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Patidar Buildcon Ltd.

BSE: 524031 Sector: Infrastructure
NSE: N.A. ISIN Code: INE637N01014
BSE LIVE 15:14 | 18 Aug 11.80 -0.60
(-4.84%)
OPEN

11.80

HIGH

11.80

LOW

11.80

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 11.80
PREVIOUS CLOSE 12.40
VOLUME 1100
52-Week high 15.90
52-Week low 10.30
P/E 31.89
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 11.80
Sell Qty 1731.00
OPEN 11.80
CLOSE 12.40
VOLUME 1100
52-Week high 15.90
52-Week low 10.30
P/E 31.89
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 11.80
Sell Qty 1731.00

Patidar Buildcon Ltd. (PATIDARBUILD) - Director Report

Company director report

Directors Report

To,

The Members,

We have pleasure in presenting the 27th Annual Report of the Company alongwith the Audited Statements of Accounts for the year ended March 31, 2013. The summarizedfinancial results are given below.

FINANCIAL HIGHLIGHTS:

(Amount in Rs. )

FINANCIAL RESULTS 2012-2013 2011-2012
Revenue from operations 65,125,735 2,695,114
Less: Operational & Other expenses 64,666,979 4,105,789
Profit/(Loss) before Depreciation 458,756 (1,410,675)
Less: Depreciation 12,072 9,829
Profit/(Loss) After depreciation 446,684 (1,420,504)
Add/( Less) Prior Period Adjustment - -
Profit/ (Loss) Before Taxation 446,684 (1,420,504)
Less: Provision for Tax
Current Tax 152,560 -
Deferred Tax (Net) 3,213 -
Net Profit After Tax 290,911 (1,420,504)
Profit / (Loss) brought forward from previous year - -
Balance carried to Balance Sheet 290,911 (1,420,504)

PERFORMANCE REVIEW:

During the year under review, the Company has earned total income of Rs. 65, 125, 735/-in the current year as compared to previous year of Rs. 2, 695, 114/-. The Company hasearned net profit after tax of Rs. 290, 911/- in the current year.

TRANSFER TO RESERVE:

During the year under review, the Company has not transferred any amount to reserves.However, the balance of Profit and Loss Account has been transferred to the Balance sheet.

DIVIDEND:

In absence of sufficient profits, your directors regret for non recommending dividendfor the year under review.

SHARE CAPITAL:

During the year under review, 50, 00, 000 equity shares of Rs. 10/- each to thepromoters and non-promoter on preferential basis on October 13, 2012.

As on 31st March, 2013, the paid up share capital of the Company is Rs. 5, 50, 05,700/- divided into 55, 00, 570 equity shares of Rs. 10/- each.

PUBLIC DEPOSITS:

The Company has not accepted any deposit from the public within the meaning of section58A of the Companies Act, 1956 during the year under review.

DISCLOSURE UNDER SECTION 217 (1) (e) OF THE COMPANIES ACT. 1956:

The Particulars required under Section 217 (1) (e) of the Companies Act, 1956 read withthe Companies (Disclosure of particulars in the report of the Board of Directors) Rules,1988 in Annexure-I to this Directors report.

AUDITORS:

The Company has received resignation from its former Statutory Auditors M/s. BPA &Co., Chartered Accountant. The Board recommends appointment of M/s. K. C. Parikh &Associates, Chartered Accountants as Statutory Auditors of the Company from this AnnualGeneral Meeting till the conclusion of next Annual General Meeting.

The Company has received letter from M/s. K. C. Parikh & Associates., CharteredAccountants, to the effect that their appointment, if made, would be made within theprescribed limits under section 224(1 B) of the Companies Act, 1956.

AUDITORS’ OBSERVATIONS:

Observations of auditor are self explanatory and do not require any further to becommented by directors in this report.

DIRECTORS:

In accordance with the provisions of Companies Act, 1956 and the Articles ofAssociation of the Company, Mr. Dhiraj Patel, Director retires by rotation and beingeligible offer himself for re-appointment.

During the year under review, Mr. Navinchandra Manilal Parmar, Mr. KiritkumarArvindbhai Khetani and Mr. Ishwarbhai Muljibhai Patel was appointed as Directors w. e. fMarch 29, 2013.

