Mar 31, 2015
Dear Members,
The Directors of your Company have pleasure in presenting the Twenty
Sixth Annual Report together with the Audited Financial Statements for
the year ended on 31s1 March, 2015. The summarized financial
performance for the year ended 3181 March, 2015 is as follows:
FINANCIAL PERFORMANCE (Rs. in Lacs)
Particulars Current Year Previous Year
Net Sales / Income from operations
(including Excise) 4171.36 3330.90
Other Income 10.82 3.34
Total Expenditure 4035.81 3234.51
Gross Profit before Interest,
Depreciation and Taxation 146.37 99.73
Interest 39.12 24.33
Gross Profit after Interest but
before Depreciation and Taxation 107.25 75.40
Provision for Depreciation 45.63 39.28
Profit / (Loss) before taxation 61.62 36.12
Provision for Taxation (net of MAT credit) 20.72 13.53
Net Profit 40.90 22.59
OPERATIONS AND STATE OF COMPANY AFFAIRS
Your Company has seen an overall growth in turnover from its business
during the year. During the Current Financial Year the Company has
achieved a turnover of Rs. 4171.36 Lacs as against the turnover of Rs.
3330.90 Lacs in the Previous Year. The net profit of the Company has
also increased to Rs. 40.90 Lacs in the current financial year as
against Rs. 22.59 Lacs in the Previous Year.
Your Company is working hard to improve its operations by increasing
penetration of its products in retail outlets of all major Cities.
DIVIDEND AND RESERVES
Your Directors do not recommend any dividend for the financial year
ended 31" March, 2015 and no amount has been transferred to General
Reserve.
FIXED DEPOSITS
The Company has neither invited nor accepted any fixed deposits from
the public or its employees under Section 73 of Companies Act, 2013 and
rules made thereunder, during the year under review.
DETAILS OF MATERIAL CHANGES AND COMMITMENTS
There is no significant and material order, after 31st March, 2015,
passed by any of regulators, court of law or tribunals impacting the
going concern status of the company or impacting its operations in
future.
ADEQUACY OF INTERNAL FINANCIAL CONTROLS
The Company has an Internal Control System, commensurate with the size,
scale and complexity of its operation. The details have been included
in the Management Discussion and Analysis which is the part of this
Board's Report.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
As per provision of Section 152 of the Companies Act, 2013, Mr. Satish
Jain, Chairman and Managing Director, retire by rotation at the ensuing
Annual General Meeting and being eligible offer himself for
re-appointment. Mr. Shyam Sundar Lai Gupta, Mr. Govind Prasad Agrawal,
Mr. Sudarshan Lai Baluja and Ms. Neha Gupta were appointed as
Independent Directors of the Company at last AGM held on 30lh
September, 2014, to hold office forfive consecutive years for a term
upto 29th September, 2019.
Ms. Neha Gupta resigned from the Board of the Company w.e.f. 28lh
October, 2014 due to her other commitments. The Board of Directors then
appointed Ms. Neera Bhargava as an Additional Director w.e.f. 13lh
February, 2015. Her office of Director shall expire on the conclusion
of the forthcoming Annual General Meeting of the Company. She is
proposed to be appointed as Independent Director for five consecutive
years with effect from 1 S'" February, 2015 in accordance with Section
149 of the Companies Act, 2013.
The Company has received declaration from all independent directors of
the company confirming that they meet the criteria of independence as
prescribed under Section 149(6) of the Companies Act, 2013 and under
Clause 49 of the Listing Agreement.
The Board, at their meeting held on 28lh May, 2014, noted that Mr.
Satish Jain, Chairman and Managing Director, Mr. Raj Kumar Sehgal, GM
(Legal) and Company Secretary and Mr. Kamlesh Jain, Chief Financial
Officer are the Key Managerial Personnel (KMP) under section 203 of the
Companies Act, 2013.
MEETINGS OF THE BOARD
During the year under review, four (4) Board Meetings were held on 28"'
May, 2014, 11th August, 2014, 14th November, 2014 and 13lh February,
2015 and four (4) Audit Committee meetings were held on the same date.
In accordance with the requirement from time to time other Committee
meetings were held and one separate meeting of Independent Directors
was also held. The attendance of the Directors who attended the Board
Meetings and Committees thereof have been included in the Corporate
Governance Report.
BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the listing agreement, the Board has carried out an annual performance
evaluation of its own performance and of the directors individually as
well as the evaluation of the working of its Audit, Nomination &
Remuneration and other Committees. The performance evaluation of the
Chairman and the Non Independent Directors was carried out by the
Independent Directors and appreciated the timely information flow which
enables the Board & Committees of the Board to have full understanding
of the rules & regulations to be abided under the Companies Act and the
Corporate Governance of listing agreement. The performance evaluation
of the Independent Directors was carried out by Board based on the
Directors participations in the discussion and various deliberations
and the Board expressed its satisfaction on the same.
