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Ashutosh Paper Mills Ltd.

BSE Live

Jul 06, 16:00
0.48 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
2,446
10-Day
2,196
30-Day
1,289
650
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  • Bid Price (Qty.)

    0.48 (7900)

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    0.00 (0)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
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Ashutosh Paper Mills is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010

Director’s Report

Dear Members, The Directors have pleasure in presenting the 26th Annual Report on the business, operations and financial performance of the company during the financial year ended 31st March 2014. FINANCIAL RESULTS (Rs. In lacs) Particulars For The Year Ended 31st March 31st March 2014 2013 Sales/Operating Income 107.08 177.18 Other Income - - Expenses:- Purchase of Stock in trade 96.12 161.13 Changes in Inventories of Stock in Trade - - Employee Benefit Expenses 4.93 6.87 Depreciation and Amortisation Expenses - - Administrative & Other expenses 4.74 8.91 Profit Before Tax 1.29 0.26 Less: Current Year Tax 0.39 0.08 Deferred Tax - - Profit/(Loss) after tax 0.90 0.18 BUSINESS REVIEW The year has ended with a Net Profit of Rs. 90,018/- as against Net Profit of Rs. 18,238/- of last year. The Company is exploring avenues for business opportunities and wish to enter in new area of activity. The Company is trying its best to keep its expenses in check in spite of inflationary trends and to revive the business of the Company. Barring unforeseen circumstances- we expect better performance in the current year. FUTURE OUTLOOK The outlook of the economic growth across the globe with positive vibrations will fuel a growth and demand recovery. At the present moment there is a lull in the market and the management is looking forward for changing situation in the global market. While optimism rears for new vigour and thrust like emphasis on colour ways and new designs, it is expected these changes will bring in positive response from the overseas buyers and will trigger growth and profitability in due course of time. DIVIDEND The Board is of the view that the Company should utilize its funds towards the operations to accelerate the growth rate. Accordingly the Board does not recommend any dividend payment for the year 2013-14. PUBLIC DEPOSIT SCHEME Your Company has neither invited nor accepted any deposits from public within the meaning of Section 58A and 58 AA of the Companies Act, 1956 read with Companies (Acceptance of Deposit) Rules, 1975 during the year under review. CORPORATE GOVERNANCE Your Company is committed to maintain the highest standards of Corporate Governance. Your Director adhere to the stipulations set out in the Listing Agreement with the Stock Exchanges and have implemented all the prescribed requirements. A separate report on Corporate Governance as stipulated, under Clause 49 of the listing Agreement, with the Stock Exchanges and have implemented all the prescribed requirements. A certificate from the auditors of the company M/s SNMG & Co; Chartered Accountants confirming compliance of conditions of Corporate Governance as stipulated in Clause 49 is annexed to this report. DIRECTORS Your board has a Non-Executive Chairman and the number of Independent Directors is half of the total strength of Directors. The composition of the board is in conformity of Clause 49 of the Listing Agreement. Your board of directors consist of the following four directors: 1. Mr. Sunil Kumar Agarwal (Managing Director) 2. Mr. Amit Agarwal (Non-Executive Director) 3. Mr. Vinod Kumar Jain (Non-Executive Independent Director); and 4. Mr. Santosh Kumar Yadav (Non-Executive Independent Director) 5. Mrs Payal Agarwal (Non-Executive Director) AUDITORS AND THEIR REPORT M/s SNMG & Co., Chartered Accountants, Chartered Accountants, who served as Statutory Auditors of the company since a long time, resigned from the position w.e.f. 30th September, 2014, expressing their inability to continue as the Statutory Auditors of the Company. In their replacement, M/s DEEPAK I P AGARWAL & CO., CHARTERED ACCOUNTANTS, will be appointed as Statutory Auditors of the Company with approval of shareholders of the company by way of ordinary resolution passed in its Annual General Meeting. The board recommends their appointment as statutory auditors of the company. SUBSIDIARIES As on 31st March 2014, the Company has three Wholly Owned Subsidiary namely Xenon Tradecom Limited, JBD Estates Limited and Aglow Steels Limited respectively. Consolidated Accounts of its subsidiaries for the year under review has also been drawn in accordance with applicable accounting Standards. CONSOLITED FINANCIAL STATEMENT As required under the Listing Agreements with the Stock Exchanges Consolidated Financial Statements of the Company are attached. The consolidated Financial statements have been prepared in accordance with Accounting standard 21, Accounting standard 23 and Accounting standard 27 issued by The Institute of Chartered Accountants of India and showing the financial resources, assets, liabilities, income, profits and other details of the Company and its subsidiaries as a single entity, after elimination of minority interest CORPORATE GOVERNANCE A separate section on Corporate Governance together with a certificate from the Company''s auditors confirming the compliance of conditions of Corporate Governance as stipulated in Clause 49 of the listing agreement with the Stock Exchanges is annexed hereto. MANAGEMENT DISCUSSION AND ANALYSIS REPORT Management Discussion and Analysis Report as required under Clause 49 of the Listing Agreement with the Stock Exchanges is given in Annexure-A and forms an integral part of this report. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARN-INGS AND OUTGO The information pertaining to conservation of energy, technology absorption, foreign exchange earnings & outgo, as required under the Companies Act, 2013, read with the Draft Companies Rules, 2013 is given as per Annexure- B & forms part of the Directors Report. DIRECTORS'' RESPONSIBILITY STATEMENT In Accordance with the provisions of Section 134(5) (Corresponding to Section 217(2AA) of the Companies Act, 1956) the Board confirms & submits the Director''s Responsibility Statement:- i) in the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures have been made from the same; ii) they 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 and of the profit or loss of the company for that period; iii) they have taken proper and sufficient care for the maintenance of adequate accounting records for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; iv) they have prepared the annual accounts on a going concern basis. PARTICULARS OF EMPLOYEES As required under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended time to time, no employee of the company was covered by these provisions during the year ended 31.03.2014. ACKNOWLEDGEMENT Your Directors wish to place on record their appreciation for the co-operation extended to the company by commercial banks, business associates, shareholders, customers and executives. On behalf of the Board of Directors For TRIDEV INFRAESTATES LIMITED Sd/- Sd/- Place : Delhi Sunil Kumar Agarwal Vinod Kumar Jain Dated : 14.08.2014 (Managing Director) (Director) DIN: 00033287 DIN: 01943778

Director’s Report