| To The Members Gujarat Bulk Packs Ltd Ahmedabad, Gujarat.
The Directors have pleasure in presenting before you the 20th ANNUAL
REPORT of the Company together with the Audited Statement of Accounts
for the year ended 31st March, 2011
FINANCIAL RESULTS
(Rs. In Lacs)
PARTICULARS 31/03/2011 31/03/2010
Sales & Other Income 0.00 0.00
Profit (Loss) Before Taxation (141.39) (5.11)
Provision for Taxation including
deferred tax NIL NIL
Profit (Loss) After Taxation (141.39) (5.11)
Profit (Loss) Brought forward from
previous year (170.42) (165.31)
Balance Carried to Balance Sheet (311.81) (170.42)
OPERATIONAL HIGHLIGHTS
Due to the performance of the Company during the Period under review
was not as projected, however Directors are confident of posting the
higher of growth in the operation in the coming years, thereby
recovering the losses incurred in the previous years.
DIVIDEND
In view of losses, your directors do not recommend payment of any
dividend to the shareholder.
DIRECTORS
Mr. UmeshDutt Mathur, Director of the Company retires by rotation at
this Annual General Meeting and being eligible, offers himself for
re-appointment.
AUDITORS
M/s. D. V. Dave & Co, Chartered Accountants, Ahmedabad, the Auditors of
the Company retire at the conclusion of this Annual General Meeting.
They are eligible for reappointment and indicated their willingness to
act as an Auditor, if appointed and the appointment shall be in the
limits prescribed under the provision of the Companies Act, 1956.
PARTICULARS OF EMPLOYEES
There was no employee in the Company whose particulars are required to
be furnished as per section 217 (2A) of the Companies Act, 1956, read
with Companies (Particulars of Employees) Rules, 1975 as amended up to
date.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING/OUTGO.
The information under section 217(1) (e) of the Companies Act, 1956 on
Conservation of Energy, Technology Absorption as required to be
disclosed is not applicable to the company during the year under review
the Company has no foreign exchange earnings and outgo.
DIRECTORS' RESPONSIBILITY STATEMENT
Your Directors hereby report that:
(a) in the preparation of annual accounts, the applicable accounting
standards have been followed;
(b) Appropriate accounting policies have been selected and applied
consistently and judgements and estimates made that are responsible and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of the financial year ended 31st March 2011
(c) 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:
(d) Annual accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE AND COMPLIANCE
A report on corporate governance along with Management Discussion and
Analysis is annexed to this report. A certificate from Statutory
Auditors with regards to the compliance of the corporate governance, as
stipulated in Clause 49 of the Listing Agreement, by the company is
annexed to this report.
The Company has fully complied with all mandatory requirements
prescribed under Clause 49 of the listing agreement. In addition, the
Company has also implemented some of the non mandatory provisions of
Clause 49.
ACKNOWLEDGEMENT
The Board of Directors take this opportunity to thank the Bankers and
Government for the Co- operations and support by them from time to time
in the operation of the company during the year. The Board also place
on record its deep appreciation for the contribution made by the
employees at all levels.
By order of the Board
For GUJARAT BULK PACKS LIMITED
Place: Ahmedabad Rashmikant Agrawal Anand Singhal
Date : 02/09/2011 Chairman & Managing Director Director
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