| Dear members,
The Directors are pleased lo present the 25th (Twenty Fifth) Annual
Report together with the Audited Accounts of your Company for the
financial year ended 3 1 st March, 2014.
The purpose of the Directors' Report is to provide shareholders with
certain statutory in ion nation about the Company, its Directors and
operations. The Performance and Operational Review, which forms part of
the Directors' Report, informs shareholders, and helps them assess how
the Directors have performed their duty to promote the success of the
Company.
Financial Results and Performance of the Company
The summarized working results for the financial year ended on 31st
March, 2014 as compared with the previous year are as under:-
(Rupees in Lacs)
Operating Results
Current year Previnus vear
2013 2014 2012-2013
Total Income 403.27 725.67
Total Expenses (563.31) (819.38)
Profit /(loss) Before depreciation (68.04} (93.71)
Depreciation (139.51) (202.44)
Prefit 7 (Loss) Before Extra Ordinary (207.55) (296.14)
item & interest
Interest - -
Profit 7 (Loss) Before Tax (207.55) (296,14)
Tax - -
Net Profit / (Loss) after Tax (207,55) (296.14)
Excess Provision written back - -
Net Profit / (Loss) carried tO Balance (207.55) (296.14)
Sheet
Performance and operational Review
The Board informs to you that the performance of your Company was not
satisfactory during the financial year even though settlement of
production level, working out of logistics with respect to movement of
finished products from factory, arrangement of raw materia is etc was
satisfactory' in comparison to previous financial year. The staff and
workers pus their sincere effort in the operation of tire plant and
achieving efficiency in the production level,
During the year, the company has achieved a sales turnover of Rs.
477.59 Lacs in the financial year ending 3 I st March 2014 as compared
to Rs. 717.39 Lacs in the year ended 31*" Match. 2013. The Company has
earned income of Rs. 495,27 Lacs in comparison to income of Rs. 725.67
Lacs during the previous financial year.
Your Directors have taken appropriate remedial action to mitigate the
adverse circumstances and are hopeful of better performance and resuIts
during the current year
Company is taking effective steps to improve iis production and sales
during the year under review.
Trading in the equity shares of the Company at BSE
We are very pleased io inform you final from the date of listing of
equity shares of the Company with the Bombay Stock Exchanges (w.e.f.
June, 2009) the equity shaves of the Corn pans- are regaining its
trading volume day by day on the bourses with the strenuous and
fruitful efforts of the Board of Directors and management of the
Company. This has provided an extra platform to the proposed investors
to invest in the Company and the existing investor more liquidity for
entry anti exit route in the Company.
Dividend
The Board of Director does not recommend any dividend for the financial
Year 201-3-2014 due to the loss for tine year.
Public Deposit
During the year the Company has no! accepted or invited any deposit
from the public within the meaning of section 58A and 58AA of the
Companies Act, 1956 read with Companies (Acceptance of Deposit) Rules,
1975, during the year under review.
Information about Energy Conservation, Technology Absorption and
Research & Development and Foreign Exchange earnings and outgo
(A) Cnergy Conservation ;
a) Energy conservation measure taken by the Company-:
i. To optimize steam transfer of autoclaves for pre-heating purpose,
ii. To control spillage of green mix and reuse it before getting it
dried, so that it can be used without adding extra inputs.
iii. By using certain anti-scaling and anti ami-deoxidizing chemicals
for boiler feed water to enhance boiler themial efficiency,
iv. Resetting of factory' shed sheeting in lime area to utilize
natural flow of wind efficiently id reduce number of exhaust fans,
b) Additional in vestment.'proposal being implemented for reduction of
consumption-
i. Second line of steam transfer within the autoclave has been com
pieled.
ii. To ensure proper insulation on all the autoclaves and boilers as
well, ill. Using of CFL.s in place of Halogen lights in plant areas.
iv. To utilize broken bricks (waste) powdefi as a raw material for in
house use or for other fly ash based indnsrries,
c) Impact of measures as mentioned above in consumption of energy and
on die cosl of production of goods.
Saving in energy consumption and waste material utilization will reduce
the production cost of the Company and would also help a bit against
global warming,
(B) Techmilogy absorption amt Research & Development.
