You are here » Home » Companies » Company Overview » Link House Industries Ltd

Link House Industries Ltd.

BSE: 512349 Sector: Infrastructure
NSE: N.A. ISIN Code: INE080C01028
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Link House Industries Ltd. (LINKHOUSEINDS) - Director Report

Company director report

Your Directors are pleased to present 30hAnnual Report and the auditedfinancial statements for the financial year ended on 31slMarch 2015.

HIGHLIGHTS OF PERFORMANCE

Your Company recorded a Net Sales of Rs. 20444101 in 2014-15 as compared to Rs.41562.891 in the previous year with a corresponding profit before tax of Rs.9.27112 ascompared to Rs. 4596355.

FINANCIAL RESULTS:

The financial performance of the Company for the year ended on 31st March 2015 issummarized below:

RESULTS OF OPERATIONS:

During the year under review the consolidated gross sales decreased by 50.81 /o. theCompany has earned total revenue of Rs. 2044410.

The PB1DT decreased to Rs. 1.23.77.767 as compared to Rs. 16757047 in previous year andthe Profit Before Tax decreased to Rs. 9.27112 as compared to Rs. 4595485 in theprevious year.

The Profit after Tax has decreased to Rs. 640634 as compared to Rs. 4003331 inprevious year and the EPS has decreased to 1% in the previous year of 4% A detailedanalysis of performance for the year has been included in the Management Discussion andAnalysis which forms part of the Annual Report.

DIVIDEND:

Your Directors feel that it is prudent to plough back the profits for future growth ofthe Company and do not recommend any dividend for the year ended 31 March 2015.

MATERIAL CHANGES AND COMMITMENTS:

During the year under review there are no material changes and commitments of thecompany.

CHANGE IN THE NATURE OF BUSINESS:

During the year under review there is no change in the nature of business of thecompany.

DEPOSITS:

During the year under review the Company did not accepted any deposits fiom the publicwithin"the ambit of section 73 of the Companies Act 2013 and the Companies(Acceptance of Deposits) Rules 2014.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE COMPANIES ACT2013

Pursuant to Section 186 of the Companies Act 2013 the details of the Loans givenguarantees on securities provided and investments made are provided in the notes to thefinancial statement. (Please refer to Note 10 to the financial statement).

CORPORATE GOVERNANCE:

The Company has complied with the Corporate Governance requirements under the Act andas stipulated under clause 49 of the Listing Agreement. A separate section on detailedreport on the Corporate Governance practices followed by the Company under the ListingAgreement is part of the Annual Report.

MANAGEMENT DISCUSSION AND ANALYSTS [MDA]:

MDA for the year under review' as stipulated under clause 49 of the ListingAgreement is presented in a separate section forming part of this Annual Report.

RELATED PARTY TRANSACTIONS:

All related party transactions that were entered during the financial year were in theordinary course of business and on an arm's length basis. There were no materiallysignificant related party transactions entered into by the Company with PromotersDirectors Key Managerial Personnel or other persons which may have a potential conflictwith the interest of the Company.

Since all related party transactions entered into by the Company were in the ordinarycourse of business and were on an arm’s length basis Form AOC — 2 is notapplicable to the Company.

DIRECTORS:

I. RETIREMENT BY ROTATION: .

Tn accordance with the provisions of section 152[6] of the Act and in terms of Articlesof Association of the Company Mr. Nandkumar Ilarchandani and Mr. Anil Harchandani willretire by rotation at the ensuing Annual General Meeting and being eligible offerthemself for reappointment. The Board recommends their reappointment.

IU. DECLARATION BY INDEPENDENT DIRECTORS:

The Independent Directors have submitted their declarations of independence asrequired pursuant to the provisions of section 149(7) of the Act stating that they meetthe criteria of independence as provided in section 149[6].

IV. PROFILE OF THE DIRECTORS SEEKING APPOINTMENT / REAPPOINTMENT:

As required under clause 49 of the Listing Agreement particulars of the Directorsretiring by rotation and seeking appointment / reappointment at the ensuing Annual GeneralMeeting is annexed to the notice convening 30IhAnnua! General Meeting.

VI. BOARD EVALUATION:

Pursuant to the provisions of the Act and Rules made there under and as provided underSchedule IV of the Act and clause 49 of the Listing Agreement the Board has carried outthe annual performance evaluation of itself the Directors individually as well as theevaluation ol its committees. The manner in which the evaluation was carried out isprovided in the Corporate Governance Report which is part ot this Annual Report.

VII. REMUNERATION POLICY:

The Board has on the recommendations of Nomination and Remuneration Committee framed aPolicy on selection and appointment of Directors Senior Management and theirremuneration. The Remuneration Policy is stated in the Corporate Governance Report whichis part of this Annual Report.

DIRECTORS’ RESPONSIBILITY STATEMENT:

In terms of section 134[3][c] of the Act your Directors state that:

i. in the preparation of the annual financial statements for the year ended on 31stMarch 2015 applicable accounting standards read with requirements set out under scheduleIII of the Act. have been followed along with proper explanation relating to materialdepartures if any

ii. such accounting policies have been selected and applied consistently and judgmentsand estimates made that are reasonable and prudent so as to give a true and fair view ofthe state of affairs of the company a sat 31stMarch 2015 and of the profit ofthe company for the year ended on that date

iii. proper and sufficient care has been taken for maintenance of adequate accountingrecords in accordance with the provisions of this Act for safeguarding the assets of thecompany and for prevention and detection of fraud and other irregularities

iv. the annual financial statements are prepared on a going concern basis

v. proper internal financial controls are in place and that the financial controls areadequate and are operating effectively and

vi. the systems to ensure compliance with the provisions ot all applicable laws are inplace and are adequate and operating effectively.