VIGIL MECHANISM/WHISTLE BLOWER POLICY&NOMINATION AND REMUNERATION
POLICY
The Board has formulated a vigil mechanism for the directors and
employees to report genuine concerns and such mechanism shall provide
adequate safeguards against victimization of persons who use such
mechanism and made provision for direct access to the chairperson of
the Audit Committee in appropriate or exceptional cases. The Board has
also on the recommendation of the Nomination and Remuneration Committee
framed a policy for selection and appointment of Directors, Key
Managerial Personnel, Senior Management and their remuneration. The
details of these policies are stated in the Corporate Governance
Report.
CODE OF CONDUCT
The Code of conduct laid down by the Board is in operation in the
Company. All Board members and senior management personnel have
affirmed the compliance with the code. The declaration to this effect
is enclosed to the Corporate Governance Report.
DIRECTORS'RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(3)(c) of the Companies
Act, 2013, to the best of knowledge and belief and according to the
information and explanations obtained, your Directors make the
following statements that:
a. in the preparation of the annual accounts for the year ended 31st
March, 2015, the applicable accounting standards had been followed
along with proper explanation relating to material departures, if any;
b. 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 as at 31st March, 2015 and of the profit and loss of the
company foryear ended on that date;
c. the Directors have 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;
d. the Directors have prepared the annual accounts on a going concern
basis;
e. the Directors have laid down internal financial controls to be
followed by the company and that such internal financial controls are
adequate and were operating effectively; and
f. the Directors have devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively.
PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS
During the year under review, company has not given any Loans,
Guarantees or made any Investments covered underthe provisions of
Section 186 of the Companies Act, 2013.
All transactions entered with related parties for the year under review
were in the ordinary course of business and are placed before the Audit
Committee on regular basis. Omnibus approval was obtained for
transactions which are of repetitive nature. All the transactions
entered with related parties do not attract the provisions of Section
188 of the Companies Act, 2013 except one related party transaction
which is covered under sub-section (1) of section 188 of the Companies
Act, 2013, the particulars of said contract or arrangement with related
party in the Form AOC-2 is annexed as Annexure 'A'.
RISK MANAGEMENT
The company has a risk management committee comprising of senior
executives, which has the responsibility to identify the risk and
suggest the management the mitigation plan for the identified risks.
The detail of risks and other concerns are included in the Management
Discussion and Analysis which is the part of this Board's Report.
CORPORATE SOCIAL RESPONSIBILITY
Pursuant to the provisions of Section 135 of the Companies Act, 2013,
Corporate Social Responsibility Policy is not applicable on your
Company. Accordingly the CSR Committee was not constituted.
EXTRACT OF THE ANNUAL RETURN
In terms of provision of Section 134 (3) (a) of the Companies Act,
2013, the extract of the Annual Return as provided under sub-section
(3) of the Section 92 in form MGT-9, forms part of this Board's Report
and is annexed as Annexure 'B'.
STATUTORY AUDIT
M/s. B. K. Shroff & Co., Chartered Accountants, (Firm Registration No.
302166E) Statutory Auditors of the Company, were reappointed as
Auditors of the Company at 25th Annual General Meeting (AGM) held on
SO81 September, 2014, to hold office from the conclusion of 25th AGM
until the conclusion of the 26th AGM. The Company has received an
eligibility letter under Section 141 of the Companies Act, 2013 and
rules made thereunder that they are not disqualified.
The Board of Directors based on recommendation of Audit Committee,
recommends the appointment of M/s B. K. Shroff & Co. as Statutory
Auditors from the conclusion of ensuing Annual General Meeting till the
conclusion of nextAnnual General Meeting in terms of Section 139 of the
Companies Act, 2013 and the rules made thereunder.
COST AUDIT
Pursuant to the provisions of Section 148 of the Companies Act, 2013
and rules framed thereunder regarding appointment of Cost Auditor and
maintaining the Cost Audit record, the same are not applicable on your
Company.
SECRETARIAL AUDIT
Pursuant to the provisions of Section 204 of the Companies Act 2013 and
The Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, the Board of Directors has appointed Ms. Ashu Gupta,
Proprietor of M/s Ashu Gupta & Co., Practising Company Secretaries as
Secretarial Auditor of the Company to conduct the Secretarial Audit for
the Financial Year ended 31s1 March, 2015. The Secretarial Audit Report
is annexed as Annexure 'C'.
AUDITOR'S REPORT
The Auditors Report on the Audited Financial Statement of the Company
for the year ended 31s1 March, 2015 do not contain any qualification,
reservation or adverse remark so need not require any explanation or
comment.
The Secretarial Audit Report for the Financial Year ended on 31 "March,
2015 issued by Secretarial Auditor do not contain any qualification,
reservation or adverse remark so need not require any explanation or
comment.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANG
EARNINGS AND OUTGO
A statement giving details of conservation of energy, technology
absorption, foreign exchange earnings and out-go, in accordance with
the requirement of the Section 134(3)(m) of the Companies Act, 2013
read with Rule 8 of the Companies (Account) Rules, 2014 forms part of
this Board's Report and is annexed as Annexure-'D'.
