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Chpl Industries Ltd.

BSE: 539335 Sector: Others
NSE: N.A. ISIN Code: INE714Q01014
BSE LIVE 11:30 | 07 Oct Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 18.50
PREVIOUS CLOSE 19.00
VOLUME 400
52-Week high 19.00
52-Week low 12.50
P/E
Mkt Cap.(Rs cr) 5.64
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 18.50
CLOSE 19.00
VOLUME 400
52-Week high 19.00
52-Week low 12.50
P/E
Mkt Cap.(Rs cr) 5.64
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Chpl Industries Ltd. (CHPLINDUSTRIES) - Director Report

Company director report

To

The Members

Your Directors hereby present 25th Annual Report of the Company along with the auditedstatement of Accounts for the year ended 31st March 2014.

FINANCIAL PERFORMANCE (Rs.)
Year ended 31.03.2014 Year ended 31.03.2013
Profit before depreciation 910953/- -
Depreciation -
Profit before tax 910953/- -
Provision for tax - -
Profit after tax 910953/- -

OPERATIONS:

The Company has ventured into textile business and started trading activities on trialbasis with some reputed companies with proven track record. Further the Company had alsotaken some contractual assignments and initial response has been good. The Company hasturned around during the year and also reported profitability to the extent of Rs 9.11Lakhs. The Company aims to venture into new territories and continue to take newinitiatives for improving its financial performance.

DIVIDEND:

Considering the present financial status of the Company the Board of Directors regretstheir inability to recommend payment of any dividend for the year under review.

FOREFEITURE & PREFERENTIALALLOTMENTOFSHARES:

In compliance with the applicable provision of the Corporate Laws and the ListingAgreement the Company had forfeited 23300 equity shares towards calls unpaid from theshareholders. Subsequently the Company had also issued 493300 equity shares underpreferential allotment mechanism to select equity shareholders and received full paymenttowards the same during the year under review. This equity infusion was used to ventureinto new business line for the growth of the Company.

PUBLIC DEPOSITS

The company has not accepted any deposits from the public during the year and there areno outstanding dues.

MANAGEMENTDISCUSSIONANDANALYSIS REPORT

In terms of Clause 49 of the Listing Agreement with the Stock Exchanges the ManagementDiscussion & Analysis Report is appended to this Report.

CORPORATE GOVERNANCE

A separate report on Corporate Governance as stipulated under Clause 49 of the ListingAgreement forms part of this report.

DIRECTORATE

During the year under review Mr. AVKS Prasad and Mr. B N Sistla resigned from thedirectorship of the Company w.e.f 31st March 2014. The Board appreciates and places onrecord the valuable contribution guidance and advice received from them.

During the year under review Mr. Viral Chavda was appointed as Additional Directorw.e.f 20th January 2014 to hold such office till the conclusion of the ensuing AnnualGeneral Meeting. The Company has received notice under section 160 of the Companies Act2013 for his appointment as Director in the forthcoming Annual General Meeting. The Boardrecommends his appointment will be beneficial to the Company. Mr. Viral Chavda has alsobeen appointed as an "Executive Director" of the Company and his appointment issubject to approval in the ensuing Annual General Meeting.

Further CAShital Mutha and Mr Dinesh Bainwal were also appointed as AdditionalDirector w.e.f 31st March 2014 to hold such office till the conclusion of the ensuingAnnual General Meeting. The Company has received notices under section 160 of theCompanies Act 2013 for their appointment as Director in the forthcoming Annual GeneralMeeting. The Board recommends his appointment will be beneficial to the Company. CA ShitalMutha and Mr Dinesh Bainwal are appointed as Independent Directors of the Company andtheir appointment is subject to approval in the ensuing Annual General Meeting.

Mr. S. K. Pathki retires by rotation and being eligible offers himself forre-appointment. Your Directors recommend re-appointment of Mr. S. K. Pathki.

DIRECTORS' RESPONSIBILITYSTATEMENT

Pursuant to the requirement of Section 134 of the Companies Act 2013 with respect tothe Directors' Responsibility statement your Directors wish to confirm that:

1. In the preparation of the Annual Accounts the applicable accounting standards havebeen followed along with proper explanations relating to material departures if any

2. Such Accounting policies have been selected and applied consistently and judgmentsand estimates are made that are reasonable and prudent so as to give a true and fair viewof the state of affairs of the Company at the end of the financial year and of the Profitand Loss of the Company for that period.

3. Proper and sufficient care for the maintenance of adequate accounting records inaccordance with the provisions of the Companies Act 1956 for safeguarding the assets ofthe Company and for preventing and detecting any fraud or other irregularities has beentaken.

Accounts for the financial year ended on 31st March 2014 are prepared on agoing-concern basis.

AUDITORS

M/s. B.K. Hegde & Co. Chartered Accountants retire as the Statutory Auditors of theCompany at the conclusion of this Annual General Meeting and have expressed theirunwillingness to continue as the Auditors of the Company. Hence your directors proposeappointment of M/s Ramanand & Associates Chartered Accountants Thane as theStatutory Auditors of the Company. They have confirmed their willingness and eligibilityunder section 139 (1) of the Companies Act 2013.

AUDITOR's QUALIFICATIONS

There are no qualifications in the Auditors' Report and the observations andsuggestions made by the Auditors in their report are self-explanatory.

PARTICULARS OFEMPLOYEES

The Company has not paid any remuneration attracting the provisions of Companies(Particulars of Employees) Rules 1975 read with Section 134 of the Companies Act 2013.Hence no information is required to be appended to this report in this regard.

LISTING OFEQUITYSHARES ON STOCK EXCHANGES

The Company's shares are listed on the Ahmedabad Stock Exchange Ahmedabad.

CONSERVATION OFENERGYTECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:

There is no activity relating to conservation of energy and technology absorption.There has been no foreign exchange income or outflow during the year under review.

ACKNOWLEDGEMENTS

Your Directors wish to place on record their appreciation and grateful thanks to theBankers Customers Employees and Creditors for their continued support during the yearunder review.

Your Directors once again express their gratitude to the Members who stood with theCompany.

For and on behalf of the Board
For CHPL INDUSTRIES LIMITED
Place: Secunderabad
Date: 26th April 2014 Sd/-
(S. K. Pathki)
DIRECTOR

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