DUTRON POLYMERS LIMITED
The directors are delighted to present the report on your company''s
business and operations for the year ended March 31,2012.
OPERATING RESULTS AND BUSINESS
The performance of the Company during the year 2011-12 is summarised
(Rs.in Lacs) (Rs.in Lacs)
Profit before Depreciation &Taxation 285.51 302.20
Depreciation 131.55 119.41
Provision for Taxation 53.40 44.20
Net Profit after Tax 100.56 138.59
Profit Available for Appropriation 147.23 185.63
Proposed Dividend 72.00 72.00
Transfer to General Reserve 15.00 55.00
Your company''s sales turnover has reduced by 10.3%. Consistent
increase in prices of raw material through out the year, and major
foreign exchange rate fluctuations brought profitability further down
to Rs. 100.56 Lacs. CPVC pipes business however, has shown sales growth
compared to previous year.
During the year, several changes were made to enhance product quality-
embossing of brand name in the socket of PVC Pipes, and better
processing techniques for higher impact strength of Submersible Column
Pipes. Few automation measures in manufacturing plants were also taken
to reduce human interference. All these improvements were made in order
to have trouble free production process, and better product quality.
Your directors recommend a dividend @ 12% on 60,00,000 equity shares of
Rs. 10/- each for the year ended March 31, 2012 which will be free of tax
in the hands of share holders.
During the year, the Company has not accepted any deposits from the
public except deposits from directors & shareholder as at 31.03.2012
amounting to Rs. 7,16,15,967/-. The Company has filed a statement in lieu
of advertisement with the Registrar of Companies, Gujarat.
PARTICULARS AS PER SECTION 217(2A) OF THE COMPANIES ACT, 1956 READ WITH
THE COMPANIES (PARTICULARS OF EMPLOYEES) RULES, 1975
The Company has not paid any remuneration attracting the provisions of
section 217(2A) of the Companies Act, 1956 read with Companies
(Particulars of Employees) Rules, 197*5, as amended to date. Hence no
information is required to be appended to this report in this regard.
All the assets of the Company including inventories, building, plant &
machineries are adequately insured.
Persuant to Article 84 of the Articles of Association of the Company
read with section 256 of the Companies Act, 1956, Shri Alpeshbhai B.
Patel and Shri Prafulbhai G. Shah, Directors of the company, are due to
retire at the ensuing Annual General Meeting, and are eligible for
M/s. Baheti Bhadada & Associates, Chartered Accountants, Ahmedabad
retire at the conclusion of the forthcoming Annual General Meeting and
are eligible for reappointment. The Company has received letter from
them to the effect that their appointment, if made, would be within the
prescribed limits under Section 224(1 B) of the Companies Act.1956
DIRECTOR''S RESPONSIBILITY STATEMENT
As required under Section 217(2AA) which was introduced by the
Companies (Amendment) Act, 2000 your directors confirm that:
i In the preparation of the annual accounts, the applicable accounting
standards have been followed.
ii The Directors have selected such accounting policies and applied
them consistently and made judgement 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 or
loss of the Company for that period.
iii The Directors to the best of their knowledge and information, have
taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies
Act,1956 for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities.
iv The Directors have prepared the annual accounts on a going concern
v Corporate Governance
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange,
a separate section titled Corporate Governance is attached to
this Annual report.
INFORMATION PURSUANT TO SECTION 217(1)(e) OF THE COMPANIES ACT, 1956
Information as per clause (e) of sub-section (1) of section 217 of the
Companies Act, 1956, read with the Companies (Disclosure of Particulars
in the Report of Board of Directors) Rules, 1988 is given in the
Annexure forming part of this report.
OUTLOOK FOR THE CURRENT YEAR
As pipes market cater to India''s infrastructure sectors like
Agriculture, Government''s water supply schemes, and Building &
Construction; the growth of the company will largely depend on
country''s growth on these sectors. Better monsoon, higher government
spending, and good economical situation during the current year will
give growth of plastic pipes market in the country. With encouraging
signs from expansion of company''s distributor network, and few good
macro economic situations, your directors are confident to provide
company''s growth in the current year.
Your Directors would like to take this opportunity to express sincere
thanks to Company''s valued clients and customers for their continued
patronage. The Directors express their deep sense of appreciation of
all the employees for their commitment and initiative for Company''s
growth. Finally, the Directors wish to express their gratitude to the
Members for their trust and support.
By Order of the Board of Directors
Place : Ahmedabad S. B. PATEL
Date :31st May 2012 Chairman