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Gogia Capital Services Ltd.

BSE: 531600 Sector: Financials
NSE: N.A. ISIN Code: INE832C01014
BSE 05:30 | 01 Jan Gogia Capital Services Ltd
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Gogia Capital Services Ltd. (GOGIACAPITAL) - Director Report

Company director report

DIRECTORS

Your Directors have pleasure in presenting the 16th Annual Report on the business andoperations of the Company for the year ended March 31 2010.

Financial Highlights

31/03/2010 (INR) 31/03/2009 (INR)
Gross Income 36064764 27404503
Profit before depreciation and tax 11781423 5467047
Deprecation 1768553 1337307
Profit before tax 10012870 4129740
Current Income Tax 2309420 500000
Fringe Benefit Tax Nil 76735
Deferred Tax 784557 1040940
MAT Credit Adjustment Nil 425363
Profit after tax 6918893 2937428
Profit carried forward to the Balance Sheet 58238438 51364.545
Earning per share on Equity Shares of Rs.10 each 2.45 0.93

Dividend:

The Board of Directors have not recommend any dividend during the year under review.

Directors:

Mr. Ashwani Gogia retires by rotation at the ensuing Annual General Meeting of theCompany and being eligible offer himself for re-appointment.

Depository System:

As the members are aware your Company's shares are tradable compulsorily in electronicform and your Company has established connectivity with both the Depositories i.e.National Securities Depository Limited and Central Depository Services India Limited. Inview of the numerous advantages offered by the Depository System members are requested toavail of the facility of dematerialization of the Company's shares on either of theDepositories aforesaid.

Insurance:

The properties of the Company are adequately insured.

Fixed Deposits:

Your Company has not accepted any fixed deposits from the public. As such no amount ofprinciple or interest is outstanding as of the balance sheet date.

Human Resource Management:

Harmonious employee relations continued to prevail in the Company. The Companycontinued its focus on training and development of people through internal and externalmanagement development programmes.

Particulars of Employees:

Particulars of employees as required under Section 217(2A) of the Companies Act 1956and rules framed there under are not applicable.

Responsibility Statement:

As required under Section 217(2AA) of the Companies Act 1956 your Directors confirmhaving:

a) Followed in preparation of the Annual Accounts the applicable standards with properexplanation relating to material departures where applicable;

b) Selected such accounting policies and applied them consistently and made judgmentsand estimates that are reasonable and prudent so as to give a true and fair view of thestate of affairs of-your Company at the end of the financial year and of the profit ofyour Company for that period;

c) Taken proper and sufficient care for the maintenance of adequate accounting recordsin accordance with the provisions of the Companies Act. 1956 for safeguarding the assetsof your Company and for preventing and detecting fraud and other irregularities; and

d) Prepared the Annual Accounts on a going concern basis.

Conservation of energy technology absorption foreign exchange earnings and outgo:

The Company has nothing to report in respect of information on conservation of energyand technology absorption as required under section 217(1) of the Companies Act 1956 readwith Companies (Disclosures of Particulars in the Report of Board of Directors) Rules1988 since the Company is not engaged in manufacturing or processing business. The detailsregarding foreign exchange earnings and outgo are given as Annexure III to this report.

Foreign Exchange Earning and Outgo:

Current Year Previous Year
Earning NIL (NIL)
Expenditure NIL (NIL)

Corporate Governance:

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges. A detailedReport on Corporate Governance forms an integral part of this Report. A certificate ofStatutory Auditor confirming compliance of the Corporate Governance requirements by theCompany is attached to the Report on Corporate Governance.

Management Discussion and Analysis Report:

A detailed review of operations performance and future outlook of the Company is givenseparately under the head Management Discussion and Analysis Report.

Auditors:

M/s. Sunil Kulshreshta & Associates Chartered Accountants Statutory Auditors ofthe Company retire and offer themselves for re-appointment as the Statutory Auditors ofthe Company pursuant to Section 224 of the Companies Act 1956.

Acknowledgements:

Relationship with Stock Exchange and our bankers Securities and Exchange Board ofIndia & other Regulatory authorities State Government and Central Government remainedexcellent during the year under review. Your Directors are grateful for the supportextended by them and look forward to receiving their continued support and encouragement.

Your Directors take this opportunity to thank all employees for their dedicatedservice and contribution made towards the growth of the Company and also for renderingimpeccable service to every one of the Company's customers.

And to you our shareholders we are deeply grateful for the confidence and faith thatyou have always placed in us.

For and behalf of the Board of Directors
Place: New Delhi SATISH GOGIA
Date: 15/06/2010 Chairman & Managing Director