Your Directors have pleasure in presenting the 7TH Annual Report on the companyalongwith the Audited Financial Statement for the financial Year ended on March 31st2016.
Financial summary of the Company (Standalone)
The Companys financial performance for the year under review along with previousyears figures is given hereunder:
|Particulars ||For the year ended 31.03.2016 ||For the year ended 31.03.2015 |
|Income from Business Operations ||462694412.00 ||378667973.00 |
|Other Income ||571944.00 ||201330.00 |
|Total Income ||463266356.00 ||378869303.00 |
|Total Expenses ||439442023.72 ||367769039.25 |
|Profit before tax ||23824332.28 ||11100263.75 |
|Less:- Current Income Tax (incl. earlier year tax) ||4960710.00 ||2219679.00 |
|Add/Less:-Deferred Tax ||5267850.00 ||1304868.00 |
|Net Profit after Tax ||13595772.28 ||7575716.75 |
|Dividend (including Interim if any and final) ||- ||- |
|Net Profit after dividend and Tax ||13595772.28 ||7575716.75 |
|Amount transferred to General Reserve ||13595772.28 ||7575716.75 |
|Balance carried to Balance Sheet ||13595772.28 ||7575716.75 |
|Earnings per share (Basic) ||2.58 ||1.62 |
|Earnings per Share(Diluted) ||2.58 ||1.62 |
To conserve the resources of the company and requirement of working capital Directorsdo not recommend any dividend for the Year under consideration.
Transfer Of Unclaimed Dividend To Investor Education And Protection Fund
The provisions of Section 125(2) of the Companies Act 2013 do not apply as there wasno dividend declared and paid last year.
The amounts if any which the Board proposes to carry to any reserves is to be given.
Brief description of the Companys working during the year/State of Companysaffair
Your Directors wish to present the details of Companys Business operations andState of affairs during the year under review:
a) Profitability: - The profit/loss for the year company is Rs. 13595772.28 incomparison Rs. 7575716.75 last year.
b) Sales: - The turnover/receipt from the last year of the Company is Rs462694412.00.
c) Marketing and Market environment: - Your company has successfully established itsbusiness under the name & style "RAGHAV RAMMING MASS LIMITED" at Jaipur.
d) Future Prospects including constraints affecting due to Government policies: Thecompany is exploring/searching for new prospects thereon.
Material changes and commitments if any affecting the financial position of thecompany which have occurred between the end of the financial year of the company to whichthe financial statements relate and the date of the report
No material changes and commitments affecting the financial position of the Companyoccurred between the end of the financial year to which these financial statements relateon the date of this report
Details of Subsidiary/Joint Ventures/Associate Companies
The Company does not have any Subsidiary Joint venture or Associate Company.
The Company has neither accepted nor renewed any deposits during the year under review.
B P Mundra and Company Chartered Accountants (FRN-004372C) were re-appointed asStatutory Auditors of the Company.
B P Mundra and Company Chartered Accountants be and are hereby ratified asStatutory Auditors of the Company to hold office from the conclusion of this Meeting tillthe conclusion of the next Annual General Meeting of the Company.
The company has received an audit report from the statutory auditors of the company andaccording to the report financial statements for the year ended on 31st March2016 give a true and fair view of the state of affairs of the company and are inconformity with the prescribed accounting principles and there were no qualificationsreservations or adverse remarks made by the auditors in their respective reports.
A. BUY BACK OF SECURITIES
The Company has not bought back any of its securities during the year under review.
B. SWEAT EQUITY
The Company has not issued any Sweat Equity Shares during the year under review.
C. BONUS SHARES
Company has issued Bonus Shares were issued during the year under review.
D. EMPLOYEES STOCK OPTION PLAN
The Company has not provided any Stock Option Scheme to the employees.
Issue of equity shares with differential rights
The Company has not issued any equity shares with differential voting rights.
Provision of money by company for purchase of its own shares by employees or bytrustees for the benefit of employees
The company had no such provision of money for purchasing its own shares by employeesor by trustees during the year.
