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Pagaria Energy Ltd.

BSE: 531396 Sector: IT
NSE: N.A. ISIN Code: INE905B01010
BSE LIVE 15:14 | 16 Aug 4.75 -0.25
(-5.00%)
OPEN

4.75

HIGH

4.75

LOW

4.75

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.75
PREVIOUS CLOSE 5.00
VOLUME 10
52-Week high 5.70
52-Week low 2.45
P/E 237.50
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.75
Sell Qty 1340.00
OPEN 4.75
CLOSE 5.00
VOLUME 10
52-Week high 5.70
52-Week low 2.45
P/E 237.50
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.75
Sell Qty 1340.00

Pagaria Energy Ltd. (PAGARIAENER) - Director Report

Company director report

Dear Shareholders

Your Directors are pleased to present Twenty Fifth Annual Report together with theAudited Financial Statements for the financial year ending 31st March 2016.

FINANCIAL RESULTS

The Financial Results for the year under review are given below:

(Rs. In Lacs)
Particulars Year ended 31.03.2016 Year ended 31.03.2015
Total Revenue 194.07 172.69
Profit before tax 0.47 0.25
Less : Provision for Taxation
Current Tax 1.08 0.24
Earlier Year Tax 0.19
Deferred Tax 1.30 (1.33)
Profit after tax 0.50 1.34

DIVIDEND

In order to strengthen the financial position of the company the Board of Directorshave decided not to recommend any dividend for the Financial Year ended 31stMarch 2016 and plough back the profits of the company in its business.

TRANSFER TO RESERVE

The company does not propose to transfer any amount to reserve.

PERFORMANCE

The total revenue for the financial year under review is Rs. 197.07 Lacs against Rs.172.69 Lacs in previous year. During the year the Company has earned Profit after Tax ofRs.0.50 Lacs in comparison to the previous year Profit after Tax of Rs. 1.34 Lacs. Thedirectors are hopeful for better performance in the ensuing years.

WEBSITE OF THE COMPANY

The Company maintains a website www.paQariaenerav.com

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the articles of the Company and the provisions of the Companies Act2013 Mr. Ranjit Singh Pagaria will retire by rotation at the ensuing Annual GeneralMeeting and being eligible offer himself for re-appointment on the Board of your Company.Your Directors recommend his re-appointment.

The Board appointed Mrs. Rekha Patni as "Company Secretary & ComplianceOfficer" w.e.f 30th May 2015 (Up to 12th February 2016).

At the Board Meeting held on 30th May 2015 and 14th August 2015Mrs. Sudha Sharma (Independent women Director) and Mr. Sanjay Kumar Bhansali (IndependentDirector) stepped down from the Company and Mrs. Mamta Bhansali was appointed as anAdditional Independent Women Director w.e.f 14th August 2015.

EXTRACT OF ANNUAL RETURN

The Extracts of the Annual Return for the financial Year 2015-16 as stipulated in Form-MGT-9pursuant to sub-section 3 of section 92 of the Companies Act 2013 and sub rule 1 ofrule 12 of the Companies (Management and Administration) Rules 2014 is given in AnnexureI which forms part of this Report

AUDIT COMMITTEE

The Composition and terms of reference of the Audit Committee has been furnished in theCorporate Governance Report forming part of this Annual Report. There has been no instancewhere the Board has not accepted the recommendations of the Audit Committee.

INDEPENDENT DIRECTOR'S DECLARATION

The Company has received necessary declaration from all Independent Directors inaccordance with section 149(7) of the Companies Act 2013 that they meet the criteria ofindependence as laid down in section 149(6) of the Companies Act 2013 and the SEBI(Listing Obligation and Disclosure Requirements) Regulations 2015.

ANNUAL EVALUATION OF BOARD'S PERFORMANCE

According to Regulation 25 of SEBI (Listing Obligation and Disclosures Requirement)Regulations 2015 and Schedule IV of the companies Act 2013 a meeting of the IndependentDirectors is required to be held to review the performance of the Non- IndependentDirectors and the Board as a whole. Accordingly a separate meeting of IndependentDirectors was held on 31st March 2016 wherein the performance of the Non-ExecutiveDirectors and the Boards as a whole was evaluated.

LISTING OF SHARES

Your Company is listed with Delhi Stock Exchange and Bombay Stock Exchange and theCompany has paid the listing fees.

