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Antarctica Ltd.

BSE: 526715 | NSE: ANTGRAPHIC |

Shares falling in the `Trade-to-Trade` or `T-segment` are traded in this series and no intraday is allowed. This means trades can only be settled by accepting or giving the delivery of shares.
Series: BE | ISIN: INE414B01021 | SECTOR: Printing & Stationery

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Antarctica is not listed on BSE

NSE Live

Mar 11, 15:32
0.50 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
28,688
10-Day
27,627
30-Day
22,680
31,544
  • Prev. Close

    0.50

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    0.45

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Annual Report

For Year :
2015 2014 2013 2012 2010 2008 2006

Director’s Report

DEAR MEMBERS, The Directors are pleased to present the Annual Report and Audited Accounts of the Company for the financial year ended 31st March, 2015. EXTRACT OF ANNUAL RETURN The extract of the Annual Return as provided u/s 92(3) of the Companies Act 2013 read with Companies (Management & Administration) Rules, 2014, is given as Annexure A in the Annexure forming part of the Report. NO OF MEETINGS OF THE BOARD The Board of Directors have met 4 (four) times during the Financial Year ended 31th March, 2015 DIRECTORS'' RESPONSIBILITY STATEMENT In accordance with the provisions of the Section 134 (3)(C) & 134 (5) of the Companies Act, 2013, your Directors confirm that : 1) Applicable accounting standards have been followed in the preparation of the Annual Accounts for the year ended 31th March, 2015 with proper explanation relating to material departures. 2) Accounting policies have been selected and applied consistently and judgments and estimates have been made which are reasonable and prudent and have been applied so as to give a true and fair view ofthe state of affairs ofthe Company in respect ofthe financial year ended 31st March, 2015 and ofthe profit ofthe Company for that period. 3) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 4) Annual Accounts for the year ended 31st March, 2015 have been prepared on the basis of going concern concept. 5) The Directors have laid down the internal financial controls which are adequate and are being operated effectively. 6) Proper systems have been devised to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively. DECLARATION BY INDEPENDENT DIRECTORS Every Independent Director has, at the first meeting of the Board and also at the first meeting of the Board after his/her appointment, in the financial year 2014-2015, given a declaration as required u/s. 149 of the Companies Act, 2013 that he/she meets the criteria of Independence. POLICY ON DIRECTOR''S APPOINTMENT AND REMUNERATION ETC. The Company''s policy on Directors'' appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters providedu/s. 178(3) of the Companies Act, 2013 is given as Annexure B in the Annexure forming part of this Report. DIRECTORS In accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Mr. Rohit Kuthari retires by rotation at the ensuing Annual General Meeting and being eligible, offer herself for re-appointment. AUDITORS Messers A K S & Associates, Chartered Accountants, the Statutory Auditors of the Company retire at the forthcoming Annual General Meeting and are eligible for re-appointment. AUDITOR'' REPORT The report by the Auditors is self explanatory and has no qualification, reservation, adverse remark of disclaimer; hence no explanation or comments by the Board were required. Secretarial Audit Report The Secretarial Audit Report by the Company Secretary in Practice is self explanatory and is given as Annexure C in the Annexure forming part of this Report. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS u/s 186 OF THE COMPANIES ACT, 2013 During the year from 01/04/2014 to 31/03/2015 : NIL The position as on 31/03/2015 and as on 31/03/2014 : NIL PARTICULARS OF CONTRACTS REARRANGEMENTS WITH RELATED PARTIES REFERRED TO IN SECTION 188(1) OF THE COMPANIES ACT, 2013 AND/OR IN THE FORM AOC-2 During the year the Company had no Transaction referred to the above Section ofthe Companies Act 2013. STATE OF COMPANY''S AFFAIRS/FINANCIAL SUMMARY OR HIGHLIGHTS FINANCIAL SUMMARY Current Year Previous Year Rs in Rs in thousand lac thousand lac Total Revenue 244.96 328.49 Prior Period them 0.91 - Profit before Finance Coast. Depreciation and Taxation 29.05 53.94 Less:FinanceCost 0.91 0.74 Profit/(Loss)beforeDepreciationand 28.14 53.20 Tax Less:Depreciation 51.58 32.12 Profit/(Loss)beforetax (23.43) 21.08 Less/(Add): Provision of Deferred - - Tax Charge / (Credit) Profit/(Loss)aftertax (23.43) 21.08 Add : Balance brought forward from (290.00) (311.08) previous year Surplus available for Appropriation (313.43) (290.00) Less : Deferred Tax Charge for the - - earlier years (313.43) (290.00) Appropriation : Transferred to General Reserve - - Balance carried to Balance Sheet (313.43) (290.00) Amounts, if any, proposed to be carried to any reserves Appropriation amounts proposed to be transferred to General Reserve : NIL Amounted any recommended to be paid by way of dividend : NIL CONSERVATION OF ENERGY, ABSORPTION OF TECHNOLOGY, FOREIGN EXCHANGE EARNINGS AND OUTGO The information pursuant to Section 134 (3) (m) of Companies Act 2013 and Rule 8 of Companies (Accounts) Rule 2014 is given as Annexure E in the Annexure forming part of this Report. RISK MANAGEMENT POLICY The Board of Directors of the Company has developed and implemented a risk management policy for the Company including identification therein of element of risk which in the opinion of the Board, may threaten the existence of the Company. POLICY ON CORPORATE SOCIAL RESPONSIBILITY The level of operations of the Company does not conform to the minimum threshold of Corporate Social Responsibility reporting. FORMAL ANNUAL EVALUATION OF BOARD Formal Annual Evaluation by the Board of its own performance and that of its committees and individual directors had been done during the year in manner stated in the Criteria for Performance Evaluation of the Directors of the Company as framed by the Nomination and Remuneration Committee of the Company an given as Annexure F in the Annexure forming a part of this Report. CHANGE IN THE NATURE OF BUSINESS There has been no change in the nature of Business on the Company. DETAILS OF DIRECTORS OR KEY MANAGERIAL PERSONNEL WHO WERE APPOINTED OR HAVE RESIGNED DURING THE YEAR. No Director''s or Key Managerial personnel were appointed or have resigned during the year. NAMES OF COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES DURING THE YEAR NIL DETAILS RELATING TO DEPOSITS COVERED UNDER OR WHICH ARE NOT IN COMPLIANCE WITH THE REQUIREMENTS OF CHAPTER V OF THE ACT. NIL DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATIONS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATIONS IN FUTURE. There were no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company''s operations in future. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENT. Being a listed entity, the financial statements are passing through the Audit Committee and the processes of Internal and External (Tax, Cost and Statutory) Audits, before being approved at the meeting of the Board of Directors of the Company. AUDIT COMMITTEE AS REQUIRED U/S. 177(8) OF COMPANIES ACT, 2013 The composition of the Audit Committee is covered under the report on Corporate Governance and which is a part of this report. Further, during the year there was no recommendation of the Audit Committee which had not been accepted by the Board. VIGIL MECHANISM/WHISTLE BLOWER POLICY. In pursuance to the provisions of section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for Directors and employees of the Company, to report genuine concerns has been established. The Vigil Mechanism/Whistle Blower Policy has been uploaded on the Company''s website at www.antarctica-packaging.com Particulars of Directors'' Remuneration U/s 197 (12) ofthe Companies Act, 2013 Read with Rule 5 (1) of Companies (Appointment and Remuneration of Managerial personnel) Rules, 2014 Sl. Name Designation % increase in No. remuneration 1 RanjanKuthari Mg. Director Nil 2 RohitKuthari Executive Director 16.55 3 Rajat Kothari Executive Director Nil 4 Sailendra Nath Rakshit CFO 2.07 Sl. Name Rate ofthe remuneration No. of each director: median remuneration ofthe Employees 1 RanjanKuthari 11.6:1 2 RohitKuthari 8.79:1 3 Rajat Kothari 2.43:1 4 Sailendra Nath Rakshit 3.69:1 The Company has 46 employees as on 31st March, 2015 Percentage increase in the median remuneration of employees in the financial year : 3.8% Average percentile increase in the salaries of employees compared with percentile increase in managerial remuneration is 1.49:1 The ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in excess of the highest paid director during the year : N.A. Market Capitalization 31-03-2014 31-03-2015 Variation 233 lacs 155 lacs 33.50% Price Earning Ratio 31-03-2014 31-03-2015 0.01 (-) 0.02 PARTICULARS OF EMPLOYEES As on March 31,2015 the Company did not have any employee in the category specified in Rule 5(2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. AUDITORS,S CERTIFICATE REGARDING COMPLIANCE OF CONDITIONS OF CORPORATE GOVERNANCE Certificate regarding compliance of conditions of corporate governance is given as Annexture G in the Annexure forming part of this report. For & On Behalf of the Board of Directors Date : 30th May, 2015 Ranjan Kuthari Place : Kolkata Chairman & Managing Director

Director’s Report