That 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) That the directors had prepared the annual accounts on a going concern basis.

AUDITORS:

M/s. Salarpuria & Partners, Chartered Accountants of 7, Chittaranjan Avenue, Kolkata-72, the auditors of the Company and M/s M. B. Agarwal & Co. chartered Accountants of 204, Mhatre Pen Building Senapati Bapat Marg, Mumbai-28 branch auditors M/s Kataruka & Co, Chartered Accountants of P-44, Rabindra Sarani, Kolkata-1, internal Auditors retire and are eligible and agreeable for reappointment

DEPOSITS:

The Company has never accepted any deposit and as such absolves itself of any compliance in this behalf.

PERSONNEL:

There was no employee receiving remuneration according to section 217(2A) of the Companies Act and hence no statement has been given.

Information under section 217(1)E of the Companies Act, 1956. Your Company has no activity relating to conservation of energy and Technology absorption. The Company does not have any foreign exchange earnings.



113. Park Street By order of the Board

10th Floor, Kolkata-700 016 P. HIMATSINGKA Directors

Dated : Tuesday, the 30th June, 2009 AVISHEK HIMATSINGKA