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Uniworth Securities Ltd.

BSE: 512408 Sector: Others
NSE: N.A. ISIN Code: INE728J01019
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Uniworth Securities Ltd. (UNIWORTHSECURIT) - Director Report

Company director report

DIRECTORS

To

The Members

Your Directors have pleasure in presenting the 28th Annual Report together with AuditedStatement of Accounts for the year ended 31st March 2014.

FINANCIAL HIGHLIGHTS :
31st March 2014 31st March 2013
(Rs. In ‘000) (Rs. In ‘000)
Total Income 14387.63 11607.81
Profit before Interest and Depreciation 679.60 323.55
Less : Interest
Profit before Depreciation 679.60 323.55
Less : Depreciation 202.48 202.48
Profit before Tax 477.12 121.07
Less : Provision for Taxation 198.66 48.43
Less : Deferred Tax (52.67) (43.91)
Profit After Tax for the year 331.13 116.55
Add : Balance B/F from the Previous year 4432.10 4315.55
Profit available for appropriation 4763.23 4432.10
Appropriations :
General Reserve - -
Dividend on Equity Shares - -
Tax on Proposed Dividend - -
Surplus Balance carried to Balance Sheet 4763.23 4432.10

DIVIDEND :

The Directors have not recommended any dividend for the year.

OPERATIONS MANAGEMENT DISCUSSION AND ANALYSIS :

During the year under review total Income mainly from Trading activities stoodincreased to Rs.143.88 lacs as against Rs. 116.08 lacs in the previous year Profits afterTax increased to Rs. 331.13 Lacs as against Rs. 116.55.

Steps are being taken to increase existing business activities and also considerpossibilities of starting fresh ventures.

DEPOSITS :

Your Company has not accepted any deposit within the meaning of Section 58A of theCompanies Act 1956 and the rules made thereunder.

DIRECTORS’ RESPONSIBILITY STATEMENT :

In compliance of Section 217 (2AA) of the Companies Act 1956 your Directors state asfollows :

a) That in the preparation of accounts applicable accounting standards have beenfollowed.

b) That appropriate accounting policies have been selected and applied consistentlywith reasonable and prudent judgements and estimates so as to give true and fair view ofthe state of affairs of the Company.

c) That proper and sufficient care have been taken for the maintenance of adequateaccounting records for safeguarding assets and for preventing fraud and otherirregularities.

d) That the Annual Accounts have been prepared on a going concern basis.

AUDITORS’ REPORT :

The Notes on Financial Statements referred to in the Auditors' Report are selfexplanatory and therefore do not call for any further comment.

DIRECTORS :

Mrs. Meena Lohia (DIN : 02331504) retire by rotation at the ensuing Annual GeneralMeeting and being eligible offer herself for re-appointment.

During the Year 2013-2014 Mr. B. L. Jain (DIN : 00865207) resigned from the Board witheffect from 25.02.2014.

Mr. P. P. Chowdhury (DIN : 01460839) has ceased as Director of the Company with effectfrom 18.03.2014.

Mr. Kamal Sharma (DIN : 02946513) has been appointed as an Additional Director of theCompany with effect from 25.02.2014. Appropriate Resolution seeking your approval for hisappointment are appearing in the Notice convening the Annual General Meeting.

AUDITORS :

The Auditors M/s R.K Chandak & Co. Chartered Accountants retire at the ensuingAnnual General Meeting and are eligible for re-appointment.

SECRETARIAL AUDITOR

In terms of Section 204 of the Companies Act 2013 the Board of Directors at theirmeeting held on 27th May 2014 have appointed M/s K.K. Sanganeria & AssociatesPracticing Company Secretaries as Secretarial Auditor for conducting Secretarial Auditof the Company for the Financial Year 2014-2015.

COMPLIANCE CERTIFICATE :

In accordance with Section 383A of the Companies Act 1956 and Companies (ComplianceCertificate) Rules 2001 the Company has obtained a certificate from a Secretary in Wholetime Practice confirming that the Company has complied with all the provisions of theCompanies Act 1956 and a copy of such certificate is placed before the Board and noted.

PARTICLUARS OF EMPLOYEES :

The Company has no employee whose remuneration is more than the limit specified inSection 217 (2A) of the Companies Act 1956.

ADDITIONAL INFORMATION :

Statement/Disclosures required pursuant to Section 217(1) (e) of the Companies Act1956 and the rules framed thereunder are not applicable.

On Behalf of the Board
Place : Kolkata Kamal Sharma S. K. Rathi
Date : 27th May 2014 Director Director