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Alpine Capital Services Ltd.

BSE: 511694 Sector: Financials
NSE: N.A. ISIN Code: INE118F01011
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Alpine Capital Services Ltd. (ALPINECAPITAL) - Director Report

Company director report

DIRECTORS REPORT

To

Dear Members

Your Directors are pleased to present the Annual Report and the audited accounts forthe year ended 31st March 2012

Financial results:

The financial performance of the Company for the year ended 31st March 2012, issummarized below:

(In Rs)
PARTICULARS 31st March 2012 31st March 2011
Income 960944.00 941751.00
Expenditure 573515.00 581278.00
NET PROFIT BEFORE TAX 387429.00 360473.00
Provisions for taxation 134460.00 124630.00
Deferred Tax 1331.00 825.00
NET PROFIT AFTER TAX 251638.00 235018.00
Paid-up share capital 30045000.00 30045000.00

Results of operations:

During the financial year under review, the company's total turnover amounted to Rs.960944/- which is higher than the previous year's figure of Rs. 941751/-. On the otherhand the total expenditures has also been decreased from Rs. 581278/- (inclusive ofdepreciation) to Rs. 573515/-during this period. Resultantly, the company's surplus (aftertax) amounting Rs. 251638/-, being higher than the last year figure of Rs. 235018/- whichhas been carried to the Balance Sheet. The management has taken note of the same and thendecided to initiate the process of introspection to improve further the profitabilityposition of the company by developing/formulating new marketing strategies and policies in

Share capital

The authorised share capital of the Company is Rs. 35,000,000/- divided into 3,500,000Equity Shares of Rs. 10/- each, the issued and subscribed and paid up share capital of thecompany is Rs. 30045000/- divided into 3004500 equity shares of Rs. 10/- each. Calls inarrears remain Rs 526750/- during the year under review.

Dividend

The management decided to retain all the internal accruals and to utilize the same inthe expansion of business, therefore, it has been decided by the Board to defer thedeclaration of dividend this year as well.

Corporate Governance

The company is committed to maintain the highest standards of Corporate governance. TheDirectors adhere to the requirements set out by the Securities and Exchange Board ofIndia's Corporate Governance practice and have implemented all stipulated prescribed.

The requisite Certificate from the Auditors of the Company, M/s K. SINGH &ASSOCIATES, Chartered Accountants, confirming compliance with the conditions of CorporateGovernance as stipulated under the Clause 49, is attached to this report. A report on thecorporate Governance is also attached as an annexure to this report

Directors

The Board of Directors of the Company is duly constituted and comprises highlyqualified and experienced members. However, pursuant to the provisions of Section 256 ofthe Companies Act, 1956, Mr. Amrik Singh, is liable to retire by rotation and beingeligible, offered himself for reappointment.

Directors' responsibility statement

Pursuant to the provisions of Sub-Section (2AA) of Section 217 of the Companies Act,1956, the Directors confirm that:

i. In the preparation of annual accounts, the applicable accounting standards have beenfollowed along with proper explanation relating to material departure;

ii. The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and ofthe profit or loss of the Company for that period;

iii. The Directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

iv. The Directors have prepared the annual accounts on going concern basis.

Public deposits

The Company has neither accepted any deposit from the public nor renewed the depositswhich fall within the ambit of Section 58A, 58AAA of the Company's Act, 1956, and therules framed thereunder, during the year under review.

Particulars of the employees

Information as per Section 217(2A) of the Companies Act, 1956, read with Companies(Particulars of Employees) Rules, 1975 and Companies (Disclosure of Particulars in thereport of the Board of Directors) Rules, 1988, is not required as none of theDirectors/employees was in receipt of remuneration of Rs. 5,00,000 or more permonth or Rs. 6,000,000 per annum in the aggregate.

Auditors

M/S K SINGH & ASSOCIATES, Chartered Accountants, who were appointed as theStatutory Auditors of the company, there term of office comes to end at the conclusion ofthe ensuing Annual General Meeting. Based on the eligibility certificate given by the saidauditors under section 224 (1) (B) of the Companies Act, 1956, the Board of Directorsresolved to recommend the appointment of M/S K SINGH & ASSOCIATES, CharteredAccountants as the Statutory Auditor of the company for the financial year ending on 31stMarch, 2013.

SECRETARIAL AUDITORS:

In order to make the compliance of the provisions of Section 383A of the Companies Act,1956, your Board recommend the reappointment of M/s M.R Chechi & Associates, CompanySecretaries, as the Compliance Auditors of the Company for the financial year ended 31stMarch, 2013,

Notes on Accounts

The observations of the Auditors on the notes on accounts are adequately explained tothe Company through the section Notes on Accounts. Hence, no separate comments arerequired by the Directors on the Report of the Statutory Auditors.

Particulars of conservation of energy, technology absorption and foreign exchangeearnings and out go

The particulars as required under clause (e) of subsection (1) of Section 217 of theCompanies Act 1956 are as follow:

a) Conservation of Energy

Nil, because the company has not carried out any activity till date.

b) Technology Absorption -N.A.

c) Foreign Exchange earning and Outgo -NIL.

Industrial relations

The overall industrial relations have remained cordial throughout the year underreview.

Acknowledgement

Your Directors wish to place on record their deep gratitude to the Departments ofState/Central Governments, banks and other concerned authorities, for their valuableco-operation and assistance. Your Directors also wish to place on record. Theirappreciation of the wholehearted and continued support extended by the shareholders andthe employees of the Company which had always been a source of strength for the Company.

FOR AND ON BEHALF OF THE BOARD ALPINE CAPITAL SERVICES LIMITED
Dated: 01.09.2012 Sd/- Sd/-
Place: New Delhi DIRECTOR DIRECTOR

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