अल्फा आईसीए (इंडिया) निदेशकों की रिपोर्ट, अल्फा आईसीए (इंडिया) निर्देशकों द्वारा रिपोर्ट

अल्फा आईसीए (इंडिया)

बीएसई: 530973  |  NSE: N.A  |  ISIN: INE042C01010  |  Miscellaneous

खोजें अल्फा आईसीए (इंडिया) कनेक्शन Mar 14
निदेशकों की रिपोर्ट वर्षांत : Mar '15
 Dear Members,
 The directors present 24thAnnual Report on the operations and
 performance together with the Audited Financial Statements for the year
 ended on 31st March 2015.
 FINANCIAL HIGHLIGHTS                                      In Rs.
 Particulars                                           Current Year
 Total Turnover and other Receipts                      570,856,544
 Gross Profit/Loss(Before deducting
 any of the following)                                   36,206,236
 A.   Interest and Financial charges                     14,928,223
 B.   Depreciation                                        6,706,639
 C.   Tax Liability
      I.  Current Tax                                     5,189,468
      II. Deferred Tax                                  (1,228,995)
 Net Profit available for appropriation                  10,610,901
 Provision for Investment Allowance Reserve                     Nil
 Net Profit.
 A.   Add : Brought forward from last
 year''s balance                                          44,006,924
 B.   Less: Transferred to General Reserve                      Nil
            Transitional adjustment on
            account of depreciation                      15,326,452
            Dividend                                            NIL
 Balance Carried forward                                 39,291,373
 Particulars                                          Previous Year
 Total Turnover and other Receipts                     580,599,062
 Gross Profit/Loss(Before deducting
 any of the following)                                  32,787,437
 A.   Interest and Financial charges                    11,760,269
 B.   Depreciation                                      11,034,484
 C.   Tax Liability
      I.  Current Tax                                    5,106,000
      II. Deferred Tax                                 (2,215,624)
 Net Profit available for appropriation                  7,102,308
 Provision for Investment Allowance Reserve                    Nil
 Net Profit.
 A.   Add : Brought forward from last
 year''s balance                                         36,904,616
 B.   Less: Transferred to General Reserve                     Nil
            Transitional adjustment on
            account of depreciation                            Nil
            Dividend                                           NIL
 Balance Carried forward                                44,006,924
 During the year under review net turnover of the Company has been
 decreased from Rs. 580,599,062 to Rs. 570,856,544 as compared to
 previous year''s turnover. In spite of this, during the year company was
 able to increase its net profit as compared to previous year''s net
 profit from Rs. 7,102,308 to 10,610,901 in the corresponding year.
 No Dividend was declared for the current financial year due to
 conservation of Profits for the financial year 2014-15.
 The Company is presently engaged in the process of manufacturers,
 dealers, traders, exporters, importers, consignors, consignees, agents,
 factors, brokers, whole-salers, retailers of all kinds, types, sizes of
 laminates whether industrial decorative or otherwise, wood and plywood
 with and/or without lamination of any type and kind thereon including
 other types of wood such as teak wood, flush door, plywood, figure
 wood, fibrous boards, duplex boards, triplex boards, colour boards,
 block boards, laminated boards, press boards, gypartition boards,
 packing wood and articles/products, furniture made there from whether
 for industrial, commercial and domestic purposes/uses.
 MDA, for the year under review, as stipulated under clause 49 of the
 Listing Agreement, is presented in a separate section forming part of
 this Annual Report.
 During the year under review, the Company has not entered into related
 parties transactions for sale/purchase of goods or services. Other
 details for inter corporate financial transactions or remuneration and
 other benefits paid to directors, their relatives, key managerial
 personnel etc. are given in the notes to the accounts vide note no. 26
 as per requirements of AS 18.
 Shri Rishi Tikmani (DIN00638644) will retire by rotation at the ensuing
 Annual General Meeting and being eligible offers himself for
 re-appointment. The Board recommends his reappointment.
 Every Independent Director, at the first meeting of the Board in which
 he participates as a director and thereafter at the first meeting of
 the Board in every financial year, gives a declaration that he meets
 the criteria of independence as provided under the Companies Act, 2013.
 Pursuant to the provisions of the Companies Act,2013 and Clause 49 of
 the Listing Agreement, the Board has carried out an annual performance
 evaluation of its own performance, the directors individually as well
 as the evaluation of the working of its Committees. Performance
 evaluation has been carried out as per the Nomination and remuneration
 In terms of Section 134(3)(c) of the Act, your Directors state that:
 a) in the preparation of the financial statements for the financial
 year ended 31stMarch 2015,as far as possible and to the extent, if any,
 accounting standards mentioned by the auditors in their report as not
 complied with, all other applicable accounting standards have been
 followed along with proper explanation relating to material departure;
 b) such accounting policies have been selected and applied them
 consistently and judgments and estimates made 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 and profit of the Company
 for the year ended on that date;
 c) proper and sufficient care has been taken for maintenance of
 adequate accounting records in accordance with the provisions of this
 Act for safeguarding the assets of the Company and for prevention and
