The Directors'' present the Annual report on the business and
operations of your Company for the year 2011-2012.
FINANCIAL RESULTS AND OPERATIONAL REVIEW:
Particulars Year Ended Year Ended
Gross Sales/Income 40,88,91,706 203,863,398
Less Depreciation 88,94,078 4,072,630
Profit/(Loss) before Tax 3,69,74,526 16,719,565
Taxes/Deferred Taxes 99,13,075 5,732,004
Profit/(Loss) After Taxes 2,69,09,276 10,987,561
P& L Balance b/f 1,95,56,868 8,569,307
Profit/ (Loss) carried to Balance
Sheet 4,64,66,144 19,556,869
During the year under review the total income was Rs. 40,88,91,706 as
compared to Rs. 203,863,398 of that of the previous Year. The Company has
provided Rs. 88,94,078 for depreciation. After making all necessary
provisions for current year and after taking into account the current
year net profit and total provisions for taxation, the surplus carried
to Balance Sheet is Rs. 4,64,66,144.
Revenue from Operations:
PARTICULARS OF EMPLOYEES:
There is no employee having remuneration with the provisions of section
217(2A) of the companies Act 1956 read with the Companies (Particulars
of employee) Rules, 1975 as amended.
Mr. Shaileshbhai Shah & Mr. Rameshchandra Patel, Directors of the
Company, are liable to retire by rotation at the ensuing Annual General
Meeting and being eligible, offer themselves for re-appointment. Mr.
Dakshesh R. Shah, Managing directors of the company has been
reappointed with effect from 11th June, 2012. Mr. Samir Patel, Joint
Managing Directors of the company has been reappointed with effect from
11th June, 2012
As required u/s 217(2AA) of the Companies Act, 1956 your Director
confirms that in the preparation of the annual accounts.
The applicable accounting standards have been followed along with
proper explanation relating to material departures.
Such accounting policies have been selected and applied consistently
and reasonable and prudent judgments and estimates made, 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 profit/loss of the company for that
Proper and sufficient care has been taken for the maintenance of the
adequate accounting records in accordance with provisions of this act
for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities.
The annual accounts have been prepared on a going concern basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
As required under rule 3 of the companies (Disclosure of Particulars in
the report of Board of Directors) Rules 1998, the particulars relating
to the conservation of energy, Technology absorption complied and
details for it attached at the end of Director report.
foreign exchange earnings and outgo are also Nil.
APPOINTMENT OF AUDITORS:
M/s. J. B. Shah & Co, Chartered Accountants, the retiring auditors
being eligible offer themselves for re-appointment. Members are
requested to appoint them as auditors of the company.
MANAGEMENT DISCUSSION AND ANALYSIS:
Management discussion and analysis Report, pursuant to Clause 49 of the
Stock Exchange Listing agreement, forms part of this Report and the
same is annexed hereto.
CORPORATE SOCIAL RESPONSIBILITY
Every year 5th June is observed as the World Environment Day around the
world and is of immense importance for the Navkar Group. In the year
2011-12, one specific area which was related to our work.
Sustainability is a complex concept incorporating a wide range of
social, environmental and economic issues. We recognize the holistic
nature of a sustainable approach. As such, this commitment is as much
about our construction processes and business operations as it is about
our people, the communities where we work, our suppliers and partners
and the clients we work with.
This is our commitment to manage our construction activities, business
processes and supply chain safely and in ways that minimize adverse
environmental and social impacts.
This is a commitment to safeguard the health and safety of our
employees and neighbors'', to support the local economy and to treat
our staff fairly. It is about creating wealth for all our stakeholders,
embracing diversity, minimizing resource consumption and reducing our
greenhouse gas emissions.
However, we recognise that we will have to be innovative and draw on
our key strength - our motivated staff - in order to deliver the
lasting positive outcomes that are at the core of our commitment to
REPORT ON CORPORATE GOVERNANCE:
A separate Report on Corporate Governance along with Certificate from
Auditors on its compliance as annexed hereto.
Your Company is engaged in a single segment only.
The management is grateful to the government authorities, Bankers,
Vendors for their continued assistance and co-operation. The directors
also wish to place on record the confidence of members in the company.
For & on behalf of the Board of Director
Sd/- Sd/- Sd/-
Director Director Director