| Dear Members,
The Directors have great pleasure in presenting the 20th Annual Report
on business and operation of the Company together with the Audited
Accounts for the financial year ended on 31st March 2014.
FINANCIAL RESULTS
[Amount in Rs.]
Particulars Financial Financial
Year Year
2013-14 2012-13
Profit Before Depreciation & Taxation 2,81,716 3,32,297
Depreciation (8,119) (8,947)
Profit/(Loss) before Taxation 2,73,597 3,23,350
Less: Short/Excess Provision of Income 0 1,360
Less: Income tax Provision 45,500 97,000
Net Profit for the year 2,28,097 2,24,990
OPERATIONS:
During the year under review, the Company's total income was Rs.8,
93,871/- as against the previous year income of Rs. 6, 25,415/-. The
Company has made net profit of Rs.2,28,097 /- as against the previous
net profit of Rs. 2,24,990/- after providing depreciation of Rs.8119/-
and provision for taxation (current year) of Rs.45,500/- for the
financial year ended on 31st March, 2014.
DIVIDEND:
The Directors regret their inability to recommend any dividend for the
year in order to conserve the resources of the Company.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis Report for the year under review as
stipulated under Clause 49 of the Listing Agreement with the Stock
Exchange is presented in a separate section forming part of the Annual
Report.
DIRECTORS:
Shri Pankhil Desai and Shri Mayur Desai Director of the Company who
retires by rotation at the ensuing Annual General Meeting, being
eligible and offers him-self for re-appointment.
In terms of the provisions of the Companies Act, 2013 the independent
directors are not liable to retire by rotation. Accordingly the Board
has ascertained the Directors who are liable to retire by rotation
keeping in view the provisions of the Companies Act, 2013. The Board
recommends for their reappointment. The Company has received
declaration from all the independent director of the Company confirming
that they meet with the criteria of independence as prescribed both
under sub section 6 of the Section 149 of the Companies Act 2013 and
under clause 49 of the Listing Agreement with the Stock Exchanges.
AUDITORS AND AUDITOR'S REPORT:
M/s Loonia & Associates, Chartered Accountants, Ahmedabad statutory
Auditors of the Company hold office till the conclusion of the ensuing
Annual General Meeting and are eligible for re-appointment.
The Company has received letter from M/s Loonia & Associates, Chartered
Accountant to the effect that there re-appointment, if made, would be
within the prescribed limits under section 141
(3) (g) of the Companies Act 2013 and that they are not disqualified
for re-appointment.
The notes on financial statements referred to in the auditor's report
are self explanatory and do not call for any further comments.
COMPANY SECRETARY
As per listing agreement, every listed Company should have one whole
time Company Secretary. The Company has appointed Ms. Sanjoly Jalan as
Whole Time Company Secretary of our Company.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Directors of your Company confirm that:
i) in the preparation of the annual accounts for the year ended 31st
March, 2014, the applicable accounting standards read with requirements
set out under Schedule VI of the Companies Act 1956 have been followed
and there are no material departures from the same ;
ii) the Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that were reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company at the end of the financial year and of the profit or
loss of the Company as at 31st March, 2014;
iii) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities;
iv) The Directors have prepared the accounts on a "going concern
basis".
PUBLIC DEPOSIT:
The Company has not accepted any deposit from the public pursuant to
the provisions of Section 58A of the Companies Act, 1956.
LISTING:
The Equity Shares of the Company are listed on Bombay Stock exchange.
The Company is regular in payment of listing fees. The Company has paid
the listing fees for the year 2014 - 2015.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORBTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Information as per Section 217 (1) (e) read with the Companies Act,
1956 read with Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules, 1988 and forming part of the Directors'
Report for the year ended on 31st March 2014.
A. Conservation of Energy:
The Company consumes minor power and hence no details are required to
be disclosed.
B. Technology Absorption NIL
CORPORATE GOVERNANCE:
Pursuant to Clause 49 of the Listing Agreement with the Stock
Exchanges, Corporate Governance Report and Auditor's Certificate
regarding compliance to conditions of corporate governance are made
part of this Annual Report.
DEMATERIALISATION OF SHARES:
The ISIN for the equity shares is INE156M01017. Out of 35,00,000 equity
shares, as on 31st March, 2014 total 25,67,700 equity shares of the
Company have been dematerialized. Members of the company are requested
to dematerialize their shares.
PARTICULARS OF EMPLOYEES:
The statement showing particulars of employees under section 217(2A) of
the Companies Act, 1956, read with the companies (Particulars of
Employees) Rules, 1975, as amended, is not required to be given as
there were no employees coming within the purview of this section.
ACKNOWLEDGEMENT:
Your Directors acknowledge their valuable contribution and appreciate
the co-operation received from the bankers, customers and financial
institutions for their continued assistance and support extended to the
Company.
Your Directors also express their appreciation to all the employees of
the Company for their sustained contribution throughout the period.
Yours Directors wish to thank the shareholders for their continued
support, encouragement and the confidence reposed in the Management.
BY ORDER OF THE BOARD
For, YURANUS INFRASTRUCTURE LIMITED
PLACE: AHMEDABAD
DATE: 01.09.2014
[DINESH DESAI]
MANNAGING DIRECTOR |