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Lawreshwar Polymers Directors Report, Lawreshwar Poly Reports by Directors
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Lawreshwar Polymers
BSE: 532829|ISIN: INE976H01018|SECTOR: Leather Products
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Download Annual Report PDF Format 2013 | 2012 | 2011 | 2010
Directors Report Year End : Mar '13    Mar 12
All the Shareholders,
 
 The Directors have pleasure in presenting the Nineteenth Annual Report
 of the company together with the Audited financial accounts for the
 financial year ended on 31st March 2013.
 
 FINANCIAL RESULTS:
 
                                               (Rs. fin Lacs}
 
 Particulars                               2012-2013   2011-2012
                                          (Audited)   (Audited)
 
 Sales                                      6845.64    5280.4S
 
 Profit before Depreciation & Tax            324.72     277.53 
 
 Frofir. before Tax                           25.09     186.72 
 
 Provision for Tax (Current St Deferred Tax)  77.85      64.96
 
 Net Profit                                  137.24      21.75
 
 Appropriation 
 
 Dividend                                     NIL          NIL 
 
 Balance b/f from the previous year          563.18     441.43 
 
 Transferred to General Reserve               NIL          NIL 
 
 Transferred to Reserve & Surplus                      1563.13
 
 Operational Review
 
 Your Company has achieved turnover of Rs. 6645.64 Lacs as against Rs.
 5260.48 Lacs in the previous year. The Net Profit or the Company is Rs
 137.24 Lacs as against Rs. 121.75 Lacs in the previous year due to
 increase of turnover of the Company.
 
 Directors
 
 As per Article 107 and 108 of Article of Association of the Company
 Shri R a mesh Chand Agarwai and Shri Sidharth Stnghh Directors of the
 Company are liable to retire by rotation in the forthcoming Annuel
 General Meeting and Ijeing eligible, offerthemsekesfor reappointment.
 
 Appointment of Mr. G.S. Kandoi as regular Director [Independent Non
 Executive Director] on the Board of the Company from the d ate of this
 Annu a I General meeti ng
 
 Directors Responsibility Statement
 
 Pursuant to section 217 (2AA) of the Companies Act, 1956, your
 Directors hereby confirm that:
 
 a) in the preparation of Annual Accounts of the Company, the applicable
 Accounting Standards have been followed along with proper explanation
 relating to materiat departures from the sameh if there any.
 
 b) the Directors have selected such Accounting Policies and applied
 them consistenlly and made judgments and estimates that are reasonable
 and prudent so as to give a true & fair view of the state of affairs of
 the Company at the end of the financial yea r ended March 31, 2013 and
 of the Profit of the Compa ny for the yea r ended on that date.
 
 c) The Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies AcL 1956 for safeguarding Ihe assets of the
 company and for preventing and detecting fraud and other irregularity,
 
 d) The Directors have prepared the Annual Accounts of the Company on a
 going concern basis.
 
 PARTICULARS OF EMPLOYEES REQUIRED UNDER SECTION 217 i2A) OF THE
 COMPANIES ACT, 13S6
 
 None of the Employee of the Company has been paid such remuneration
 which attracts the provisions of Seel ion 217(2A) of the Companies Act,
 1956 read with the Companies (Particulars of Employees) Rules, 1975.
 hence requirement of disclosure under section 217(2A} of the Companies
 Act, 1956 read with the Companies (Particulars of Employees} Rules,
 1975 doesn''t arise.
 
 Auditor and Auditor''s Report
 
 Mte A. Bafna & Company, Chartered Accountants, Jaipur holds office
 untij the conclusion of the ensuing Annual General Meeting and being
 eligible and offer themselves for re-appointment. The Company has
 received a letter from the Au d itors to the effect l hat Iheir
 appoint ent, if made wo uid be with in the prescribed limit u/s 224 0
 B) of the Companies Act 1G and also that they are not otherwise
 disqualified within the meaning of section 226 (3) of the
 
 CompaniesAct, 1956r
 
 Notes on Accounts and significant Accounting Policies are self
 expFanatory hence not require any further
 
 clarification,
 
 Subsidiary
 
 The Company has sold its holding of its subsidiary Company [Swastik
 Polyblend Private Limited] in the State of New DeIhi as on 30.03,2013.
 
 Hence: The Company has no subsidiary company.
 
 Divlden
 
 To conserve the resources of the Company for its future growth, the
 Board of Directors oFthe Company are not recommending any dividend for
 Ihe financial year 2012-2013.
 
 Public Deposits
 
 During the year ended Ma rch 31 2013, your Company has not accepted a
 ny d eposi ts from the pu bl ic.
 
 Future Plans
 
 The co mpany has made a Contract for purchase of a Factory Land & Bui
 Iding mea su ri ng a bout 14325.00 Sq. Mtrs.  situated at Plot NO.SD41,
 RIICO Industrial Area, Kaladara, Tehsfl Chomu, District Jaipur,
 Amounting Rs. 3r25: Crores. The possession of Factory Land S Building
 is under process, soon after the possession; Company is to: planning to
 set up a manufacturing unit for its products to meet the demand and to
 enter in the new Market as well as easting Market so that stakeholders
 get benefitted.
 
 Management Discussion and Analysis
 
 A detailed review of operational performance and future outlook of the
 Company is given under the Management Discussion and Analysis Report
 which forms part of this Report.
 
 CONSERVATION OF E N ERGY. TECHNOI_QGY. FOREIGN EXCHANGE EARNINGS AND
 OUTGO
 
 Information m accordance with the provisions of section 217 {1} (e) of
 the Companies Act, 1956 read with the Companies (Disclosure of
 particulars in the Report of Board of Directors) Rules, 19BB are given
 in Annexure *B to this report.
 
 Ac knowledgment
 
 The Directors of your Company acknowledge a deep sense of gratitude for
 the continued support extended by Investors, Customers, Business
 Associates, Bankers and Vendors. Yours Directors piace on record their
 appreciation for the significant contribution made by the employees at
 all levels through their hard work and dedication.
 
 The Directors also thanks the various Government and Regulatory
 Authorities and last but not the Least the Shareholders Tor their
 patronage, support and faith in the company. The Board looks forward to
 their continued support in ihe years to come.
 
                                   By the order of the Board
 
                                   For Law reshwar Polymers Limited
 
 PLACE: Jaipur                    (Ramcsh Chand Agnrwal)
 
 DATED: 30.O8.2013                 Chairman
Source : Dion Global Solutions Limited
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