ASIAN FLORA LIMITED
ANNUAL REPORT 2010-2011
Asian Flora Ltd., Hyderabad.
Your Directors have pleasure in presenting the 17th Annual Report together
with Audited Statement of Accounts of your Company for the year ended 31st
The Financial highlights for the year under review are given below:
(Rs. in lacs)
(12 mths) (12 mths)
Sales and Other Income (Loans written off) 0.00 65.88
EBIDT -3.22 62.79
Interest 0 0
Depreciation 27.96 27.96
Profit Before Tax -31.18 34.83
Provision for Tax* 0 0
Profit After Tax -31.18 34.83
Net Worth** (1236.99) (1199.36)
The company has no business activity during the year. The Company is making
efforts to get Companies Shares Relisted at BSE.
The Company did not undertake any operations and therefore no dividend for
the year 2010-2011.
The Assets are under the control of KSIIDC, Bangalore and hence there is no
possibility of continuation of business operations till the loans are
cleared. Hence interest on loans has not been provided.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the provisions of section 217(2AA) of the Companies Act, 1956,
the Board of Directors state:
i) That in preparation of the Annual Accounts, applicable accounting
standards have been followed and there were no material departures there
from except as otherwise explained in the notes to accounts.
ii) That the directors have selected such accounting policies and adopted
them consistently, except as stated in the notes on accounts, 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 as on 31st March,
2011 and Profit & Loss account of the company for the year ended 31st
March, 2011. The auditor's comments in this regard are self explanatory.
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.
Mr. M Sambasiva Rao Director, who retires by rotation and being eligible,
offers himself for re-appointment.
Sri V. Ramachandra Rao, Chartered Accountant, Auditors of the Company are
eligible for re-appointment as statutory auditors of the Company to audit
the accounts of the Company for the financial year 2011-12.
PARTICULARS OF EMPLOYEES:
No employee of the company is in the receipt of remuneration as specified
under the provisions of section 217(2A) of the companies Act, 1956, read
with companies(particulars of employees) rules, 1975 as amended.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
The company does not have any manufacturing operations. It is engaged in
plantation activity business. All these activities are not energy
intensive, consequently, the provisions regarding furnishing of details of
conservation of energy are not applicable.
Technology absorption and foreign exchange earning and outgo 'NIL' during
the year under review.
By Order of the Board
For Asian Flora Limited,
Place: Hyderabad M. Sambasiva Rao
Date : 11.08.2011 Director