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Bloom Industries Ltd.

BSE: 513422 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE373E01015
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VOLUME 500
52-Week high 4.80
52-Week low 4.20
P/E 16.55
Mkt Cap.(Rs cr) 2.26
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.80
CLOSE 4.60
VOLUME 500
52-Week high 4.80
52-Week low 4.20
P/E 16.55
Mkt Cap.(Rs cr) 2.26
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bloom Industries Ltd. (BLOOMINDS) - Director Report

Company director report

To

The Members

Your Directors have great pleasure in presenting the Twenty Sixth Annual Report and theAudited Statements of Accounts of the Company for the year ended 31st March2015.

FINANCIAL RESULTS:

PARTICULARS 2014-2015 2013-2014
Income from operation 2231097 2583256
Other Income 2119623 2908560
Profit before Depreciation and Exceptional Items 950867 2588794
Less: Depreciation 1088532 1916109
Add/(Less): Exceptional items 242837 4219
Profit/ (Loss) before Tax (380502) 668466
Less: Provision for Taxation - 127376
Profit/ (Loss) after Tax (380502) 541090
Less: Earlier Year Adjustment - -
Net Profit/(Loss) (380502) 541090
Add: Balance of Profit brought forward from previous year (7329831) (7870921)
Add: Depreciation for change of estimated life of fixed assets (1210343) -
Balance Carried to Balance Sheet (8920676) (7329831)

REVIEW OF OPERATIONS

During the year under review the total income was Rs. 4350720 as against the incomeof Rs.5491816 of the previous year. The Company incurred net loss of Rs. 380502 asagainst net profit after tax of Rs. 541090 in the previous year 2013-2014.

DIVIDEND

In view of accumulated brought forward losses the Board of Directors do not recommendany Dividend.

EXTRACT OF ANNUAL RETURN

The details forming part of the Extract of the Annual Return in Form MGT-9 as requiredunder Section 92 of the Companies Act 2013 is included in this report as Annexure A andforms an integral part of this report.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of Section 152 of the Companies Act 2013 andArticles of Association of the Company Mr. Sharad Kumar Gupta (DIN: 00844289) Whole TimeDirector of the Company retires by rotation at the ensuing Annual General Meeting andbeing eligible has offered himself for re-appointment.

The Board of Directors on recommendation of Nomination and Remuneration Committeeappointed Mrs. Sudarshini Chaudhary (DIN: 07084648) as an Additional Director with effectfrom 13th January 2015 who holds the office till the conclusion of the ensuingAnnual General Meeting. The Company has received a Notice in writing from a Member underSection 160 of the Companies Act 2013 signifying his intention to propose Mrs. SudarshiniChaudhary as candidate for the office of the Director of the Company and according she isbeing proposed to be appointed as a Director of the Company to be designated asNonExecutive Non- Independent Director.

All Independent Directors have given declarations that they meet the criteria ofIndependence as laid down under Section 149(6) of the Companies Act 2013.

Mr. Rohit G. Lohia (DIN: 03216254) and Mr. Ashish Chaudhary (DIN: 01823244) resigned asDirector of the Company w.e.f 13th January 2015. The Board of Directors placeon record their valuable services rendered to the Company during the tenure as Directorsof the Company.

SHARE CAPITAL

The paid up Equity Share capital as on 31st March 2015 was Rs.47060000/-. During the year under review the Company has not issued any shares withdifferential rights as to Dividend Voting or otherwise or Convertible Debentures.

BOARD EVALUATION

Pursuant to Section 178(2) of the Companies Act 2013 the Nomination and RemunerationCommittee has carried out evaluation of performance of every Director. The board hascarried out an Annual performance evaluation of its own performance of the Directorsindividually as well as evaluation of the working of its various Committees. Theperformance evaluation of Independent Director was carried out by the entire Boardexcluding the Director being evaluated. The performance evaluation of the Chairman andNon-Independent Director was carried out by the Independent Director at their separatemeeting.

NUMBER OF MEETINGS OFTHE BOARD

The details of the number of meetings of the Board held during the Financial Year2014-15 is as under:

Name of the Director Number of Board meetings held Number of Board meetings attended Attended last AGM Shareholding in the Comapany as of March 31 2015 (No. of shares)
Mr. Kamal Kumar Chaudhary 6 6 Yes 2717800
Mr. Sharad Kumar Gupta 6 6 Yes Nil
Mr. Ashish Chaudhary1 6 4 Yes Nil
Mr. Rohit Lohia2 6 4 Yes Nil
Mr. Rajesh Kumar Nagori 6 6 Yes Nil
Mr. Vinod Jakhoria 6 6 Yes Nil
Mrs. Sudarshini Chaudhary 6 2 N.A Nil

Note: 1. Mr. Ashish Chaudhary ceased to be the Managing Director w.e.f. 13thJanuary 2015.

