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आशीष पॉलीप्लास्ट लिमिटेड

बीएसई: 530429  |  NSE: N.A  |  ISIN: INE831C01016  |  Packaging

खोजें आशीष पॉलीप्लास्ट लिमिटेड कनेक्शन Mar 14
निदेशकों की रिपोर्ट वर्षांत : Mar '15
 Dear Members,
 
 We have great pleasure in presenting Twenty First Annual Report on the
 working of the company together with the Annual Accounts for the year
 ended on 31st March 2015 and trust that the same will meet your
 approval.
 
 1.    FINANCIAL RESULTS
 
 Particulars                                      2014-15       2013-14
                                                 Amount          Amount
                                                  (Rs.)           (Rs.)
 
 Sales & Other Income                       107,081,017      89,746,630
 
 Profit/(Loss) before                         3,219,093       2,944,973
 Depreciation and Taxation
 
 Less: Depreciation                           1,730,965       1,754,682
 
 Profit/(Loss) before Tax                     1,488,128       1,190,291
 
 Less: Provision for taxation                   327,325       (386,157)
 
 Profit/(Loss) after taxation                 1,160,803       1,576,448
 
 Add: Balance of last year                    8,880,687       7,304,239
 brought forward
 
 Balance Profit/(Loss) available             10,041,490       8,880,687
 for appropriation
 
 Less : Transfer to General Reserve                                 
 
 Less : Depreciation on transition
 to schedule II
 of the Companies Act, 2013                     491,682              
 
 Proposed Dividend                                  ---              
 
 Dividend Distribution Tax                                          
 
 Balance Profit/(Loss)                        9,549,808       8,880,687
 Carried to Balance Sheet
 
 2 COMPANY''S PERFORMANCE
 
 The sales turnover of the company amounted to Rs. 106,557,902/- in the
 current year as compared to Rs. 89,690,504/- in previous year which
 shows an increase of about 19%. The company has earned lower net profit
 after tax of Rs. 1,160,803/- during the year as against Rs. 1,576,448/-
 in last year due to increase in expenses and higher income tax
 provision However Profit Before Depreciation and interest (PBDIT) has
 increased to Rs. 5,503,636/- during the Current year as against Rs.
 5,187,821/- in last year. This was due to increase in production &
 sales quantity. Your Directors are making constant efforts for
 increasing the business of the company..
 
 3 DIVIDEND
 
 Your Directors do not recommend dividend for the year under review, in
 order to strengthen the long term Resources of the Company.
 
 4 TRANSFER TO RESERVES
 
 The Company has not transferred any amount to reserves.
 
 5 MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS
 
 The detailed analysis of the operating performance of the Company for
 the year, the state of affairs and the key changes in the operating
 environment have been included in the Management Discussion and
 Analysis Section which forms a part of the Annual Report. (Annexure D)
 
 6 MATERIAL CHANGES BETWEEN THE END OF THE FINANCIAL YEAR AND DATE OF
 THE BOARD REPORT
 
 There have been no material changes and commitments, affecting the
 financial position of the Company which have occurred between the end
 of the financial year of the Company to which the financial statements
 relate and the date of the report.
 
 7 SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
 TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATIONS
 IN FUTURE
 
 During the year under review there have been no such significant and
 material orders passed by the regulators or courts or tribunals
 impacting the going concern status and company''s operations in future.
 
 8 SUBSIDIARIES OR JOINT VENTURES OR ASSOCIATES
 
 As on March 31 2015 the company does not have any subsidiary or joint
 venture or associate.
 
 9 RISK MANAGEMENT POLICY
 
 The Company has in place a dynamic Risk management framework for a
 systematic approach to control risks as the framewrok identifies,
 evaluates business risks and oppurtunities and seeks to create
 transparency and minimize adverse impact on the business. The Risk
 Management Process is appropriately handled by functional heads. As on
 Date, the comany envisage risks which could threaten the existence of
 the company
 
 10 CORPORATE SOCIAL RESPONSIBILITY
 
 The Company is not required to constitute a Corporate Social
 Responsibility Committee as it does not fall within the purview of
 Section 135 (1) of the Companies Act , 2013 and hence it is not
 required to formulate policy on corporate social responsibility.
 
