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Asahi Infrastructure And Projects Directors Report, Asahi Infra Reports by Directors
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Asahi Infrastructure And Projects
BSE: 512535|ISIN: INE933C01036|SECTOR: Construction & Contracting - Housing
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Directors Report Year End : Mar '14    « Mar 12
Dear members,
 
 The Directors have great pleasure in submitting their 26th ANNUAL
 REPORT on the business & operations of the Company along with the
 Audited Balance Sheet and Profit And Loss Account, for the year ended
 31st March, 2014.
 
 1.  FINANCIAL RESULTS:
 
 Financial Results of the Company for the year under review along with
 the figures for previous year are as follows:
 
                                                       (Amount in Rs.)
 
 Consolidated
 
 PARTICULARS                             Year Ended     
                                               2014               2013
 
 Total Income                         101,18,70,126       61,58,32,473
 
 Depreciation                             73,07,845          55,66,957
 
 Profit before Taxation                   74,73,559        2,17,54,552
 
 Provision for Taxation                   22,33,035             52,152
 
 Appropriations      
 
 Profit After Tax                         52,40,524        2,17,02,400
 
 Standalone
 
 PARTICULARS                             Year Ended     
                                               2014               2013
 
 Total Income                         101,18,70,126       61,58,32,473
 
 Depreciation                             73,07,845          55,66,957
 
 Profit before Taxation                   97,88,422        2,29,22,935
 
 Provision for Taxation                   22,33,035             52,152
 
 Appropriations      
 
 Profit After Tax                         75,55,387        2,28,70,783
 
 2.  OPERATIONS:
 
 During the year Company''s net profit before tax decrease from Rs.
 2,29,22,935/- (Rupees Two Cr Twenty Nine Lac Twenty Two Thousand Nine
 Hundred Thirty Five Only) to Rs. 97,88,422/-(Rupees Ninety Seven
 Thousand Eighty Eight Thousand Four Hundred Twenty Two Only). Your
 Directors expects to achieve better performance in future and are
 taking maximum efforts to control the cost and optimize the results in
 the coming year.
 
 3.  EXPANSION PROGRAMMES:
 
 Good news for your company is that Presently your company has
 concentrating on use of precast priestess flow technology one this
 experiment / trial is successful, your company is planning to expand
 its activities on major housing Affordable Housing Project in Rajasthan
 state & nearly areas, like company is in negotiation with related
 parties who has got (6) Mega housing projects in Rajasthan costing Rs.
 300 Cores. Your company expect bright prospectus in coming time as
 newly elected govt. having full majority after 30 years, have
 concentrated on infrastructure sector. Not only this Ministry of Urban
 Development got allocation of Rs. 4000 /-crore in the current year
 budget to focus on especially affordable housing sector. Your company
 has got expertise in this segment since 26 years & now time has come to
 encasement its 25 years experience Due to this market conditions in
 affordable housing sector will boom up.
 
 The company has submitted EOI for skill development programmed under
 Rajasthan Skill and Livelihoods Development Corporation (Govt. of
 Rajasthan U/T), there by training of skill worker for 3000 students
 will be undertaken in next these years at Jhunjhunu, Sikar & Churu
 district Under this programmed company will train 5000 skilled workers
 in the field of masons / carpenter / plumber / electrician /bar binders
 which will give skilled hands to company as well can provide these
 skilled worker to other builders also.
 
 As we are aware that it is the mission of new Govt. to development
 skilled workers in country so that unskilled youth can get employment
 which will directory improve GDP of country.
 
 4.  FUTURE PROSPECTS:
 
 The robustness of the Indian Economy is reflected in the fact that
 despite challenging headwinds, the Euro zone crisis and a substantially
 weaker rupee, India GDP is expected to grow by about 6.5% in 2014-15.
 
 The Company''s is optimistic of growth through continued network
 expansion and innovation.
 
 5.  DIVIDEND:
 
 The Company has not declared any dividend during the year.
 
 6.  SHARE CAPITAL:
 
 There is no change in Authorized Capital and Issued Share Capital
 during the financial year.
 