2. Mr. Rohit Lohia ceased to be the Independent Director w.e.f. 13thJanuary 2015.

3. Mrs. Sudarshini Chaudhary was appointed to the Board as Additional Director w.e.f.13th January 2015.

POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION

The Company's policy on Directors Appointment and Remuneration including criteria fordetermining qualifications positive attributes independence of a Director and othermatters provided under subsection (3) of Section 178 of the Companies Act 2013 isavailable on Company's website at the link http://www.bloom-industries.com/investorrelation/corporate policies & code.

INTERNAL FINANCIAL CONTROLS

The Board has laid down Internal Financial Control Policy to be followed by the Companyand the policy is available on Company's website at the linkhttp://www.bloom-industries.com/investor relation/corporate policies & code. TheCompany has in place adequate internal financial controls with reference to financialstatements. During the year such controls were reviewed and no reportable materialweakness in the operation was observed.

FIXED DEPOSITS

The Company has not accepted any Fixed Deposits during the year.

PARTICULARS OF LOANS GIVEN INVESTMENTS MADE GUARANTEE GIVEN AND SECURITIES PROVIDED

The details of Loans and Advances have been given in Note No. 11 of the Annual Report.The Company has however has not made/provided any Investments Guarantee given andSecurities provided during the year under report nor there is any Investments LoansGuarantees as at 31st March 2015.

VIGIL MECHANISM

The Vigil Mechanism of the Company is incorporated under Whistle Blower Policy.Protected Disclosures can be made by a Whistle Blower through an e-mail or to the Chairmanof the Audit Committee. The Policy on Vigil Mechanism and Whistle Blower Policy can beaccessed on the Company's Website at the link http://www.bloom-industries.com/investorrelation/corporate policies & code.

RELATED PARTYTRANSACTIONS

During the Financial Year 2014-15 your Company has entered into transactions withRelated Parties as defined under Section 2(76) of the Companies Act 2013 read with TheCompanies (Specifications of Definitions details) Rules 2014. The details of suchtransaction are given in Note No. 26 of the Financial Statements forming part of thisAnnual Report.

AUDITORS ANDTHEIR REPORTS

a. STATUTORY AUDITOR

M/s. Sarda Soni & Associates Chartered Accountants (Firm Registration Number:117235) who are Statutory Auditors of the Company hold office upto the forth coming AnnualGeneral Meeting are recommended for reappointment to audit the accounts of the Company forthe Financial Year 2015-16. As required under the provisions of Section 139 of theCompanies Act 2013 the Company has obtained written confirmation from M/s. Sarda Soni& Associates that their appointment if made would be in conformity with the limitsspecified in the said section.

The Report given by the Statutory Auditor for the Financial Statements for the yearended 31st March 2015 read with Explanatory Notes thereon do not call for anyexplanation or comments from the Board under Section 134 of the Companies Act 2013.

b. SECRETARIAL AUDIT

Pursuant to the provisions of Section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board hasappointed Dr. S. K. Jain & Co. Practising Company Secretaries to conduct SecretarialAudit for the Financial Year 2014-15. The Secretarial Audit Report for the Financial Yearended 31st March 2015 is annexed herewith marked as "Annexure A" tothis Report. The observations made by the Secretarial Auditor in his report are self-explanatory.

c. INTERNAL AUDITOR

The Company is engaged in sharing decoiling and corrugation of Hot rolled Cold rolledand Galvanised (HR CR and Galvanised) Coils abd also does job work of the said productsat its factory at Taloja District Raigad (Maharashtra). During the financial year2014-15 the Company has earned Income of Rs. 2231097/- through job work. In view ofinsignificant scale of operations the Company has not appointed External InternalAuditors. However the Company has adequate system of Internal check and control and thefunctions of Internal Auditor is being looked after by Whole Time Director and ChiefFinancial Officer.

d. COST AUDITOR

The Company is not required to maintain Cost Audit Records as its turnover is less thanRs. 1 Crore Company not engaged in production of goods or providing services in respectof which any order has been passed by the Central Government under Section 148 of theCompanies Act 2013 read with the Companies (Cost Records and Audit) Rules 2014.

