Kamron Laboratories Limited
The Directors present the 26th ANNUAL REPORT together with the Audited
Statement of Accounts for the Financial Year 2013 14 ended 31st March,
(Rs. in lacs)
1. FINANCIAL RESULTS :
Particulars 2013-14 2012-13
Profit before Interest, Depreciation & Taxation 103.72 102.67
Less : Interest 56.63 55.63
Profit Before Depreciation & Taxation 47.09 47.04
Less : Depreciation 45.96 41.13
Profit before tax 1.13 5.91
Less : Provision for Taxtion 0.35 1.10
Profit after Tax 0.78 4.81
Add : Opening Balance of Profit & Loss Account 86.84 82.03
Balance carried to Balance Sheet 87.62 86.84
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
3. OPERATIONS :
The Sales and Operating Income of the Company during the year under
review have been increased to Rs. 1346 lacs compared to Rs. 1250 lacs
during 2012-13. 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 2014 15. The Company earned Profit before
Interest and Depreciation of Rs.103.72 lacs during the year under
review compared to Rs. 102.67 lacs during 2012-13. The Profit before
Depreciation & Taxation for the year was Rs. 47.09 lacs during the year
under review compared to Rs. 47.04 lacs during 2012-13. The Net Profit
during the year under review was Rs. 0.78 lacs compared to Net Profit
of Rs. 4.81 lacs during 2012-13.
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 Ms. Ranak K. Lashkari retires by rotation at this Annual General
Meeting, being eligible offers herself for re-appointment.
5.2 Dr. Atul N. Parikh, Dr. Mahendra P. Shah, Mr. Haresh S. Parikh and
Dr. S. L. Chopra, being Independent Directors, are being appointed for
a term of 5 years as per provisions of the Companies Act, 2013.
5.3 Mr. Kamlesh J. Laskari has been reappointed as Managing Director of
The Company is enjoying working capital facilities and term loan from
Bank of Baroda. The Company is regular and payment of interest as well
7. 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
(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, 2014 being end of the
Financial Year 2013 14 and the Profit of 0.78 lacs of the Company for
(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
(iv) that the Directors had prepared the annual accounts on a going
8. 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).
9. 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.
10. MANAGEMENT DISCUSSION AND ANALYSIS AND CORPORATE GOVERNANCE :
As per clause 49 of the Listing Agreement, the Management Discussion
and Analysis Report and Report on Corporate Governance form part of
this Annual Report. A Certificate regarding compliance with the
conditions of Corporate Goverance as stipulated in clause 49 of the
Listing Agreement is also appended to the Annual Report.
11. LISTING :
The Equity Shares of the Company are listed on Ahmedabad Stock Exchange
Limited, BSE Limited and Delhi Stock Exchange Limited.
12. GENERAL :
12.1 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.
The present Auditors of the Company M/s. Deepak Soni & Associates,
Chartered Accounts, Ahmedabad will retire at the ensuing Annual General
Meeting and are eligible for reappointment. The Company has obtained
from them the written Certificate to the effect that their
reappointment as Auditors of the Company for the Financial Year
2014-15, if made, will be in accordance with in the provisions of
Section 139 and 141 of the Companies Act, 2013.
The remarks of auditor and notes on accounts are self explanatory
12.3 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.
At the end of the Financial Year under Report, no fixed deposit
remained unclaimed by the deposit holder, which was due for repayment.
B. Technology Absorption : Not applicable.
C. Foreign Exchange Earning/Outgo : During the year under review, the
Foreign Exchange expenditures
and Outgoings has been to the
extent of Rs. 4.03 Lacs
(Previous year Rs. NIL).
The Foreign exchange earnings
and are Rs. 3.26 Lacs (F.O B.)
(Previous year Rs.NIL)
14. CODE OF CONDUCT:
The Board of Directors has laid down a Code of Conduct applicable to
the Board of Directors and Senior Management. All the Board Members and
Senior Management personnel have affirmed compliance with the code of
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 : 29th July, 2014 Chairman & Managing Director