Kalpena Plastiks Limited,
The Directors are pleased to present the 25th Annual Report together
with the audited accounts for the year ended 31st March 2014.
Particulars 2013-2014 2012-2013
Sales & other Income 40.01 10426.23
Profit before Depreciation , Interest & Tax 9.30 14.85
Less : Depreciation 0.73 0.44
Interest 0.41 0.25
Profit before Tax 8.16 14.16
Less : Provision for Tax 2.08 2.48
Profit After Tax 6.08 11.68
Add: Profit brought forward from previous year. 35.52 23.84
Balance Carried to B/S 41.60 35.52
The Company has achieved a sales turnover (comprises mainly other
income) of Rs. 0.40 Crore during the FY 2013 -14 as against Rs. 104.26
Crore in the previous year. The Profit after tax for the year is Rs.
6.08 lacs as compared to profit of Rs. 11.68 lacs in the previous year.
Your Directors feel that there is a need to conserve resources for
future plans and regret their inability to recommend any dividend for
the current year.
Change of Registered Office
In order to manage the entire operations more economical and more
efficient, the Company has shifted its registered office from 3, Saheed
Nityananda Saha Sarani, Kolkata - 700 001 to Village: Bhasa, No. 14,
P.O. & PS: Bishnupur, Diamond Harbour Road, South 24 Paraganas, WB -
743503 with effect from 01st April, 2014. Due Compliances in this
regard have been completed.
Your Company has not accepted any fixed deposit during the year under
review in terms of Section 58A of the Companies Act, 1956 read with
Companies (Acceptance of Deposit) Rules, 1975 and hence no amount of
principal or interest was outstanding as at the Balance Sheet date.
In accordance with the provisions of the Companies Act, 2013, Mr. Deo
Kishan Kalwani (DIN 03363450),
Whole Time Director of the Company retires by rotation at the
conclusion of the forthcoming Annual General Meeting and being
eligible, has offered himself for re-appointment.
Mr. Kashi Nath Agarwal and Mr. Mohan Kumar Tiwary resigned from the
Directorship of the Company with effect from 03rd October, 2013. Your
Directors appreciate the service rendered by them to the Company.
Mr. Deo Kishan Kalwani (DIN 03363450), being appointed as Whole-Time
Director of the Company with effect from 01st April, 2014. Appropriate
resolution for his reappointment is being placed before you for your
approval at the ensuing Annual General Meeting.
Mr. Jitendra Tiwari (DIN 00228352) and Mrs. Ananya Dey (DIN 01297763),
being non-executive independent directors have submitted a declaration
to the Board that they meet the criteria of independence as provided
under section 149(6) of the Act. In compliance with the provisions of
section 149 read with Schedule IV of the Act, the appointment of these
directors as Independent Directors is now being placed before you for
Your Company has received from the Independent Directors Certificate of
Independence, as enumerated in section 149(6) of the Companies
The brief resume and other information of the eligible directors in
terms of the provisions of clause 49 of the Listing Agreement with
Stock Exchanges have been detailed elsewhere in the notice. Your
Directors recommends his reappointment as Director of your Company.
Directors'' Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
hereby confirm that:
- In preparation of the annual accounts, the appropriate accounting
standards have been followed. There are no material departures from
these applicable accounting standards.
- the directors have selected such accounting policies and applied them
consistently and made judgments 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 31st March, 2014 and its loss for the year ended on
- 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.
- The directors have prepared the annual accounts on a going concern
Auditors and Auditors'' Report
The Statutory Auditors of the Company, M/s Maloo & Co., Chartered
Accountants, Kolkata (Firm Registration No.310062E), retire at the
ensuing Annual General Meeting and have confirmed their eligibility and
willingness to accept office, if reappointed. The Audit Committee and
the Board of Directors recommends the re-appointment of M/s Maloo &
Co., Chartered accountants, as the Auditors of the Company upto the
conclusion of next Annual General Meeting.
As per the Cost Audit Order vide no. 52/26/CAB- 2010 dated November 6,
2012, issued by the MCA under Section 233B of the Companies Act, 1956,
the board had appointed M/s. D. Sabyasachi & Co., Cost Accountants,
Kolkata to carry out the cost audit of the Company for the financial
year 2012-13. The due date for filing the cost audit report for the
financial year 2012-13 was September 30, 2013. This report was filed
within the prescribed time in the XBRL format with the MCA.
Pursuant to section 148 of the Companies Act, 2013 and subject to
notification of rules thereunder, the board of directors on the
recommendation of the audit committee appointed M/s. D. Sabyasachi &
Co., Cost Accountants, Kolkata, as the Cost Auditors of the Company for
the financial year 2014-15. M/s. D. Sabyasachi & Co. have confirmed
that their appointment is within the limits and they are free from any
disqualifications as provided in section 141 of the Companies Act,
Particulars of Employees
None of the employees employed throughout the year or part of the year
who was in receipt of salary of Rs. 5,00,000 /- or more per month or
Rs. 60,00,000 /- or more per annum, therefore, no details have been
provided or required under section 217 (2A) of the Companies Act, 1956
read with the Company (Particulars of Employees) Rules, 1975.
The Company continued to attract and retain qualified and diligent
employees. Various senior and junior employees were recruited to add to
the existing strength. During the year, your company maintained
harmonious and cordial Industrial Relations.
Management Discussion and Analysis
In accordance with Clause 49 of the Listing Agreement with the Stock
Exchanges in India, the Management''s Discussion and Analysis Report for
the year under review, is presented in a separate section forming part
of the Annual Report and marked as Annexure ''A''.
A separate section on Corporate Governance, as stipulated under Clause
49 of the Listing Agreement with the Stock Exchanges in India, forming
part of the Annual Report and marked as Annexure ''B''.
A certificate from the Auditors of the Company M/s Maloo & Co.,
Chartered Accountants, Kolkata, confirming compliance of conditions of
Corporate Governance as stipulated under the aforesaid Clause 49, is
annexed to this Report.
Particulars of Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo.
Particulars required to be furnished under Section 217(1) (e) of The
Companies Act, 1956 read with Companies (Disclosure of Particulars in
the Report of Board of Directors) Rule, 1988.
i. Part A and Part B of the Rules, pertaining to conservation of Energy
and technology absorption, are not applicable to the Company
ii. Foreign Exchange earnings and outgo
Your Directors wish to convey their sincere appreciation to all of the
Company''s employees and workers at all level for their enormous
personal efforts as well as their collective contribution to the
Your Directors also wish to thank to all the shareholders, customers,
dealers, suppliers, bankers, financial institutions, Govt. authorities
and all the other business associates for the continued support given
by them to the Company and their confidence in its management.
Registered Office: By Order of the Board of Directors
14, Bishnupur, Diamond
Bhasa, South 24 PGS - 743503
Date: 29th May, 2014. (Chairman)