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Greenearth Resources & Projects Ltd.

BSE: 533016 Sector: Metals & Mining
NSE: AUSTRAL ISIN Code: INE455J01027
BSE LIVE 15:25 | 27 Aug Stock Is Not Traded.
NSE 14:02 | 04 Sep Stock Is Not Traded.
OPEN 0.49
PREVIOUS CLOSE 0.51
VOLUME 9766
52-Week high 0.49
52-Week low 0.00
P/E 1.14
Mkt Cap.(Rs cr) 15
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.49
Sell Qty 48230.00
OPEN 0.49
CLOSE 0.51
VOLUME 9766
52-Week high 0.49
52-Week low 0.00
P/E 1.14
Mkt Cap.(Rs cr) 15
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.49
Sell Qty 48230.00

Greenearth Resources & Projects Ltd. (AUSTRAL) - Director Report

Company director report

To

The Members

Greenearth Resources & Projects Limited

Kolkata

Your Directors have pleasure in presenting their Report and Audited Accounts of theCompany for the year ended March 31 2016.

1. Financial Results:

Turnover:

Current Period (In Rs.) Previous Year (In Rs.)
3236760 86736217

During the financial year 2015-16 the turnover of the company is lesser as compare tothe previous year. The financials for the financial year 2015-16 is as follows:

(Amt. in Rs.)

PARTICULARS
Current Period Previous Period
31.03.2016 31.03.2015
I. Revenue From Operations 3236760 86736217
II. Cost of Sales 10862090 98494141
III. Gross profit (I-II) (7625330) (11757923)
IV. Operating expenses:
(1) Selling and marketing expenses 183734 2771006
(2) Administrative expenses 7008200 14024681
(3) Depreciation and amortization of assets 174747854 326889822
(4) Foreign currency exchange gains(losses) net - -
Total Operating Expenses 181939787 343685509
V. (1) Results from operating activities (III - IV) (189565117) (355443432)
(2) Gains / (Loss) on sale of long-term investments 107945
(3) Other Income 871208 1647898
(4) Other expenses: -
(i) finance costs 7071 11137
(ii) Others - -
(5) Long Term Investment Written off - 722615680
VI. Income before income tax (188700980) (353806671)
(1) Current Income Tax - -
(2) Deferred Tax Liability / (Asset) - -
VII. Net Profit After Tax (188700980) (353806671)
(3) Others - -
VIII. Profit for the period (VI-VII) (188700980) (353806671)

2. Dividend:

Considering the losses from last few years the directors of company has not recommendedany dividend for the current Period.

3. Term Deposits:

During the Period under review your Company has not accepted any deposit under Section76 of the Companies Act 2013 read with Companies (Acceptance of Deposits) Rules 1975.

4. Information under Section 196-202 of Companies Act 2013 and Rule 3-10 of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014

None of the employees was in receipt of remuneration exceeding the limit specifiedunder section 196-202 of Companies Act 2013.

5. Directors

Pursuant to Section 196 of the Companies Act 2013 (the 'Act') and applicable rulesMrs. Shailbala Mandloi who was appointed as Non-Executive Director of the Company on 31stMarch 2015 is been appointed as Executive Director w.e.f. 23rd May 2016

Mr. Bikash Kumar Pralhadkumar Tiwari has been appointed as Managing Director of theCompany pursuant to section 194 of the Companies Act 2013 with effect from 10th November2015 to hold office for a term of five consecutive years on the terms and conditionsagreed by the Board.

Mr. Loknath Mishra and Mr. Kamalkishore Rathi have been appointed as a Non ExecutiveIndependent director of the company Pursuant to Sections 149 150 and 152 of the Actread with Companies (Appointment and qualification of Directors) Rules 2014 along withNOTE IV of the Act (including any statutory modification(s) or re-enactment thereof forthe time being in force) the Independent Directors can hold office for a term of fiveconsecutive years on the Board of Directors of your Company.

Mr. M.M. Damani and Mr. Sunil Jawaharlal Mandloi Directors of the Company has beenresigned from the Directorship of the company with effect from 9th February 2016.

