DIRECTORS REPORT AND MANAGEMENT DISCUSSION AND ANALYSIS
AND MANAGEMENT DISCUSSION AND ANALYSIS
Your Directors have pleasure in presenting the Annual Report of your Company along withthe Audited Statement of Accounts for the Period ended 31st March 2013.
|Particulars ||Year Ending March 2013 ||Year Ending March 2012 |
| ||Amt. in Rs. ||Amt. in Rs. |
|Sales/Revenue from Operations ||386979030 ||34681647 |
|Other Income ||84094 ||3476214 |
|Total Income ||387063124 ||38157861 |
|Less: Expenditure ||384334375 ||37634875 |
|Profit/(Loss) before Interest Depreciation & Tax ||2728749 ||522986 |
|Less: Interest ||- ||- |
|:Depreciation and Amortization Cost ||13888 ||8406 |
|Profit/(Loss) before Tax ||2714861 ||514580 |
|Tax Expense ||1040086 ||162295 |
|Profit/(Loss) after Tax ||1674775 ||352285 |
|Add: Profit/(Loss) Brought Forward ||847337 ||495052 |
|Amount available for Appropriation/(Loss) ||2522112 ||847337 |
RESULTS OF OPERATION REVIEW:
During the current period of operation your company has shown a marked improvement asturnover has increased in FY 2012-13 from Rs.346.81 Lakhs during FY 2011-12 to Rs.3869.79Lakhs during FY 2012-13. Profit after Tax of the company has increased to Rs.16.75 Lakhsduring F.Y. 2012-13 as compared to Rs.3.52 Lakhs during FY 2011-12.
CHANGE OF REGISTERED OFFICE
The company has changed its Registered Office from 3 Raja Devendra Narayan Deb Lane1st Floor Kolkata West Bengal 700005 to 158 Lenin Sarani 3rd Floor RoomNo.7B Kolkata West Bengal 700 013 with effect from June 12 2012
CHANGE OF NAME
The name of the Company was changed from Shivpujan Agencies Private Limited to BronzeInfra-Tech Private Limited on July 02 2012. Thereafter the Company was converted into apublic limited company under the Companies Act1956 and the name of the Company waschanged to its present name Bronze Infra-Tech Limited pursuant to freshcertificate of incorporation consequent upon change of name on conversion to publiclimited company dated July 04 2012 issued by the Registrar of Companies West Bengal.
LISTING OF EQUITY SHARES ON SME SEGMENT OF BSE
Your Directors are pleased to inform you that your company has got its equity shareslisted on SME platform of BSE Limited on 7th of November 2012.
The Company has decided to sustain the growth in line with the long term growthobjectives of the Company by retaining the profits and utilizing the same foropportunities in hand therefore the board did not recommend any dividend.
The Company had no employee during the year under review who was in receipt ofremuneration in excess of the limit specified under section 217(2A) of the Companies Act1956 read with Companies (Particulars of Employees) Amendment Rules 2011.
Your Companys work force and management have been working with mutual respectco-operation and understanding. The Board wishes to appreciate the efforts put in by allthe categories of employees towards the progress achieved by the Company during the year.
The Board of Directors are experienced in their respective fields.
The Auditors M/s. Surana Singh Rathi & Co. Chartered Accountants retire at theforthcoming General Meeting and being eligible for re-appointment the Company hasreceived a certificate from the auditors to the effect that their re-appointment if madewould be within the prescribed limits under Section 224 (1B) of the Companies Act 1956.
As regards the observations in the Auditors Report the explanations given in theNotes to the Accounts are self- explanatory.
The company has not accepted any deposit within the meaning of the section 58A of theCompanies Act 1956.
CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO:
The information pursuant to section 217(1) (e) of the Companies (Disclosures ofParticulars in the report of Board of Directors) Rules 1988 is as under;
A. Conservation of Energy: Nil
B. Technology Absorption Research & Development::Nil
C. Foreign Exchange Earning / Outgo : Nil.
As regards the observations in the Auditors Report the explanations given in theNotes to the Accounts are self explanatory.
APPOINTMENT/RE-APPOINTMENT OF DIRECTORS:
Mr. Sumit Sharma has resigned from the Directorship of the Company w.e.f. 17.04.2013.The Board of Directors recorded its appreciation for the valuable services rendered by Mr.Sumit Sharma. Mr. Prasanta Nath has been appointed as the additional director of theCompany w.e.f. 17.04.2013.
In accordance with Section 255 and 256 of the Companies Act 1956 read with theArticles of Association of the Company Mr. Niraj Jewrajka and Mr. Punit Sureka retire byrotation and are being eligible offer themselves for re-appointment at the ensuing AnnualGeneral Meeting.
Based on the confirmations received from Directors none of the Directors aredisqualified from appointment under Section 274(1)(g) of the Companies Act 1956.
A report on Corporate Governance along with a Certificate from the Practicing CompanySecretaries of the Company regarding the compliance with conditions of CorporateGovernance as also the Management Discussion and Analysis Report as stipulated underClause 52 of the Model SME Equity Listing Agreement are annexed to this Report.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirements of the provisions of Section 217(2AA) of the CompaniesAct 1956 your Director Confirms as under:
i) That in the preparation of the annual accounts the applicable accounting standardshas been followed along with proper explanation relating to material departure;
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 the state of affairs of the Company at the end of thefinancial year viz. March 31 2013 and of the profit of the Company for the year ended onthat date;
iii) That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Act forsafeguarding the assets of the Company and for preventing and detaching fraud and otherirregularities;
iv) That the directors have prepared the annual accounts on going concern basis.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
As required under Clause 52 of the Model SME Equity Listing Agreement with the StockExchanges the Management Discussion and Analysis of the financial condition and resultsof consolidated operations of the Company under review is annexed and forms an integralpart of the Directors Report.
The Directors wish to thank and deeply acknowledge the co- operation assistance andsupport extended by the Government Authorities Companys Bankers Dealers VendorsCustomers Suppliers Shareholders and other who have supported the company during itsdifficult time and hope to receive their continued support.
The Directors also wish to place on record the appreciation for the all roundco-operation and contribution made by employees at all levels.
| ||For and on behalf of the Board of Directors |
| ||Sd/- ||Sd/- |
| ||Mr. Manoj Kumar Bajaj ||Punit Sureka |
| ||Managing Director ||Director |
|Place: Kolkata || || |
|Date: 4th September'2013 || || |