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Lifeline Drugs & Pharma Directors Report, Lifeline Drugs Reports by Directors
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Lifeline Drugs & Pharma
BSE: 506113|ISIN: INE776N01028|SECTOR: Finance - Investments
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Download Annual Report PDF Format 2013 | 2012 | 2011 | 2010
Directors Report Year End : Mar '13    Mar 12
To The Members''
 
 The Directors have pleasure in presenting the 31st Annual Report of
 your Company together with the Audited Statements of Accounts for the
 year ended March 31'' 2013.
 
                                              (Rs.in Lacs)
 Financial Results                        Year Ended   Year Ended
                                          31.03.2013   31.03.2012
 
 Income                                      28.64          13.46
 
 Profit before Tax & extraordinary item      20.38           4.87
 
 Less : Provision for Taxation                6.30           1.64
 
 Profit after Tax                            14.08           3.22
 
 Add : Profit brought 
 forward from Previous Year                  91.00          87.78
 
 Add : Fund Transferred from General Reserves 5.00           0.00
 
 Less : Capitalization of Fund for Issue 
 of Bonus Equity Shares                     -96.00           0.00
 
 Balance carried forward                     14.08          91.00
 
 OVERVIEW OF ECONOMY
 
 According to the latest estimates'' Indian Economy grew by 5% in FY
 2013'' reflecting lower than expected growth in both industry and
 services sectors. Inflation also was at elevated levels. However with
 commodity and crude oil prices on the decline from the peak and with
 various policy initiatives coming through'' the Economy is estimated to
 grow by around 6% in FY2014 with lower Inflation.
 
 OVERALL PERFORMANCE & OUTLOOK
 
 The Business environment remains extremely challenging and the
 recessionary economic conditions leading to slowdown in demand and
 inflation pushed scale up of input costs left its adverse imprint on
 overall performance for 2012-2013.
 
 In spite of sluggishness in economy and lack of demand by consumers''
 Gross income from operations remained at Rs. 28.64 Lac in comparison to
 last years'' figure of Rs. 13.46 Lac. In term of Net Profit'' the same was
 of Rs. 14.08 Lac in comparison to last years'' net Profit of Rs. 3.22 Lac.
 The Growth in term of gross revenue was doubled whereas the Net Income
 was increased more than 3 fold during the year.
 
 The Company has not carried any business in its core business segment
 i.e. drugs & pharma trading.  Whatever revenue which was being
 generated during the year; was from Interest Income only.
 
 The company is willing or almost decided to change the line of business
 considering too competitive Pharmaceutical market'' continuous changes
 in Government Regulations as well as requirements of huge capital for
 marketing etc. Further'' your Directors are exploring other options for
 undertaking new activities in the future.
 
 DIVIDEND
 
 Due to inadequate profit during the year and because of
 non-availability of sufficient cash fund as well as conserve resources
 for future'' your Directors do not recommends any Dividend for the year
 under review.
 
 SUBSIDIARY COMPANY
 
 The Company does not have any subsidiary.
 
 MANAGEMENT DISCUSSION & ANALYSIS
 
 As required by Clause 49 of Listing Agreement'' the Management
 Discussion and Analysis is annexed and forms part of the Directors''
 Report.
 
 MANAGEMENT
 
 There was no change in Management of the Company during the year under
 review.
 
 DIRECTORS
 
 During the year'' Mr. Nikunj Kirti Kanakia'' Mr. Perar Krishna N Kamath''
 Mr. Prakash Ravishankar Raval and Mr. Narayan Anantrao Bhandarkar have
 resigned from the Board due to their personal commitments.  Your
 Directors wish to place on record their appreciation for the guidance
 and inputs provided by all above Directors during their tenure as
 Directors of your Company..
 
 In accordance with the requirements of the Companies Act'' 1956 and as
 per the provisions of Articles of Association of the Company'' Mr. Anil
 Sanklecha is liable to retire after conclusion of forthcoming Annual
 General Meeting and is eligible'' offers themselves for re-appointments
 in the forthcoming Annual General Meeting.
 
 Except Mr. Anil Sanklecha himself'' none other Directors are interested
 in their respective re-appointments.
 
