Mar 31, 2014
Dear members,
The Directors are pleased to present the 33rd Annual Report along
with the audited financial statements of the Company for the year
ended 31st March, 2014
Financial results
Highlights of financial result for the year were as under:
2013/14 2012/13
''in Lakhs ''In Lakhs
Profit from Operations before Other
Income & Interest 321.27 510.14
Add: Other Income 3.04 4.25
Operating profit before Interest 10.90 18.84
Less: Interest (1.44) 9.24
Add: Exceptional lncome/(Expenses) - -
Profit Before Tax (1.44) 9.24
Provision for Tax 1.05 (1.76)
Income Tax Adjusted for earlier year (0.88) (5.41)
Profit After Tax (1.61) 2.07
Add: Surplus brought forward from
Previous Year 32.53
Amount available for appropriation 34.60 34.60
General Reserve No. 1 0 -
Debenture Redemption Reserve A/c - -
Dividends - -
Interim Dividend - -
Final (Proposed) - -
Tax on Dividend - -
Balance carried forward 32.99 34.60
REVIEW OF OPERATIONS
The Company is engaged in trading of Zinc oxide and Tea Products.
During the year the Company has imported Rs. 12.623,206/-(P.Y
1141,138,737/-) Of the Zinc oxides and Rs. 4,293,816.67 (P.Y.
9,124,903,79) Of the Tea Products. The Turnover for the current year
has decreased from Rs. 48,028,396/- to Rs.30,276,828/- (P.Y. has
increased from Rs. 29,048,110 /- To Rs. 48,028,396/-) tor the year
ended 31.03 2014 and the profitability has been decreased to Rs. 03.18
Lacs due to recession of global market and fluctuation of prices of
Zinc oxides. The company has tied up with UCA LANKA PVT LTD as sole
representatives for marketrg their products worldwide. The company
expects good prospects In coming years The company has tied up with
BASILUR TEA EXPORTS (PVT) LTD for marketing their products worldwide.
The company expects good prospects in coming years.
HUMAN RESOURCES
Your Directors acknowledge and appreciate the sncere and devoted
services & contribution rendered by the highly committed officers
ptaced at various level of operation of the company.
PARTICULARS OF EMPLOYEES
As none of the Company was in reccpt of remuneration in excess of the
limits presented information as per section 217 (2A) of the Companies
Act, 1956, read with Companies (Particulars of Employees) Rules, 1975,
as amended, are not required to be given.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The companies (Disclosure of particulars in the Report if the Board of
Directors) Rules, 1988 require Disclosure of Particular Regarding
conservation of Energy in Form A and Technology Absorption in Form B.
The Company not being a Manufacturing Company is advised that Form A
and B are not applicable to it.
FOREIGN EXCHANGE EARNINGS & OUTGO
The particular with respect to Foreign Exchange Earning & Expenditure
pursuant to Companies (Disclosure of particulars in the Report of the
Board of Directors) Rules, 1988 appears in the Notes to Accounts.
AUDITORS
M/s. S.D Motta & Associates. Auditors will retire ensuing Annual
General Meeting art berg eligible officer themselves for re-
appointment. The directors recommended their reappointment until the
conclusion of the next Annual General Meeting of the company
FIXED DEPOSITS
During the year, the company has not accepted any Fixed Deposits from
Public under Section 58-A of the Companies Act, 1956
DIRECTORS
Mr. Jitendra Yadav, Director of the Company retires by rotation at the
ensuring Annual General Meeting and being eligible offers himself for
re-apportment.
DIVIDEND
Due to insufficient of the profits of the Company, Directors do not
recommend any dividend.
AUDITORS''S REPORT
The Auditors have referred to certain matters in their report. The
respective notes to the account are self-explanatory in respect of
comments of the Auditor.
ACKNOWLEDGEMENTS
Your Directors take this opportunity to place on record their
appreciation of the continued cooperation and support extended by the
Bankers, Business Constituents, employees and the shareholders of the
Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
In terms of Section 217 (2AA) of the Companies Act, 1956, the
Directors of the Company state in respect of the year ended 31st
March, 2014.
a) In preparation of Annual Accounts, the applicable Accounting
Standards have been followed along with proper explanation relating to
material departures.
b) They have selected such Accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the State of Affairs of
the Company at the end of the financial year and of the Profit or Loss
of the Company for that year. (Rs. In Lacs)
(c) They have taken proper and sufficient care 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.
d) They have prepared Annual Accounts on a going concern basis.
