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Malabar Trading Company Ltd.

BSE: 501473 Sector: Financials
NSE: N.A. ISIN Code: INE438D01018
BSE LIVE 15:14 | 04 Feb Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.36
PREVIOUS CLOSE 3.53
VOLUME 5000
52-Week high 3.36
52-Week low 0.00
P/E 30.55
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.36
Sell Qty 1106.00
OPEN 3.36
CLOSE 3.53
VOLUME 5000
52-Week high 3.36
52-Week low 0.00
P/E 30.55
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.36
Sell Qty 1106.00

Malabar Trading Company Ltd. (MALABARTRADING) - Director Report

Company director report

Directors’ Report

To,

The Members,

Malabar Trading Company Limited

Your Directors have pleasure in presenting the Annual Report of the Company togetherwith the Audited Statement of Accounts for the accounting period ended on 31stMarch, 2013.

FINANCIAL RESULTS

(Rs. In Lacs)
Description For the Year ended 31.03.2013 For the Year ended 31.03.2012
Total Income 33.99 40.24
Total Expenditure 13.82 13.44
Operating Profit(PBDT) 20.17 26.8
Depreciation 0.25 0.49
Profit before Taxation 19.92 26.31
Add: Net Deferred Tax Assets/Reversal of DTL 0.00 0.00
Add: MAT Credit Entitlement 0.00 0.79
Less: Interest paid on Income Tax 0.00 0.00
Less: Provision for MAT 0.00 0.00
Less: Current Tax 6.41 5.02
Less: Deferred tax made/(reversed) 0.03 3.99
Profit after Taxation 13.48 18.09
Proposed Dividend 10.85 10.85
Provision for Dividend Tax 1.84 1.76
Net Profit after Tax and Dividend 0.79 5.48
Amount B/F from Last year 42.03 36.55
Balance C/F to Balance Sheet 42.82 42.03

During the year under review the company’s Profit after Tax stood at Rs. 13.48 Lacs.

The Directors expects a further growth in the current year due to the new activitiesbeing taken up in the current year.

DIVIDEND

The Board has recommended 1% dividend on equity shares, i.e., Rs. 0.10 per share of theface value of Rs. 10/- each.

AUDITORS

M/s Katariya & Co., Chartered Accountants, retire as the auditors of theCompany and have confirmed that their re-appointment, if made, would be within the limitsspecified under Section 224 (1B) of the Companies Act, 1956. Your directors recommendtheir re-appointment.

The comments by the Auditors in their Report are self explanatory and in the opinion ofthe Board, do not require any further clarifications.

DIRECTORS

Mr. Rajnath Shukla retired under Section 255 as a Director of the Company with effectfrom 20th November, 2012. Your Board places on record his sincere appreciationof the services rendered by him.

The Board has, with effect from 30th January, 2013, appointed Mr. RajeevAgnihotri as Managing Director of the Company for a period of 3 years. However he ceasedfrom Directorship w.e.f 7th May, 2013. Your Board places on record its sincereappreciation of the services rendered by him.

Mr. Motilal Laxkar ceased to be the Managing Director of the Company with effect from30th January, 2013 & continued to be the Director of the Company and heresigned from directorship with effect from 19th March, 2013. Your Board placeson record its sincere appreciation of the services rendered by him.

Mr. Keval Shah was appointed as an Additional Director w.e.f. 19th March,2013. Notice in writing under section 257 of the Companies Act, 1956 have been receivedfrom members of the Company proposing the candidature of Mr. Shah.

The Board has appointed Mr. Viral Kapadia as an Additional Director designated asManaging Director of the Company w.e.f. 7th May, 2013 for a period of 3 years.

Mr. Vivek Agarwal retires by rotation at the forthcoming Annual General Meeting andbeing eligible offer himself for re-appointment. Directors commend their re-appointment.

AUDITORS’ REPORT

Observations made in the Auditors’ Report are self explanatory, and therefore, donot call for comments under section 217(3) of the Companies Act, 1956.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

In terms of Clause 49 of the Listing Agreement with the Stock Exchanges, managementDiscussion & Analysis Report is appended to this Report.

CORPORATE GOVERNANCE

A separate section on Corporate Governance and certificate from the auditors of theCompany regarding compliance of conditions of Corporate Governance pursuant to clause 49of the Listing Agreement with the Stock Exchanges, forms part of the Annual Report.

INCREASE IN AUTHORISE SHARE CAPITAL

During the year under review, the Company had increased Authorised Share Capital of theCompany from Rs. 11,00,00,000 to Rs. 31,00,00,000 by creation of 2,00,00,000 equity sharesof INR 10 each aggregating to INR 20,00,00,000

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company is not manufacturing unit hence, information pertaining to conservation ofenergy and technology absorption is not applicable to the Company.

There are no transactions pertaining to Foreign exchange earning and outgo during theyear under review.

PARTICULARS OF EMPLOYEES

The Company does not have any employee whose particulars are required to be givenpursuant to the provisions of the section 217(2A) of the Companies Act, 1956, read withthe Companies (Particulars of Employees) Rules,1975.

DIRECTORS RESPONSIBILITY STATEMENT

As required under Section 217(2AA), which was introduced by the Companies (amendment)Act, 2000 you’re Directors confirm that:-

i. In the preparation of the annual accounts, the applicable accounting standards havebeen followed.

ii. The Directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as it gives a true& fair view of the state of affairs of the Company as on 31st March, 2013and the profit & loss of the company for the year ended on 31st March,2013.

iii. 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. The Directors have prepared the Annual Accounts on going concern basis.

ACKNOWLEDGEMENT

The Board of Directors wish to place on record their sincere appreciation andacknowledge with gratitude to the Company’s valued clients and Bankers for theircontinued support. The Directors also record their appreciation of the Company’sEmployees at all their appreciation, commitment and hardwork, without which the resultsachieved by your company would not have been possible and look forward to their continuedsupport.

For and on behalf of the Board,
Managing Director Director
Place: Mumbai
Date : July 26, 2013