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Gujchem Distillers India Ltd.

BSE Live

Mar 06, 16:00
280.00 9.25 (3.42%)
Volume
AVERAGE VOLUME
5-Day
23
10-Day
14
30-Day
12
1
  • Prev. Close

    270.75

  • Open Price

    280.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

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Gujchem Distillers India is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2006

Director’s Report

Dear Members, The Directors present the Annual Report together with the audited statement of accounts for the year ended 31st March, 2014 which they trust will meet your approval. FINANCIAL RESULTS: The working results of the Company for the year ended 31st March, 2014 are briefly indicated below: (Rs. in Lacs) 2013-2014 2012-2013 Rs. Rs. Profit (Loss) before depreciation and others: -16.60 3.11 Less: Depreciation 6.05 6.09 - 22.65 -2.98 Less : Provision for Income Tax -0.64 -21.36 Profit for the year -22.01 18.38 Surplus in the statement of Profit & Loss Account brought forward 209.43 191.05 Balance of surplus carried forward 187.42 209.43 OPERATIONS AND FUTURE PROSPECTS The Company has been able to generate revenue by undertaking commission based operations during the year under review. The management is exploring various alternatives for the manufacture of the products for which Company has technical knowhow. DIVIDEND Your Directors regret their inability to recommend dividend for the year under review. DEPOSITS During the year under review, company has not accepted any deposits falling within purview of section 58A of the Companies Act, 1956. DIRECTORS Smt. Devika Navnitlal retires by rotation at the ensuing Annual General Meeting and she being eligible offers herself for re-appointment. Your Directors recommended her re-appointment. Pursuant to the provisions of the Companies Act 2013, Shri Jagat D. Shah whose period of office is liable to determination by retirement by rotation under the applicable provisions of the Companies act, 1956 is being appointed as an Independent Director at this meeting for the term of Three Consecutive years. Shri Shashikant D. Pandya and Shri Ashwini R. Devpura, Directors of the Company, who retires by rotation at the ensuing Annual General Meeting under the applicable provisions of the Companies Act, 1956 are being appointed as Independent Directors at this meeting for the term of Three Consecutive years. EMPLOYEES There are no employees in receipt of remuneration as mentioned in section 217(2A) of the Companies Act, 1956. Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 with respect to Director''s responsibility statement, it is hereby confirmed: 1. That the preparation of the annual accounts for the financial year ended 31st March, 2014 the applicable accounting standards have been followed along with proper explanation relating to material departures. 2. That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 the loss of the company for the year ended under review; 3. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company for the year ended under review; 4. That the Directors have prepared the accounts for the financial year 31st March 2014 on a going concern basis. CORPORATE GOVERNANCE Your Company has complied with the Corporate Governance practice mandated by Clause 49 of the Listing Agreement. A report on the same is given separately. STATUTORY AUDITORS: The Company''s Auditors M/s. Sharp & Tannan, Chartered Accountants will retire at the ensuing Annual General Meeting and being eligible offer themselves for reappointment. The members are requested to appoint M/s. Sharp & Tannan as Statutory Auditors till the conclusion of next Annual General Meeting and fix their remuneration. AUDITORS OBSERVATIONS The observations of the Auditors in their report are explained in the notes to the accounts which are self- explanatory. SECRETARIAL COMPLIANCE CERTIFICATE As per the provisions of section 383A of the Companies Act, 1956, the Secretarial Compliance Certificate from M/s. Umesh Parikh & Associates, Practicing Company Secretary is attached herewith. CONSERVATION OF ENERGY, TECHONOLOGY ABSORPTION, FOREIGN EXCHANG EARNINGS AND OUTGO Since there were no manufacturing activities during the year under review, details required under this clause are not applicable. There is no foreign exchange earnings and outgo during the year under review. ACKNOWLEDGEMENT Your Directors acknowledge with thanks the overall support extended by shareholders, employees, suppliers and customers. FOR AND ON BEHALF OF THE BOARD Place :Ahmedabad DEVIKA NAVNITLAL Date :9th May, 2014 CHAIRPERSON

Director’s Report