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Mahavir Industries Directors Report, Mahavir Ind Reports by Directors
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Mahavir Industries
BSE: 531648|ISIN: INE987M01015|SECTOR: Electrodes/Graphite
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Directors Report Year End : Mar '13    « Mar 12
The Directors have pleasure in presenting the Twenty-Fifth Annual
 Report together with Audited Statements of Accounts for the year ended
 31st March, 2013.
 
 FINANCIAL RESULT:
 
 PARTICULARS                      AS AT 31/03/2013   AS AT 31/03/2012
                                 (In Rs.) (In Lacs) (In Rs.) (In Lacs)
 
 Sales                                   4339.52         2102.06
 
 Other Income                                  0           81.75
 
 Profit/(Loss) before Taxation             1.067            1.01
 
 Provision of Current Tax                   0.33               0
 
 Net Profit after Tax                       0.35            1.01
 
 Balance Carried to Balance Sheet           0.35            1.01
 
 DIVIDEND:
 
 Your directors do not recommend payment of dividend with a view to
 plough back the profits for future business expansion.
 
 REVIEW OF OPERATIONS:
 
 The turnover of the Company has increased to Rs. 4339.52 lacs during
 the current financial year as compared to Rs. 2102.06 lacs in the
 previous year, which registered an increase of 106%. The profit before
 interest, depreciation and tax has marginally improved from Rs. 1.01 in
 lacs in the year 2011-12 to Rs. 1.06 during the current year i.e. a
 growth of 5.39%. The future outlook of the Company''s business is dealt
 within the management discussion and analysis.
 
 COMPLIANCE OF CODE OF CORPORATE GOVERNANCE:
 
 Pursuant to Clause 49 of the Listing Agreement, a Report on Corporate
 Governance is given as Annexure ''A'' to this Report.
 
 FIXED DEPOSITS:
 
 The Company has not accepted any loans or deposits from the public in
 terms of Section 58A of the Companies Act, 1956 and Rules framed under
 the Companies (Acceptance of Deposits) Rules, 1975.
 
 RESEARCH AND DEVELOPMENT:
 
 The company doesn''t have any research & development activity to be
 carried out.
 
 DIRECTORS:
 
 During the year Mr. Raj Kumar have resigned from the Board of Directors
 of the Company w.e.f. 20/06/2012 and Mr. Girdhar Bansal resigned from
 the Board of Directors of the Company w.e.f. 21/06/2013 and same was
 accepted by the Board of Directors. Mr. Rajesh Sharma and Mr. Sanjeev
 Kumar were appointed as the Additional Directors of the company with
 effect from 21/06/2013 till ensuing Annual General Meeting.
 
 Mr. Rajesh Sharma and Mr. Sanjeev Kumar are being appointed as the
 Directors in the Annual General Meeting with the approval of the
 Members.
 
 AUDITORS:
 
 M/S. Nitin Mittal & Co, Chartered Accountant, the statutory auditors of
 the company till the next ensuing Annual General Meeting.
 
 INDUSTRIAL RELATONS:
 
 Your company is pleased to inform that the relations with employees
 including workmen at all levels continue to be warm and cordial.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 In terms of Sec 217 (2AA) of the Companies Act, 1956, your Directors
 hereby confirm
 
 1.  That in the preparation of the Annual Accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departure.
 
 2.  That the directors 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 at the end of the financial year and of the
 loss of the company for that period.
 
 3.  That 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.
 
 4.  That the directors had prepared the annual accounts on a going
 concern basis.
 
 COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
 DIRECTORS) RULES, 1988:
 
 Information in accordance with the provisions of Section 217(l)(e) of
 the Companies Act, 1956, read with Companies (Disclosure of particulars
 in the report of Board of Directors) Rules, 1988 regarding conservation
 of energy, technology absorption and foreign exchange earnings and
 outgo is given below:
 
 Our Company is committed to the conversation of the resources. There is
 no wastage of energy and the working groups formed by the company for
 this purpose, continuously monitor the consumption of various forms of
 energy and evaluate the option available for energy conservation.
 Investments will be made, when required, for any activity identified as
 a source for helping us to achieve further energy savings. The Company
 is not using any foreign technology.
 
 ACKNOWLEDGMENTS:
 
 The Board of Directors would like to record their appreciation of the
 continued support and co-operation received from the Government of
 India, Andhra Pradesh and the Financial Institutions. The Directors
 would also like to thank all the esteemed Customers, Dealers,
 Suppliers, and Auditors of the Company.
 
 The Directors also wish to place on record their sincere appreciation
 of the employees at all levels for their dedicated contribution towards
 the growth of the Company.
 
 FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
 
 FOR CROITRE INDUSTRIES LIMITED
 
 (MANAGING DIRECTOR)
 
 PLACE: Mumbai
 
 DATE: 0509/2013
Source : Dion Global Solutions Limited
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