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
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
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.
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
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.
The points stated in the Auditors Report are self explanatory & needs
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
The Corporate Governance Report is annexed herewith along with
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
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
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