The Directors have pleasure in presenting Twenty First Annual Report
on the business and operations with Audited Statement of Accounts for
the year ended 31st March, 2012.
FINANCIAL RESULTS (Rs. in Lacs)
Particulars 01/04/2011 01/04/2010
to 31/03/2012 to 31/03/2011
Turnover and Other Income 2746.20 3348.87
Profit/(Loss) before Interest and
Depreciation 55.40 41.98
Interest 13.78 0.93
Profit/(Loss) after Interest but
before Depreciation 41.62 41.04
Depreciation 28.66 29.83
Net Profit/(Loss) from Operation 12.96 11.21
During the year under review the company has achieved turnover of Rs.
2746.20 lacs as compared to Rs. 3348.87 lacs in the previous year. The
profit after tax stood at Rs. 12.96 lacs as compared to Rs. 11.21 lacs in
the previous year.
In view of the carry forward losses of the company, the Directors
regret their inability to recommend any dividend.
In accordance with provisions of Companies Act, 1956 and Company''s
Articles of Association Shri Anit Jain retire by rotation and is
eligible for reappointment.
Your Directors are please to report that during the year under review,
Shri Dharmprakash Shrivastav was co-opted as an Additional Director.
Shri Dharmprakash Shrivastav, hold office U/s 260 of the Companies Act''
1956, only upto conclusion of this Annual General Meeting and as such,
his candidature for directorship is being proposed at this Annual
Shri Ajay Kumar Dubey resigned from the Board with effect from 30th
June, 2012. The Board placed on record its deep sense of appreciation
for the valuable contribution made by Shri Ajay Kumar Dubey.
A separate section on Corporate Governance forming part of the
Director''s Report and the certificate from the Company''s Auditors
confirming the compliance of conditions on Corporate Governance as
stipulated in Clause 49 of the listing agreement is included in the
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies Act, 1956, your
Directors state as under:
(i) That in the preparation of Annual Accounts, the applicable
accounting standards have been followed and there has been no material
(ii) That the Directors have selected such accounting policies and
applied them consistently and made judgment 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 to the financial year and of the
loss of the Company for that period;
(iii) That the Directors have 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 prevention and detecting fraud and other irregularities to the best
of their knowledge and ability;
(iv) That the Directors have prepared the Annual Accounts on a going
M/s Kamal Nayan Singhal & Co., Statutory auditors of the company hold
office until the conclusion of the ensuing Annual General Meeting and
are recommended for re- appointment. The Company has received
certificate from Auditor to the effect that there appointment, if made,
would be within the prescribed limit under Section 224(1-B) of the
Companies Act, 1956.
The observations of the Auditors as referred to in the Auditors'' Report
are suitably explained in the Notes to the Accounts.
PARTICULARS OF EMPLOYEES
Particulars of employees as required under Section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules 1975 is not applicable as there is no employee coming under the
preview of Section 217(2A) of the Act.
The directors are happy to report that the company had harmonious
industrial relations at all levels of organisation. It will be the
endeavor of the company to continue to maintain good industrial
Your Directors would take this opportunity to place on record their
appreciation for the pains taking efforts made by the Officers, staff
and workers of the company. The directors also wish to express their
sincere appreciation to valued clients, bankers, Government Departments
and Shareholders for their continued support.
for and on behalf of the Board
Place: Indore (PRADEEP GANEDIWAL)
Dated: 01/09/2012 Managing Director