SUBSIDIARY/ASSOCIATES/JOINT VENTURE COMPANIES

The Company does not have any subsidiary/associate/joint venture company for the yearended 31st March 2016.

STATUTORY AUDITORS

The Auditors of the Company M/s. H.R. AGARWAL & ASSOCIATES CharteredAccountants (Firm Registration No. 323029E) have been appointed at the Annual GeneralMeeting on 30th September 2014. The Company has received consent of theAuditors for Confirmation of office for the current year. Their appointment to the officeis subjected to the ratification by the members at the each Annual General Meeting.

The observations of the Auditors as referred to in the Auditor's Report are suitablyexplained in the notes to the account.

SECRETARIAL AUDITOR

The Board of Directors of the Company had appointed M/s. MR & Associates afirm of Company Secretaries pursuant to the provisions of Section 204 of the CompaniesAct 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 for undertaking the secretarial audit of the company for the financial year ended2015-16. The Secretarial Audit Report in Form MR-3 given by the Secretarial Auditoris given in Annexure II which forms a part of this report

COMPLIANCE WITH THE ACCOUNTING STANDARDS

The Company prepares its accounts and other financial statements in accordance with therelevant accounting principles and also complies with the accounting standards issued bythe Institute of Chartered Accountants of India.

CORPORATE GOVERNANCE

Pursuant to SEBI(Listing Obligation and Disclosure

Requirements)Regulations 2015 Corporate Governance Report and Auditor's Certificateregarding compliance of conditions of Corporate Governance is annexed hereto.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Companies Act 2013 the Board of Directors of theCompany hereby state and confirm that

I. In the preparation of the annual accounts for the year ended March 31 2016 theapplicable accounting standards have been followed along with proper explanation relatingto material departures.

II. The directors have selected such accounting policies and applied then consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year 31stMarch 2016 and of the Profit of the Company for the year ended on that date.

III. The directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of those Acts forsafeguarding the assets of the company and for preventing and detecting fraud and otherirregularities.

IV. The annual accounts have prepared on a going concern basis.

V. The Directors have laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and are operatingeffectively; and

VI. The Directors have devised proper systems to ensure compliance with the provisionsof all applicable Laws and that such systems are adequate and operating effectively.

PUBLIC DEPOSITS

During the year your Company has not accepted any deposits from the public within themeaning of Section 73 of the Companies Act 2013 and the rule made there under.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS

The Company has not given any loans guarantees or made any investments exceeding sixtyper cent of its paid up share capital and free reserves including Securities PremiumAccount or one hundred per cent of its free reserves including securities premium Accountwhich is more as prescribed in Section 186 of the Companies Act 2013

PARTICULARS OF EMPLOYEES

None of the employees of the Company was in receipt of remuneration exceeding thelimits prescribed under section 134 of the Companies Act 2013.

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

As required under Section 134(3) (m) of the Companies Act 2013 read with rules madethere under the information relating Conservation of Energy Technology Absorption andForeign Exchange Earning & Outgo is given in Annexure III. This forms a part ofthis Report.

ACKNOWLEDGEMENT

Your Directors would like to place on record their appreciation for the assistanceco-operation and whole-hearted support received from Company's bankers advisorscustomers and investors and all whose continued support has been a source of strength tothe Company. Your Directors place on record their appreciation for the valuablecontribution made by employees at all levels.

On behalf of the Board of Directors

Place: Delhi Rajesh Kumar Pagaria Ranjit Singh Pagaria
Date: 30th May 2016 Managing Director Director

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO:

The particulars as required to be disclosed pursuant to Section 134 of the CompaniesAct 2013 read with the Companies (Accounts) Rules 2014.

a) Conservation of Energy: The Company is making all efforts to conserve energy bymonitoring energy costs and periodically reviews of consumption of energy. It also takesappropriate steps to reduce the consumption through efficiency in usage and timelymaintenance/ installation/ up gradation of energy saving devices.

b) Technology Absorption Adoption and Innovation: The Company has focused research anddevelopmental activities and has been active in harnessing and tapping the latest and thebest technology in the industry.

c) Foreign Exchange Earnings and Outgo: The Company does not have any foreign exchangeearnings and outgo.

d) No Expenditure has been made for research and development during the year underreview.

On behalf of the Board of Directors

Place: Delhi Rajesh Kumar Pagaria Ranjit SingPagaria
Date: 30th May 2016 Managing Director Director