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Sapan Chemicals Ltd.

BSE: 531781 Sector: IT
NSE: N.A. ISIN Code: INE823E01035
BSE LIVE 14:46 | 13 Dec 1.81 -0.09
(-4.74%)
OPEN

1.81

HIGH

1.81

LOW

1.81

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.81
PREVIOUS CLOSE 1.90
VOLUME 400
52-Week high 2.71
52-Week low 1.81
P/E 181.00
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.81
Sell Qty 450.00
OPEN 1.81
CLOSE 1.90
VOLUME 400
52-Week high 2.71
52-Week low 1.81
P/E 181.00
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.81
Sell Qty 450.00

Sapan Chemicals Ltd. (SAPANCHEMICALS) - Director Report

Company director report

SAPAN CHEMICALS LIMITED ANNUAL REPORT 2011-2012 DIRECTOR'S REPORT' To, The Members, Your Directors have pleasure in presenting the 17th Annual Report together with audited statement of accounts of the Company for the year ended on 31st March 2012. 01. OPERATIONS DURING THE YEAR: During the year under review the Company's earning has decreased due to competition and reverse market trends. The Company hopes to achieve good results in the current year. 02. FINANCIAL RESULTS: PARTICULARS 2011-12 2010-11 In Rs. In Rs. Total Income 927472 1219396 Profit before Tax -101818 146484 Provision for Taxation 0 0 Net Profit/Loss -101818 146484 Balance B/F -30588 71230 03. PROJECT AND PROSPECTS: The company has resorted to development and marketing of software and consultation in Portfolio Management and other areas. 04. AUDITORS: The members are requested to appoint auditors for the current year and to fix their remuneration. M/s. Mehul & Associates, Chartered Accountants have consented for continuation to act as the auditors of the Company, if re- appointed. 05. DIRECTORS' RESPONSIBILITY STATEMENT: Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors confirm that: (i) In the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures. (ii) Appropriate accounting policies have been selected and applied consistently, and have made judgment and estimates that are responsible and prudent so as to give true and fair view of the state of affairs of the company for said period. (iii) 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 of the assets of the company and for preventing and detecting frauds and other irregularities. (iv) The annual accounts have been prepared on a going concern basis. 06. PARTICULARS OF EMPLOYEES: No employee of the Company qualifies for disclosure pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975. 07. CONSERVATION OF ENERGY: The information required Under Section 217(l)(e) of the Companies Act, 1956, read with Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is not applicable looking to the nature of business of the Company. 08. CORPORATE GOVERNANCE: The Company has implemented various processes in furtherance of Corporate Governance. Pursuant to Clause 49 of the Stock Exchange Listing Agreement, report on Corporate Governance is given in the Annexure - A forming part of the report. 09. PUBLIC DEPOSITS: During the year, Company has not accepted any deposit under section 58A of the Companies Act, 1956. 10. AUDIT COMMITTEE: The Company has formed an Audit Committee comprising of three Directors. The terms of reference of the committee are in line with the requirements as stipulated u/s. 292A of the Company Act, 1956 and Corporate Governance as stated in Clause 49 of the Listing Agreement. 11. DIRECTORS: Mr. Mahesh Ramanlal Shah will retire by rotation at the ensuing Annual General Meeting of the Company and being eligible, offers himself for re- appointment. 12. ACKNOWLEDGEMENT: The Board placed on record its deep appreciation for the continued support from Government agencies, Suppliers, Customers, Banks, all the Staff members and workmen for their co-operation in the operation of the Company during the year. BY ORDER OF THE BOARD OF DIRECTORS FOR SAPAN CHEMICALS LTD. Sd/- JAGDISH R. JANI CHAIRMAN PLACE: BARODA DATE : 31-08-2012 MANAGEMENT DISCUSSION AND ANALYSIS The key issues of the Management Discussion and Analysis are given below. (a) Industry Structure And Developments The Company is in the business of development and marketing of software along with consultation for portfolio management and along with this, already engaged in trading business of salt. (b) Strength The strength of a company is known from the profit it earns due to maintaining the quality in providing the consultation and software business. It also depends on the Government policies of taxation. (c) Comment on Current year's performance Receipts : The Receipt has been phenomenal since the first year of its operations. Operating Expenses : The operating Expenses are well under control. Operating Profits : The Operating Profits are up to industry mark. Indirect Expenses : The Indirect Expenses are under control. Depreciation : Reasonable amount of Depreciation is provided. Profit before tax : Profit before tax has decreased due to lesser turnover As compared to previous year. Taxation : Taxation is Provided as per Income Tax Act. Debtor/Sales : Debtors are reasonable. Creditors/Purchase : The Company has an established credit. (d) Opportunities and threats The Company has ample opportunities in software industry as well as in consultation business. The only threats are from competition and government future policies. (e) Segment wise performance The business of the Company falls under segment i.e. Trading & Consultation. (f) Outlook The continual growth in the Finance sector is expected to give the necessary support to the Software industry. The Company is making all efforts to accelerate growth of its business. It expects to improve its position in the market by focusing on technologically advanced and more profitable products/market segments and working aggressively in the areas of productivity, efficiency and cost reductions. (g) Risk and concerns The Company perceives no risk in its business presently except government policy which may affect adversely in future. (h) Internal control system Internal audit and other controls have been found to be adequate. These are reviewed periodically by the Audit Committee and found the performance satisfactory. (i) Developments in human resources and industrial relations Information as per Sectipn 217 (2A) of the Companies Act, 1956 read with the Companies (Particular of Employees) Rules, 1975 is not required to be given as no employee falls under it. The Company continued to have cordial relations with all the employees. BY ORDER OF THE BOARD OF DIRECTORS FOR SAPAN CHEMICALS LTD. Sd/- JAGDISH R. JANI CHAIRMAN PLACE: BARODA DATE : 31-08-2012