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Socrus Bio Sciences Ltd.

BSE: 524719 Sector: Health care
NSE: N.A. ISIN Code: INE858A01039
BSE 00:00 | 09 Feb Socrus Bio Sciences Ltd
NSE 05:30 | 01 Jan Socrus Bio Sciences Ltd
OPEN 0.54
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VOLUME 5000
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Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.54
CLOSE 0.53
VOLUME 5000
52-Week high 0.54
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Socrus Bio Sciences Ltd. (SOCRUSBIO) - Director Report

Company director report

Directors Report

To

The Members

Your directors present herewith their 23rd Annual Report and Audited Accounts for theyear ended March 31 2013.

FINANCIAL RESULTS & PERFORMANCE

Particulars Figures as at the end of current reporting period Figures as at the end of previous reporting period
(In Rupees) (In Rupees)
Revenue from operations and other income 198875600 301998350.00
Expenses (including material purchases and depreciation) 592497776 237447980.00
Profit before exceptional and extraordinary items and tax (393622176) 64550370.00
Less: Profit From Biotechnology (87844350) 65152370.00
Profit/(loss) Before Tax (305777826) (602000.00)
Tax Expense: Provision for Taxation 0 0.00
Add: Profit From Biotechnology (87844350) 65152370.00
Profit/(Loss) After Tax (-393622176) 64550370.00
Deferred Tax Assets/(Liabilities) 0 (13336821.00)
Profit/(Loss) for the period (-393622176) 51213549.00

DIVIDEND AND BUSINESS OVERVIEW

Due to adequate investment opportunities available within the company itself yourdirectors decided not to recommend any dividend for the year.

DIRECTORS

In accordance with the provision of Companies Act 1956 and the provision contained inthe Article of association of Company Mr. Manish Kumar Jain and Mr. Sunil Kumar Jain beingthe director liable for retirement by rotation and eligible to offer for re-appointment.

Mr. Ashwin Kumar Trivedi Director of the Company has been resigned w.e.f. 25thApril 2013.

Except above there was no change in the directorship of the company during thefinancial year.

M/S Shyam Nagori & Co. Chartered Accountants Indore retires from the office ofthe Auditors and being eligible for re-appointment. The Company has received a certificatefrom them to the effect that the re-appointment if made will be within the limitsprescribed under Section 224 (1B) of the Companies Act 1956.

AUDITORS REPORT

The Report of Auditors of the company for the year under reference is self explanatoryand do not call for any comments from the directors.

COMPLIANCE OF ACCOUNTING STANDARD

As per Clarification given in Para 4 of Auditor Report Company has complied with allapplicable Accounting Standards as per provision of section 211 (3C) of the Companies Act1956 in its Balance Sheet and Profit & Loss Accounts.

CORPORATE GOVERNANCE

The report of the directors on Corporate Governance is given and attached herewithforming part of the directors report.

LISTING OF EQUITY SHARES

Equity shares of your company are listed on Mumbai Stock Exchange only.

DEPOSITS

The Company has not accepted deposit from public attracting provisions of section 58Aof the Companies Act 1956 and rules made there under.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

In terms of section 217(1)(e) of Companies Act 1956 and the Companies (Disclosure ofparticulars in the Report of Board of Directors) Rules 1988 the information under thishead is given and attached herewith forming part of this report.

PARTICULARS OF EMPLOYEES

The company did not have any employee during the year drawing remuneration attractingthe provisions of Section 217 (2A) of the Companies Act 1956 as amended up to date.

DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217 (2AA) of the Companies Act 1956 it ishereby confirmed:

a) That in the preparation of the annual accounts for the financial year ended 31stMarch 2013; the applicable accounting standards had been followed along with properexplanation relating to material departures;

b) 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 or loss of the Company for the year under review;

c) That the director had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the companies Act 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities;

d) That the directors had prepared the accounts for the financial year ended 31stMarch 2013 on a "Going Concern" basis.

APPRECIATION

Your Directors also acknowledge with gratitude the Co-operation given by all themembers and other business associates.

FOR AND ON BEHALF OF BOARD OF DIRECTORS OFSOCRUS BIO SCIENCES LIMITED

MANAGING DIRECTOR WHOLE TIME DIRECTOR
MR. RAJEEV AGNIHOTRI MRS. MADHVI AGNIHOTRI
DATE: 05.09.2013
PLACE: MUMBAI (M.H.)

ANNEXURE-2

ENCLOSURE TO THE DIRECTORS REPORT

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

Information pursuant to section 217(1)(e) of Companies Act 1956 read with theCompanies (Disclosure of particulars in the report of Directors) Rules 1988 forming partof Directors' Report.

A) CONSERVATION OF ENERGY

(i) Energy conservation measures taken:

(ii) Additional investment and proposals if any being implemented for reduction ofconsumption of energy:

(iii) POWER & FUEL CONSUMPTION: 2012-2013 2011-2012
i. Electricity
a) Purchased Unit 7045 8091
Total amount 54250 48550.00
Rate Unit (Rs) 7.70/- 61-
b) Own Generation (Through Generator)
Unit (KWH)
Unit/Ltr of diesel oil 1802 2598
Cost/Unit (Rs) 53 45
ii. Coal
Purchased quantity (in Qtls) N/A N/A
Total amount (Rs. In lacs)
Rate/Unit (Rs)
iii Furance Oil N/A N/A
iv. Others N/A N/A
a) Quantity (in Qtl)
b) Amount (Rs. In lacs)
c) Rate/Unit (In Rs.)

B) TECHNOLOGY ABSORPTION

I) RESEARCH & DEVELOPMENT:

a) Specific areas in which R&D carried out by the company:

b) Benefits derived as a result of the above R&D:

c) Expenditure on R&D:

i) Capital

ii) Recurring

iii) Total

iv) Total R&D expenditure as a %age of turnover

II) TECHNOLOGY ABSORPTION ADAPTATION AND INNOVATION:

Detail of technology imported during the past 5 years:

a) Details of technology imported :

b) Year of import :

c) Has technology been imported fully absorbed :

e) If not fully absorbed areas where this has not taken place :

C) FOREIGN EXCHANGE EARNINGS AND OUTGO:

2012-2013 2011-2012
FOREIGN EXCHANGE EARNING FOREIGN EXCHANGE OUTGO - -
FOR SOCRUS BIO SCIENCES LIMITED - -

Mr. Rajeev Agnihotri

Managing Director

Place: Mumbai

Date: 05.09.2013.