| The Directors have pleasure in presenting the 18th Annual Report and
audited statement of accounts of the Company for the Year ended 31st
March, 2011.
FINANCIAL RESULTS:
Rs. Lacs
Particulars For The Year Ended For The Year Ended
31.3.2011 31.03.2010
Sales & Other
Income 9783.72 2.42
Profit /(Loss) before
Depreciation 15.14 0.55
Depreciation NIL NIL
Profit/(Loss) before Taxes 15.14 0.10
Provision for Taxation 5.20 NIL
Profit /(Loss) after Taxes 9.94 0.10
Balance 533.67 NIL
Balance brought forward
from previous 543.61 NIL
year
Profit Available for Appropriations
Proposed Appropriations:
I} Special Reserve Fund NIL NIL
Ii} Balance Carried to
Balance Sheet NIL NIL
OPERATIONS
The company during the year had carried out certain trading operation
and rendered services for its earnings. The funds of the company have
been deployed to earn reasonable return with minimum risk. The company
operational results are attached to the accounts.
FUTURE OUTLOOK
The company is making efforts to commerce new activities during the
year. The company decide to operate the activity of trading and
rendering of services in the current Year.
DIVIDEND
With a view to conserve the resources of the Company the Board of
Directors have not recommended any dividend for the year ended 31st
March 2011.
DEPOSITS
Your company has not accepted any deposit from the public during the
year under report.
DIRECTORS
Mrs. Pushpa Sonawani and Mr. Sanjay Sonawani Directors of the Company
retire by rotation and being eligible offer themselves for
re-appointment.
AUDITORS
Messrs. K. Sampat & Co., Chartered Accountants, the retiring Auditors
have not sought reappointment. It has been proposed to appoint Messrs.
AMD & Company, Chartered Accountants as Auditors of the Company. The
Company has received a Certificate from them that they are qualified
under Section 224 (1) of the Companies Act, 1956 for appointment as
Auditors of the Company. Members are requested to consider their
appointment at a remuneration to be decided by the Board of Directors
for the financial year ending March 31, 2011 as set out in the Notice
convening the Meeting.
AUDITORS REMARKS
The remarks of the auditors are self explanatory in nature and need no
further clarification.
STATUTORY INFORMATION
The company having appointed one employee in the current Year,
particulars of employees as required under Section 217(2A) of the
Companies Act, 1956, read with the Companies (Particulars of
Employees)) Rules, 1975.
CORPORATE GOVERNANCE
The company thought not yet mandatory require to comply with provisions
laid down in the Listing Agreement on corporate governance, has adhered
to strict levels of corporate governance and management.
DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1] In the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanations relating to
material departures.
2] Appropriate accounting policies have been selected and applied
consistently and judgments and estimates wherever made are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company as at the 31st March 2011.
3] 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.
4] The Annual Accounts have been prepared on a going concern basis.
ACKNOWLEDGEMENT
Yours Directors wish to thank the company 's bankers and all other
associates, for theirs co- operation and support during the year.
For and on behalf of Board of Directors
For Suryodaya Allo-Metal Powders Limited
Sd/-
Chairman.
Place:- Pune
Date:- 25.08.2011
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