Kiran Print Pack

The Members,
 
 Kiran Print Pack Limited,
 
 The Directors have pleasure in presenting the 25th Annual Report of
 your company together with the Audited Accounts for the year ended 31st
 March 2014.
 
 FINANCIAL HIGHLIGHTS
 
 Your company''s performance during the year as compared with the
 previous year is summarized as below:
 
                                                           (Rs. in Lacs)
 
                               For the year ended     For the year ended
                               31st March, 2014       31st March, 2013
 
 Revenue from operations              21.19                 37.99
 
 Other income                         3.09                  3.00
 
 Profit /(Loss)before exceptional 
 items and tax                        (21.45)               (8.80)
 
 Profit / (Loss) for the year         44.78                 (54.62)
 
 Balance Carried Forward to 
 Balance Sheet                        (152.40)              (197.19)
 
 Basic & Diluted EPS                  .90                   (1.09)
 
 
 OPERATIONS:
 
 The turnover /income from operation of the Company have been recorded
 at Rs. 21.19 Lacs during the year under review, operating income
 reduced in comparison with previous Financial Year recorded at Rs.37.99
 Lacs of the Company.
 
 The turnover and operating margins in an environment of lower demand
 has put severe pressure on the Company''s turnover and profitability.
 During the year under review, the continuous efforts of the Company to
 streamline and optimize its operations.
 
 DIVIDEND:
 
 In view of the losses incurred by the Company, your Directors have not
 recommended any dividend for the financial year ended 31stMarch 2014.
 
 MATERIAL CHANGE:
 
 There was no material change affecting the financial position of the
 company between the date of Balance Sheet and the date of this Report.
 
 CHANGE OF THE REGISTERED OFFICE
 
 The Board of Directors at their meeting held on 30th May 2013, approved
 the change of Registered Office of the Company to W- 166 E, TTC
 Industrial Area, MIDC Pawane, Navi Mumbai- 400709 and same was approved
 by the members of KIRAN PRINT PACK LIMITED the resolutions processed or
 conducting by way of Postal Ballot and result declare on 9thJuly 2013.
 
 SHARE CAPITAL
 
 During the year under review, your Company''s Authorized Share Capital
 has remain unchanged at Rs.6,00,00,000 (Rupees Six Core) comprising
 60,00,000 Equity Shares of Rs.10/- each.
 
 During the year under review, your Company''s Paid-up Equity Share
 Capital has also remained unchanged at Rs.5,00,29,000 (Rupees Five
 Crore Twenty Nine Thousand) comprising 50,02,900 Equity Shares of 10/-
 each.
 
 SUBSIDIARY COMPANIES:
 
 The Company does not have any subsidiary as on 31st March, 2014.
 
 EMPLOYEES STOCK OPTION SCHEME(S):
 
 During the year ended 31st March 2014. The Company has not floated any
 scheme in relation to Employees Stock Option(s) and no such further
 plans have been initiated at present in this regards.
 
 RISK MANAGEMENT:
 
 The Company has established system and framework to control the risk
 management. Under this system management identified across all business
 processes of the Company on continuous basis and when management
 identified, these risks are systematically catego- rized and proper
 procedures for risk assessment and minimization thereof have been laid
 down by the management of the Company in accordance with the
 Company''s exposure to the all types of business risks involved in the
 operations of the Company.
 
 PUBLIC DEPOSITS:
 
 The Company has not accepted any public deposits during the financial
 year under section 58A of the Companies Act, 1956 (correspond- ing to
 section 73 of the Companies Act, 2013) read with Companies (Acceptance
 of Deposits) Rules, 1975.
 
 PARTICULAR OF EMPLOYESS:
 
 Information as per Section 217(2A) of the Companies Act, 1956 read with
 the Companies (Particulars of Employees) Rules, 1975 as amended from
 time to time is not given, as there is no employee drawing salary more
 than that mentioned under the said section.
 
 EMPLOYEE RELATIONS:
 
 Your Directors wish to place on record its appreciation of the
 contribution made by all the employees in ensuring the highest levels
 of performance and growth that your company has achieved during the
 year.
 
 SAFETY, HEALTH AND ENVIRONMENT:
 
 Your Company recognizes its role in health and safety, as well as its
 responsibility towards environment and society. Your Company''s goals
 are: no accidents, no injuries to people and no damage to environment.
 Safety and security of personnel, assets and environmen- tal protection
 are also on top of the agenda of the Company. Clean environment and
 sustainable development integrated with the business objective is the
 focus of operations of the Company.
 