Extract of the annual return
The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule12 of the Companies (Management and administration) Rules 2014 is furnished in "Annexure-A"and is attached to this Report.
Conservation of energy technology absorption and foreign exchange earnings and outgo
The details of conservation of energy technology absorption foreign exchange earningsand outgo are as follows:-
The provisions of Section 134 (3) (m) of the Companies Act 2013 do not apply toour Company.
There was no foreign exchange inflow or Outflow during the year under review.
Corporate Social Responsibility (CSR)
The Company has not developed and implemented any Corporate Social Responsibilityinitiatives as the said provisions are not applicable as on 31.03.15.
A. Changes in Directors and Key Managerial Personnel
There was appointment of any director Company secretary and CFO During the yearunder review.
No director has been resigned.
B. Declaration by an Independent Director(s) and re-appointment if any
The provisions of Section 149 pertaining to the appointment of Independent Directors donot apply to our Company however it apply 2016-17 as company already appointed independentdirector.
Number of meetings of the Board of Directors
The Company had 17 (Seventeen) Board meetings during the financial year under review.
Disclosure of Composition Of Audit Committee
The provisions of Section 177 of the Companies Act 2013 read with Rule 6 and 7 of theCompanies (Meetings of the Board and its Powers) Rules 2013 is not applicable to theCompany.
Disclosure on Vigil Mechanism
The Company has established a vigil mechanism and overseas through the committee thegenuine concerns expressed by the employees and other Directors. The Company has alsoprovided adequate safeguards against victimization of employees and Directors who expresstheir concerns. The Company has also provided direct access to the chairman of the AuditCommittee on reporting issues concerning the interests of co employees and the Company.
Nomination and Remuneration Committee
The provisions of Section 178(1) relating to constitution of Nomination andRemuneration Committee are not applicable to the Company and hence the Company has notdevised any policy relating to appointment of Directors payment of Managerialremuneration Directors qualifications positive attributes independence of Directors andother related matters as provided under Section 178(3) of the Companies Act 2013.
Particulars of loans guarantees or investments under section 186
There were no loans guarantees or investments made by the Company under Section 186 ofthe Companies Act 2013 during the year under review and hence the said provision is notapplicable.
Particulars of contracts or arrangements with related parties:
The following are the contract or arrangements made with related parties as definedunder Section 188 of the Companies Act 2013 during the year under review :
Mr. Rajesh Kabra 600000
Sanjay Kabra 50000
Krishna Kabra 50000
Secretarial Audit Report
The provisions relating to submission of Secretarial Audit Report are not applicable tothe Company however company shares listed during the year 2016-17 therefore it applicablefrom FY 2016-17.
Corporate Governance Certificate
The provisions relating to corporate governance are not applicable to the Company.
The Company has formed a Risk Management Committee consisting of:-
And on the suggestions of the respective Committee members the Board of Directors hasensured that an effective KYC program is put in place and has established appropriateprocedures and is ensuring its effective implementation. The program covers propermanagement oversight systems and controls segregation of duties training and otherrelated matters. Responsibility has been explicitly allocated within the company to ensurethat companys policies and procedures are implemented effectively. The Board hasdevised procedures for creating Risk Profiles of new customers and will apply various AntiMoney Laundering measures keeping in view the risks involved in a transaction account orbusiness relationship.
Company will ensure that its audit machinery is staffed adequately withindividuals who are well-versed in such policies and procedures. Concurrent/InternalAuditors will specifically check and verify the application of KYC procedures and commenton the lapses observed in this regard. The compliance in this regard will be put up beforethe Audit Committee of the Board at quarterly intervals.
Company will have an ongoing employee training program so that members of thestaff are adequately trained in KYC procedures. Training requirements will have differentfocuses for frontline staff compliance staff and staff dealing with new customers.