REMUNERATION AND PARTICULARS OF EMPLOYEES
The information as per Section 197 read with Rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 will
be provided upon request. However, as per the provisions of Section 136
of the Act, the Report and Accounts are being sent to all the members
excluding the information on particulars of employees which is
available for inspection by the members at the Registered Office of the
Company during business hours on working days of the Company up to the
date of the ensuing Annual General Meeting. Any member interested in
obtaining a copy thereof, may write to the Company Secretary in this
regard.
CORPORATE GOVERNANCE
Your Company is in compliance with the requirements and disclosures
with respect to the Code of Corporate Governance as required under
Clause 49 of the Listing Agreement entered into with the Bombay Stock
Exchange. As a listed company, necessary measures are taken to comply
with the Listing Agreement. A report on Corporate Governance as stated
above, along with a certificate of compliance from the Statutory
Auditors M/s B.K. Shroff & Co., Chartered Accountants, forms part of
this Board's Report and is annexed as Annexure-'E'.
ACKNOWLEDGEMENT
Your Directors would like to gratefully acknowledge and place on record
their sincere appreciation for the cooperation and assistance received
from its stakeholders, valued customers, suppliers, distributors,
banks, government authorities and stock exchange. The Directors also
wish to place on record their sincere appreciation of the devoted and
dedicated services rendered by all Executives and Staff Members of the
Company.
By order of the Board
For RAMA VISION LIMITED
Place : New Delhi Sd/-
Dated: 12.08.2015
SATISH JAIN
(CHAIRMAN OF THE COMPANY)
DIN: 00052215
Mar 31, 2014
Dear Shareholder,
The Directors of your Company have pleasure in presenting the Twenty
Fifth Annual Report together with the Audited Statement of Accounts and
the Auditors'' Report of your Company for the Financial Year ended on
31st March, 2014. The summarized financial performance for the year
ended 31st March, 2014 is as follows:
FINANCIAL PERFORMANCE (Rs. in Lacs)
Particulars Current Year Previous Year
Net Sales / Income from operations
(including Excise) 3330.90 2951.47
Other Income 3.34 14.69
Total Expenditure 3234.51 2877.77
Gross Profit before Interest, Depreciation
and Taxation 99.73 88.39
Interest 24.33 8.26
Gross Profit after Interest but before
Depreciation and Taxation 75.40 80.13
Provision for Depreciation 39.28 38.45
Profit / (Loss) before taxation 36.12 41.68
Provision for Taxation (net of MAT credit) 13.53 37.72
Net Profit 22.59 3.96
OPERATIONS
Your Company has seen an overall growth in turnover from its business
during the year During the Current Financial Year the Company has
achieved a turnover of Rs. 3330.90 Lacs as against the turnover of Rs.
2951.47 Lacs in the Previous Year. The net profit of the Company has
also increased from last year. It is Rs. 22.59 Lacs in the current
year as against Rs. 3.96 Lacs in the Previous Year.
Your Company is working hard to improve its operations by increasing
penetration of its products in retail outlets of all major Cities.
DIVIDEND
Your Directors have not recommended any dividend for the year under
review.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposits during the year under
review.
STOCK EXCHANGE & LISTING FEES
The Company''s Equity Shares at present are listed at Bombay Stock
Exchange Limited, Mumbai. It may be noted that there are no payments
outstanding to the Stock Exchange by way of listing fees, etc.
BOARD OF DIRECTORS
In accordance with the provisions of Section 152 of the Companies Act,
2013, Mr. Arhant Jain is liable to retire by rotation and being
eligible offer himself for re-appointment.
Ms. Neha Gupta was appointed as an Additional Director on the Board of
the Company in the category of Independent Director w.e.f. 11.08.2014.
Her office of Director shall expire on the conclusion of the
forthcoming Annual General Meeting of the Company. She is proposed to
be appointed as Independent Director for five consecutive years from
30th September, 2014 to 29th September, 2019 in accordance with Section
149 of the Companies Act, 2013.
Mr. Sudarshan Lal Baluja, Mr. Govind Prasad Agrawal and Mr. Shyam
Sundar Lal Gupta, Non-Executive Directors of the Company and
Independent Directors as per Clause 49 of the Listing Agreement. They
are proposed to be appointed as Independent Directors for five
consecutive years from 30th September, 2014 to 29th September, 2019 in
accordance with Section 149 of the Companies Act, 2013.
Notices have been received from members proposing the aforesaid four
Directors as candidates for the office of Director of the Company. In
the opinion of the Board, aforesaid persons fulfil the conditions
specified in the Companies Act, 2013 and rules made thereunder for
their appointment as Independent Directors of the Company and are
independent of the management. The Board considers that their continued
association would be of immense benefit to the Company. Accordingly,
the Board recommends appointment of Mr. Sudarshan Lal Baluja, Mr.
Govind Prasad Agrawal, Mr. Shyam Sundar Lal Gupta and Ms. Neha Gupta as
Independent Directors, not liable to retire by rotation, for the
approval by the shareholders of the Company.