 7.  FIXED DEPOSITS:
 
 During the year your Company has not accepted any deposits from the
 public.
 
 8.  DIRECTORS:
 
 During the year Mrs. Yasmin Khan Directors of the Company retire by
 rotation and being eligible has offered them for re-appointment. The
 members are therefore requested to re-appoint them in the forthcoming
 Annual General Meeting.
 
 9.  SUBSIDIARIES:
 
 The Company has set up a subsidiary unit in Dubai for general trading
 activities where profit margin and bottom-line is good. Statement
 pursuant to Section 212 is attached herewith.(Annexure I)
 
 10.  DIRECTORS RESPONSIBILITY STATEMENT:
 
 As required under Section 217 (2AA) of the Companies Act, 1956 the
 Board of Directors hereby confirms:
 
 i.  That in the preparation of the Annual Accounts, the applicable
 accounting standards have been followed along with the proper
 explanation relating to material departures.
 
 ii.  That the Directors have selected such accounting policies and
 applied them consistently and make 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 of the Company for that period.
 
 iii. That the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provision of this Act for safeguarding the assets of the Company and
 for preventing and detecting fraud and other irregularities.
 
 iv.  That the Directors have prepared the Annual accounts on a going
 concern basis.
 
 11.  CORPORATE GOVERNANCE:
 
 Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
 a Management Discussion and Analysis Statement, Corporate Governance
 Report, CEO, CFO and Auditors'' Certificate regarding compliance of
 conditions of Corporate Governance are made a part of the Annual
 Report.
 
 12.  STOCK EXCHANGE REQUIREMENTS:
 
 Being listed at the Bombay Stock Exchange Limited, Mumbai, your Company
 has paid listing fees till March, 2014.
 
 13.  AUDITORS:
 
 M/s B.M. Gattani & Co., Chartered Accountants, Mumbai, Statutory
 Auditors of your Company hold office until the conclusion of the
 forthcoming Annual General Meeting and have signified their willingness
 to be re-appointment and have further confirmed their re-appointment if
 shall be made shall be within the limits specified under Section 224
 (1B) of the Companies Act, 1956.
 
 14.  AUDITORS'' REPORT:
 
 The notes to Auditors'' Report are self explanatory and hence no
 explanation is required from the Board as such.
 
 15.  CONSERVATION OF ENERGY:
 
 Even though, the major activity of the Company does not involve high
 consumption of energy, your Company is making all efforts to optimize
 usage of energy.
 
 16.  TECHNOLOGY ABSORPTION:
 
 Your Company has not imported any technology, hence no details are
 given.
 
 The Company has designed and developed mechanical RC pilling machine
 which will reduce the piling labour cost by 60% with improved quality
 of construction and will help the reduction in project completion time.
 
 17.  PARTICULARS OF EMPLOYEES:
 
 In accordance with the provision of Section 217 of the Companies Act,
 1956, read with the Companies (Particulars of Employees) Amendment
 Rules 1999 as amended up to date, there were no employees during the
 whole or part of the year who were in receipt of remuneration in excess
 of limits as mentioned in the said section and hence no details are
 given as such.
 
 18.  ACKNOWLEDGEMENTS:
 
 Your Directors take this opportunity to place on record, gratitude for
 corporation and support received from their Banker, various departments
 and agencies of Central and State Government and dedication and
 commitment of the staff at all levels, without which the all-round
 growth and prosperity of the Company would not have been possible. Your
 Directors also appreciate the support provided by the several overseas
 and local customers to the Company''s marketing efforts and to the
 esteemed shareholders who have maintained confidence in the Company.
 
                                              By the Order of the Board
                              ASAHI INFRASTRUCTURE AND PROJECTS LIMITED
 
                                                                   Sd/-
                                                              L.J.RATHI
                                         (CHAIRMAN & MANAGING DIRECTOR)
 
 DATE: 16th Aug, 2014
 PLACE: AKOLA
Source : Dion Global Solutions Limited
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