The Directors take the privilege of presenting the 29th Annual Report
and Audited Accounts for the year ended 31st March 2012 to the members
of the Sunteck Family.
(Rs. In Lacs)
Particulars For the year ended on For the year ended on
31.03.2012 31.03.2011 31.03.2012 31.03.2011
Total Income 2663.83 1568.20 3063.99 3051.92
Total Expenditure 558.443 675.29 1351.63 1700.34
Depreciation 35.74 29.54 147.66 147.28
Interest 474.01 0.93 437.06 343.72
Profit Before Tax 1595.63 862.44 1100.64 860.57
Provision for Tax
& Deferred Tax 412.59 242.68 646.49 524.22
Profit After Tax 1183.04 619.76 454.15 336.35
During the year under review, the total revenue earned is Rs. 2663.83
Lacs compared to previous year''s revenue of Rs.1568.20 Lacs on
standalone basis. The profit before tax stands at Rs. 1595.63 Lacs as
compared to Rs. 862.44 Lacs during the previous year. The consolidated
revenue for the current year amounted to Rs. 3036.99 Lacs against Rs.
3051.92 Lacs compared to the previous year.
The Board had declared an Interim Dividend of 6% i.e Rs 0.12/-per
Equity Share on 12th August 2011.
The Board of Directors have recommended a Final dividend of 6% i.e
Rs.0.12/- per Equity share amounting to Rs. 75,55,945/- , for the
approval of the shareholders.
Mr. Mahadevan Kalahasthi, and Mr. Jignesh Sanghavi, Directors of the
Company retire by rotation and being eligible seek re-appointment at
the ensuing Annual General Meeting, The Board recommend their
Your Company has not accepted any deposits in terms of the provisions
of Section 58A of the Companies Act, 1956, read with the Companies
(Acceptance of Deposits) Rules, 1975, as amended, during the year under
The Equity Shares of the Company are listed at the Bombay Stock
Exchange and National Stock Exchange Limited.
SUBSIDIARY COMPANIES ACCOUNTS:
In accordance with the general circular issued by the Ministry of
Corporate Affairs, Government of India, the Balance Sheet, Profit and
Loss Account and other documents of the subsidiary companies are not
being attached with the Balance Sheet of the Company. However the
financial information of the subsidiary companies is disclosed in the
Annual Report in compliance with the said circular. The Company will
make available the Annual Accounts of the subsidiary companies and the
related information to any member of the Company who may be interested
in obtaining the same. The annual accounts of the subsidiary companies
will also be kept open for inspection at the Registered Office of the
Company. The Consolidated Financial Statements presented by the Company
include the financial results of its subsidiary companies. Details of
major subsidiaries of the Company forms part of this Annual Report.
CORPORATE SOCIAL RESPONSIBILITY AND COMMUNITY DEVELOPMENT:
Out for Good: Focusing on welfare of the economically and socially
deprived Tribal Block situated at Jawahar in Thane District, SUNTECK in
association with National Rural Research and Development
Association(NARAD) engaged itself in the activity of distributing toys,
books and other stationery items to the children including the staple
food grains and fruits to each family in the area.
Sunteck sponsored Notebooks and Stationery at the Sports event
organized at Mahindra Park, Breach Candy, by Colliers International in
association with Muktangan, Akanksha & Magic Bus Foundation for the
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirements of Section 217(2AA) of the Companies Act,
1956 (Act) your Directors confirm that:
1. in the preparation of the Annual Accounts for the year 2011-12 the
applicable Accounting Standards have been followed along with proper
explanation relating to material departures;
2. the Directors have selected such accounting policies and applied
them consistently and made judgements 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 under review and of the
Profit of the Company for that period;
3. the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act, for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities;
4. the Directors have prepared the Annual Accounts on a going concern
B) Particulars required to be furnished by the Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988:
i) As the Company is not a manufacturing company the Directors has
nothing to report under the provisions of 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 .
ii) Foreign Exchange Earnings and Outgo:
a) Foreign Exchange Earned: NIL
b) Foreign Exchange Outflow: Rs 4.49 Lacs
The Report on Corporate Governance is attached as Annexure I and forms
part of this Report.
Cost Audit Compliance Report
In compliance with the The Companies ( Cost Accounting Records) Rules,
2011 the Ministry of Corporate Affairs vide the notification dated 3rd
June 2011, the Company being carrying on the business of Construction
and development, the Compliance Report will be duly filed within 180
days of the Completion of the close of the Financial year ended 31st
Transfer to unclaimed dividend account
In compliance with the Ministry of Corporate Affairs Notification for
Investor Education and Protection Fund (Uploading of information
regarding unpaid and unclaimed amounts lying with companies) Rules,
2012 the effective steps are being implemented by the Company to upload
the information regarding the uploading of information relating to
unpaid and unclaimed dividend lying with the Companies on the site of
the Ministry of Corporate Affairs as well as the Website of the
MANAGEMENT ANALYSIS AND DISCUSSION REPORT
Management Analysis and Discussion Report is attached as Annexure II
and forms a part of this Report.
M/s Lodha & Co., Chartered Accountants, Statutory Auditors of the
Company, will retire at the conclusion of the forthcoming Annual
General meeting. They have offered themselves for reappointment and if
appointed, the appointment would be within the limits prescribed under
section 224 (1)(B) of the Companies Act 1956.
Your Directors would like to express their sincere appreciation and
gratitude for the co-operation and assistance from its shareholders,
bankers, regulatory bodies and other business constituents during the
year under review.
Your Directors also wish to place on record their deep sense of
appreciation for the contribution and commitment made by every member
of the Sunteck Family.
On behalf of the Board of Directors
Mumbai Kamal Khetan
30th May, 2012 Chairman & Managing Director