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
Sales/Operating Income 107.08 177.18
Other Income - -
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
Current Year Tax 0.39 0.08
Deferred Tax - -
Profit/(Loss) after tax 0.90 0.18
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
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.
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
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.
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
As on 31st March 2014, the Company has three Wholly Owned Subsidiary
namely Xenon Tradecom Limited, JBD Estates Limited and Aglow Steels
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
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.
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
Place : Delhi Sunil Kumar Agarwal Vinod Kumar Jain
Dated : 14.08.2014 (Managing Director) (Director)
DIN: 00033287 DIN: 01943778