The Directors are pleased to present the 34th Annual Report together
with the Audited Accounts for the financial year ended 31st March ,2015.
1. RESULTS OF OUR OPERATIONS
I.) Summarised Standalone Financial Results Arahlya Limited
Particulars Year Ended Year ended
Rs In Lacs) (Rs In Lacs)
Income 5,110.75 31.654,86
Expenditure 252928 46,97428
Depredation and Tax (25,996.14) (17,319.42)
Depreciation 2,922.01 1,958.10
Profit(Loss) Before Tax and
Exceptional Items (23,074.13) (19,277.52)
Exceptional Items (Net) 1,008.79 10,687.35
Prior Period Items (Net) 317.40 (8L36)
Profit (Loan) After Tax (24,400.32) (29,707.68)
IL) Summarized Consolidated Financial Results Arahlya Limited and Its
Particulars Year Ended Year ended
( Rs In Lacs) ( Rs In Lacs)
Income 33,206.14 53.647.61
Expenditure 69,622 13 91,664,34
Profit''lLoss) Before Depreciation and Tax (36,415.99) (38,016.73)
Depreciation 10,109.33 8,352.89
Profit/(Loss) Before Tax and
Exceptional Items (48,52522) (46,369.62)
Exceptional items (Net) 1,08521 21265.65
Prior Period Adjustments (Net) 354.74 14913.74
Profit/!Low) Before Tax (47,965.87) (82549.31)
Net Profit/(Loss) After Tax (47,400.69) (84,622.95)
The consolidated Financial Statements of the Company are prepared h
accordance with relevant Accounting Standards viz. AS-21, AS-23 and
AS-27 Issued by the Institute of Chartered Accountants of India and
forms part of this Annual Report
In view of losses, the Directors that their inability to recommend
dividend tor the financial year ended 31st Match 2015. hrs.)
Particular* of loans, guarantees or Investments by company
Details of Loans, Guarantees and Investments covered under the
previsions of Section 106 of the Companies Act, 2013 are given in the
notes to Financial Statements.
v. ) Fixed Deposit*
The Company has not accepted any deposits, within the meaning of
section 73 of the Companies Act, 2013 read with the Companies
(Acceptance of deposit*) Rules, 2014.
vi. ) Particulars of Contracts or arrangements made with related
All transactions entered with Related Parties tor the year under review
were on arm''s length basis and in the ordinary course of business and
that the provisions of Section 188 of the Companies Act, 2013 are not
attracted. Thus disclosure in Form AOC-2 is not required Further, there
are no material related party transactions during the year under review
with Promoters, Directors or Key Managerial Personnel. The Company has
developed a Related Party Transactions framework through Standard
Operating Procedure tor the purpose of Identification and monitoring of
All Related Party Transactions are placed before the Audit Committee as
also before the Board tor approval. Omnibus approval was obtained on a
quarterly basis for transactions which are of repetitive nature.
Transactions entered into pursuant to omnibus approval are audited and a
statement giving details of all Related Party Transactions are placed
before the Audit Committee and Board for review and approval on e
The Policy on Related Party Transactions as approved by the Board of
Directors has been uploaded on the website of the Company. The web link
of the same has been provided in the Corporate Governance Report None
of the Directors has any pecuniary relationship or transactions vis is
vii.) Material changes and commitment. If any, affecting the financial
position of the company occurred between the end of the financial year
to which this financial statements relate and the dale of the report
No material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which
this financial statements relate on the date of this report.
viii) Share Capital
The paid- up equity share capital of the Company as at March 31, 2015
stood at 725,43,58,944/- (Rupees Twenty Five Croros Forty Eight Lakhs
Fifty Eight Thousand Nine Hundred Forty only). During the Year
under review the Company has allotted 53.00,000 shares to the Promoters
upon Conversion of Warrants Into equity and also 5.50.00,000 equity
Shares to the Promoters on Preferential basis pursuant to the CDR
Scheme as approved by the CDR-EG.
