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Pagaria Energy Ltd.

BSE: 531396 Sector: IT
NSE: N.A. ISIN Code: INE905B01010
BSE 00:00 | 11 Mar Pagaria Energy Ltd
NSE 05:30 | 01 Jan Pagaria Energy Ltd
OPEN 1.17
PREVIOUS CLOSE 1.17
VOLUME 1
52-Week high 3.83
52-Week low 1.17
P/E 23.40
Mkt Cap.(Rs cr) 1
Buy Price 1.25
Buy Qty 50.00
Sell Price 1.23
Sell Qty 5993.00
OPEN 1.17
CLOSE 1.17
VOLUME 1
52-Week high 3.83
52-Week low 1.17
P/E 23.40
Mkt Cap.(Rs cr) 1
Buy Price 1.25
Buy Qty 50.00
Sell Price 1.23
Sell Qty 5993.00

Pagaria Energy Ltd. (PAGARIAENERGY) - Director Report

Company director report

Dear Shareholders

Your Directors a replaced to present Twenty Eight Annual Report together with AuditedFinancial Statements for the financial year ending 31st March 2019.

FINANCIAL RESULTS

The Financial Results for the year under review are given below:

(Rs. In Lacs)
Year ended Year ended
Particulars 31.03.2019 31.03.2018
Total Revenue 86.00 125.88
Profit before tax 2.95 3.57
Less : Provision for Taxation
Current Tax 0.84 1.33
Earlier Year Tax 0.00 0.05
Deferred Tax (0.08) (0.50)
Profit after tax 2.19 2.69

PERFORMANCE

The total revenue for the financial year under review is Rs. 86 Lacs against Rs.125.88 Lacs in previous year. During the year the Company has earned Profit after Taxof Rs.2.19 Lacs in comparison to the previous year Profit after Tax of Rs. 2.69Lacs. The directors are hopeful for better performance in the ensuing years.

STATE OF THE COMPANY'S AFFAIRS

The Company is engaged in the business of Trading of coal. There has been no Change inthe nature of the business of the Company during the financial year ended on 31st March2019

DIVIDEND

In order to strengthen the financial position of the company the Board of Directorshave decided not to recommend any dividend for the Financial Year ended 31st March2019 and plough back the profits of the company in its business.

TRANSFER TO RESERVE

The company does not propose to transfer any amount to reserve.

WEBSITE OF THE COMPANY

The Company maintains a website www.pagariaenergy.com

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the articles of the Company and the provisions of the Companies Act2013 Mr. Ranjit Singh Pagaria will retire by rotation at the ensuing Annual GeneralMeeting and being eligible offer himself for re-appointment on the Board of your Company.Your Directors recommend his re-appointment.

MEETINGS OF THE BOARD OF DIRECTORS

The Board of Directors duly met 6 times during financial year 2018-19. The date onwhich meetings were held are as follows: 30th May 2018; 14thAugust 2018; 11th September 2018; 05th November2018; 14thFebruary 2019 and 22nd March 2019.

EXTRACT OF ANNUAL RETURN

The Extracts of the Annual Return for the financial Year 2018-19 as stipulated in Form- MGT-9 pursuant to sub-section 3 of section 92 of the Companies Act 2013 and subrule 1 of rule 12 of the Companies (Management and Administration) Rules 2014 is given inAnnexure I which forms part of this Report

AUDIT COMMITTEE

The Composition and terms of reference of the Audit Committee has been furnished in theCorporate Governance Report forming part of this Annual Report. There has been no instancewhere the Board has not accepted the recommendations of the Audit Committee.

INDEPENDENT DIRECTOR'S DECLARATION

The Company has received necessary declaration from all Independent Directors inaccordance with section 149(7) of the Companies Act 2013 that they meet the criteria ofindependence as laid down in section 149(6) of the Companies Act 2013 and the SEBI(Listing Obligation and Disclosure Requirements) Regulations 2015.

ANNUAL EVALUATION OF BOARD'S PERFORMANCE

According to Regulation 25 of SEBI (Listing Obligation and Disclosures Requirement)Regulations 2015 and Schedule IV of the companies Act 2013 a meeting of the IndependentDirectors is required to be held to review the performance of the Non- IndependentDirectors and the Board as a whole. Accordingly a separate meeting of IndependentDirectors was held on 31st March 2019 wherein the performance of the Non-ExecutiveDirectors and the Boards as a whole was evaluated.

LISTING OF SHARES

Your Company is listed with Delhi Stock Exchange and Bombay Stock Exchange and theCompany has paid the listing fees.

