The Directors take pleasure in presenting their 31st Annual Report and
the Audited Accounts of your Company for the year ended March 31, 2013.
FINANCIAL RESULTS (Amount in Rs.)
Particulars F.Y. 2012-13 F.Y. 2011-12
1 Gross Turn Over 126,693,363 137,204,325
2 Net Turnover 125,461,857 134,233,458
3 Other Income 1,231,506 2,970,867
4 Total Revenue 126,693,363 137,204,325
5 Earnings before Interest,
Depreciation and Amor- 19,545,995 23,426,450
6 Interest 12,369,803 8,072,781
7 Depreciation 3,982,942 3,195,236 ''
8 Profit before Taxation (PBT) 3,193,250 12,158,433
9 Tax including Deferred Tax 4,002,017 3,939,534
10 Profit (Loss) after Tax (808,767) 8,218,899
11 Profit brought forward
from previous year 26,204,275 18,421,210
12 Less: Capitalization
for Bonus Issue 18,750,000 7,454,275
13 Amount available for
appropriation 6,645,508 26,640,109
14 Transfer to General Reserve - -
15 Proposed Dividend & Tax - 435,834
16 Surplus carried to
Balance Sheet 6,645,508 26,204,275
OPERATIONAL & FINANCIAL GROWTH Total Revenue
Total income of the Company for the financial year 2012-13 comprises of
Net Sales, work contract receipt and other income amounts to Rs.1254
Lacs which was a decrease of 7% over last year''s figure.
Profit before Tax
Profit before tax for the year under review was Rs.31.93 Lacs, a
decrease of 26% over the last year''s figure.
Profit after Tax
Loss after tax for the year under review was loss of Rs.8.08 Lacs
registered a decrease of 110% over the last year''s figure.
Earnings per Share
Earnings per share for the year under review was Rs.(0.03) as compared
to Rs. 10.66 for the last year.
Net worth of the Company for the financial year 2012-13 is Rs.380.35
Lac as against Rs.388.44 Lac of the last year.
Considering your Company''s present situation, your Directors regret
to recommend a dividend for the year under re- view. *
Your Company has fully complied with the requirements of Clause-49 of
the Listing Agreement regarding Corporate Governance. (
A Report on Corporate Governance Practices and the Practicing Company
Secretary''s Certificate on compliance of mandatory requirements
thereof is given as annexure to this report.
DIRECTORS'' RESPONSIBILITY STATEMENT
Your Directors hereby confirm that:
a) in the preparation of annual accounts, containing financial
statements for the year ended March 31, 2013, the applicable accounting
standards have been followed along with proper explanations, wherever
b) the Board had 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 for the period.
c) the Board has taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with provisions of the
Companies Act, 1956 for safe guarding the assets of the company and for
pre- venting and detecting any fraud and other irregularities.
d) the annual accounts have been prepared on a going concern basis.
Pursuant to Clause 41 of the Listing Agreement entered into with the
stock exchanges, the Board of Directors has pleasure in attaching the
Financial Statement prepared in accordance with the Accounting
Standards prescribed by the Institute of Chartered Accountants of
Since your Company does not have any subsidiary, preparation of the
Consolidated Financial Statement is not required.
Mr. Rishi Bajoria and Mr. Binoy Modi, Directors of the Company retire
by rotation at the ensuing Annual General Meeting and are eligible
None of the Directors of the Company are disqualified as per section
274(1 )(g) of the Companies Act, 1956. The Di- rectors have made
necessary disclosures as required under various provisions of the Act
and Clause 49 of the Listing Agreement.
The Statutory Auditors M/s. Ashok Kedia & Company, Chartered
Accountants, retire at the conclusion of the forthcoming Annual
General Meeting and being eligible, offer themselves for
re-appointment. Certificate from the Auditors has been obtained to the
effect that their re-appointment, if made, would be within the limits
prescribed under section 224(1 B) of the Companies Act, 1956.
The Notes to Accounts forming part of the financial statements are self
explanatory and needs no further explanation. There are no
qualifications or adverse remarks in the Auditors'' Report which
require any clarification/explanation.
Your Directors take this opportunity to thank the Bankers, Government
Authorities, Customers, Vendors, Shareholders and Employees for their
continued assistance, cooperation and support to the Company.
For and on behalf of the Board of Directors
D. K. Agarwalla
Dated : 30th May 2013