BOARD MEETINGS:

During the year under review 5(Fivef Board Meetings were convened and held the detailsof which"are given in the Corporate Governance Report. The intervening gap betweenthe meetings was within the period prescribed under the Companies Act 2013.

The details of constitution of the Board and it Committees are given in the CorporateGovernance Report.

AUDITORS:

I. STATUTORY AUDITOR AND THEIR REPORT:

At the Annual General Meeting held on September 30 2014 M/s. Sanjay S. Agarwal &Company Chartered Accountants were appointed as Statutory' Auditors of the Company tohold office till the conclusion of the 32nd Annual General Meeting. In terms offirst proviso to section 139 of the Companies Act 2013 the appointment of the Auditorsshall be placed for ratification at every Annual General Meeting. Accordingly theappointment of M/s. M/s. Sanjay S. Agarwal & Company Chartered Accountants asStatutory Auditors of the Company will be placed for ratification by the Shareholders. Inthis regard the Company has received a certificate from the Auditors to effect that iftheir appointment is ratified it would be in accordance with the provisions of Section141 of the Companies Act 2013.

The Notes on Financial Statements referred to in the Auditors’ Report areself-explanatory' and do not call for any further comments. The Auditors’ Report doesnot contain any qualification reservation or adverse remark.

BUSINESS RISK MANAGEMENT:

A well-defined risk management mechanism covering the risk mapping and trend analysisrisk exposure potential impact and risk mitigation process is in place. The objective ofthe mechanism is to minimize the impact of risks identified and taking advance actions tomitigate it. The mechanism works on the principles of probability of occurrence andimpact if triggered. A detailed exercise is being carried out to identify evaluatemonitor and manage both business and non-business risks.

Discussion on risks and concerns are covered in the Management Discussion and AnalysisReport which forms part of this Annual Report.

INTERNAL CONTROL SYSTEMS AND ITS ADEQUACY:

The Company has internal control systems commensurate with the size scale andcomplexity of its business operations. The scope and functions of internal auditor aredefined and reviewed by the Audit committee. The internal auditor reports to the Chairmanof the Audit Committee. Internal Auditors presents their quarterly report to the AuditCommittee highlighting various observations system and procedure lapses and correctiveeactions are taken/The internal auditor also assesses opportunities for improvement ofbusiness processes .systems and controls to provide recommendations which can add valueto the organization and it also follows up on the implementation of corrective actions andprocesses. The Management Auditor also ensures the compliance of the observations ofinternal and statutory auditors and presents his report to the Audit Committee.

VIGIL MECHANISM:

The Company has established vigil mechanism policy for Directors and employees toreport concerns about unethical behaviour actual or suspected fraud or violation ofCompany’s Code of Conduct or Ethics Policy. Vigil Mechanism Policy is disclosed onthe website of the Company.

EXTRACT OF ANNUAL RETURN:

The relevant information in prescribed Form No.MGT-9 pertaining to extract of AnnualReturn is attached to this Report as Annexure-"A".

COMMITTEES

The composition of the board committees of the company are as under:

1). AUDIT COMMITTEE

Name Designation Position in Committee
Mr.. Anil Admane Non-Executive- Independent Director Chairman
Mr Ashok Purohit Non-Executive- Independent Director Member
Mr. Nandkumar Harchandani Managing Director Member

2) THE NOMINATION & REMUNERATION/ COMPENSATION COMMITTEE

Name Designation Position in Committee
Mr. Ashok Purohit Non-Executive- Chairman
Independent Director
Mr. Anil Admane Non-Executive- Indepcndent Director Member
Ms. Archana D Wani Executive Director Member

3) STAKEHOLDERS RELATION COMMITTEE

Name Designation Position in Committee
Mr. Ashok Purohit Non-Executive- Tndependent Director Chairman
Mrs. Archana Admane Non-Executive- Independcnt Director Member
Ms. Archana Wani Executive Director Member

PARTICULARS OF EMPLOYEES:

There is no employee drawing salary exceeding the limit prescribed under section 197 ofthe Act read with Rule 5[1] of The Companies [Appointment and Remuneration of Managerial

Personnel] Rules 2014.

ENERGY CONSERVATION TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Information on conservation of energy technology absorption ioreign exchange earningsand outgo as required to be disclosed under section 134[3]Lm] of the Act read with theCompanies [Accounts] Rules 2014 is provided as under:

nConservation of Energy:

The Company does not use any technology or energy for its existing business except forthe electricity used in offices and at the sites of the company which is not a significantpart of the construction cost hence it is not practicable to furnish the information inthis connection.

OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTIONPROHIBITION AND REDRESSAL) ACT 2013:

In terms of provisions of the Sexual Harassment ot Women at Workplace (PreventionProhibition and Redressal) Act 2013 the Company has formulated a Policy to preventSexual Harassment of Women at Workplace. During the year under review there were Women atWorkplace (Prevention Prohibition and Redressal) Act 2013.

SIGNIFICANT AND MATERIAL ORDERS

There are no significant material orders passed by the Regulators or Courts or Tribunalwhich would impact the going concern status of the Company and its future operation.

GENERAL DISCLOSURE:

Your Directors state that the Company has made disclosures in this report for the itemsprescribed in section 134[3] of the Act and Rule 8 of The Companies [Accounts] Rules 2014to the extent the transactions took place on those items during the year.

ACKNOWLEDGEMENT: .... .

Your Directors wish to place on record their sincere appreciation for significantcontributions made by the employees at all levels through their dedication hard work andcommitment enabling the Company to achieve good performance during the year under review.

Date: 27/05/2015 FOR AND ON BEHALF OF THE BOARD
Place: Nagpur Sd/-
(NandKumar K. Harchandani)
Chairman