| Dear Members,
The Directors have pleasure in presenting the 25 th Annual Report with
Audited Statement of Accounts of the Company for the year ended 31st
March, 2014.
Financial Results:
Financial results of the Company for the year under review are
summarized as below:
(Rs. In Lacs)
Particulars Year Ended Year Ended
31.03.2014 31.03.2013
Sales & Other Income 138.65 247.08
Profit before Depreciation & Tax 2.63 62.94
Depreciation 2.22 2.82
Profit/ (Loss) Before Tax 0.41 60.12
Provision for Tax - Current - -
- Earlier Year Tax
Profit/(Loss) after Tax 0.41 60.12
Profit/(Losses) Brought Forward from
Previous Year (574.30) (634.43)
Profit/(Losses) Carried to Balance Sheet 0.41 (574.31)
Performance Review:
During the year under review, your Company has achieved Revenue of Rs
138.65 Lacs as comp ared to Rs. 247.08 Lacs in the previous year. Net
Profit is Rs 0.41 Lacs as compared to Net Profit of Rs. 60.12 Lacs in
the previous year. Your Directors are exploring the possibilities in
new opportunities.
Auditors:
M/s. P.C.Bindal & Co., Chartered Accountants, the Auditors of the
Company retires at the forthcoming Annual General Meeting ' and
eligible for re-appointment. The Audit Committee and your Board
recommend their reappointment as Auditors of the Company. The Company
has received letter from them to the effect that their appointment, if
made would be within prescribed limit under the provisions of the
Companies Act.
Auditors' Report:
The notes to accounts appearing in the schedule and referred to in the
Auditors' Report are self explanatory and therefore do not call for any
further explanation under Section 217(3) of the Companies Act 1956.
Dematerialization of Share:
As the members are aware, your company's shares are tradable
compulsorily in electronic form. Accordingly, your company has
established connectivity with both the depositories i.e. National
Securities Depository Lt). (NSDL) and Central Depository Services
(India) Ltd. (CDSL). Members may avail the facility of
dematerialization of company's shares on either of the Depositories as
aforesaid.
Directors' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, with respect
to Directors' Responsibility Statement, it is hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
31st March, 2014, the applicable accounting standards have been
followed along with proper explanation relating to material departures.
ii) That 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 st ate
of affairs of the Company at the end of the financial year and of the
profit or loss of the Company for the year under review.
iii) That 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) That the Directors have prepared the accounts for the financial
year ended 31st March 2014 on 'going concern' basis.
Personnel:
Relations with the employees continued to be cordial throughout the
year. Your directors wish to place on record their deep appreciation of
the dedicated and efficient services rendered by the staff and work
force of the Company.
Your Company has no employee drawing remuneration as prescribed under
section 217 (2A) of the Companies Act, 1956 during the year under
review.
Conservation of Energy, research and development technology absorption,
foreign exchange earnings and outgo: Particulars regarding conservation
of energy, technology absorption, foreign exchange, earning and outgo
Information as required under section 217 (1) (e) of the Comianies Act,
1956 read with the Companies (Disclosure of particulars in the report
of the board of Directors) Rules, 1988 for forming pirt of the
Directors Report for the financial year ended 31st March, 2014 is as
follows
1. Conservation of Energy
a. Energy conservation measures taken Not Applicable
b. Additional investment & proposals,
if any being implemented. Not Applicable
c. Impact of measures of a & b above for
reduction of energy consumption and Not applicable
consequent impact on cost of production.
d. Total energy consumption and energy
consumption Per unit of production as Not Applicable
perform 'A' of the Annexure in respect of industries specified in the
schedule thereto.
2. Technology Absorption
(i) Research and Development (R&D)
1. Specific area in which R & D is carried by the Company The Company
is conducting R & D to make its business more effective.
2. Benefits derived as a result of the above R &D The awareness of
services for the benefit of the investor/customers has increased.
3. Future plan of action The Company would continue R & Ds for more
customer awareness.
4. Expenditure on R & D The Company has not undertaken any major
expenditure on R & D
i) Capital
ii) Recurring
Total R&D Expenditure as a percentage of total turnover
(ii) Technology Absorption, Adaptation and Innovation
1. Efforts in brief, made through towards technology
absorption, adaptation and innovation Not Applicable
2. Benefits derived as a result of the above efforts,
e.g. product improvement, cost reduction, product Not Applicable
development, import substitution etc.
3. Information regarding imported technology
(a) Technology Imported None
(b) Year of Import Not Applicable
(c) Has the technology been fully absorbed Not Applicable
(d) It not fully absorbed, areas where this has
not taken place, reasons therefore and
future plans of action Not Applicable
Corporate Governance:
A report on Corporate Governance appears in this Annual Report. A
certificate from Statutory Auditors M/s. P.C. Bindal & Co., Chartered
Accountants, with regard to Compliance of the Corporate Governance code
by your Comp any is annexed hereto as Annexure and forms part of this
report.
Acknowledgements;
Your Directors take this opportunity to offer their sincere thanks to
the bankers of the Company, business associates, vendors, shareholders
and esteemed clients for their unstinted support and assistance and
look forward to the same in the times ahead.
For and On Behalf of the Board
For KOA TOOLS INDIA LIMITED
(V.K.MITTAL)
Place: Noida Chairman cum Managing Director
Dated : 29.08.2014 DIN: 00814649 | 