Your Directors have pleasure in presenting the 28 Annual Report on the workingof the Company along with the audited Balance Sheet and Profit & Loss Account for theyear ended 31 March 2017. the previous year as Rs. 56.70 lakhs and Rs.13.13 lakhsrespectively.
CHANGES IN NATURE OF BUSINESS
There is no significant change in the business activity of the company during thefinancial year although the sale of rubberized coir has been stopped by your company awhile ago in the previous years.
|Particulars ||2016-2017 ||2015-2016 |
|Total Income ||4586220 ||5670000 |
|Less : Depreciation ||466630 ||568576 |
|Profit after depreciation but before tax (PBT) ||2191956 ||2190755 |
|Less : Taxes ||328761 ||0 |
|Net profit / (loss) for the period ||1396566 ||1313073 |
|No. of Shares ||7359200 ||7359200 |
|EPS ||0.19 ||0.18 |
|Proposed Dividend ||0 ||0 |
|Dividend tax ||0 ||0 |
|Balance of Profit Carried to B/S ||1396566 ||1313073 |
No dividend has been recommended for the year.
TRANSFER TO RESERVES IN TERMS OF SECTION 134 (3) (J) OF THE COMPANIES ACT 2013
The board does not propose any amount to carry to any specific reserves.
OPERATIONS AND STATE OF COMPANY'SAFFAIRS
During the year under review your company had made a turnover of Rs.45.86 lakhs andresulting Net profit of Rs.13.96 lakhs as compared with
MATERIAL CHANGES AND COMMITMENTS OCCURRED BETWEEN THE DATE OF BALANCE SHEET AND THEDATE OF AUDIT REPORT
No significant material changes and commitments have occurred between the date of thebalance sheet and the date of this report.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS/ COURTS / TRIBUNALS
There are no significant and material orders passed by Regulators/Court/Tribunalsagainst the company.
ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS
The Company has in place proper and adequate internal control systems commensurate withthe nature of its business size and complexity of its operations. Internal controlsystems comprising of policies and procedures are designed to ensure liability offinancial reporting timely feedback on achievement of operational and strategic goalscompliance with policies procedure applicable laws and regulations and that all assetsand resources are acquired & economically used.
The Company is planning to start new business which will present good market protectiveand for which it has augmented its core team. All development in this aspect shall beplaced for the information of the shareholders through the Stock Exchange filing systemand the Company website as and when it happens.
Subsidiaries / Joint Ventures
There are no subsidiaries and Joint venture Companies.
CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
A.CONSERVATION OF ENERGY AND TECHNOLOGYABSORPTION
Energy conservation is being given top priority and the Company monitors the energycosts and reviews the consumption of energy on a regular basis.
B. FOREIGN EXCHANGE EARNING AND OUTGO
There was no foreign exchange expenses and income during the year.