You are here » Home » Companies » Company Overview » Cenlub Industries Ltd

Cenlub Industries Ltd.

BSE: 522251 Sector: Engineering
NSE: N.A. ISIN Code: INE627F01011
BSE LIVE 15:09 | 07 Dec 38.50 -0.80
(-2.04%)
OPEN

38.00

HIGH

40.95

LOW

38.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 38.00
PREVIOUS CLOSE 39.30
VOLUME 2205
52-Week high 43.90
52-Week low 16.40
P/E 10.41
Mkt Cap.(Rs cr) 15.86
Buy Price 38.00
Buy Qty 10.00
Sell Price 38.50
Sell Qty 22.00
OPEN 38.00
CLOSE 39.30
VOLUME 2205
52-Week high 43.90
52-Week low 16.40
P/E 10.41
Mkt Cap.(Rs cr) 15.86
Buy Price 38.00
Buy Qty 10.00
Sell Price 38.50
Sell Qty 22.00

Cenlub Industries Ltd. (CENLUBINDS) - Director Report

Company director report

DIRECTORS' REPORT

To

The members of CENLUB Industries Limited

Your Directors have pleasure in presenting their report and audited accounts for theyear ended on 31st March 2014.

Financial Results :

(Rs. in Lacs)
Particulars

Consolidated

Stand Alone

April 2013 -March 2014 April 2012 -March 2013 April 2013 -March 2014 April 2012 -March 2013
Net Sales 2520.21 3303.92 2520.15 3302.90
Other Income 86.69 63.43 86.41 63.43
Operating Profit before Finance cost Depreciation Tax and Extraordinary items 279.43 499.24 274.17 492.53
Less: Depreciation and amortization expenses finance Costs 238.26 176.52 233.40 167.42
Profit before tax and Extraordinary items 41.17 322.72 40.77 325.11
Less: Tax 12.88 100.83 12.81 100.83
Profit (Loss) after Tax 28.29 221.89 27.96 224.28
Add: Balance brought forward 943.14 721.25 946.26 721.98
Total available for appropriation 28.29 943.14 974.22 946.26
Less: Provision for earlier Year(Leave Encashment) 0 0 0 0
Proposed Dividend 0 0 0 0
Corporate Dividend Tax 0 0 0 0
Balance carried forward 971.43 943.14 974.22 946.26

Operational Performance

However Company is Trying its best to fight the situation to get Better Results.

Future Outlook

With the change in National Policy Company. Expects Better Results as the IndustrialGrowth is already Showing Some Positive Sign.

Dividend

Due to the reduced profits and the decrease in the cash accruals there is an increasedpressure on the cash flows. Also due to the additional borrowings made for implementingthe capital projects under expansion there is an increase in the commitments towardsrepayments to the lending banks. As such Board of Directors feel appropriate not torecommend any dividend for the Financial Year 2013-2014.

Consolidated Financial Statements

Consolidated Financial Statements in accordance with Accounting Standard-21 issued byThe Institute of Chartered Accountants of India have been provided in the Annual Report.These Consolidated Financial Statements provide financial information about your Companyand its subsidiaries as a single economic entity. The Consolidated Financial Statementsform a part of the Annual Report.

Management Discussion and Analysis Report

Management Discussion and Analysis Report (MD&A) for the year under review asstipulated under Clause 49 of the Listing Agreement with Stock Exchanges is presented ina separate section forming part of the Annual Report.

Subsidiary Companies:

Your Company has 1 subsidiary at the end of the year which are as follows:

Ganpati Handtex Pvt. Ltd

In accordance with the general circular issued by the Ministry of Corporate AffairsGovernment of India the Balance Sheet Statement of Profit and Loss and other documentsof the subsidiary companies are not being attached to the Balance Sheet of the Company.The Company will make available the Annual Accounts of its subsidiary companies andrelated information to the member of the Company who may be interested in obtaining thesame. The annual accounts of its subsidiary companies will also be kept open forinspection at the Registered Office of the Company and that of the respective subsidiarycompanies. The Consolidated Financial Statements presented by the Company include thefinancial results of subsidiary companies including the step-down subsidiaries.

Accordingly Company has not attached the Balance Sheet and other documents required tobe attached under Section 212(1) of the Companies Act 1956 of its subsidiary companiesincluding the step-down subsidiaries namely

Particulars of Employees

In terms of the provisions of Section 217(2A) of the Companies Act 1956 read withCompanies (Particulars of Employees) Rules 1975 as amended the names and otherparticulars of employees are set out in the Annexure to the Directors' Report. Havingregard to the provisions of Section 219(1)(b)(iv) of the Companies Act 1956 the AnnualReport excluding the aforesaid information is being sent to all the members and othersentitled thereto.

Any member interested in obtaining such particulars may write to the Company Secretaryat the Registered Office of the Company.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars relating to conservation of energy technology absorption foreignexchange earnings and outgo as required to be disclosed under Section 217(1)(e) of theCompanies Act 1956 read with Companies (Disclosure of Particulars in the Report of Boardof Directors) Rules 1988 are provided as Annexure - I to this report.

Fixed Deposits

The Company has not accepted any deposits from the public during the year.

Directors

In terms of the provisions of the Companies Act 1956 and the Articles of Associationof the Company Mr Ankur Garg Mr Haki kat Singh and Mr. O.P.Verma Directors of theCompany retire by rotation at the ensuing Annual General Meeting and being eligibleoffer themselves for re-appointment.

The tenure of Smt. Madhu Mittal as Whole-Time Director had expired on 31 March 2014.In pursuance of the provisions of Section 196 and other applicable provisions of theCompanies Act 2013 the Remuneration Committee and the Board of Directors in theirrespective meetings held on 28 March 2014 have considered and approved the reappointmentof Smt. Madhu Mittal as Whole Time Director for a further period of three (3) years w. e.f. 1April 2014.