RISK MANAGEMENT

The Company has laid down the procedures to inform to the Board about the risk aboutRisk assessment and minimization procedures and the Board has formulated Risk Managementpolicy to ensure that the Board its Audit Committee should collectively identify riskimpacting the Company's business and document their process of risk identification andrisk minimisation as a part of Risk Management Policy/Strategy. The Risk Management Policyof the Company is available on Company's website at the linkhttp://www.bloom-industries.com/investor relation/corporate policies & code.

PERSONNEL

The Company has not employed any individual whose remuneration falls within the purviewof the limits prescribed under the provisions of Section 197 of the Companies Act 2013read with Rule 5(2) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014.

Disclosures pertaining to Remuneration and other details as required under Section197(12) of the Companies Act 2013 read with Rule 5(1) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 are given below:

1 The ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the financial year 2014-15 Sr. No. Name of Director Ratio of the remuneration of each director to the median remuneration of the employees
1 Mr. Ashish Chaudhary 10.26 : 1
2 Mr. Sharad Kumar Gupta 1.54 : 1

 

2 The percentage increase in remuneration of each Director Chief Financial Officer Chief Executive Officer Company Secretary or Manager in the financial year 2014-15:- Sr. No. Name Designation Increase in remuneration in the financial year 2014-15
Not Applicable
3 The percentage increase in the median remuneration of employees in the financial year During the Financial Year 2014-15 there was increase in the median remuneration of Employees. There was increase of 20% due to reduction in the number of workers.
4 The number of permanent employees on the rolls of Company 7
5 The explanation on the relationship between average increase in remuneration and Company performance Since the Company has incurred loss during the year 2014-15 there is no relationship between average increase in remuneration and Company performance
6 Comparison of the remuneration of the Key Managerial Personnel (KMP) against the performance of the Company Aggregate remuneration of Key Managerial Personnel (KMP) in Financial Year 2014-15 879516
Revenue 4350720
Remuneration of KMP’s (as a % of Revenue) 20.22
Profit Before Tax (PBT) (380502)
Remuneration of KMP’s (as a % of (PBT) (231.15)

 

7 (a) Variation in the market capitalisation of the Company price earnings ratio as at the closing date of the current financial year and previous financial year Particulars As on 31.03.2015 As on 31.03.2014
Market Capitalisation Rs. 28330120 Rs. 18824000
Closing rate of shares at BSE* 6.02 4.00
Earning per share (0.08) 0.11
(b) percentage increase or decrease in the market quotation of the shares of the Company in comparison to the rate at which the Company came out with the last public offer Price (125) 90.1
*Since the Shares of the Company are not frequently traded so the last closing rate of shares at BSE has been taken for the purpose of calculating the market capitalisation of the Company.
Particulars Market rate (BSE)* Year 2015 6.02 Year 1993 (IPO) 10.00
*Since the Shares of the Company are not frequently traded so the last closing rate of shares at BSE has been taken for the purpose of calculating the market capitalisation of the Company.
8 Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof The average percentile increase in the salaries of the employees other than the managerial personnel in the last financial year is 20% whereas the increase in the remuneration of the managerial personnel is 3.89%. Justification: The percentile increase in the managerial remuneration in the financial year 2014-15 is lower as compared with the average percentile increase of the employees.
9 Comparison of each remuneration of the key managerial personnel against the performance of the Company Name of Key Managerial personnel Mr. Ashish Chaudhary (Managing Director Mr. Sharad Kumar Gupta (Whole-Time Director)
Remuneration paid during the FY 2014-15 Rs. 738710 Rs. 140806
Revenue Rs. 4350720 Rs. 4350720
Remuneration as % of revenue 16.98 3.24
Profit Before Tax (PBT) Rs. (380502) Rs. (380502)
Remuneration as % of PBT (194.14) (37.01)
10 The key parameters for any variable components of remuneration availed by the directors Not Applicable
11 The ratio of the remuneration of the highest paid Director to that of the employees who are not Directors but receive remuneration in excess of the highest paid Director during the year. None
12 Affirmation that the remuneration is as per the remuneration policy of the Company: The company affirms remuneration is as per the remuneration policy of the Company to all the directors Key Managerial Personnel and other Employees.

