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Kanishk Steel Industries Ltd.

BSE: 513456 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE791E01018
BSE LIVE 10:16 | 24 Oct 6.59 0.29
(4.60%)
OPEN

6.59

HIGH

6.59

LOW

6.59

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.59
PREVIOUS CLOSE 6.30
VOLUME 500
52-Week high 12.84
52-Week low 4.51
P/E 50.69
Mkt Cap.(Rs cr) 19
Buy Price 6.61
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.59
CLOSE 6.30
VOLUME 500
52-Week high 12.84
52-Week low 4.51
P/E 50.69
Mkt Cap.(Rs cr) 19
Buy Price 6.61
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00

Kanishk Steel Industries Ltd. (KANISHKSTEEL) - Director Report

Company director report

Dear Members

Your directors have pleasure in presenting 26th Annual Report of the Company togetherwith the financial statements for the year ended March 31 2016.

Financial Summary:

The financial highlights for the year under review are as follows: (a mount in rs.)

Year Ended Year Ended
Particulars 31.03.2016 31.03.2015
Sales - Gross 3003267454 3304351022
Profit after Interest & Depreciation 61231683 14072340
Provision for Tax 10424739 11384343
Profit after Tax 47303603 2687997
Add: Taxation Adjustments of Previous Years - -
Add: Balance of Profit brought from previous year (2545303) 2687997
Profit available for Appropriation 47303603 2687997
Appropriations
Equity Dividend Proposed (Final) - -
Dividend Distribution Tax (Final) - -
Transfer to General Reserve - -
Balance Carried Forward 47303603 2687997

cOmPany'S PerFOrmance:

Your Company is engaged in the manufacture and supply of Iron & Steel products. Thefinancial year 2015 - 16 remained challenging for the company in achieving production andsales volume. The company's branded steel products which are most vibrant relevant andpreferred by most customers for quality at competitive prices and the right directionsfrom the company's management have helped the company to perform well even at thechallenging market conditions. During the year the turnover was Rs. 3003267454/- asagainst Rs. 3304351022/- for the previous year. The profit before tax of was Rs.61231683 /- as against Rs. 14072340/- for the previous year.

DiviDenD:

The Board of Directors has not recommended any dividend for the financial year.(Previous year: NIL).

CONSOLIDATED FINANCIAL RESULTS:

Your Company has prepared Consolidated Financial Statements in accordance withAccounting Standard 21 - "Consolidated Financial Statements" prescribed underSection 133 of the Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules2014. The Consolidated Financial Statement re_ect the financial position of the Companyand its Associate Company. As required by Regulation 34 of the SEBI (Listing Obligationsand Disclosure Requirements)

Regulations 2015 (hereinafter referred to as ‘SEBI(LODR) Regulations 2015') theAudited Consolidated Financial Statements together with the Independent Auditor's Reportthereon are annexed and form part of this Annual Report.

ASSOCIATE COMPANY:

Pursuant to the provisions of Section 129(3) of the Companies Act 2013 read with therules made thereunder a statement containing the salient features of the financialstatement of the Associate in the Form AOC-1 is provided in Annexure I and formpart of this Report. The statement provides the details of performance and financialposition of the Associate.

Your Company does not have any Material Subsidiary as de_ned under Regulation 16(1)(c)of SEBI(LODR) Regulations 2015 as on 31 March 2016.

In accordance with Section 136 of the Companies Act 2013 the audited financialstatements including the consolidated financial statements audited accounts of theAssociate and other documents attached thereto are available on our website:www.kanishksteels.in.

RESERVES:

Your Company has not transferred profit to the General Reserve for the financial yearending March 31 2016.