Registered Office: By Order of the Board
Mittal Tower Nariman Point, (Ranjana Gupta)
Mumbai-400021 Chairperson
Date: 29th May, 2014
Mar 31, 2013
The Directors are pleased to present the 32nd Annual Report along with
the audited financial statements of the Company for the year ended 31st
March, 2013
Financial results
Highlights of financial result for the year were as under: ¦
(Rs. in Laces)
Particulars 2012-13 2011-12
Sales and other income 510.14 290.48
Operating profit before interest,
depreciation and tax 18.84 (20.04)
Other Income 4.25 4.00
Less:
Interest and other financial charges - -
Depreciation (13.85) (10.51)
Profit before tax 9.24 (26.55)
Provision for Taxation-MAT (1.76) -
Less:
Income Tax (including
deferred tax and FBT) - -
Income Tax adjusted
for Earlier Years (5.41) -
Profit/(Loss) After Tax 2.07 (26.55)
Debenture redemption reserve - -
Proposed dividend - -
Dividend tax - -
Profit brought forward
from previous 32.52 59.07
Profit carried to Balance Sheet 34.60 32.52
REVIEW OF OPERATIONS
The Company is engaged in trading of Zinc oxide and Tea Products.
During the year the Company has imported Rs. 1, 14, 11,387.37/-(P.Y.
18,414,923/-) Of the Zinc oxides and Rs. 91, 24,903.79 /-(P.Y.
3,110,969.47 /-) Of the Tea Products. The Turnover for the current year
has Increased from Rs. Rs.29, 048,110/- to Rs, 4,80,28,396/- (P.Y. it
was decreased from Rs. /- 59,263,773/- to Rs. 29,048,110/-) for the
year ended 31.03.2013 and the profitability has been increased to
9,23,341/- due to increase of the demand of the products in tea segment
of the Company. The company has tied up with UCA LANKA PVT LTD as sole
representatives for marketing their products worldwide. The company
further expects good prospects in coming years. The company tie up
with BASILUR TEA EXPORTS (PVT) LTD for marketing their products
worldwide has indicated a positive response. The company expects that
good prospects would continue in coming years.
HUMAN RESOURCES
Your Directors acknowledge and appreciate the sincere and devoted
services & contribution rendered by the highly committed officers
placed at various level of operation of the company.
PARTICULARS OF EMPLOYEES
As none of the employees of the Company was in receipt of remuneration
in excess of the limits prescribed, information as per section 217(2A)
of the Companies Act, 1956, read with Companies (Particulars of
Employees) Rules, 1975, as amended, are not required to be given.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The companies (Disclosure of particulars in the Report if the Board of
Directors) Rules, 1988 require Disclosure of Particular Regarding
conservation of Energy in Form A and Technology Absorption in Form B.
The Company not being a Manufacturing Company is advised that Form A
and B are not applicable to it.
AUDITORS
M/s. S.D. MOTTA & ASSOCIATES, Chartered Accountant, Auditors will
retire ensuing Annual General Meeting and being eligible officer
themselves for re-appointment. The directors recommended their
reappointment until the conclusion of the next Annual General Meeting
of the company
FIXED DEPOSITS''-
During the year, the company has not accepted any Fixed Deposits from
Public under Section 58-A of the Companies Act,1956.
DIRECTORS
Mrs. Rajang Gupta of the Company retires by rotation at the ensuring
Annual General Meeting and being eligible offers herself for
re-appointment.
DIVIDEND ¦
Due to insufficient of the profits of the Company, Directors do not
recommend any dividend.
AUDITORS S REPORT
The Auditors have referred to certain matters in their report. The
respective notes to the account are self-explanatory in respect of
comments of the Auditor.
ACKNOWLEDGEMENTS
Your Directors take this opportunity to place on record their
appreciation of the continued cooperation and support extended by the
Bankers, Business Constituents, employees and the shareholders of the
Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
In terms of Section 217(2AA) of the Companies Act, 1956, the Directors
of the Company state in respect of the year ended 31st March, 2013.
a) In preparation of Annual Accounts, the applicable Accounting
Standards have been followed along with proper explanation relating to
material departures.
b) They have selected such Accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the State of Affairs of
the Company at the end of the financial year and of the Profit or Loss
of the Company for that year. (Rs. In Laces)
(c) They have taken proper and sufficient care 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.
d) They have prepared Annual Accounts on a going concern basis.