 detection of fraud and other irregularities;
 d) the annual financial statements are prepared on a going concern
 basis; and
 e) proper internal financial controls are in place and that such
 internal financial controls are adequate and were operating
 f) proper systems to ensure compliance with the provisions of all
 applicable laws and that such systems were adequate and operating
 The Board of Directors supports to maintain the highest standards of
 corporate governance and adhere to the corporate governance
 requirements set out by SEBI. The Report on corporate governance as
 stipulated under Clause 49 of the Listing Agreement forms part of the
 Annual Report. The requisite certificate from the Auditors of the
 Company confirming compliance with the conditions of corporate
 governance as stipulated under the aforesaid Clause 49 is attached to
 the Report on corporate governance.
 The shareholders in their meeting held on 23rd September, 2014 approved
 the appointment of M/s. O.P. Bhandari& Co, Chartered Accountants,(Firm
 Registration No. 112633W) as Statutory Auditor of the Company to hold
 office till the conclusion of the 26th Annual General Meeting subject
 to ratification of shareholders in every Annual General Meeting.
 Accordingly, a resolution seeking Members'' ratification on appointment
 of M/s. O.P.Bhandari & Co., Chartered Accountants, as the statutory
 Auditors of the Company for the financial year 2015-16 is included at
 item No.3 of the Notice convening the Annual General Meeting.
 The Board has duly reviewed the Statutory Auditor''s Report on the
 accounts. The observations and comments, appearing in the Auditor''s
 Report are self-explanatory and do not call for any further
 explanation/clarification by the Board of Directors as provided under
 section 134 of the Act.
 The Company has appointed M/s. Biren Shah & Co, Chartered Accountants
 to act as an Internal Auditor as per suggestion of auditors and
 recommendation of the audit committee in order to strengthen the
 internal control system for the Company.
 The Company has appointed M/s. KAMLESH M. SHAH & CO. as the secretarial
 auditor for the financial year 2014-15. They have given their report in
 the prescribed form MR-3 which is annexed to this report as an
 Annexure - 1.
 A well-defined risk management mechanism covering the risk mapping and
 trend analysis, risk exposure, potential impact and risk mitigation
 process is in place. The objective of the mechanism is to minimize the
 impact of risks identified and taking advance actions to mitigate it.
 The mechanism works on the principles of probability of occurrence and
 impact, if triggered.  A detailed exercise is being carried out to
 identify, evaluate, monitor and manage both business and non-business
 The Company has established vigil mechanism and framed whistle blower
 policy for directors and employees to report concerns about unethical
 behavior, actual or suspected fraud or violation of Company''s Code of
 Conduct or Ethics Policy.  Whistle Blower Policy is disclosed on the
 website of the Company.
 The details forming part of the extract of the Annual Return in form
 MGT 9 is annexed herewith as Annexure 2 to this report.  PARTICULARS
 Particulars of the employees as required under provisions of Section
 197 (12) of the Act read with Rule 5 of the Companies (Appointment and
 Remuneration of Managerial Personnel) Rules, 2014 as amended from time
 to time, are attached with this report -Annexure - 3. There was no
 employee who was in receipt of remuneration in excess of Rs. 500000 per
 month during the year or Rs. 60 Lacs per annum in the aggregate if
 employed part of the year.
 The information pertaining to conservation of energy, technology
 absorption, Foreign exchange Earnings and outgo as required under
 Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8 of the
 Companies (Accounts) Rules, 2014 is furnished in Annexure to Directors
 Report and is attached to this report. - Annexure -4.
 No material changes have taken place after the closure of the financial
 year up to the date of this report which may have substantial effect on
 the business and financial of the Company.
 No significant and material orders have been passed by any of the
 regulators or courts or tribunals impacting the going concern status
 and companies operations in future.
 The equity shares of the company are listed at the Bombay Exchange
 Limited and Ahmedabad Stock Exchange Limited.  The trading volumes in
 the company''s shares on the Ahmedabad Stock Exchange Limited are
 insignificant / NIL which does not justify the payment of considerable
 amounts of listing fees and other expenses which the company is
 incurring. Therefore, the company has delisted Company''s equity shares
 from the Ahmedabad Stock Exchange Limited to save the recurring costs
 without affecting the interest of investors of the Company and without
 affecting the liquidity of equity shares of the Company. The Equity
 Shares of the Company will continue to be listed in the Bombay Stock
 Exchange (BSE) which has the connectivity in most of the cities across
 the country.
 Your directors state that the Company has made disclosures in this
 report for the items prescribed in section 134(3) of the Act and Rule 8
 of the Companies (Accounts) Rules,2014 to the extent the transactions
 took place on those items during the year.
 Your directors take this opportunity to express their sincere
 appreciation to the shareholders, customers, bankers, suppliers,
 employees and other business associates for the excellent support and
 co-operation extended by them.
                                    BY Order of the Board of Directors
                                                      Rajendra Tikmani
 Place : Ahmedabad                                   Managing Director
 Date :26th May, 2015                                  (DIN: 00333842)
स्रोत: रेलीगरे टेचनोवा

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