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Ambitious Plastomac Company Ltd.

BSE: 526439 Sector: Others
NSE: N.A. ISIN Code: INE267C01013
BSE LIVE 12:57 | 14 Dec Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.37
PREVIOUS CLOSE 2.41
VOLUME 61
52-Week high 2.37
52-Week low 2.37
P/E 14.81
Mkt Cap.(Rs cr) 1.38
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.37
Sell Qty 141.00
OPEN 2.37
CLOSE 2.41
VOLUME 61
52-Week high 2.37
52-Week low 2.37
P/E 14.81
Mkt Cap.(Rs cr) 1.38
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.37
Sell Qty 141.00

Ambitious Plastomac Company Ltd. (AMBITIOUSPLASTO) - Director Report

Company director report

To

The Members

Your Directors present here with the Annual Report together with the audited Statementof Accounts for the year ended 31st March 2014.

FINANCIAL RESULTS:

The operating results of the Company for the year ended 31st March 2014 arebriefly indicated below:

(Rs. in lacs)
Year 2013-2014 Year 2012-2013
Profit / (loss) Before Depreciation and Taxation (0.16) (185.78)
Depreciation NIL NIL
Profit / (Loss) before Taxation (0.16) (185.78)
Provision for taxation - For Current Tax NIL NIL
Provision for taxation - For Deferred Tax NIL NIL
MAT credit Entitlement NIL NIL
Profit / (Loss) after Taxation (0.16) (185.78)

DIVIDEND:

Due to losses your Directors do not recommend the dividend for the financial yearended 31.03.2014.

PERFORMANCE OF THE COMPANY & FUTURE PROSPECTS:

During the year under review revenue from operation decreased to Rs. 34.22 lacs fromRs. 40.06 lacs in the previous year. Further details are given in management discussionsand analysis report.

MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT:

In accordance with Clause 49 of the Listing Agreement with the Stock ExchangesManagement Discussions & Analysis Report is attached as part of this Annual Report.

DEPOSITS:

The Company has not accepted any deposits within the meaning of Section 58 A of theCompanies Act 1956.

DIRECTORS:

Mr. Pinkal Patel Director of the Company is retiring by rotation at the ensuing AnnualGeneral Meeting and being eligible offer himself for re-appointment. Your Directorsrecommended his re-appointment.

Pursuant to the provisions of the Companies Act 2013 Mr. Hardik Patel whose period ofoffice is liable to determination by retirement by rotation under the erstwhile applicableprovisions of the Companies Act 1956 is being appointed as an Independent Director atthis meeting for the term of five Consecutive years.

Mr. Nimesh Patel Director of the Company whose office is liable to retire by rotationat the ensuing Annual General Meeting under the erstwhile applicable provisions of theCompanies act 1956 is being appointed as an Independent Director at this meeting for theterm of five Consecutive years pursuant to the provisions of the Companies Act 2013.

Necessary resolutions have been proposed for their re-appointment in the ensuing AnnualGeneral Meeting. The Board has recommended their reappointment for consideration ofshareholders.

CORPORATE GOVERNANCE REPORT:

Your Company has complied with the Corporate Governance practice mandated by Clause 49of the Listing Agreement. A report on the same is given separately.

DIRECTORS’ RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act the Directors Confirm that:

1) in the preparation of the annual accounts the applicable accounting standards havebeen followed;

2) appropriate accounting policies have been selected and applied consistently andjudgments and estimates made that are reasonable and prudent so as to give true and fairview of the state of affairs of the Company at the end of the financial year and of theloss of the Company for that period;

3) proper and sufficient care has been taken for the maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act 1956 for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

4) the accounts have been prepared on going concern basis.

LISTING:

The Company’s Securities are listed with the Stock Exchanges at Ahmedabad andMumbai. The Company has paid the listing fees for the year 2014-2015 to both the StockExchanges.

EMPLOYEES:

As there are no employees drawing remuneration more than the limit prescribed underSection 217(2A) of the Companies Act 1956 and the Companies (Particulars of Employees)Rules 1975 as amended from time to time statement under section 217(2A) is notrequired.

STUTORY AUDITORS:

M/s. Vishves A. Shah & Co. Chartered Accountants retiring Auditors have expressedtheir unwillingness to be re-appointed and it is proposed to appoint M/s. K. P. Sompura& Company Chartered Accountants Ahmedabad as Statutory Auditors in place ofretiring Auditors. The Members are requested to appoint the auditors as per the resolutionproposed.

AUDITORS’ OBSERVATIONS:

Auditors Observations have been explained in the notes to the accounts whereverapplicable.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO:

In order to conserve resources the Company has taken measures and applied controlsystem to monitor day to day power consumption to endeavor to ensure the optimal use ofenergy with minimum extent possible wastage as far as possible. There is no specificinvestment plan for energy conservation. On account of measures taken it reduces theenergy consumption.

Furnishing the details of energy consumption etc. in Form A is not applicable. There isno technology absorption and Company has not incurred any Research and developmentexpenditure. There are no foreign exchange earnings and out go during the year underreview.

ACKNOWLEDGEMENT:

The Board is thankful to its bankers for their continued support and assistance whichhas played important role in progress of the Company.

Your Directors places on records the contribution of employees of the Company at alllevels and other business associates for their commitment dedication and respectivecontribution to the Company's operations during the year under review.

Place: Ahmedabad For and on behalf of the Board
Date: 10.08.2014
Pinkal Rajeshbhai Patel
Director (Din : 06512030)
REGISTERED OFFICE
608 GOLD CREST BUSINESS CENTRE
L. T. ROAD OPP. MANUBHAI JEWELLERS
BORIVALI (W) MUMBAI – 400092

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