AUDITORS
M/s B.K. Shroff & Co., Chartered Accountants, having its office at
3/7-B, Asaf Ali Road, 1st Floor, Flat No. 4, New Delhi 110 002, the
Statutory Auditors of the Company will retire at the ensuing Annual
General meeting of the Company. The Company has received a certificate
from the Statutory auditors to the effect that their re- appointment,
if made, would be eligible under Section 141 of the Companies Act,
2013.
Your Directors recommends their re-appointment as Statutory Auditors of
the Company from the conclusion of this Annual General Meeting until
the conclusion of 26th Annual General Meeting.
AUDITORS'' REPORT
The observations of the auditors made in their report are
self-explanatory and therefore, in the opinion of your Directors, do
not call for further comments.
PARTICULARS OF EMPLOYEES
There was no employee during the year under review whose particulars
are required to be given pursuant to Section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules,
1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Information in accordance with Section 217 (1)(e) of the Companies Act,
1956 read with the Companies (Disclosure of Particulars in the report
of Board of Directors) Rules, 1988 is given in Annexure ''A forming part
of this report. The particulars as required under the provisions of
Section 217(1)(e) of the Companies Act, 1956 in respect of conservation
of energy and technology absorption have not been furnished considering
the nature of activities undertaken by the company during the year
under review.
REPORT ON CORPORATE GOVERNANCE
A report on Corporate Governance as stipulated in Clause 49 of the
Listing Agreement is given in Annexure ''B'' which forms a part of the
Director''s Report.
DISCLOSURES UNDER SECTION 217(1)(D) OF THE COMPANIES ACT, 1956
Except as disclosed elsewhere in the report, there have been no
material changes and commitments which can affect the financial
position of the Company occurred between the end of financial year of
the Company and date of this report.
DIRECTORS RESPONSIBILITY STATEMENT
In terms of section 217 (2AA) of the Companies Act, 1956 the Directors
hereby confirms that:
(i) In the preparation of Annual Accounts, applicable Accounting
Standards have been followed alongwith proper explanation related to
material departures;
(ii) The Directors have selected 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) The Directors have 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) The Directors have prepared the annual accounts on a going concern
basis.
ACKNOWLEDGEMENT
The Board placed on record its appreciation for the valuable support
and cooperation of the principals, distributors, dealers, customers who
have shown their interest and confidence in our products. The Board
also placed on record its appreciation for valuable support and
co-operation of suppliers, shareholders, banks, management team and the
entire work force for their commitment and look forward to their
continued support in future.
Place : New Delhi By order of the Board
Dated : 11.08.2014 For RAMA VISION LIMITED
Sd/-
SATISH JAIN
(CHAIRMAN OF THE COMPANY)
DIN: 00052215
Mar 31, 2013
Dear Shareholder,
The Directors of your Company have pleasure in presenting their Twenty
Fourth Annual Report together with the Audited Statements of Accounts
and the Auditors'' Report of your Company for the Financial Year ended
on 31st March, 2013. The summarized financial performance for the year
ended 31st March, 2013 is as follows:
FINANCIAL PERFORMANCE (Rs. in Lacs)
Current Year Previous Year
Net Sales/Income from operations 2951.47 2150.17
(including Excise)
Other Income 14.69 30.03
Total Expenditure 2877.77 2097.91
Gross Profit before Interest, 88.39 82.29
Depreciation and Taxation
Interest 8.26 7.28
Gross Profit after Interest 80.13 75.01
but before Depreciation and Taxation
Provision for Depreciation 38.45 36.93
Profit / (Loss) before taxation 41.68 38.08
Provision for Taxation (net of MAT credit) 37.72 33.94
Net Profit 3.96 4.14
OPERATIONS
Your Company has seen an overall growth in turnover from its business
during the year During the Current Financial Year the Company has
achieved a turnover of Rs. 2951.47 Lacs as against the turnover of Rs.
2150.17 Lacs in the Previous Year. The net profit of the Company isRs.
3.95 Lacs as againstRs. 4.14 Lacs in the Previous Year. The fall in
profit is due to cut throat competition in FMCG sector, higher
inflation, depreciation of rupee, resulting lower profit margins.
Your Company is working hard to improve its operations by increasing
penetration of its products in retail outlets of all major Cities.
DIVIDEND
Your Directors have not recommended any dividend for the year under
review.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposits during the year under
review.
STOCK EXCHANGE & LISTING FEES
The Company''s Equity Shares at present are listed at Bombay Stock
Exchange Limited, Mumbai. It may be noted that there are no payments
outstanding to the Stock Exchange by way of listing fees, etc.
BOARD OF DIRECTORS
Mr. Satish Jain and Mr. S.S.L. Gupta, Directors are liable to retire by
rotation at the forthcoming Annual General Meeting and being eligible,
offers themselves for re-appointment.
Your Directors recommends their re-appointment as Directors of the
Company.
