| To, The Members,
The Directors are glad to present the Annual Report of the Company and
Audited Accounts along with Auditors Report for the year ended 30th
June, 2012.
FINANCIAL RESULTS
(Rs. in Lacs)
Particulars 2011-12 2010-11
Total Income 67644.89 57902.93
Profit before depreciation, interest and tax 10993.04 8331.07
Less: Depreciation 1281.96 1104.21
Interest 3975.61 2742.79
Profit before tax 5735.47 4484.07
Less: Provision for taxation 1211.40 678.63
Profit after tax 4524.07 3805.44
Earnings Per Share 17.29 14.54
OPERATIONAL REVIEW
We take pride to inform you that, in the span of 7 years by introducing
a Plethora of Products, under 3 brands - "AMAR", "SMILES" and "FRESH
SMILES" in Domestic and International markets and by taking a plunge
into Premium Luxury Cosmetic Products your Company has taken another
upward step towards success and has achieved the Total Income of Rs.
67644.89 Lacs in the year 2011-12 as compared to Rs. 57801.18 Lacs in
previous year 2010-11, thereby reflecting as growth of 16.82% in the
year 2011-12 as compared to previous year 2010-11. The Turnover, PAT
and PBDIT of the Company is also on upward graph and is representing
growth. The Turnover of Rs. 67437.08 Lacs registered in the year 2011-12
as compared to Rs. 57801.18 Lacs in previous year 2010- 11, reflected
growth by 16.67 % compared to previous year. The Company's PAT grew by
18.88 % as compared to previous year. The PBDIT of the Company was on
high rise with an excellent growth by 37.99 % as compared to previous
year.
The uninterrupted success is the result of extended contribution and
co-operation from Consumers, Bankers & Institutions, Distributors,
Super Stockist, C & F Agents, 3 Ultra Modern Plants located 2 at Daman
and 1 at Dehradun, and our Brands.
The management has also given tremendous support to the Company with
their expertise in respective fields which has helped the Company to
grow in this yet another year.
However, the management is of the view that, the economy is expected to
face pressure due to increase in raw material costs, high labor cost
and increased packing material costs, and hence will put in additional
efforts in curtailing the costs to maintain the bottom line.
Skin Care and Hair Care have always been a rage and consumers are
willing to spend more part of their earnings towards luxurious
lifestyle, thereby spending on Premium Cosmetics, SPA treatments and
Personal Care. Our firm, The Nature's Co. has been engaged into
fulfilling consumer demands and has successfully served variety of
consumers with its existing 9 Stores located at Premium Malls. The
upward demand curve and outstanding response from consumers has
motivated The Nature's Co. to launch additional 3 stores in FY 2011-12
- 1 at Bangalore- Phoenix Market City, 2nd at Mumbai - Infinity Mall 2,
Malad and 3rd at Mumbai - R-City Mall, Ghatkopar. Mumbai has always
been a centre for consumers intending to live a luxurious lifestyle,
thus supported by huge consumer demand and high purchasing power, TNC
launched total 3 stores in Mumbai in span of 3 years.
The Nature's Co.(TNC) has used the web to its advantage for not just
branding and promoting but also selling. The Nature's Co. website is
doing excellent online sales and has become a virtual store by itself.
It's Facebook page also has more than 17,000 no of Followers following
each product and activity of TNC extremely closely.
The Nature's Co, during the year launched many Festive Packages like-
Mother's Day Package, Dassehra Package, Diwali Packages and such other
packages for various other festivals and events. All these activities
have helped in increasing the consumer base for our Luxury Cosmetic
brand.
ACHIEVEMENTS
CREDIT RATINGS
During the year 2011-12, the Long Term Credit Rating of the Company
assigned by CARE, was "CARE A" and Short term Rating was PR1.
DIVIDEND
The management of the Company is foreseeing tremendous pressure on
margin due to increasing input cost. The economy slowdown might also
affect expansion, Sales and Profitability. Therefore, the management
has decided to conserve the funds and not declare dividend for the
Financial Year ended 30th June 2012.
CONSOLIDATED FINANCIAL STATEMENTS AND SUBSIDIARY COMPANY
In accordance with the Accounting Standard 21 on Consolidated Financial
Statements issued by Institute of Chartered Accountants of India, your
Directors provide the Audited Consolidated Financial Statements in the
Annual Reports.
Ministry of Corporate affairs, Government of India (MCA) has on 8th
February, 2011 issued directions through general circular, exempting
Holding Companies from attaching specified particulars of its
Subsidiary Companies with Balance Sheet of holding Company. The
directions have been issued by MCA in terms of Section 212(8) of the
Companies Act, 1956.
The annual accounts of the Subsidiary Companies and the related
detailed information shall be made available to shareholders of the
holding subsidiary and Subsidiary Companies seeking such information at
any point of time at the registered office of the Company.
MANAGEMENT DISCUSSION AND ANALYSIS
"Management Discussion and Analysis report" as required under the
Listing Agreements with the Stock Exchanges has been furnished
separately in this Annual Report.
LISTING AT STOCK EXCHANGE
The equity shares of the Company continued to be listed on the Bombay
Stock Exchange and the National Stock Exchange of India Ltd. The Annual
Listing fees for the year (2011-12) have been paid to these Stock
Exchanges.
FIXED DEPOSITS
The Company has not accepted any deposit within the meaning of Section
58A of the Companies Act 1956, from the public during the year under
review.
INSURANCE
The assets of the Company including Buildings, Plant & Machinery,
Stocks, etc. have been adequately insured.
INDUSTRIAL RELATIONS
The Employees and Workmen of the entire Company form basis for the
infinite success of the Company and hence the Directors express their
gratitude towards the dedication, support, enthusiasm, and hard work of
the employees.
PARTICULARS OF EMPLOYEES
None of the employees are getting the remuneration exceeding the Rs. 5.00
Lacs per month hence so disclosures of particulars of employees are not
given.
DIRECTORS
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mr. Pravin N. Shah, Mr. Dilip
S. Mehta and Mrs. Preeti A. Patel, Directors of the Company are liable
to retire by rotation at the ensuing Annual General Meeting and being
eligible have offered themselves for re-appointment.
AUDITORS
M/s. Shyam C. Agrawal & Co., Chartered Accountants, retire as Auditor
of the Company at the conclusion of ensuing Annual General Meeting and
have confirmed their eligibility and willingness to accept the office
of Auditors, if re-appointed. Accordingly, the said Auditors may be
reappointed as Auditors of the Company at the forthcoming Annual
General Meeting.
CORPORATE GOVERNANCE
Pursuant to Clause 49 of the Listing Agreements with the Stock
Exchanges a separate section titled "Corporate Governance" has been
included in this Annual Report.
CONSERVATION OF ENERGY RESOURCES, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO
As required u/s. 217(1)(e) of the Companies Act, 1956, read with the
Companies (Disclosure of particulars in report of Board of Directors)
Rules, 1988, the particulars in respect of conservation of Energy
Resources, Technology Absorption and Foreign Exchange Earnings & Outgo
are set out in the Annexure I to the Directors' Report.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to provisions of section 217(2AA) of the Companies Act, 1956
your Directors confirm that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed, along-with proper explanation to material
departure, wherever applicable;
ii) The Directors have selected such accounting policies and applied
them consistently and made judgments and estimatetsh that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company as at 30 June, 2012 and of the profit for the
year ended on that date;
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 annual accounts for the financial
year ended 30th June, 2012 on a going concern basis.
ACKNOWLEDGEMENTS
The Board of Directors would like to thank and appreciate all its
Employees who have contributed towards the success of the Company. The
Directors are also grateful to the Government, Statutory Authorities,
Shareholders, Banking & Financial institutions, Consumers, Suppliers
and Business Associates for their support and co-operation put forth
for the Company's excellent growth.
BY ORDER OF THE BOARD OF DIRECTORS
FOR AMAR REMEDIES LIMITED
SD/-
PLACE : MUMBAI SAGAR P. SHAH
DATE : 28th NOVEMBER, 2012 MANAGING DIRECTOR
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