Your Directors, hereby present the 10th Annual Report together with the
Audited statement of account for the year ended on 31st March, 2002.
1) FINANCIAL RESULTS:
The financial Results for the year ended are as under
Particulars Year ended Year Ended
Sales and other Income 114.74 215.50
Profit/Loss before interest
depreciation and tax -19.36 -4.88
Interest 43,56 63.44
Depreciation 20.66 20.73
Profit/Loss before tax -83.58 89.05
Tax 0 0
Provision for arrears of Depreciation 0 -19.23
Profit/Loss after Tax Carried to Balance Sheet -83.58 -87.37
You Directors do not recommend any dividend for the year ended
3) PUBLIC DEPOSIT
The company has not accepted any deposit U/S 58-A of the Companies Act.
1956 during the year under report.
Shri Vikash Jain Director shall retire by rotation at the ensuing
annual general meeting and being eligible offers himself for
M/s. D. C. Parikh & Co. Chartered Accountants Auditors of the Company
retire at the ensuing annual general meeting and are eligible for
5) AUDITORS REPORT:
The observation of the auditors are explained wherever necessary, by
way of appropriate notes to the account except the followings:
6) Valuation of finished goods Inventory includes excise duty as per
the requirement of the Income tax Act.
7) DIRECTOR RESPONSIBILITY STATEMENT:
Your Board States that
(i) In the preparation of the annual accounts for the year ended on 31
st March 2002, the applicable accounting standards had been followed
and there had been no material departures from the said standards.
(ii) The Directors had selected such accounting policies and applied
them consistently and made judgements 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 31st March, 2002 and of the profits of the Company
for the year ended on that day
(iii) The Directors had taken proper and sufficient care for the
maintenance of adequate accounting statement 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
(iv) The Directors had prepared the annual accounts for the year ended
on 31st March, 2002 on a going concern basis.
(8) AUDIT COMMITTEE:
Yours board had formed Audit committee consisting of Mr N. T. Patel,
Mr. Vikas Jain, Directors and Mrs. Kamlesh Jain, Managing Director as
required U/S 292 A of the companies Act 1956.
(9) PARTICULARS OF EMPLOYEES:
Information in accordance with the provisions of section 217(2A)of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rule, 1975 as amended regarding employees is nil.
(10) PARTICULARS REGARDING CONSERVATION OF ENERGY/TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE INCOME AMD OUTGO:
Information in accordance with the provision of section 217 (IE) of the
Companies Act, 1956 read with the Companies (Disclosure of
Particulars)Rules,1988 is as per Annexure A.
Your Directors convey their deep sense of gratitude to the employees of
the company and the Companys Banker Bank of Baroda, and Suppliers of
By order of the Board
Smt. Kamlesh Jain
Place : 12, G. 1. D. C., Por Ramangamdi,
Dist, Baroda 391243.
Dated: 2nd September, 2002
ANNEXURE TO DIRECTORS REPORTS :
Statement of Particulars under the companies (Disclosure of particular
in the report of Board of Directors) Rule, 1998.
A. CONSERVATION OF ENERGY :
(a) energy conservation measures taken: NIL
(b) Additional investment and proposals, if any beeing implemented for
(C) ompact of the measures at
(a) and (b) adobe for reduction of energy consumption and consequent
inpact on the cost of production of goods : N.A.
(d) total energy consumption and energy consumption per unit of
production as per From A : N.A.
B. TECHNOLOGY ABSORPTION
(e) efforts made in technology absorption is given hereunder:
Research and Development (R & D)
1 Specific area in which R & D carried out by the company : NIL
2. Benefits derived as a result of thr above R & D : NIL
3. Future plan of action : NIL
4. Expenditure on R & D : NIL
(a) Capital : NIL
(b) Recurring : NIL
(c) Total : NIL
(d) Total R&D expenditure as a percentage of total turnover : Nil
TECHNOLOGY ABSORPATION, ADAPTATION AND INNOVATION
1. Efforts, in brief, made towards technology absorption, adaptation
and innovation.: NIL
2. Benefits derived as a results of the above efforts, e. G. Product
improvement, cost reduction, product development, import subsititution
etc. : NIL
3. In case of imported technology :
(a) Technology imported : NIL
(b) Year of import : NIL
(c) Has technology been fully absorbed? : NIL
(d) If not fully absorbed, areas Where this has no taken place, reasons
therefore and future plans of action : NIL
B. FOREIGN EXCHANGE EARNINGS AND OUTGO:
(f) activities relating to exports NIL
(g) total foreign exchange used NIL NIL
(h) total foreign exchange earned NIL NIL
By Order of the Board
Smt. Kamlesh Jain
Place : 12, G.I.D.C, For - Ramangamdi,
Dated 2nd September, 2002