During the period under review the Board of the UP Hill Electronics
Corporation Limited (HILTRON) has nominated Mr. Ravinath Mayawaram
Viswanatha Raman on the Board of Directors of the Company as their
Nominee Director in place of Mr. V K Dhaundiyal w.e.f. 30.05.2013. The
Board of Directors welcomed the appointment of Mr. Ravinath Maywaram
Viswanatha Raman and place on record their sincere appreciation for
valuable guidance and co-operation by Mr. V K Dhaundiyal during the
tenure of his directorship.
Recently M/s UP Hill Electronics Corporation Limited (HILTRON), a
co-promoter of your Company has sold its equity participation in your
Company to the existing promoters of the Company. Consequently, as per
the terms of agreement executed with the Company, they have withdrawn
their two Nominee Directors from the Board namely Mr. Bharat Sinha and
Mr. Ravinath Mayawaram Viswanatha Raman. The Board expressed their
sincere thanks and appreciation for the assistance and guidance
provided by Mr. Bharat Sinha and Mr. Ravinath Mayawaram Viswanatha
Raman during the tenure of their Directorship.
Further Mr. Satish Jain appointed as the Chairman of the Company w.e.f
12th August, 2013 and designated as Chairman and Managing Director
subject to the approval of alteration of Articles of Association by the
Share holders in the forthcoming Annual General Meeting of the Company.
AUDITORS
M/s B.K. Shroff & Co., Chartered Accountants, having its office at
3/7-B, Asaf Ali Road, 1st Floor, Flat No. 4, New Delhi-110 002, the
Statutory Auditors of the Company will retire at the ensuing Annual
General Meeting of the Company and being eligible offer themselves for
re-appointment.
Your Directors recommends their re-appointment as Statutory Auditors of
the Company.
AUDITORS'' REPORT
The observations of the auditors made in their report are
self-explanatory and therefore, in the opinion of the Directors, do not
call for further comments.
PARTICULARS OF EMPLOYEES
There was no employee during the year under review whose particulars
are required to be given pursuant to Section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules,
1975.
MANAGEMENT DISCUSSION AND ANALYSIS
Overview and Industry Structure and Developments:-
The Indian FMCG sector is the largest sector in the economy.
Penetration level as well as per capita consumption in most product
categories like Mother & Baby care products and ready to eat food etc
in India is growing day by day and there is a good Market Potential.
Accordingly, the Company expects a good growth in its products of
Mother & Baby care and food products.
OPPORTUNITIES AND THREATS
Opportunities
Your Company has to go through different stages from conceptualization
of the product to its launch in the market. It doesn''t end there. The
Company will always like to expand its business by entering into new
products, increasing the distribution footprint, increasing the sellout
by effective marketing techniques/activities in the fast changing
scenario.
Threats
High Inflation and economic instability followed by devaluation of
Indian rupee are the major concern of our business.
Product wise performance
The Company is presently dealing mainly in two products lines. One is
Mother & Baby care products and the second is food products. In both
the products Lines Company is striving to increase its turnover.
Outlook
There are abundant opportunities available in the Indian market where
your Company through its distribution network can deliver its products
in the market. Your Company is continuously finding more and more
retail outlets by entering into various cities of every state, where
the products of your Company can penetrate. This will ultimately
increase the turnover / operations of the Company.
Risks and Concerns
The Risk Management Committee comprising of Board Members and Senior
Executives periodically reviews risks & concerns and required actions
are taken on their suggestions to mitigate the same.
Internal Control Systems and their adequacy
The Company maintains a system of Internal Control including suitable
monitoring procedures. The Internal Control System is supplemented by
an exhaustive program of internal audits and said audits are then
reviewed by Audit Committee from time to time.
Development in HR
Your company has laid emphasis on improving the skills of its human
resources towards achieving better performance & improving quality.
Your Company has always emphasized on the principle that Human
Resources are the best Assets for Organization. Thus we keep on
investing in them through modern trainings and seminars.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Information in accordance with Section 217 (1)(e) of the Companies Act,
1956 read with the Companies (Disclosure of Particulars in the report
of Board of Directors) Rules, 1988 is given in Annexure ''A forming part
of this report. The particulars as required under the provisions of
Section 217(1)(e) of the Companies Act, 1956 in respect of conservation
of energy and technology absorption have not been furnished considering
the nature of activities undertaken by the company during the year
under review.
REPORT ON CORPORATE GOVERNANCE
A report on Corporate Governance as stipulated in Clause 49 of the
Listing Agreement is given in Annexure ''B'' which forms a part of the
Director''s Report.
DISCLOSURES UNDER SECTION 217 (1)(D) OF THE COMPANIES ACT, 1956
Except as disclosed elsewhere in our report, there have been no
material changes and commitments which can affect the financial
position of the Company, occurred between the end of the financial year
of the company and date of this report.
DIRECTORS RESPONSIBILITY STATEMENT
In terms of section 217 (2AA) of the Companies Act, 1956 the Directors
hereby confirms that :
(i) In the preparation of Annual Accounts, applicable Accounting
Standards have been followed alongwith proper explanation related to
material departures;
(ii) The Directors have selected 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) The Directors have 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) The Directors have prepared the annual accounts on a going concern
basis.
