Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the 27th Annual Report and
Audited Accounts of your Company for the year ended 31st March, 2014.
1. YOUR COMPANY''S SUMMARISED FINANCIAL RESULTS ARE AS UNDER:
(Rupees in thousands)
CURRENT YEAR PREVIOUS YEAR
ENDED 31.03.2014 ENDED 31.03.2013
Turnover 208586314 186373974
Other Income 1434240 2424812
Profit/(Loss) before
exceptional, items & taxation 21376075 8255308
Profit/(Loss) before
taxation 21366400 8241414
Provision for Taxation
Net Profit after Taxation 14087596 4807745
2. OPERATIONS
During the year under review the turnover of the Company Rs.20.85
Crores in comparison to the previous year''s figure at Rs.18.63 Crores.
The company has achieved net profit after tax which is reported at
Rs.140.87 lacs in comparison to profit of Rs.48.07 lacs in the previous
year. The company has been trying hard to reduce the interest and other
costs and to get more profits. In future after adopting all cost
cutting measures and by improving its overall sales the company is
hopeful of performing much better and improves its profitability
accordingly.
3. DIVIDEND
Your Directors are proposing 5% dividend during the year.
4. FINANCIAL ACTIVITIES
Even though the company needs more working capital to meet with the
production and supply against orders in hand, the company is managing
with its present level of working capital facilities.
5. DIRECTORS
In accordance with the provision of Section 152 of the Companies Act,
2013 and the Articles of Association of the Company Dr. Parag Ashok
Sharma, Director, retires by rotation at the ensuing Annual General
Meeting of your Company and being eligible, offers himself for
re-appointment. The board has revised the remuneration payable to Sri
Rajesh Pokerna. w.e.f. for 1-4-2014.
6. AUDITORS
M/s Agarwal Gupta Nokari & Rustagi Associates, Chartered Accountants,
Auditors of the Company hold office till the conclusion of the ensuing
Annual General Meeting. The Auditors have furnished a certificate,
under section 224(1) of the Companies Act, 1956, of their eligibility
for reappointment, therefore Your Directors recommend M/s Agarwal Gupta
Nokari & Rustagi Associates, Chartered Accountants for appointment as
your Company''s Statutory Auditors from the conclusion of this Annual
General Meeting till the conclusion of the next
Annual General Meeting.
7. CORPORATE GOVERNANCE
Your Company is committed to business integrity, high ethical values
and professionalism in all its activities. As an essential part of this
commitment, the Board of Directors support high standards in corporate
governance. A separate report on Corporate Governance along with the
certificate of the Auditors, M/s Agarwal, Gupta, Nokari & Rustagi
Associates, confirming compliance of the conditions of corporate
governance, as stipulated under clause 49 of Listing Agreements entered
into with the Stock Exchanges is annexed.
8. DEPOSITS
During the year under review, your Company has not accepted any
deposits.
9. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EARNINGS
AND OUTGO
Additional information on conservation of Energy, Technology absorption
and foreign exchange earnings and outgo as required to be disclosed in
terms of Section 217(1)(e) of the Companies Act, 1956 read with
Companies (Disclosure of particulars in the Report of Board of
Directors) Rules, 1988 is set out in Annexure and forms part of this
report.
10. PARTICULARS OF EMPLOYEES
None of the employees is drawing remuneration in excess of the ceiling
laid down under the provision of Section 217 (2) (A) of the Companies
Act, 1956 as amended read with the Companies (particulars of Employees)
Rules, 1975.
11. DIRECTORS RESPONSIBILITY STATEMENT
In compliance of recently introduced Section 217 (2AA) in the Companies
Act, 1956, your Directors state that:
i) That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed and there has been no material
departure;
ii) That the selected accounting policies were applied consistently and
the Directors 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, 2014 and of the profit of the Company for
the year ended on that date;
iii) That proper and sufficient care has been taken for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safe guarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
iv) That the Annual Accounts have been prepared on a going concern
basis.
12. ACKNOWLEDGEMENTS
The Directors wish to place on record their sincere thanks and
gratitude to the State Bank of India for their continued assistance and
co-operation, and the customers for their continued support and
patronage.
REGISTERED OFFICE BY ORDER OF THE BOARD OF DIRECTORS
Shed No.42, Phase II, IDA,
Mallapur,
Hyderabad - 500 076,
Telangana State.
Sd/- Sd/-
(PRAKASH CHAND JAIN) (RAJESH POKERNA)
MANAGING DIRECTOR WHOLE TIME DIRECTOR
Dated this 22nd Day of August, 2014
Mar 31, 2013
Dear Members,
The Directors have pleasure in presenting the 26th Annual Report and
Audited Accounts of your Company for the year ended 31 st March, 2013.