CORPORATE GOVERNANCE

Clause 49 of the Equity Listing Agreement executed with the BSE Limited is notapplicable to the Company pursuant to the circular no.: CIR/CFD/POLICY CELL/7/2014 datedSeptember 15 2014 issued by the Securities and Exchange Board of India and circular no.:DCS/COMP/10/2014-15 September 16 2014 issued by the BSE Limited. As the paid up ShareCapital of the Company is less than 10 crores and its Net Worth does not exceed 25 croresas on 31st March 2014. Hence the Corporate governance Report is not included in thisReport.

DIRECTORS RESPONSIBILITY STATEMENT

As required under Section 134(3)(c) of the Companies Act 2013 with respect to theDirector’s Responsibility Statement it is hereby confirmed:

i) That in preparation of Annual Accounts for the Year ended 31st March 2015 theapplicable Accounting Standards have been followed along with proper explanation relatingto material departures.

ii) That the Directors have selected such Accounting Policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of state of affairs of the Company at the end of the FinancialYear and of the Profit & Loss of the Company for that period.

iii) The Directors have taken proper and sufficient care for the maintenance ofadequate Accounting records in accordance with the provisions of the Companies Act 2013for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

iv) That the Directors have prepared the Annual Accounts on a going concern basis.

v) The Directors had laid down Internal Financial Control to be followed by the Companyand that such internal financial control are adequate and were operating effectively.

vi) The Directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such system were adequate and operating effectively.

COMMITTEES OFTHE COMPANY

The details relating to all the Committees constituted by the Company are as follows:

Audit Committee

(a) COMPOSITION:

Audit Committee of the Board of Directors is interested with the responsibility tosupervise the Company’s internal financial controls and financial reporting process.The Composition and quorum are in accordance with Section 177 of the Companies Act 2013.All members of the Audit Committee possess financial/accounting expertise/exposure.

The Audit Committee comprised of:

Sr.No. Name Designation
1 Mr. Rajesh Kumar Nagori Independent Director (Chairman of the Committee)
2 Mr. Vinod Kumar Jakhoria Non Executive Independent Director
3 Mr. Rohit Lohia Non Executive - Independent Director

The Audit Committee was re-constituted w.e.f 13th January 2015 and comprises of thefollowing:

Sr.No. Name Designation
1 Mr. Rajesh Kumar Nagori Independent Director (Chairman of the Committee)
2 Mr. Vinod Kumar Jakhoria Non Executive Independent Director
3 Mrs. Sudarshini Chaudhary Non-ExecutiveNon-Independent Director

(b) MEETINGS AND ATTENDANCE:

The Audit committee met Four (4) times during the Financial Year 2014-15. The Committeemet on 28th May 2014 14th August 2014 29th October 2014 and 13th February 2015. TheNecessary quorum was present for all Meetings. The Chairman of the Audit Committee waspresent at the last Annual General Meeting of the company. The table below providedAttendance of the Audit Committee members.

SR. No. NAME OF THE DIRECTOR POSITION CATEGORY MEETINGNGS ATTENDED
1. Mr. Rajesh Kumar Nagori Chairman Non-Executive Independent 4
2. Mr. Vinod Kumar Jakhoria Member Non-Executive Independent 4
3. Mrs. Sudarshini Chaudhary Member Non-Executive Non-Independent Director 1

(c) TERMS OF REFERENCE:

The terms of reference of the Audit Committee inter alia include the following:

i. The recommendation for appointment remuneration and terms of appointment ofAuditors of the Company.

ii. Review and monitor the Auditors Independence and performance and effectiveness ofAudit process.

iii. Examination of the financial statement and Auditors Report thereon.

iv. Approval or any subsequent modification of transaction of the Company with relatedparties.

PROVIDED THAT the Audit Committee may make Omnibus Approval for related partytransactions proposed to be entered into by the Company subject to such consultations asmay be prescribed.

v. Scrutiny of into Corporate Loans and Investments.

vi. Valuation of undertakings or assets of the Company wherever it is necessary.

vii. Evaluation of internal financial controls and risk management system.

viii. Monitoring the end use of funds raised through public offers and related matters.

ix. Calling for the Comments of the Auditors about internal control system the scopeof Audit including the observations of the Auditors and review of Financial Statementsbefore their submission to the Board and may also discuss any related issues with theInternal and Statutory Auditors and Management of the Company.

x. Authority to investigate into any matter in relation to the item specified from (i)to (ix) above or referred to it by the Board.

