Kedia Chemical Industries Ltd.
||Sector: Agri and agri inputs
||ISIN Code: INE514D01016
05:30 | 01 Jan
Kedia Chemical Industries Ltd
05:30 | 01 Jan
Kedia Chemical Industries Ltd
Kedia Chemical Industries Ltd. (KEDIACHEMICAL) - Director Report
Company director report
KEDIA CHEMICALS INDUSTRIES LIMITED
ANNUAL REPORT 2005-2006
The Directors hereby present the 30th Annual Report together with the
Audited Statement of Accounts for the period ended 30th June, 2006.
1. FINANCIAL RESULTS: (Rs. in Lakhs)
Particulars 2005-2006 2004-2005
(12 months) (15 months)
Profit (Loss) before Depreciation 6.41 465.64
Less: Depreciation 0.53 32.16
Profit (Loss) before Tax but after 5.88 433.47
Add extra Ordinary Items - -
Loss on Sale of Assets 178.83 - -
Less: Profit period adjustments - (178.83) (351.89)
Add: Prior period adjustments (9.58) (30.89)
Add: Loss brought from the (1171.34) (1222.03)
Balance carried to Balance Sheet (1353.87) (1171.34)
As the accumulated losses have resulted in a net loss for the year under
review, no Dividend is being recommended.
3. OPERATION & FUTURE STRATEGY:
During the year Company has disposed off its plants and machinery along
with the land and building and therefore suspended its manufacturing
activities. The Company is in the process of venturing in to New Business
Avenue. During the year the Company has entered into OTS with Bank. The
Management during the year has decided to suspend its business activities
and shift its manufacturing activities towards backward area to save the
cost and avail benefit under various scheme of the Government. It has
affected concept of 'Going Concern'.
4. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNING AND OUTGO:
During the year, as there was no manufacturing activities this is not
5. PARTICULARS OF EMPLOYEES:
The Company has no employees during the year; hence Section 217 (2A) of the
company Act, 1956 is not applicable
During the year under review, there has been no change in the Board of
8. DIRECTORS RESPONSIBILITY STATEMENT:
To the best of our knowledge and belief and according to the information
and explanation obtained by us, we directors make the following statement
in terms of Section 217 (2AA) of the Companies Act, 1956.
a. Preparation of the Annual accounts for the period ended 30th June, 2006
the applicable accounting standards have been followed along with proper
explanation relating to the material departures, if any.
b. That such accounting policies as mentioned in Schedule 'P' of the Annual
Accounts have been selected and supplied consistently and judgements and
estimates that are reasonable and prudent made so as to give a true and
fair view of the state of affairs of the Company as the end of the
financial period ended 30th June, 2006 and of the loss of your Company for
c. That proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with provision of the Companies
Act, 1956 for safe guarding the assets of your company and for preventing
and detecting fraud and other irregularities.
d. That the Annual Accounts for the period ended 30th June, 2006 has been
prepared on a going concern basis.
9. FIXED DEPOSITS:
Fixed Deposits from the Public and Shareholders stood at Rs . Nil at the
end of period ended.
As required under Public Liability Insurance Act, 1991 the Company has
taken necessary insurance cover.
11. CORPORATE GOVERNANCE:-
A separate Report on Corporate Governance is produced as a part of this
Annual Report along with the Auditor's Statement on its compliance , as
prescribed under the amended Listing Agreement of the Stock Exchanges with
which your company is listed.
The Auditors who retires at the ensuing Annual General Meeting of the
Company. The Board recommends the re-appointment of Auditors to hold this
Annual General Meeting till the conclusion of next Annual General Meeting
of the Company.
Pushpkant M. Kedia
Chairman & Managing Director
Date : 2nd December, 2006
Particulars pursuant to Section 217(1)(e) of the Companies Act, 1956 read
with the Companies (Disclosure of Particulars in the report of the Board of
Directors) Rule, 1988 and forming part of the Director's Report for the
period ended 30th June, 2006
1. Conservation of Energy: NIL
(The company has suspended his manufacturing activities during the period)
2) Power of Fuel Consumption:
Electricity purchased Units Total Amount Rate / per unit
Consumption per unit of production:
Power and Fuel Consumption per unit of production in Rs. NIL power Rs. NIL
The records and the books maintained by the company are in accordance with
the provisions of the Companies Act, 1956.
1. Technology Absorption : Not Applicable
2. Foreign Exchange earnings and outgo : NIL
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