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Ratnamani Agro Industries Ltd.

BSE: 507652 | NSE: | Series: NA | ISIN: INE679N01016 | SECTOR: Edible Oils & Solvent Extraction

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Ratnamani Agro Industries is not traded on BSE in the last 30 days

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Ratnamani Agro Industries is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2003

Director’s Report

DEAR MEMBERS, The Directors have pleasure in presenting their Report and Audited Accounts of the Company for the year ended March 31,2015. FINANCIAL RESULTS: Turnover: Current Period (In Rs.) Previous Year (In Rs.) 197000 402000 During the financial year 2014-15 the turnover of the company is lesser as compare to the previous year. The financials for the financial year 2014-15 is as follows:- PARTICULARS Current Previous Period Period 31.03.2015 31.03.2014 I. Revenue From Operations 197000 402000 II. Cost of Sales 83000 122000 III. Gross profit (I-II) 114000 280000 IV. Operating expenses: (1) Selling and marketing - - Expenses (2) Administrative expenses 114000 415000 (3) Depreciation and 1670 1964 amortization of assets (4) Foreign currency exchange - - gains(losses), net Total Operating Expenses 115670 416964 V. (1) Results from operating (1670) (136964) activities (III - IV) (2) Gains / (Loss) on sale of - - long-term investments (3) Other Income 4000 175000 (4) Other expenses: - - (i) finance costs - - (ii) Others - - (5) Long Term Investment - Written off VI. Income before (2330) (38036) income tax (1) Current Income Tax - - (2) Deferred Tax Liability / - - (Asset) VII. Net Profit After Tax (2330) (38036) (3) Others - - VIII. Profit for the (2330) (38036) period (VI-VII) OPERATIONS: * Standalone financial performance The Company has successfully achieved several milestones in the past and has continued its journey in this year too in spite of the difficult phase through which most of the Indian infrastructure industry is passing through. During the Period under review the total revenue has decreased from 402000.00 to Rs. 197000.00. The year under review has been another very tough year for the Infrastructure Industries which is passing through recessionary phase in last three years. Modest growth, coupled with delays in settlement of claims/ litigations with the clients, slower industrial growth, high interest rate, delays in projects, delay in payments from clients etc. has continuously put the company into stress. Though, the Company is taking all the setbacks positively and believes to sustain corporate stability with low cost and high quality work. We strongly believe that infrastructure sector is bound to grow at a very good pace in the coming financial year. In spite of the above, your company has achieved decent Turnover of Rs. 197000, during the year 2014-15. This indicates itself that the company''s management has proved its ability to retain business, in fact added new customers, in tough times of industry. DIVIDEND: * Considering the losses from last few years the directors of company has not recommended any dividend for the current Period. TERM DEPOSITS: * During the Period under review, your Company has not accepted any deposit under Section 58A of the Companies Act, 1956 read with Companies (Acceptance of Deposits) Rules, 1975. Information under Section 196-202 of Companies Act, 2013 and Rule 3-10 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 * None of the employees was in receipt of remuneration exceeding the limit specified under section 196-202 of Companies Act, 2013. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES: * All related party transactions that were entered during the financial year were in the ordinary course of the business of the Company and were on arm''s length basis. There were no materially significant related party transactions entered by the Company during the year with Promoters, Directors, Key Managerial Personnel or other persons which may have a potential conflict with the interest of the Company DIRECTOR''S RESPONSIBILITY STATEMENT: Pursuant to the requirements of Section 134 (5) of the Companies Act, 2013, it is hereby confirmed: * that in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; * that 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 March 31, 2015 and of the profit or loss of the Company for the period under review; * proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; * That annual accounts of the Company have been prepared on a ''going concern'' basis. * That internal financial controls have been laid down to be followed by the company and that such controls are adequate and were operating effectively. * That proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. AUDITORS * The Board has proposed the appointment of M/S P. Dalai & Co., Chartered accountants as a Statutory Auditor of the Company until the conclusion of Next Annual General Meeting of the company at remuneration as the Board of Directors may determine, subject to the approval of the shareholders in the Annual General Meeting of the company; CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE EARNING & OUTGO. * The information required under the Companies Act, 2013 with respect to conservation of energy, technology absorption and foreign exchange earnings/outgo is appended hereto as Annexure : A and it forms part of this Report. EMPLOYEE RELATIONS * The employee relations in the Company continued to be positive. Information as per Section 217(2A) (134) of the Companies Act, 1956 (the Act) read with the Companies (Particulars of Employees) Rules, 1975 forms part of this Report. As per the provisions of Section (136) 219(1) (b) (iv) of the Act, the Report and Accounts are being sent to the shareholders of the Company excluding the statement on particulars of employees under Section 217(2A) (134) of the Act. Any shareholder interested in obtaining a copy of the said statement may write to the Secretarial Department at the Registered Office of the Company. SUBSIDIARIES * To Closure of the Subsidiaries companies an application is to be made U/s 560 of the companies Act to the Registrar of Companies, to strike off the name of the Subsidiary Companies. TRADE RELATIONS * Your Directors wish to record appreciation of the continued unstinted support and co operation from its Customers, suppliers of goods/services, clearing and forwarding agents and all others associated with it. Your Company will continue to build and maintain strong association with its business partners. CORPORATE GOVERNANCE * As per clause 49 of the Listing Agreements entered into with the Stock Exchanges, Corporate Governance Report with auditors certificate thereon and Management Discussion and Analysis are attached and form part of this report. As per clause 55 of the Listing Agreements entered into with the Stock Exchanges, a Business Responsibility Report is attached and forms part of the annual report 13. VIGIL MECHANISM: * The Company has adopted a Vigil Mechanism in form of whistle blower policy. It aims at providing means to employees to raise complaints and to receive feedback on any action taken and seeks to reassure the employees that such vigil mechanism shall provide for adequate safeguards against victimization of directors and employees who avail of such mechanism and also make provisions for direct access to the Chairperson of Audit Committee in exceptional cases. This neither releases employees from their duty of confidentiality in the course of their work nor can it be used as a route for raising malicious or unfounded allegations against people in authority and / or colleagues general. 14. RISK MANAGEMENT: * The Company has already in place, a Risk Management Plan. Brief details of various types of risk are provided in the Management Discussion and Analysis section of the Annual Report. 15. Acknowledgements * The Directors thank the Company''s customers, vendors, investors, business associates, bankers for their support to the company. The Directors appreciate and value the contributions made by every member of the Green earth family across the country. 16. AUDITORS & AUDITORS REPORT Auditors'' Qualifications and Management''s Reply: 17. PARTICULARS OF EMPLOYEES None of the employees exceed the limit of drawing remuneration, therefore Provisions of that not applicable to the company. 18. EXTRACT OF ANNUAL RETURN:The Extract of Annual Return of the Company in Form MGT-9 for the Financial Year ended 31st March, 2015 is given in Annexure - C and forms part of the Directors'' Report For & on behalf of the Board of Director Sd/- Sd/- Sd/- (Rokibhai Vaghela) (Ripal Chauhan) (Bhagabhai Bharwad) Director Director Director DIN: 05201644 DIN: 05346014 DIN: 05346010 Place: AHMEDABAD Date: July 10, 2015

Director’s Report