To The Members of Raghunath International Limited
The Directors have pleasure in presenting the Eighteenth Annual Report
of the Company together with the Audited Accounts of the Company for
the year ended March 31, 2012.
The highlights of the Financial Results are as under:
(Rupees in Lakhs)
PARTICULARS Year ended Year ended
Sales and Other Income (Gross) 52.86 75.55
Profit/(Loss) before Interest and 08.56 05.59
Less: Finance Charges (12.83) (14.19)
Less: Depreciation (06.58) (07.25)
Profit/(Loss) for the Year (10.85) (15.85)
Add/(Less): Extraordinary Items (02.16) (02.10)
Less: Fringe Benefit Tax Nil Nil
Add/Less: Provision for Income Tax (07.58) 00.05
Less: Provision for Wealth Tax (0.09) (0.09)
Add/(Less): Deferred Tax Assets/ 06.64 07.85
Net Profit/(Loss) for the Year (14.04) (10.14)
Add: Balance brought forward 137.76 147.89
Amount available for appropriation 123.72 137.76
Transfer to General Reserves Nil Nil
Surplus carried to the Balance Sheet 123.72 137.76
During the year under review, the Sales and Other Income of the Company
declined to Rs. 52.86 lacs as compared to 75.55 lacs in the previous
year. The Company has posted a loss of Rs. (14.04) lacs as against loss
of Rs. (10.14) lacs in the previous year. Net loss of the company
increased to Rs. (14.04) lacs in comparison to net loss of Rs. (10.14)
lacs in the previous year.
The Company will focus on real estate and allied business and will
formulate its strategies accordingly.
Since your Company has not made any profit, your Directors have not
recommended any dividend.
In accordance with the requirements of the Companies Act, 1956 and the
Articles of Association of the Company, Shri Manish Bhatia and Shiv
Prakash Trivedi are liable to retire by rotation and are eligible for
Mr. G.N. Choudhary is reappointed as Whole-time Director for the tenure
of five year, subject to the approval of the members of the Company at
ensuing Annual General Meeting of the Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirements under Section 217 (2AA) of the Companies
Act, 1956, with respect to the Directors'' Responsibility Statement, it
is hereby confirmed:
(i) That in the preparation of the annual accounts for the financial
year ended 31st March, 2012, the applicable accounting standards had
been followed and no material departure have been made from the same;
(ii) That the Directors had selected such accounting policies and
applied them consistently and made judgments 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 of the Company for the year under review;
(iii) That 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 safeguarding the assets of
the Company and for preventing and detecting fraud and other
(iv) That Director has prepared the annual accounts for the financial
year ended 31st March, 2012, on ''going concern'' basis.
DEMATERIALIZATION OF EQUITY SHARES
The Company''s equity shares are available for trading in the Depository
systems of both the National Securities Depository Limited (NSDL) and
the Central Depository Services (India) Limited (CDSL). The
International Securities Identification Number (ISIN) allotted by NSDL
and CDSL to the Company is INE753B01014. The Dematerialization status
of the Company as on March 31st, 2012 is as under:-
Particulars Nos. of Shares Percentage
NSDL 26,78,552 53.57%
CDSL 4,38, 368 08.77%
Physical Mode 18,83,280 37.66%
Total: 50,00,200 100.00
Your Company has successfully implemented the mandatory provisions of
Corporate Governance in accordance with the provisions of Clause 49 of
the Listing Agreement of the Stock Exchanges. Separate Reports on
Corporate Governance and Management Discussion & Analysis are included
in the Annual Report and Certificate dated May 30, 2012 of the Auditors
of your Company confirming the compliance of conditions of Corporate
Governance is also annexed thereto.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217(2A) of the Companies Act, 1956, read with
the Companies (Particulars of Employees) Rules, 1975 as amended
M/s. Kumar Piyush & Co. Chartered Accountants, the Statutory Auditors,
will retire at the conclusion of ensuing Annual General Meeting and
being eligible, offer themselves for re-appointment.
In respect of observation made by the Auditors in their Report, your
Directors wish to state that the respective notes to the accounts are
self-explanatory, and do not call for any further comments.
During the year under review, your Company had cordial and harmonious
relations at all levels of the Organization.
During the year under review, your Company has not accepted any fixed
deposits from the public within the meaning of Section 58A of the
Companies Act, 1956 and the Rules made there under.
There is no Subsidiary Company during the year under review.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS & OUTGO:
The information required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 is attached hereto as
Annexure-''A'' and forms part of the Directors'' Report.
The Directors acknowledge with gratitude, the co-operation and
assistance received from the Government, Banks, Authorities and other
Business Constituents. The Directors would also like to thank the
employees, shareholders, customers and suppliers for their continuous
support given by them to the Company and their confidence in the
For and on behalf of the Board
DIN NO. 02181290
(G. N. Choudhary)
Date : May 30, 2012