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Seven Hill Industries Ltd.

BSE: 511760 Sector: Financials
NSE: N.A. ISIN Code: INE518D01017
BSE LIVE 09:56 | 25 Jul 2.66 0
(0.00%)
OPEN

2.66

HIGH

2.66

LOW

2.66

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.66
PREVIOUS CLOSE 2.66
VOLUME 500
52-Week high 2.66
52-Week low 2.42
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.66
Sell Qty 414.00
OPEN 2.66
CLOSE 2.66
VOLUME 500
52-Week high 2.66
52-Week low 2.42
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.66
Sell Qty 414.00

Seven Hill Industries Ltd. (SEVENHILLINDS) - Director Report

Company director report

KOSIAN INDUSTRIES LIMITED ANNUAL REPORT 2011-2012 DIRECTOR'S REPORT Dear Shareholders, Your Directors here by present the Twenty Second Annual Report on business and operations of the Company together with the Audited statements of Accounts for the financial year ended on 31st March 2012. OPERATIONS REVIEW: During the year under review due to sluggish market condition and financial crisis company faces huge set back. So company not in position to generate any revenue from the operation but due to some fixed cost company posted Net Loss of Rs. 6,19,952/-. The management has taken measures as part of its continuous improvements to strengthen operations and viability. DIVIDEND: Your Directors have not declared any dividend during the year under review due to loss incurred. FIXED DEPOSIT: The Company has not accepted any deposit from the public pursuant to the provisions of Section 58A of the Companies Act, 1956. DIRECTORS: Mr. Ketanbhai D. Sorathiya Director of the Company is retires by rotation at the ensuing Annual General Meeting and being eligible, offer himself for re-appointment. AUDITORS AND AUDITORS' REPORT: M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. The observations made by the Auditors' in their Auditors' Report and the Notes on Accounts referred to in the Auditors' Report are self-explanatory and do not call for any further comments. MANAGEMENT DISCUSSION AND ANALYSIS: Management Discussion and Analysis forms part of the Annual Report to the shareholders and it includes discussion on matters as required under the provisions of Clause 49 of the listing agreement forming part of this report is annexed herewith. The Audit Committee of the Company has regularly reviewed internal Control System of the company. PARTICULARS OF EMPLOYEES: The statement showing particulars of employees under section 217(2A) of the Companies Act, 1956, read with the companies (Particulars of Employees) Rules, 1975, as amended, is not required to be given as there were no employees coming within the purview of this section. CORPORATE GOVERNANCE REPORT: Your Company perceives Corporate Governance as an endeavor for transparency and a wholehearted approach towards continuous enhancement of shareholders' value. Your Company has been complying with the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement. Further, the Board of Directors of your Company constituted a Committee known as Corporate Governance Committee, which recommends the best practices in the Corporate Governance. A separate report on Corporate Governance along with Auditors' Certificate on compliance with the Corporate Governance norms and stipulated in Clause 49 of the Listing Agreement, forming part of this report is annexed herewith. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: The details of conservation of energy, technology absorption etc. as required to be given under Section 217(1)(e) of the Companies Act 1956, are not applicable to our Company, as our Company has not carried out in the manufacturing activities. The foreign exchange earning on account of the operation of the Company during the year was Rs. Nil. DIRECTORS' RESPONSIBILITY STATEMENT: Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956, the Directors of your Company 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) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 and of the profit or loss of the Company for that period; iii) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; iv) Directors have prepared the accounts on a 'going concern basis'. ACKNOWLEDGMENT: Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the Banks, Government Authorities, Customers, and Shareholders during the year. Your directors also wish to take on record their deep sense of appreciation for the committed services of the employees at all levels, which has made our Company successful in the business. For and on Behalf of the Board For, KOSIAN INDUSTRIES LIMITED PLACE: MUMBAI (ANAND PARDESHI) DATE : 03.08.2012 CHAIRMAN Annexure to Director's Report: MANAGEMENT DISCUSSION AND ANALYSIS Outlook: The company is confident in spite of the possible recessionary conditions in the industry it will perform better in view of the strong fundamentals of the Indian companies and hope to improve its Turnover. Internal Controls Systems and their adequacy: The company has adequate internal control systems to ensure operational efficiency, protection and conservation of resources, accuracy and promptness in financial reporting and compliance of law and regulations. The internal control system is supported by the internal audit process. The Internal Auditor reviews and ensures that the audit observations are acted upon. The Audit Committee of the Board reviews the Internal Audit reports and the adequacy and effectiveness of internal controls. Human Resources The relationship with the employees continues to be cordial. The Company recognizes the importance and contribution of its employees for its growth and development and constantly endeavors to train nurture and groom its people The Company puts emphasis on attracting and retaining the right talent. The company places emphasis on training and development of employees at all levels and has introduced methods and practices for Human Resource Development. Cautionary Statement: Statements in this Management Discussion and Analysis describing the company's objectives, projections, estimates and expectations may be forward looking statement within the meaning of applicable laws and regulations. Actual results might differ materially from those either expressed or implied.