ACKNOWLEDGEMENT
The Board placed on record its appreciation for the valuable support
and cooperation of the principals, distributors, dealers, customers who
have shown their interest and confidence in our products. The Board
also placed on record its appreciation for valuable support and
co-operation of suppliers, shareholders, banks, management team and the
entire work force for their commitment and look forward to their
continued support in future.
By order of the Board
For RAMA VISION LIMITED
Sd/-
Place : New Delhi
Dated : 12.08.2013 CHAIRMAN OF THE MEETING
Mar 31, 2012
The Directors of your Company have pleasure in presenting their Twenty
Third Annual Report together with the Audited Statements of Accounts of
the Company for the financial year ended on 31st March, 2012.
FINANCIAL PERFORMANCE (Rs. in Lacs)
Current Year Previous Year
Net Sales/Income from operations 2150.17 1742.12
(including Excise)
Other Income 30.03 17.04
Total Expenditure 2097.91 1604.03
Gross Profit before Interest, 82.29 89.13
Depreciation and Taxation
Interest 7.28 2.38
Gross Profit after Interest 75.01 86.75
but before Depreciation and Taxation
Provision for Depreciation 36.93 32.92
Profit before taxation 38.08 53.83
Provision for Taxation (net of MAT credit) 33.94 18.89
Net Profit 4.14 34.94
OPERATIONS
Your Company has seen an overall growth in turnover from its business
during the year. During the current financial year the Company has
achieved a turnover of Rs.2150.17 Lacs as against the turnoever of Rs.
1742.12 lacs in the previous year. The net profit of the company was Rs.
4.14 lacs as against Rs. 34.94 Lacs in the previous year. The fall in
profit was due to cut throat competition in FMCG Sector, higher
inflation, depreciation of rupee, resulting lower profit margins.
Your Company is working hard to improve its operations by increasing
penetrating of its products in retail outlets of all major Cities.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposits during the year under
review.
STOCK EXCHANGE & LISTING FEES
The Company's Equity Shares at present are listed at Bombay Stock
Exchange Limited, Mumbai. It may be noted that there are no payments
outstanding to the Stock Exchange by way of listing fees, etc.
BOARD OF DIRECTORS
Sh. Arhant Jain and Sh. S.L. Baluja, Directors are to retire by
rotation at the forthcoming Annual General Meeting and being eligible,
offers themselves for re-appointment.
AUDITORS
M/s B.K. Shroff & Co., Chartered Accountants, the Statutory Auditors of
the Company retire at the ensuing Annual General Meeting and are
eligible for re-appointment.
PARTICULARS OF EMPLOYEES
There was no employee during the year under review whose particulars
are required to be given pursuant to Section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules,
1975.
CONSERVATION OF ENERGY, TECHNOLOGYABSORPTION, FOREIGN EXCHANGE EARNINGS
AND OUTGO
Information in accordance with Section 217 (1)(b) of the Companies Act,
1956 read with the Companies (Disclosure of Particulars in the report
of Board of Directors) Rules, 1988 is given in Annexure 'A' forming
part of this report. Form 'A' requiring disclosure of conservation of
energy is not applicable in the case of your company.
REPORT ON CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreement, a report on the
Corporate Governance is given in Annexure 'B' which forms part of this
report.
DIRECTORS RESPONSIBILITY STATEMENT
In terms of section 217 (2AA) of the Companies Act, 1956 the Directors
hereby confirms that:
i. in the preparation of annual accounts, applicable accounting
standards have been followed alongwith proper explanation related to
material departures;
ii. the Directors have selected 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. the Directors have 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. The Directors have prepared the annual accounts on a going concern
basis.
ACKNOWLEDGEMENT
The Board placed on record its appreciation for the valuable support
and cooperation of the principals, distributors, dealers, customers who
have shown their interest and confidence in our products. The Board
also placed on record its appreciation for valuable support and
co-operation of suppliers, shareholders, bank, management team and the
entire work force for their commitment and look forward to their
continued support in future.
For and on behalf of the Board of Directors
Place : New Delhi
Dated : 14th August, 2012 CHAIRMAN OF THE MEETING
Mar 31, 2011
Dear Shareholder,
The Directors of your Company have pleasure in presenting their Twenty
Second Annual Report together with the Audited Statements of Accounts
of the Company for the financial year ended on 31st March, 2011.
FINANCIAL PERFORMANCE
(Rs. in Lacs)
Current Year Previous Year
Net Sales/Income from operations 1742.12 1221.17
(including Excise)
Other Income 17.04 78.69
Total Expenditure 1604.03 1191.02
Gross Profit/(Loss) before
Interest, 89.13 108.84
Depreciation and Taxation
Interest 2.38 3.16
Gross Profit/(Loss) after Interest 86.75 105.68
but before Depreciation
and Taxation
Provision for Depreciation 32.92 29.71
Profit/Loss before taxation 53.83 75.97
Provision for Taxation (net of
MAT credit) 18.89 25.33
Net Profit / (Loss) 34.94 50.64
OPERATIONS
Your Company has seen an overall growth from its trading division
during the year. During the current financial year the Company has
achieved a turnover of Rs. 1742.12 Lacs as against the turnover of Rs.
