The directors are pleased to present their Eighteenth Annual Report
and Audited Statement of Accounts for the year ended 31st March, 2012
1. Financial Performance (Rs.in Lacs)
Income 4,215.84 1,684.23
Expenditure 2,954.20 930.86
Earning before Tax 1,261.64 753.37
Provision for Tax 260.00 154.00
Provision for Deferred Tax 0.24 1.68
Income Tax Adjustments of earlier years (0.13) (4.27)
Earnings after Tax 1001.27 593.42
Balance Brought forward 2,210.84 1,617.41
Balance carried forward to Balance Sheet 3,212.11 2,210.84
*Previous year figures have been regrouped in view of the Revised
In order to conserve the financial resources of the company for future,
the Board of Directors do not recommend payment of any dividend.
In accordance with provisions of the Companies Act 1956 and the
Company''s Articles of the Association, Mr. Sachin N. Doshi who
retires by rotation and being eligible offers himself for
5. DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
the Directors confirm that:
a) in the preparation of the annual accounts, applicable accounting
standards have been followed.
b) the estimates are made so as to give true and fair view of the
statement of affairs of the Company at the end of the financial year.
c) the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
d) the Directors had prepared the annual accounts on a going concern
6. PARTICULARS OF EMPLOYEES
Information as per section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules,1975 as amended is not
applicable to your Company.
7. FIXED DEPOSITS
Your Company has not accepted any deposits from the Public during the
year under review.
The shareholders of the company are requested to re-appoint the
retiring Auditors M/s. M. A. Parekh & Associates, Chartered
Accountants, the retiring Auditors, who have furnished the requisite
certificate u/s 224(1B) of the Companies Act, 1956 and therefore
eligible for re-appointment as Auditors of the company.
9. CORPORATE GOVERNANCE
The report on Corporate Governance and the Auditors'' certificate on
compliance with the conditions of corporate governance under Clause 49
of the Listing Agreement is annexed to this report.
Your Director wish to place a record for their sincere appreciation and
thanks for the excellent co-operation and support received from the
Company''s Bankers, Business Associates, Suppliers, Consultant,
Customers, Contractors and Shareholders at large, and look forward the
same in a greater level in the ensuing years.
For and on behalf of the board of Directors
NAVINCHANDRA B. DOSHI
Place: Mumbai Date: 14th August, 2012