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Kamron Laboratories Directors Report, Kamron Labs Reports by Directors
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Kamron Laboratories
BSE: 524604|SECTOR: Pharmaceuticals
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Directors Report Year End : Mar '13    « Mar 12
Dear Shareholders,
 
 The Directors present the TWENTY FIFTH ANNUAL REPORT together with the
 Audited Statement of Accounts for the Financial Year 2012-13 ended 31st
 March, 2013.
 
 
                                                           (Rs. in lacs)
 
 1.  FINANCIAL RESULTS :
 
 Particulars                                     2012-13        2011-12
 
 Profit before Interest, Depreciation & 
 Taxation                                         102.67          81.24
 
 Less : Interest                                   55.63          45.99
 
 Profit Before Depreciation & Taxation             47.04          35.25
 
 Less : Depreciation                               41.13          32.02
 
 Profit before tax                                  5.91           3.23
 
 Less : Provision for Taxtion                       1.10           0.97
 
 Profit after Tax                                   4.81           2.26
 
 Add : Opening Balance of Profit & Loss Account    82.03          79.77
 
 Balance carried to Balance Sheet                  86.84          82.03
 
 
 
 2.  DIVIDEND :
 
 In view of insufficient profits and with a view to conserve the
 resources for the working capital requirement, the Directors are unable
 to recommend any dividend on the Equity Shares for the year under
 review.
 
 3.  OPERATIONS :
 
 The Sales and Operating Income of the Company during the year under
 review have been increased to Rs. 1300 lacs compared to Rs. 1149 lacs
 during 2011-12. The Company has commenced vigorous efforts to increase
 sales in domestic as well as export markets. The management is hopeful
 of better results in the year 2013 14.
 
 The Company earned Profit before Interest and Depreciation of Rs.102.67
 lacs during the year under review compared to Rs. 81.24 lacs during
 2011-12. The Profit before Depreciation & Taxation for the year was Rs.
 47.04 lacs during the year under review compared to Rs. 35.25 lacs
 during 2011-12.  The Net Profit during the year under review was Rs.
 4.81 lacs compared to Net Profit of Rs. 2.26 lacs during 2011-12.
 
 4.  RESEARCH & DEVLELOPMENT :
 
 The Quality Control and R & D Department of your Company has shown
 satisfactory performance during the year under review.
 
 5.  DIRECTORS :
 
 5.1 One of your Director viz. Dr. S. L. Chopra retire by rotation in
 terms of the Articles of Association of the Company. He, however, being
 eligible offers himself for reappointment.
 
 5.2 The Board of Directors in their meeting held on 16th July, 2013 had
 appointed Dr. Atul N. Parikh and Mr. Haresh S. Parikh as Directors of
 the Company.
 
 5.3 One of the Director viz. Mr. Ram K. Khadka resigned from the
 Directorship of the Company w.e.f.  16th July, 2013.
 
 5.4 The Board of Directors in their meeting held on 16th July, 2013
 appointed Mr. Rohan K. Laskari and Mr. Sohan K. Laskari as Executive
 Directors of the Company for a period of 5 years w.e.f.  1st August,
 2013.
 
 6.  FINANCE:
 
 The Company is enjoying working capital facilities and term loan from
 Bank of Baroda. The Company is regular and payment of interest as well
 as principal.
 
 7.  REMUNERATION COMMITTEE:
 
 The Board of Directors have reconstituted Remuneration Committee
 consisting of the following:
 
 1.  Dr. S. L. Chopra Chairman
 
 2.  Dr. Mahendra P. Shah Member
 
 3.  Dr. Atul N. Parikh Member.
 
 8.  DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Pursuant to the requirement of Section 217 (2AA) of the Companies Act,
 1956, with respect to Directors'' Responsibility Statement, it is hereby
 confirmed:
 
 (i) that in the preparation of the annual accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departures;
 
 (ii) 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 31st March, 2013 being end of the
 Financial Year 2012- 13 and the Profits of the Company for the year;
 
 (iii) that the Directors had taken proper and sufficient care for
 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) that the Directors had prepared the annual accounts on a going
 concern basis.
 
 9.  DEMATERIALISATION OF EQUITY SHARES :
 
 The Company is in the process of making arrangement with both National
 Securities Depository Limited (NSDL) and Central Depository Services
 (India) Limited (CDSL).
 
 10.  PERSONNEL AND H. R. D. :
 
 The industrial relations continued to remain cordial and peaceful and
 your Company continued to give ever-increasing importance to training
 at all levels and other aspects of H. R. D.
 
 11.  CORPORATE GOVERNANCE :
 
 The Report on Corporate Governance as per Clause 49 of the Listing
 Agreement is annexed.
 
 12.  LISTING :
 
 The Equity Shares of the Company are listed on Ahmedabad, Mumbai and
 Delhi Stock Exchanges.
 
 13.  GENERAL :
 
 13.1 INSURANCE :
 
 The Company''s properties including building, plant and machinery,
 stocks, stores etc. continue to be adequately insured against risks
 such as fire, riot, strike, civil commotion, malicious damages,
 machinery breakdown etc.
 
 13.2 AUDITORS:
 
 The present Auditors of the Company M/s. Deepak Soni & Associates,
 Chartered Accountants, Ahmedabad will retire at the ensuing Annual
 General Meeting. They have submitted certificate for their eligibility
 for re appointment under Section 224(1-B) of the Companies Act, 1956.
 The notes and remarks of Auditors have been explained at the
 appropriate places in the notes to the accounts.
 
 13.3 PARTICULARS OF EMPLOYEES:
 
 None of the employees of the Company is drawing remuneration-requiring
 disclosure of information under Section 217(2-A) of the Companies Act,
 1956, read with the Companies (Particulars of Employees) Rules, 1975.
 
 13.4 DEPOSITS:
 
 At the end of the Financial Year under Report, no fixed deposit
 remained unclaimed by the deposit holder, which was due for repayment.
 
 14.  PARTICULARS AS REQUIRED UNDER COMPANIES (DISCLOSURE OF PARTICULARS
 IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988:
 
 A.  Conservation of energy :
 
 a) Energy conservation measures taken Nil
 
 b) Proposals for reduction of consumption of energy Nil
 
 c) Impact of the above measures Nil
 
 B.  Technology Absorption : Not applicable.
 
 15. ACKNOWLEDGMENT :
 
 Your Directors express their sincere thanks and appreciation to
 Promoters, Shareholders, Suppliers and Customers for their constant
 support and co operation.
 
 Your Directors also place on record their grateful appreciation and co
 operation received from Bank of Baroda and employees of the Company.
 
 
 
                                     For and on behalf of the Board,
 
 Place : Ahmedabad                                Kamlesh J. Laskari
 
 Date :16th July, 2013                  Chairman & Managing Director
Source : Dion Global Solutions Limited
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