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Kiran Print Pack Ltd.

BSE: 531413 Sector: Services
NSE: N.A. ISIN Code: INE516D01011
BSE LIVE 15:14 | 05 Sep 3.42 0.16
(4.91%)
OPEN

3.42

HIGH

3.42

LOW

3.42

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.42
PREVIOUS CLOSE 3.26
VOLUME 1000
52-Week high 4.10
52-Week low 3.11
P/E 9.77
Mkt Cap.(Rs cr) 2
Buy Price 3.25
Buy Qty 500.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.42
CLOSE 3.26
VOLUME 1000
52-Week high 4.10
52-Week low 3.11
P/E 9.77
Mkt Cap.(Rs cr) 2
Buy Price 3.25
Buy Qty 500.00
Sell Price 0.00
Sell Qty 0.00

Kiran Print Pack Ltd. (KIRANPRINTPACK) - Director Report

Company director report

DIRECTORS

To

The Members

Kiran Print Pack Limited

Your Directors have pleasure in presenting the 25th Annual Report of your companytogether with the Audited Accounts for the year ended 31st March 2014.

FINANCIAL HIGHLIGHTS

Your company's performance during the year as compared with the previous year issummarized as below:

(Rs. in Lacs)
For the year ended 31st March 2014 For the year ended 31st March 2013
Revenue from operations 21.19 37.99
Other income 3.09 3.00
Profit /(Loss)before exceptional items and tax (21.45) (8.80)
Profit / (Loss) for the year 44.78 (54.62)
Balance Carried Forward to Balance Sheet (152.40) (197.19)
Basic & Diluted EPS .90 (1.09)

OPERATIONS:

The turnover /income from operation of the Company have been recorded at Rs. 21.19 Lacsduring the year under review operating income reduced in comparison with previousFinancial Year recorded at Rs.37.99 Lacs of the Company.

The turnover and operating margins in an environment of lower demand has put severepressure on the Company's turnover and profitability. During the year under review thecontinuous efforts of the Company to streamline and optimize its operations.

DIVIDEND:

In view of the losses incurred by the Company your Directors have not recommended anydividend for the financial year ended 31stMarch

2014.

MATERIAL CHANGE:

There was no material change affecting the financial position of the company betweenthe date of Balance Sheet and the date of this Report.

CHANGE OF THE REGISTERED OFFICE

The Board of Directors at their meeting held on 30th May 2013 approved thechange of Registered Office of the Company to W- 166 E TTC Industrial Area MIDC PawaneNavi Mumbai- 400709 and same was approved by the members of KIRAN PRINT PACK LIMITED theresolutions processed or conducting by way of Postal Ballot and result declare on 9thJuly2013.

SHARE CAPITAL

During the year under review your Company's Authorized Share Capital has remainunchanged at Rs.60000000 (Rupees Six Core) comprising 6000000 Equity Shares ofRs.10/- each.

During the year under review your Company's Paid-up Equity Share Capital has alsoremained unchanged at Rs.50029000 (Rupees Five Crore Twenty Nine Thousand) comprising5002900 Equity Shares of 10/- each.

SUBSIDIARY COMPANIES:

The Company does not have any subsidiary as on 31st March 2014.

EMPLOYEES STOCK OP TION SCHEME(S):

During the year ended 31st March 2014. The Company has not floated anyscheme in relation to Employees Stock Option(s) and no such further plans have beeninitiated at present in this regards.

RISK MANAGEMENT:

The Company has established system and framework to control the risk management. Underthis system management identified across all business processes of the Company oncontinuous basis and when management identified these risks are systematicallycategorized and proper procedures for risk assessment and minimization thereof have beenlaid down by the management of the Company in accordance with the Company's exposure tothe all types of business risks involved in the operations of the Company.

PUBLIC DEPOSITS:

The Company has not accepted any public deposits during the financial year undersection 58A of the Companies Act 1956 (corresponding to section 73 of the Companies Act2013) read with Companies (Acceptance of Deposits) Rules 1975.

PARTICULAR OF EMPLOYESS:

Information as per Section 217(2A) of the Companies Act 1956 read with the Companies(Particulars of Employees) Rules 1975 as amended from time to time is not given as thereis no employee drawing salary more than that mentioned under the said section.

EMPLOYEE RELATIONS:

Your Directors wish to place on record its appreciation of the contribution made by allthe employees in ensuring the highest levels of performance and growth that your companyhas achieved during the year.

SAFETY HEALTH AND ENVIRONMENT:

Your Company recognizes its role in health and safety as well as its responsibilitytowards environment and society. Your Company's goals are: no accidents no injuries topeople and no damage to environment. Safety and security of personnel assets andenvironmental protection are also on top of the agenda of the Company. Clean environmentand sustainable development integrated with the business objective is the focus ofoperations of the Company.

DIRECTORS:

Mr. Karan Kamal Mohta director of the company retires by rotation and being eligibleoffers himself for re-appointment. Mr. Karan Kamal Mohta was appointed as an Managingdirector of the company and Mrs. Sudha Mohta (lady director) was appointed as anadditional director of the company on Board Meeting dated 14th August 2014 andsame was recommended to shareholder approval in forthcoming Annual General Meeting .

(We regret to informed you that Mr. Kamal Kumar Mohta Managing Director of the companywas suffering from major ailment and passed away on 27th April 2014 and he wasassociated with the company since inception.)

