| The Directors take pleasure in presenting the 22nd Annual Report and
the Audited Statements of Accounts for the year ended on 31st March
2009.
FINANCIAL RESULTS:
The Financial Results of the company for the year ended 31.03.2006
relating to the previous year are given here under:
(Rs. inLacs)
For the year Previous year
Ended 31.03.2009 Ended 31.03.2008
Gross Turnover 559.14 499.15
Other income 1.78 4.25
Less:Expenses: 470.01 408.50
Gross Profit
(Before Dep. Int. & Tax) 90.91 94.90
Less: Depreciation 28.52 28.03
Less: Interest 22.58 25.43
Net Profit(BeforeTax) 39.81 41.44
Less:ProvisionforTax 7.39 3.13
Net Profit (After Tax) 32.42 38.31
Balance B/F (0.68) (38.99)
Apportionment for
Provision of Gratuity (4.16) (0)
Balance carried to
Balance Sheet 27.57 (0.68)
PERFORMANCE
There has been a substantial growth in the turnover of your Company and
thus it was able to reduce further . its carried forward losses. An
expansion programmed is under consideration and your directors expects
a substantial growth in the Companys performance. Your Directors are
optimistic about further improvements in the working results in the
current year.
DIVIDEND:
There being insufficient profits, your Directors regret their inability
to recommend any Dividend for the year.
MANAGEMENT DISCUSSION AND ANALYSIS:
A Report on Management Discussion and Analysis forming part of this
Annual Report is annexed hereto and marked as Annexure-A
CORPORATE GOVERNANCE:
A separate Report on Corporate Governance together with certificate of
compliance from the Auditors in terms of clause 49 of the Listing
Agreement is annexed hereto and marked as Annexure B
DIRECTORS RESPONSIBILITY STATEMENT:
In compliance with the provisions u/s 217 (2AA) of the Companies Act
1956, your Directors hereby confirm:
(i) that in the preparation of the Annual Accounts of the Company, the
applicable Accounting Standards have been followed and that no material
departures have been made from the same:
(ii) that your Directors have selected such Accounting Policies as
detailed in Schedule 12 to the Annual Accounts and applied them
consistently and made judgments and estimates that are reasonable and
prudent to give a true and fair view of the state of Affairs of the
Company at the end of the Financial year and of the Profit or Loss of
the Company for that period ;
(iii) that to the best of their knowledge and information, they have
taken proper and sufficient care for 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 to the best of their knowledge and
ability ; and
(iv) that the Annual Accounts have been prepared on a going concern
basis.
PUBLIC DEPOSITS:
The Company did not receive and/or renew any deposit from the Public
during the year nor was there was any balance carried forward.
PARTICUALRS OF EMPLOYEES
The Company has no employee whose remuneration is more than the limit
specified in Section 217 (2A) of the Companies Act, 1956. And thereby
not attracting the provisions under the Act.
DIRECTORS:
Sri B. R. Kabra and Sri V. K. Sharma Directors of the Company retire by
rotation at the forthcoming Annual General meeting and, being eligible,
offer themselves for re-appointment.
AUDITORS
M/s. Surana Sunil & Co., Chartered Accountants of the Company hold the
office until conclusion of the forth coming Annual General Meeting and
being eligible offer themselves for reappointment. The report of the
Auditors when read with notes on accounts it self explanation and needs
no further clarification.
ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE.
The information required under section 217 (1 )(e) of the Companies
Act, read with the Companies (Disclosure of Particulars in the Report
of the Board of directors) Rule 1988, with respect to conservation of
energy, technology absorption and foreign exchange is annexed hereto as
Annexure C and form part of this Report.
PERSONNEL
Your Directors place on records their appreciation of the valuable
services and sincere contributions made by the employees at all levels.
The Management and Employee relationship continued to be very cordial
during year.
DIRECTORS REPORT TO THE SHAREHOLDERS (Contd.) :
ACKNOWLEDGEMENT
Your Directors sincerely appreciate the high degree of professionalism,
commitment and dedication displayed by employees at all levels. The
Directors also place on record their gratitude to the Members, various
departments of the Central and State Government and Bankers for their
continued support, co-operation and confidence.
Place: Kolkata For and on behalf of the Board
Date: 31.08.2009.
M. G. Maheshwari
Chairman
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