 11 DIRECTORS
 
 As per section 152 of the Companies Act,2013 and clause 110 of Article
 of Association of the Company Smt Kantaben Panchal is liable to retire
 by rotation and being eligible, offers herself for re-appointment.
 
 Pursuant to the provisions of Section 161(1) of the Companies Act, 2013
 and the Articles of Association of the Company, Shri Fenil Kalpesh
 Kansara was appointed as an Additional Director designated as an
 Independent Director w.e.f. 31st March 2015 and he shall hold office up
 to the date of the ensuing Annual General Meeting.
 
 12 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 As per the provisions of Sub section 3(c) of Section 134 (5) of the
 Companies Act 2013 the Directors hereby state and confirm that:
 
 1 in the preparation of the Annual Accounts, the applicable accounting
 standards have been followed and that no material departures have been
 made from the same;
 
 2 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 at the end of the financial year and of the profit of the
 Company for that period;
 
 3 they have taken proper and sufficient care for the maintenance of
 adequate accounting records in accordance with the provisions of the
 Act for safeguarding the assets of the Company and
 
 for preventing and detecting fraud and other irregularities;
 
 4 they have prepared the Annual Accounts on a going concern basis.
 
 5 they had laid down internal financial controls to be followed by the
 Company and that such internal financial controls are adequate and
 were operating effectively.
 
 6 they had devised proper systems to ensure compliance with the
 provisions of all applicable laws and that such systems were adequate
 and operating effectively.
 
 13 NUMBER OF MEETINGS OF THE BOARD
 
 Six Meetings of the Board were held during the year. For details of the
 meetings of the Board , please refer to the Corporate Goverence Report,
 which forms part of this report.
 
 14 BOARD EVALUATION
 
 Persuant to the provisions of the Companies Act, 2013 and Clause 49 of
 the Listing agreement, a structured qustionnaire was prepared after
 taking into consideration of the various aspects of the board functions,
 composition of the board amd its committees, culture, execution and
 performance of specific duties , obligations and governance.
 
 The perfomance evaluation of the independent Directors was completed.
 The perfomance evaluation of the chairman and the Non-Independent
 Directors was carries out by the Independent Directors. The Board to
 Directors expressed their satisfaction with the evaluation process.
 
 15 DIRECTORS '' REMUNERATION POLICY AND CRITERIA FOR MATTERS COVERED
 UNDER SECTION 178 OF COMPANIES ACT 2013
 
 The Company has constituted a Nomination and Remuneration Committee
 under Section 178 (1) of the Companies Act 2013 which determines
 Directors'' remuneration policy and criteria for determining
 qualifications, positive attributes, independence of a Director and
 other matters provided under Sub - Section (3) of Section 178. Details
 of the same are provided in the Corporate Governance Report.
 
 16 KEY MANAGERIAL PERSONNEL APPOINTED DURING THE YEAR
 
 Mr. Rasik B. Panchal was appointed as chief financial officer during
 the year.
 
 17 CHANGES IN NATURE OF BUSINESS
 
 There is no change in the nature of the business of the Company done
 during the year.
 
 18 PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF
 THE COMPANIES ACT 2013.
 
 During the year under review, the Company has not advanced any loans /
 given guarantees / made investments covered under the provisions of
 Section 186 of the Companies Act 2013.
 
 19 CORPORATE GOVERNANCE REPORT
 
 Pursuant to clause 49 of listing agreement with stock exchanges, a
 separate section on corporate governance and certificate obtained from
 auditors of the company regarding compliance with the conditions of
 corporate governance are forming part of this annual report. Mr. Ashish
 Panchal, Managing Director and Mr. Rasik B. Panchal (Chief Financial
 Officer) have given a certificate to the Board as contemplated in
 sub-clause V of the Clause 49 of the Listing Agreement.
 
 20 PARTICULARS OF EMPLOYEES:
 
 There was no employee drawing remuneration of Rs. 5,00,000/ per month
 or Rs.60,00,000/ per year.  The Board of Directors wishes to express
 its appreciation to all the employees of the company for their
 outstanding contribution to the operation of the company during the
 year.
 
 21 DEPOSITS
 
 The company has not invited or accepted any fixed deposit from public
 during the year under review and as such, no amount on account of
 Principal or interest on deposits from public was outstanding as on the
 date of the Balance Sheet.
 
