SENSEX NIFTY
Shree Rama Newsprint Directors Report, Shree Rama News Reports by Directors
YOU ARE HERE > MONEYCONTROL > MARKETS > PAPER > DIRECTORS REPORT - Shree Rama Newsprint
Shree Rama Newsprint
BSE: 500356|NSE: RAMANEWS|ISIN: INE278B01020|SECTOR: Paper
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
, 16:01
7.72
0.03 (0.39%)
VOLUME 5,289
LIVE
NSE
, 16:01
7.75
0
VOLUME 7,147
Download Annual Report PDF Format 2014 | 2013 | 2012 | 2011 | 2010
Directors Report Year End : Mar '13    « Mar 12
To The Members of SHREE RAMA NEWSPRINT LIMITED
 
 Pursuant to the shareholders resolution in the Extra-ordinary General
 Meeting of the Company held on 30th March 2013, and the subsequent
 approval of Central Government, the name of the Company was changed
 from ''Rama Newsprint and Papers Limited'' to ''Shree Rama Newsprint
 Limited''.
 
 Your Directors are pleased to present the 22nd Annual Report and the
 Audited Accounts for the Financial Year ended 31s1 March 2013.
 
 FINANCIAL RESULTS
 
                                                  (Rs.in lacs)
 
                                       Year ended   Year ended
                                       31.03.2013   31.03.2012
 
 Revenue from operations                 38283.45     35088.62 
 
 Profit/ (Loss) before Interest.
 
 Depreciation and Tax                      363.44       449.28
 
 Finance Cost                             4865.45      5246.02
 
 Profit / (Loss) before Depreciation
 
 and Tax                                 (4502.01)    (4796.74)
 
 Depreciation                             3472.66      3465.56
 
 Profit/(Loss) before Tax                (7974.67)    (8262.30)
 
 Deferred Tax / (Credit)                 (2305.69)    (2709.62) 
 
 Net Profit/ (Loss) from
 ordinary activities                     (5668.98)    (5552.68)
 
 PERFORMANCE DURING 2012-13
 
 During the year under review the Company improved its capacity
 utilization to 90% as against 88% during the year 2011-12. The sales
 volume also improved by about 5% over the previous year.  However,
 there was no significant improvement in the profitability.  The market
 scenario of Newsprint continued to remain sluggish during the year. In
 order to reduce its dependence on Newsprint, the Company has decided to
 produce some quantity of Writing & Printing grades of paper from time
 to time.
 
 With a view to improve the operating efficiency, the Company has taken
 up certain Capex projects of about Rs. 20 crores. It would not only help
 improve the efficiency of the plant and quality of the finished product
 but will also help reduce the fibre cost.  During the year the Company
 availed new Term loan of about Rs. 50 crores for financing the said Capex
 projects and also to reduce the working capital deficit.
 
 To infuse fresh funds, the Company has entered into agreements for sale
 of 170 acres of its unused land, subject to requisite approvals. This
 would significantly ease the liquidity crunch being faced by the
 Company.
 
 The year 2013-14 has begun with a positive note with the selling prices
 of Newsprint having witnessed a significant increase in April-June 2013
 quarter. As a result of the improved liquidity and operating efficiency
 of the plant, the Company expects to report a much better performance
 during 2013-14.
 
 CORPORATE SOCIAL RESPONSIBILITY
 
 The Company is conscious about its social responsibilities towards the
 public living within the vicinity of its Mills. The Company continues
 to impart regular health check facilities for the community in the
 nearby villages and distribute free medicines to the needy, apart from
 supplying free Drinking Water on a regular basis to the nearby
 villages.
 
 The Company has opened a modern English Medium School to impart quality
 education to the students in the vicinity. In addition, the Company
 also undertakes various community welfare jobs as and when needed.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217 (2AA) OF
 THE COMPANIES ACT, 1956
 
 The Directors hereby confirm that:
 
 1.  In the preparation of the annual accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departures;
 
 2.  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 /
 (loss) of the company for that period;
 
 3.  Proper and sufficient care has been taken 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 irregularities;
 
 4.  The annual accounts have been prepared on a going concern basis.
 
 PUBLIC DEPOSITS
 
 The Company has not accepted any deposits from public during the year
 under review.
 
