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Kings India Chemicals Corporation Ltd.

BSE: 524214 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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Kings India Chemicals Corporation Ltd. (KINGSINDCHEM) - Director Report

Company director report

To

The Members Kings India Chemicals Corporation Limited

Your Directors have great pleasure in presenting the 26th Annual Report on the workingof the Company for the year ended 31st March 2015 together with the. Audited Accounts. TheFinancial Results for the year are summarized below:

1. FINANCIAL RESULTS: - (Rs. In Lakhs)
Details 2014-15 2013-14
(i) Sales - -
(ii) Other Income 16.16 10.92
16.16 10.92
(iii) Total Expenditure 19.67 28.28
(iv) Loss Before Interest & Depreciation 3.51 17.36
(v) Interest - -
(vi) Loss Before Depreciation 3.51 17.36
(vii) Depreciation 17.20 38.41
(viii) Net Loss 20.71 55.77

2. THE PRODUCTION AND SALES PERFORMANCE: -

Product 2014-15 2013-14
(in Tons) (In Tons)
I . PRODUCTION
1. Acetic Acid - -
2. Acetic Anhydride - -
3. Ethyl Acetate - -
4. Acetaldehyde - -
II. SALES
1. Acetic Acid - -
2. Acetic Anhydride - -
3. Ethyl Acetate - -

3. DEPOSITS :-

The Company has not accepted any Fixed Deposits during this year from the public.

4. GOVERNMENT APPROVALS :-

All necessary Government approvals have been obtained.

5. SAFETY :-

The company has taken adequate safety measures for the plants and personnel.

6. DIRECTORS:-

As per section 255 of the Companies Act the sitting Director Mr.T.R.S. Karthik isretiring by rotation at this Annual General Meeting and being eligible offer himself forreappointment.

7. DIRECTORS' RESPONSIBILITY STATEMENT :-

In terms of provisions of Section 217 (2AA) of the Companies Act 1956 your directorsconfirm:

.i That in the preparation of the annual Financial Statements of accounts theapplicable accounting standards have been followed along with proper explanation relatingto material departures; ii. That the directors have selected such accounting policies andapplied them consistently and made judgments and estimates that are reasonable and prudentso as to give a true and fair view of the state of affairs of the Company for that period;iii. That the directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 1956for' safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities; iv. That the directors have prepared the Financial Statements on a"going concern" basis.

8. AUDITORS :-

M/s. DURAIRAJ & ASSOCIATES Chartered Accountants who were appointed as StatutoryAuditors of the company at the Twenty Fifth Annual General Meeting held on 30th September2014 retire at the conclusion of this Annual General Meeting and are eligible forreappointment.

9. ACKNOWLEDGEMENT:-

Your Company gratefully acknowledges the co-operation and support extended by thedepartments of the Central Government Government of Tamilnadu The Company appreciatesthe significant and valuable contributions made by the Share holders Staff the GeneralPublic and others.

For and on behalf of the Board of Directors.
For KINGS INDIA CHEMICALS CORPORATION LIMITED
Place Chennai-86. VIRENVINIAHUJA
Date 29.08.2015 Chairman

ANNEXURE TO DIRECTORS' REPORT

Information as per section 217(i) (e) read with the Companies (Disclosure ofparticulars in the Report of the Board of

Directors) rule 1988 and forming part of the Directors Report for the year ended 31stMarch 2015.

1. a) CONSERVATION OF ENERGY:

Utmost care is taken to conserve Energy.

b) POWER AND FUEL CONSUMPTION
2014-15 2013-14
Power-units 40130 50164
Diesel (Litres)
Husk(M.T)
Cost of Power per Unit (Average)

Since there is no production these detailed are not given

Diesel cost per unit of power
Cost per ton of steam
CONSUMPTION PER TON OF 2014-15
Acetic Acid -
Ethyl Acetate -
Lighting Power

110 Units per day

2. There are no Foreign Exchange earnings and outgo during the year.