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Associated Marmo & Granites Ltd.

BSE: 515107 Sector: Others
NSE: N.A. ISIN Code: N.A.
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Associated Marmo & Granites Ltd. (ASSOCMARMO) - Director Report

Company director report

DIRECTORS’ REPORT

Your Directors have pleasure in presenting the 35th Annual Report &Audited Accounts of the Company for the financial year ended 31st March 2015.

1. FINANCIAL HIGHLIGHTS:

The Salient features of the Company’s Financial results for the year under revieware as follows:

Year ended 31.3.15 Year ended 31.3.14
' (Rs. in lacs) (Rs. in lacs)
Profit /(Loss) before Depreciation & Taxation ’ 9.49 9.83
Depreciation 8.55 8.52
Less : Transferred from Revaluation Reserve 1.13 1.15
(7.42) am
2.07 2.46
Prior Period Adjustment (Net) 0.13
Net Profit/(Loss) before Tax 1.94 2.46
Less:- Provision for taxation - -
Less:- Deferred Tax Expenses (054) 10.201
Net Profit/(Loss) after Tax 1.40 2.26
Balance B/F from Previous year (146.30) (148.56)
Recognition of Deferred Tax Liability (Net) - -
Balance B/F G44.901 046.301

2. DEMATERIALISATION IN ROLLING STOCK OF SHARES OF THE COMPANY:

The Company has taken effective steps for compulsory dematerialization in rollingsettlement of shares.

3. DIVIDEND: Due to previous years losses your Directors regret to recommend anydividend for the year ended 31.03.2015.

4. OPERATING RESULTS: Your Company has achieved Sales Turnover of Rs.746.20 lacsduring the current year as compared to Rs.738.711acs in the previous year.

5. DIRECTORS: Smt. Meghana Bagla would retire by rotation at the forthcoming AnnualGeneral Meeting and being eligible has offered herself for re-appointment.

6. NUMBER OF BOARD MEETING CONDUCTED DURING THE YEAR UNDER REVIEW: The CompanyhadSeven Board meetings during the financial year under review.

7. SUBSIDIARY COMPANY: As required under Section 212 of the Companies Act 1956the audited Statements of Accounts along with the report of Board of Directors andAuditors' Report thereon of Stone & Mineral Associates Ltd. is annexed.

8. PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS MADE UNDER SEC.186 OF THE COMPANIESACT. 2013 There were no loans guarantees or investments made by the Company underSection 186 of the Companies Act 2013 during the year under review and hence the saidprovision is not applicable.

9. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES: There wereno Contracts or arrangements made with related parties as defined under Section 188 of theCompanies Act 2013 during the year under review.

10. DEPOSITS: The Company has neither accepted nor renewed any deposits during theyear under review.

11. ANNUAL RETURN: The extracts of Annual Return pursuant to the provisions ofSection 92 read with Rule 12 of the Companies (Management and administration) Rules 2014is furnished in Annexure and is attached to this Report.

12. DIRECTORS’ RESPONSIBILITY STATEMENT: In accordance with the provisions ofSection 134(5) of the Companies Act 2013 the Board hereby submit its responsibilityStatement-

(i) In the preparation of the Annual Accounts the applicable accounting standards havebeen followed along with proper explanation relating to material departures;

(ii) The accounting policies selected and applied are consistent and judgments andestimates made are reasonable and prudent so as to give a true and fair view of the Stateof Affairs of the Company at the end of the year under review and of the profit of theCompany for the period;

(iii) Proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the said Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

(iv) The annual accounts have been prepared on a going concern basis.

13. PARTICULARS OF EMPLOYEES: The Company has no employee of the category specifiedin Section 197 of the Companies Act 2013.

14. PARTICULARS OF CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION: Being a marbleunit the information under Section 134(m) of the Companies Act 2013 is not applicable.

15. INFLOW / OUTFLOW OF FOREIGN EXCHANGE: During the year there is no inflow offoreign exchange but there is outflow of Rs.38.53 lacs.

16. SECRETARIAL AUDIT REPORT: Pursuant to the provisions of Section 204 of theCompanies Act 2013 the Company has appointed Shri Ramesh Chandra Chopra CompanySecretary in independent practice to undertake the Secretarial audit of the Company. TheReport of Secretarial Audit is annexed herewith.

17. AUDITORS & AUDITORS REPORT: M/s Kunawat & Associates CharteredAccountants Udaipur hold the office till the conclusion of the ensuing Annual GeneralMeeting and are eligible for re-appointment. The observations made by the Auditors areself-explanatory and have dealt with in Schedule No.25 forming part of the accounts andhence do not require any further clarification.

18. ACKNOWLEDGEMENT: Your Directors wish to place on record their grateful thanksfor the valuable assistance and co- operation received from the Banks and variousGovernment authorities. Your Directors also wish to place on record their appreciation forthe sincere work by the Officers Staff and Workers of the Company.

For and on behalf of the Board of Directors
Place: Pasoond (Raj.) (MEGHANA BAGLA) (NISHANT BAGLA)
Date: 26th May 2015 Director Managing Director
Registered Office: National Highway No. 8 Pasoond Dist. Rajsamand - 313326 (Rajasthan)

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