Mar 31, 2014
THE MEMBERS
The Directors have pleasure in presenting the Annual Report together
with audited statement of accounts for the year ended 31 March, 2014
WORKING RESULTS
Particulars 31/03/2014 31/03/2013
Sales and other income (Net of duties) 3,64,16,459 4,59,25,900
Profit / (Loss) before Depreciation &
Taxation 21,15,177 1,01,500
Provision for Depreciation 38,185
Provision for Taxation for current /
prior years 6,65,125 31,364
Net Profit after Tax 14,11,867 70,136
Balance of Pro fit brought forward 49,12,207 48,42,071
Transfer to General Reserves 0 0
Proposed Dividend 0 0
Tax on Dividend 0 0
Balance of Profit carried forward to next
year 63,24,074 49,12,207
OPERATIONS
The Company continues to focus on the business machines and instruments
business. The top line have increased in a robust manner.
DIVIDEND
In order to conserve the resources, your directors do not propose any
dividends for the year.
DIRECTORS
In accordance with the Articles of Association of the Company, Kalpesh
Trivedi retire by rotation at the forthcoming Annual General Meeting
and are eligible for re- appointment.
Brief resumes of Directors seeking re-appointment, the nature of their
expertise in specific functional areas, names of companies in which
they hold directorships and the memberships of committees of the Board,
their shareholding etc. are attached with the Notice of the Annual
General Meeting of the Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to the Director''s Responsibility Statement, it
is hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
March 31st, 2014, the applicable accounting standards had been followed
along with proper explanations relating to material departures;
ii) That such accounting policies have been selected and consistently
applied, judgements and estimates made, 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 the profit of the Company
for the year under review.
iii) That proper and sufficient care had been taken for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
iv) That the accounts for the financial year have been prepared on a
''going concern'' basis.
FIXED DEPOSITS
Your company has neither invited nor accepted any fixed deposits from
the public during the financial year under review.
CORPORATE GOVERNANCE AND COMPLIANCE CERTIFICATE
Separate notes on Corporate Governance and Management Discussion and
Analysis report are set out as Annexure "A" and "B" respectively. A
certificate from the Auditor of the company certifying compliance
conditions of Corporate Governance as Stipulated under Clause 49 of the
Listing Agreement is attached to this report.
LISTING AGREEMENT REQUIREMENTS
The securities of your company are listed at Bombay and Ahmedabad
Exchanges.
BUY BACK OF SHARES
There was no buy back of shares during the year under review.
AUDITORS
The Auditors M/s. B . R . Shah & Associates , Chartered Accountants
will retire at the conclusion of the forth coming Annual General
Meeting and are eligible for re- appointment. The Company has received
letter from them to the effect that their appointment, if made, would
be within the prescribed limits under Section 224 (1-B) of the
Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
Information in accordance with Section 217(1) (e) of the Companies Act,
1956 read with Rule 2 of Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 are set out in Annexure ''B''
forming part of this report
ACKNOWLEDGMENT
Your Directors would like to express their sincere appreciation for the
continued support and co-operation received form Bankers, Foreign
Collaborators, Government Authorities and Shareholders. Your Directors
wish to place on record their deep sense of appreciation for the
devoted services of the Executives, Staff and Workers during the year
under review.
For and On behalf of the Board of Directors
For SAWACA BUSINESS
MACHINES LIMITED
Place : AHMEDABAD
Date : 27.09.2014 Sd/-
CHAIRMAN
Mar 31, 2012
TO THE MEMBERS
The Directors have pleasure in presenting the Annual Report together
with audited statement of accounts for the year ended 31st March, 2012
WORKING RESULTS
Particulars 31/03/2012 31/03/2011
Sales and other income
(Net of duties) 5701292 4960000
Profit / (Loss) before
Depreciation & Taxation 2049802 2410236
Provision for Depreciation 0 0
Provision for Taxation for
current / prior years 615000 780000
Net Profit after Tax 1434802 1630236
Balance of Profit brought
forward 3407269 1777033
Transfer to General Reserves 0 0
Proposed Dividend 0 0
Tax on Dividend 0 0
Balance of Profit carried forward
to next year 4842071 3407269
OPERATIONS
The Company continues to focus on the business machines and instruments
business. The top line has increased by 14.95% and the bottom line -
PAT have decreased by a nominal 11.99% for the year.
DIVIDEND
In order to conserve the resources, your directors do not propose any
dividends for the year.
DIRECTORS
In accordance with the Articles of Association of the Company, Kalpesh
Trivedi & Kishor Agaja retire by rotation at the forthcoming Annual
General Meeting and are eligible for re- appointment.
