| The Shareholders,
The Directors are pleased to present the Twenty first Annual Report
for the year ended 31st March, 2014.
FINANCIAL RESULTS
The financial performance of the Company during the year has been as
under:
(Rs/Lakh)
PARTICULARS Year ended on
31.03.20141 31.03.2013
Incomes:
Net Sales/Income from operations 1674.46 1434.03
Other Income 15.25 47.64
Total (A) 1689.71 1481.67
Expenditure:
(lncrease)/Decrease in stock in trade (38.61) 71.09
Consumption of raw material 868.62 509.50
Purchase of traded goods 259.40 221.64
Staff cost 175.58 208.19
Other expenditure 276.14 329.84
Finance Cost 13.81 63.97
Depreciation 88.62 48.77
Total (B) 1643.56 1453.00
Profit ( )/ Loss (-) before tax (A-B) 46.15 28.67
Tax Expenses 5.89 5.46
Provision for MAT 3.53 -2.19
Provision for Fringe Benefit Tax - -
Provision for deferred tax liability 9.54 8.69
Net profit ( )/ Loss (-) 27.20 16.70
Paid-up equity shares capital (Face value) 322.59 322.59
Reserves 144.59 127.90
Basic and diluted EPS 0.84 0.52
During the year under review the total income was Rs. 1689.71 Lac as
against Rs.1481.67 Lac in F.Y. 2012-13. The net Profit after tax for
the year is Rs. 46.15 Lac as against Rs. 28.67 Lac in F.Y. 2012-13.
DIVIDEND :
Due inadequacy of profits in the current year, no dividend for the year
is being recommended.
STOCK EXCHANGES :
The shares of the Company are listed at Bombay Stock Exchange Ltd. The
listing fee for the financial year 2014-2015 has been paid to Bombay
Stock Exchange Ltd.
DIRECTORS:
ShAnkur Jain and Sh. R.C. Jain are retiring at the ensuing Annual
General Meeting and have offered themselves for re-appointment.
Proposal for their re-appointment is being included in the notice
convening Annual General Meeting.
PROMOTER GROUP:
The promoter group consists of Sh. S.K. Jain, Smt. Sarla Jain, Sh.
Ankur Jain, Sh. Madhur Jain, Smt. Shikha Jain, Smt. Kopal Jain and
SPSInfratech Private Limited.
DIRECTORS' RESPONSIBILITY STATEMENT :
As required under section 217(2AA) of the Companies Act, 1956. we
report that:
in the preparation of the Annual Accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
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 and of the Profits of the
Company for that period;
the directors have taken proper and sufficient care for the 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;
the directors have prepared the annual accounts on a going concern
basis.
AUDITORS AND AUDITORS' REPORT :
M/s Sudhir Chaudhary & Associates, Chartered Accountants, the Statutory
Auditors of the Company are retiring at the ensuing Annual General
Meeting. The Company has received from them a letter dated 6/8/2014 to
the effect that they are eligible and willing to be re-appointed as
auditors of the Company. Their re-appointment, if made, would be
within the limits prescribed under section 139 of the Companies Act,
2013. Accordingly, the resolution for appointment of the auditors has
been included in the Notice convening next Annual General Meeting.
There are no comments or qualification in the Auditors' Report
requiring an explanation or comments by the Board.
MANAGEMENT DISCUSSION AND ANALYSIS :
Management Discussion and Analysis forms part of the Directors' Report
and is annexed as Annexure-I. CORPORATE GOVERNANCE :
Your Company is complying with all the provisions of Clause 49 of the
Listing Agreement with the Bombay Stock Exchange Ltd. A Report on the
Corporate Governance is enclosed as Annexure-11. A certificate dated
6/08/2014 from the statutory auditors on compliance with the
requirements of clause 49 of the listing agreement is annexed to the
Directors' Report and forms part of the Corporate Governance Report.
FIXED DEPOSITS :
Your Company has not accepted any deposits from public within the
meaning of section 58-A of the Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO :
The report required to be made pursuant to Section 217( 1 )(e) of the
Companies Act, 1956 read with Companies (Disclosures of Particulars in
the Report of Board of Directors) Rules, 1988 is annexed as
Annexure-lII and forms part of this report.
Complied by: Dion Global Solutions Limite
There are no employees in the Company, drawing remuneration exceeding
the limits prescribed in section 217(2-A) of the Companies Act. 1956
read with Companies (Particulars of Employees) Rules, 1975. "
ACKNOWLEDGEMENTS :
Your Directors express their deep sense of appreciation for the
assistance and co-operation received from the Banks. Auditors and other
authorities during the year under review.
Your Directors also wish to place on record their deep sense of
appreciation for the devoted and sincere services of all the
executives, staff and workers of the Company. "
By the order of the Board
Place : Faridabad
Dated: 12/08/2014 Sd/-
S.K.Jain
(Chairman and Managing Director) |