 LISTING OF SHARES
 
 Equity Shares of Company continue to be listed on Bombay Stock Exchange
 Ltd. (BSE) and National Stock Exchange of India Ltd. (NSE). The Company
 has duly paid listing fees to the stock exchanges.
 
 DIRECTORS
 
 Shri Virendraa Bangur, Shri K. L. Chandak & Shri Shree Kumar Bangur are
 retiring by rotation at the ensuing Annual General Meeting and, being
 eligible, have offered themselves for re- appointment.
 
 The Board of Directors appointed Shri Narayan Atal as an Additional
 Independent Director w.e.f. 06.11.2012 who will hold this position till
 the date of ensuing Annual General Meeting.
 
 ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Particulars with respect to Conservation of Energy, Technology
 Absorption, Foreign Exchange Earnings and Outgo as required under
 Section 217(1) (e) of the Companies Act, 1956 read with Companies
 (Disclosure of Particulars in the Report of Board of Directors) Rules,
 1988 are furnished as Annexure - I to this Report and forms part of it.
 
 CORPORATEGOVERNANCE&MANAGEMENT DISCUSSION & ANALYSIS
 
 Report on Corporate Governance is made part of this Annual Report as
 Annexure - II and Management Discussion and Analysis Report as Annexure
 - III.
 
 As required by the Listing Agreements, the Certificate of Auditors on
 Corporate Governance compliance is also annexed to this Annual Report.
 
 The Certificate from CEO/CFO was placed before the Board of Directors
 at the meeting held on 29th May 2013.
 
 PARTICULARS OF EMPLOYEES
 
 During the year under review no employee has drawn remuneration in
 excess of the limits specified under Section 217(2A) of the Companies
 Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 as
 amended to date.
 
 CASH FLOW STATEMENT
 
 As required under clause 32 of the listing agreement with the Stock
 Exchanges, the Cash Flow Statement is attached to the Balance Sheet.
 
 AUDITORS
 
 The present Auditors of your Company, M/s. Haribhakti & Co..  Chartered
 Accountants hold office until the conclusion of this Annual General
 Meeting and being eligible, offer themselves for re-appointment.
 
 The Board has taken note of the qualification made by the Auditors in
 their report regarding the Company having recognized
 
 Deferred Tax Asset (DTA) in the absence of convincing evidences to
 support virtual certainty about the future taxable income. However, as
 explained in the Notes to Accounts, the Board is of a strong opinion
 that in view of the improved market scenario and the infusion of fresh
 funds, the Company will have sufficient future taxable profits.
 
 The other observations of the Auditors in their report read with the
 relevant Notes are self explanatory.
 
 COST AUDIT
 
 The cost accounting records maintained by the company are subject to
 audit by the qualified Cost Auditors. Your Company has appointed M/s.
 Nanty Shah and Associates, qualified Cost Accountant for conducting the
 audit of cost account records for the year ended 31st March 2013 and
 the Cost Audit report will be submitted to the Ministry of Corporate
 Affairs, Government of India in due course. The Cost Audit report for
 the year ended 31s1 March, 2012 was filed on 3rd January, 2013.
 
 INDUSTRIAL RELATIONS
 
 The industrial relations remained cordial throughout the year under
 review.
 
 ACKNOWLEDGEMENT
 
 The Directors wish to place on record their appreciation for the
 continued support and co-operation received from the Banks, Financial
 Institutions, Government Authorities, Share holders, Suppliers and
 Dealers. They also deeply appreciate the commitment and dedication of
 employees at all levels.
 
                                    By Order of the Board
 
 Place: Mumbai                      S. K. Bangur
 
 Date: 29th May, 2013               Chairman
Source : Dion Global Solutions Limited
Quick Links for shreeramanewsprint
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.