 Further'' none of the Directors of the Company are disqualified under
 section 274(1)(g) of the Companies Act 1956.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to Section 217 (2AA) of the Companies (Amendment) Act'' 2000
 the Directors confirm that:
 
 1.  In the preparation of the annual accounts'' for the year ended 31st
 March 2013'' all the applicable accounting standards prescribed by the
 Institute of Chartered Accountants of India have been followed;
 
 2.  The Directors had adopted 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 the end of the financial year and of the profit of the
 Company for that period;
 
 3.  The Directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguarding the assets of the Company and
 for preventing and detecting fraud and other irregularities; and
 
 4.  The Directors had prepared the annual accounts on a going concern
 basis.
 
 STATUTORY INFORMATION
 
 The Company being basically in the business of Pharma products trading
 as well as doing the business of Commission Agent'' requirement''
 regarding and disclosures of Particulars of conservation of energy and
 technology absorption prescribed by the rule is not applicable to us.
 
 INFORMATION TECHNOLOGY
 
 Your Company believes that in addition to progressive thought'' it is
 imperative to invest in information and technology to ascertain future
 exposure and prepare for challenges. In its endeavor to obtain and
 deliver the best'' your Company has entered into alliances/tie-ups with
 an IT solution Company to harness and tap the latest and the best of
 technology in the world and deploy/absorb technology wherever feasible''
 relevant and appropriate.
 
 RESEARCH & DEVELOPMENT
 
 The Company believes that technological obsolescence is a reality. Only
 progressive research and development will help us to measure up to
 future challenges and opportunities. We invest in and encourage
 continuous innovation. During the year under review'' expenditure on
 research and development is not significant in relation to the nature
 size of operations of your Company.
 
 AUDITORS
 
 The Auditors M/s Rishikesh Mishra & Associates'' Chartered Accountants''
 Mumbai holds the office until the conclusion of ensuing Annual General
 Meeting. Your Company has received certificate from the Auditors u/s
 224(1B) of the Companies Act'' 1956 to the effect that their
 reappointment if made'' will be within the limit prescribed. The
 shareholders are requested to appoint Auditors and fix their
 remuneration.
 
 COMMENTS ON AUDITOR''S REPORT :
 
 The notes referred to in the Auditor''s Report are self explanatory and
 as such they do not call for any further explanation as required under
 section 217(3) of the Companies Act'' 1956.
 
 PARTICULARS OF EMPLOYEES
 
 People are the backbone of our operations. It is a matter of great
 satisfaction for our Company that our employees have been very
 supportive of the Company''s plan. By far the employee''s relations have
 been cordial throughout the year.
 
 The information as required by provisions of section 217(2A) of the
 Companies Act'' 1956 read with the companies (Particular of employees)
 amendments rules'' 1975 is reported to be NIL.
 
 PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT'' 1956
 
 The Company is having no business other than the business of trading of
 Pharma Products as well as doing the work of Commission Agents during
 the year under review and hence the information regarding conservation
 of energy'' Technology Absorption'' Adoption and innovation'' the
 information required under section 217(1)(e) of the Companies Act'' 1956
 read with the Companies (Disclosure of particulars in the Report of
 Board of Directors) Rules 1988'' is reported to be NIL.
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 The Company has not earned or used foreign exchange earnings/outgoings
 during the year under review.
 
 PUBLIC DEPOSITS
 
 During the year under review'' your Company has not accepted any
 deposits from the public within the meaning of section 58A of the
 Companies Act 1956 and the rules there under.
 
 REPORT ON CORPORATE GOVERNANCE
 
 The Company conforms to the norms of Corporate Governance as envisaged
 in the Companies Act'' 1956 and the Listing Agreement with the Bombay
 Stock Exchange Limited. Pursuant to Clause 49 of the Listing greement''
 a Report on the Corporate Governance and the Auditors Certificate on
 Corporate Governance are annexed to this report.
 
 APPRECIATION
 
 Your Directors wish to place on record their appreciation towards the
 contribution of all the employees of the Company and their gratitude to
 the Company''s valued customers'' bankers'' vendors and members for their
 continued support and confidence in the Company.
 
 Mumbai'' May 30'' 2013          By order of the Board
 
                               For LIFELINE DRUGS & PHARMA LIMITED
 
 Registered Office :
 
 Office No. 17'' 3rd 
 Floor'' Zaveri Bhavan''
 
 85/87'' Old Hanuman Lane'' Alok Kr. Behera
 
 Kalbadevi Rd'' Mumbai-400 002  Managing Director
Source : Dion Global Solutions Limited
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