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Shri Khodiyar Industries Ltd.

BSE: 531401 Sector: Industrials
NSE: N.A. ISIN Code: INE843C01011
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Shri Khodiyar Industries Ltd. (SHRIKHODIYAR) - Director Report

Company director report

DIRECTORS REPORT

To,

The Members

Shri Khodiyar Industries Limited

Your Directors have pleasure in presenting the Annual Report together with the AuditedStatement of Accounts for the year ended 31st March, 2011.

FINANCIAL RESULTS:

The summarized financial results for the year ended 31 st March, 2011 are as under:

(Amt in Rupees)
Particulars For the Year Ended on 31.03.2011 For the Year Ended on 31.03.2010
Sales 71154850 3654451
Other Income --
Purchase 68839550 3241236
Total expenses 1839400 293819
Profit / (Loss) before Tax 475900 119396
Provision for Income Tax ----
Profit / (Loss) after Tax 475900 119396

DIVIDEND:

Your Directors do not recommend the dividend for financial year ended on March31.03.2011.

DIRECTORS:

Mr. Shiv Shankar Bhootra, Director of the company is retiring by rotation and beingeligible, offer himself for reappointment. Board recommends his reappointment.

FIXED DEPOSITS:

During the year under review your Company has neither invited nor accepted any publicdeposit or deposits from the public as defined under Section - 58A of the Companies Act,1956 and Rules made there under.

CORPORATE GOVERNANCE:

A separate section on Corporate Governance and a Certificate from Auditors of thecompany regarding compliance of conditions of Corporate Governance as stipulated underclause 49 of the Listing Agreement together with the Management Discussion and Analysis ofthe financial position of the company forms part of the Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS:

The Management Discussion and Analysis Report is attached herewith and forms part ofthe Director Report.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement under section 217 (2AA) of the Companies Amendment Act.2000 with respect to Director Responsibility Statement it is hereby confirmed:

1. That in the preparation of the annual accounts for the financial year ended 31stMarch, 2011 the applicable accounting standards had been followed along with properexplanation relating to material departures.

2. That the directors had selected such accounting policies and applied themconsistently and made judgments and estimates that were reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit of loss of the Company for the ye3r under review.

3. That the directors had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provision of the Companies Act. 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

4. That the directors had prepared the accounts for the financial year ended 31stMarch, 2011 on a going concern basis.

AUDITORS:

M/S Vishves A. Shah & Co.. Chartered Accountants, Auditors of the Company retiresat the conclusion of this Annual General Meeting and being eligible, are recommended forreappointment.

AUDITORS REPORTS:

The observations of the Auditors in their Report and Notes Attached to the Accounts tothe Accounts are Self-Explanatory and do not require any Further Clarifications.

AUDIT COMMITTEE:

The company's present Board of Directors is properly constituted and the company hasalso formed an Audit Committee in compliance with provisions of Section - 292A of theCompanies Act, 1956 and also in compliance with the Clause 49 relating to CorporateGovernance. The duties, powers, responsibilities assigned to the Audit Committee are inline with the Clause 49 of the Listing Agreement.

LISTING:

Equity Shares of the company are listed on Ahmedabad Stock Exchange (ASE) and BombayStock Exchange Limited (BSE). Suspension in trading of shares of the company with BombayStock Exchange Limited has been revoked and Trading in the shares of the company has beenstarted on BSE w.e.f. July. 2011. The Company has paid the Listing Fees to the StockExchange.

PARTICULARS OF THE EMPLOYEES:

Company has no employee who were in receipt of the remuneration of Rs. 24.00,000/- inthe aggregate, if employed for the year and in receipt of the monthly remuneration of Rs.2,00,000/-p.m. if employed for a part of the year as per the provision of Section 217(2A)of the Companies Act, 1956 read with the Companies (particulars of employees) Rules, 1975.Hence the information required under S-217(2A) of the Companies Act, 1956 being notapplicable are not given in this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO:

The Additional information required under Section 217(1)(e) of the Companies Act, 1956relating to Conservation of energy, technology absorption are not applicable to theCompany, as the company is not engaged in the manufacturing activities. The Company has noany Foreign exchange earnings or outgoes during the financial year.

ACKNOWLEDGMENT:

Your company & Directors wish to place on record their appreciation of theassistance and co-operation extended by Investors, Bankers, Customers, BusinessAssociates, Suppliers and Government. We are deeply grateful to shareholders for theircontinued faith, confidence and support to the company. The Directors wishes to place onrecord its appreciation of sincere and dedicated work of employees at all levels, whichhas largely contributed to the present growth of the Company.

On behalf of the Board of Directors

Director

Ahmedabad, 31.05.2011