1. YOUR COMPANY''S SUMMARISED FINANCIAL RESULTS ARE AS UNDER: ¦
(in Rupees)
CURRENT YEAR PREVIOUS YEAR
ENDED 31.03.2013 ENDED 31.03.2012
Turn over 186373974 202010833
Other Income 2287577 7864025
Profit/(Loss) before
exceptional, items & taxation 8118073 6480690
Profit/(Loss) before
txation 8241414 6440462
Net Profit after Taxation 4807745 4437930
2. OPERATIONS
During the year under review the turnover of the Company Rs.18.63
Crores in comparison to the previous year''s figure at Rs.20.20 Crores.
The company has achieved net profit after tax which is reported at Rs
48 07 lacs in comparison to profit of Rs.44.37 lacs in the previous
year. The company has been trying hard to reduce the interest and other
costs and to get more profits in future after adopting all cost cutting
measures and by improving its overall sates the company is hopefui of
performing much better and improves its profitability accordingly. J
3. DIVIDEND
Your Directors are proposing 5% dividend during the year.
4. FINANCIAL ACTIVITIES
Even though the company needs more working capital to meet with the
production and supply against orders in hand, the company is managing
with its present level of working capital facilities.
5. DIRECTORS
In accordance with the provision of the Companies Act, 1956 and the
Articles of Association of the Company Shri Rajiv Pritidas Kakodkar,
Director retires by rotation at the ensuing Annual General Meeting of
your Company and being eligible offers himself for re-appointment The
reappointment and revision of remuneration of Shri Sunil Kumar Jain,
Whole Time Director, Shri Rajesh Pokerna, Whole Time Director, Shri
Sanjay Kumar Jain, Executive Director is put for ratification and
approval of the Shareholders of the Company. Further revision of
Remuneration of Shri Prakash Chand Jain, Managing Director of our
Company is also put for ratification and approval of the Shareholders
of the Company.
6. AUDITORS
M/s Agarwai Gupta Nokari & Rustagi Associates, Chartered Accountants,
Auditors of the Company hold office till the conclusion of the ensuing
Annual General Meeting. The Aud iters have furnished a certificate,
under section 224(1) of the Compan ies Act, 1956, of their eligibility
for reappointment, therefore Your Directors recommend M/s Agarwai Gupta
Nokari & Rustagi Associates, Chartered Accountants for appointment as
your Company''s Statutory Auditors from the conclusion of this Annual
General Meeting till the conclusion of the next Annual Genera! Meeting.
7. CORPORATE GOVERNANCE
Your Company is committed to business integrity, high ethical values
and professionalism in all its activities. As an essentia! part of this
commitment, the Board of Directors support high standards in corporate
governance, A separate report on Corporate Governance along with the
certificate of the Auditors, M/s Agarwai, Gupta, Nokari & Rustagi
Associates, confirming compliance of the conditions of corporate
governance, as stipulated under clause 49 of Listing Agreements entered
into with the Stock Exchanges is annexed.
8. DEPOSITS
During the year under review, your Company has not accepted any
deposits.
9. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EARNINGS
AND OUTGO
Additional information on conservation of Energy, Technology absorption
and foreign exchange earnings and outgo as required to be disclosed in
terms of Section 217(1 ){e) of the Companies Act, 1956 read with
Companies (Disclosure of particulars in the Report of Board of
Directors) Rules, 1988 is set out in Annexure and forms part of this
report.
10. PARTICULARS OF EMPLOYEES
None of the employees is drawing remuneration in excess of the ceiling
laid down underthe prevision of Section 217 (2) (A) of the Companies
Act, 1956 as amended reaa with the Companies (particulars of Employees)
Rules, 1975.
11. DIRECTORS RESPONSIBILITY STATEMENT
lr"compliance of recently introduced Section 217 (2AA) in the Companies
Act 1956, your Directors state that;
i) That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed and there has been no material
departure;
ii) That the selected accounting policies were applied consistently and
the Directors made judgments and estimates that are reasonable and
prudent so as to give a true and fai r view oft he state-of-affairs of
the Company as at 31st March, 2013 and of the profit of the Company for
the year ended on that date;
iii) That proper and sufficient care has been taken for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act 1956 for safe guarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
iv) That the Annual Accounts have been prepared on a going concern
basis.
12. ACKNOWLEDGEMENTS
The Directors wish to place on record their sincere thanks and
gratitude to the btate Bank of India for their continued assistance and
co-operation and the customers for their contin ued support and
patronage.
REGISTERED OFFICE BY 0RDER OF THE B0ARD 0F DIRECTORS
Shed No,42, Phase II, IDA,
Mallapur,
Hyderabad - 500 076,
Andhra Pradesh.
(PRAKASH CHAND JAJN) (RAJESH POKERNA)
MANAGING DIRECTOR WHOLE TIME DIRECTOR
Dated this 241h Day of August, 2013