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Ambica Agar Directors Report, Ambica Agar Reports by Directors
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Ambica Agar

BSE: 532335|NSE: AMBICAAGAR|ISIN: INE792B01012|SECTOR: Trading
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Ambica Agar is not traded in the last 30 days
Ambica Agar is not traded in the last 30 days
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Directors Report Year End : Mar '13    Mar 12
To The Members,
 
 The Directors have pleasure in presenting herewith the 18th Annual
 Report of Company together with the Audited Accounts for the fnancial
 year ended 31st March, 2013
 
 
 FINANCIAL RESULTS:                                       (Rs.in lakhs)
  
                                             YEAR ENDED     YEAR ENDED 
 
 PARTICULARS                                 31.03.2013     31.03.2012
 
 Sales                                          9943.45        8542.38
 
 Other Income                                    131.38         114.99
 
 TOTAL Income                                  10074.83        8657.37
 
 Expenditure                                    9585.20        8138.27 
 
 Profit before depreciation and Income tax       489.63         519.10
 
 Depreciation                                    298.05         267.41
 
 Net proft before tax                            191.58         251.69 
 
 Provision for taxation
 
 a. Current tax                                   38.33          73.29
 
 b. Deferred tax                                  23.83          (9.91) 
 
 Profit after tax                                129.43         188.31
 
 
 
 OVERALL PERFORMANCE OF THE COMPANY:
 
 During the fnancial year under review the overall performance of the
 Company was good the overall turnover has increased to Rs 9943.45 Lakhs
 as compare to Rs 8542.38 Lakhs and the Net proft was decreased to Rs
 129.43 Lakhs as compare to Rs 188.31 Lakhs due to operational losses
 incurred in the newly started hotel at Vizag.
 
 When it comes to Segment wise performance of the Company the Turnover
 of the Agarbathies Division was Rs 8303.01 Lakhs as Compare to Rs
 7144.57 Lakhs and the Turnover of hotel division was Rs 1706.76 Lakhs
 as compared to Rs 1455.77 Lakhs and the turnover in Construction
 Division(Windmill) was 65.07 lakhs as compared to Rs. 57.03 lakhs,
 other projects are in fnishing stages.
 
 DIVIDEND
 
 Your Directors do not recommend any Dividend forthe Financial
 Year2012-2013 as the profts are planned to be ploughed back into the
 business operations.
 
 PERSONNEL:
 
 None of the Employees of the Company are drawing remuneration exceeding
 limits prescribed U/s 217(2A) of the Companies Act, 1956 read with the
 Companies (Particulars of Employees) Rules, 2011.
 
 FIXED DEPOSITS:
 
 Your company has not accepted any deposits falling under Section 58A of
 the Companies Act, 1956 read with Companies (Acceptance of Deposits)
 Rules 1975 during the year.
 
 DIRECTORS:
 
 Sri P Sreedharan Venkatesan Director of the Company retires by rotation
 at the ensuing annual general meeting and being eligible offer
 themselves for re-appointment.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Pursuant to Section 217(2AA) of the Companies Act, 1956 the directors
 of your Company hereby confrm that:
 
 i. In preparation of annual accounts for the fnancial year ended 31st
 March, 2013 the applicable accounting standards have been followed
 along with proper explanation relating to material departure, if any,
 there from;
 
 ii. 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 true and fair view of the state of affairs of
 the Company at the end of the fnancial year ended 31st March 2013 and
 of the proft and loss of the Company for that period;
 
 iii. The directors have taken proper and suffcient 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;
 
 iv The Directors have prepared the annual accounts on a going concern
 basis.
 
 AUDITORS:
 
 The Statutory Auditor, Sri T S Ajai, Chartered Accountant, hold office
 till the conclusion of ensuing Annual General Meeting. The Company is
 in receipt of confrmation from the Statutory Auditorthat in the event
 of his re-appointment as Statutory Auditor at the ensuing Annual
 General Meeting, such appointment will be in accordance with the limits
 specifed in Section 224 (1B) of the Companies Act, 1956.
 
 Reply to Auditors Qualifcation
 
 1.  With regard to the deposit of Amounts to statutory Authorities
 (Point No. 9 (a) of the Auditors Reports). Your Board would like to
 bring to your kind notice that due to liquidity problem the company has
 delayed in depositing the amount.
 
 2.  With regard to transferring of unpaid dividend to Investor
 Education Fund, Your board would like bring to your kind notice that
 the company is under the process of reconciliation of names of share
 holders and transfer the same.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION,
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 As required under Section 217 (1) (e) of the Companies Act, 1956 read
 with Companies (Disclosure of particulars in the Report of Board of
 Directors) Rules, 1988, the information is given as hereunder:
 
 A.  Conservation of Energy - The present operation of the Company do
 not involve high energy consumption. However steps being taken to
 minimize energy consumption where ever possible
 
 B.  Research & Development - The Research and Development division of
 Agarbathies department continues to focus on introducing of new brands.
 
 C. Technology Absorption - Not Applicable
 
 D. Foreign Exchange Earnings & Outgo:
 
 
                                           (In Rs. Lakhs)
 
                                     2012-13     2011-12
 
 Foreign Exchange earnings             Nil        15.21
 
 Foreign Exchange outgo                Nil         Nil
 
 
 MANAGEMENT DISCUSSION AND ANALYSIS:
 
 Aspects of Management Discussion and Analysis are enclosed as Annexure
 - I to this report
 
 CORPORATE GOVERNANCE:
 
 Report on Corporate Governance including Auditor''s Certifcate on
 Compliance with the code of Corporate Governance under Clause 49 of the
 listing agreement is enclosed as Annexure - II to this report.
 
 ACKNOWLEDGEMENTS:
 
 Your Directors place on record, their appreciation for the co-operation
 and support from the Bankers, Financial Institutions, the stockiest and
 distributors, Supplier and Customers.
 
 Your Directors would also like to place on record their sincere
 appreciation and gratitude to the Shareholders, Central and State
 Government agencies etc for their support and co-operation. Your
 Directors express their heartfelt gratitude to the employees for their
 exceptional commitment and loyalty to the Company.
 
 
 
                                       For AMBICA AGARBATHIES AROMA
 
                                          AND INDUSTRIES LIMITED
 
 
 
 
                                                    Sd/- 
 
 Place : Hyderabad                            AMBICA KRISHNA
 
 Date : 24.08.2013                    Chairman and Managing Director
Source : Dion Global Solutions Limited
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