2. BUSINESS AND FUTURE OUTLOOK:
Arshlya plans to capitalize on India''s mammoth logistics opportunity by
being India''s only Unified Supply Chain Infrastructure and Solutions
Group. With a rich legacy in the logistics and supply chain industry in
India, Analysis unique business model makes it a pioneering company In
a.) Rail and Rail Infrastructure:
Arshlya Rail Infrastructure United started Its operations In February
2008. Our unique model has resulted In Arshlya Rall being the second
largest Container Train Operator (CTO) and largest in Private sector in
India. This company is operating total 20 container trains along with
4000 multipurpose domestic containers at present and mostly In domestic
sector at more than 25 locations In pan India. The company stands atop
with regard to freight transportation per annum among the PCTO. Arshlya
Rail la giving customized and long term freight services to corporate
clients The company has also recently started EXIM freight services tor
various gateway port like Vlzag, Kolkata, Mumbai and Haldla
Private freight terminal at Khurja
Arshlya Rall Sidling at Khurja took one more step towards addressing the
growing demand of the business and subsequently got notified as
Brownfield Private Freight Terminal tor handling all types of Inward
and outward traffic In full rakes, also being the First to be notified
Apart from the existing container trains coming into Arshiya Rail
Infrastructure, Khurja (ARIK) with commodities such as Ingots, Billets
and Sponge Iron, the cement Industry looks at this terminal as
strategic for feeding the plants and end users considering the growing
demand for Infrastructure in and around Delhi NCR With investments
increasing in setting up of Cement (Grinding and Mixing) Plants in and
around Khurja. ARIK sees its utilization In inwarding of raw material
from various sectors and outwarding of finished product in times to
The terminal opens Itself to other commodities also which will be
critical to the growth of business In that region such as Iron 4 Steel,
Salt essential commodities etc.
Also, Arshiya Industrial & Distribution Hub limited, a fellow subsidiary
has got the approval of the Government for setting up of Inland
Container Depot (ICD) at Khurja, Uttar Pradesh. This development will
give a boost to the rail operations of the Company.
b. ) Free Trade and Warehousing Zones (FTWZ):
Over the last new decide India has been losing Investments to
neighbouring economies, which were being used by global corporations as
bases for feedering India, due to lack of comparable transaction
availablity In India.
With FTWZa developed by Arshlya, our country will be able to leverage
''Salt Infrastructure such as sidled manpower, cost competitiveness,
regulatory framework, IT connectivity, as will as ''Hard Infrastructure''
such as dedicated state-of-the-art mega logistics parks FTWZe, rail
connectivity, industrial & distribution hubs, transport and handing and
world been supply chain management services. FTWZ will be a game
changer for International as will as domestic companies which are
Importing, exporting or re-exporting products to and from India.
FTWZ provides assistance to various potential cllents for Import and
export, who struggle hard to recover taxes and duties paid while Import
of the Inputs and other merchandise. They face the burden of spending
heavy amounts towards recovery expenses apart Item the time consumption
or have to forego the duties paid because of lack of provisions.
Through FTWZ they reduce their cost burden because of available special
provision a In Law.
The first FTWZ developed by Arahlya In Maharashtra near MumbelflPanvel
la a credential for FTWZ concept In India. With over 500 customer been
domestic as well as international, India can be proud of providing a
successful unified supply chain concept in the country.
Arshlya Northern FTWZ Limited (ANFL), a subsidiary has developed a from
at Khruija, Uttar Pradesh, to eater to the needs of Northern India. The
starts of the and railway siding, rail connectivity and tCD at Khurja
will further reduce the ovarall logistics cost between gateway ports and
Being a pioneer In FTWZ business In India, Arshiya FTWZ b facing a few
regulatory challenges which have been taken up at the highest level with
concerned Government authorities and the authorities are appreciative
of the Issues and your Management hopes to get all of the issues sorted
out el the earliest.
c.) Industrial and Distribution Hub:
During the year under review Arahlya Industrial * Distribution Hub
Limited, a subsidiary has got the approval of the Government for
setting up of Inland Container Depot (ICD) at Khurja, Uttar Pradesh.
This approval la a booster for the affairs of the Company and group as
e whole because of Us impact of integrating Rail, forward and ICO
operations at Khurja.
d) Supply Chain Management
Arshlya Supply Chain Management Private Limited ie a FTWZ Service Unit
at Arshlya FTWZ, Panvel. The main activities of the company is serving
Indian and foreign relevant and carry out optimisation services as per
II.) Subsidiaries and Associates
Your Company has 12 subsidiary companies, Including 1 Material
Subsidiary and 3 step dawn Subsidiaries as on 31.03.2015.