 22 AUDIT COMMITTEE
 
 The details pertaining to composition of audit committee are included
 in the Corporate Govemanace Report, which forms part of this report.
 
 23 AUDITORS
 
 M/s. M.R. Pandhi & Associates, Chartered Accountants, Ahmedabad,
 Auditors of the Company, hold office until the conclusion of the
 ensuing Annual General Meeting and are eligible for reappointment.
 M/s. M.R. Pandhi & Associates have confirmed that their re-appointment,
 if made, shall be within limits specified under section 139 of the
 Companies Act, 2013.
 
 24 SECRET ARIAL AUDIT REPORT
 
 The Board has appointed Mr. Kamlesh M.Shah Practising Company Secretary
 to conduct Secretarila Audit for the financial year under review. The
 Secretarial Audit Report for the financial Year ended 31st March 2015
 is annexed herewith marked as Annexure A to this Report
 
 25 REPORTS OF STATUTORY AUDITORS AND SECRETARIAL AUDITORS
 
 The Auditors'' Report and Secretarial Auditors'' Report does not contain
 any qualifications, reservations or adverse remarks.
 
 26 EXTRACT OF THE ANNUAL RETURN
 
 As prescribed under Section 92 (3) of the Act, the extract of the
 Annual Return in Form No. MGT- 9 is annexed herewith as Annexure C to
 this Report.
 
 27 DEPOSITORIES
 
 The company is registered with both National Securities Depositories
 Ltd (NSDL) and Central Depository Services (India) Ltd. (CDSL). The
 shareholders can take advantage of holding their scripts in
 dematerialized mode.
 
 28 INTERNAL CONTROL SYSTEM
 
 The Company has internal control system commensurate to the size of its
 operations. Your company''s Statutory Auditors have confirmed the
 adequacy of Internal control system.
 
 29 CONSERVATION OF ENERGY . TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Information on conservation of energy, technology absorption and foreign
 exchange earnings and outgo are required to be given pursuant to section
 134 of the Companies Act, 2013 read with Companies (Accounts) Rules,
 2014 regarding in the statement annexed as Annexure B hereto forming a
 part of this Report.
 
 30 RELATED PARTY TRANSACTIONS
 
 There were no related party transactions entered into by the company
 during the financial year, which attracted the provisions of Section
 188 of the Companies Act 2013. There being no related party
 transactions as defined under clause 49 of the listing agreement, there
 are no details to be disclosed in Form AOC - 2 in that regard. Pesuant
 to Clause 49 of Listing Agreement and the applicable of the Companies
 Act, 2013 the related party policy for dealing with related party
 transactions.
 
 A copy of the related party policy for dealing with related party
 transactions is available on the website of the company. Transactions
 with the related party are disclosed in detail in note no.42 and
 annexed to the financial statements for the year.
 
 All the related party transactions are duly approved by audit committee
 as required under the provisions of the Companies Act, 2013 and Listing
 Agreeement as well as the related party policy of the company.
 
 31 WEBSITE:
 
 As per the Clause 54 of the Listing Agreement, the Company has
 maintained a functional website www.ashishpolyplast.com which has all
 the details i.e. details of its business, financial information,
 shareholding pattern, compliance with corporate governance, contact
 information of the designated officials of the Company who are
 responsible for assisting and handling investor grievances, details of
 agreements entered into with the media companies and/or their
 associates, etc.The contents of the said website are updated on regular
 basis.
 
 32 VIGIL MECHANISM/WHISTLE BLOWER
 
 Every listed company and other companies have to formulate the vigil
 mechanism for Directors and employees of the Company to report genuine
 concerns about unethical behavior, actual or suspected fraud or
 violation of the company''s code of conduct or ethics policy in terms of
 provisions of Section 177 of the Companies Act, 2013 and Rules made
 thereunder and revised Clause - 49 of the Listing
 Agreement with Stock Exchanges. The Company have formulated vigil
 mechanism and whilstle blower policy.
 
 The vigil mechanism shall provide for adequate safeguards against
 victimisation of employees and directors who avail of the vigil
 mechanism and also provide for direct access to the Chairperson of the
 Audit Committee under section 177(9) of the Companies Act, 2013.
 
 In case of repeated frivolous complaints being filed by a director or
 an employee, the audit committee may take suitable action against the
 concerned director or employee including reprimand. A whistle
 blower may be within the organization who discloses any illegal,
 immoral or illegitimate practices to the employer; he/she may be
 employee, superior officer or designated officer. It also for the
 outsiders to use this mechanism for the aforesaid acts.
 
