SENSEX NIFTY
Magna Industries and Exports Directors Report, Magna Ind Reports by Directors
YOU ARE HERE > MONEYCONTROL > MARKETS > PERSONAL CARE > DIRECTORS REPORT - Magna Industries and Exports
Magna Industries and Exports
BSE: 523872|ISIN: INE113F01012|SECTOR: Personal Care
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Jul 23, 11:20
2.53
-0.05 (-1.94%)
VOLUME 100
Magna Industries and Exports is not listed on NSE
Download Annual Report PDF Format 2011 | 2010
Directors Report Year End : Mar '13    « Mar 12
To, The Members of Magna Industries and Exports Limited
 
 The Directors have pleasure in presenting before you the 24th Annual
 Report of the Company together with the Audited Statement of Accounts
 for the financial year ended 31st March, 2013.
 
                                                      [Rs. In Lacs]
 
 PARTICULARS                        Year ended           Year ended
                               31st March, 2013    31st March, 2012
 
 Revenue from operations 
 and Other Income                  3,096.93            2683.02
 
 Profit/ (Loss) before 
 Interest, Depreciation 
 and Taxatio                          89.82              71.67
 
 Less: Finance Charges                 2.75               1.69
 
 Less: Depreciation                    5.64               2.69
 
 Profit /(Loss) before 
 Taxation                             81.43              67.28
 
 Less: Provision 
 for Taxation
 
 - Current Year Taxation              25.16              24.00
 
 - Deferred Tax                        0.10              (0.10)
 
 Net Profit (Loss) 
 after Taxation                        56.1              43.38
 
 Balance brought forward             106.35              62.97
 
 Balance Carried to 
 Balance Sheet                       162.45             106.35
 
 OPERATIONAL HIGHLIGHTS
 
 During the year under review, the Company achieved turnover of Rs.
 3,096.93 Lacs as against Rs.  2683.02 Lacs in previous year i.e.
 increase by Rs. 413.91 Lacs, as compared to the corresponding previous
 year. The Company earned Net Profit after Tax amounting to Rs. 56.10
 Lacs as against Net Profit after Tax amounting to Rs. 43.38 Lacs for
 the corresponding previous financial year.
 
 DIVIDEND
 
 The Board of Directors of the Company do not recommend dividend for the
 financial year ended 31st March, 2013.
 
 DIRECTORS
 
 Mr. Mohanlal Bhangar and Mr. Rajendra Mokashi, Directors of the Company
 retire by rotation at this Annual General Meeting and being eligible,
 offer themselves for re-appointment
 
 AUDITORS
 
 M/s. P. Bohra & Co., Chartered Accountants, Mumbai, Auditors of the
 Company retires at the conclusion of this Annual General Meeting. They
 are eligible for reappointment and indicated their willingness to act
 as an Auditor, if appointed and the appointment shall be in the limits
 prescribed under the provision of Section 224(1B) the Companies Act,
 1956.
 
 Auditors* Report:
 
 The observations of the auditors in their report are self-explanatory
 and therefore, in the opinion of the Directors, do not call for further
 comments.
 
 PARTICULARS OF EMPLOYEES
 
 The information required under sub-section (2A) of Section 217 of the
 Companies Act, 1956 read with Companies (Particulars of Employees)
 Rules, 1975 duly amended by the Companies (Particulars of Employees)
 Rules, 2011 for the year ended 31st March, 2013 is not applicable to the
 Company as none of the employees is drawing remuneration more than the
 limits presently specified under the said rules.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNING/OUTGO
 
 The operations of the company are not energy-intensive. However,
 adequate measures have been taken to reduce energy consumption by using
 energy efficient computers and equipments with the latest technologies.
 Your Company constantly evaluates new technologies and invests in them
 to make its infrastructure more energy-efficient
 
 PUBLIC DEPOSITS
 
 During the period under review, the Company did not accept deposits in
 terms of Section 58A of the Companies Act, 1956 and pursuant to the
 provision of the Non-Banking Financial Companies (Reserve Bank)
 Directions, 1997.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217(2AA)
 
 Your Directors hereby report that:
 
 (a) In the preparation of annual accounts, the applicable accounting
 standards have been followed;
 
 (b) Appropriate accounting policies have been selected and applied
 consistently and judgments and estimates made that are responsible and
 prudent so as to give true and fair view of the state of affairs of the
 Company at the end of the financial year ended 31st March 2013;
 
 (c) Proper and sufficient care has been taken 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 irregularities;
 
 (d) Annual accounts have been prepared on a going concern basis.
 
 Management''s Discussion and Analysis Report for the year under
 review, as stipulated under Clause 49 of the Listing Agreement with the
 Stock Exchange in India, is presented in a separate section forming
 part of the Annual Report
 
 CORPORATE GOVERNANCE AND COMPLIANCE
 
 The Company is committed to maintain the highest standards of Corporate
 Governance and adhere to the Corporate Governance requirements set out
 by SEBI. The Company has also implemented several best Corporate
 Governance practices as generally prevalent
 
 The Report on Corporate Governance as stipulated under Clause 49 of the
 Listing Agreement forms part of the Annual Report
 
 The requisite Certificate from the Statutory Auditors confirming
 compliance with the conditions of Corporate Governance as stipulated
 under the aforesaid Clause 49 is attached to this Report
 
 ACKNOWLEDGEMENT
 
 The Board of Directors takes the opportunity to thank the Bankers and
 Government for the Co- operations and support by them from time to time
 in the operation of the company during the year.  The Board also places
 on record its deep appreciation for the contribution made by the
 employees at all levels.
 
                                        For and On behalf of the 
 
                                        Board of Directors
 
 PLACE: MUMBAI                          SATISH BHANGAR
 
 DATE: 14/08/2013                       MANAGING DIRECTOR
Source : Dion Global Solutions Limited
Quick Links for magnaindustriesexports
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.