1221.17 lacs in the previous year. The turnover of the company has
increased showing change in the consumer buying behavior and in Retail
Industry in India as Multistoried Malls and huge Shopping Centers,
Complexes have come up in large numbers in the country. The net profit
of the Company was Rs.34.94 lacs as against Rs. 50.64 Lacs in the
previous year. The reason for fall in our profits has been the cut
throat competition in FMCG Sector, Particularly in Mother Care and Baby
care products consequently margins were highly restricted.
Your Company is strengthening its trading activities in its food
division by way of adding other products in its trading activities and
the Company is hopeful to further increase in its turnover. With these
steps taken, the turnover as well as profitability of your Company is
expected to increase in the coming years.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposits during the year under
review.
STOCK EXCHANGE & LISTING FEES
The CompanyÃs Equity Shares at present are listed at Bombay Stock
Exchange Limited, Mumbai.. It may be noted that there are no payments
outstanding to the Stock Exchange by way of listing fees, etc.
BOARD OF DIRECTORS
Sh. S.S.L.Gupta and Sh. GPAgarwal, Directors are to retire by rotation
at the forthcoming Annual General Meeting and being eligible, offers
themselves for re-appointment.UP Hill Electronics Corporatiom Limited
(HILTRON) has nominated Shri Bharat Sinha as their Nominee Director on
the Board of your Company in place of Shri Vishal Singh w.e.f.
11.02.2011. The Board of Directors welcome the appointment of Shri
Bharat Sinha and place on record their sincere appreciation for
valuable guidance provided by Shri Vishal Singh during the tenure of
his directorship.
AUDITORS
M/s B.K. Shroff & Co., Chartered Accountants, the Statutory Auditors of
the Company retire at the ensuing Annual General Meeting and are
eligible for re-appointment
PARTICULARS OF EMPLOYEES
There was no employee during the year under review whose particulars
are required to be given pursuant to Section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules,
1975.
MANAGEMENT DISCUSSION AND ANALYSIS
Overview and Industry Structure and Developments:-
The Indian FMCG sector is the largest sector in the economy.
Penetration level as well as per capita consumption in most product
categories like mother care, baby care products and ready to eat food
etc in India is growing day by day and there is a good Market
Potential. Indian population, particularly the middle class and the
rural segments, gives an opportunity to producers of branded products
to convert consumers to branded products from unbranded products.
Within FMCG, our products like Kindoh Biscuits and Real Thai foods are
already in the positive. Our biggest drag is from the latest in the
FMCG business, the personal care. International competitors are now
going for volume and there is intense competition and price war.
OPPORTUNITIES AND THREATS
Opportunities
Your Company has to go through different Stages from conceptualization
of the product to its launch in the market. It doesn't end there. The
Company will always like to expand its business by entering in new
products, increasing the distribution footprint, increasing the sellout
by effective marketing techniques/activities in the fast changing
scenario.
Threats
The existing tax structure and its high overall incidence, however,
have been hampering the growth of the Trading Companies. In this era of
liberalization of Indian Economy, new and strong competitors with the
product range similar to those of the Company can enter into the market
with different brands which may put an adverse impact on the sales of
the Company.
Segment wise or Product wise performance
The Company's core competence area continues to be trading in FMCG in
which the Company is doing well. Strong Brand equity, Market
Leadership and offering consumers a broad portfolio of products are the
strategies been adopted by your company for product and market
development.
Outlook
There are abundant opportunities available in the Indian market where
your company through its distributor network can deliver its product in
the market. However, what we will bring to the table that others are
not able to do is bringing of food and beverages expertise to the
knowledge of the Indian consumer to win his loyality for our brands.
Here, there is a lot of synergy that we can bring to the table.
Risks and concerns
Due to appreciation of US dollar against Indian Rupees, increase in the
Customs Duty by the Government of India and new competitors with the
product range similar those of the Company may affect the operations of
the Company.
Internal Control Systems and their adequacy
The company maintains a system of internal control including suitable
monitoring procedures. The internal control system is supplemented by
an exhaustive program of internal audits and said audits are then
reviewed by Audit Committee from time to time.
Development in HR
Your company has laid emphasis on improving the skills of its human
resources towards achieving better performance & improving quality.
Your Company has always emphasized on the principal that Human
Resources are the best Assets for any Organization. Thus we keep on
investing on them through modern trainings and seminars.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Information in accordance with Section 217 (1)(b) of the Companies Act,
1956 read with the Companies (Disclosure of Particulars in the report
of Board of Directors) Rules, 1988 is given in Annexure 'A forming part
of this report. Form 'A requiring disclosure of conservation of energy
is not applicable in the case of your company.
