| The Directors have pleasure in presenting the 29th Annual Report of
the Company for the year ended 31st March, 2013.
WORKING RESULTS:
The comparative results for the year and those of previous year are
summarised below :
2012-2013 2011-2012
1. Operating Profit/Loss before
Interest & 8098927.31 4704428.73
Depreciation.
2. Less: Interest
3. Profit/Loss before Depreciation 8098927.31 4704428.73
4. Less Depreciation 923654.77 941547.16
5. Profit/Loss after Depreciation
and Interest 7175272.54 3762881.57
6. Add : Provision for Deferred
Tax Liability 680778.88 139483.33
7. Less : Provision for Taxation (3100000.00) 1350000.00
8. Net profit/Loss after Taxation 4756051.42 2552364.90
9. Adjustment relating to previous
year & Taxation
10. Loss/Profit available for
appropriation
11 Transfer to General Reserve 237800.00
12. Less Dividend 1200000.00 800000.00
13. Less Dividend Tax 194670.00 129780.00
14. Balance Carried over 3123581.42 1622584.90
DIVIDEND :
Your Directors are recommending a Dividend @ 15% i.e. 1.50 per share
subject to approval in the ensuing Annual General Meeting.
PERFORMANCE: During the year under report despite stiff competition in
the domestic as well as overseas market, the sales of your Company have
increased marginally to Rs.568.43 lacs as against Rs. 563.13 lacs
during the previous years. However, the Company has been able to earn a
Net profit of Rs.71.75 lacs as against Rs. 37.62 lacs during the
previous year after changing intervation Depreciation.
FUTURE PROSPECTS:
Your Directors are happy to announce that the Company after getting ISO
9001:2008,13485 Certificate is maintaining the spirit of total quality
management and is earning more by reducing rejections and failures. We
hope to have more business and growth for the time to come.
DIRECTORS : Dr. Prem Nath Director retires by Rotation at this Annual
General Meeting and being eligible offers himself for reappointment.
DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to the requirement under section 217(2AA) of the Companies
Act, 1956 on the Directors'
Responsibility Statement, it is hereby confirmed:
That in the preparation of the Annual Accounts, the applicable
accounting standards had been followed along with proper explanations
relating to material departures;
That the Directors selected such accounting Policies and applied them
consistently and made judgement and estimates that are 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 for that period. "
That the Directors took proper and sufficient care to maintain adequate
accounting records in accordance with the provisions of this Act, to
safeguard the assets of the Company and to prevent and detect fraud and
other irregularities. Ý*" That the directors prepared the annual
accounts on a going concern basis. AUDITORS : M/s A.Kay Mehra & Co.,
Chartered Accountants, retire at this Annual General meeting and being
eligible offer themselves for re-appointment. Compliance certificate:
Provision to Sec. 383Aof the Companies Act. 1956, Compliance
certificate obtained from a practicing company secretary is enclosed.
INDUSTRIAL RELATIONS:
Directors are pleased to record their deep appreciation for the efforts
put in and co-operation extended by the employees at each level. A
spirit of team work and cordial relations existed throughout the year.
ACKNOWLEDGEMENT:
Your Directors wish to place on record their sincere appreciation for
the continued support and accommodation extended by its bankers viz
Punjab National Bank through out the year.
Place : New Delhi On behalf of the Board of Directors
Dated : 01.09.2013 Sd/-
Dr. A.R. SABHARWAL
(Chairman) | 