Registered Office: By Order of the Board
162-c, Metal Tower Airman Point,
Mumbai-400 021
Date: 30th May, 2013
(Ranjana Gupta)
Chairperson
Mar 31, 2010
The Directors have pleasure in presenting their Twenty Ninth Annual
Reports together wiith the Audited Accounts of your Company for the
financial year 31st March 2010.
FINANCIAL RESULTS
(RS. In Lacs)
Year Ended Year Ended
31/03/2010 31/03/2009
Gross Turnover 510.07 100.40
Gross Operating Profit 27.71 10.88
Depreciation (9.32) (7.71)
Profit before Tax 18.39 3.17
Provision for Taxation 1.53 -
Expenses related to Prior Period (0.48) (4.11)
Profit/ (Loss) After Tax 16.38 (0.95)
Profit brought forward from previous 39.47 40.42
Profit carried to Balance Sheet 55.85 39.47
REVIEW OF OPERATIONS
The Company is engaged in trading of Zinc oxide and performed well.
During the year the Company has imported Rs. 36,816,689/- {P.Y.
4,924,6567-) Of the Zinc oxides. The Turnover for the current year has
increased from Rs. 8,203,135/- to Rs. 49,362,8467- (P.Y.Rs.
27,909,148/- To Rs. 8,203,135/-) for the year ended 31.03.2010 and the
profitability has been increased from Rs. 3.17 lacs to Rs. 18.39 lacs
due to recession of global market and fluctuation of prices of Zinc
oxides. The company has tied up with UCA LANKA PVT LTD as sole
representatives for marketing their products world wide. The company
expects good prospects in coming years.
DIVIDEND
Due to Plough back profit of the Company, Directors do not recommend
any dividend.
AUDITORSS REPORT
The Auditors have referred to certain matters in their report. The
respective notes to the account are self-explanatory in respect of
comments of the Auditor.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The companies (Disclosure of particulars in the Report if the Board of
Directors) Rules, 1988 require Disclosure of Particular regarding
conservation of Energy in Form A and Technology Absorption in Form B.
The Company not being a Manufacturing Company is advised that Form A
and B are not applicable to it.
FOREIGN EXCHANGE EARNINGS & OUTGO
The particular with respect to Foreign Exchange Earning & Expenditure
pursuant to Companies (Disclosure of particulars in the Report of the
Board of Directors) Rules, 988 appears in the Notes to Accounts.
FIXED DEPOSITS
During the year, the company has not accepted any Fixed Deposits from
Public under section 58-A of the Companies Act, 1956.
DIRECTORS
Mr. Rahgav Gupta, Director of the Company retires by rotation at the
ensuring Annual Gemeral Meeting and being eligible offers himself for
re-appointment.
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:
i) that in the preparation of the annual accounts for the financial
year ended 31st March 2010 the applicable accounting standards have
been followed along with proper explanation relating to material
departures;
ii) that the directors have selected such accounting policies and
applied hem consistently and made judgments and estimates that were
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 the year under review:
iii) that the director 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;
iv) that the Directors have prepared the accounts for the financial
year ended 31st March, 2010 on a going concern basis.
AUDITORS
M/s. Uday Pasad & Associates, Chartered Accountant, Auditors will
retire ensuing Annual General Meeting and being eligible officer
themselves for re-appointment The directors recommended their
reappointment until the conclusion of the next Annual General Meeting
of the company.
Compliance Certificate
During the year, the Company has appointed M/s. VKM & Associates,
practicing company Secretary to obtain compliance certificate u/s 383A
of the Companies Act 1956. A copy of Compliance Certificate is enclosed
herewith.
HUMAN RESOURCES
Your Directors acknowledge and appreciate the sincere and devoted
services & contribution rendered by the highly committed officers
placed at various level of operation of the company.
PARTICULARS OF EMPLOYEES
None of the employees qualify for the remuneration under section
217(2A) of the company act, 1956 hence no particular are given.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from various Government
Department, Banks, Customers and shareholders of the company during the
financial year.
By Order of the Board of Directors.