During the year, the Board of Directors reviewed the affairs of the
subsidiaries. In accordance with section 128(3) of the Companies Act,
2013, we have prepared consolidated financial statements of the Company
and all Its subsidaries, which form part of the Annual Report. Further
a statement containing salient features of the financial statement of
our subskSaries in the prescribed format AOC-1 ie appended as
Annexure-J to this Report The Statement also provides the details of
performance, financial positions of each of the subsidiary.
In accordance with Section 136 of the Companies Act, 2013, the audited
financial statements. Including the consolidated financial statements
and related Information of the Company and audited accounts of each of
Its subsidiaries, are available on our website www.arehivalimited.oom.
These documents we also be available for inspection during business
hours at the Registered Office to Mumbai, India.
3. CORPORATE GOVERNANCE
Corporate Governance i.e an ethically driven business process that is
committed to values aimed at enhancing an organisation''s brand and
reputation. This Is ensured by taking ethical business decisions and
conducting business with a fern commitment to values, while meeting
stakeholders'' expectations. The Company has been forwarding the
principles of goad Corporate Governance over the years and lays strong
emphasis on transparency, accounts billy and Integrity. As per clause
49 of the Listing Agreement entered Into with BSE and NSE, a separate
section on Corporate Governance forms part of this Annual Report
I. ) Number of meetings of the board
The debris of the number of meetings of the Board held during the
financial year 2014-15 forms pert of the Corporate Governance Report.
The Interventing gap between any two meetings was within the period
presorted by Clause 49 of the Listing Agreement and the Companies Ad,
II. ) Committee* of the Board
Currently the Board have the Committees namely Committee of Directors,
Audit Committee, Nomination and Remuneration Committee, Share Transfer,
Investor Grievances & Stakeholders Relationship Committee and Risk
Management Committee. A detailed note on Board and Its committees Is
provided under the corporate governance section to this Annual Report-
III. ) Board Diversity
The Company recognises and embraces the Importance of a diverse board
In Its success. We believe that a truly diverse board wB leverage
difference in thought perspectives, knowledge, ski, regional and
industry experience, cultural and geographical back ground. The Board has
adopted the PnScy on Board Diversity which sales out the approach to
diversity of the Board of Directors and the same Is available on our
viberate http:MwwwterBhlvalrnlt8d.com/tove8torafCocpofat5 Governance.
IV.) Remuneration and Nomination Policy
The Board of Directors of the Company has an optimum combination of
Promoter Director and Non-Executive Independent Directors, who have to
depth knowledge of the business and Industry. The composition of the
Board la to conformity with the Listing Agreement with the Stock
Exchanges and Companies Ad, 2013.
The Board of Directors has framed a policy which lays down a framework
In relation to remuneration of Directors, Key Managerial Policy
Personnel end Senior Management of the Company. This Poky also lays
down criteria for selection and appointment of Board Members. The
policy Is attached as Annexure - 8 to this Report
v.) Declaration lay Independent directors
All Independent Directors have given declarations that they meet the
criteria of Independence as laid down under Section 149(6) of the
Companies Act, 2013 and Clause 49 of the Listing Agreement
vi.) Board evaluation
Pursuant to the provisions of the Companies Act 2013 and Clause 48 of
the Listing Agreement a structured questionnaire was prepared after
taking into consideration of the various aspects of the Board''s
functioning, composition of the Board and Its Committees, culture,
execution end performance of sped fie duties, obligations and
The evaluation of al the directors and the Board as a whole was
conducted based on the criteria and framework adopted by the Board. The
performance evaluation of the Chairmen and the non- Independent
Directors) was carted out by the Independent Directors. The Board of
Directors expressed their satisfaction with the evaluation process.
None of the Independent directors are due tor re- appointment
vii.) Programmes for familiarisation of Independent Directors
The details of programme for familiarisation of Independent Directors
with the Company, nature of the Industry in which the Company operates,
business modal of the Company and related matters are put up on the
website of the Company l.e.
viii.) Retirement by rotation
In accordance with the provisions of Section 152 of the Companies Act
2013 and the Company''s Articles of Association, Mrs. Archana A Mittal -
Joint Managing Director retire by rotation and being elligible, offer
herself for re-appointment al the ensuing Annual General Meeting.
