The Members of ANMOL INDIA LIMITED
Your Directors have pleasure in presenting the 20lhAnnual Report togetherwith the Audited Statement of Accounts of your Company for the financial year ended March31 2018.
1. FINANCIAL HIGHLIGHTS
|Particulars ||Year ended 31st March 2018 Amount (Rs) ||Year ended 31st March 2017 Amount (Rs) |
|Total Income ||2992422361.05 ||1864956160.61 |
|Total Expenses ||2948632671.28 ||1848600786.18 |
|Profit/(loss) before Exceptional Items and Extraordinary Items and Tax ||43789689.77 ||16355374.43 |
|Add: Exceptional Items ||(4510000.00) ||2576.35 |
|Profit Before Tax ||39279689.77 ||16357950.78 |
|Tax expenses || || |
|-Current Tax ||13069861.00 ||5411490.00 |
|-Deferred Tax ||(82815.00) ||(3061.00) |
|-Income Tax of Previous Years ||6208.00 ||15686.30 |
|-Interest on Income Tax/TDS/TCS/Sales Tax ||61747.44 ||47495.00 |
|Profit/(loss) after taxation ||26224688.33 ||10886340.48 |
Your Directors have not recommended any dividend during the year.
3. TRANSFER TO RESERVES
Your directors have transfer Rs. 23000000/- of profit to the reserve during thefinancial year ended 31st march 2018.
4. MEETINGS OF THE BOARD OF DIRECTORS
During the financial year 2017-18 17 (Seventeen) Meetings of the Board of Directors ofthe Company was held.
5. STATE OF THE COMPANY'S AFFAIRS AND FUTURE OUTLOOK
During the financial year the company had Net Profit of Rs. 26224688.33/- as againstNet Profit of Rs. 10886340.48/- in the previous year.
6. CHANGES IN NATURE OF BUSINESS
There is no change in the nature of the business.
7. MATERIAL CHANGES AND COMMITMENTS
No material changes and commitments affecting the financial position of the Companyoccurred between the end of the financial year to which this financial statement relatesand the date of this report.
8. LOANS. GUARANTEES AND INVESTMENTS
There were no loans guarantees or investments made by the company under section 186 ofthe companies Act 2013 during the year under review.
9. EXTRACT OF ANNUAL RETURN
The extract of Annual Return in form no. MGT-9 as required under Section 92 of theCompanies Act 2013 for the financial year ending March 31 2018 is annexed hereto asAnnexure 1 and forms part of this Report.
10. RELATED PARTY TRANSACTIONS
During the Financial year 2017-18 following payments were made to Related Parties:
|No. ||Name ||Nature of Payment ||Amount |
|1 ||Neelam Rani ||Interest ||1090814.00 |
|2 ||Vijay Kumar ||Interest ||1511707.00 |
|3 ||Tilak Raj ||Interest ||815940.00 |
|4 ||Chakshu Goyal ||Salary ||540000.00 |
|5 ||Deepika Agarwal ||Interest ||1496784.00 |
|6 ||Sahil Aggarwal ||Interest ||1106845.00 |
11. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION
As the company is not a manufacturing company so the conservation of energytechnology absorption clauses is not applicable.
12. FOREIGN EXCHANGE EARNINGS AND OUTGO
During the Financial Year 2017-18 there were foreign exchange payment of Rs.
13. RISK MANAGEMENT
The directors of the company is entrusted with the responsibility of managing andmonitoring the risks if any which in the opinion of the directors may threaten theexistence of the company and can impact the ability to achieve the objectives of thecompany.
14. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS
The Company has adequate internal control procedure commensurate with the size of thecompany and nature of its business.
15. DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)
Mr. Chakshu Goyal was appointed as 'Director during this Financial Year.
Neither any type of deposits of previous year is unpaid or unclaimed during thefinancial year.
17. NAME OF THE COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS SUBSIDIARIES. JOINTVENTURES OR ASSOCIATES COMPANIES DURING THE YEAR
No company have become or ceased to be its Subsidiary Company Joint Venture orAssociate Company during the year.
18. DETAILS OF SUBSIDIARY. JOINT VENTURE OR ASSOCIATES
There is no Subsidiary Joint Venture or Associates of ANMOL INDIA LIMITED
19. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS. COURTS ANDTRIBUNALS
No significant and material order has been passed by the regulators courts tribunalsimpacting the going concern status and Company's operations in future.
20. STATUTORY AUDITORS
M/s. Vikram Maheshwari & Associates Chartered Accountants who were appointed asthe statutory auditors of the company to hold office up to the conclusion of the AnnualGeneral Meeting (AGM) to be held in the year 2022 subject to ratification of theirappointment at every Annual General Meeting and are eligible for re-appointment. Pursuantto the provisions of section 139 of the Companies Act 2013 and the Companies (Audit andAuditors) Rules 2014 it is proposed to ratify appointment of M/s Vikram Maheshwari &Associates as the statutory auditors of the company from the forthcoming Annual GeneralMeeting till the conclusion of the next Annual General Meeting. A certificate from themhas been received to the effect that their re-appointment if made would be within theprescribed limits.
21. BOARD'S COMMENT ON THE AUDITOR'S REPORT
There are no qualifications or adverse remarks in the Auditors' Report which requireany clarification/ explanation. The notes on financial statements are self-explanatoryand need no further explanation.
22. SHARE CAPITAL
There is no change in the share capital of the company.
23. PARTICULARS OF EMPLOYEES
There are 11 (Eleven) employees in the Company.
24. DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act 2013 the Board of Directors of theCompany confirms that-
(a) In the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departure.
(b) The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the Financial Year and ofthe profit and loss of the Company for that period;
(c) The Directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the company and for preventing and detecting fraud and otherirregularities;
(d) The Directors had prepared the annual accounts on a going concern' basis;
(e) The Directors have devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems are adequate and operating effectively.
25. CONTINGENT LIABILITY
There is a Contingent Liability of Rs. 19738060/- as on 31.03.2018 towards the GreenCess Receivable and the case is pending before the Honorable High Court of Delhi.
Your Directors would like to express their sincere appreciation for the assistance andco-operation received from the financial institutions banks Government authoritiescustomers vendors and members during the year under review. Your Directors also wish toplace on record their deep sense of appreciation for the committed services by theCompany's executives staff and workers.
Your company takes this opportunity to thank all the shareholders and investors of thecompany for their continued support.
For and on behalf of the Board of Directors
|Directors Name: Vijay Kumar ||Directors Name: Neelam Rani |
|Designation: Director ||Designation: Director |
|DIN: 00574900 ||DIN:00574938 |
|Place: Guwahati || |
|Date: || |