C.G. IMPEX LIMITED
ANNUAL REPORT 2006-2007
The Members of
C.G. IMPEX LIMITED
Your Directors have pleasure in presenting their the 12th Annual Report
together with the Audit Accounts for the year ended on 31st March, 2007.
Amt. Rs. in lacs
Particulars 2006-07 2005-06
Sales and other Income 17515.95 81112.25
Profit before Tax 321.98 25.23
Net Profit for the Year 202.05 15.97
Your directors are pleased to report that during the whole year favorable
Conditions prevailed in the Bullion markets and in-spite of reduction in
turnover the profit margins have increased substantially. Your company
could earned a net revenue of Rs. 17514.95 lacs as compared to Rs. 81112.26
lacs for the previous year. For the year under review, the Company has
achieved net profit of Rs. 15.97 lacs as compared to Rs. 202.05 lacs for
the preceding year. Your directors expect better results for the current
Considering various factors such as present requirement of long term funds,
current market conditions etc., your directors have not recommended any
dividend for the year under report.
During the year under review your Company has not accepted any fixed
deposits from the public and therefore no information is required to be
furnished in respect of outstanding deposits.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS
A. In view of the nature of operations, we have nothing to report on the
conservation of energy, technology absorption matter.
B. The information required to be given in respect of foreign exchange
earnings and outgo is provided in the notes forming part of accounts.
Members are requested to refer the same.
PARTICULARS OF EMPLOYEES
The Company has no employees whose salary exceeding the limits prescribed
under Section 217 (2A) of the Companies Act, 1956. Hence the information
required to be given under the said section read with Companies
(Particulars of Employees) Rules, 1975 do not apply.
DIRECTORS RESPONSIBILITY STATEMENT:
Your Directors confirm that :
(i) In the preparation of annual accounts, the applicable accounting
standards have been followed.
(ii) Appropriate accounting policies have been selected and applied
consistently and have made judgements arid estimates that are reasonable
and prudent so as to give a true and fair view of state of affairs of the
company as at 31st March, 2007 and of the profit of the company for the
year ended on that date.
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of your company and for
preventing and detecting fraud and other irregularities.
(iv) The Directors had prepared the annual accounts on a 'going concern
A report on Corporate Governance is also enclosed and forms part of the
Shri. Pravinchandra C. Soni retire by rotation and being eligible offer
himself for re-appointments.
LISTING OF THE SHARES:
Your Company's equity shares are listed with the Ahmedabad Stock Exchange
Limited and Bombay Stock Exchange Limited. The company's shares are
available for dematerialization on both the depositories viz. National
Securities Depository Ltd (NSDL) and Central Depository Services (India)
Ltd. The Company has paid necessary listing fees to these exchanges.
The Auditors M/s. R.R. Tibrewala & Co., Chartered Accountants retire at the
ensuing annual general meeting. The Company has received a certificate from
the auditors stating that their appointment, if made, will be within the
limits prescribed under section 224 (1B) of the Companies Act, 1956. The
Board propose to reappoint them.
The Board wish to place on record their sincere appreciation and
acknowledge with gratitude the efforts put in and co-operation extended by
bankers, shareholders, employees at all level and all other associated
persons, bodies or agencies for their continued support.
For and on Behalf of Board of Directors
Place : Ahmedabad
Date : 18.06.2007 MANUBHAI C. SONI
Chairman Cum Managing Director
MANAGEMENT DISCUSSION AND ANALYSIS
Industry Structure & Developments
C.G. IMPEX LIMITED is in the business of Gems & Jewellery, which are widely
used by the general public for various purposes.
Performance of your company for financial year ended on 31st March, 2007
has been satisfactory. Your Company achieved the turnover of Rs. 17515.95
lacs and earned at profit after tax of Rs. 202.05 lacs for year against
last year profit of Rs. 15.97 lacs.
Our policy is to identify customers need, design and develop products,
subsequently manufacture & supply at competitive pries to achieve total
Internal control System/ Human Resources
Considering the size of the company, your Company has adequate system of
internal control to provide reasonable assurance that assets are
safeguarded & protected from unauthorised use or disposition. During the
financial year ended 31st March 2007, industrial relations continued to
Based on the buoyancy of the Indian economy, the over all scenario and the
steps taken by the Management, the future outlook of your Company looks
RISKS AND CONCERN
The development of the company would depend on overall macro and micro
economic policy of the Government. The rapid change in technological
advancement requiring huge investment is an area of concern for the
Company. Competition both at domestic and international level is increasing
Statements in the Management Discussions and Analysis Report in regard to
projections, estimates and expectations may be 'forward looking statements'
within meaning of applicable securities laws and regulations. Many
unforeseen factors may come into place and affect the actual results, which
could be different from what Directors envisage in terms of future
performance and outlook. Market data and product information contained in
this report have been based on information gathered from the various
sources published and un-published reports, and their accuracy, reliability
and completeness cannot be assured.