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Glittke Granites Ltd.

BSE: 513528 | NSE: | Series: NA | ISIN: INE741B01027 | SECTOR: Ceramics & Granite

BSE Live

May 28, 16:00
0.81 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
2,309
10-Day
4,929
30-Day
3,892
1,000
  • Prev. Close

    0.81

  • Open Price

    0.81

  • Bid Price (Qty.)

    0.75 (5000)

  • Offer Price (Qty.)

    0.81 (3000)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Glittke Granites is not listed on NSE

Annual Report

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

Director’s Report

Dear Members, The Directors have pleasure in presenting the Twenty fifth Annual Report and Audited Accounts for the year ended 31st March 2015. 1. FINANCIAL RESULTS : (Rs. In lacs) Particulars 31.03.2015 31.03.2014 Sales & Other Income 3428.20 4036.06 Profit before Interest, Depreciation & Tax 330.53 496.70 Less : Interest 130.67 195.52 Depreciation 105.66 152.92 Income Tax 17.95 28.25 Wealth Tax 0.21 - Net Profit for the year 76.04 120.00 Balance brought forward from last year 278.90 158.90 Adjustment relating to Fixed Assets 94.29 - Balance carried forward 260.66 278.90 2. DIVIDEND : In view of non-availability of sufficient profit, your Directors express their inability to recommend payment of dividend in respect of the year under review. 3. PERFORMANCE This was a tough year for stone industry and this is effected in sales growth number at Glittek Granites Limited. During the year under review, your Company has achieved turnover of Rs. 3428.20 Lacs in comparison to previous year Rs. 4036.06 Lacs which is a decline of 15.06% and earned a Profit of Rs. 76.04 Lacs in comparison to Rs. 120.00 Lacs in the previous year which is again a decrease of 36.63%. The reason for that is continuing global recession leading to downturn global trade and the unexpected natural calamity during the first half year of financial year hit the housing sector in USA 4. DIRECTORS'' RESPONSIBILITY STATEMENT : Your Directors state that : a) In the preparation of the annual accounts for the year ended March 31, 2015, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same; b) The Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2015 and of the profit of the Company for the year ended on that date; c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d) The Directors have prepared the annual accounts on a ''going concern'' basis; e) The Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and f) The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively. 5. CORPORATE GOVERNANCE The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. The Company has also implemented several best corporate governance practices as prevalent globally. The report on Corporate Governance as stipulated under the Listing Agreement forms an integral part of this Report. The requisite certificate from the Auditors of the Company confirming compliance with the conditions of corporate governance is attached to the report on Corporate Governance. 6. LISTING INFORMATION The Shares of the Company are listed with and traded in dematerialized form on Bombay Stock Exchange Ltd. (BSE). The Listing Fee has been paid to the Stock Exchange for the year 2015-16. The ISIN No. of the company is INE 741B01027 7. MANAGEMENT''S DISCUSSION AND ANALYSIS REPORT Management''s Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, is presented in a separate section forming part of the Annual Report. 8. CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES All contracts / arrangements / transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arm''s length basis. During the year, the Company had not entered into any contract / arrangement / transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions. Information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Annexure I in Form AOC-2 and the same forms part of this report. The Policy on related party transactions and dealing with related party transactions as approved by the Board may be accessed on the Company''s website at the link:

Director’s Report