6. Director's Responsibility Statement:

Pursuant to in terms of clause (c) of sub-section 3 of section 134 of the CompaniesAct 2013 the Directors based on the representations received from the Managementconfirm:

That in the preparation of the annual accounts the applicable accounting standardshave been followed. That we have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the company at the end of March 2016and the profit / Loss of the Company for that period.

That we have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities

That we have prepared the annual accounts on a going concern basis.

7. Auditors

The Board has proposed the appointment of M/s K.M. Tapuriah & Co CharteredAccountants (Firm Registration No. 314043E) as a Statutory Auditor of the Company untilthe conclusion of Next Annual General Meeting of the company at a remuneration as theBoard of Directors may determine. "subject to the approval of the shareholders in theAnnual General Meeting of the company;

8. Conservation of Energy Research and Development Technology Absorption andForeign Exchange Earning & Outgo

The information required under the Companies Act 2013 with respect to conservation ofenergy technology absorption and foreign exchange earnings/outgo is appended hereto asAnnexure : "A" and it forms part of this Report.

9. Employee Relations

The employee relations in the Company continued to be positive. Information as perSection 134 of the Companies Act 2013 (the 'Act') read with the Companies (Particulars ofEmployees) Rules 1975 forms part of this Report. As per the provisions of Section 136 ofthe Act the Report and Accounts are being sent to the shareholders of the Companyexcluding the statement on particulars of employees under Section 134 of the Act. Anyshareholder interested in obtaining a copy of the said statement may write to theSecretarial Department at the Registered Office of the Company.

10. Trade Relations

Your Directors wish to record appreciation of the continued unstinted support andco-operation from its Customers suppliers of goods/services clearing and forwardingagents and all others associated with it. Your Company will continue to build and maintainstrong association with its business partners.

Your Company also has a Policy on Prevention of Sexual Harassment which is reviewed bythe Internal Complaints Committee at regular intervals. Your Company recognizes itsresponsibility and continues to provide a safe working environment for women free fromsexual harassment and discrimination and to boost their confidence morale andperformance.

11. Corporate Governance Report Management Discussion & Analysis Report andBusiness Responsibility Report

As per clause 49 of the Listing Agreements entered into with the Stock ExchangesCorporate Governance Report with auditors' certificate thereon and Management Discussionand Analysis are attached and form part of this report.

As per clause 55 of the Listing Agreements entered into with the Stock Exchanges aBusiness Responsibility Report is attached and forms part of the annual report.

13. Acknowledgements

The Directors thank the Company's customers vendors investors business associatesbankers for their support to the company. The Directors appreciate and value thecontributions made by every member of the "Greenearth" family across thecountry.

For and On Behalf of the Board of Directors
SD/-
Bikash Kumar Tiwari
Managing Director
Place: Kolkata
Date: August 13 2016

ANNEXURE TO DIRECTORS REPORT

INFORMATION REQUIRED UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OFTHE BOARD OF DIRECTORS) RULES 1988

Particulars with respect to Conservation of Energy Technology Absorption as persection 134 of the Companies Act 1956 read with Company's (Disclosure of particulars inthe Board of Directors) Rule 1988 for the period ended 31st March2016 are annexed tothis report.

CONSERVATION OF ENERGY RESEARCH & DEVELOPMENT TECHNOLOGY ABSORPTION & FOREIGNEXCHANGE EARNINGS AND OUTGO

(A) CONSERVATION OF ENERGY

The operations of the company are not energy intensive. However wherever possible thecompany strives to curtail the consumption of energy on continued basis. Further companyhas absorbed latest technology which is helpful in conserving energy.

(B) TECHNOLOGY ABSORPTION ADAPTATION AND INNOVATION

The Company over the Periods through its experience has developed modified and adoptedunique technique of stamping of LAM Coke which increases the efficiency of Coke.

FOREIGN EXCHANGE EARNINGS AND OUTGO

Foreign exchange earnings and outgo during the Period 2014-2015 are as under.

Particulars Current Period Previous Period
Foreign Exchange 31.03.16 31.03.15
Earnings Foreign Nil Nil
Exchange Outgo Nil Nil

 

By Order of the Board of Directors
Sd/-
Place: Kolkata Bikash Kumar Tiwari
Date: August 13 2016 Managing Director