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कैबसंस इंडस्ट्रीज

बीएसई: 524675  |  NSE: N.A  |  ISIN: INE645C01010  |  Miscellaneous

खोजें कैबसंस इंडस्ट्रीज कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear members,
 
 The Directors hereby present the 22nd Annual Report and Accounts of
 the Company for the year ended 31st March, 2014.
 
 FINANCIAL RESULTS:                                       (Rs.in Lakhs)
 
                                                 Year Ended  Year Ended 
                                                 31.03.2014  31.03.2013
 
 1) Sales, Other Income & Exceptional items          230.96      265.19
 
 2) Profit before Depreciation                        33.59      132.65
 
 3) Depreciation                                      26.52       30.86
 
 4) Profit after Financial Charges                     7.07      101.79
 and Depreciation         
 
 DISCUSSION ON FINANCIAL PERFORMANCE:
 
 During the year under consideration the Company got a profit of
 Rs.33.59 Lakhs before interest and depreciation as against profit of
 Rs.132.65 Lakhs during the previous year, which includes lease income
 and lease income is the major source of revenue to the Company.
 
 OUT LOOK:
 
 Your Company is concentrating on leasing out the bottling plants
 wherever opportunities are available.
 
 DIRECTORS:
 
 In view of new legislative changes, we have received proposals from the
 shareholders for reappointment of Sri P V Subba Rao, Sri Y S Sarma and
 Smt.Mangal Rathi non executive directors as Independent directors of
 the Company in the ensuing Annual General meeting in accordance with
 Section 149 of the Companies Act, 2013 and clause 49 of the listing
 agreement for a period of five years. The profiles of the reappointed
 directors are mentioned elsewhere in the report.
 
 Mr.Rajiv Kabra is retiring at the ensuing Annual General Meeting and
 being eligible, offers himself for re-appointment as Director, liable
 to retire by rotation.
 
 AUDITORS:
 
 Messers Brahmayya & Co., Chartered Accountants, Auditors of the
 company, retire at the conclusion of the Annual General Meeting and
 being eligible, offers themselves for reappointment. The Company has
 received a certificate from them to the effect that the appointment, if
 made, would be within the limits prescribed under Section 224(1-B) of
 the Companies Act, 1956.
 
 DIRECTORS RESPONSIBILITY STATEMENT AS REQUIRED UNDER SEC 217 (2AA) OF
 COMPANIES ACT 1956:
 
 Pursuant to the requirement under Section 217 (2AA) of the Companies
 Act, 1956, with respect to Directors'' 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 explanation relating to material departures;
 
 ii) That the Directors have 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 state
 of affairs of the Company at the end of the financial year and the
 profit of the Company for the year under review;
 
 iii) That the Directors have taken proper and sufficient care 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;
 
 iv) That the Directors have prepared the accounts for the financial
 year ended 31st March, 2014 on a going concern basis despite
 accumulated losses, erosion of net worth, excess of current liabilities
 over current assets and uncertainty associated with the operations of
 the Company.
 
 CONSERVATION OF ENERGY/TECHNOLOGY ABSORPTION/FOREIGN EXCHANGE EARNINGS
 AND OUTGO:
 
 As required under section 217(1)(e) of the Companies Act, 1956 read
 with Rule 2 of the Companies (Disclosure of Particulars in the Report
 of the Directors) Rules, 1988 information relating to conservation of
 Energy, Technology Absorption and Foreign Exchange Earnings and outgo
 is given in Annexure to the extent applicable and forms part of this
 report.
 
 DISCLOSURES AS PER LISTING AGREEMENT:
 
 Cash Flow Statement: In compliance of clause 32 of the Listing
 Agreement, the Cash Flow Statement prepared in accordance with the
 requirements prescribed by SEBI is appended to this Annual Report.
 
