To The Members of Nirman Cements Limited
The hereby present the eleventh Annual Report of the company together
with the Audited Statements of Account for the year ended 31st March
The Financial and operational results of the company for the year under
review as compared to the previous year are furnished here under:-
Rs. In Lacs Rs. In Lacs
For the year for the year
Ended 31.03.12 ended 31.03.11
Turnover 141.99 182.56
Other Income 22.73 83.69
Profit before interest,Dep. Tax 32.78 90.21
Less: Interest 39.01 18.53
Depreciation 42.85 38.86
Income Tax & FBT 1.35 --
Profit for the year (-) 50.42 32.80
Add: Balance b/f from previous year (-) 47.12 (-) 79.93
Balance Carried to Balance Sheet (-) 97.54 (-) 47.12
Considering the overall performance of the company and the market
outlook for the coming year, your directors express their inability to
recommend any dividend.
REVIEW OF PERFORMANCE
The result of the current year has not been satisfactory due the
factors / details given below: -
1. Over supply cement position and weak sentiment in cement market.
2. Increase in cost of clinker and electricity.
3. Cut throat competition by large scale company.
The coming year may be emerging to be the bright as the central
Government as well as state government is focusing on the development
of the infrastructure that will in turn boost up the cement market.
Sri Sunil Kumar Khemka, Director whose office expires on the date of
ensuing Annual General meeting but has offered himself for
The company has not accepted any deposit from public during the year
DIRECTOR''S RESPONSIBILITY STATEMENT
Your directors would like to inform members that the audited accounts
containing the financial statements for the year 201-12 are in
conformity with requirements of the Companies Act and they believe that
the financial statement reflect fairly, the form and substance carried
out during the year, and reasonably present company''s financial
condition and result of the operations. These financial statements have
been audited by the statutory auditors, ALOK JAIN & CO., Chartered
Based on the same and as per section 217 (2AA) of the Companies Act,
1956 your Directors State:-
1. That in the preparation of the annual accounts, the applicable
accounting standards have been followed and no material departure has
been made from the same.
2. That your 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 of the financial year and of the
profit or loss of the company for that period.
3. That your 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 your company and
for preventing and detecting fraud and other irregularities.
4. That your directors have prepared the annual accounts on a going
CORPORATE GOVERNANCE REPORT
A separate report on Corporate Governance is annexed herewith
forming a part of Annual Report of the company in terms of compliance
of requirement of clause 49 of the Listing Agreement of stock exchange.
M/S ALOK JAIN & CO., Chartered Accountants retires at the forthcoming
Annual General Meeting and being eligible, offers themselves for
reappointment for the year 2012-13 which we recommend.
CASH FLOW STATEMENT
A cash flow statement for the period ended 31-03-2012 is annexed
herewith forming a part of Annual Report in compliance with the
requirement of clause 32 of the listing agreement of Stock Exchanges.
PARTICULARS OF EMPLOYEES
Pursuant to section 217 (2A) of the Companies Act, 1956 read with the
companies (Particulars of Employees) Rules 1975 as amended, particulars
of employees have not been given as no employee was in receipt of
remuneration exceeding the limits specified there under.
PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION,
FOREIGN EXCHANGE EARNINGS AND OUTGO.
The information required under section 217 (1) (e) of the Companies
Act, 1956 read with companies (Disclosure of particulars in the Reports
of the Board of Directors) Rules, 1988 with respect to energy
consumption is appended hereto and forms part of this report. The
company has neither earned nor spend foreign exchange during the year.
No new technology has been imported. Company has not undertaken any
research and development activities.
ANNEXURE TO DIRECTORS REPORT Power & Fuel Consumption
Amount (Rs.) AS PER ANNEXURE
Rate per Unit (Rs.)
Equity shares of the company are listed with Bombay Stock Exchange and
listing fees have been paid to above stock exchanges and trading of
shares has not been suspended anytime during the year under review.
Your Directors wish to place on record their appreciation of the
assistance and co-operation extended to the company by Commercial
Banks, Government of India, Shareholders and all others whose continued
support has been a source of strength to the company. Your Directors
also wish to place on records their appreciation for sincere
contribution and high level commitment of employees of all levels.
For and on behalf of the Board of Directors
Place: Patna (S.K.Khemka)
Date: 04.06.2012 Director