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Hemo Organic Ltd.

BSE: 524590 Sector: Industrials
NSE: N.A. ISIN Code: INE422G01015
BSE LIVE 15:40 | 18 Aug 15.05 -0.15
(-0.99%)
OPEN

14.50

HIGH

15.50

LOW

14.45

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 14.50
PREVIOUS CLOSE 15.20
VOLUME 1949
52-Week high 23.55
52-Week low 10.31
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 14.50
CLOSE 15.20
VOLUME 1949
52-Week high 23.55
52-Week low 10.31
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Hemo Organic Ltd. (HEMOORGANIC) - Director Report

Company director report

DIRECTORS

Dear Members

Your Directors have pleasure in presenting their 22nd Annual Report together with theAudited Statement of Accounts for the Financial Year ended on 31st March 2014.

(1) FINANCIAL AND WORKING RESULTS :

PARTICULARS 2013-2014 [Rs.] 2012-2013 [Rs.]
Profit/(Loss) Before Depreciation : 1297908 75655
Less : Depreciation 943566 943567
Profit/(Loss) Before Tax : 354342 (7666105)
Less : Provision for Tax 7793 (53869)
Profit/(Loss) After Tax 362135 (7612236)
Add : Balance brought forward (19577084) (11964847)
BALANCE CARRIED TO BALANCE SHEET (19214949) (19577084)

(2) PERFORMANCE

During the year under review company's total income was increased from 60.19 lacs toRs. 70.98 lacs. However the loss was increased from Rs. 1.86 lacs to Rs. 19.10 lacs. Yourdirectors expect better results in the next year.

(3) DIVIDENDS

In view of past loss during the year your Directors do not recommend any dividend theyear.

(4) DIRECTORS:

Mrs. Kinnari S. Patel director of the company retire by rotation and being eligibleoffer herself for re-appointment. Your director recommend her appointment.

Mr. Pankaj R. Patel and Mr. Kmshnakant R. Patel the existing Independent Directors ofthe Company are required to be appointed in as the Independent Directors in accordancewith the provisions of the Companies Act 2013. The said Directors have provided thedeclaration of compliance with provisions of the Companies Act 2013 relating to theirindependence.

(5) DEPOSITS :

During the year the Company has not accepted any deposit under section 58A of theCompanies Act 1956.

(6) PARTICULARS OF EMPLOYEES :

There was no employee drawing remuneration of Rs.2400000 or more per annum orRs.200000 per month for any part of the year and hence no particulars have beenfurnished as required under section 217(2A) of the Companies Act 1956.

(7) PARTICULARS RELATING TO CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGNEXCHANGE EARNINGS AND OUTGO: NIL

(8) DIRECTORS RESPONSIBILITY STATEMENT :

(i) Your directors have followed the applicable accounting standards along with properexplanation relating to material departure while preparing the annual accounts

(ii) Your directors 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 thefinancial year and of the profit of the company for that period;

(iii) Your directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe assets of the company and for preventing and detaching fraud and other irregularities;

(iv) Your directors have prepared the annual accounts on a going concern basis.

(9) CORPORATE GOVERNANCE REPORT AND MANAGEMENT DISCUSSION ANALYSIS REPORT :

A Report on Corporate Governance and compliance certificate there upon and also aManagement Discussion Analysis Report are annexed hereto this Report.

(10) AUDITORS:

M/s. Darji & Associates Chartered Accountants V. V. Nagar retire at the ensuingAnnual General Meeting and being eligible have offered themselves for re-appointment asthe Statutory Auditor in accordance with Section 139 of the Companies Act 2013. TheStatutory Auditors shall hold office for a tenure of three years from conclusion of theensuing Annual General Meeting; provided the said appointment shall be ratified every yearin each annual General Meeting.

The Notes to the Financial Statements referred to in the Auditors' Report areself-explanatory and do not call for any further comments.

(11) COMPLIANCE CERTIFICATE :

As required under Section 383A of the companies Act 1956 necessary ComplianceCertificate issued by D. G. Bhimani & Associates is attached herewith and form part ofdirectors' report.

(12) ACKNOWLEDGEMENTS :

Your Directors wish to thank the Banks Dealers Customers Suppliers and Shareholdersfor their continued support. Your directors also take this opportunity to record theirappreciation for the contributions made by all the employees to the operations of theCompany during the year.

Place: Anand FOR ANDON BEHALF OFTHEBOARD
Date: 28.05.2014 Dr. Dinesh Patel Sonal D. Patel
(CMD) Director