 A separate Section on Corporate Governance, along with a certificate
 from the Auditors confirming the compliance, is annexed and forms part
 of the Annual Report.
 
 33 REMUNERATION RATIO OF THE DIRECTORS / KEY MANAGERIAL PERSONNEL (KMP)
 / EMPLOYEES
 
 The information required pursuant to Section 197 read with Rule 5 of
 the Cempanies ( Appointment and Remuneration of Managerial Personnel )
 Rules 2014 and Companies ( Particulars of Empolyees) Rules 1975, in
 respect of employees of the Company and Directors is funished here as
 under
 
 Sr     Name           Designation       Remuneration      Remuneration
 no                                      paid in           paid in
                                         F.Y 2014-15       F.Y 2013-14
                                         Rs in Lacs        Rs in Lacs
 
 1     Ashish D        Managing          12.19             12.19
       Panchal         Director
 
 
 Sr      Name                Increase in              Ratio/Timesper
 no                          remuneration from        median of the
                             previous years           employee
                             Rs in Lacs               remuneration
 
 1      Ashish D             NIL                       10,25
        Panchal
 
 34 POLICY ON PROTECTION OF WOMEN AGAINST SEXUAL HARRASEMENT AT
 WORKPLACE
 
 The Company is commited to creating a healthy & conductive working
 environment that enables women to work without fear of prejudice,
 gender bias and sexual harrasement and/or any such orientation in
 implicit or explicit form. The Company considers sexual harassment as
 gross misconduct. Pursuant to the provisions of The Sexual Harassment
 of Women at Workplace (Prevention, Prohibition and Redressal) Act,
 2013 and the rules made thereunder, the company has adopted a Policy
 on Protection of Women against Sexual Harrasement at Work Place.
 Through this policy the Company Seeks to provide protection to its
 women employees against sexual harassement at work place and thereby
 provide mechanism for redressal of complaints relating to months
 connected therewith or incidental there to.
 
 35 CAUTIONARY STATEMENT
 
 Statements in the Director''s Report and the Management Discussion and
 Analysis describing the Company''s objectives, expectations or
 predictions, may be forward looking within the meaning of applicable
 Securities Laws and Regulations. Actual results may differ materially
 from those expressed in this statement. Important factors that could
 influence the Company''s operations include: global and domestic demand
 and supply conditions affecting selling prices, in capacity additions,
 availability of critical materials and their cost, change in
 Governments Policies and tax laws, economic development of the Company,
 and other factors which are material to the business operation of the
 Company.
 
 36 CORPORATE GOVERNANCE
 
 Your Company is committed to good corporate governance practice and
 following to the guidelines prescribed by the SEBI and stock exchange
 from time to time. The company has implemented all of the major
 stipulations as applicable to the company. The Statutory Auditors
 Certificate in accordance with Clause 49 of the listing agreements and
 report on the corporate governance is annexed to and form part of the
 Directors Report. Mr. Ashish Panchal, Managing Director and Mr. Rasik
 B. Panchal, Chief Financial Officer have given a certificate to the
 Board as contemplated in sub clause V of the clause 49 of the Listing
 Agreement.
 
 37 ACKNOWLEDGEMENT
 
 The Board takes the opportunity to thank for the continued support
 received from Banks and government authorities. Your Directors also
 acknowledge the support received by the Company from its suppliers of
 goods & services, agents, dealers, shareholders and other agencies
 associated with the Company.
 
                                      On behalf of the Board
 
 Place : Ahmedabad.           Rasik B. Panchal       Ashish D. Panchal
 Date : 29th May 2015         Chief Financial        Chairman
                              Officer                DIN No. : 00598209
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `3336.6 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `2785.67 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `774.34 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1262.06 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `1740.57 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `1477.38 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `224.53 Cr की खरीदारी
  • CORONAVIRUS OUTBREAK : नार्वे में कोरोना वायरस का पहला मामला सामने आया
  • CORONAVIRUS OUTBREAK : द. कोरिया में कोरोना वायरस के 334 नए मामले आए
  • CORONAVIRUS OUTBREAK : चीन मेें कोरोना वायरस से अब तक 2,744 की मौत

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