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Hisar Spinning Mills Ltd.

BSE: 521068 | NSE: | Series: NA | ISIN: INE689E01014 | SECTOR: Textiles - Spinning - Cotton Blended

BSE Live

May 13, 16:00
20.50 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
360
10-Day
390
30-Day
587
100
  • Prev. Close

    20.50

  • Open Price

    20.50

  • Bid Price (Qty.)

    20.50 (900)

  • Offer Price (Qty.)

    20.85 (100)

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)

Hisar Spinning Mills is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2006

Director’s Report

Dear Members, The Directors have great pleasure in presenting the 21st Annual Report together with the Audited Statement of Accounts of your Company for the year ended 31st March, 2014 FINANCIAL RESULTS : (Rs. in Lacs) Current Year Previous Year (2013-2014) (2012-2013) Sales & Other Income 2116.37 1756.52 Profit Before Interest & Depreciation 281.63 364.74 Less Interest & Financial Exp. 34.38 44.05 Less Depreciation, 110.65 137.09 Profit Before Exceptional & Extra Ordinary Items 136.60 183.60 Exceptional Items 0.00 5.18 Extra Ordinary Items 0.00 (47.02) Profit Before Tax 136.60 141.76 Provision for Tax 16.87 28.36 Profit After Tax 119.73 113.40 PAST PERFORMANCE The Turnover and other income of the Company has increased by around 20.49%, during the year, as compared to previous year but profit before tax shows a decline of 25.60% over previous year, because of shrink in margins due to slowdown in economy. However, the company hopes to perform better in the coming years. PARTICULARS OF EMPLOYEES During the year there was no employee in respect of whom information as per section 217 (2A) of the Companies Act, 1956 is required to be given in the director''s report. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: As required by the companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 the relevant data pertaining to conservation of energy, technology absorption and foreign exchange earning and outgo are given in annexure forming part of this report. FIXED DEPOSITS: The company has not accepted any deposit within the meaning of section 58-A of the companies Act, 1956, and the Companies (Acceptance of Deposits) Rules. 1975. LISTING OF SECURITIES: The Securities of the Company is listed on Stock Exchange at Mumbai. The Listing Fees have been paid up to 31 03 2015 INSURANCE: All the properties and insurable interests of the company including Building, Plant & Machinery and Stock wherever necessary and to the extent required have been properly insured. AUDITORS REPORT The points stated in the Auditors Report are self explanatory & needs no comments. DIRECTORS Mr. M L. Kansal resigned from the directorship of the company w.e.f 31/03/2014. Your directors welcomed the contribution made by him during his tenure. Mrs Sapna Kansal was appointed as director to fill the casual vacancy caused by the resignation of Mr. M L Kansal. Your directors welcomed her appointment as director on the Board of the company. In accordance with the requirement of the Companies Act, 1956 and the Articles of Association of the Company Sh. Vikas Gupta & Mrs Sapna Kansal retires by rotation and being eligible offer themselves for re-appointment. CORPORATE GOVERNANCE The Corporate Governance Report is annexed herewith along with Auditor''s Certificate. AUDITORS The term of present Auditors of the company M/s. Jain & Anil Sood, Chartered Accountants, Ludhiana expires at the conclusion of the ensuing Annual General Meeting and they are eligible for reappointment. COST AUDITORS'' APPOINTMENT As per the requirement of the Central Government, and in pursuance of Section 233B of the Companies Act,1956 your company carries out an audit of cost records, Subject to the approval of the Central Government, your Director have appointed M/s Satpaul Saini & Associates, to audit the cost accounts of the company for the financial year 2014 DIRECTORS RESPONSIBILITY STATEMENT (i) That in the preparation of the annual accounts, the applicable accounting standards had been followed. (ii) That the directors had selected such accounting policies and applied them consistently and made judgment 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 of the company for that year: (iii) That 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. (iv) That the directors had prepared the annual accounts on a going concern basis. Acknowledgement: Yours Directors express their sincere appreciation for all around assistance, cooperation and guidance from the Lenders Punjab National Bank, Small Industries Development Bank of India (SIDBl) and State & Central Govt. Authorities. Place : Chandigarh For and On Behalf of the Board Dated : 27.05.2014 (T.N. Goel) (Gopal Krishan Gupta) Director Managing Director

Director’s Report