The Directors are pleased to present herewith the 18th Annual Report
together with the Audited statement of accounts for the year ended 31st
(Rs.. In Lakhs)
PRTICULARS AS AT 31.03.2012 AS AT 31.03.2011
Sales & Other Income 15230.78 14536.14
PBID 1329.48 1153.23
Interest 907.59 705.33
Depreciation 95.07 94.92
PBT 326.82 352.97
PAT 269.00 221.02
Your Directors do not recommend any dividend to conserve the resources
of the Company.
During year under review the company has not accepted any deposit
within the meaning of section 58A of the Companies''Act, 1956 read with
the Companies (Acceptance of Deposit) Rules, 1975 as amended.
Mr. Mahendra Kalwankar retires by rotation at ensuing Annual General
Meeting and being eligible, has offered himself for re-appointment.
STATEMENT OF DIRECTORS''RESPONSIBILITY:
Pursuant to the requirement of section 217(2AA) of the Companies Act,
1956, the Board of Directors hereby state that:
(a) in preparation of annual accounts, the applicable accounting
standard had been followed along with proper explanation relating to
(b) the directors had selected such accounting policies and applied
them consistently and made judgement 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 or
loss of the company for that period;
(c) the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and
for preventing and detecting frauds and other irregularities;
(d) the directors had prepared the annual accounts on a going concern
Pursuant to clause 49 of Listing Agreement, a Report on Corporate
Governance is given in Annexure A.
Pursuant to section 292A of the Companies Act, 1956, an Audit Committee
was constituted comprising the following Directors
NAME OF DIRECTORS Narmdeshwar R. Chaube Chairman
Mahendra Kalwankar Member
Dr. Vinod Goyel Member
The Auditors of the Company M/s. Milind Mehta & Co., Chartered
Accountants, retire at the forthcoming Annual General Meeting and are
eligible for re-appointment. The Audit Committee of the Board of
Directors have recommended that M/s. Milind Mehta & Co., Chartered
Accountants, be appointed as auditors to hold office until the
conclusion of the next Annual General Meeting. Company has received
confirmation that their appointment, if made will be within the limits
prescribed under section 224 (1B) of the Companies Act, 1956.
A PARTICULARS OF EMPLOYEES
Since the company does not have any employees drawing remuneration in
excess of Rs. 60,00,000 p.a. or Rs. 5,00,000 per month the information
required pursuant to provisions of section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules,
1975, as amended, have not been given.
B CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Additional information as required in terms of the provisions of
section 217(1) (e) of the Companies Act, 1956 read with the Companies
(Disclosure of particulars in the report of the Board of Directors)
Rule, 1988 in respect to above matters is given below:
C RESEARCH & DEVELOPMENT:
The Company has no specific Research and Development Department.
However, the Company is outsourcing the R&D work for the development of
new molecular and also has a in-house Quality Control Department to
check the quality of different products manufactured.
Your board of Director is grateful to the Company''s Shareholders,
Bankers, Government Authorities, Customers, Suppliers, Distributors,
and Business Associates for their continued and valued support. The
Directors also wish to place on record their appreciation to company''s
personnel at all levels for the contribution made by them towards the
working of your Company.
For and on behalf of the Board of Directors
DATE: 20th JULY'' 2012 ASHWIN KHEMKA
Chairman & Managing Director