| Dear Members,
The Directors have pleasure in presenting the Thirty Third Annual
Report and the Audited Accounts for the year ended March 31, 2014
Financial Highlights
(Rs. In Lakhs)
Year ended Year ended
Detais
31.03.2014 31.03.2013
Turnover and other income 248.68 261.62
Profit before Finance Costs & Depreciation 104.45 121.46
Finance Costs 5.77 6.10
Depreciation 33.29 48.54
Profit before exceptional items & tax 65.39 66.82
Exceptional items 3.35 0.71
Profit before tax 68.74 67.53
Provision for Taxation
-Current tax 18.85 10.33
- Deferred tax adjustment -86 (-2.76)
- Previous year tax 0 13.34
Profit aftertax 49.03 46.62
Surplus brought forward from previous year 714.71 668.09
Total 763.74 714.71
Transfer to General Reserve 0 0.00
Surplus in Profit & Loss Account 763.74 714.71
Performance
During the year the turnover of the Company has decreased by 0.92% to
Rs.227.28 lakhs as against Rs.229.38 lakhs in the previous year. The
Company has achieved profit Before Tax of Rs.68.74 lakhs as against
profit of Rs.67.53 lakhs in the previous year, in the same period the
Profit after Tax stood at Rs.49.03 lakhs against the profit of Rs.46.62
lakhs.
Dividend
In orderto conserve financial resources, your Directors have not
recommended any dividend forthe year.
Finance
During the year the Company has not availed loan from Banks and other
financial institutions.
Directors Responsibility Statement
The Directors hereby confirm that:
a) in preparation oftheAnnualAccounts forthe financial year2013-14,
applicable Accounting Standards have been followed and that there are
no material departures;
b) they have 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 as at the end of the Financial Year and of the profit of
the Company for that period;
c) they have taken proper and sufficient care, to the best of their
knowledge and ability, for the maintenance of adequate accounting
records in accordance with the provisions of the Act and for
safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities;
d) they have prepared the Annual Accounts of the Company on a "going
concern" basis.
Management Discussion and Analysis Report
The annexed Management Discussion and Analysis forms a part of this
Report and covers, amongst other matters, the performance of the
Company during the financial Year under review as well as future
prospects.
Corporate Governance
A report on Corporate Governance, along with Auditors'Certificate
regarding compliance of conditions of Corporate Governance stipulated
under clause 49 of the listing agreement is annexed hereto.
Fixed Deposits
Your Company has not accepted any deposits and, as such, no amount of
principal or interest was outstanding on the date of the Balance Sheet.
Directors
Mr. SudhirDoshi (DIN008627), director of the Company retire by rotation
at the ensuing Annual General Meeting and being eligible offer himself
for re-appointment.
Appointment of Mr. MP. Dhruv (DIN 01654978) as Independent Directors
pursuant to Section 149 and 152 of the Companies Act, 2013 is proposed
to be made at the forthcoming Annual General Meeting.
The Board members express their deep regret at the sad demise on 18
October 2013 of Mr. B.S. Deopura, Independent Director.
Brief resume of directors seeking appointment/re-appointment is annexed
with the notice calling this Annual General Meeting.
Auditors
M/s Satyam SVG & Co. Chartered Accountants, Udaipur retire at the
ensuing Annual General Meeting and being eligible offer themselves for
re-appointment.
Auditors' Report
As regards the Auditors Report, the points raised therein have been
explained in the Notes to the Accounts and elsewhere in the Annual
Report, as such Directors have no further comments to offer.
Particulars of Employees
During the year no employee was getting remuneration beyond the limit
fixed for which the particulars are required pursuant to Section 217
(2A) of the Companies Act, 1956 read with the Companies (Particulars of
Employees) Rules, 1975.
The Company continued to maintain good cordial relations with its
employees.
Conservation of Energy and Technology Absorption
The Company has no particulars to furnish underthe above head since it
has not carried any manufacturing activities during the year under
review.
Foreign Exchange Earnings and Outgo:
Please refer Notes No.29 notes forming part of the Accounts para no. 17
to 20.
Other Mandatory Requirements
Pursuant to the requirements of the Listing Agreements with the Stock
Exchanges and the Accounting Standards in terms of Section 211 (3A) of
the Companies Act, 1956, details of Related Party Transactions (AS-18),
Deferred Taxation (AS-22) and impairment of assets (AS-28) have been
incorporated in and / or annexed with the Accounts.
Acknowledgement
The directors record their gratitude to the bankers, financial
institutions, government departments fortheir assistance and
co-operation during the year.
The directors also place on record their appreciation of the dedicated
services of the workers and employees of the Company.
The directors also thank the shareholders for their continued faith and
support to the Company.
By order of the Board
For Rajdarshan Industries Limited
Sudhir Doshi Devendra Sharma
Director Director
Place : Udaipur
Date : August 06, 2014
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