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J. K. Investo Trade (India) Ltd.

BSE: 506515 Sector: Financials
NSE: N.A. ISIN Code: INE361G01015
BSE 05:30 | 01 Jan J. K. Investo Trade (India) Ltd
NSE 05:30 | 01 Jan J. K. Investo Trade (India) Ltd

J. K. Investo Trade (India) Ltd. (JKINVESTOTR) - Director Report

Company director report

DIRECTORS

Your Directors are pleased to present the 66th Annual Report together withthe audited financial statements of the Company for the year ended 31" March 2014.

FINANCIAL RESULTS

Rs. in Lacs

Year ended 31.3.2014 Year ended 31.3.2013
Income during the year 739.60 781.70
Depreciation 0.42 0.42
Provision for taxation 31.12 30.83
Profit after Tax 589.64 665.14
Profit brought forward 3002.01 2469.90
Transfer to Statutory Reserve Fund under RBI Act 117.93 133.03
Profit as per Balance Sheet 3473.72 3002.01

JOINT VENTURE COMPANY

During the year under reviewthe total revenue of jointventure company J. K.AnsellLimited was Rs. 16448.38 lacs (Previous year Rs. 14586.44 lacs). TheprofitaftertaxwasRs.1130.35 lacs (PreviousyearRs. 1192.16 lacs).

SUBSIDIARY

As required under Section 212 of the Companies Act 1956 the audited financialstatements along with the report of the Board of Directors and Auditors' Reportthereon ofthe wholly owned subsidiary J. K.Helene Curtis Limited fortheyear ended on 3f March2014 are annexed.

During the year under review the total revenue of wholly owned subsidiary J. K.Helene Curtis Limited was Rs. 29437.47 lacs (Previous year 25256.43 lacs). The profitafter tax was Rs. 1983.77 lacs (Previous year Rs. 2240.73 lacs). During the year underreview J. K. Helene Curtis Limited had incorporated "JKHC International (FZE)"as its Wholly-owned Subsidiary in United Arab Emirates.

E-VOTING FACILITY

The Company will offer e-voting facility as an alternate to its Members enabling themto cast their votes electronically at the general meetings or whenever the Company isrequired or decides to pass any resolution by way of postal ballot. E-voting is optional.

ACCOUNTING STANDARDS

The accounts have been prepared as perthe applicable Accounting Standards and necessarydisclosures have been made in the annual accounts.

DIRECTORS' RESPONSIBILITY STATEMENT

Your Directors state that:

i. in preparation of the annual accounts the applicable accounting standards have beenfollowed along with proper explanation relating to material departures if any;

ii. the Directors have selected such accounting policies and applied them consistentlyand made judgements and estimates that are reasonable and prudent so as to give a true andfairview of the state of affairs of the Company at the end of the financial year and ofthe profitor loss of the company for that period;

iii. the Directors have 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;

iv. the annual accounts have been prepared on a going concern basis.

PARTICULARS OF ENERGY CONSERVATION TECHNOLOGY ABSORPTION ETC.

Information pursuant to Section 217(1 )(e) of the Companies Act 1956 is notapplicable.

PERSONNEL

There is no employee whose particulars are required to be furnished under Section217(2A) of the Companies Act1956.

PUBLIC DEPOSIT

The Company has not accepted any depositfrom the public during the year under review.

DIRECTORS

Shri Gautam Hari Singhania Directorof the Company has been appointed as Chairman ofthe Board of Directors of the Company w.e.f. May 292013 in placeof Dr.VijaypatSinghania.

Shri R. K. Ganeriwala Whole-time Director of the Company has resigned as Whole-timeDirector with effect from April 12014. He will continue to remain as Non-ExecutiveDirector of the Company liable to retire by rotation.

Shri Nabankur Gupta retires by rotation atthe ensuing Annual General Meeting andbeing eligible offers himself for re-appointment.

AUDITORS

Your Company's Auditors Messrs Lodha & Company Chartered Accountants hold officeuntil the conclusion of the ensuing Annual General Meeting and are eligible forre-appointment. You are requested to appointAuditors and fix their remuneration.

ACKNOWLEDGEMENTS

Your Directors would like to express their sincere appreciation of the co-operation andassistance received from the shareholders bankers regulatory bodies and other businessconstituents during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for thecommitment displayed by all executives officers and staff during the year.

Place : Mumbai For and on behalf of the Board
Dated : 28th April 2014 Gautam Hari Singhania
Chairman