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Sanathnagar Enterprises Ltd.

BSE: 509423 | NSE: BAKELHYLAM | Series: NA | ISIN: INE367E01033 | SECTOR: Miscellaneous

BSE Live

Jun 11, 16:00
29.05 -0.05 (-0.17%)
Volume
AVERAGE VOLUME
5-Day
946
10-Day
2,682
30-Day
4,904
627
  • Prev. Close

    29.10

  • Open Price

    29.65

  • Bid Price (Qty.)

    29.05 (91)

  • Offer Price (Qty.)

    29.65 (100)

NSE Live

Dec 27, 11:22
4.00 0.00 (0.00%)
Volume
No Data Available
800
  • Prev. Close

    4.00

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

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Sanathnagar Enterprises is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2006

Director’s Report

Dear Shareholders, The directors have a pleasure in presenting the Annual Report along with the audited accounts of the Company for the financial year ended 31st March 2014. FINANCIAL RESULTS Particulars For the financial year For the financial year ended 31st March, 2014 ended 31st March, 2013 (Rs. in lacs) (Rs. in lacs) Total Income 5,178.59 9,072.82 Less : Total Expenses 5,540.59 6,195.38 Profit before tax (362.00) 2,877.44 Tax expenses including Deferred tax & adjustments for 559.76 (941.95) earlier years Profit for the year 197.76 1,935.49 FINANCIAL OVERVIEW Your Company recorded total income of Rs. 5,178.59 Lacs in FY''14 as compared to Rs. 9,072.82 Lacs in FY''13, a decrease of 42.92%. The reasons for the decrease were primarily due to revenue recognized in earlier period. The total expenditure also decreased from Rs. 6,195.38 Lacs to Rs. 5,540.59 Lacs. The Profit for the FY''14 stood at Rs. 197.76 Lacs as compared to Profit of Rs. 1,935.49 Lacs in the FY''13. DIVIDEND With a view to conserve the resources, your Directors have not recommended any dividend for the year under review. MANAGEMENT DISCUSSION AND ANALYSIS REPORT In terms of clause 49 of the Listing Agreement, the Management Discussion and Analysis Report is attached as Annexure - 1 to this report. DIRECTORS In terms of Articles of Association, Mr. Pankajkumar Jain retires by rotation, but does not seek re-appointment at the ensuing Annual General Meeting on account of his pre occupations. On 8th August, 2014, Ms. Purnima Pavle was appointed as an as Additional Director and Chief Financial Officer of the Company. The Company has received notice for appointment of Ms. Purnima Pavle as director of the Company and accordingly, the resolution seeking approval of the shareholders for her appointment have been incorporated in the Notice of the forthcoming Annual General Meeting. AUDIT COMMITTEE The Audit Committee (the Committee) of the Board comprises of three Directors, namely Mr. Sagar Gawde, Mr. Deependra Gupta and Ms. Purnima Pavle. The constitution of the Committee underwent a change on 08-Aug-2014, wherein, Ms. Purnima Pavle was admitted as a member of the Committee and Mr. Pankajkumar Jain ceased to be a member. The role and functions of the Audit Committee are in conformity with the requirements of the equity listing agreement. AUDITORS AND THEIR REPORT M/s. Lodha & Co., Chartered Accountants & Statutory Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and the Company has received letter from the Statutory Auditors expressing their inability to continue as Auditors of the Company. The Company has received notice from a member proposing M/s. Shankar and Kapani as the Statutory Auditors of the Company. The board has also received a letter from M/s. Shankar and Kapani, Chartered Accountants giving their consent for being appointed as Statutory Auditors of the Company and confirming their eligibility under section 141 of the Act. A proposal seeking their appointment has been incorporated in the Notice of the Annual General Meeting. PUBLIC DEPOSITS Your Company has not accepted any public deposits and as such no amount on account of principal or interest on public deposits was outstanding, on the Balance sheet date. LISTING FEE Listing fees payment is under dispute. The Company is taking necessary steps to resolve the issue. CORPORATE GOVERNANCE REPORT The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreements with the Stock Exchanges forms part of the Annual Report. Certificate confirming compliance of the conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is annexed to this Report as Annexure - 2. SECRETARIAL COMPLIANCE CERTIFCIATE The Compliance Certificate in terms of Section 383A(1) of the Companies Act, 1956 read with rule 3(2) of the Companies (Compliance Certificate) Rules, 2001, is annexed herewith as Annexure - 3 to this report. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO The particulars relating to energy conservation, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are annexed to this Report as Annexure -4 PARTICULARS OF EMPLOYEES In terms of the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, there were no employees whose particulars are required to be furnished. DIRECTORS'' RESPONSIBILITY STATEMENT Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors'' Responsibility Statement, it is hereby confirmed that:- I. In the preparation of the accounts for the financial year ended 31st March, 2014, the applicable accounting standards read with requirements set out under Schedule VI to the Companies Act, 1956 have been followed and that there are no material departures from the same; II. 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 as at 31st March, 2014 and of the profit of the Company for the year ended on that date; III. The Directors have 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 accounts for the financial year ended 31st March, 2014 on a going concern basis. V. The Directors had laid down internal financial control to be followed by the Company and that such internal financial controls are adequate and operating effectively. VI. The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively. ACKNOWLEDGEMENTS The Board of Directors wishes to place on record its gratitude for the faith reposed and the co-operation extended by banks, government authorities, customers and shareholders of the Company and looks forward to continued support and co-operation from them. For and on behalf of the Board of Directors Place: Mumbai Deependra Gupta Purnima Pavle Date: 08-Aug-2014 Director Director

Director’s Report