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Nextgen Animation Mediaa Ltd.

BSE: 532999 Sector: Media
NSE: N.A. ISIN Code: INE875I01010
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Nextgen Animation Mediaa Ltd. (NEXTGENANIMAT) - Director Report

Company director report

The Members

Your Directors are pleased to present you the Sixth Annual Report with the Auditedconsolidated Financial Statements for the fiscal year from 1st July 2012 to 30th June2013.

Financial Results

Rs. In millions

Standalone Consolidated
2012-13 2011-12 2012-13 2011-12
Sales 3.99 29.33 180.74 264.16
Profits/(Loss) before Interest
Depreciation and Tax (12.93) (0.24) (61.32) 20.06
Less: Interest - (2.60) - 2.88
Less: Depreciation (10.84) (10.84) (10.84) 10.84
Profit/(Loss) before Tax (75.24) (13.68) (72.16) 6.34
Less: Provision for Tax (Net of prior period tax Adjustment) - - - 1.00
Profit/(Loss) for the Year (75.24) (13.68) (72.16) 5.34
Add:Brought forward balance of Profit & Loss Account 29.52 43.20 84.64 79.29
Balance carried to Balance Sheet (45.72) 29.52 12.48 84.64

Dividend

Your Directors do not recommend any dividend.

Performance

During the year your Company has reported revenues at Rs. 3.99 million compared to Rs.29.33 million during the previous year. The Company has incurred the net loss of Rs.75.24million during the year against the net loss of Rs. 13.68 million earned during theprevious year.

The review of the performance for the period ended June 30 2013 and the businessoutlook of the Company is included in section on Management Discussion and Analysisincluded in Annexure "B" to this report.

Auditors Qualification

The auditors have qualified their audit report as a matter of emphasis regarding nonprovision for impairment in the value of Company’s Intellectual Property Right. TheNote no.17 of Notes to Financial Statements for the year is self explanatory.

Fixed deposits

Your Company has not accepted any fixed deposits and as such no amount of principalor interest was outstanding as of the Balance Sheet date.

Directors:

Dr. Naran Raman retires by rotation at the ensuing Annual General Meeting and beingeligible offer himself for reappointment.

Directors’ Responsibility Statement

Pursuant to the requirement under section 217(2AA) of the Companies Act 1956 withrespect to Directors’ Responsibility Statement it is hereby confirmed

i) that in the preparation of the annual accounts for the financial year ended30.06.2013 the applicable accounting standards had been followed along with properexplanation relating to material departures;.

ii) that they had selected such accounting policies and applied them consistently andmade judgments and estimates that are reasonable and prudent so as to give a true and fairview of the state of affairs of the Company at the end of the financial year and of theprofit or loss of the Company for that period;

iii) that they had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

iv) that they had prepared the annual accounts on a going concern basis.

Auditors:

The auditors M/s. P.C.Surana &Co Chartered Accountants Mumbai who have beenappointed as the statutory auditors of the Company at the Extra Ordinary General BodyMeeting of the Company held on 12.08.2015 for the three financial years consecutively from2011-12 to 2013-14 who retire at the ensuing Annual General Meeting and have confirmedtheir eligibility and willingness to accept office if their appointment ratified.

Consolidated Accounts

We are enclosing the audited consolidated accounts for the period ended 30th June 2013.

The copy of Audited Financial Statement of WOS Ms. Advaitaa Technologies Inc. isavailable with the Secretarial Department.

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement with Stock Exchanges a report onCorporate Governance is given in Annexure "A".

Management Discussion and Analysis

Pursuant to clause 49 of the Listing Agreement with Stock Exchanges a report onManagement Discussion Analysis is given in Annexure "B".

Employee Particulars

Particulars of employees as required under section 217(2A) of the Companies Act 1956and the Companies (Particulars of Employee) Rules 1975 as amended forms part of thisreport.

Conservation of Energy Technology Absorption and Foreign Exchange Earnings and Outgo:

The particulars as prescribed under section 217(1)(e) of the Companies Act 1956 readwith the Companies (Disclosure of particulars in the report of Board of Directors) Rules1988 are as follows :-

A. Conservation of Energy:

The Company’s operations are not power intensive. Nevertheless your Company hasintroduced various measures to conserve and minimize the use of energy.

B. Research & Development (R & D):

a) Specific areas in which R & D is carried out by the Company:

R&D activities include tools development with the object of devising efficientmethods of pre-production phase. The Company has in place a quality assurance team toensure adherence to stringent quality norms.

b) Benefits derived as a result of the above R&D:

Reduction in cost and improvement in quality adaptability of Software Systems andPackages.

C. Technology Absorption Adaptation & Innovation:

No technology has been imported. Indigenous technology available is continuously beingupgraded to improve overall performance.

D. Foreign Exchange Earnings & Outgo:

Activities relating to Exports & Export Plans:

The Company is making continuous efforts to explore new foreign markets and to enlargeits shares in the existing markets for export of digital animation content.

Information on Foreign Exchange earnings and outgo are specified in the notes to theaccounts.

Acknowledgements

Your directors place on record their appreciation of the support extended by CustomersInvestors Bankers Business Associates Vendors Share Holders and various GovernmentAgencies. Your directors would also like to place on record the contribution made by theemployees / consultants who have together contributed for the success of your Company.

On behalf of the Board of Directors

Krishnakumar Subramanian

Chairman and Managing Director

Mumbai 20th August 2015