| Disclosure in board of directors report explanatory DIRECTORS’ REPORT: The Members, Your Directors have pleasure in presenting the Twenty Sixth Annual Report together with audited accounts for the year ended 31st March, 2014. FINANCIAL RESULTS: The financial results for the Company for the period ended 31st March, 2014 are as follows: (Rs. Lakhs) 31stMarch, 2014 31stMarch, 2013 Profit/( Loss) for the year 137.63 90.74 Less: Provision for tax Last Yr 0.22 (0.0) Profit after tax 137.41 90.74 Surplus/(Deficit) brought forward From previous year (1213.12) (1303.86) Balance carried to balance sheet (1075.71) (1213.12) DIRECTORS : Ms. P Rajyalakshmi, Director retires by rotation and being eligible, offers herself for reappointment. AUDITORS : M/s. R Kankaria & Uttam Singhi, Chartered Accountants,[Firm Registration No: 000442S] Statutory Auditors of the Company, hold office till the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. The Company has received letter to the effect that their re-appointment, if made, would be within the prescribed limits under Section 141(3)(g) of the Companies Act, 2013 and that they are not disqualified for re-appointment. FIXED DEPOSITS The Company has not raised any fixed deposits as on 31.03.2014. PARTICULARS RELATING TO EMPLOYEES: As none of the employees of the Company has received remuneration in excess of the prescribed limits, the statement required under section 217(2)(a) of the Companies Act 1956 read with Companies (particulars of Employees) Rules 1975 is not given. INDUSTRIAL RELATIONS: The industrial relations continue to be cordial during the year. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, EXPORTS & FOREIGN EXCHANGE EARNINGS AND OUTGO AND PARTICULARS OF EMPLOYEES : Your Company is not engaged in power intensive industry and the average power consumption has been well within the norms. The requisites information in term of Companies Disclosures of particulars in report of Board of Directors) Rules 1988 are set out in a separate statement attached hereto and forms part of report. CORPORATE GOVERNANCE: During the year under review, Your Company could not comply with the mandatory clause of the listing agreement due to industrial Sickness and lack of Staff strength. LISTING: The Shares of your Company are listed in Hyderabad, Chennai and Mumbai Stock Exchanges. The Company has not paid the Annual Listing Fees to the aforesaid Stock Exchanges. REPLIES TO AUDITORS QUALIFED OPINION: Depreciation has not been provided on building and plant & machinery, As the Company has not used the Building and Plant & Machinery of Unit II, the depreciation has not been provided. Refer Point with regard to Basis for qualified Opinion of the Independent Auditors’ Report: DIRECTORS RESPONSIBILITY In terms of section 217 (2AA) of the Companies Act, 1956 the directors would like to state that: The financial statement is in full conformity with the requirements of the Companies Act, 1956, and applicable accounting standards have been followed along with proper explanation relating to material departure.
The directors have selected such accounting policies and applied them consistently and made judgment and estimates that were 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 and of the profit or loss of the company for the year under review.
That the directors have taken proper and sufficient care for the maintenance of adequate records in accordance with provision of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.
That the directors have prepared the annual accounts on a going concern basis.
ACKNOWLEDGEMENT The Board of Directors thanks the Financial Institutions, Banks, Central and State Government Authorities and the entire stake Holders for their continued Co operation and support of the companies. FOR AND ON BEHALF OF THE BOARD Place: Hyderabad P. PATTABHI RAMA RAO P.PRAVEEN KUMAR Date: 23.07.2014 MANAGING DIRECTOR DIRECTOR (Din No. 00353641) (Din No. 00353720)
ANNEXURE TO DIRECTOR’S REPORT – INFORMATION UNDER SECTION 217(1) (E) OF THE COMPANIES ACT, 1956 READ WITH COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988 AND FORMING PART OF DIRECTOR’S REPORT
ENERGY CONSERVATION Our production is not energy intensive, however regular steps have been taken to conserve the energy consumption. FORM – A (Form for disclosure of particulars with respect to conservation of energy) Current Year Previous Year Ended 31.3.2014 Ended 31.3.2013 POWER AND FUEL CONSUMPTION ELECTRICITY Purchased
Units-Mwh 160.72 102.13 Total Amount – Rs. Lakhs 14.18 7.54 Rate/Units – Rs. 8.83 7.38 OWN Generation
Through Diesel generator Units – Mwh 8.11 29.23 Units per Ltr of Diesel Oil 4.50 5.21 Cost/Unit (Variable) – Rs. 13.11 14.85 FORM – B (Form disclosure of particulars with respect to technology absorption) RESEARCH AND DEVELOPMENT – NOT APPLICABLE |
TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION The present method is indigenous and advanced method is used to upgrade the process. Information required incase of imported technology (imported during the last 5 years reckoned from the beginning of the financial year) : Not applicable as there has been no import of technology.
FOREIGN EXCHANGE EARNINGS AND OUT GO Earnings : Nil Out Go : Nil Traveling Expenses : Nil Details regarding energy conservationOur production is not energy intensive, however regular steps have been taken to conserve the energy consumption. FORM – A (Form for disclosure of particulars with respect to conservation of energy) Current Year Previous Year Ended 31.3.2014 Ended 31.3.2013 A. POWER AND FUEL CONSUMPTION 1. ELECTRICITY a) Purchased Units-Mwh 160.72 102.13 Total Amount – Rs. Lakhs 14.18 7.54 Rate/Units – Rs. 8.83 7.38 b) OWN Generation Through Diesel generator Units – Mwh 8.11 29.23 Units per Ltr of Diesel Oil 4.50 5.21 Cost/Unit (Variable) – Rs. 13.11 14.85 Details regarding foreign exchange earnings and outgoFOREIGN EXCHANGE EARNINGS AND OUT GO Earnings : Nil Out Go : Nil Traveling Expenses : Nil Particulars of employees as per provisions of section 217As none of the employees of the Company has received remuneration in excess of the prescribed limits, the statement required under section 217(2)(a) of the Companies Act 1956 read with Companies (particulars of Employees) Rules 1975 is not given. Disclosures in director’s responsibility statementIn terms of section 217 (2AA) of the Companies Act, 1956 the directors would like to state that: i.The financial statement is in full conformity with the requirements of the Companies Act, 1956, and applicable accounting standards have been followed along with proper explanation relating to material departure. ii.The directors have selected such accounting policies and applied them consistently and made judgment and estimates that were 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 and of the profit or loss of the company for the year under review. iii.That the directors have taken proper and sufficient care for the maintenance of adequate records in accordance with provision of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. iv.That the directors have prepared the annual accounts on a going concern basis. |