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Anup Malleables Directors Report, Anup Malleables Reports by Directors
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Anup Malleables
BSE: 506087|ISIN: INE188O01016|SECTOR: Castings & Forgings
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Directors Report Year End : Mar '14    Mar 13
Dear Shareholders, 
 
 The Directors take pleasure in presenting their Annual Repodapd 
 the Audited Accounts o( your gprppapy for
 
 FINANCIAL RESULTS
 
                                                       (Amount in Rs.)
 Particulars                                F.Y. 2013-14   F.Y. 2012-13
 
 1 Gross Turn Over                           154,365,864    126,693,363
 
 2 Net Turnover                              152,323,218    125,461,857
 
 3 Other Income                                2,042,646      1,231,506
 
 4 Total Revenue                             154,365,864    126,693,363
 
 5 Earning before Interest,                  2,22,83,919     19,545,995
 
 Depreciation and Amortization
 (EBIDTA)
 
 6 Interest                                   12,564,743     12,369,803
 
 7 Depreciation                                6,782,850      3,982,942
 
 8 Profit before Taxation (PBT)                2,936,326      3,193,250 
 
 9 Tax including Deferred Tax                     74,341      4,002,017
 
 10 Profit (Loss) after Tax                    2,861,985       (808,767)
 
 11 Profit brought forward from                6,645,508     26,204,275
 previous year
 
 12 Less: Capitalisation for Bonus                     -     18,750,000
 Issue
 
 13 Profit during the year                     2,861,985       (808,767)
 
 14 Amount available for appropriation         9,507,493      6,645,508
 
 15 Surplus carried to Balance Sheet           9,507,493      6,645,508
 
 
 OPERATIONAL & FINANCIAL GROWTH Total Revenue
 
 Total income of the Company for the financial year 2013-14 comprises of
 Net Sales, work contract receipt and other income amounts to Rs. 1523
 Lacs which was a increase of 21% over last year''s figure. 
 
 Profit before Tax
 
 Profit before tax for the year under review was Rs.29.36 Lacs, a
 decrease of 8% over the last year''s figure.
 
 Profit after Tax
 
 Profit after tax for the year under review was profit of Rs.28.61 Lacs
 registered a increased of 110% over the last year''s figure.
 
 Earnings per Share
 
 Earnings per share for the year under review was Rs1.09 as compared to
 Rs.(0.31) for the last year.
 
 Net worth
 
 Net worth of the Company for the financial year 2013-14 is Rs.408.97
 Lac as against Rs. 380.35 Lac of the last year. 
 
 Dividend
 
 Considering your Company''s present situation, your Directors regret to
 recommend a dividend for the year under '' review.
 
 CORPORATE GOVERNANCE 
 
 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 Auditors 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, 2014, the applicable accounting
 standards have been followed along with proper explanations, wherever
 required.
 
 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
 preventing and detecting any fraud and other irregularities.
 
 d) the annual accounts have been prepared on a going concern basis.
 
 FINANCIAL STATEMENTS 
 
 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
 India. Since your Company does not have any subsidiary, preparation of
 the Consolidated Financial Statement is not required.
 
 DIRECTORS
 
 Mr. Ashok Khaitan (DIN: 00293871), an executive Director who was
 appointed as an Additional Director for a period of three years having
 25 year experience in Finance and Administration I
 
 Mr. Ayush Agarwalla (DIN: 03051060), an executive Director who was
 appointed as an Additional Director for a period of three years having
 3 years experience in Mechanical Engineering.
 
 Mr. Suyash Khaitan (DIN: 03349969), an executive Director who was
 appointed as an Additional Director for a period of three years having
 2 years Experience in administration and finance field
 
 Mr. Sushil Kumar (06763392), a non- executive Director of the Company
 whose period of office is liable to retirement by rotation is
 designated as Additional Director having 12 years Experience in
 commercial and sales.
 
 Mr. Vikash Agarwal (DIN: 06763404), a non- executive Director of the
 Company whose period of office is liable to retirement by rotation
 designated as Additional Director having 10 years Experience in Finance
 and Accounts Field.
 
 Mr. Sanjeev Choudhary (DIN: 02788969), a non- executive Director of the
 Company whose period of office is liable to retirement by rotation
 designated as Additional Director having 11 years Experience in
 Accounts and Finance Field.
 
 None of the Directors of the Company are disqualified as per section
 164 of the Companies Act, 2013. The Directors have made necessary
 disclosures as required under various provisions of the Act and Clause
 49 of the Listing Agreement.
 
 STATUTORY AUDITORS
 
 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 and section 139 of
 the Companies Act, 2013.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.
 
 FIXED DEPOSITS:
 
 The Company has not accepted any fixed deposits from public within the
 meaning of Section 58A of the Companies Act, 1956 and the rules made
 there under.
 
 SECRETARIAL AUDIT / COMPLIANCE REPORT
 
  The Secretarial Compliance Certificate confirms that the Company had
 complied with all the applicable provisions of the Companies Act, 1956,
 Listing Agreements with the Stock Exchanges, Securities Contract
 (Regulation) Act, 1956, '' and all the other Regulations of SEBl as
 applicable to the Company, including the SEBI (Substantial Acquisition
 of Shares and Takeovers) Regulations, 2011 (as amended) and the SEBI
 (prohibition of Insider Trading) Regulations, 1992. I
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO
 
                                         CURRENT YEAR   PREVIOUS YEAR 
 
 a) Earning in Foreign Exchange                 Nil          Nil
 
 b) Expenditure in Foreign Currency          9,75,799    6,12,37,681
 
 c) Imports of goods                            Nil          Nil
 
 d) Purchase of Fixed Assets                    Nil        '' Nil
 
 APPRECIATION ,
 
 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
 
                                              Sd /-
                                         Ashok Khaitan 
                                         Managing Director
 
 Place : Kolkata 
 Dated : 29.05.2014
 
 
Source : Dion Global Solutions Limited
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