| Dear Members,
The Directors have pleasure in presenting their 25th Annual Report and
Accounts for the year ended 31st March 2015.
FINANCIAL RESULTS :
2014-2015 2013-2014
Total Income 745 113900
Total Expenses 445 23805
Net Profit/(Loss) 300 90094
OPERATIONS:
The operations of both tile and slab units were stopped and hence no
depreciation is charged on the assets of the Company.
FINANCIAL PERFORMANCE:
Company's sales including other income for the year under review is Rs.
7.45 Lacs as against Rs.l 139.00 Lacs during the previous year 2013-14.
COMPANY SECRETARY:
Although all possible efforts has been made by the Company to appoint a
qualified Company Secretary the position is still remained vacant. As
such the company does not have any whole-time Company Secretary as per
Section 383(A) of the Company's Act 1956.
DISCLOSURE PARTICULARS :
Information as per the company's (Disclosure of particulars in the
report of Board of Directors) Rules 1988 relating to conservation of
energy, technology absorption, Foreign Exchange earnings and out-go are
given in Annexure-A forming part of this report.
DISCLOSURE AS PER THE LISTING AGREEMENT :
In due compliance of the Clause 32 of the Listing Agreement, the Cash
Flow Statement prepared in accordance with the requirements prescribed
by SEBI is appended with the Annual Report.
DIRECTORS' RESPONSIBILITY STATEMENT
The Board of Directors of the Company confirms :
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed and there has been no material
departure;
2. that the selected accounting policies were applied consistently and
the directors made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company as at March 31, 2015 and of the profit of the Company for
the year ended on that date.
3. that proper and sufficient care has been taken 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;
4. that the annual accounts have been prepared on a going concern
basis.
AUDITORS :
The Terms of Mr. K.R. Shetty, Chartered Accountant, as Auditor of the
Company expires at the conclusion of this Annual General Meeting and he
is eligible for reappointment. He has indicated that if reappointed,
his appointment will be within the limits specified under Section 224(1
)(B) of the Companies Act, 1956.
PARTICULARS OF EMPLOYEES :
Information as per Section 217(2-A) of the Companies Act, 1956 read
with Companies (Particulars of Employees) Rules, 1975 is not applicable
since there is no employee in the Company drawing salary of more than
Rs. 1,00,000 per month.
INDUSTRIAL RELATIONS :
Industrial relations during the year under review continued to be
peaceful.
RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION,CONSERVATION OF ENERGY.
The information required to be furnished in terms of Section 217(1 )(e)
of the Companies Act, 1956 read with the Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 is given
in Annexure to the Director's Report attached to the Balance Sheet as
at 31st March, 2014
ACKNOWLEDGEMENT:
Your Directors are happy to acknowledge the timely assistance extended
to the Company by Financial Institutions and Banks.
Your Directors are also thankful to the various Central and State
Government Officials for their help and support extended during the
year. Your Directors wish to place on record their warm appreciation
for the valuable work done and co-operation extended by the Staff and
Workers at all levels.
By Order of the Board
for YENEPOYA MINERALS & GRANITES LTD.
Place: Jodumarga S\d
Date: 31.07.2015 Y. MOHAMED KUNHI
Chairman | 