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Andhra Pradesh Tanneries Ltd.

BSE: 509367 Sector: Others
NSE: N.A. ISIN Code: N.A.
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NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
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Andhra Pradesh Tanneries Ltd. (APTANNERIES) - Director Report

Company director report

ANDHRA PRADESH TANNERIES LIMITED ANNUAL REPORT 2004-2005 DIRECTORS' REPORT To The Members The Directors present herewith the Thirty First Annual Report together with the Statement of Accounts for the year ended March 31, 2005. FINANCIAL RESULTS: 2004-2005 2003-2004 (Rs. in lakhs) (Rs. in lakhs) Sales and other income 24.01 7.22 Gross Profit/(Loss) before Depreciation (74.72) (184.93) and Interest Less: Provision for Depreciation 6.67 6.69 Interest 9.78 7.15 Profit/(loss) before Tax (91.17) (198.77) Less: Provision for Income tax Nil Nil Net Profit/(Loss) (91.17) (198.77) Add: Balance loss brought forward from (526.05) (327.28) previous year Profit/(Loss) carried to Balance sheet (617.22) (526.05) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO: During the year the Company had strict control on wasteful electrical consumption. Lights and power were switched off wherever not necessary. The Company does not use any technology for its existing business. There were no foreign exchange earnings or outgo during the year. DEMATERIALISATION OF SHARES The Company is in the process of completing formalities with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL) for dematerialisation of the Shares of the Company. Accordingly the Shares of your Company will be available for dematerialisation and can be traded in Demat form. PARTICULARS OF EMPLOYEES The Company does not have any employee whose particulars are required to be given pursuant to the provisions of Section 217 (2A) of the companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975. DIRECTORS' RESPONSIBILITY STATEMENT We hereby state: (i) That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures. (ii) That 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 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 this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities: (iv) That the Directors have prepared the annual accounts on a going concern basis. AUDITORS The note nos. 5, 17, 7, 24, 20 in the notes to the Accounts referred by the Auditors in their report are self explanatory. On the suggestions remarks made by the Auditors, the Directors will take necessary steps in due course of time. M/s. Rowe & Pal, Chartered Accountants, the Auditors of the company would retire at the ensuing Annual General Meeting and are eligible for re- appointment. You are requested to appoint Auditors and to fix their remuneration. FOR AND ON BEHALF OF THE BOARD PLACE : Andhra Pradesh ARATI SARAN DATED : 1st September 2005 CHAIRPERSON

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