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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 '14    « Mar 13
The Shareholders,
 
 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,
 2014.
 
                                                        (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
 review.
 
 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.
 
 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. 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, 2014 being end of the
 Financial Year 2013 14 and the Profit of 0.78 lacs 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.
 
 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.
 
 12.2 AUDITORS:
 
 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.
 
 12.4 DEPOSITS:
 
 At the end of the Financial Year under Report, no fixed deposit
 remained unclaimed by the deposit holder, which was due for repayment.
 
 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
 conduct''
 
 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
 
Source : Dion Global Solutions Limited
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