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JTL Infra Ltd.

BSE: 534600 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE391J01016
BSE LIVE 15:40 | 18 Aug 66.10 -0.90
(-1.34%)
OPEN

67.00

HIGH

67.90

LOW

61.50

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 67.00
PREVIOUS CLOSE 67.00
VOLUME 7846
52-Week high 77.00
52-Week low 41.25
P/E 16.04
Mkt Cap.(Rs cr) 66
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 67.00
CLOSE 67.00
VOLUME 7846
52-Week high 77.00
52-Week low 41.25
P/E 16.04
Mkt Cap.(Rs cr) 66
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

JTL Infra Ltd. (JTLINFRA) - Director Report

Company director report

Directors Report

Dear Stakeholders

Yours directors have pleasure in presenting their 23rd (Twenty Third) AnnualReport together with the Audited Statement of Accounts for the year ended 31stMarch 2014.

FINANCIAL HIGHLIGHTS

(RS. In lacs)
PARTICULARS 31.03.2014 31.03.2013
Gross Turnover 10750.89 9626.16
Less Excise Duty 1025.72 966.14
Net Sales 9725.17 8660.02
Misc. Income (4.02) 80.87
PBIT 290.51 251.39
Profit Before Tax 81.42 91.31
Profit After Tax 53.63 59.58
Profit brought forward from previous year/s 458.11 398.53
Profit available for appropriation 511.74 458.11
Appropriation to:
Balance carried to Balance Sheet 511.74 458.11

REVIEW OF OPERATIONS AND BUSINESS PERFORMANCE

During the year under review The Company achieved a net turnover of Rs. 9725.17 lacsas against Rs. 8660.02 lacs of previous year recording a growth of 12.30%. Expenditureside of the company has also been increased from Rs. 8646.29 lacs to 9639.73 lacs duringthe current year. Resultantly due to proportionate increase in expenses the company netsurplus comes down to Rs. 81.42 lacs as compared to Rs.91.31 lacs of previous year.Despite the challenges prevailing in the Indian tube industry the sector is poised togrow by having continuous focus on quality value addition and further the cost managementhas helped your company to achieve this profitable growth. Your Directors are committed toexplore all avenues to increase operations and profitability of the Company.

EXPORT PERFORMANCE

Exports turnover has been increased to Rs. 5568.89 lacs for the year ended 31st March2014 as compared to Rs. 3991.14 lacs of previous year

DIVIDEND

Due to expansion programme the management decided to conserve the surplus fundsaccrued to the Company during the financial year 2013–14. These funds will beutilized towards part-funding the proposed expansions projects. Hence Board of Directorsdecided not to recommend the dividend to the shareholders

DIRECTORS

There has been no change in the constitution of Board of Directors of the Companyduring the year. However as per the provisions of Section 256 of the Companies Act 1956and the Articles & Association of the Company Mr. Madan Mohan Singla ManagingDirector and Mr. Vijay Singla Director of the company are due to retire by rotation atthe forthcoming Annual General Meeting and being eligible offered themselves for theirreappointment.

Brief details of the Directors being appointed/re-appointed have been incorporated inthe Notice convening the Annual General Meeting.

NATURE OF BUSINESS

The main activity of the Company is to manufacture and sale of ERW Black and Galvanizedsteel pipes development of Infrastructural activities and all other activities revolvearound that and henceforth no product segment was made as per Accounting Standard 17.

CORPORATE GOVERNANCE

As per schedule of implementation of Corporate Governance Code mentioned in the clause49 of listing Agreement the company has implemented the mandatory requirements of theCode. Company is committed to maintain the highest standards of Corporate Governance.

Compliance Report on Corporate Governance and a certificate from Auditors of theCompany regarding compliance of the conditions of Corporate Governance as stipulated underClause 49 of the Listing Agreement with the Stock Exchanges is attached herewith and formspart of this report.

DEPOSITS

The company has not accepted any deposits from public during the year under review.

AUDITORS & THEIR OBSERVATIONS

M/s. S. Kumar Gupta & Associates Chartered Accountant Statutory Auditors of theCompany holds office until the conclusion of the ensuing Annual General Meeting and areeligible for re-appointment. The Company has received a letter from M/s. S. Kumar Gupta& Associates. to the effect that their re-appointment as Auditors if made would bewithin the limits under Section 141(3)(g) of the Companies Act 2013.

COST AUDIT

As per the requirements of Central Government and pursuant to the provisions of Section148 of the Companies Act 2013 your Company carries out an audit of cost records everyyear. The Company has M/s Balwinder & Associates Cost Accountants as Cost Auditor ofthe Company for the financial year 2013-14

The cost audit report for financial year end 31st March 2014 will be filed withCentral Government in due course.

