The Directors hereby present the 14th Annual Report together with the
Audited Accounts for the period ended 31st March 2008.
The working of the Company during the year under review resulted in a
Net Profit of Rs. 1,06,047.00 (previous year Rs. (-) 4,06,385/-)
ABOUT THE INDUSTRY:
There has been no change in the Industry. There is stiff competition in
the trade. However, the Company could achieve a small profit.
The efforts of your Directors to improve profits of the company are on.
Mr. Iyer Hariharan and Smt. Pramilla Hariharan, Directors retire at the
ensuring Annual General Meeting and are eligible for re-appointment as
No Director of the company is disqualified under section 274(1) (g) of
the Companies Act, 1956, from being appointed as director of this
Mr. R. Gurubatham, Auditor of the company retires at the conclusion of
the ensuing Annual General Meeting and is eligible for re-appointment.
The Company has not accepted any deposits within the meaning of section
58 A of the Companies Act, 1956 read with Reserve Bank of Indias
Directions for acceptance of Deposits by Non-Banking Non-Financial
None of the employees of the company are drawing remuneration in excess
of the limits prescribed under section 217(2A) of the Companies Act,
1956, during the year under report.
DIRECTORS RESPONSIBILITY STATEMENT
Your Directors in terms of Section 217(2AA) of the Companies Act, 1956
i) All applicable accounting standards have been followed in the
preparation of the annual accounts.
ii) Your 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 of 31st March 2008 and of the profit of the company
for the 12 months period ended that date.
iii) Proper and Sufficient care has been taken 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,
iv) The annual accounts have been prepared on going concern basis as
stated in Note 21 of Notes on accounts.
CONSERVATION OF ENERGY; RESEARCH & DEVELOPMENT:
The information required under Section 217 (2) (e) is not applicable
since the operations of the Company are not energy incentive.
No foreign Exchange was involved during the year under report.
CASH FLOW STATEMENT AS PER LISTING AGREEMENT.
Cash Flow Statement is enclosed.
Your Directors wish to express their full appreciation for the
assistance and co-operation extended to us by its banker, Indian
Overseas Bank. Your Directors wish to thank the esteemed shareholders
for extending their unstinted co-operation and support in the
Management of the Company.
The Directors also wish to thank all the employees for their support
By Order of the Board.
Place : Coimbatore
Date : 25.08.2008 Anand Loganathan
Chairman of the Meeting