The Directors have pleasure in presenting 28th Annual Report and
Statement of accounts for the year ended 31st March 2012.
FINANCIAL RESULTS CURRENT YEAR PREVIOUS YEAR
TOTAL INCOME 702,200 721,200
Interest, Depreciation & Tax 584,110 616,985
Less : Interest - -
Gross Profit 584,110 616,985
Less : Depreciation 824 1,948
Profit/(Loss) before Taxation 583,286 615,037
Add/(less) : Taxation (64,352) 603
Net Profit/(Loss) after Taxation 518,934 615,640
YEAR IN RETROSPECT
The company has earned Net profit after Tax of Rs. 5.19 as compared to
net loss Rs. 6.16 lacs in the previous year.
Directors'' Responsibility Statement
Pursuant to the requirement under Section 217(2AA) of the Companies
(Amendment)Act, 2000 with respect to Directors'' Responsibilities
Statement, it is hereby confirmed:
(i) that the preparation of the annual accounts for the financial year
ended 31st March, 2012, the applicable accounting standards had been
followed along with proper explanation relating to material departures;
(ii) that the directors had 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 or loss of the Company for the year under review;
(iii) that the directors had 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 the directors had prepared the accounts for the financial
year ended 31st March, 2012 on a going concern basis.
Mr.K. Chandrasekhar who retires by rotation and being eligible, offers
himself for re- appointment.
The company has not accepted any deposit from the public during the
The company do not recommend dividend for the year.
The current Auditors M/s. Chaitanya C. Dalal & Company retire on the
conclusion of the ensuing Annual General Meeting and being eligible
have offered themselves for re- appointment.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO
As the company is a service company, no particulars have been given
regarding conservation of Energy and Technology Absorption.
Foreign Exchange earning and outgo during the year - Rs. Nil (Previous
Year Rs. Nil). PARTICULARS OF EMPLOYEES
Since the Company did not employ persons drawing remuneration in excess
of Rs. 500,000 per month or Rs. 60,00,000 per annum, the information
pursuant to section 217(2A) of the Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975 is not applicable.
CASH FLOW ANALYSIS
As per clause 32 of the Listing Agreement the cash flow statement has
been attached to the Balance Sheet as on 31st March 2012 and Statement
of Profit and Loss for the year ended 31st March, 2012.
Your directors wish to thank the company''s bankers and shareholders for
FOR AND ON BEHALF OF THE BOARD
SAGAR SYSTECH LTD.
MUKESH BABU DIRECTOR
Place : Mumbai
Date : 13th August 2012.