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BGIL Films and Technologies Ltd.

BSE Live

Jan 23, 16:00
1.90 -0.01 (-0.52%)
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AVERAGE VOLUME
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199
10-Day
301
30-Day
592
1,026
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    1.91

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    2.00

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BGIL Films and Technologies is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2006

Director’s Report

The Members, The Directors submit Annual Report of BGIL Films & Technologies Limited (the Company) with the Audited Financial Statements for the financial year ended March 31st, 2014. FINANCIAL RESULTS (Rs. in Lacs) Particulars Financial Year Ended Financial Year Ended March 31, 2014 March 31, 2013 Gross Income Information Technologies/services 1325.88 1241.00 Media 162.16 177.40 Other Income 6.45 6.71 Increase/ Decrease in Stock 36.36 12.11 TOTAL INCOME 1530.85 1437.22 Less: TOTAL EXPENDITURE 1435.67 1327.72 Profit before depreciation, Interest & Tax 95.18 109.50 Less: Interest 0.62 1.48 Depreciation 92.89 92.28 Profit Before Tax (PBT) 1.66 15.74 Tax expenses including deffered tax (12.23) 18.92 Profit after Tax and Extraordinary items 14.68 (3.18) Balance brought forward from previous Year 320.16 323.33 Balance carried forward 334.84 320.15 TRANSFER TO RESERVES The Board of Directors does not recommend any transfer to reserves for the period under review. DIVIDEND As the distributable profits are insufficient; therefore, it is recommended to plough back the same for the future growth of the company. Company''s Performance For the financial year 2013-14 ended March 31, 2014, revenue from operations was Rs.1488.04 lacs, out of which revenue from Information Technologies sector at Rs. 1325.88 6.84 % over last year (Rs.1241.00 Lacs in 2012-13). Earnings before interest, tax, depreciation and amortization (EBITDA) at Rs. 95.18 Lacs (Rs.109.50 Lacs). The management of your Company tries its best to get leading position in Media & Entertainment Industry. Some critical conditions running in Worldwide economy and Indian economy also faced many undesirable conditions by which the wheels of progress of Industries in India, not gone in right path but the Management of your Company which is very skillful and have deep knowledge in the field of media, tried hard to get fine results for the Accounting Year 2013-14. SHARE CAPITAL There has been no change in the Share Capital of the Company. PUBLIC DEPOSITS The Company has not accepted any deposits from the public during the period under review. DIRECTORS Induction Mrs. Jaya Misra who was earlier appointed on 12th August 2013 as whole time Director of the Company by the shareholders, after that she was resigned from the office of whole time Director dated 12th November, 2013. Further on August 14, 2014, the Board appointed Mrs. Jaya Misra as an Additional director on the Board and further she is elevated as Whole time Director w.e.f. 29th August, 2014 of the Company for the period of five years, subject to the Shareholders approval in the ensuing Annual General Meeting. Re-appointment As per the provisions of Companies Act, 2013, Mr. Rakesh Bhhatia will retire in the ensuing AGM and being eligible, seeks re-appointment. The Board of Directors recommend their re- appointment. A brief resume of the Directors appointed/ retire at the ensuing Annual General Meeting, nature of their expertise in specific functional areas and names of Companies in which they hold directorship and / or membership / chairmanships of Committees of the Board, as stipulated under Clause 49 of the listing agreement with the Stock Exchanges in India, is given in the section of Corporate Governance forming part of this Annual Report. DIRECTORS'' RESPONSIBILITY STATEMENT Pursuant to the requirement of section 217(2AA) of the Companies Act, 1956, and based on the representations received from the operating management, the directors hereby confirm that: 1. in preparation of the Annual Accounts, the applicable accounting standards have been Followed. 2. The Directors had 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. 3. The Directors had taken proper and sufficient 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 fraud and other irregularities. 4. The Directors had prepared the Annual Accounts on a going concern basis. DISCLOSURES UNDER SECTION 217(1)(D) OF THE COMPANIES ACT, 2013 Except as disclosed elsewhere in this report, there have been no material changes and commitments which can affect the financial position of the Company occurred between the end of the financial year of the Company and date of this report. PARTICULARS OF EMPLOYEES There is no employee in the Company whose particulars are required to be given under section 217(2A) of the Companies Act, 1956 and the Rules made there under, as amended. AUDITORS The auditors, SNMG & Co., Chartered Accountants (Firm Registration No.004921N), retire at the ensuing AGM and have confirmed their eligibility and willingness to accept office as Statutory Auditors of the Company, if re-appointed. ADOPTION OF NEW SET OF ARTICLES Your Directors considered that the existing Articles of Association of the Company do not cover latest amendments and it is proposed to amend the existing Articles of Association by adopting a new set of Articles of Association in the place of the existing Articles of Association of the Company. New set of Articles were approved by the Board under section 14 of the Companies Act, 2013, in their meeting held on 29th August, 2014, subject to the adoption of the Shareholders in the ensuing Annual General Meeting. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION Your Company an Infotainment Company with its core operation being related technologies into Media & Films does not involve in any manufacturing activity during the period under review. No particulars are therefore furnished in this report in relation to the conservation of energy and technology absorption as required under Section 134 of the Companies Act, 2013. CORPORATE GOVERNANCE A Report on Corporate Governance as stipulated by Clause 49 of the Listing Agreement along with a certificate of compliance from Practicing Company Secretary, is included as part of the Annual Report. The Company has complied with the mandatory provisions of Corporate Governance as prescribed in Clause 49 of the Listing Agreement with the Stock Exchanges. The Company has implemented a Code of Conduct for all its Board Members and senior management of the Company who have affirmed compliance thereto. The said Code of Conduct has also been posted on the Company''s website. Management Discussion & Analysis There is a separate section on Management Discussion & Analysis Appended as Annexure A to this report , which includes the following: - Industry Structure And Developments - Discussion on financial Performance with respect to operational performance - Segment wise performance - Human Resources and Industrial Relations - Opportunities And Threats - Internal Control Systems and their adequacy - Risks And Concerns - Outlook ACKNOWLEDGEMENT Your Directors thank the Union Government, Government of Maharashtra as also all the Government agencies, banks, financial institutions, shareholders, registrar, share transfer agents, venders, customers, employees and other business associates, who, through their continued support and cooperation, have helped as partners in your Company''s progress. The Directors are also deeply touched by the efforts, sincerity and loyalty displayed by the employees without whom the growth of the Company is unattainable. The Directors seek, and look forward to the same support during the future years of growth. By order of the Board of Directors For BGIL Films & Technologies Limited Sd/- Place : New Delhi Rakesh Bhhatia Date : August 29, 2014 Chairman

Director’s Report