Brief details of the Director proposed to be appointed/Re - appointed as
required under Clause 49 of the Listing Agreement is provided is the
notice of the Annual General Meeting and forms an Integral part of this
bL) Auditors* Certificate on Corporate Governance
A Certificate from a Practising Company Secretary confirming compllance
with the conditions of Corporate Governance under Clause 49 of the
Listing Agreement is attached as annexure to Corporate Governance
Report to this Report.
x.) Directors Responsibility Statement
To the best of knowledge and believe and according to the Information and
explanations obtained by them, your Directors make the following
statement In terms of Section 134(3Xc) of the Companies Act 2013:
a) in the preparation of the annual accounts for the year ended 31st
March, 2015, the applicable accounting standards have been followed
along with proper explanation relating to material departures. If any;
b) they have selected such accounting provides and applied them
consistently and made Judegments 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 loss of the
company for the year ended on that date;
c) the directors have taken proper and sufficient care for the
maintenance of adequate accounting records to accordance with the
provisions of the Companies Act 2913 for safeguarding the assets of the
company and for preventing and detecting fraud and other
d) the annual accounts have been prepared on e getting concern basis;
a) that the Directors had laid down Internal financial controls to be
followed by the Company and that such Internal financial controls are
adequate and were operating effectively and
1) that the Directors had devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems were
adequate and operating effectively.
4. AUDIT AND AUDITORS''
I.) Statutory Auditors
M/g M A Parikh & Co., Chartered Accountants, Mumbai, Statutory Auditors
of the Company, retires at the ensuing Annual General Meeting and are
ellgible for reappointment
Your directors recommend the appointment of Mrs. MA Parikh & Co.,
Chartered Accountants (Firm Registration No.: 107558W) as Statutory
Auditors of the Company, subject to approval of the members at the
ensuing Annual General Meeting. The Company has received letter from
M/6. M A Parikh 4 Co, Chartered Accountants, to the effect that their
appointment, If made, would be within the prescribed limits under
section 141 of the Companies Act 2013 and that they are not
disqualified for such appointment The necessary resolution seeking your
approval for appointment of Statutory Auditor has been Incorporated to
the Notice convening the Annual General Meeting.
II.) Cost Auditor
As per the requirement of Central Government and pursuant to Section
146 of the Companies act, 2013 read with the Companies (Coal Records
and Act) Rules, 2014 as amended from time to time, your Company has
been carrying out audit of coat records. The Board of Directors, on the
recommendation of Audi Committee, appointed M/s. Preshant Keetekar &
Accounting, Practicing Coat Accountants (Firm Registration No. 16076) as
Cost Auditors to audit the coat accounts of the Company for the
financial year 2014-16 at a remuneration of 7 40,000/- plus applicable
taxes and reimbursement of out of pocket expenses As required under
the Companies Act, 2013, a resolution seeking member''s approval for the
ratification of remuneration paid to the Coat Auditor forms part of the
Notice convening the Annual General Meeting.
II.) Secretarial Audit
Pursuant to the provisions of Section 204 of the Companies Ad, 2013 and
rules made thereunder, the Company has appointed Aabld & Co, Company
Secrete rise to undertake the Secretarial Audit of the Company. The
Secretarial Audit Report Is Included as Annexure-W to this Report.
There no Secretarial Audit qualification for the year under review.
Iv.) Significant and material orders passed by the regulators or courts
There are no significant and material orders passed by the
Regulators/Courts that would Imped the going concern status of the
Company and to future operations.
v.) Internal control systems and their adequacy
Your Company has an effective internal control end risk mitigation
system, which are constantly assessed and strengthened with new/
revised standard operating procedures. The Company''s internal control
system is commensurate with its size, scale and complexities of its
operations. The Internal and operational audit la entrusted to M/a S.
K. Sheth 4 Associates, a reputed firm of Chartered Accountants. The
main thrust of Internal audit Is to total end review controls, appraisal
of risks and business processes, besides bench marketing controls with
beat practices in the industry.
The Audit Committee actively reviews the adequacy and effectiveness of
the Internal control systems and suggests Improvements to strengthen
the same. The Company has a robust Management Information System, which
is an integral part of the control mechanism
The Audit Committee, Statutory Auditors end the Business Heads are
periodically apprised of the Internal audit findings and corrective
actions taken by the management are presented to the Audit Committee.