DIRECTORS' RESPONSIBILITY STATEMENT

As required under Section 217 (2AA) of the Companies Act 1956(corresponding to section134(5) of the Companies Act 2013) it is hereby stated that:

1. In the preparation of the annual accounts the applicable accounting standards havebeen followed along with the proper explanation relating;

2. The Directors have selected such accounting policies and applied them consistentlyexcept as otherwise stated in the Notes on Accounts and made judgments and estimate thatare reasonable and prudent so as to give a true and fair view of the state of affairs ofthe Company as at end of the financial year (March 31st 2014) and of the lossof the Company for the Period under review;

3. The Directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provision of all applicable laws forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

4. The Directors had prepared the accounts on a "going concern" basis; and

5. The Directors have laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and operating effectively.

AUDITORS:

The present Auditors of your Company M/s. ASL & Co. Chartered AccountantsMumbai hold office until the conclusion of this Annual General Meeting. They have signedtheir willingness to accept re-appointment and have further confirmed their eligibilityunder Section 141 of the Companies Act 2013.

AUDITORS' REPORT & NOTES ON ACCOUNTS

The observations made by the Auditors are self-explanatory and have also been furtheramplified in the Notes to Accounts.

AUDIT COMMITTEE

The Company has an Independent Audit Committee which is headed by Mr. DwarkadasDeokishan Bagri and comprises of Mrs. Sudha Mohta Mr. Sanjay Kumar Loiwal as members TheAudit Committee of the Company has been constituted as per provision of Section 177 of theCompanies Act 2013 (corresponding to section 292A of the Companies Act 1956) and clause49 of the Listing Agreement. The Audit Committee of the Company is entrusted with theresponsibility to supervise the Company's internal controls and financial.

CORPORATE GOVERNANCE REPORT

Pursuant to clause 49 of the Listing Agreement with Stock Exchange Corporate GovernanceReport the certificate as per the requirement of Clause 49 (V) of the Listing Agreementby the CEO/CFO and Certificate regarding Compliance of conditions of Corporate Governanceare annexed to the Annual Report.

EMPLOYEES WELFARE

The company's focus on welfare and improving the quality of lives of its people hascontinued as before. In order to improve the standard of living of our employees we havebeen providing educational assistance to the children of employees. Safety in all aspectsof work and even personal safety is of utmost importance and the company is taking allpossible steps to ensure a safe working condition for all employees.

MANAGEMENT DISCUSSION AND ANALYSIS

As required by Clause 49 of the Listing Agreement with the stock Exchanges aManagement Discussion and Analysis is appended to the Annual Report.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:

The information relating to the conservation of energy technology absorption andforeign exchange earnings and outgo as required to be disclosed under the Companies(Disclosure of Particulars in the Report of the Board of Directors) Rules 1988 is givenin Annexure forming part of this Report.

ACKNOWLEDGEMENT

Your Directors would like to acknowledge and place on record their sincere appreciationto all stakeholders - Clients Financial Institutions Banks the Company's valuedinvestors and all other business partners for their continued co-operation and excellentsupport received during the year. Your Directors recognize and appreciate the efforts andhard work of all the employees of the Company and their continued contribution to itsprogress. and look forward to their continued support in the future.

For and on behalf of the Board of directors
Place: Navi Mumbai Mr. Karan Kamal Mohta
Date : 14th August 2014 Chairman of the Meeting
(Managing Director)
(DIN : 02138590)

Annexure to Director's Report

Information in accordance with The Companies (Disclosure of Particulars in the ReportBoard of Directors) Rules 1988 and forming part of Directors' Report for the year ended31st March 2014

Conservation of Energy:

a) Energy Conservation measures undertaken:

Our Company is committed to the conversation of the resources. There is no wastage ofenergy and the working groups formed by the company for this purpose continuously monitorthe consumption of various forms of energy and evaluate the option available for energyconservation. Investments will be made when required for any activity identified as asource for helping us to achieve further energy savings. The Company is not using anyforeign technology. The Company has an efficient energy conservation task force whichactively monitors energy usage and its conservation. The measures undertaken during theyear were:

I) Follow up of the report and monitoring of energy consumption.

ii) Use power efficient lighting system.

b) Additional investment and proposal if any being implemented for reduction ofconsumption of energy:

The proposal is made under consideration for installation of energy analyzers.

c) Impact of measures at (a) & (b) above for reduction of energy consumption &consequent impact on the cost of production of goods:

Energy conservation measures continue to reduce the cost per unit with reference toenergy consumption.

d) Total energy consumption and energy consumption per unit as perform A of Annexure tothe rules of Industries specified in the schedule thereto:

Not Applicable

Technology absorption Research & Development (R&D):

a) Specified areas in which R&D carried out by the Company and results derived as aresult of R & D:

The Company does not have any separate R & D department which carries suchactivities.

b) Future Plan of action:

The Company would continue to focus on its development activities for new launchesimports substitutions and the improvement of the quality.

c) Expenditure on R & D:

No separate account has been maintained for the expenditure incurred on R & D.

Technology absorption adoption & innovation

Technology absorption for printing of materials has been completed.

Technology imported: NA
Foreign exchange earnings and outgo
Foreign Exchange Earned Rs. NIL
Foreign Exchange Used Rs. NIL

Innovation

Your Company has created a innovation Forum and dedicated Innovation Portal forcollecting and working on new ideas generated within the organization.

For and on behalf of the Board of directors
Place: Navi Mumbai Mr. Karan Kamal Mohta
Date : 14th August 2014 Chairman of the Meeting
(Managing Director)
(DIN : 02138590)