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Kerala Rubber & Reclaims Ltd.

BSE: 509180 Sector: Others
NSE: N.A. ISIN Code: N.A.
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Kerala Rubber & Reclaims Ltd. (KERALARUBBER) - Director Report

Company director report

KERALA RUBBER AND RECLAIMS LIMITED ANNUAL REPORT 2010-2011 DIRECTOR'S REPORT Gentlemen, Your Directors present their 47th Annual Report and audited Accounts for the year ended 31.03.2011. 1. Financial Results The gross income of the company for the year was Rs.863.27 lakhs as against Rs.591.41 lakhs for the year ended 31-03-2010. Rs. In lakhs After providing for 2010-2011 2009-2010 a) Interest 6.09 4.59 b) Depreciation 5.71 7.59 2. Working Results of the Company The company produced 3237.90 MT of Reclaimed Rubber during the year as against 2819.6 MT during the previous year. 3. The audited accounts for the year ended 31-03-2011 could not be placed at the Annual General Meeting held on 30.09.2011 due to some procedural reasons. M/s, R.G.N. Price and Company, Chartered Accountants, Cochin-682 036 were appointed as Auditors for the year ended 31-03-2012 in the Annual General Meeting held on 30-09-2011. The audit is completed and the accounts are placed now before you for adoption. 4. Management Mrs.Shakiela George retired by rotation and she was re-elected as Director in the Annual General Meeting held on 30.09.2011. 5. Employees The company has maintained generally a cordial relationship with the employees during the year. The company had no employee in respect of whom information under section 217(2A) of the Companies Act, 1956, as amended, is required to be annexed. 6. Directors Responsibility Statement Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 with respect to Directors Responsibility statement, it is hereby Confirmed: (i) That in the preparation of the accounts for the financial year ended 31st March, 2011 the applicable accounting standards have been followed along with proper explanation relat-ing to material departures: (ii) That the Directors have selected, such accounting polices and applied them consistently and made judgements had estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the year under review: (iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. (iv) That the Directors have prepared the accounts for the financial year ended 31st March, 2011 on a going concern basis: 7. Compliance Certificate Compliance Certificate obtained from the practicing Company Secretary is enclosed. 8. Acknowledgement The Directors of the Company would like to acknowledge with gratitude, the support, assistance and co-operation from the financial institutions and the Company's bankers. For and on behalf of the Board of Directors Sd/- Mrs. Sabina Abraham Mrs. Shakiela George (Managing Director) (Jt. M.D.) Cochin 07/10/2011 Information as per Section 217(i) (e) read with Companies (Disclosure of Particulars in the Report of the Board Directors) Rules, 1988 and forming part of the Directors Report for the year ended 31st March, 2011. TECHNOLOGY AS ABSORPTION 2010-2011 Efforts made in technology absorption as per Form B of Annexure FORM-B FORM FOR DISCOLSURE OF PARTICULARS WITH RESPECT TO ABSORPTION Research and Development (R and D) 1. Specific areas in which R and D Carried out by the Company : Nil 2. Benefits derived as a result of the above R and D : Nil 3. Future plan of action : Nil 4. Expenditure of R and D : Nil Technology, absorption. adaptation and innovation 1. Efforts in brief, made towards technology, absorption adaptation and innovation : Nil 2. Benefits derived as a result of the above efforts, e.g. product improvement cost reduction, product development. import substitution etc. : Nil 3. In case of imported technology (Imported during last 5 years reckoned from the beginning of the financial year) following information may be furnished. a) Technology imported : Nil b) Year of import : Not applicable c) If not fully absorbed, areas where this has not taken place, reasons therefore and future plan of action : Not applicable FORM - C FOREIGN EXCHANGE EARNINGS AND OUTGO 2010-2011 d) Activities relating to the exports Contacted initiatives taken to increase exports, Foreign development of new export markets for Buyers products and services, and export plans e) Total Foreign exchange used and earned Foreign Exchange used (including Cost of Raw materials, spare parts and packing materials) : Rs. 94311/- Total Foreign Exchange Earned : Rs.11,24.152/- For and on behalf of the Board of Directors Sd/- Mrs. Sabina Abraham Mrs. Shakiela George (Managing Director) (Jt. M.D.) Cochin 07/10/2011