 CORPORATE GOVERNANCE:
 
 Pursuant to clause 49 to the Listing Agreement with Stock Exchanges, a
 separate section titled CORPORATE GOVERNANCE has been attached to
 this Annual Report. A Certificate from the Practicing Company Secretary
 of the Company regarding compliance of conditions of Corporate
 Governance stipulated in the Listing Agreement with Stock Exchanges,
 are annexed to and form part of the Annual Report.
 
 PARTICULARS OF EMPLOYEES:
 
 There are no employees who attract Section 217(2A) of the Companies
 Act, 1956 and therefore the particulars were not given.
 
 INFORMATION & EXPLANATION IN RESPECT OF QUALIFICATION / RESERVATION OR
 ADVERSE REMARKS CONTAINED IN INDEPENDENT AUDITORS REPORT UNDER PARAS:
 BASIS FOR QUALIFIED OPINION, EMPHASIS OF MATTER AND OTHER MATTERS:
 
 A) In view of very limited strength of employees, presently working
 with the Company, the requirements of AS-15 Employee Benefits in
 respect of gratuity could not be complied with. However provision for
 gratuity as required under Payment of Gratuity Act has been provided
 for.
 
 B) Inspite of continues erosion of networth, position of excess of
 current liabilities over current assets and uncertainty associated with
 operations of the company, the Accounts of the Company are prepared on
 going concern basis.
 
 C) Interest for the year Rs. 6,34,899/- on deposits of
 distributors/dealers has not been provided in view of company''s adverse
 financial position and will be negotiated for waiver resulting to
 overstatement of profit by that amount and understatement of current
 liabilities by Rs.84,40,497/-
 
 D) The company could not get confirmation of balances in respect of
 Trade Receivables and Trade Payables other than due from/to related
 parties as most of them are very old and presently no transactions are
 being taken place with them.
 
 INTERNAL CONTROL SYSTEM
 
 The company has a well-established system of internal control in
 operation which complies with the relevant provisions on ''Internal
 Control'' under the Company''s Auditor''s Report Order 2003 and as
 prescribed under revised clause 49 of the Listing Agreement with Stock
 Exchanges. All internal controls are continuously reviewed and risks of
 inaccurate financial reporting and fraud, if any, are dealt with
 immediately and eliminated. The status of implementation of recommended
 solutions are regularly reviewed and presented to the Audit Committee
 of the Board.
 
 PERSONNEL:
 
 Your Directors would like to place on record their deep sense of
 appreciation of the services of executives, staff and workers of the
 Company. Industrial Relations continued to be cordial throughout the
 year at all locations.
 
 ACKNOWLEDGMENT:
 
 Your Directors Express their thanks for the guidance and assistance
 received from State Bank of India, HDFC Bank Ltd, Department of
 Explosives and their Officials, Central Excise, Pollution Control
 Boards and Commercial Tax Departments of respective States, host of
 other State and Central Government Departments, Securities Exchange
 Board of India, and Stock Exchanges at Mumbai, Ahmedabad, Delhi,
 Kolkata and Chennai and others.
 
 Your Directors would like to express their gratitude to all Corporate,
 Institutional and Individual Shareholders for the confidence reposed by
 them in the Company.
 
                                         for and on behalf of the Board 
                                                                   Sd/- 
 Place: Hyderabad                                           RAJIV KABRA 
 Date : 14-08-2014                        Chairman & Executive Director
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `605 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `239.87 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `432.39 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `19.55 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `157.43 Cr की बिकवाली की
  • MARKET CUES : स्टॉक फ्यूचर्स में `282.37 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `26.96 Cr की खरीदारी
  • US FED HOLDS RATES STEADY : US FED ने नहीं किया ब्याज दरों में बदलाव
  • US FED HOLDS RATES STEADY : US FED ब्याज दर 1.5-1.75% की रेंज में बरकरार
  • CS ON L&T INFOTECH : Outperform रेटिंग, लक्ष्य `1900/Sh

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