The Directors have Pleasure in Presenting the Annual Report together
with audited statement of accounts for the year ended 31st March, 2012
Year ended Year ended
Sales & Other Income 88,962,453 53,999,030
Profit/(Loss) before Depreciation 2,823,797 1,112,182
Less: Depreciation 444,225 601,677
Exceptional Items 1,638,921
Profit/(Loss) after Depreciation 740,651 510,505
Less: Provision for Taxation 141,131 104,150
Profit/(Loss) after Taxation 599,520 406,355
Balance B/f from Previous Year (62,646,420) (63,052,775)
Deferred Tax (Liabilities)/Assets
Balance C/f to Balance Sheet (62,046,900) (62,646,420)
The directors do not recommend dividend for year ended 31.03.2012.
Shri Mahesh M Godiwala and Shri Jigar M Godiwala Directors retire at
the ensuring Annual General Meeting, and being eligible offers
themselves for re-appointment. The Board of directors recommend
re-appointrrjent of directors retiring by rotation. There is no other
change in constitution of Board of Directors during the year.
It is proposed to appoint Shri Manojbhai D patel as director of company
pursuant to notice received form share holder.
DIRECTOR S RESPONSIBILITY STATEMENT
Your Directors State:
i) that .in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanations
relating to material departure;
ii) that the Directors had selected such accounting policies and
applied them consistently and made judgments and estimates that ate
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 and the loss
of the Company for the period;
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 safeguarding the assets of
the Company and for preventing and detecting fraud and other
iv) That the Directors had prepared the annual accounts in a going
Your company has neither invited nor accepted any Fixed Deposits from
the public during the financial year under review.
CORPORATE GOVERNANCE ABD COMPLIANCE CERTIFICATE:
Corporate Governance and Management Discussion and Analysis Report are
set out as Annexure A and B respectively. A Certificate from the
Auditor of the Company certifying compliance conditions of Corporate
Governance as stipulated under Clause 49 of the Listing Agreement is
attached to this report.
LISTING AGREEMENTS REQUIREMENTS:
The securities of your company are traded and listed at Mumbai Stock
BUY-BACK OF SHARES
There was no buy-back of shares during the year under review.
PARTICULARS OF THE EMPLOYED:
None of the employees employed during the year was in receipt of
remuneration in excess of the Prescribed limit specified in section 217
(2A) of the Companies Act, 1956 Hence, furnishing of particulars under
the Companies ( Particulars of Employees) 1975 does not arise.
M/s M M S & Associates , Surat Auditors of the Company retire at the
ensuing Annual General Meeting. They have expressed their willingness
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The company is engaged in trading activity and the requisite
information with regard to the conservation of energy, technology
absorption (Disclosures of Particulars in the report of Board of
Directors) Rules is irrelevant/not applicable to the company during the
year under review, the same are not reported.
FOREIGN EXCHANGE EARNINGS AND OUTGO:
The foreign Exchange earning and out go during the year is as per note
no. 26 in financial statements.
The Board of Directors wish to place on record their appreciation for
the co-operation and support of the Company s Bankers, its valued
customers, employees and all other intermediaries concerned with the
company s business.
Your directors sincerely thank all members for supporting us during the
difficult days. We look forward to your continued support and
ritreratethat we are determined to ensure that the plans are
By order of Board of Directors
Kiran Syntex Limited
Place : Surat Mahesh M. Godiwala
Date : 24th August, 2012 Chairman and managing Director