Brief resumes of Directors seeking re-appointment, the nature of their
expertise in specific functional areas, names of companies in which
they hold directorships and the memberships of committees of the Board,
their shareholding etc. are attached with the Notice of the Annual
General Meeting of the Company.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to the Director's Responsibility Statement, it
is hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
March 3 1st, 2012, the applicable accounting standards had been
followed along with proper explanations relating to material
departures; - ii) That such accounting policies have been selected and
consistently applied, judgements and estimates made, that are
reasonable and prudent so as to give a æ true and fair view of the
state of affairs of the Company at the end of the financial year and
the profit of the Company for the year under review. iii) That proper
and sufficient care had been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies
Act, 1956 for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities. iv) That the accounts
for the financial year have been prepared on a 'going concern' basis.
FIXED DEPOSITS
Your company has neither invited nor accepted any fixed deposits from
the public during the financial year under review.
CORPORATE GOVERNANCE AND COMPLIANCE CERTIFICATE
Separate notes on Corporate Governance and Management Discussion and
Analysis report are set out as Annexure "A" and "B" respectivejy. A
certificate from the Auditor of the company certifying compliance
conditions of Corporate Governance as Stipulated under Clause 49,of the
Listing Agreement is attached to this report.
LISTING AGREEMENT REQUIREMENTS
The securities of your company are listed at Bombay and Ahmedabad
Exchanges.
BUY BACK OF SHARES
There was no buy back of shares during the year under review.
AUDITORS
The Auditors M/s. Vikram S. Mathur & Co., Chartered Accountants will
retire at the conclusion of the forth coming Annual General Meeting and
are eligible for re- appointment. The Company has received letter form
them to the effect that their appointment, if made, would be within the
prescribed limits under Section 224 (1-B) of the Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
Information in accordance with Section 217(1) (e) of the Companies Act,
1956 read with Ruje 2 of Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 are set out in Annexure 'B'
forming part of this report.
FOREIGN EXCHANGE EARNINGS AND OUTGO : NIL.
ACKNOWLEDGMENT
Your Directors would like to express their sincece appreciation for the
continued support and co-operation received form Bankers, Foreign
Collaborators, Government Authorities and Shareholders. Your Directors
wish to place on record their deep sense of appreciation for the
devoted services of the Executives, Staff and Workers during the year
under review.
For and On behalf of the Board of Directors
For SAWACA BUSINESS MACHINES LIMITED
Place : AHMEDABAD
Date : 25/07/2012 Sd/-
CHAIRMAN
Mar 31, 2011
The Directors have pleasure in presenting the Annual Report together
with audited statement of accounts for the year ended 3lst March, 2011
WORKING RESULTS
Particulars 31/03/2011 31/03/2010
Sales and other income (Net of duties) 4960000 1689600
Profit (Loss) before Depreciation &
Taxation 2410236 890428
Provision for Depreciation 0 144887
Provision for Taxation for
current / prior years 780000 238000
Net Profit after Tax 1630236 507541
Balance of Profit brought forward 1777033 1269492
transfer to' General Reserves 0 0
Proposed Dividend 0 0
Tax on Dividend 0 0
Balance of Profit carried forward
to next year 3407269 1777033
OPERATIONS
The Company continues to focus on the business machines and instruments
business. The top line have increased by a robust 193.56% and the
bottom line - PAT have increased by a very healthy 221.20% for the
year.
DIVIDEND
In order to conserve the resources, your directors do not propose any
dividends for the year. DIRECTORS
In accordance with the Articles of Association of the Company. Anupam
N. Gupta retire by rotation at the forthcoming Annual General Meeting
and are eligible for re- appointment. -
Brief resumes of Directors seeking re-appointment, the nature of their
expertise in specific functional areas, names of companies in which
the hold directorships and the memberships of committees of the Board,
their shareholding etc. are attached with the Notice of the Annual
General Meeting of the Company.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to the Directors Responsibility Statement, it
is hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
March 31s 2011, the applicable accounting standards had been followed
along with proper explanations relating to material departures:
ii) That such accounting policies have been selected and consistently
applied. ' judgments and estimates made, that are reasonable and
prudent so as to give a true arid fair view of the state of affairs
of the Company at the end of the financial year and the profit of the
Company for the year under review.
iii) That proper and sufficient care had been taken for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act.
1956 for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
iv) That the accounts for the financial year have been prepared on a
'going concern' basis.
FIXED DEPOSITS
Your company has neither invited nor accepted any fixed deposits from
the public during the financial year under review.
CORPORATE GOVERNANCE AND COMPLIANCE CERTIFICATE .
Separate notes on Corporate Governance and Management Discussion and
Analysis report
are set out as Annexure "A" and By respectively. A certificate from
the Auditor of the company certifying compliance conditions of
Corporate Governance as Stipulated under Clause 49 of the Listing
Agreement is attached to this report.
LISTING AGREEMENT REQUIREMENTS
The securities of your company are listed at Bombay and Ahmedabad
Exchanges. Trading on company's securities which were suspended up to
17/02/2011 at the Bombay Stock Exchange for the reason of non
submission of documents as per Listing agreement and has been resumed
for trading from 18/02/2011 at the floor of the Exchange.
BUY BACK OF SHARES
There was no buy back of shares during the year under review.
