The directors are pleased to present the 18th Annual report of the
company together with audited accounts for the year ended 31st March,
(Rs. in Lacs)
Particulars Current Year Previous Year
Net Sales & Operating Revenues 48150.80 38313.39
Other Income 79.76 32.34
Total Income 48230.56 38345.73
Less: Total Expenditure 47675.30 37931.05
Profit Before Tax 555.26 414.68
Less: Tax Expenses 145.56 118.48
Less: Prior Period Adjustments 6.63 11.70
Profit for the year 403.07 284.50
FINANCIAL AND BUSINESS PERFORMANCE
A detailed analysis into the financial and operational performance for
the year under review is appearing under Management Discussion &
Analysis and Corporate Governance Report, which form part of this
BOARD OF DIRECTORS
Mr. Sunil Kumar Agarwal and Mr. Sachin Agarwal will retain by rotation
and being eligible offer them self for re-appointment.
Mr.Pavesh kumar Goel. Independent Directors, has resigned from the
board on 12.08.2011 creating a casual vacancy which was filled by the
appointment of Mr. Ramesh Chand Suruna on 50.05.2012.
The brief resume of the Directors who are to be appointed /
reappointed, the nature of their expertise in specific areas, names of
companies in which they hold directorships, committee memberships /
chairmanships, their shareholdings etc. are furnished in the Corpora
Governance Report of the Company.
Your directors recommend their appointment / reappointment at the
ensuing Annual General Meeting
The Board of Directors has recommended any dividend, Re. 0.50 per
equity share having face value of Rs. 10/- for the Financial Year
2011-2012. Which shall be paid. Upon approval of the shareholders, on
the total paid up capital of the company of Rs. 2340 lacs. Accordingly,
provisions of Rs. 117 lacs have been made in the accounts.
DIRECTOR''S RESPONSIBILITY STATEMENT
Pursuant to section 217(2AA) of the Companies Act, 1956, with respect
to the Directors'' Responsibility Statement, your Directors confirm:
i) That in the preparation of the Annual Account, the applicable
Accounting Standards have been followed.
ii) That the Directors have 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 ended 31st
March, 2012 and of the Profits of the Company for that year.
iii) That the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safe guarding the assets of
the Company and for preventing and detecting fraud and other
iv) That the Directors have been prepared the annual accounts on a
going concern basis.
During the period under review, the Company has not invited any fixed
deposits from the public in terms of provisions of Section 58-A of the
Companies Act, 1956 read with the Companies (Acceptance of Deposits)
M/s S. Singhal & Co., Chartered Accounts, E-127, Industrial Area,
Bhiwadi (Rajasthan), the Statutory Auditors of the Company, having
registration number 001526C with the ensuing Annual General Meeting
and being eligible, offer themselves for re-appointment as Statutory
Auditors of the Company. The Company has received a letter dated 30th
May, 2012, that their re-appointment, if made, would be within the limit
prescribed under section 224 (1B) of the Companies Act, 1956.
The observation of the Auditors together with Notes to the Accounts as
referred to in the Auditors'' Report are self-explanatory and therefore
do not call for any further comments from the Directors.
CORPORATE GOVERNANCE REPORT AND MANAGEMENT DISCUSSION AND ANALYSIS
Pursuant to Clause 49 of the Listing Agreement with the stock
exchanges, Management Discussion and Analysis, Corporate Governed Report
is attached as a part of the Annual Report. The Certificate from
Company Secretary in practice regarding compliance of conditions of
Corporate Governance is also annexed.
SUBSIDIARY COMPANY AND CONSOLIDATED RESULTS
Your Company is not having any subsidiary company hence disclosures
regarding subsidiaries and consolidated results as per Accounting
Standard AS-21 and AS-27 issued by the Institute of Chartered
Accountants of India and clause 32 of the Listing Agreement are not
PARTICULARS OF EMPLOYEES
No information as required under Section 217 (2A) of the Companies Act,
1956 read with Companies (Particulars of Employees) Rules, 1975 to be
furnished as none of the employees of the Company is in receipt of the
remuneration in excess of the limits prescribed therein.
CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY
ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
Additional information regarding conservation of energy, research &
development, technology absorption and foreign exchange earnings and
outgo, required under section 217 (I) (e) of the companies Act, 1956.
is given in Annexure forming part of this report.
Your directors expresses their appreciation for the co-operation and
support received from customers, clients, dealers, distributers,
franchisees, and business associates, vendors, shareholders, financial
institutions , banks, regulatory authorities, and the society for the
support at all levels. The Board deeply acknowledges the dedicated
efforts and contribution of the employees at all levels as with out
their focus , commitment and hard work.
By Order of the Board of Directors
KAMDHENU ISPAT LIMITED
Date: 30.05.2011 (Satish Kumar Agarwal) (Sunil Kumar Agarwal)
Chairman & Managing Director Whole time Director