(d) FUNCTION:

The Audit Committee while reviewing the Annual Financial Statement also review theapplicability of various Accounting Standards (AS) referred to in Section 133 of theCompanies Act 2013. Compliance of the Accounting Standard as applicable to the Companyhas been ensured in the preparation of the Financial Statement for the year ended 31stMarch 2015.

Besides the above Chairman and Managing Director Whole-Time Director Chief FinancialOfficer Business heads of the Company divisions and the representatives of the StatutoryAuditors are permanent invitees of the Audit Committee meetings.

The Audit Committee also oversees and reviews the functioning of Vigil Mechanism(implemented in the Company as a Risk Management Policy and Whistle Blower Policy) andreview the finding of investigation in the cases of material nature and the action takenin respect thereof.

NOMINATION AND REMUNERATION COMMITTEE

(a) COMPOSITION:

The Board of Directors has framed policy which lays down a framework in relation toremuneration of Directors Key Managerial Personnel and Senior Management of the Company.This policy also lays down criteria for selection and appointment of Board Members. TheConstitution of the Nomination and Remuneration Committee:

Sr.No. Name Designation
1 Mr. Rajesh Kumar Nagori Independent Director (Chairman of the Committee)
2 Mr. Vinod Kumar Jakhoria Non Executive Independent Director
3 Mr. Rohit Lohia Non Executive - Independent Director

The Nomination and Remuneration Committee was re-constituted w.e.f 13th January 2015and comprises of the following:

Sr.No. Name Designation
1 Mr. Rajesh Kumar Nagori Independent Director (Chairman of the Committee)
2 Mr. Vinod Kumar Jakhoria Non Executive Independent Director
3 Mrs. Sudarshini Chaudhary Non-Executive Non- Independent Director

(b) MEETING AND ATTENDANCE:

The Nomination and Remuneration Committee met Three (3) times during the Financial Year201415. The Committee met on 28th May 2014 13th January 2015 and 30th March 2015. Thenecessary quorum was present for all Meetings. The Chairman of the Nomination andRemuneration Committee was present at the last Annual General Meeting of the company. Thetable below provided Attendance of the Audit Committee members.

SR. No. NAME OF THE DIRECTOR POSITION CATEGORY MEETINGS ATTENDED
1. Mr. Rajesh Kumar Nagori Chairman Non-Executive Independent 3
2. Mr. Vinod Kumar Jakhoria Member Non-Executive Independent 3
3. Mrs. Sudarshini Chaudhary Member Non-Executive Non- Independent Director 1

(c) TERMS OF REFERENCE:

The Committees composition meets with requirements of Section 178 of the Companies Act2013. The terms of reference of the Committee inter alia includes the following:

1. To identify persons who are qualified to become Directors and who may be appointedin Senior Management in accordance with the criteria let down and to recommend to theBoard their appointment and removal and shall carry out evaluation of every Directorsperformance.

2. To formulate the criteria for determining qualifications positive attributes andindependence of a Directors and recommend to the Board a Policy relating to theremuneration for the Directors Key Managerial Personnel and other Employees.

3. To ensure that the level and composition of remuneration is reasonable andsufficient to attract retain and motivate Directors of the quality required to run theCompany successfully.

4. To ensure that relationship of remuneration to performance is clear and meetsappropriate performance benchmark.

5. To ensure that remuneration to Directors Key Managerial Personnel and SeniorManagement involves balance between fixed and incentive pay reflecting short term and longterm performance objectives appropriate to the working of the Company and its goals.

STAKEHOLDERS RELATIONSHIP COMMITTEE:

(a) COMPOSITION:

The Board has reconstituted Shareholders’/Investors Grievance Committee asStakeholders Relationship Committee in accordance with the provisions of the CompaniesAct 2013. The Stakeholders Relationship Committee comprised of:

Sr.No. Name Designation
1 Mr. Rajesh Kumar Nagori Independent Director (Chairman of the Committee)
2 Mr. Vinod Kumar Jakhoria Non Executive Independent Director
3 Mr. Rohit Lohia Non Executive - Independent Director

The Stakeholders Relationship Committee was re-constituted w.e.f 13th January 2015 andcomprises of the following:

Sr.No. Name Designation
1 Mr. Rajesh Kumar Nagori Independent Director (Chairman of the Committee)
2 Mr. Vinod Kumar Jakhoria Non Executive Independent Director
3 Mrs. Sudarshini Chaudhary Non-Executive Non- Independent Director

(b) MEETINGS AND ATTENDANCE:

The Stakeholders Relationship Committee met Five (5) times during the Financial Year2014-15. The Committee met on 28th May 2014 14th August 2014 29th October 2014 13thJanuary 2015 and 13th February 2015. The necessary quorum was present for all Meetings.The Chairman of the Stakeholders Relationship Committee was present at the last AnnualGeneral Meeting of the company. The table below provided Attendance of the Audit Committeemembers.