To maintain into objectivity and Independence, the Internal Audi
function reports to the Chairman of the Audit Committee.
vt.) Extract of Annual Return
The details forming part of the extract at Annual Return In Form MGT-9,
as required under Section 92 of the Companies Act, 2013 read with Rule
12 of the Companies (Management and Administration) Rules, 2014, is
included in this Report as Annxure- IV and form an integral part of
5. CORPORATE SOCIAL RESPONSIBILITY
Your Company sincerely believes that growth needs to be sustainable In
a socially relevant manner. Today''s business environment especially in
India therefore demands that corporates play a pivotal role in
shouldering social responsibility. Your Company i.e committed to the
endeavour In social responsIbWes for benefit of the community.
Under the Corporate Social Responsibility (CSR) initiative of the
Company ''Arshiya Cares'', your Company here pledged to join hands with
organizations who are working towards finding simple solutions to the
infrastructure problems that India faces. Following CSR Initiatives have
been undertaken by your Company In the social front
Emergency Fire Flatting Service: The Mumbai FTWZ at Sal Village, Panvel
has a 24x7 emergency fire fighting vehicle (Foam Tender) Inside the
zone managed by trained personnel. This service la supported by
dedicated Infrastructure which includes:
* File extinguishers and Signage (Fire safely plans)
* Celling based water sprinklers tor the stores and office space
Beam Detectors for Smoke and fire Detection
* fire Hydrant System with hose reek and underground water storage
* Emergency Fire axil doors and staircases
* Building Management System with Monitoring and
1 Public address systems to provide emergency response
The above facilities are available 24x7 to the residents In the vidnity
of Sal Village and Panval area, free of charge through a toll free
Emergency Ambulance Service:
The Mumbai FTWZ at Sal Village, Panval has a 24x7 emergency ambulance
service dedicated for residents for the vldnlty of Sal VSege and Panval
area. Stationed in the premise of the zone, it» equipped with expert
staff trained in Trauma treatment This service is available to the
local population free of charge through a to I free number.
Electricity Distribution Facility:
At the Mumbai FTWZ at Sal VMsge, Pa rival, your Company has created
additional capacity In Its electrical Infrastructure to enable supply
of electricity to the surrounding villages.
The Company has under taken above CSR activities on Its own and has not
developed and Implemented any Corporate Social Responsibility Policy as
required under Section 136 of the Companies Act, 2013, as the said
provWone are not applicable.
6. HUMAN RESOURCES
The Company takes pride In the commitment, competence end dedication
shown by Its employees in all areas of business.
The Company has a structured Induction process at all locations and
management development programs to upgrade skills of managers Objective
appraisal systems based on Key Result Areas (KRAs) are in place tor
senior management stall.
The Company la committed to nurturing, enhancing and retaining lop
talent through superior Learning and Organizational Development. This
Is a part of Corporate HR function and Is a critical pillar to support
the organization''s growth and Its sustainability In the long run.
Further statutory disclosures w.r.t Human Resources are as under
i.) As required by the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013, the Company has
formulated and implemented a policy on Sexual Harassment at workplace
with a mechanism of lodging com plaints. Its redressal Is placed on the
Intranet for the benefit of Its employees. During the year under
review, no complaints were reported to the Board.
II. ) None of the Managerial personnel Is being paid any remuneration
and hence the Information required under Section 197(12) of the
Companies Act. 2013 read with Companies (Appointment and Remuneration
of Managerial Personnel) Rules. 2014 is not relevant,
III. ) One person employed throughout the year, was In receipt of
remuneration of 760,00,000/- lacs per annum or more amounting to 7
62,56,771/- and three employees for the part of the year were in receipt
of remuneration of 7 5,00,000/- per month or more amounting lo
71.34,93,520/-. As on 31st March, 2015, the Company had 138 employees.
The above annexure is not being sent along with this Report to the
members of the company in line with provision of Section 136 of the
Companies Act, 2013. Members who are Interested In obtaining these
particulars may write to the Company at the Registered office of the
Company. The aforesaid annexure Is also available tor Inspection by
Members at the Registered Office of the Company, 21 days before the
ensuing Annual General Meeting and upto the date of Annual General
Meeting during the Business Hours on working days.
None of the employees listed In the said Annexure ta a relative of any
director of the Company. None of the employees hold (by himself or
along with his spouse and dependent children) more than two percent of
the equity shares of the Company.
7. MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis Report for the year under review, as
stipulated raider Clause 48 of the Listing Agreement with the Stock
Exchanges In India, Is presented In a separate section forming part of
the Annual Report
8. VIGIL MECHANISM/ WHISTLE BLOWER POLICY
The Vigil Mechanism of the Company, which also Incorporates a Whistle
Blower Policy in berms of the Listing Agreement to report genuine
concerns or grievances. The Vigil Mechanism/Whistle Blower Policy may
be accessed on the Company''s website i.e.
9. RISK MANAGEMENT
Your Company Is well aware of risks associated with Its business
operations and various projects under execution. Comprehensively risk
management system Is being put In place Involving classification of
risk, adoption of risk mitigation measures and a strong mechanism to
deal with potential risks and situation leading to rise of risks in an
Senior Professionals conversant with risk management systems have been
entrusted with the said task with a brief to Implement the risk
10. HEALTH, SAFETY AND ENVIRONMENT:
As a responsible corporate citizen, your Company lays considerable
emphasis on health, safety aspects of Its human capital, operations and
overs working conditions. Thus befog constantly aware of Its obligation
towards malntaWng and Improving the environment, all possible steps are
being taken to meet the toughest environmental standards on pollution,
effluents, etc. across various spheres of its business activities.
Arshlya''s Rail Infrastructure division especially plays a pivotal role
In the mitigation of poluUcn and reduction of fuel used for road travel
through is unique Rail solutions that It provides to corporations at
Your Company hoe Implemented several proactive measures towards
ensuring its logistics infrastructures especially the FTWZ in Mumbai and
Khurja, along with the Industrial and Distribution Hub which are
environment friendly. Faltering measures are being Implemented In
Mumbai FTWZ, which will be followed across locations:
* Development of green area: Re-plantation of trees in the FTWZ.
* Conservation of top sol by removing and storing It before the work.
The top soll was reused for developing the green areas
* Provision of storm water drainage system to allow ground water
* Sewage Treatment Plant- Water treated In these plants Is being
re-utilitzed for watering of the landscaping.
11. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE
EARN NOS AND OUTGO
The Information under Section 134(3Xm) of the Companies Act, 2013 reed
with Rule 6 of Company (Accounts) Rules, 2014 for the year ended March
31,2015 Is set out as under
Conservation of Energy. The operations of the company Involve low
energy consumption. Adequate measures have been Implemented to conserve
energy such as-
* Roof of the warehouses at our FTWZs and Industrial & Distribution Hubs
have been designed with MR2* standards with roof Insulation which gives
temperature variation of SOetyee with ambient temperature. A provision
of installation of solar panels has been made on the roofs to generate
* Orientation of the warehouse buildings has been done In such a way
that there Is less heat transmission resulting In saving of electricity
consumption by mMmlzJng heat lose in the HVAC system.
* Ridge ventilators are Installed at the roof of all WHs, whereby there
to no need of power run turbo ventilators, which saves the huge amount
* Cold rooms are having the beet quality Insulations In and floor so as
to ensure no leakage of cooing and thus emerging e lot of power. The
doors of the cold rooms have been Installed with air curtains so that
during operation, internal temperatures to maintained without any loss
* The central control room have been Installed with the control
panels which controls the temp of odd rooms and monitor automatically, so
to achieve the pro-set temparature requirement The chller units are also
* Office air conditioning system is having VRV unto, which adjust tire
power requirement as per tire required heat toed. The saves a lot of
* All peripheral and yard Hating Is having auto on and off system, set
with the timings, which saves lot of wasteful energy.
* The docking doors are placed to ensure the minimum run by the fork
Mb, which reduces large power required for re- charging.
Technology Absorption: Arshlya sincerely believes to utilising
technology to Improve productivity, efficiency and quality of Its
business operations and working environment
Foreign Exchange Earnings end Outgo:
* Foreign Exchange received - Rs. 7,73,50,314/-
* Foreign Exchange Incurred - 27,97228/-
12. STATUTORY INFORMATION
The Business Responsibility Reporting as required by Clause 55 of the
Listing Agreement with tile Stock Exchanges is not applicable to your
Company for the financial year ended March 31,2015.
Your Director wish to piece on record their appreciation for the
maintances, support and co-operation received from Government of India,
the State Governments and other Government agencies and departments,
Investors, bankers, financial Institutions and all other stakeholders.
Your Directors also wish to place on record their deep sense of
appreciation for the committed services by the executives, staff and
workers of the Company.
For and on behalf of the Board of Directors of
Ajay S Mittal
Chairman end Managing Director
Dated: 15th May, 2015