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ADS DIAGNOSTIC LTD.

17 April 2014 | 12:00

Industry >> Hospitals & Medical Services

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ISIN No BSE Code / NSE Code 523031 / ADSDIAG Book Value (Rs.) 27.19 Face Value 10.00
Bookclosure 30/09/2024 52Week High 11 EPS 8.44 P/E 1.34
Market Cap. 2.49 Cr. 52Week Low 11 P/BV / Div Yield (%) 0.42 / 0.00 Market Lot 100.00
Security Type Other

DIRECTOR'S REPORT

You can view full text of the latest Director's Report for the company.
Year End :2014-03 
Dear MEMBERS,

The Directors have pleasure in presenting the Twenty Ninth Annual Report together with the Audited accounts for the year ended 31st March 2014.

FINANCIAL RESULTS                       2013-2014             2012-2013
                                          (Rs.)                  (Rs.)

Operating Income                      7,42,92,535            56,422,453

Profit before Interest &
Depreciation                            5,013,600             17,76,694

Less: a) Interest                       19,93,377             1,131,969

      b)Depreciation                    19,61,123             2,045,679
Net Profit / (Loss) before
Taxation                                10,59,100           (1,400,954)

Provision for Income
Tax                                      7,63,000                     0

Provision for Deferred
Tax                                    (1,41,676)            (270,91 5)

Net Profit / (Loss) after
Taxation                                 4,37,776           (1,130,039)

Add: Balance of Profit Brought
forward from previous years             13,34,112            (2,44,730)

Add: Excess/ (Short) Provision for
income Tax for Previous years                   0              (40,657)

Balance carried to Balance
Sheet                                    8,96,336            1,334,1 12
OPERATIONS:

The operational income of the Company has increased from Rs.564.22 Lacs to Rs.742.92 Lacs registering a growth of 31.67 % in the current year. Income from scanning business has marginally increased from Rs. 0.92 Lacs to Rs. 1.10 Lacs during the year under review. The income from trading and servicing has increased from Rs. 497.33 Lacs to Rs. 591.98 Lacs for the current year. While Distribution Commission has increased from Rs. 60.75 Lacs to Rs. 140.27 Lacs for the current year. Overall income has increased by Rs. 1 78.70 Lacs, during the year under review.

INCOME FROM NON DIAGNOSTIC BUSINESS:

The Overall income is increasing year after year. The company has earned profit of Rs.4.38 Lacs after tax as Against the loss of Rs. 11.30 Lac in Previous Year. The Directors are hopeful to achieve further growth in the year 2014-15, as the company has undertaken new projects/Tenders.

DIVIDEND:

Due to the past losses the Board expresses their inability to recommend any dividend for the year 201 3- 2014.

LISTING:

Shares of your Company continue to be listed on Bombay Stock Exchange Limited, Mumbai and the listing fee has been paid for the year 2014-201 5 in the month of May, 2014.

DIRECTORS:

Mr. Cirish Sareen & Mr. Ravi Kohli, Directors of the Company retire by rotation and being eligible, offer themselves for reappointment.

The Board recommends to the shareholders the re-appointments of the above-mentioned Directors.

THE DIRECTORS RESPONSIBILITY

Pursuant to the requirement under Section 134(5) of the Companies Act, 2013 with respect to Directors' Responsibility Statement, it is hereby confirmed:

i) That in the preparation of the accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanation related to material departures;

ii) That the Directors have selected such accounting policies and applied them consistently and made adjustments and estimates that are reasonable and prudent so as to give a fair view of the State of Affairs of the Company at the end of the Financial Year and of the Profit and Loss of the Company for that period;

iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 201 3 for safeguarding the Assets of the Company and for preventing and detecting fraud and other irregularities;

iv) That the Directors have prepared the accounts for the financial year ended 31st March 2014 on a 'going concern' basis.

AUDITORS' REPORT AND RE-APPOINTMENT OF AUDITORS

The Auditors, M/s R. Nagpal Associates, Chartered Accountants, New Delhi hold office till the conclusion of the ensuing Annual General Meeting and are recommended for re-appointment. They have submitted a certificate in accordance with the applicable provisions of the companies Act 2013, confirming their eligibility and willingness for re-appointment.

The observation of Auditors and Notes on Accounts are self-explanatory.

PARTICULARS OF EMPLOYEES

The Provisions of Section 21 7 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended by Amendment Rules, 2011 do not apply, as none of the employees of the Company was paid a salary of Rs. 5,00,000/- (Rupees Five lacs only) or more per month, if employed for part of the year or Rs.60,00,000/- (Rupees Sixty lacs only) per annum, if employed throughout the year.

FIXED DEPOSITS

The Company has not accepted any deposits under Section 73 of Companies Act, 2013 during the financial year under review.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EARNINGS AND OUTGO

The information pertaining to conservation of energy, technology absorption, foreign exchange earnings and Outgo is given in the Annexure forming part of this Report.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation for the co-operation and assistance extended by the Bankers, the Medical Professionals and the Staff.

                 For and on behalf of the Board of Directors

DR. GAUTAM SEHAL                                       MR. RAVI KOHLI
MANAGING DIRECTOR                                            DIRECTOR
PLACE-: NEW DELHI DATE-: 30thMAY 2014.