AUDITORS
The Auditors M/s. Vikram S. Mathur & Co.. Chartered Accountants will
retire at the conclusion of the forth coming Annual General Meeting and
are eligible for re- appointment. The Company has received letter form
them to the effect that their appointment, if made, would be within the
prescribed limits under Section 224 (1-B) of the Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
Information in accordance with Section 217(1) (e) of the Companies Act,
1956 read with Rule 2 of Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 are set out in Annexure B'
forming part of this report
AND FOREIGN EXCHANGE EARININGS AND OUTGO : NIL.
ACKNOWLEDGMENT
Your Directors would like to express their sincere appreciation for the
continued support and co-operation received form Bankers. Foreign
Collaborators, Government Authorities and Shareholders. Your Directors
wish to place on record their deep sense of appreciation for the
devoted services of the Executives. Staff and Workers during the year
under review.
For and On behalf of the Board of Directors
For SAWACA BUSINESS
MACHINES LIMITED
Place : AHMEDABAD
Date : 31.07.2011 Sd/-
CHAIRMAN
Mar 31, 2010
The Directors have pleasure in presenting the 16th Annual Report
together with the Audited Accounts of your Company for the year ended
31st March, 2010.
FINANCIAL RESULTS
(Amt. in Rs.)
PARTICULARS 2009-2010 2008-2009
Sales and Other Income 1689600 1500200
(Net of duties)
Profit/(Loss) before Depreciation
& Taxation 799172 825278
Provision for Depreciation1 44887 144887
Provision for Taxation for
current/prior years 238000 250000
Net Profit after Tax 507541 430391
Balance of Profit brought forward 1269492 839101
Transfer to General Reserves 0 0
Proposed Dividend 0 0
Tax on Dividend 0 0
Balance of Profit carried forward
to next year 1777033 1269492
DIVIDEND
In order to conserve the resources, your directors do not propose any
dividends for the year.
OPERATIONS
The Company continues to focus on the business machines and instruments
business. The top line have increased by 12.62% and the bottom line-
PAT have increased by robust 17.93% for the year.
DIRECTORS
In accordance with the Articles of Association of the Company, Mr.
Anupam Gupta retire by rotation at the forthcoming Annual General
Meeting and are eligible for re- appointment.
Brief resumes of Directors seeking re-appointment, the nature of their
expertise in specific functional areas, names of companies in which
they hold directorships and the memberships of committees of the Board,
their shareholding etc. are attached with the Notice of the Annual
General Meeting of the Company.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956, with respect to Directors Responsibility Statement, it is
hereby confirmed:
1. That in the preparation of the accounts for the financial year
ended March 31, 2010 the applicable accounting standards have been
followed along with proper explanations relating to material
departures;
2. That such accounting policies have been selected and consistently
applied and judgments and estimates made, that are reasonable and
prudent so as to give a fair and true view of the state of affairs of
the Company at the end of the financial year and of the profit of the
Company for the year under review;
3. That proper and sufficient care has been taken for the maintenance
of adequate records in accordance with the provisions of the Companies
Act, 1956 for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities;
4. That the accounts for the financial year have been prepared on a
going concern basis.
FIXED DEPOSITS
Your company has neither invited nor accepted any fixed deposits from
the public during the financial year under review.
CORPORATE GOVERNANCE
Separate notes on Corporate Governance and Management Discussion and
Analysis report are set out as Annexure "A" and "B" respectively. A
certificate from the Auditor of the company certifying compliance
conditions of Corporate Governance as Stipulated under Clause 49 of the
Listing Agreement is attached to this report.
LISTING AGREEMENT REQUIREMENTS
The securities of your company are listed at Bombay and Ahmedabad
Exchanges. Trading on companys securities remain suspended at Stock
Exchange for the reason of non submission of documents as per Listing
agreement and all possible steps are being taken by the management to
get share traded at the floor of the Exchanges
BUYBACK OF SHARES
There was no buy back of share during the year under review.
AUDITORS
The Auditors M/s.Vikram S. Mathur & Co., Chartered Accountants will
retire at the conclusion of the forth coming Annual General Meeting and
are eligible for re- appointment. The Company has received letter form
them to the effect that their appointment, if made, would be within the
prescribed limits under Section 224 (1-B) of the Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO.
Information in accordance with Section 217(1) (e) of the Companies Act,
1956 read with Rule 2 of Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 are set out in Annexure B
forming part of this report.
AND FOREIGN EXCHANGE EARNINGS AND OUTGO : NIL
ACKNOWLEDGMENT
Your Directors would like to express their sincere appreciation for the
continued support and co-operation received form Bankers, Foreign
Collaborators, Government Authorities and Shareholders. Your Directors
wish to place on record their deep sense of appreciation for the
devoted services of the Executives, Staff and Workers during the year
under review.
For and On behalf of the Board of Directors
Place: AHMEDABAD
Date: 21/08/2010
Sd/-
Directors