LISTING

The Shares of the company are listed at "Bombay Stock Exchange (BSE)" Mumbai.The listing fees to the stock exchanges has regularly been paid by the Company.

INSURANCE

The properties/assets of your Company are adequately insured.

DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to sub section (2AA) of Section 217 of the Companies Act your directorsconfirm that:

(i) In the preparation of Balance Sheet and the Profit & Loss Account of theCompany the applicable accounting standards have been followed and there are no materialdepartures.

(ii) The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year and ofthe Profit or Loss of the company for that year.

(iii) The Directors have taken proper and sufficient care to the best of theirknowledge and ability for the maintenance of adequate accounting records in accordancewith the provisions of Companies Act 1956 for safeguarding the assets of the Company andpreventing and detecting fraud and other irregularities.

(iv) The annual accounts have been prepared on a going concern basis.

PARTICULARS OF THE EMPLOYEES

During the year no employee whether employed for the whole or part of the year wasdrawing remuneration exceeding the limits mentioned under Section 217 (2A) of theCompanies Act 1956. Hence the information required under this Section read with theCompanies (Particulars of Employees) Rules 1975 is not given.

CONVERSION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Particulars prescribed under the Disclosure of particulars in the Report of the Boardof Directors Rule 1988 are furnished in the Annexure to this Report.

INDUSTRIAL RELATIONS

The Company maintained healthy cordial and harmonious industrial relations at alllevels. The enthusiasm and unstinting efforts of employees have enabled the company toimprove its position.

CASH FLOW STATEMENT

As required under clause 32 of the Listing Agreement a cash flow statement isappended.

ENVIRONMENT HEALTH AND SAFETY MEASURES

Adequate safety and environmental precautions have been implemented wherever deemednecessary.

Your company is having status of ISO 9001:2008 certification which is internationallyrecognized for the production quality control etc. This certification gives the companyinternational recognition and helps in boosting the export turnover.

MANAGEMENT DISCUSSION AND ANAYSIS

A Management discussion and Analysis as required under clause 49 of the ListingAgreement is annexed and form part of this Directors’ Report.

ACKNOWLEDGEMENT

Yours Directors take this opportunity to thank the Company’s customers vendorsbankers employees shareholders and other business constituents for all time cooperationand support to the Company.

FOR & ON BEHALF OF THE BOARD OF DIRECTORS

-sd- -sd-
(MADAN MOHAN SINGLA) (VIJAY SINGLA)
MANAGING DIRECTOR WHOLE TIME DIRECTOR
PLACE: CHANDIGARH
DATE : 30/05/2014

ANNEXURE – I

FORM-A

DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY

A. POWER AND FUEL CONSUMPTION

Current Year Previous Year
1. ELECTRICITY
(a) Purchased
Units 22.54 20.44
(No. in Lacs)
Total Amount 166.18 134.26
(R In lacs)
Rate/Unit 7.37 6.57
(R)
(b) Own generation
(i) Through Diesel
Generator
Units .936 NIL
(No. in Lacs)
Total Amount 13.11 NIL
(R In lacs)
Rate/Unit 14.00 NIL
(R)
(ii) Through steam
turbine/generator
Units NIL NIL
(No. in Lacs)
Total Amount NIL NIL
(R In lacs)
Rate/Unit N.A. N.A.
(R)
2. COAL NIL NIL

 

3. FURNANCE OIL/L.D.O.
Quantity Purchased (MT) 484.410 479.73
Total Cost(R In lacs) 243.44 228.35
4. OTHERS NIL NIL

B. Consumption per MT. of Production:

Electricity (No.) 115.70 110.036
Furnace Oil (Lt.) NIL NIL
Coal NIL NIL
Others NIL NIL

FORM-B

DISCLOSURE OF PARTICULARS WITH RESPECT TO R&D AND ABSORPTION OF TECHNOLOGY

A. RESEARCH AND DEVELOPMENT(R&D):

The Company has not carried out any research & development activities during theyear.

B. TECHNOLOGY ABSORPTION: NIL

FOREIGN EXCHANGE EARNING & OUTGO

(i) Activities relating to exports initiatives taken to increase exports developmentof new export markets for products for and services and export plans.

The company is regularly making efforts for increasing its markets. It is continuouslywidening its markets in several Asian African and European countries.

(ii) Total foreign exchange used and earned:

2013-14 2012-13
(FIGURES In lacs)
Total Foreign Exchange Earned USD 41.29 47.64
EURO 10.39 11.48
GBP 19.08 2.57
Total Foreign Exchange Used USD 1988.39 Nil
EURO 6080.60