Mr. Rajnikant Ramjibhai Patel continues to be Whole-time Director on the Board ofDirector of the Company.

During the year under review, Mr. Pravinkumar Ramjibhai Patel and Ramjibhai BhimjibhaiPatel resigned w. e. f June 20, 2013.

Mr. Dhirajlal Patel and Ms. Ekta Maheshwari are continuing directors of the Companyduring the year under review.

DIRECTORS RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 217 (2AA) of the Companies Act, 1956 thedirectors confirm:

i That in preparation of the Annual Accounts for the year ended March 31, 2013 theapplicable accounting standards have been followed and that no material departures havebeen made from the same.

ii That the directors have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive true and fair view of the state of affairs of the company at the end of the financialyear and of the profit or loss of the Company for that period.

iii That the directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of Companies Act, 1956, forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities.

iv That the directors had prepared the annual accounts on a going concern basis

SUBSIDIARY COMPANY:

The Company does not have any subsidiary.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management Discussion and Analysis Report for the year under review as required underClause 49 of the Listing Agreement is presented in a separate section forming part of theAnnual Report.

CORPORATE GOVERNANCE:

Pursuant to Clause 49 of the Listing Agreement entered into with the Stock Exchanges,the Company has complied with the provisions of Corporate Governance and a report onCorporate Governance is annexed hereto and forms part of this report. A certificate fromPracticing Company Secretary of the Company regarding compliance of Corporate Governance,as stipulated under Clause 49 of the Listing Agreement, is appended to the Annual Report

PARTICULARS OF EMPLOYEES:

Since none of the employees are drawing remuneration beyond the prescribed limits,there is no information to be provided in accordance with the provisions of Section217(2A) of the Companies Act, 1956 read with the Companies (particulars of employees)Rules.

GO GREEN INITIATIVE

Recently the Ministry of Corporate Affairs, Government of India, through its CircularNos. 17/2011 and 18/2011 dated April 21, 2011 and April 29, 2011 respectively, has allowedcompanies to send the annual reports and other official documents to their shareholderselectronically as part of its green initiatives in Corporate, provided the e- mail addressof the shareholder is obtained by the Company from the shareholders.

This action of the Ministry will benefit the society through reduction in paperconsumption and contribution towards a Greener Environment. It will also ensure promptreceipt of communication and avoid loss in postal transit.

Keeping in view the above, your Company proposes to send documents such as the Noticeof the Annual General Meeting, Audited Financial Statements, Directors’ Report,Auditors’ Report, etc., to the shareholders in Electronic Form, to the e-mail addressprovided by them. All the shareholders who wish to receive the Annual Reports inelectronic form, kindly register their email addresses with the Company.

The Company solicits active cooperation of shareholders in helping to implement the e-governance initiatives of the Government.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation for the support andco-operation, which the Company continues to received from its associates and bankers. TheDirectors are also thankful to the shareholders for their unstinted support to theCompany.

On behalf of the Board of Directors
Sd/-
Place: Gujarat Rajnikant Patel
Date: September 02, 2013 Whole-time Director

ANNEXURE I

I CONSERVATION OF ENERGY:

a) Energy conservation measures taken - NIL

b) Additional investments and proposals if any, being implemented for reduction ofconsumption of energy - NIL

c) Impact of the measures at (a) and (b) above for reduction of energy consumption andconsequent impact on the cost of production of goods - NIL

d) Total energy consumption and energy consumption per unit of production - N. A.

Form A - Form for Disclosure of Particulars with respect to conversation of energy

A. Power and Fuel consumption NIL
B. Consumption per unit of production NIL

II TECHNOLOGY ABSORPTION:

Form-B: Form for disclosure of particulars with respect to Technology absorption etc..

1. Research and Development NIL
II. Technology Absorption, Adaptation and Innovation NIL

III. FOREIGN EXCHANGE EARNINGS AND OUTGO:

II. Earnings in Foreign Exchange during the year NIL
III. Foreign Exchange outgo during the year NIL
On behalf of the Board of Directors
Sd/-
Place: Gujarat Rajnikant Patel
Date: September 02, 2013 Whole-time Director