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Allied Computers International (Asia) Ltd.

BSE: 532919 | NSE: | Series: NA | ISIN: INE335I01056 | SECTOR: Computers - Software Medium & Small

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Allied Computers International (Asia) is not traded on BSE in the last 30 days

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Allied Computers International (Asia) is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2008

Director’s Report

The Directors are presenting the 6th Annual Report of the Company together with Audited Accounts for the year ended March 31, 2008. FINANCIAL RESULTS (Rupees in Lacs) 2007 - 2008 2006 - 2007 1 Net Sales/Income from Operations 4272.40 3813.28 2 Total Income 4272.40 3813.28 3 Total Expenditure (Excluding Interest and Depriciation) 4054.22 3537.36 4 Interest 86.29 85.94 5 Gross Profit after Interest but before Depreciation and Taxation (2-3-4) 131.89 189.98 6 Depreciation 121.59 55.11 7 Profit before Taxation (5 - 6) 10.30 134.87 8 Provision for Taxation 3.46 45.39 9 Net Profit after Tax (7-8) 6.84 89.48 Business Overview: Present business & future prospectus The Company has till date successfully launched its low budget laptops in the market gaining substantial media coverage and brand awareness. The demand for this low budget laptops has been far greater than expected with the Company having to limit its marketing to try and meet its demand in order to support the Companys financial model. Due to the high demand of our current models, the Company has withheld its launch of its sub-Rs.15,000 laptop till first quarter of 2009 to ensure full disposal of its previous models (to prevent product obsolescence) and to create a big impact in the market with better cash flow model generated from sales of its previous models. The new Rs. 15,000 product has been fully tested and ready for supply since June 2008. The Company has installed its service unit in vasai and it is planned to be fully functional with state of the art machinery within next few months. The Company has installed a software division and has already successfully accomplished part of its first contract from US. Within year 2009, the Company shall makes its national service hub in vasai fully functional. This shall provide chip-level diagnostics and repairs of all PCBs within laptops of any brand giving ACI an edge over all its competitors, providing cost effective repairs to systems of all brands and in turn winning over customers. The Company is currently working on a sub-Rs. 10,000 laptop which it intends to announce and launch June/July 2009. The Company plans to strengthen its software division in year 2009 to help increase its top bottom line venturing into real-time embedded software. Due to fire broke out in our Accounts dept., all the records had been destroyed and management in trying to revive datas and records. Directors: During the year, Mr. Jay Sampat and Ms. Namita Agarwal have been appointed as an Additional Directors of the Company. They holds the office up to the date of the forthcoming Annual General Meeting under Section 260 of the Companies Act, 1956. Notice has been received by your company from a member along with the required deposit, under section 257 of the Act, proposing their candidature for appointment as a Director. During the year, Mr. Bharat Vyas, Wholetime Director and Mr. Sanjay B Mehta resigned due to their own accord. Mr. Kanti R Pindoria, Director and Mr. K.K.Patel, Director retire by rotation at the forthcoming Annual General Meeting, and being eligible, offer themselves for re-appointment. Dividend: In absence of the adequate profits, the directors do not recommended any dividend during the financial year. Fixed Deposits The Company has not accepted any deposits from the public during the year under review. Corporate Governance: Your Company believes in coherent and self-regulatory approach in the conduct of its business to achieve highest standard of Corporate Governance. It has complied with the requirement of the Corporate Governance as stipulated by SEBI. A separate report on Corporate Governance along with Auditors Certificate on its compliance is annexed to and forms part of the report. Employee Relations: Relations between the employees and the Management continued to be cordial during the year. A statement of particulars of employees as required under section 217 (2A) of the Companies Act, 1956 is not annexed hereto as none of the employees drawing remuneration exceeding Rs.2,00,000/- p.m. or Rs.24,00,000/- p.a. Trade Relations: Your Company continued to receive unstinted support and co-operation from its retailers, stockist, suppliers of goods/ services and all others associated with it. Your Board wishes to record its appreciation and your Company would continue to build and maintain strong links with its business partners. Energy, Technology Absorption and Foreign Exchange: Details of energy conservation and research and development activities undertaken by the Company along with the information in accordance with the provisions of Section 217(1)(e) of the Companies Act read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, are annexed hereto and forms part of this report. Auditors: M/s G.C.Patel & Co., Chartered Accountants, was appointed as Auditor of your Company in the last Annual General Meeting of the Company. However, M/s. G.C.Patel & Co. has since resigned as the auditors of your Company and M/s. Uday Pasad & Associates., Chartered Accountants was appointed as Auditors of your Company by the Postal Ballot held on 18th November, 2008 and hold the office as Auditor of your Company till the conclusion of the forthcoming Annual General Meeting and have expressed their willingness to be reappointed. Their reappointment, if made, would be within the limits specified under section 224 (1-B) of the Companies Act, 1956. Members are requested to reappoint them and fix their remuneration. Directors Responsibility Statement: Pursuant to Section 217 (2A) of the Companies Act, 1956, the Directors, based on the representation received from the Operating Management, confirm : i) That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; ii) That the Directors have 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 ended on 31st March, 2008 and of the profit of the Company for that period; iii) That the Directors have 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 irregularities; iv) That the Directors have prepared the annual accounts on a going concern basis. Acknowledgements: The Directors sincerely appreciate the high degree of professionalism, commitment and dedication of the employees at all levels. Registered Office : For and on behalf of the Board 501-503, Morya Estate, New Link Road, Andheri (West), Mumbai - 400 053. Hirji Kanji Patel Jay Sampat Date: 30th November, 2008 Managing Director Director

Director’s Report