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Vision Cinemas Ltd.

BSE Live

Jan 16, 16:00
0.97 0.02 (2.11%)
Volume
AVERAGE VOLUME
5-Day
8,276
10-Day
10,705
30-Day
15,478
8,000
  • Prev. Close

    0.95

  • Open Price

    0.97

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

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Vision Cinemas is not listed on NSE

Annual Report

For Year :
2016 2015 2013 2012 2011 2010 2009 2008 2006

Director’s Report

The Directors are pleased to present their Twenty First Annual Report for the Nine month period ended 31-03-2016. FINANCIAL RESULTS : 2015-16 2014-15 (Rs.in Lacs) (Rs. in Lacs) ( 9 Months ) Turnover 490.44 297.33 Increase / Decrease in Stock Total Revenues 490.44 297.33 Profit /Loss before Interest and Depreciation 138.12 70.73 Interest 17.56 19.83 Profit/Loss before Depreciation 138.12 70.73 Depreciation 85.13 50.68 Net Profit/Loss before taxation 52.99 20.00 Provision for taxation 8.89 5.98 Profit/Loss after tax 38.80 13.99 OPERATIONS AND FUTURE PROSPECTS: The operations of the company have improved year on year and is expected to further improve in the current year with commencement of operations of the expansion of the Bangalore facility. AUDITORS : M/s S. Janardhan & Associates, Chartered Accountants, Bangalore, the auditors of the company, retire at this Annual General Meeting and are eligible for re appointment. MANAGEMENT CLARIFICATIONS TO AUDITORS REPORT : With regard to the qualifications made by the Auditors in para (vii) of their Annexure Report, your directors wish to mention as follows. a) The liability to the principals are under dispute. If the liability is determined in their favour, the TDS amounts will be remitted. Dues from M/s.Vasanth Color Laboratories: The Company has had a carry forward non-fund based transaction with Vasanth Color Laboratories Ltd, which is being repaid during the current financial year Board of Directors : The Company is exempted from the provisions of Clause 49 of the Listing Agreement regarding minimum number of independent directors on the Board as well a Audit Committee. Fixed Deposits : The Company has not accepted any fixed deposits from the public during the year. Directors responsibility statement pursuant to Sec.217 (2AA) of the Companies Act, 2013. 1. In the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departures. 2. 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 2015 - 16 and of the loss of the company for the same period. 3. 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. 4. The Directors have prepared the annual accounts on a going concern basis. Particulars of Employees under Section 217 (2A) : During the year, there were no employees who were in receipt of remuneration in excess of the limits prescribed under the above section. Information under Sec.217 (l)(e) of the Companies Act, 2013 Conservation of Energy : 1 These are not applicable to Technology Absorption : I to the Company Foreign Exchange Earnings : - Nil - Foreign Exchange out go - Nil - MANAGEMENT DISCUSSION AND ANALYSIS. A report on the Management discussion and analysis as required under clause 51 of the Listing Agreement is attached herewith (Annexure I) Corporate Governance A report on the corporate governance is attached herewith as required by the amended clause 49 of the listing agreement (Annexure - II). Shareholder Information The required shareholder information is furnished in Annexure - III to this report. Acknowledgement: The Directors wish to place on record their appreciation for the continued support received from their customers, bankers and employees of the Company. Bangalore By Order of the Board Date: 18.05.2015 Sd/- Rangavasanth. B Chairman & Managing Director

Director’s Report