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Arcee Industries Ltd.

BSE: 520121 Sector: Industrials
NSE: N.A. ISIN Code: INE276D01012
BSE LIVE 13:12 | 18 Nov 3.93 -0.20
(-4.84%)
OPEN

3.93

HIGH

3.93

LOW

3.93

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.93
PREVIOUS CLOSE 4.13
VOLUME 100
52-Week high 4.56
52-Week low 2.24
P/E
Mkt Cap.(Rs cr) 2.02
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.93
Sell Qty 1900.00
OPEN 3.93
CLOSE 4.13
VOLUME 100
52-Week high 4.56
52-Week low 2.24
P/E
Mkt Cap.(Rs cr) 2.02
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.93
Sell Qty 1900.00

Arcee Industries Ltd. (ARCEEINDS) - Director Report

Company director report

ARCEE INDUSTRIES LIMITED ANNUAL REPORT 2011-2012 DIRECTOR'S REPORT To The Members, Your directors have pleasure in presenting the '20th ANNUAL REPORT' together with the Audited Accounts for the year ended 31st March, 2012. 1. FINANCIAL HIGHLIGHTS (Rs. in Lacs) 2011-2012 2010-2011 Sales and other income 1178 1667 Profit before depreciation 38 40 Depreciation & Amortization Expenses 26 28 Profit before Taxes 12 12 Provision of Tax/Tax Paid (Incl. Deferred Taxation) 1 11 Profit after Tax 11 1 Balance brought forward (137) (138) Balance Carried to the Balance Sheet (126) (137) 2. OPERATIONS During the yearthe company has achieved gross revenue of Rs.1177.73 Lacs. The Company's production and sale have declined during the year due to lack of demand of PVC Pipes in the market. But the company has earned Profit before Tax of Rs. 12.18 Lacs as compared to previous year Profit before Tax of Rs. 11.79 Lacs. The company has been consistently trying to capture the local market. It is expected that the company in the near future will do better. 3. FINANCE The interest and finance charges for the year were Rs. 31.82 Lacs as against Rs. 30.06 Lacs for the previous year. 4. DIRECTORS In accordance with the requirement of the Companies Act, 1956 and the Articles of Association of the Company, Sh. Pankaj Agarwal retires by rotation being eligible and offer himself for reappointment. 5. MANAGEMENT DISCUSSION & ANALYSIS The year under review has seen decrease in production and sales of your Company's products. Despite increase in raw material prices, the company could maintain better percentage of Net Profit as compare to previous year. The global economic environment which has been tumultuous through out last year turned sharply adverse towards end of 2011 owing to political and economic uncertainties in the Euro Zone. With international rating agencies raising doubts about the outlook on the US economy, the possibility of a global recession became more pronounced. Comparatively the Indian economy has shown a growth of around 6.9 % in 2011 -2012 as compared to 8.4 % in the previous year. Agricultural growth remains a priority for the Indian Government in order to achieve 'inclusive growth'. Though the share of agriculture in India's GDP is slowly declining, the importance of the sector to the economy continues to be very high because of its share in employment and its impact on the macro economic environment. The policy makers are still concerned that even today the agricultural growth is affected by the vagaries of nature. The Union Budget for 2012-2013 has sharply increased allocation for agriculture and irrigation. The target for agricultural credit has been raised by Rs. 1,00,000 crore to Rs.5,75,000 crore in 2012-2013. Irrigation and Water Resource Finance Company is being operationalized to mobilize large resources to fund irrigation projects. On the back of various Government initiatives to boost the i ural economy, the demand for PVC Pipes will remain strong and it is expected that the Government will continue to give priority to agriculture and rural upliftment programmes in the years to come. The company has instituted adequate internal control procedure commensurate with the nature of its business and the size of its operations. Internal Audit is conducted at regular intervals and covers the key areas of operations. All significant audit observations and follow-up actions thereon are reported to the Audit Committee. Your company's Industrial relations continued to be harmonious during the year under review. The focus is on maintaining employee motivation at a high level with stress on leadership development. Estimates and expectations stated in this Management Discussion and Analysis may be 'forward-looking statement' within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expected or implied. Important factors that could make a difference to your Company's operations include economic conditions affecting demand/supply and price conditions in the domestic and international markets, changes in the Government regulations, tax laws, other statues and other incidental factors. 6. PARTICULARS OF EMPLOYEES As there are no employees drawing remuneration more than the limit prescribed under section 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 not required. 7. FIXED DEPOSITS The company has not accepted any fixed deposits from the public in terms of provisions of Section 58A of the Companies Act, 1956 and rules made thereunder. 