PRINCE PIPES AND FITTINGS PRIVATE LIMITED
CIN: U26932GA1987PTC006287
Reg Office: Plot No.1, Honda Industrial Estate, Phase II, Honda Sattari, Honda, Goa- 403530
DIRECTORS' REPORT
YourDirectorsarepleasedtopresenttheAnnualReportofthecompanyalongwiththeAuditedStatementsofAccountsandtheAuditor?s Report for the financial year ended 31st March, 2016.
1)	FINANCIAL RESULTS
The Company?s financial performance, for the year ended March 31, 2016 is summarised below:
2014-15 (Rs. in Lakh.)	Particulars	2015-16 (Rs. in Lakh.)
Revenue from Operations	95,719.00	1,00,898.62
Other Income	206.11	113.05
Depreciation & Amortization	(2,852.54)	(2,854.51)
Profit before Tax and before Exceptional items	2,238.14	4,069.06
Tax Expense:
Current Tax	(881.77)	(484.33)
Deferred Tax	(75.79)	(37.69)
Profit After Tax	3,111.50	1,716.12
2)	DIVIDEND
The Directors do not recommend any dividend for the financial year ended 31.03.2016.
3)	TRANSFER TO RESERVES
The Directors have not transferred any amounts to Reserves for the financial year ended 31.03.2016.
4)	DIRECTORS? RESPONSIBILITY STATEMENT
PursuanttoSection134(5)oftheCompaniesAct,2013,theboardofdirectors,tothebestoftheirknowledgeandability,confirm that:
i.	inthepreparationoftheannualaccounts,theapplicableaccountingstandardshavebeenfollowedandtherearenomaterialdepartures;
ii.	theDirectorshaveselectedsuchaccountingpoliciesandappliedthemconsistentlyandmadejudgmentsandestimatesthatarereasonableandprudentsoastogiveatrueandfairviewofthestateofaffairsoftheCompanyasatMarch31,2016andof the profit of the Company for the year ended on that date;
iii.	theDirectorshavetakenproperandsufficientcareforthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheCompaniesAct,2013forsafeguardingtheassetsoftheCompanyandforpreventinganddetectingfraud and other irregularities;
iv.	the Directors have prepared the annual accounts on a going concern basis;
v.	theDirectorshavedevisedpropersystemstoensurecompliancewiththeprovisionsofallapplicablelawsandthatsuchsystems were adequate and operating effectively.
5)	NUMBER OF MEETINGS OF THE BOARD
DuringtheFinancialyearendedMarch31,2016TwentyFiveMeetings(08-04-2015,17-04-2015,18-04-2015,25-04-2015,07-05-2015,22-05-2015,04-06-2015,29-07-2015,17-08-2015,21-09-2015,25-09-2015,06-10-2015,12-10-2015,30-10-2015,09-11-2015,27-11-2015,04-12-2015,11-12-2015,15-12-2015,29-12-2015,07-01-2016,28-01-2016,01.02.2016, 01-03-2016 & 22-03-2016) of the Board of Directors were held.
Name of Director	Number of meetings during the financial year 2015-16	Sr. No.
Entitled to Attend	Attended
1	25	25	Jayant Shamji Chheda
2	Parag Jayant Chheda	25	25
3	25	Vipul Jayant Chheda	25