Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Associate Partners:

  • Kotak Mutual Fund
  • Pharmeasy
  • Indiabulls
  • SBI

Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
SBI
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Mohota Industries Ltd.

BSE: 530047 | NSE: MOHOTAIND | Series: NA | ISIN: INE313D01013 | SECTOR: Textiles - Composite Mills

BSE Live

Jan 24, 16:00
7.37 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
31,617
10-Day
30,930
30-Day
16,773
13,278
  • Prev. Close

    7.37

  • Open Price

    7.72

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    7.37 (327)

NSE Live

Jan 24, 15:42
7.50 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
53,894
10-Day
64,139
30-Day
40,723
3,161
  • Prev. Close

    7.50

  • Open Price

    7.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    7.50 (500)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Director’s Report

The Directors submit their Report and the Audited Accounts for the financial year ended 31st March, 2008. FINANCIAL RESULTS As at 31st As at 31st March, 2008 March, 2007 (Rs. in Lacs) (Rs. in Lacs) Gross Revenue 15542.93 12736.96 Gross Profit (before interest, depreciation and tax) 814.08 1067.42 Less: Interest 410.08 263.99 Depreciation 500.51 486.21 Profil/(Loss) before Tax (96.51) 317.22 Less: Provision for Taxation Current - 35.00 Deferred (25.70) (18.86) Fringe Benefit Tax (2.30) 2.35 for earlier year - 15.65 Net Profit/(Loss) available for appropriation (124.51) 283.08 Appropriation Transfer to General Reserve (124.51) 283.08 DIVIDEND In view of the loss during the year, the Board of Directors has not recommended any Dividend on the paid up Equity share Capital of the company for the year. OPERATIONS During the financial year under review, your Companys turnover has increased to Rs.15482 lacs from Rs.l2662 lacs in the corresponding previous year mainly oa account of increased export of yarn as Merchant Exporter. However, company has incurred Net loss of Rs.124.51 due to substantial increase in raw material price mainly VSF, Cotton, Stores spares cost and continuous hike in interest rate both on Working capital and term loan. Again, due to unprecedented strengthening of rupee against dollar, export demand dwindled which in turn resulted in flood of supply in domestic market resulting in lower realization. EXPORTS The Companys export during the year calculated on FOB basis amounted to Rs.62.66 crore as against Rs.34.06 crore in the immediately preceding year, registering robust growth of 80%. CURRENT AND FUTURE OUTLOOK Though 2007-08 was a challenging year for your Company, but current year 2008-09 seems to be more challenging and difficult one. A host of domestic as well as global factors viz. high inflation, spiralling crude prices, high interest rates, slow down in US as well as in India too, tremendous increase in raw material price viz. Cotton, PSF, increase in Dyes and Chemical Cost and power tariff, increased wages due to inflation, volatility in foreign currency exchange rates vis-a-vis Indian rupees etc. are going to put pressure on Companys performance. In such an unpredictable environment, it is very difficult on your Companys part to make a decision regarding further expansion or downsizing the ongoing expansion project under TUFS at Burkoni. MODERNISATION / EXPANSION UNDER TUFS Your Company has incurred capital expenditure of Rs.2843.67 lacs on establishing a new state of the art Airjet Weaving Unit at village - Burkoni, Tah. - Hinganghat and for modernization / upgradation of existing Hinganghat unit and it has been financed through internal accruals and term loan to the extent of Rs.2398 lacs taken from SB1 & BOI under TUFS. CDM PROJECT ACTIVITY In the previous year, company has installed Biomass (Rice Husk) fed boilers in view of availing Carbon Credit by meeting the requirements of CDM (Clean Development Mechanism) of the UNFCCC. The CDM is a global mechanism under the Kyoto Protocol that enables the project developer to receive Carbon Credit towards their Green House Gas Emission reduction initiatives. This project activities is almost completed and due for registration. Your company hopes to generate substantial revenue in future from sale of CER Certificate. DEPOSITS The Company has accepted Deposits U/s 58A of the Companies Act, 1956 and are within the rules as prescribed under the Companies (Acceptance of Deposit) Rules, 1975. DIRECTORS In accordance with the provisions of the Companies Act, 1956 and the Companys Articles of Association, Shri Vinay Kumar Mohota and Shri Shantilal B. Singhavi, Directors of your company, retire by rotation at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. AUDITORS Your Companys Auditor, M/s. Batliboi & Purohit, Chartered Accountants, Mumbai retire at the ensuing annual general meeting and being eligible, offer themselves for re-appointment. AUDITORS REPORT The observations made in the Auditors Report are dealt with separately in the Notes to the Profit and Loss Account and the Balance Sheet in Schedule Q of the Accounts. These are self explanatory and do not call for any further comments. COST AUDITORS The Board of Directors have re-appointed M/s. G. R. Paliwal & Co., Cost Accountants, Nagpur as the Cost Auditor of the Company under Section 233B of the Companies Act, 1956 for the year 2008-09. SAFETY AND POLLUTION CONTROL Your company accords priority to the health and safety of its employees and surroundings. It has been taking proper care in complying with all the statutory requirements relating to safely, environment and pollution control. DIRECTORS RESPONSIBILITY STATEMENT In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 as amended by companies (Amendment) Act, 2000, your Directors state, a) that in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanations relating to material departures; b) that 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 at the end of the financial year ended on 31.03.2008 and of the profit of the company for the year ended on 31.03.2008; c) that the directors have 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 and; d) that the directors have prepared the annual accounts on a going concern basis. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO Information required under Section 217(1 )(e) of the Companies Act, 1956 read with rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is given in the Annexure I which forms an integral part of this report. CORPORATE GOVERNANCE Pursuant to clause 49 of the Listing Agreement, the Report on the Corporate Governance, together with Auditors Certificate thereon an annexed to this report are Annexure II & III respectively. PERSONNEL The company as at present does not have any employee drawing salary in excess of the limits specified under Section 217 (2A) of the Companies Act, 1956 read with rules thereunder. ACKNOWLEDGEMENTS The Directors wish to place on record, their appreciation and gratitude for all the co-operation extended by Government Agencies, Bankers, Financial Institutions and Shareholders. The Directors also record their sense of appreciation for the sincere services rendered by all the Executives and staff of the company and for their valuable contribution in the working of the company. By the order of the Board Place: HINGANGHAT Dr. RANCHHODDAS MOHOTA Dated: 30.06.2008 CHAIRMAN

Director’s Report