8. PARTICULARS REGARDING CONSERVATION OF ENERGY ETC. Information in accordance with the provisions of Section 217(1 )(e) of Companies Act, 1956 read with Companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is given in the statement annexed hereto forming part of the Report. 9. INSURANCE The Company's properties have been adequately insured. 10. DIRECTOR'S RESPONSIBILITY STATEMENT In pursuance to the provision of Section 217 (2AA) of the Companies Act, 1956 your Directors hereby declare :- (i) that in the preparation of the Annual Accounts for the Financial Year 2011 -2012, the applicable Accounting Standards have been followed and no material departures have been made from the same; (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 profit 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 the Companies Act, 1956 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. 11. AUDITORS M/s. Aggarwal & Mahajan, Chartered Accountants (ICAI Registration No. 006545N) retire and are eligible for reappointment. The Auditors have furnished to the Company the requisite certificate under section 224 (1B) of the Companies Act, 1956 that their appointment, if made, would be within the prescribed limit. 12. AUDITORS OBSERVATIONS The auditors observations being self explanatory, have been duly explained in the notes to the accounts. 13. AUDIT COMMITTEE The Audit Committee has three members viz. Sh. S. P. Kanodia (Chairman), Sh. Manoj Goyal and Sh. Pankaj Agarwal. The terms of reference of the Audit Committee, covers the area mentioned in clause 49 of the Listing Agreement of the Stock Exchange and section 292A of the Companies Act, 1956. 14. CORPORATE GOVERNANCE Pursuant to clause 49 of the Listing Agreements entered into with the stock exchange, a separate section on corporate governance and a certificate obtained from the auditors of the company regarding compliance with the conditions of corporate governance are forming part of this annual report. 15. ACKNOWLEDGMENT Your directors are pleased to place on record their sincere gratitude to the Government Authorities, Financial Institutions & Bankers for their continued and valuable co-operation and support to the Company. Your directors express their deep appreciation for the devoted and sincere efforts put in by the members of the team at all levels of operations in the Company during the year. The company feels confident of continued co- operation and efforts from them in future also. FOR AND ON BEHALF OF THE BOARD REGISTERED OFFICE (KRISHNA GUPTA) (R.C. GUPTA) 7th K.M. Barwala Road Talwandi DIRECTOR WHOLE TIME DIRECTOR Rana, Hisar-125 001 Dated : 24/08/2012 ANNEXURE TO DIRECTOR'S REPORT: Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988. A. CONSERVATION OF ENERGY The following measures have been taken by the company for conservation of energy:- (i) Improving power factor by proper choice of capacitors from time to time depending upon the load. (ii) Utilising the proper load of plant and equipments, electric motors etc. (iii) Reducing the maximum demand by properly distribution of load. Total energy consumption and energy consumption per unit of production as Form 'A' is as under :- FORM 'A' FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OFENERGY A. POWER AND FUEL CONSUMPTION CURRENT YEAR PREVIOUS YEAR 1. ELECTRICITY a) Purchase units (KWH) 873854 676893 Total amount (Rs.) 4762390 3486664 Rate/unit (Rs.) 5.45 5.15 b) Own generation i) Through diesel generator Units (approx.) 49364 262896 Units per Ltr. of diesel oil 3.47 3.47 Cost/units (Rs.) 10.58 10.00 ii) Through steam turbine generator N.A. N.A. 2. COAL N.A. N.A. 3. FURNACE OIL (LIGHT DIESEL OIL) N.A. N.A. 4. OTHER INTERNAL GENERATION N.A. N.A. CONSUMPTION PER UNIT OF PRODUCTION PRODUCTION OF RIGID PVC PIPES Unit(M.T.) 2500 3520 Electricity/tonnes (KWH)(APPROX.) 369 267 Furnace oil/tonnes (Ltrs) - - Coal - - Others - - B. TECHNOLOGY ABSORPTION FORM 'B' RESEARCH AND DEVELOPMENT (R&D) CURRENT PREVIOUS YEAR YEAR 1. Specific areas in which R&D } NIL NIL Carried out by the company. } 2. Benefits derived as a result } of the above R&D. } 3. Future plan of action } 4. Expenditure on R & D } a) Capital } b) Recurring } c) Total } d) Total R&D expenditure as a } percentage of total turnover } TECHNOLOGY ABSORPTION, ADAPTATION & INNOVATION 1. Efforts, in brief, made towards } NIL NIL technology absorption, adaptation } and innovation. } 2. Benefits derived as a result of } the above efforts, e.g., production, } product development import } substitution etc. } 3. In case of imported technology } (imported during the last 5 years } reckoned from the beginning of the } financial year following information } may be furnished). } a) Technology imported. } b) Year of import. } c) Has technology been fully absorbed } d) If not fully absorbed, areas where } this has not taken place reasons } therefore and future plans of action. } C. FOREIGN EXCHANGE EARNINGS AND OUTGO a) Activities relating to exports; } NIL NIL initiative taken to increase export; } development of new export markets for } products and services; and export } plans. } b) Total foreign exchange used } and earned }

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