The tenure of Shri.VK.Gupta as Whole-Time Director is going to expire on 31 July 2014.In pursuance of the provisions of Sect ion 196 and other applicable provisions of theCompanies Act 2013 the Nomination and Remuneration Committee and the Board of Directorsin their respective meetings held on 28 March 2014 and 28 July 2014 have considered andapproved the reappointment of Shri VK.Gupta as Whole Time Director for a further period ofthree (3) years w. e. f. 1 August 2014.

A brief resume of these Directors the nature of expertise in specific functional areasand names of Companies in which they hold Directorship and/or Membership/Chairmanship ofCommittees of the Board as stipulated under Clause 49 of the Listing Agreement isannexed with the Notice calling 22nd Annual General Meeting of the Company.

Directors Responsibility Statement

Pursuant to the requirements under Section 217(2AA) of the Companies Act 1956 withrespect to Directors'Responsibility Statement it is hereby confirmed that:

(i) In the preparation of the annual accounts for the financial year ended March 312014 the applicable Accounting Standards have been followed along with proper explanationrelating to material departures;

(ii) The Directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company as at March 31 2014 and of the profit ofthe Company for the year under review;

(iii) The Directors had taken proper and sufficient care for the maintenance ofadequate accounting Records in accordance with the provisions of the Companies Act 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities; and

(iv) The Directors had prepared the annual accounts for the financial year ended onMarch 31 2014 on a'going concern' basis.

Auditors

STATUTORY AUDITORS

M/s. Satish Singla & Co. Chartered Accountants Statutory Auditors of the Companyretire at the ensuing Annual General Meeting of the Company and have expressed theirwillingness for reappointment as statutory auditors in accordance with the Companies Act2013 and confirmed that their re-appointment if made will be within the prescribedlimits under Section 141(3) of the Companies Act 2013 and they are not disqualified forsuch reappointment within the meaning of Section 141 of the said Act.

COST AUDITORS

M/s. H.Tara & Co Cost Accountants Delhi have been re-appointed as the Company'sCost Auditors for the financial year 2014-1 5 under Section 148of the Companies Act 2013.The members' approval to the Remuneration of Cost Auditors is sought.

CORPORATE GOVERNANCE

The Company has adopted the Corporate Governance Policies and Code of Conduct which hasset out the systems processes and policy conforming to the best standards. The report onCorporate Governance as stipulated under Clause 49 of the Listing Agreement with the StockExchanges forms part of the Annual Report. A Certificate from the Statutory Auditors ofthe Company M/s. Satish Singla & Co. Chartered Accountants confirming compliancewith the conditions of Corporate Governance as stipulated under the aforesaid Clause 49is attached to this Report.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to the provisions of Section 205A(5) of the Companies Act 1956 the dividendwhich remained unclaimed for a period of seven years has been transferred by the Companyto the Investor Education and Protection Fund.

INFORMATION UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITIONAND REDRESSAL) ACT 2013:

In compliance with the provisions of the Sexual Harassment of Women at Workplace(Prevention Prohibition and Redressal ) Act 2013 your Company has formed a Committee tolook into such cases as and when they arise. During the period under review no cases werefiled with the Committee.

Listing of the Company's Equity Shares

The equity shares of your Company are listed on the BSE Ltd. There is no default inpaying annual listing fees.

Acknowledgement

Your Directors are thankful to all the stakeholders and various government agencies andministries for their continued support

Place: Faridabad On behalf of the Board of Directors
Date:14.08.2014 For CENLUB INDUSTRIES LIMITED
Registered Office: V.K. Mittal
Plot No- 233-234 (Chairman & Managing Director)
Sector-58 Ballabgarh
Faridabad-121 004 Haryana DIN 00006398

Annexure to the Directors Report

Particular pursuant to Companies (Disclosure of particular in the report of the Boardof Directors) Rules 1988

Disclosure of particulars with respect to conservation of energy technology absorptionand foreign exchange earnings and outgo as required under Companies (Disclosure ofParticulars in the Report of Board of Directors) Rules 1988.

A. Research & development specific areas in which r&d callied out by thecompany.

1. Development of grease dispenser system for commercial vehicles i.e. vehicle chasislubrication .

2. Development of grease dispensing system for wind turbine.

3. Wheel flange lubrication system for railways.

B. Additional / new proposal to reduce energy consumption

Proposed to use solar cells for conservation of energy.

1. Energy conservation measuring already being taken care by optimum utilization ofvarious lubrication system testing simultaneously.

2. By improving introduction of oil cleaning system

3. By improving oil quality

4. Reducing solid waste and adopted eco -friendly waste disposal.

5. Implementing rain water harvesting.

C. Benefits derived by the company:

1. Company thus shall approach various state road transports for adopting vechileschassis lubrication.

2. Company shall approach railway agencies for wheel flange lubrication system fortesting/ approval.

3. Company is very keen for development of above mentioned lubrication system in bigway. If this system get approval of various agencies/depots company has to go for theirproduction.

D. Foreign Exchange Earnings and Outgo.

Details of Foreign Exchange Earnings and Outgo are given as below:-

(Rs. in lacs)

2014 2013
Foreign Exchange earning 40.82 27.15
Foreign Exchange outgoing 64.80 45.58

 

Place: Faridabad On behalf of the Board of Directors
Date:14.08.2014 For CENLUB INDUSTRIES LIMITED
Registered Office: V.K. Mittal
Plot No- 233-234 (Chairman & Managing Director)
Sector-58 Ballabgarh
Faridabad-121 004 Haryana DIN 00006398

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard