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Mayur Uniquoters Ltd.

BSE: 522249 | NSE: MAYURUNIQ |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE040D01038 | SECTOR: Plastics

BSE Live

Dec 03, 16:00
512.80 11.15 (2.22%)
Volume
AVERAGE VOLUME
5-Day
10,058
10-Day
6,536
30-Day
7,391
12,786
  • Prev. Close

    501.65

  • Open Price

    505.95

  • Bid Price (Qty.)

    510.60 (5)

  • Offer Price (Qty.)

    514.15 (211)

NSE Live

Dec 03, 15:57
513.10 10.25 (2.04%)
Volume
AVERAGE VOLUME
5-Day
126,542
10-Day
102,064
30-Day
75,757
230,862
  • Prev. Close

    502.85

  • Open Price

    503.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    513.10 (1300)

Annual Report

For Year :
2018 2017 2016 2015 2013 2012 2011 2010 2008

Director’s Report

The Directors have pleasure in submitting their Report for the year ended 31st March 2008: (Rs. in Lakhs) Particulars 2007-08 2006-07 Total Income 9,077.04 6,671.19 Total Expenditure 8,055.28 6,047.07 PROFIT BEFORE INTEREST, DEPRICIATION 1,021.76 624.12 AND TAX (PBIDT) Less: Interest 82.47 77.45 Less: Depreciation 138.59 152.09 PROFIT BEFORE TAX 800.70 394.58 Less: Provision of Taxation Including Deferred Tax 289.68 129.54 PROFIT AFTER TAX (PAT) 511.03 265.04 Add: Balance Brought Forward From Previous Year 1,307.42 1,141.64 Profit Available For Appropriation 1,818.45 1,406.68 APPROPRIATION: Transferred To General Reserve 52.00 13.00 Equity Dividend (including Proposed Dividend) 100.17 75.00 Corporate Tax On Dividend 17.02 11.26 Balance Carried To Balance Sheet 1,649.25 1,307.42 Previous year figures have been re-grouped and rearranged wherever considered necessary. State of Companys Affairs Indias growth story continues to pay rich dividends to manufacturing sector. With a leadership position in the Synthetic Leather Market, your Company had another satisfactory year with Net Profits registering a whopping growth of nearly 93%. With the Current Sales (including Excise) of 97 Crores as on March 31, 2008, the Company is well poised to cross the magical figure of Rs. 100 crores in the following year. Your Company is leveraging upon lower labour cost as compare to developed countries and this unleashes an opportunity to enter into high quality conscious European and American countries. We are confident enough that in the next two-three years, our Company will have a marked presence in these markets, which will boost our profitability. Your Company is committed to offer the most competitive prices with the overall parameters set by the general market conditions. Yours Directors perceive that the business of the Company stands on a sound platform and is running well. MULs business is supported by a strong back- end in procurement, manufacturing, product development, IT and human resource Management. Reserves The Board has transferred Rs. 52 Lakhs to the General Reserves for the financial year 2007-08, in compliance with the relevant provisions of the Companies Act, 1956. Dividend Your Company strives to balance the twin requirements of providing an appropriate return to the Shareholders while simultaneously retaining a reasonable portion of the Profit to maintain healthy financial Leverage with a view to support and sustain future growth. Keeping this in mind, the Directors recommend a Final Dividend of Rs. 1/- per Equity Share for the year ended March 31, 2008 (Previous year Rs. 0.50/- per Equity Share). If approved by the Shareholders at the Annual General Meeting the Dividend will absorb Rs. 50.17 Lakhs. The Dividend Distribution Tax borne by the Company will amount to Rs. 8.53 Lakhs. This Dividend is in addition to the Interim Dividend of Rs. 1/- per Equity Share that had already been declared and paid during the period under review. The aggregate Dividend for the year will amount to 20% (Rs. 2 per Share) as against 15% (Rs. 1.50) last year. Material Changes and Commitments During the year 2007-08, the Company has come up with additional Matex Coating Line, thereby increasing its installed Capacity by 48 Lakhs Linear Meters per annum. The Company has hired team of Consultants, individually having specialization in Coating Line, R&D, TQM, etc. Capital Structure During the year 2007-08, the Company has issued 8,00,000 Preferential Warrants Convertible into Equity Shares at its Board Meeting held on August 16, 2007. Your Company allotted 2,06,600 Equity Shares at the Board Meeting held on 28th February 2008 upon conversion of equivalent number of Warrants. With this addition, the Paid up Capital of the Company now stands at Rs. 5,20,66,000. Directors Appointment of Additional Director Mr. Priyavadan Raval was appointed as Additional Director at the Board Meeting held on June 17, 2008. He is being designated as Technical Director. The details are furnished in Explanatory Statement annexed to the Notice calling AGM. Reappointment- CMD Mr. Suresh Kumar Poddar, Chairman and Managing Director of the Company, whose tenure ceases on 27th July 2008, re-appointed as Chairman and Managing Director for further three years w.e.f. 28th July 2008. The details are furnished in Explanatory Statement annexed to the Notice calling AGM. Retirement by Rotation Mr. Manav Poddar, Director of the Company whose period of office is liable to retire by rotation pursuant to the provisions of Companies Act, 1956 and Article 139 of the Articles of Association of the Company retires by rotation and being eligible offer himself for re-appointment. A brief Resume of Director (Mr. Manav Poddar) eligible for re-appointment along with the additional information required under Clause 49 (VI)(A) of the Listing Agreement is included in Report of Corporate Governance. Directors Responsibility Statement Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, your Directors confirmed that: i. in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed; ii. the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give true and fair view of the State of Affairs of the Company at the end of the financial year ended 31st March 2008 and of profit of the Company for that year; iii. the Directors had 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 and for preventing and detecting fraud and other irregularities; iv. the Directors have prepared the Annual Accounts on a going concern basis. Listing of the Shares Your Companys shares are listed at Bombay Stock Exchange Ltd. and the Listing Fee for the year 2008-09 had been paid to the BSE Ltd. Fixed Deposits As in past, the Company has not accepted any Fixed Deposits from public, shareholders or employees during the period under review. Delisting Your Company had applied for Delisting of its Securities from Calcutta: Stock Exchange Association Ltd. (CSE), since February 2005 which was pending for long. The CSE has granted In-Principal approval in regard to the same, and the Company is hopeful of getting formal approval of delisting shortly. Auditors The Auditors, M/s Madhukar Garg & Co., Chartered Accountants, retire at the;conclusion of the Fifteenth Annul General Meeting and being eligible, has offered themselves for re-appointment. The Company had received letters from M/s Madhukar Garg & Co., Chartered Accountants to the effect that their re-appointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956 and that they are not disqualified for such reappointment within the meaning of Section 226 of the Act. The qualifications/observations of the Auditors are explained wherever necessary in appropriate notes to Accounts. Corporate Governance The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement, along with a Certificate of Compliance from the Auditors, forms part of the Annual Report. Particulars of EmpSoyees The particulars of employees, as required under Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees), Rules, 1975, as amended, the names and other particular of employees are set out in the Annexure I to the Directors Report. Energy Conservation, Technology Absorption and Foreign Exchange Earnings and Outgo The details are required under the Companies (Disclosures of Particulars in Report of Board of Directors) Rules, 1988 are given as Annexure II to the Directors Report. Secretarial Compliance Report As a measure of good Corporate Governance practice, the Board of Directors of the Company appointed Mr. Manoj Maheshwari, Practicing Company Secretary, to conduct Secretarial Audit on Compliances of the Company. The Secretarial Compliance Report for the financial year ended 31st March 2008 is provided in Annual Report. The Secretarial Compliance Report confirms that the Company has complied with all the applicable provisions of the Companies Act, 1956. Environment, Occupational Health and Safety Mayur Uniquoters Limited recognises the importance of managing effectively and seeking continual improvement in occupational health, safety and environment matters as an integral part of business activities. The management is committed to attain goals like becoming water positive, carbon neutral and with developing green zones in and around our manufacturing plants and offices. MUL aspires for setting up an innocuous environment by working on standards that are aligned to International standards viz. ISO 9001, ISO 14001 and OHSAS 18001. Continuous training sessions are held by our experts, on both, on the job and off the job, which acts as a guiding force to mitigate risks associated while working on machines. By adopting such strategies, your Company not only maintains a safe and secured working environment but also saves on huge costs on compensation by purging on accidental risks. Acknowledgement Your Directors would like to express their appreciation for assistance and co-operation received from the bankers, Government Authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the executives, staff and workers of the Company. For and behalf of the Board of Directors Suresh Kumar Poddar Chairman and Managing Director Jaipur 17th June, 2008

Director’s Report