Customer Education: The implementation of KYC procedures requires company todemand certain information from customers which may be of personal nature or which hashitherto never been called for. This can sometimes lead to a lot of questioning by thecustomer as to the motive and purpose of collecting such information. Companys frontline staff will therefore personally discuss this with customers and if required companywill also prepare specific literature/pamphlets etc. so as to educate the customer on theobjectives of the KYC program.
STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THECOMPANY
Directors Responsibility Statement
In accordance with the provisions of Section 134(5) of the Companies Act 2013 theBoard hereby submits its responsibility Statement:-
i. in the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departures;
ii. the directors had selected such accounting policies and applied them 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 and ofthe profit and loss of the company for that period;
iii. the directors 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. the directors had prepared the annual accounts on a going concern basis; and
v. the directors in the case of a listed company had laid down internal financialcontrols to be followed by the company and that such internal financial controls areadequate and were operating effectively.-
vi. the directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems were adequate and operating effectively.
Your Directors place on record their sincere thanks to bankers business associatesconsultants and various Government Authorities for their continued support extended toyour Companies activities during the year under review. Your Directors also acknowledgesgratefully the shareholders for their support and confidence reposed on your Company.
| ||FOR AND ON BEHALF OF || |
| ||RAGHAV RAMMING MASS LIMITED || |
|PLACE: JAIPUR ||(Sanjay Kabra) ||(Rajesh Kabra) |
|DATE: 27/05/2016 ||Whole Time Director ||Managing Director |
| ||DIN: 02552178 ||DIN: 00935200 |
27. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS ANDOUTGO
The information required to be disclosed pursuant to Section 134(3)(m) of the companiesact 2013 read with Rule 8 of companies (Accounts) Rules2014 the particulars oftechnology absorption and foreign exchange earnings and outgo is provided as under.
CONSERVATION OF ENERGY
The company is undertaking regular periodic energy conservation measures:-
|Particulars ||Year ended 31.03.2016 ||Year ended 31.03.2015 |
|A. POWER AND FUEL CONSUMPTION || || |
|a) Electricity : || || |
|Purchased Units ||1426916 ||241697.2 |
|Total Amount (in Rs.) ||6228093 ||1301864 |
|Rate / Unit (Rs.) ||4.36 ||5.38 |
|b) Own Generation : || || |
|Through Diesel || || |
|Generator || || |
|Units || || |
|FO / HSD (Ltrs.) || || |
|Total Amount (in Rs.) ||NA ||NA |
|Units Per Ltr. of Fuel || || |
|Oil/Gas ||NA ||NA |
|Cost / Unit (Rs.) ||NA ||NA |
|c) Steam : || || |
|Through Furnace Oil || || |
|Total Amount (Rs.) || || |
|Litres (Furnace Oil) ||N.A. ||N.A. |
|Rate / Ltrs (Rs.) || || |
|Through Coal / Lignite || || |
|Total Amount (Rs.) || || |
|Coal (Kgs.) || || |
|Rate / Kgs (Rs.) ||N.A. ||N.A. |
|Total Steam Amount (Rs.) || || |
|Total Amount || || |
|B. CONSUMPTION PER UNIT || || |
|PRODUCTION ||6228093 ||1301864 |
|Products : Shoes (in Pairs.) || || |
|Energy Consumption || || |
|Per Pairs. (in Rs.) || || |
RESEARCH & DEVELOPMENT / TECHNOLOGY ABSORPTION
Company continued to give utmost importance to the R&D activities. The Company hasits own in-house well-developed Research and Development division. The objective of theCompany through continuous Research and Development activities is the introduction of costeffective state-of-art-products with enhanced life and to increase the productioncapacity.
FOREIGN EXCHANGE EARNING AND OUTGO
Activities relating to exports; initiatives taken to increase exports development ofnew export markets for product and services; and export plans:
|The earning and outgo is as || |
| ||(Amount in Rs.) |
|Earning: || |
|Export (FOB) ||9438029.60 |
|Outgo: || |
|Travelling Exp ||619000.00 |
|Capital Expenditure ||197633.00 |