With its established in-house Research & Development Sand Blast has
built its reputation with customers, government authorities, national &
international market and in the society by utilizing up to 90% of fly
ash In the manufacturing of high quality bricks of strength 100 kg per
sq. cm and above.
a) Specific area in which research and development carried out by the
Company
I. To make utilization of broken bricks (waste) power as a raw material
for In house use or for other fly ash based industries,
li. Stabilizations of different raw materia! composition to get better
and economical product,
b) Benefit derived as result of above efforts:
The Research and Development works for the above are at the preliminary
stage only but the Company is very hopeful to get the favourable
results-
c) Future course of action
Work on above assumptions at different level and to get success and to
prove globalIy that Sand Plast India Limited is the pioneer in the
field of ash utilization.
(C) Foreign Exchange earnings and outgo
The company has not spent any foreign exchange outgo during the
financial year. There were no foreign exchange incoming during the
financial year.
Particulars of Employees
None of the employees are in receipt of remuneration in excess of the
limits prescribed under section 217(2A) of die Companies Act, 1956 read
wish the Companies (Particulars of Employees) Amendment Rules, 201 I,
as amended, therefore, no disclosure Is required.
Director1 & Responsibility Statement as per Section 217 (2AA) of the
Companies Act. 1956
Pursuant to the requirement under section 217 (2AA) of the Companies
Act'1956 with respect to director's 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 explanations relating to material
departures:
(ii) that the directors had 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 stale
of affairs of the company at the end of the financial year and of the
profit or loss, to be read with notes on accounts, of the company for
the year under review:
(iii) That the director have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguard of 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 a "going concern" basis.
Board of Directors
At the AOM held on as a result of retirement by rotation Dr. Ram S.
Craig who retire by rotation and offer himself for re-appointment ns
the independent-director of the Company So the said AGM and being
eligible, offer himself for re-appointment.
Directors observation on Audit Report
Attention is invited to point no (vi) (a ) i.e. Note. No, 5 of the
Balance sheet of the company for the year, which state that the company
has filed Modified Draft Rehabilitation Scheme to Hon'ble BlFR dated
27th April, 2010 and Secured Creditors i.e. PNB and HIJDCO. The Company
has not provided interest on PNB dues amounting to Rs. 365.58 Lacs and
Rs. 5457.02 Lacs in respect of HIJDCO in lotality. as a result of the
same Secured liabilities and accumulated losses of the company are
understated by Rs. 3802.40 Lacs (including Current: year Interest Rs.
452,80)
With reference as per point no, (vi) (a) of the Auditor Report, the
dues of the financial institutions were rescheduled under
rehabilitation package pending with the honorable BTFBL.
Auditors
M/s D khantra Associates, Statutory Auditors of the company shall hold
office till the conclusion of the ensuing Annual General Meeting and
are eligible For re-appointment.
However the management of the Company is hopefal that the performance
of the Company will improve in near future.
Corporate Governance - Clause 49 of the Listing Agreement
Your Company has followed Good Corporate Governance Practices since
incept tot i and in acccordance with the code of Corporate Governance.
The detailed report on Corporate Governance along with the certificate
from Statutory Auditors in compliance as per Clause 40 of the Listing
Agreement is attached herewith as Annexure-I and forms parr of this
repoit.
Industrial Relation
Your company has taken significant step in developing human resource
and strengthening human resource systems. During the year under review,
industrial relation in the company continues to be cordial and
peaceful.
Acknowledgement
Your Directors wish to convey their appreciation to all suppliers,
promoters, lenders and governments for their invaluable supports and
look forward to continued supports in future. The Board of Directors
thanks to the appreciation of employees at all the levels for their
hard work, dedication and commitment which enable the company make
progress ahead.
By order of the Board of
Sand Plast (India) Limited
Sd/-
Date: 21st August, 2014 Rajesh Gupta
Place: New Delhi Managing Director
DIN: 01663485
ADD.: F-251, Janpath,
Priyadarshni Marg,
Shyam Nagar Extn,
Jaipur-302019
Rajasthan
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