Election 2014
SENSEX NIFTY
Shiva Global Agro Industries Directors Report, Shiva Global Reports by Directors
YOU ARE HERE > MONEYCONTROL > MARKETS > FERTILISERS > DIRECTORS REPORT - Shiva Global Agro Industries
Shiva Global Agro Industries
BSE: 530433|ISIN: INE960E01019|SECTOR: Fertilisers
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Apr 21, 12:09
17.45
-0.65 (-3.59%)
VOLUME 500
Shiva Global Agro Industries is not listed on NSE
Download Annual Report PDF Format 2013 | 2012 | 2011 | 2010
Directors Report Year End : Mar '13    Mar 12
The Directors are pleased to place before you the Twenty First Annual
 Report and the Audited Accounts of the company for the year ended March
 31, 2013.
 
 PERFORMANCE OF THE COMPANY
 
 Your company''s financial results are summarized hereunder:
 
 
 Particulars                     Consolidated            Standalone
 
                              2012-13     2011-12   2012-13      2011-12
 
 Income
 
 From Operations            51,806.86   39,853.63 10,614.51    11,149.64
 
 Other                         276.37      148.69     57.69        37.81
 
 Total                      52,083.23   40,002.32 10,672.20    11,187.46
 
 Profit
 
 Profit Before Interest,
 Depreciation and Taxation   2,837.98    2,818.34  1,013.82     1,124.03
 
 Less: Interest              1,676.53    1,646.98    635.29       574.27
 
 Depreciation                  255.80      243.79     95.53        88.51
 
 Profit Before Tax             905.65      927.58    283.00       461.25
 
 Less: Provision for Tax       305.79      292.82    101.93       143.50 
 
 (Including Deferred
 Tax and MAT Credit
 Entitlement)
 
 Profit After Tax              599.86      634.76    181.06       317.75
 
 Add: Surplus brought
 forward                     1,382.08    1,033.07    983.96       782.13
 
 Less: Transfer to Minority 
 Interest                      176.88      133.85      0.00         0.00
 
 Less: Adjustments on 
 
 account of change in holding   35.33       23.85      0.00         0.00
 
 Amount available for 
 appropriations              1,769.73    1,510.13  1,165.03     1,099.88
 
 Appropriations
 
 Proposed Dividend 
 (Including Dividend Tax)       55.82      110.91     55.82       110.91
 
 Transfer to General Reserve    17.07       17.13      5.00         5.00
 
 Surplus retained in the 
 Profit & Loss Account       1,696.84    1,382.08  1,104.20       983.96
 
 
 
 REVIEW OF OPERATIONS
 
 The year gone was beset with challenges. In terms of production as well
 as Sales volumes, the year under review has been sluggish for
 fertilizer segment. Erratic monsoon resulted in near to drought
 conditions in many states including the primary markets viz.
 Maharashtra, steep increase in P & K fertilizers prices due to
 weakening currency and carryover of inventories on the part of dealers,
 demand for Fertilizers did not pick up which in turn impacted
 profitability of the company for the year under review.
 
 On the other front rising demand for Indian edible oil favoured the
 company''s solvent segment resulting in increase in consolidated
 turnover of Rs.51806.86 Lacs as against previous year''s consolidated
 turnover of Rs.39853.63 Lacs.
 
 Weak economic environments, high inflation, regulatory uncertainly,
 delay in release of subsidy from the Government of India and high
 interest rates adversely impacted profits. Consolidated Profits after
 tax stood to Rs.599.86 Lacs as against previous year''s consolidated
 profits after tax of Rs.634.76 Lacs.
 
 Your company is confident of improving its existing level of
 performance which is expected to be supported by rational subsidy
 scheme from the government and favourable market conditions coupled
 with the fact that SSP is the cheapest fertilizer providing Phosphate
 to the farmers.
 
 SUBSIDIARY COMPANIES:
 
 i) Shiva Parvati Poultry Feed Private Limited:
 
 The Company (a 51% subsidiary) achieved a total turnover of
 Rs.13,982.40 Lacs and earned Rs.109.33 Lacs of Profits After Tax.
 
 ii) Ghatprabha Fertilizers Private Limited
 
 The Company (a 75% subsidiary) achieved a total turnover of Rs.7,174.47
 Lacs and earned Rs.105.70 Lacs of Profits After Tax.
 
 iii) Shrinivasa Agro Foods Private Limited
 
 The Company (a 51% subsidiary) achieved a total turnover of
 Rs.17,497.11 Lacs and earned Rs.181.84 Lacs of Profits After Tax.
 
 iv) Kirtiman Agrogenetics Limited
 
 The Company (a 64.50% subsidiary) achieved a total turnover of
 Rs.2,769.13 Lacs and earned Rs. 21.93 Lacs of Profits After Tax.
 
 CONSOLIDATED FINANCIAL RESULTS :
 
 Consolidated Financial Statements incorporating the operations of the
 Company and its subsidiaries is appended.
 
