You are here » Home » Companies » Company Overview » National Plywood Industries Ltd

National Plywood Industries Ltd.

BSE: 516062 Sector: Others
NSE: N.A. ISIN Code: INE497C01016
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

National Plywood Industries Ltd. (NATLPLYWOOD) - Director Report

Company director report

DIRECTORS

TO THE MEMBERS:

Your Directors have pleasure in presenting herewith their 39th Annual Report togetherwith the Audited statement of Accounts of the Company for the year ended 31st March 2014.

Reports: Financial

PARTICULARS 2013-14 2012-13
(in Rs) (in Rs)
Revenue from Operations (Gross) 447445300 341367485
Less : Excise Duty & Sales Tax 17261167 9445501
Revenue from Operation (Net) 430184133 331921984
Add.: Other Income 2389204 9414803
Total Revenue 432573337 341336787
Less: Total Expenses 432184151 340476129
Profit / (Loss) before Depreciation 389186 860658
Add / (Less) Depreciation (2652603) 3058026
Profit / (Loss) before Tax (2263417) (2197368)
Less / Add: Provision for Income Tax
Add: Income Tax adjustment for earlier years — '
Profit / (Loss) After Tax (2263417) (2197368)
Debit Balance Brought-forward from previous year (927008749) (924811381)
Profit / (Loss) available for Appropriation (929272166) (927008749)
Loss: Carried to Balance-sheet (929272166) (927008749)

DIVIDEND:

In view of the continuous losses incurred your Directors are unable to recommend anydividend for the year under review.

OPERATION:

The Company has achieved higher turnover of Rs. 432573337 which is higher by 26.3%from that of the previous year despite the market being very competitive.

PROSPECTS & FUTURE GROWTH :

Considering the increase in the construction building and infrastructure sectors asteady growth is envisaged for this industry. Commercial production from the Company'sMargherita Unit will start very shortly which will lead to increase in the turnover ofyour Company.

QUALITY MANAGEMENT:

The Company's commitment to high standards of quality and on time delivery continuesagainst competitive price pressure.

ENVIRONMENT. HEALTH AND SAFETY:

The Company's commitment to high level of safety health and environment for all itsstake holders employees customers vendors business associates and neighborhood.

HUMAN RESOURCE MANAGEMENT:

Focused human resource(H.R.) initiatives are being taken for training and development.The relations between the employees and the management continues to remain cordial.

DIRECTOR:

In terms of the relevant provisions of Articles of Association of the Company and theCompanies Act 1956 Sri N. G. Paul Director will retire by rotation and being eligibleoffers himself for reappointment.

In terms of provisions of Sections 149150152 and other applicable provision of theCompanies Act 2013 and the rules prescribed there under the non-retiring IndependentDirectors shall be appointed with effect from the date of ensuing Annual General Meetingi.e. 29/09/2014. To comply with these provisions Sri Abhijit Sarkar and Sri Brij GopalJaju were appointed as independent directors for a period of 5 (five) years and they willretire thereafter. Miss Malvika Periwal has been appointed as a Lady Director in the boardin terms of Listing Agreement and recent changes in the Companies Act 2013.

DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to Section 217(2AA) of the Companies Act 1956 the Directors based on therepresentations received from the Operating Management confirm that:

i) In the preparation of the Annual Accounts the applicable accounting standards havebeen followed and that there are no material departures.

ii) In consultation with the Statutory Auditors appropriate accounting policies havebeen followed and applied consistently and judgments and estimates have been made that arereasonable and prudent so as to give a true and fair view of the state of affairs of theCompany as at March 312014 and of the loss for the year ended on that date.

iii) To the best of their knowledge ability and proper and sufficient care has beentaken for the maintenance of adequate accounting records in accordance with applicableprovisions of the Companies Act 1956 for safeguarding the assets of the Company and forpreventing and detecting fraud and other irregularities if any.

iv) The Annual Accounts have been prepared on a going concern basis.

SECURED LOANS:

The Company has paid in full a sum of Rs. 1246.78 Lacs as principal and a sum of Rs.14862284/-. i.e. Rs. 148.62 Lacs towards total interest. The Promoters have paid a sumof Rs. 93.10 Lacs towards purchase of shares as per the directions of BIFR from SASFSTANDARD CHARTERED BANK SBI & STATE BANK OF MYSORE No dues Certificate have beenreceived from SCB SBI and SBM. The company awaits NOC from SASF.

INFORMATION PURSUANT TO SECTION 217 OF THE ACT 1956:

The information required under section 217(2A) of the act 1956 read with the Companies(Particulars of Employees) rules 1975 as amended by the Companies (Particulars ofEmployees) Amended Rules 2011 is not furnished as there is no employee drawingremuneration exceeding the prescribed limits.

CONSERVTION OF ENERGY. TECHNOLOGY ABSORPTION:

Information required under Section 217(1 )(e) of the Companies Act 1956 read withCompanies (disclosure of particulars in the report of Board of Directors) Rules - 1988 isenclosed as Annexure-1.

STATUTORY AUDITOR:

The Members are requested to appoint the Auditors for the current year and fix theirremuneration. M/s. JHUNJHUNWALA & CO. Chartered Accountants having Firm RegistrationNo. 302169E Kolkata the existing Auditors' of the Company have furnished theCertificates of their eligibility for re-appointment under Section 141 of the CompaniesAct 2013 (Corresponding Section 224 of the Companies Act 1956).

CORPORATION GOVERNANCE:

In terms of the Listing Agreement a report on Corporate Governance along with theAuditors' Certificate on its compliance is annexed which is forming part of the AnnualReport.

APPRECIATION:

Your Directors' place on record their appreciation to the continued supportco-operation and assistance from the Shareholders Customers Suppliers Employees andEmployees' Union and other business associates including various Central and StateGovernment Agencies and Bankers.

Head Office: For and on behalf of the Board
5 Fancy Lane
Kolkata - 700 001
P. PERIWAL
Dated : 21st August 2014. (Vice-Chairman & Mg. Director)

ANNEXURE -1

A. Power and Fuel Consumption

Current Year Current Year
2013-14 2012-13
(in Rs.) (in Rs.)
1. Electricity
(a) Purchased (Units) 554464 287321
Total Anount (Rs.) 4155358 2281978
Rate / Unit 7.49 7.94
(b) Own Generation through Diesel Generator
Units (Litres) 37190 22500
Units per litre of diesel Oil 3.00 3.40
Total Units of Power 111548 76452
Total Amount (Rs.) 2091892 1151652
Cost per Unit 18.75 15.06
2. Furnace Oil 0 0
Quantity (K. Litre) 0 0
Total Amount (Rs.) o. 0
Average rate per Litre 0 0
2(a) Wood
Quantity (M. Tons) 480 436
Total Amount (Rs.) 1728232 1526427
Average rate per Ton 3600 3500
B. Consumption per unit of Production
Decorative Laminated Boards (Nos.) Total Prodn. 423527 240845
Electricity (Unit / Unit of Prodn.) 1.57 1.19
Furnace Oil (Ltr. / Unit of Prodn.) - -
Wood (Kgs. / Unit of Prodn.) 1.13 1.81