 DIRECTORS:
 
 Mr. Karan Kamal Mohta, director of the company retires by rotation and
 being eligible offers himself for re-appointment.
 
 Mr. Karan Kamal Mohta was appointed as an Managing director of the
 company and Mrs. Sudha Mohta (lady director) was appointed as an
 additional director of the company on Board Meeting dated 14th August
 2014 and same was recommended to shareholder approval in forthcoming
 Annual General Meeting .
 
 (We regret to informed you that Mr. Kamal Kumar Mohta, Managing
 Director of the company was suffering from major ailment and passed
 away on 27th April 2014 and he was associated with the company since
 inception.)
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 As required under Section 217(2AA) of the Companies Act,
 1956(corresponding to section 134(5) of the Companies Act,2013) it is
 hereby stated that:
 
 1. In the preparation of the annual accounts, the applicable accounting
 standards have been followed along with the proper explana- tion
 relating;
 
 2. The Directors have selected such accounting policies and applied
 them consistently except as otherwise stated in the Notes on Accounts
 and made judgments and estimate that are reasonable and prudent so as
 to give a true and fair view of the state of affairs of the Company as
 at end of the financial year (March 31st, 2014) and of the loss of the
 Company for the Period under review;
 
 3. The Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provision of all applicable laws for safeguarding the assets of the
 Company and for preventing and detecting fraud and other
 irregularities;
 
 4. The Directors had prepared the accounts on a going concern
 basis; and
 
 5. The Directors have laid down internal financial controls to be
 followed by the company and that such internal financial controls are
 adequate and operating effectively.
 
 AUDITORS:
 
 The present Auditors of your Company, M/s. ASL & Co., Chartered
 Accountants, Mumbai, hold office until the conclusion of this Annual
 General Meeting. They have signed their willingness to accept
 re-appointment and have further confirmed their eligibility under
 Section 141 of the Companies Act, 2013
 
 AUDITORS'' REPORT & NOTES ON ACCOUNTS
 
 The observations made by the Auditors are self-explanatory and have
 also been further amplified in the Notes to Accounts.
 
 AUDIT COMMITTEE
 
 The Company has an Independent Audit Committee, which is headed by Mr.
 Dwarkadas Deokishan Bagri and comprises of Mrs. Sudha Mohta, Mr. Sanjay
 Kumar Loiwal as members The Audit Committee of the Company has been
 constituted as per provision of Section 177 of the Companies Act, 2013
 (corresponding to section 292A of the Companies Act, 1956) and clause
 49 of the Listing Agreement.  The Audit Committee of the Company is
 entrusted with the responsibility to supervise the Company''s internal
 controls and financial.
 
 CORPORATE GOVERNANCE REPORT
 
 Pursuant to clause 49 of the Listing Agreement with Stock Exchange
 Corporate Governance Report, the certificate as per the require- ment
 of Clause 49 (V) of the Listing Agreement by the CEO/CFO, and
 Certificate regarding Compliance of conditions of Corporate Governance
 are annexed to the Annual Report.
 
 EMPLOYEES WELFARE
 
 The company''s focus on welfare and improving the quality of lives of
 its people has continued as before. In order to improve the standard of
 living of our employees, we have been providing educational assistance
 to the children of employees. Safety in all aspects of work and even
 personal safety is of utmost importance and the company is taking all
 possible steps to ensure a safe working condition for all employees.
 
 MANAGEMENT DISCUSSION AND ANALYSIS
 
 As required by Clause 49 of the Listing Agreement with the stock
 Exchanges, a Management Discussion and Analysis is appended to the
 Annual Report.
 
 CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:
 
 The information relating to the conservation of energy, technology
 absorption and foreign exchange earnings and outgo as required to be
 disclosed under the Companies (Disclosure of Particulars in the Report
 of the Board of Directors) Rules 1988, is given in Annexure forming
 part of this Report.
 
 ACKNOWLEDGEMENT
 
 Your Directors would like to acknowledge and place on record their
 sincere appreciation to all stakeholders - Clients, Financial
 Institutions, Banks the Company''s valued investors and all other
 business partners for their continued co-operation and excellent
 support received during the year. Your Directors recognize and
 appreciate the efforts and hard work of all the employees of the
 Company and their continued contribution to its progress. and look
 forward to their continued support in the future.
 
                        For and on behalf of the Board of directors
 
 Place: Navi Mumbai                            Mr.Karan Kamal Mohta
 Date : 14th August, 2014                   Chairman of the Meeting
                                                (Managing Director)
                                                  (DIN : 02138590 )