SUBSIDIARY/ASSOCIATES/JOINT VENTURE COMPANIES

The Company does not have any subsidiary/associate/joint venture company for the yearended 31stMarch 2019.

STATUTORY AUDITORS

The Statutory Auditors of the Company M/s H.R. AGARWAL & ASSOCIATESChartered Accountants (Firm Registration No. 323029E) hold office till the conclusion ofthe 28th Annual General Meeting of the company. The Board has recommended thereappointment of the firm for a further term of four consecutive years from theconclusion of the 28th Annual General Meeting till the conclusion of the 32ndAnnual General Meeting for approval of the Shareholders as per the provisions of Section139 of the Companies Act.

The observations of the Auditors as referred to in the Auditor's Report are suitablyexplained in the notes to the account.

SECRETARIAL AUDITOR

The Board of Directors of the Company had appointed M/s. M R & Associates afirm of Company Secretaries pursuant to the provisions of Section 204 of the CompaniesAct 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 for undertaking the secretarial audit of the company for the financial year ended2018-19. The Secretarial Audit Report in Form MR-3 given by the Secretarial Auditoris given in Annexure II which forms a part of this report

COMPLIANCE WITH THE ACCOUNTING STANDARDS

The Company prepares its accounts and other financial statements in accordance with therelevant accounting principles and also complies with the accounting standards issued bythe Institute of Chartered Accountants of India.

CORPORATE GOVERNANCE

In accordance with the SEBI (LODR) Regulation 2015 the Corporate Governance Reportand Auditor's Certificate regarding compliance of conditions of Corporate Governance isannexed h e r e t o .

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

Your Company is committed to provide and promote safe healthy and congenial atmosphereirrespective of gender caste creed or social class of the employees. No cases have beenfiled under the Act as the Company is keeping the working environment healthy.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Companies Act 2 0 1 3 the Board of Directors of theCompany hereby state and confirm that

I. In the preparation of the annual accounts for the year ended March 31 2019 theapplicable accounting standards have been followed along with proper explanation relatingto material departures.

II. The directors have selected such accounting policies and applied then 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 31stMarch 2019 and of the Profit of the Company for the year ended on that date.

III. The directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of those Acts forsafeguarding the assets of the company and for preventing and detecting fraud and otherirregularities.

IV. The annual accounts have prepared on a going concern basis.

V. The Directors have laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and are operatingeffectively; and

VI. The Directors have devised proper systems to ensure compliance with the provisionsof all applicable Laws and that such systems are adequate and operating effectively.

PUBLIC DEPOSITS

During the year your Company has not accepted any deposits from the public within themeaning of Section 73 of the Companies Act 2013 and the rule made there under.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS

The Company has not given any loans guarantees or made any investments exceeding sixtyper cent of its paid up share capital and free reserves including Securities PremiumAccount or one hundred per cent of its free reserves including securities premium Accountwhich is more as prescribed in Section 186 of the Companies Act 2013

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.

RELATED PARTY TRANSACTIONS

During the financial year ended 31st March 2019 the Company has not enteredin to any transactions with the related party in accordance with section 188 of theCompanies Act 2013. Therefore the requirement of disclosure is not required to be madeto the related party transaction in Form AOC-2.

PARTICULARS OF EMPLOYEES

None of the employees of the Company was in receipt of remuneration exceeding thelimits prescribed under section 134 of the Companies Act 2013.

ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

The Company has in place adequate internal financial controls with reference tofinancial statements. During the year under review such controls were tested and noreportable material weakness in the design or operation was observed.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO

As required under Section 134(3) (m) of the Companies Act 2013 read with rules madethere under the information relating Conservation of Energy Technology Absorption andForeign Exchange Earning & Outgo is given in Annexure III. This forms a part ofthis Report.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THEREGULATORS 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.

MAINTENANCE OF COST RECORDS AS SPECIFIED BY THE CENTRAL GOVERNMENT UNDER SUB-SECTION(1) OF SECTION 148 OF THE COMPANIES ACT 2013.

The Company is not required to maintain any cost records as specified by the CentralGovernment under sub-section (1) of section 148 of Companies Act 2013.

ACKNOWLEDGEMENT

Your Directors would like to place on record their appreciation for the assistanceco-operation and whole-hearted support received from Company's bankers advisorscustomers and investors and all whose continued support has been a source of strength tothe Company. Your Directors place on record their appreciation for the valuablecontribution made by employees at all levels.

On behalf of the Board
Place: Delhi Rajesh Kumar Pagaria Ranjit Singh Pagaria
Date: May 22 2019 Managing Director Director