You are here » Home » Companies » Company Overview » Padmanabh Alloys & Polymers Ltd

Padmanabh Alloys & Polymers Ltd.

BSE: 531779 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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

Padmanabh Alloys & Polymers Ltd. (PADMANABHALLOYS) - Director Report

Company director report

PADMANABH ALLOYS AND POLYMERS LIMITED ANNUAL REPORT 2010-2011 DIRECTOR'S REPORT To, The Members, The Directors have pleasure to present 16th Annual Report of the company together with Accounts for the year ended 31st March, 2011. Financial Statements: [Rs. In lacs] Year Ended Particulars 31/03/2011 31/03/2010 Sales including other Income 1123.24 820.59 Profit/(loss) before Interest & Depreciation 113.70 108.98 Add/Less: Interest 22.04 27.28 Depreciation 16.60 16.81 Income Tax (FBT) 0.00 0.00 Net Profit / (Loss) 75.06 64.88 Balance brought forward (367.95) (432.83) Balance/(Loss) Carried Forward (292.89) (367.95) DIVIDEND: In order of conserve resources, your Directors do not recommend any dividend for the year. MANAGEMENT DISCUSSION AND ANALYSIS a) Operations: The sales including other income for the year under review were Rs.1123.24 against Rs.820.59 in the previous year registering the growth of about 26.94%. The Net profit during the year under review amounted to Rs.77.45 Lacs as against Profit of Rs.64.88 Lacs in the previous year. b) Outlook: The year under review show a good Profit as Company is now Maruti Udhyog Ltd's approved raw material supplier. In this year sales has gone high as compared to previous year. We also aim to achieve Rs. 10.00 Crores sales in next year. Company's Future is Good as day by day demand from automobile sector is increasing. c) Internal Control System: The Company is maintaining an adequate internal control system including procedures. The Company has a system to conduct regularly a review of the financial and operating controls at various places and levels in the company. Further the company has appointed audit committee which regularly reviews with management, external audits and adequacy of internal control system. d) Human Resources: Company currently employs 29 employees which comprises of qualified and trained in technical and managerial skills. It is company's first priority to enrich its employees by prompting learning and enhancing their knowledge by product training and arranging relevant program. The company continued to have cordial and harmonious relations with its employees. The information as per section 217(2A)(b)(ii) of the Companies Act, 1956 read with the Companies (Particulars or Employees) Rules 1975 is not furnished, as no employee of the Company falls within the limits prescribed. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO. Information required as per the Companies (Disclosure of particulars in the Report of the Board of Directors) Rules. 1988, is given in the Annexure-A to this Report. Fixed Deposit: The Company has not accepted any deposits during the year under review: Directors' responsibility statement: Pursuant to section 217(2AA) of the Companies Act, the Directors confirm that:- a) In the preparation of the annual accounts, the applicable accounting standards have been followed; b) Appropriate accounting policies have been selected and applied consistently and judgment and estimates made that are reasonable and prudent so as to give a true and fair view of the State of affairs of the Company at the end of the financial year ended 31st March, 2011 and the Profit and Loss account for that year, c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding assets of the Company and preventing and detecting fraud and other irregularities; d) The annual accounts have been prepared on a going concern basis. Corporate Governance: Being a listed company, necessary measures are taken to comply with the listing agreements with Stock Exchanges. A report on Corporate Governance along with a certificate of compliance from Auditors as per Annexure B form part of this report. DIRECTORS: Dr. Hiler K Desai & Mr. Pravin G Desai retire by rotation at the ensuing Annual General Meeting and being eligible offer themselves for reappointment. Auditors and Auditor's Report: M/s Niikanth Desai & Associates, Chartered Accountants, Auditors of the Company retire and are eligible for reappointment. The Company has received a certificate from the Auditor to the effect that their re-appointment, if made, will be within the prescribed limits under section 224(1-B) of the Companies Act, 1956. The notes on accounts referred to in the Auditors Report are self explanatory and therefore do not call for any further comments. Acknowledgment: The Directors would like to place on record their appreciation for the support and co-operation extended by Canara Bank and Central and State Government Authorities and employees of the Company. For and on behalf of the Board Place: Palsana/Surat Vijay D Vashi Bhikhubhai M. Desai Date : 05/09/2011 Wholetime Director Chairman & Wholetime Director ANNEXURE - A TO THE DIRECTOR'S REPORT 2011: PARTICULARS OF ENERGY CONSERVATIONS, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: (A) Conservation of Energy: Adequate measures have been taken to avoid wastage of energy. The requirements for disclosure with respect to conservation of energy is not applicable to the Company. (B) Technology absorption: Research an Development (R&D): a. Specific area in which R&D was carried out by the Company: Research and Development has continuously been carried out for improvement in quality of existing product and development of new improved product. The development of different grades of master batches and compounds for automobiles, consumer durables, coolers and plastic molded furniture industry. b. Benefit derived as a result of above R&D: Production process have improved resulting in enhanced productivity, efficiency through out and value addition. c. Future plan of action: R&D effort will continue for upgrading the quality of master batches and compounds so as to increase extensive use in cooler, automobile & furniture segments. Steps are continuously being undertaken to upgrade the processing technology development of innovative products and maximum production capacities at optimum cost. d. Expenditure on R&D: Rs. NIL TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION: The Company is continuously taking steps to improve the product and process technology in en effort to provide better quality to the customer and to compete effectively in the market place. (C) Foreign Exchange Earnings & Outgo: 2010-11 (Rs.) 2009-2010 (Rs.) Foreign Exchange Used Nil Nil Foreign Exchange Earned 45,80,615 4,19,710 For and on behalf of the Board Place: Palsana/Surat Vijay D Vashi Bhikhubhai M. Desai Date : 05/09/2011 Wholetime Director Chairman & Wholetime Director