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NB Footwear Ltd.

BSE: 523242 Sector: Others
NSE: N.A. ISIN Code: INE006F01018
BSE LIVE 13:32 | 01 Aug 6.01 -0.31
(-4.91%)
OPEN

6.01

HIGH

6.01

LOW

6.01

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.01
PREVIOUS CLOSE 6.32
VOLUME 400
52-Week high 6.51
52-Week low 5.00
P/E
Mkt Cap.(Rs cr) 8
Buy Price 6.01
Buy Qty 100.00
Sell Price 6.60
Sell Qty 5000.00
OPEN 6.01
CLOSE 6.32
VOLUME 400
52-Week high 6.51
52-Week low 5.00
P/E
Mkt Cap.(Rs cr) 8
Buy Price 6.01
Buy Qty 100.00
Sell Price 6.60
Sell Qty 5000.00

NB Footwear Ltd. (NBFOOTWEAR) - Director Report

Company director report

DIRECTORS REPORT

The Members

NB FOOTWEAR LIMITED

The Directors are pleased to present their TWENTY SIXTH ANNUAL REPORT together with theaudited Annual Accounts for the year ended 31st March 2014.

01. FINANCIAL RESULTS

The financial results for the year ended 31st March 2014 are given below:-

S.No. Description 2013-2014 2012-2013

(Rs. in lakhs)

01. Turnover/ Income 0.00 0.00
02. Profit/(Loss) before exceptional and extraordinary items (18.55) (12.80)
03. Extraordinary items 0.00 0.00
04. Net Profit/(Loss) (18.55) (12.80)

02. PERFORMANCE

There was no manufacturing activity-during the year under review. The operations haveresulted in a net loss of Rs. 18.55 lakhs

03. OUTLOOK

As you are aware the operations of the Company have been discontinued in 2001. TheCompany is exploring various options including the possibility of entering the Biotechspace in the FMCG window. The plans are likely to be firmed up and implemented during thecurrent fiscal year.

04. OPPORTUNITIES AND THREATS

Even though there exists lot of opportunities for growth cut throat competitioncoupled with higher costs in the inputs and the inflationary levels are thrown open to theindustry.

05. DISCLAIMER

The information and opinion expressed in this report may contain forward lookingstatements which the Managements believes are true to the best of Its knowledge at thetime of its presentation. The Management shall not be liable for any loss which may ariseas a result of any action taken on the basis of information contained therein.

06. DIRECTORS

Mr Rajen K Desai and Mr Gregory Pereira Directors retire at the forthcoming AnnualGeneral Meeting and being eligible offer themselves for re-appointment.

07. AUDITORS

M/s. J V Ramanujam & Co. Chartered Accountants the Statutory Auditors of theCompany hold office until the conclusion of the forthcoming Annual General Meeting and areeligible for re-appointment.

08. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND ADAPTATION. FOREIGN EXCHANGEEARNINGS AND OUTGO

The details relating to conservation of energy technology absorption and adaptationand foreign exchange earnings and outgo for the year ended 31st March 2014 as requiredunder Section 217(1) (e) of the Companies Act 1956 are NIL.

09. DEPOSITS

The Company has not accepted any deposits from the public during the year under report.

10. EMPLOYEES

There are no employees who were in receipt of the remuneration as prescribed underSection 217(2A) of the Companies Act 1956 read with the Companies (Particulars ofEmployees) Rules 1975 and hence annexure as per the Section 217(2A) is not attached.

11. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Act 1956 the Directors hereby confirmthat they have

a) Followed the applicable accounting standards in the preparation of accounts;

b) Selected such accounting policies and applied them consistently and made judgementand estimates that were reasonable and prudent so as to give a true and fair view of thestate of affairs of the Company at the end of the year and profit or loss of the Companyfor the year under review;

c) Taken proper and sufficient care for the maintenance of adequate accounting recordsin accordance with the provisions of the Companies Act 1956 for safeguarding the assetsof the Company and detecting fraud and other irregularities;

d) Prepared the accounts for the financial year on a 'going concern' basis.

12. CASH FLOW STATEMENT

As required by Clause 32 of the Listing Agreement Cash Flow Statement for the yearended 31st March 2014 is enclosed.

13. CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges a report onCorporate Governance with Auditors Certificate on compliance of conditions of CorporateGovernance and a Management Discussion and Analysis Report have been attached to form partof the report.

For and on behalf of the board
Place: Mumbai KANNAN A YADAV
Dated: 30th May 2014 MANAGING DIRECTOR & CEO