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Epic Energy Ltd.

BSE: 530407 Sector: Engineering
NSE: N.A. ISIN Code: INE932F01015
BSE LIVE 14:56 | 31 Jul 9.29 0.44
(4.97%)
OPEN

9.29

HIGH

9.29

LOW

9.29

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.29
PREVIOUS CLOSE 8.85
VOLUME 998
52-Week high 14.76
52-Week low 6.20
P/E
Mkt Cap.(Rs cr) 7
Buy Price 8.50
Buy Qty 100.00
Sell Price 9.29
Sell Qty 2.00
OPEN 9.29
CLOSE 8.85
VOLUME 998
52-Week high 14.76
52-Week low 6.20
P/E
Mkt Cap.(Rs cr) 7
Buy Price 8.50
Buy Qty 100.00
Sell Price 9.29
Sell Qty 2.00

Epic Energy Ltd. (EPICENERGY) - Director Report

Company director report

Director's Report

The Members

Epic Energy Limited

Your Directors take pleasure in presenting to you the Audited Annual Accounts for theyear ended on 31st March 2014.

FINANCIAL PERFORMANCE

31st March 2014 31st March 201 3
Rupees Rupees
Gross Revenues 231628000 226758000
Gross Profit 48919000 52562819
Depreciation 13163000 15332000
Net Profit before Tax 3818517 4007609
Provision for Tax 1025000 801522
Net Profit/(Loss) after Tax 2793517 3206087
Proposed Dividend - -
Dividend Tax - -
Profit Carried Forward 2793517 3206087

DIVIDEND

Your Directors do not recommend any dividend for the year.

PERFORMANCE REVIEW

The company earned a Profit after Tax of Rs. 2793517 on a gross turnover of Rs.231628000. During the current year your company continued to lead the Energy EfficiencyMarket in the organized Sector. Your company added prestigious customers like State Bankof India Jamunabai Narsee School Konkan Railway Corporation amongst many others

Your company's Remote Energy Management System (REMS) wrapped around GSM and GPRSplatforms continued to receive excellent customer response. Your company wishes toacknowledge the Bureau of Energy Efficiency's continued efforts to promote energyefficiency in every walk of life which has led to ESCOs gathering sufficient traction inthe Indian Energy Market.

FUTURE OUTLOOK

The company continues to be a significant player in the Energy Efficiency and RenewableEnergy industry. The Company continues to have alliances with accredited Energy Auditorswhich has enabled it to consolidate its position in the Energy Efficiency businesssegment. Your company's Supply Side Management business continues to grow at a steadypace. Your Company's competency in the EPC segment of the Solar Power Generation businessis now well established and management expects sustained revenue to be generated from thesegment.

SUBSIDIARIES

As required by the Companies Act 1956 TheAuditedAccounts of the subsidiaries M/s.Hydragen Infrastructures Pvt. Ltd.& Green Energy Management Inc.USA. are appended totheseAccounts.

DIRECTORS

Mr. V. Chandrasekhar's terms as Executive Director expires at the forthcoming AGM. Hedoes not wish to seek reappointment. The Board places on record its appreciationfor hisservices.

AUDITORS

Members are requested to appointAuditors for the current year

PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGYABSORPTIONAND FOREIGN EXCHANGEEARNINGS AND EXPENDITURE

The Company inflows or outflows during the year. Since the company did not own &operate any significant manufacturing facility that consumes significant power during theyear under report the other particulars relating to conservation of energy and technologyabsorption stipulated in the Companies (Disclosure of Particulars in the Report of theBoard of Directors) Rules 1988 are not applicable.

DIRECTOR'S RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 217 (2AA)of the CompaniesAct 1956 yourDirectors state that:

1. In the preparation of the accounts the applicable accounting standards have beenfollowed.

2. Accounting policies selected were applied consistently. Reasonable and prudentjudgments and estimates were made so as to give and true and fair view of the state ofaffairs of the company as on 31st March 2014and for the profit of the company for theyear ended on that date.

3. Proper and sufficient care has been taken for the maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act 1956 for safeguarding theassets of the company and for preventing and detectingfrauds andother irregularities.

4. The annual accounts ofthe company have been provided on a going concern basis.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In accordance withthe listing agreement the Management Discussion andAnalysis Reportforms a part ofthis report.

ACKNOWLEDGEMENTS

Your Directors wish to thank all its employees bankers and customers who have played akey role in helping the company progress on its chosen path. And last but not the leastthe Directors wish to thank all the members who have been a constant source ofencouragement & support.

FOR EPICENERGY LIMITED

NIKHILMORSAWALA

CHAIRMAN

Place: Mumbai

Date: 30th May 2014