| To, The Members of Fact Enterprise Limited
The Directors are pleased to present the 19th Annual Report together
with the Audited Accounts for the year ended 31st March 2012.
I. FINANCIAL HIGHLIGHTS:
Particulars Year ended
31-3-2012 Year ended
31-3-2011
(Rs. in Lacs)
(Rs. in Lacs)
Turnover 19.92 34.59
Profit before Interest,
Depreciation and
1.84 2.56
Tax
Less:
(i) Interest: 0.66 1.22
(ii) Depreciation 0.24 0.24
Profit after Interest and
Depreciation 0.94 1.10
Profit before Taxation 0.94 1.10
Provision for Taxation (after
adjustment .ft . ft .
of deferred Tax)
Profit after Tax 1.43 1.07
Add: Amount brought Forward from 34.19 33.12
last year
Amount Available for Appropriation 35.62 34.19
Less: Appropriations:
Amount Transferred to General Reserve 0.00 0.00
Interim Dividend / Proposed Dividend 0.00 0.00
Provision for tax on proposed Dividend 0.00 0.00
Balance carried to Balance Sheet 35.62 34.19
II FINANCIAL PERFORMANCE AS A MEASURE OF OPERATIONAL PERFORMANCE:
In this challenging environment & recession your Company has managed to
post profits in the financial year 2011 2012. Following table depicts
the financial performance of the Company in brief:
Particulars AS ON AS ON
31-3-2012 31-3-2011
(Rs. In Lacs) (Rs. In Lacs).
Working Capital 508.24 29907.65
Total Income 19.92 34.59
Net Profit After Tax 1.43 1.07
III DIVIDEND
To conserve the resources, your directors do not recommend the dividend
on equity shares.
IV DIRECTORS RESPONSIBILITY STATEMENT:
As required under Section 217(2AA) of the Companies Act 1956 your
Directors confirm that:
(i) In the preparation of annual accounts, the applicable accounting
standards have been followed.
(ii) The Directors had selected such accounting policies and applied
them consistently and 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 at the end of the financial year 2011 2012 and of the
profit & loss of the Company for the period ended 31st March, 2012.
(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 on going concern
basis.
V DIRECTORS:
In accordance with the provisions of the Companies Act' 1956 and
Articles of Association of the Company, Mr. Praful Rane retires by
rotation and being eligible, offers himself for reappointment.
VI AUDITORS:
M/s M.V. Dave & Co, Chartered Accountants, retire as the Auditors of
your Company at the forthcoming Annual General Meeting and being,
eligible, offer themselves for reappointment. The Company has received
an eligibility certificate from the said M.V. Dave & Co, Chartered
Accountants under section 224(1) of the Companies Act 1956.
VII. AUDITORS' REPORT:
Observations made in the Auditors Report are self explanatory and
therefore do not call for comments under Section 217(3) of the
Companies Act 1956.
VIII CORPORATE GOVERNANCE:
A separate report on Corporate Governance is furnished as a part of the
Directors' Report and a certificate from the Auditors regarding the
compliance of the conditions of Corporate Governance is annexed to the
said Report.
IX FIXED DEPOSIT:
During the year under review, your Company has not invited any deposit
from the public.
X PARTICULARS OF EMPLOYEES:
Your Company does not have any employee whose particulars are to be
given pursuant to the provisions of section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees Rules,
1975).
XII ADDITIONAL INFORMATION:
Information pursuant to 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 furnished hereunder
A. CONSERVATION OF ENERGY:
Your Company is regularly finding out the areas from where the energy
can be conserved. As your Company is basically in construction of
building so there is no power and fuel requirement as such.
B. TECHNOLOGY ABSORPTION:
Your Company is regularly finding out ways used in the process of
adoption of new technology in the construction of building.
C. ENVIRONMENT:
Your Company is not involved in any type of activity hazardous to the
environment and does not discharge any type of trade effluents (solid,
liquid or gaseous) causing pollution.
D. FOREIGN EXCHANGE EARNING & OUTGO:
There were no foreign exchange earnings or outgo by way of either
imports, exports or expenses during the year.
XIII ACKNOWLEDGEMENT:
The Board of Directors wishes to place on record their sincere
appreciation and acknowledges with gratitude to the companies valued
clients, Bankers, Securities Exchange Board of India and the Share
holders for their continued co operation and support. The Directors
also wish to place on record their sincere appreciation of the Company
employees at all levels for their sincere efforts and commitment in
their duties without which the results achieved by your Company would
not have been possible and look forward to their continued support.
For and on behalf of Board
Sd/
Mumbai Mr. RAJIV KASHYAP
DATED: 2nd September 2012 CHAIRMAN & MANAGING DIRECTOR | 