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Auroma Coke Ltd.

BSE Live

Oct 20, 16:00
4.70 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
342
10-Day
255
30-Day
358
825
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    4.70

  • Open Price

    4.62

  • Bid Price (Qty.)

    4.62 (12)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
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    -

  • Open Price

    -

  • Bid Price (Qty.)

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Auroma Coke is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2006

Director’s Report

Dear Members, The Board of Directors presents 22nd Annual Report and the Audited Financial Results of the Company for the year ended 31st March, 2015. FINANCIAL RESULTS (Rs in lacs) Particulars 2014-15 2013-14 Total Income 1735.30 1896.62 Total Expenditure 1644.02 1645.34 Profit before Interest, 91.28 251.28 Depreciation and Tax Less : (1) Finance Cost 183.30 185.80 (2) Depreciation 52.10 62.19 Profit/(Loss) before Tax (144.12) 3.29 Provision for Tax 65.48 1.41 Profit/(Loss) for the year (78.64) 1.88 Amount brought forward 450.28 448.40 Depreciation amortised (67.71) Amount carried to Balance 303.93 450.28 Sheet REVIEW OF OPERATIONS During the year under review, owing to general sluggishness in steel and coke sector, the volume of sales and realization have been adversely affected. The Company has earned total income of Rs.1735.30 lacs as against Rs.1896.62 lacs registered in the previous year. The Company has incurred a loss after tax of Rs. 78.63 lacs as against profit after tax of Rs. 1.88 lacs in the previous year. DIVIDEND In view of the losses incurred during the year, your directors do not recommend any dividend. CORPORATE GOVERNANCE As required under Clause 49 of the Listing Agreement with the Stock Exchange, a report on the Corporate Governance along with Certificate of the Auditors and a Report on Management Discussion and Analysis are annexed and forms part of this Annual Report. DIRECTORS Appointment of Independent Directors : Mr. Alok Sawa and Mr. Abhishek Chhapolika have been appointed on the Board of the Company as Independent Director for a period of 5 years upto 31st March, 2019. The Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement. Appointment of Additional Director: The Board has appointed Mrs. Vibha Tulsyan as an additional director w.e.f. 30.03.2015 to hold office upto the conclusion of the ensuing Annual General Meeting. Mrs. Vibha Tulsyan being eligible offers herself for re-appointment. Resignation of Directors: During the year under review, Mr. Vimal Kumar Tulsyan, Mr. Sanjeev Kumar Tulsyan, Mr. Rajiv Tulsyan, Mr. Binod Kumar Singh, Mr. Nawal Kishore Singh, Mr. Swapan De Choudhuri have resigned from the Board of Directors of the Company w.e.f. 26.08.2014, Number of Board Meetings held : The Board of Directors duly met eight times on 30.05.2014, 30.07.2014, 26.08.2014, 12.11.2014, 20.11.2014, 11.01.2015, 14.02.2015, 31.03.2015. PUBLIC DEPOSITS The Company has not accepted or renewed any Public Deposits, as defined under provisions of Chapter V of the Companies Act, 2013. DIRECTORS'' RESPONSIBILITY STATEMENT Pursuant to the requirements under Section 134(5) of the Companies Act, 2013 with respect to Directors'' Responsibility Statement, your Directors hereby confirm and state that: a) in the preparation of the annual accounts for the year ended 31st March, 2015, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; b) 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 year ended 31st March, 2015 and of the losses of the company for the same period; c) the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; d) they have prepared the annual accounts on a going concern basis; e) they have laid down internal financial controls in the company that are adequate and were operating effectively. f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and these are adequate and are operating effectively. AUDIT COMMITTEE The Audit Committee comprises of Mr Abhishek Chhapolika - Chairman, Mr Alok Sawa and Mr Prashant Tulsyan as Members. The committee periodically discusses with the Statutory Auditors about the internal control system, the scope of audit and reviews the financial statements before submission thereof to the Board and ensures compliance of internal control system apart from considering any reference made to it by the Board of Directors. AUDITORS M/s Agarwal Khemka & Associates, Chartered Accountants, retires as Statutory Auditors of the Company at the ensuing Annual General Meeting and are eligible for re-appointment. As required under Section 139 of the Companies Act, 2013, the Company has received a written confirmation from them to the effect that their reappointment, if made, would be subject to the conditions as prescribed under Rule 4 of the Companies (Audit and Auditors) Rules 2014 and that they are not disqualified from being appointed as Statutory Auditors of the Company. AUDITORS'' REPORT The observations of the Auditors in their Report read with relevant notes on the Accounts, as annexed are self explanatory and they do not call for further explanation in this Report. CORPORATE SOCIAL RESPONSIBILITY (CSR) The provisions of Section 135 of the Companies Act, 2013 relating to the corporate social responsibility are not applicable as the Company does not fall in any of the criteria mentioned in that Section. SECRETARIAL AUDIT REPORT According to the provision of section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Secretarial Audit Report submitted by Mr. Rajarshi Ghosh, Company Secretary in Practice is annexed herewith as Annexure - A. EXTRACT OF ANNUAL RETURN The extract of the Annual Return in Form MGT-9 is annexed herewith as Annexure-B. RISK MANAGEMENT POLICY Board of Directors have formulated and implemented a risk management policy for the company. The Board has been addressing various risks impacting the Company including identification therein of elements of risk, if any, which in the opinion of the Board may threaten the existence of the company. VIGIL MECHANISM In pursuance to the provisions of Section 177 (9) & (10) of the Companies Act, 2013 and provisions of the Listing Agreement, a Vigil Mechanism Policy for directors and employees to report genuine concerns has been established. POLICY ON DIRECTORS'' APPOINTMENT AND REMUNERATION, ETC. The Nomination and Remuneration Committee of the Company has framed a suitable policy on Directors'' appointment which identifies the qualifications, positive attributes, independence of the Directors. The Committee has also recommended to the Board a Policy on remuneration for the Directors, Key Managerial Personnel and other employees. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO A. Conservation of Energy : The Coke Ovens are designed in such a way that considerable amount of energy is saved. B. Technology Absorption : The present technology used in manufacturing process is Indigenous. The Company has not carried out any research and development activities during the year. C. The foreign exchange earnings and outgo : Nil RELATED PARTY TRANSACTIONS Related Party Transactions that were entered during the financial year were on an arms length basis and were in the ordinary course of business. The Company has not entered into material related party which require disclosures under the provisions of the Companies Act, 2013 and the listing agreement. LOANS, GUARANTEES AND INVESTMENT Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements. ACKNOWLEDGEMENTS The Directors place on record their gratitude to the bankers, media, Government and other agencies for their assistance, cooperation and encouragement extended to the Company. The Directors also wish to place on record their sincere thanks and appreciation for the continuing support and unstinted efforts of investors and employees during the year under review. By Order of the Board For AUROMA COKE LIMITED Place : Kolkata Prashant Tulsyan Dated : 30th May, 2015 Whole-time Director

Director’s Report