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Pankaj Polymers
BSE: 531280|ISIN: INE698B01011|SECTOR: Packaging
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Download Annual Report PDF Format 2013 | 2012 | 2011 | 2010
Directors Report Year End : Mar '13    Mar 12
Dear Shareowners,
 
 The Directors are pleased to present herewith the 21st Annual Report
 on the business and operations of the Company and the Audited Accounts
 for the year ended 31st March 2013.
 
 1.  Financial Results and Operations
 
 The summarized financial results for the year ended 31st March 2013 as
 compared with the previous year are as under:
 
                                             Rs. In Lakhs.
 sl.  Particulars                     For the Year   For the Year
 No.                                  2012-13        2011-12
 
 a.  Sales                               3124.55     2956.78
 
 b.  Profit before Interest, 
     Depreciation & Tax                   183.95      168.61
 
 c.  Less: Interest                        80.18       74.08
 
 d.  Less: Depreciation                    80.03       75.01
 
 e.  Profit before Tax                     23.74       19.52
 
 f.  Less: Provision for Income Tax         4.66        3.85
 
 g.  Add: Deferred Tax                      1.62        3.93 
 
 h.  Less: MAT Credit Entitlement           0.97        3.84 
 
 i.  Net Profit                            21.67       15.57
 
 The Operational performance of the Company is discussed in detail under
 Management Analysis and Discussion Report.
 
 2.  Dividend
 
 Your Directors considered it prudent to conserve the resources of the
 Company to sustain its future growth and as such have not recommended
 any dividend for the year.
 
 3.  Fixed Deposits
 
 The Company has not accepted any fixed deposits from the public within
 the meaning of section 58A of the Companies Act, 1956.
 
 4.  Conservation of Energy, Technology Absorption, Foreign Exchange
 Earning and Outgo
 
 Particulars pursuant to the provisions of section 217(1)(e) of the
 Companies Act, 1956 read with the Companies (Disclosures of Particulars
 in the report of Board of Directors) Rules, 1988 are given in the
 Annexure - A.
 
 5.  Directors
 
 In accordance with the requirements of the Companies Act, 1956 and the
 Articles of Association of the Company Shri.Ishoo Narang and
 Shri.Baburam Goel, Directors retire by rotation and being eligible
 offer themselves for re- appointment.
 
 6.  Auditors
 
 The Statutory Auditors of the company M/s Luharuka & Associates,
 Chartered Accountants, Hyderabad (Firm No.  01882S) retire at the
 ensuing Annual General Meeting and are eligible for re-appointment.
 Your company has received intimation to the effect that, Proposed
 re-appointment, if made would be with in the Prescribed limit under
 Section 224(1B) of the Companies Act 1956 and also in compliance with
 the requirements of the Listing Agreement regarding Peer Review. They
 have confirmed their willingness to accept office, if re-appointed.
 
 The Board and Audit Committee recommend the re-appointment of
 M/s.Luharuka & Associates, Chartered Accountants as Statutory Auditors
 to hold office till conclusion of Next Annual General Meeting.
 
 7.  Particulars of Employees
 
 No employee in the organization was in receipt of remuneration, which
 requires disclosure under section 217(2A) of the Companies Act, 1956.
 
 9.  Director''s Responsibility Statement
 
 In accordance with sub-section (2AA) of section 217 of the Companies
 Act, 1956, the Directors of the Company state:
 
 a.  That in the preparation of the accounts for the financial year
 ended 31st March 2013, the applicable accounting standards have been
 followed along with proper explanation relating to material departures.
 
 b.  That the Directors have selected such accounting policies and
 applied them consistently and made judgments and estimates that were
 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 the year under review.
 
 c.  That the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act, 1956 for safe guarding the assets of
 the Company and for preventing and detecting fraud and other
 irregularities.
 
 d.  That the Directors have prepared the accounts for the financial
 year ended 31st March 2013 on a ''going concern basis''.
 
 10.  Corporate Governance
 
 A detailed report on Corporate Governance along with Auditors
 Certificate on Compliance with Corporate Governance forms part of this
 Annual Report.
 
 11.  Acknowledgements:
 
 Your Directors wish to express their appreciation for the cooperation
 and continued support received from the Industrial Development Bank of
 India, the Company''s Bankers. Your Director''s also take this
 opportunity to place on record their appreciation for the dedicated
 services rendered by the executives, managers, officers, employees and
 workers for the dedication and sense of commitment shown by the
 employees at all levels and their contribution towards the performance
 of the Company.
 
                                    By Order of the Board
 
                                    Sd/- 
 
 Place : Secunderabad               Baburam Goel 
 
 Date : 27.06.2013                  Chairman
Source : Dion Global Solutions Limited
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