To: The Shareholders of Rajesh Malleables Ltd.
The Directors present herewith their Therty Annual Report to gather
with Audited Statement of Accounts of your Company for the period ended
31st March 2012
2012) (31st December,
Rs. (9 Months) Rs.
Revenue from 6,23,92,862 2,87,77,525
operations (Net of Excise Duty)
Other Income 55,925 17,775
Operating Profit (Loss) (before 1,29,89,354 (26,88,968)
Interest, Depreciation and Tax)
Interest 3,42,042 98,912
Depreciation (Net) - 3,47,351
Profit/(Loss) Before Exceptional 1,26,47,312 (31,35,231)
Items & Prior Period Expense
(Add)/: Prior Period (92,05,808) 220.127.116.113
(Add): Provision for Income -Tax - -
& Deferred Tax
Profit After Prior Period 34,41,504 92,89,502
Adjustments from continuing operations
Net profit for the year 34,41,504 92,89,502
Add: (Loss) brought forward (18,80,32,511) (19,73,22,013)
from Previous Year
Balance carried to Balance Sheet (18,45,91,007) (18,80,32,511)
During the year under review the company has made Net Profit of Rs.
34.42 lacs during the period of 15 months as against Rs. 92.89 lacs
during the period of 9 months. Your Directors are hopeful that the
performance will improve gradually in years to come.
With a view (i) to make consistency with Income tax Act, (ii) to avoid
complexity of two accounting years (iii) to avoid duplicity of work ,
your board has increased the period of financial year ending from 31st
December 2011 to 31st March 2012.
Your Directors regret their inability to recommend payment of dividend
in view of the performance in the year under review. OPERATIONS
Your Directors are pleased to inform you that on account of continuous
and sincere affords of the entire management team. The net worth of
the company became positive and the revival of the company is
During the year under review, the Company has not accepted any deposits
by invitation from public under Section 58-A of the Companies Act,
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The particulars regarding Conservation of Energy, Technology Absorption
and Foreign Exchange Earnings and Outgo pursu- ant to Section 217(1
)(e) of the Companies Act, 1956 read with the Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 is given
in Annexure I and forming part of this report.
PARTICULARS OF EMPLOYEES
There is no employee covered under Section 217 (2A) of the Companies
Shri Paresh H. Patel retires by rotation, and being eligible offer
himself for reappointment.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956 with respect to Directors'' Responsibilities Statement, it is
1) That in preparation of the accounts for the period ended 31st March,
2012, the applicable accounting standards have been followed;
2) That the Directors have selected such accounting policies and
applied them consistently and 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 or loss of the Company for the
year under review;
3) 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 safeguarding the assets of
the company and for preventing and detecting fraud and other
4) That the Directors have prepared the accounts for the period ended
31st March, 2012 on a going concern basis.
AUDITORS & AUDITORS'' REPORT
Mr. S. Mandawat & Co., Chartered Accountants, Ahmedabad, the Statutory
Auditors of the Company holds tfye office until the conclusion of the
ensuing Annual General Meeting. You are requested to re-appoint them
and fix their remuneration. The notes on the accounts referred to in
the Auditors'' Report are self explanatory and therefore do not call for
any further comments.
The corporate governance report along with auditor''s certificate
regarding compliance of the conditions of corporate gover- nance as
stipulated in clause 49 of the listing agreement with the stock
exchanges is attached herewith.
There is no subsidiary Company as on 31st March 2012 therefore the
statement relating to Subsidiary Company, pursuant to Section 212 of
the Companies Act, 1956 is not applicable during the year under review.
The Board of Directors place on record the appreciations for the
services rendered by its employees, Financial Institutions, Bankers and
other authorities and look forward to their continued support.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
ANUJ R MEHTA
Date: 10th August, 2012