 As per Section 212 of the Companies Act, 1956, we are required to
 attach the Directors'' report, Balance Sheet, and Profit and Loss
 account of our subsidiaries. The Ministry of Corporate Affairs,
 Government of India vide its circular no. 2/2011 dated February 8, 2011
 has provided an exemption to companies from complying with Section 212,
 provided such companies publish the audited consolidated financial
 statements in the Annual Report. Accordingly, the Annual Report of
 2012-13 does not contain the financial statements of our subsidiaries.
 However, the Accounts of the Subsidiary Companies and the related
 information will be made available to the Members of Shiva Global Agro
 Industries Limited and its Subsidiary Companies on request and will
 also be kept for inspection at the Registered Office.
 
 SAFETY, HEALTH AND ENVIRONMENT (SHE):
 
 Company''s focus on Safety, Health and Environment continued during the
 year under review across all locations with all manufacturing plants
 maintaining high safety standards. The overall safety environment
 continued to improve during the year under review.
 
 DIVIDEND :
 
 Your Directors recommend a dividend @5% for the year ended 31st March,
 2013.
 
 FIXED DEPOSIT :
 
 Your company has accepted fixed deposits during the year and there are
 no unpaid/ overdue fixed deposits.
 
 DIRECTORS :
 
 Mr. Deepak Shyamsunder Maliwal and Mr.  Vijayprakash Onkarlal Agrawal,
 Directors of the company, retire by rotation and being eligible offer
 themselves for reappointment.
 
 AUDITORS :
 
 The auditors, M/s J. P. Falor & Co., Chartered Accountants, retire at
 the ensuing Annual General Meeting and have confirmed their eligibility
 and willingness to accept office, if re-appointed.
 
 COST AUDITORS
 
 In pursuance of Section 233B of the Companies Act, 1956 the Central
 Government has ordered Cost Audit for Fertilizers. Accordingly, Mr.
 Jayant B.  Galande, Cost Accountants, were appointed Cost Auditors to
 render reports to the Central Government. The Report for the year
 2011-12 was submitted on January 09, 2013 (due date February 15, 2013)
 and for the year 2012-13 the reports will be submitted on or before the
 due date.
 
 MANAGEMENT DISCUSSION & ANALYSIS :
 
 A report on Management Discussion and Analysis, which forms part of
 this Annual Report, inter-alia, deals with the operations as also
 current and future outlook of the company.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 The Board of Directors of Shiva Global Agro Industries Limited confirm
 that in the preparation of the statement of Profit & Loss for the year
 ended March 31,2013 and the Balance Sheet as at that date (financial
 statements) :
 
 - the applicable accounting standards issued by the Institute of
 Chartered Accountants of India have been followed
 
 - appropriate accounting policies have been selected and applied
 consistently and judgments and estimates that are reasonable and
 prudent have been made so as to give a true and fair view of the state
 of affairs of the Company as at the end of the financial year and of
 the profit of the Company for that period.
 
 - 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. To ensure
 this, the Company has established internal control systems, consistent
 with its size and nature of operations, subject to the inherent
 limitations that should be recognized in weighing the assurance
 provided by any such system of internal controls. These systems are
 reviewed and updated on an ongoing basis.  Periodic internal audits are
 conducted toprovide reasonable assurance of compliance with these
 ystems. The Audit Committee meets at regular intervals toreview the
 internal audit function.
 
 - Proper systems are in place to ensure compliance of all laws
 applicable to the Company.
 
 - The financial statements have been prepared on a going concern basis.
 
 CORPORATE GOVERNANCE
 
 Pursuant to clause 49 of the Listing Agreement with the Stock Exchange
 a separate section titled Report on Corporate Governance is attached
 to this Annual Report.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS & OUTGO
 
 The particulars as prescribed under Sub-section (l)(e) of Section 217
 of the Companies Act, 1956, read with the Companies (Disclosure of
 particulars in the report of the Board of Directors) Rules, 1988, are
 provided in the Annexure to the directors'' report section.  *-''
 
 PARTICULARS OF EMPLOYEES
 
 Information in accordance with the provisions of Section 217(2A) of the
 Companies Act., 1956 read with the Companies (Particulars of Employees)
 Rules, 1975, as amended is not presently applicable.
 
 ACKNOWLEDGEMENT
 
 The Directors acknowledge and would like to place on record the
 commitment and dedication on the part of the employees of your Company
 for their continued efforts in achieving good results, in an adverse
 situation.
 
 The Directors also wish to acknowledge and record their appreciation of
 the continued support and assistance received by the Company from Union
 Bank of India and other Banks, financial institutions, as well as from
 various Government bodies both at the Centre and the State.
 
 
 
                                            By the order of the Board
 
 
 
 Place : Nanded                                       Omprakash Gilda
 
 Dated : 30th May, 2013                             Managing Director
Source : Dion Global Solutions Limited
Quick Links for shivaglobalagroindustries
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.