RANJANA GUPTA
Chairperson
Place: Mumbai
Date: 26.07.2010
REGISTERED OFFICE:
162-C, Mittal tower,
Nariman Point,
Mumbai-400021
Mar 31, 2009
The Directors have pleasure in presenting their Twenty Eight Annual
Reports together with the Audited Accounts of your Company for the
financial year 31st March 2009.
FINANCIAL RESULTS
(RS. In Lacs)
Year Ended Year Ended
31/03/2009 31/03/2008
Gross Turnover 100.40 289.24
Gross Operating Profit 10.88 40.99
Depreciation (7.71) (1.83)
Profit before Tax 3.17 39.16
Provision for Taxation 0.00 3.99
Expenses related to Prior Period (4.11) -
Profit/ (Loss) After Tax (0.95) 35.17
Profit brought forward from previous 40.42 5.26
Profit carried to Balance Sheet 39.47 40.42
REVIEW OF OPERATIONS
The Company is engaged in trading of Zinc oxide and performed well.
During the year the Company has imported Rs. 49, 24.56/- (P.Y. 1, 77,
51,676.96/-) Of the Zinc oxides. The Turnover for the current year has
decreased from Rs. 2,79,09,148/- to Rs. 82,03,135/- (P.Y.Rs.
2,28,94,767/- To Rs. 2,79,09,148/-) for the year ended 31.03.2009 and
the profitability has been decreased from Rs. 39.16 lacs to Rs.3.17
lacs due to recession of global market and fluctuation of prices of
Zinc oxides The company has tied up with UCA LANKA PVT LTD as sole
representatives for marketing their products world wide. The company
expects good prospects in coming years.
DIVIDEND
Due to Plough back profit of the Company, Directors do not recommend
any dividend.
AUDITORSs REPORT
The Auditors have referred to certain matters in their report. The
respective notes to the account are self-explanatory in respect of
comments of the Auditor.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The companies (Disclosure of particulars in the Report if the Board of
Directors) Rules, 1988 require Disclosure of Particular regarding
conservation of Energy in Form A and Technology Absorption in Form B.
The Company not being a Manufacturing Company is advised that Form A
and B are not applicable to it.
FOREIGN EXCHANGE EARNINGS & OUTGO
The particular with respect to Foreign Exchange Earning & Expenditure
pursuant to Companies (Disclosure of particulars in the Report of the
Board of Directors) Rules, 1988 appears in the Notes to Accounts.
FIXED DEPOSITS
During the year, the company has not accepted any Fixed Deposits from
Public under Section 58-A of the Companies Act, 1956.
DIRECTORS
Mr. Raghav Gupta, Director of the Company retires by rotation at the
ensuring Annual General Meeting and being eligible offers himself for
re-appointment. Mr. Narendra Bajaj has been appointed as Independent
Director 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.
i) that in the preparation of the annual accounts for the financial
year ended 31st March 2009 applicable accounting standards have been
followed along with proper explanation relating to material departures:
ii) that the directors have selected such accounting policies and
applied them f consistently and made judgments and estimates that were
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 the year under review:
iii) that the director 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;
iv) that the Directors have prepared the accounts for the financial
year ended 31st March, 2009 on a going concern basis.
AUDITORS
M/s. Uday Pasad & Associates, Chartered Accountant, Auditors will
retire ensuing Annual General Meeting and being eligible officer
themselves for re-appointment. The directors recommended their
reappointment until the conclusion of the next Annual General Meeting
of the company.
Compliance Certificate
During the year, the Company has appointed M/s. VKM & Associates,
practicing company Secretary to obtain compliance certificate u/s 383A
of the Companies Act 1956 A copy of Compliance Certificate is enclosed
herewith.
HUMAN RESOURCES
Your Directors acknowledge and appreciate the sincere and devoted
services & contribution rendered by the highly committed officers
placed at various level of operation of the company.
PARTICULARS OF EMPLOYEES
None of the employees qualify for the remuneration under section
217(2A) of the company act, 1956 hence no particular are given.
ACKNOWLEDGEMENT .
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from various Government
Department, Banks, Customers and shareholders received from various
Government Department, Banks, Customers and
By Order of the Board of
Directors
RANJANA GUPTA
Chairperson
Place: Mumbai
Date: 25.07.2009
REGISTERED OFFICE:
162-C,Mittaltower,
Nariman Point,
Mumbai-400021
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