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Aditya Forge Ltd.

BSE: 522150 Sector: Engineering
NSE: N.A. ISIN Code: INE281H01013
BSE LIVE 14:04 | 09 May Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.11
PREVIOUS CLOSE 3.11
VOLUME 1255
52-Week high 3.11
52-Week low 3.11
P/E
Mkt Cap.(Rs cr) 1.34
Buy Price 3.11
Buy Qty 745.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.11
CLOSE 3.11
VOLUME 1255
52-Week high 3.11
52-Week low 3.11
P/E
Mkt Cap.(Rs cr) 1.34
Buy Price 3.11
Buy Qty 745.00
Sell Price 0.00
Sell Qty 0.00

Aditya Forge Ltd. (ADITYAFORGE) - Director Report

Company director report

Dear Members

We are pleased to present the Twenty Third Annual Report of ADITYA FORGE LTD togetherwith Audited Financial Statements and Auditor's Report for the Financial Year ended as on31st March 2015. The Financial Highlights for the year under review are given below:

(1) FINANCIAL AND WORKING RESULTS:

Particulars 2014-2015

(Rs.)

2013-2014

(Rs.)

TOTAL INCOME 19400113 197869186
TOTAL EXPENSES 41310054 193593125
GROSS PROFIT/(LOSS) BEFORE DEPRECIATION -21909941 4276061
(Less): Depreciation 24520157 7877531
PROFIT/(LOSS) BEFORE TAXATION -46430098 -3601470
(Less): Provision for Deferred Tax 86966 843847
(Less): Provision for Fringe Benefit Tax -
(Less): Tax Adjustments for prior year -
NET PROFIT/(LOSS) AFTER TAX -46343132 -2757263
EARNING PER SHARE
Basic -10.76 -0.64
Diluted -10.76 -0.64

Previous years figures have been re-grouped wherever necessary

FINANCIAL PERFORMANCE :

During the year under review your Company has recorded a lower turnover of Rs. 1.94Crore as against Rs.19.79 Crore in the previous year. The Net loss (after tax and extraordinary items) for the financial year ended 31st March 2015 is Rs.4.64 Crore as againstNet Loss of Rs. 0.36 Crore in the previous year.

(2) DEPOSITS:

The Company has not accepted deposits from the public.

(3) DIVIDENDS:

In view of carried forward losses and current losses your Directors do not recommendany dividend for the financial year under review.

(4) PARTICULARS OF EMPLOYEES:

There was no employee drawing remuneration of Rs. 60.00 lac p.a. or Rs. 5.00 Lac p.m.for part of the year or more and hence no particulars are required to be furnished underSection 217(2A) of the Companies Act 1956.

(5) REFERENCE TO BOARD OF INDUSTRIAL & FINANCIAL RECONSTRUCTION

As advised by the Auditors M/s. K.J.Shah & Co. Chartered Accountants theaccumulated losses of the Company as on 31st March 2015 were Rs.910.74 lakhs.Since the Accumulated losses have exceeded the Net Worth the Company has become a SickIndustrial Company within the meaning of Sick Industrial Companies

(Special Provisions ) Act 1985 and therefore the Board recommends that the Companymake a reference to Board of Industrial & Financial Reconstruction.

(6) PARTICULARS RELATING TO CONSERVATION OF ENERGY:

A. CONSERVATION OF ENERGY:

The information required under Section 217(1) (e) of the Companies Act 1956 read withthe Companies (Disclosures of Particulars in the Board of Directors) Rules 1988 isannexed hereto and forms part of this Report.

B. FOREIGN EXCHANGE EARNINGS & OUTGO :

During the year the Company has neither earned nor spent any foreign exchange.

(7) DIRECTORS' RESPONSIBILITY STATEMENT:

i) Your Directors have followed the applicable Accounting standards along with properexplanation relating to material departures if any while preparing the annual accounts;

ii) Your Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give true andfair view of the state of affairs of the Company at the end of financial year and of theprofit of the Company for the period;

iii) Your Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe assets of the Company and for preventing and detecting fraud and other irregularities;

iv) Your Directors have prepared the annual accounts on a going concern basis.

(8) DIRECTORATE:

Mr.Mahesh Nandani and Mr. Vishnu Patel who retire by rotation from the Directorship atthe ensuing Annual General Meeting and being eligible offer themselves for retirement.

(8) AUDITORS:

M/s K.J Shah & Co Chartered Accountants Auditors of the Company retires at theconclusion of this Annual General Meeting and being eligible offer themselves forreappointment. You are requested to appoint Auditors and fix their remuneration.

(9) ACKNOWLEDGEMENTS:

Your Directors take opportunity to express their gratitude to government employees andshareholders for their valuable support and co-operation.

FOR AND ON BEHALF OF THE BOARD
Place : Vadodara
Date : 09th September 2015 Nitin Parekh
Managing Director

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