REPORT ON CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreement, a report on the
Corporate Governance is given in Annexure 'B' which forms part of this
report.
DIRECTORS RESPONSIBILITY STATEMENT
In terms of Section 217 (2AA) of the Companies Act, 1956 the Directors
hereby confirms that:
i. in the preparation of annual accounts, applicable accounting
standards have been followed along with proper explanation related to
material departures;
ii. the Directors have 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. the Directors have 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 The Directors had prepared the annual accounts on a going concern
basis.
ACKNOWLEDGEMENT
The Board placed on record its appreciation for the valuable support
and cooperation of the principals, distributors, dealers, customers who
have shown their interest and confidence in our products. The Board
also placed on record its appreciation for valuable support and
co-operation of suppliers, shareholders, bank, management team and the
entire work force for their commitment and look forward to their
continued support in future.
For and on behalf of the Board of Directors
S.L. Baluja
CHAIRMAN OF THE MEETING
Place : New Delhi
Dated : 05th August,2011
Mar 31, 2010
The Directors of your Company have pleasure in presenting their Twenty
First Annual Report together with the Audited Statements of Accounts of
the Company for the financial year ended on 31st March, 2010.
FINANCIAL PERFORMANCE
(Rs. in Lacs)
Current Year Previous Year
Net Sales/Income from operations 1221.17 987.35
(including Excise)
Other Income 78.69 1666 77
Total Expenditure 1191.02 929 08
Gross Profit/(Loss) before
Interest, 108.84 1725 04
Depreciation and Taxation
Interest 3.16 8.91
Gross Profit/(Loss) after
Interest 105.68 1716.13
but before Depreciation and
Taxation
Provision for Depreciation 29.71 15 11
Profit/Loss before taxation 75.97 1701.02
Provision for Taxation (net
of MAT credit) 25.33 17 94
Net Profit/(Loss) 50.64 1683 08
OPERATIONS
Your Company has seen an overall growth from its trading division
during the year During the current financial year the Company has
achieved a turnover of Rs. 1221 17 Lacs as against the turnover of Rs
987 35 lacs in the previous year The net profit was Rs.50.64 lacs as
against Rs. 1683 08 Lacs in the previous year. The net profit of the
last year included profit of Rs. 1590.86 lacs realized on sale of its
entire land & Building including plant & machineries and other allied
assets of its unit of Black & white T V Picture Tubes at Kichha.
Your Company is strengthening its trading activities by way of adding
other products in its trading activities and the Company is hopeful to
further increase in its turnover. With these steps taken, the turnover
as well as profitability of your Company will increase in the coming
years.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposits during the year under
review
STOCK EXCHANGE & LISTING FEES
The Companys Equity Shares at present are listed at Bombay Stock
Exchange Limited, Mumbai It may be noted that there are no payments
outstanding to the Stock Exchange by way of listing fees, etc
DELISTING
The application for Voluntary delisting of equity shares of your
Company from Calcutta Stock Exchange has been admitted and accordingly,
the Companys Equity Shares have been delisted from Calcutta Stock
Exchange w.e.f. 16lh February, 2010.
BOARD OF DIRECTORS
Sh S L Baluja and Sh. Satish Jain, Directors are to retire by rotation
at the forthcoming Annual General Meeting and being eligible, offers
themselves for re-appointment .
AUDITORS
M/s B K Shroff & Co., Chartered Accountants, the Statutory Auditors of
the Company retire at the ensuing Annual General Meeting and are
eligible for re-appointment
PARTICULARS OF EMPLOYEES
There was no employee during the year under review whose particulars
are required to be given pursuant to Section 217(2A) of the Companies
Act. 1956 read with the Companies (Particulars of Employees) Rules 1975
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Information in accordance with Section 217 (1)(b) of the Companies Act,
1956 read with the Companies (Disclosure of Particulars in the report
of Board of Directors) Rules, 1988 is given in Annexure A forming
part of this report. Form A requiring disclosure of conservation of
energy is not applicable in the case of your company
REPORT ON CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreement, a report on the
Corporate Governance is given in Annexure Bwhich forms part of this
report.
DIRECTORS RESPONSIBILITY STATEMENT
In terms of section 217 (2AA) of the Companies Act. 1956 the Directors
hereby confirms that:
i in the preparation of annual accounts, applicable accounting
standards have been followed alongwith proper explanation related to
material departures,
ii. the Directors have 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. the Directors have 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. The Directors had prepared the annual accounts on a going concern
basis
ACKNOWLEDGEMENT
The Board placed on record its appreciation for the valuable support
and cooperation of the principals. distributors, dealers, customers
who have shown their interest and confidence in our products. The Board
also placed on record its appreciation for valuable support and
co-operation of suppliers, shareholders, bank, management team and the
entire work force for their commitment and look forward to their
continued support in future.
For and on behalf of the Board of Directors
Place : New Delhi S.L. Baluja
Dated : 09th August,2010 CHAIRMAN OF THE MEETING
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