SR. NO. NAME OF THE DIRECTOR POSITION CATEGORY MEETINGS ATTENDED
1. Mr. Rajesh Kumar Nagori Chairman Non-Executive Independent 5
2. Mr. Vinod Kumar Jakhoria Member Non-Executive Independent 5
3. Mrs. Sudarshini Chaudhary Member Non- Executive Non-Independent Director 1

(c) TERMS OF REFERENCE:

The Company with the assistance of the Registrar and Share Transfer Agent M/s. PurvaSharegistry (India) Private Limited attend to all grievances of the Shareholders receiveddirectly through SEBI Stock Exchanges Ministry of Corporate Affairs Registrar ofCompanies etc. The Minutes of the Stakeholders Relationship Committee Meetings arecirculated to the Board and noted by the Board of Directors at the Board Meeting.

Continuous efforts are made to ensure that grievances are more expeditiously redressedto the complete satisfaction of the Investors. Shareholders are requested to furnish theirTelephone Numbers and e-mail address to facilitate prompt action.

(d) DETAILS OF SHAREHOLDERS COMPLAINTS RECEIVED SOLVED AND PENDING SHARE TRANSFERSCOMPLAINTS:

Sr. No. Nature of the complaint Received Replied Pending
1 Non-receipt of shares certificates lodged for transfer 0 0 0
2 Non-receipt of dividend warrants 0 0 0
3 Non-receipt of dividend warrants after revalidation 0 0 0
4 Non-receipt of share certificates lodged for split/ Bonus shares 0 0 0
5 Non Receipt of duplicate shares certificates 0 0 0
6 Letters from SEBI / stock Exchange 0 0 0
7 Letters from Department of Company Affairs / Other Statutory Bodies 0 0 0
Total 0 0 0

During the year nil complaints regarding non-receipt of shares sent for transfer Dematqueries were received from the shareholders all of which have been resolved. The companyhad no transfers pending at the close of 31.03.2015.

REQUESTS:

Sr. No. Nature of the Requests Received Replied Pending
1 Receipt of dividend warrants for revalidation 0 0 0
2 Request for mandate correction on Dividend warrants 0 0 0
3 Request for duplicate Dividend warrant 0 0 0
4 Request for copy of Annual Report 0 0 0
5 Request for TDS Certificate 0 0 0
6 Request for exchange of split Share certificate 0 0 0
Total 0 0 0

ENERGY CONSERVATION. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS ANDOUTGO

The Particulars with respect to energy conservation technology absorption foreignexchange earnings and outgo as required to be disclosed under Section 134(3)(m) of theCompanies Act 2013 read with Rule 8(3) of The Companies (Accounts) Rules 2014 andforming part of the Directors’ Report for the year ended 31st March 2015 are annexedto this report.

(A) POWER AND FUEL CONSUMPTION

Electricity at factory 2014-15 2013-14
Purchase Unit (KWH) 81466 78088 units
Total Amount Rs. 563651/- Rs. 637899/-
Rate/ Unit: Rs. 6.92 Rs. 8.17

(B) TECHNOLOGY ABSORPTION

No Research and Development work has been carried out by the Company and thereforethere is no expenditure on this head or any benefit accrued from it.

(C) FOREIGN EXCHANGE EARNINGS AND OUTGO

The Foreign Exchange Earning during the year is Rs. NIL and Outgo Rs. NIL.

ACKNOWLEDGEMENTS

The Directors have pleasure to place on record their appreciation for the valuableco-operation and assistance by the Company’s Bankers Financial InstitutionsAssociates Investors and Employees.

Your Directors are also pleased to record their appreciation for the dedication andcontribution made by employees at all levels who through their competence and hard workhave established Company to achieve better performance and look forward to their supportin future as well.

By Order of the Board of Directors
Kamal Kumar Chaudhary
Place: Mumbai Chairman
Date: 20/08/2015
Registered Office:
C-23/2 M.I.D.C.
Taloja - 410208
Dist. Raigad
Maharashtra

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