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Suryoday Allo-Metal Powders Ltd.

BSE: 531920 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE804C01013
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Suryoday Allo-Metal Powders Ltd. (SURYODAYALLO) - Director Report

Company director report

DIRECTORS REPORT

To The Member,

Your Directors have pleasure in presenting the 18th Annual Report andaudited statement of accounts of the Company for the Year ended 31st March,2011.

FINANCIAL RESULTS:

Rs. Lacs

1 Particulars For the year ended 31.03.2011 For the year ended 31.03.2010
Sales & Other Income 9783.72 2.42
Profit /(Loss) before Depreciation 15.14 0.55
Depreciation NIL NIL
Profit/(Loss) before Taxes 15.14 0.10
Provision for Taxation 5.20 NIL
Profit /(Loss) after Taxes 9.94 0.10
Balance 533.67 NIL
Balance brought forward from previous 543.61 NIL
year
Profit Available for Appropriations
Proposed Appropriations:
JJJSpecial Reserve Fund NIL NIL
Ii} Balance Carried to Balance Sheet NIL NIL

OPERATIONS

The company during the year had carried out certain trading operation and renderedservices for its earnings. The funds of the company have been deployed to earn reasonablereturn with minimum risk. The company operational results are attached to the accounts.

FUTURE OUTLOOK

The company is making efforts to commerce new activities during the year. The companydecide to operate the activity of trading and rendering of services in the current Year.

DIVIDEND

With a view to conserve the resources of the Company the Board of Directors have notrecommended any dividend for the year ended 31st March 2011.

DEPOSITS

Your company has not accepted any deposit from the public during the year under report.

DIRECTORS

Mrs. Pushpa Sonawani and Mr. Sanjay Sonawani Directors of the Company retire byrotation and being eligible offer themselves for re-appointment.

AUDITORS

Messrs. K. Sampat & Co., Chartered Accountants, the retiring Auditors have notsought reappointment. It has been proposed to appoint Messrs. AMD & Company, CharteredAccountants as Auditors of the Company. The Company has received a Certificate from themthat they are qualified under Section 224 (1) of the Companies Act, 1956 for appointmentas Auditors of the Company. Members are requested to consider their appointment at aremuneration to be decided by the Board of Directors for the financial year ending March31, 2011 as set out in the Notice convening the Meeting.

AUDITORS REMARKS

The remarks of the auditors are self explanatory in nature and need no furtherclarification.

STATUTORY INFORMATION

The company having appointed one employee in the current Year, particulars of employeesas required under Section 217(2A) of the Companies Act, 1956, read with the Companies(Particulars of Employees)) Rules, 1975.

CORPORATE GOVERNANCE

The company thought not yet mandatory require to comply with provisions laid down inthe Listing Agreement on corporate governance, has adhered to strict levels of corporategovernance and management.

DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors confirm that:

1] In the preparation of the annual accounts, the applicable accounting standards havebeen followed along with proper explanations relating to material departures.

2] Appropriate accounting policies have been selected and applied consistently andjudgments and estimates wherever made are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company as at the 31st March 2011.

3] Proper and sufficient care has been taken for the maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act, 1956 for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities.

4] The Annual Accounts have been prepared on a going concern basis. A

CKNOWLEDGEMENT

Yours Directors wish to thank the company 's bankers and all other associates, fortheirs co- operation

and support during the year. For and on behalf of Board of Directors For SuryodayaAllo-Metal Powders Limited

Sd/-

Chairman. Place:- Pune

Date:-25.08.2011