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Prabhav Industries Ltd.

BSE: 531855 | NSE: | Series: NA | ISIN: INE538J01012 | SECTOR: Steel - Medium & Small

BSE Live

Feb 04, 16:00
0.49 0.00 (0.00%)
Volume
No Data Available
1
  • Prev. Close

    0.49

  • Open Price

    0.49

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.49 (2275)

Prabhav Industries is not traded on BSE in the last 30 days

NSE Live

Jun 26, 15:55
1.65 0.05 (3.13%)
Volume
No Data Available
41,041
  • Prev. Close

    1.60

  • Open Price

    1.65

  • Bid Price (Qty.)

    1.65 (4550500)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2014 2011 2009 2008 1999

Director’s Report

Dear members, The Directors have pleasure in presenting the Report on the business and operations of the Company together with the Audited Accounts for the year ended 31st March, 2014. 1. FINANCIAL RESULTS: (Amt. in Rupees) Year Ended Year Ended Particulars March 31, 2014 March 31, 2013 Turnover 19,85,91,743.70 42,80,01,884.00 Other Income 46,85,096.81 3,63,36,805.00 Expenditure 25,51,72,026.98 46,30,83,301.00 Profit(Loss) Before Taxes (5,19,75,367.86) 12,55,388.00 Provision for Taxes Current Tax NIL 2,39,200.00 Deferred Tax NIL 4,30,550.00 Profit after Tax available for (5,19,75,367.86) 5,85,638.00 appropriation Dividend NIL NIL Balance carried forward to Balance (5,19,75,367.86) 5,85,638.00 Sheet 2. DEPOSITS: The Company has not accepted any deposit from Public. Therefore provisions of section 58(A) of Companies Act, 1956 and Companies (Acceptance of Deposits) Rules, 1975 are not applicable to the Company. 3. DIVIDENDS: In the view of long run interest of the company, your Directors do not recommend any dividend. 4. INSURANCE: Movable and fixed Assets are adequately insured. 5. CORPORATE GOVERNANCE: The Company has been following the principles and practices of good Corporate Governance and has ensured compliance of the requirements stipulated under Clause - 49 of the Listing Agreement with the Stock Exchanges. A detailed report on Corporate Governance along with Certificate issued by Practicing Chartered Accountants in terms of Clause - 49 of the Listing Agreement is attached which forms part of this Report. 6. MANAGEMENT DISCUSSION AND ANALYSIS: A report on Management Discussion and Analysis forms part of this Report and it deals with the Business, Operations and Financial Performance etc. 7. PARTICULARS OF EMPLOYEES: The company did not employ anybody drawing remuneration of Rs.60, 00,000/-or more per annum or Rs.5, 00,000/- or more per month and hence the question of providing information under section 217(2A) of the companies Act, 1956 does not arise. 8. DIRECTORS: Mr. Chandrakant Gaikwad, Directors will retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for reappointment. Your Directors recommend their reappointments for your approval. Mrs.Ami Jigar Motta, Mr. Nilesh Shivram Mistry and Mr. Ketan Babubhai Patel are being proposed to be re-appointed as Independent Directors in terms of the applicable provisions of the Companies Act, 2013. The Board recommends their re-appointment. 9. THE CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING/OUTGO: Information pursuant to 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 regarding conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo is provided separately as an annexure to the Director''s Report. 10. DIRECTORS RESPONSIBILITY STATEMENT: Pursuant to the provision of Sub-Section (2AA) of section 217 of the companies Act, 1956 your directors confirm: I. That in the preparation of the annual accounts for year ended on31st March, 2014, the applicable accounting standards had been followed with no departures there from; II. That the Directors had 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 31st March, 2014 and of the loss of the Company for that period; III. That the Directors had 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 ; IV. That the Directors had prepared the annual accounts for the year ended on 31st March, 2014 on a going concern basis. 11. AUDITORS: M/s. Sheetal Samriya & Associates, Chartered Accountants the present Auditors of the Company have furnished a certificate regarding their eligibility for re- appointment. You are requested to appoint auditors of the company and fix their remuneration. 12. AUDITORS REPORT: There are no qualifications or adverse remarks in the Auditors'' Report which requires any clarifications / explanations. The notes to accounts forming part of the financial statements are self explanatory. 13. ACKNOWLEDGEMENT: The Board wishes to thank the Employees, Business partners, Bankers, Clients and shareholders, for their continued support and for faith they have respond in the Company. For, Prabhav Industries Limited Date: 30/05/2014 SD/- Place: Vadodara Jayesh R. Thakkar Chairman

Director’s Report