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कोठारी इंडस्ट्रियल कॉर्पोरेशन निदेशकों की रिपोर्ट, कोठारी इंडस्ट्रियल कॉर्पोरेशन निर्देशकों द्वारा रिपोर्ट

कोठारी इंडस्ट्रियल कॉर्पोरेशन

बीएसई: 509732  |  NSE: KOTHARINDL  |  ISIN: INE972A01020  |  Diversified

खोजें कोठारी इंडस्ट्रियल कॉर्पोरेशन कनेक्शन Mar 13
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear members,
 
 The Directors present herewith the Forty-fourth Annual Report on the
 performance of the Company along with the Audited Balance Sheet and
 Profit and Loss Account for the Financial Year ended 31st March, 2014.
 
 The Financial Results are as follows:
 
                                            2013 - 14       2012 - 13 
                                                 (Rs.in Lacs)
 
 Turnover/ Income from Services              8361.29	   10807.19
 
 Profit/(Loss) before Interest and
 Depreciation	                           (566.73)	      58.50
 
 Interest and Finance Charges	             243.07	     232.83
 
 Loss before Depreciation	           (809.80)	   (174.33)
 
 Exceptional Items	                          -	       6.65
 
 Loss before depreciation	           (809.80)	   (167.68)
 
 Depreciation	                              53.45	      41.61
 
 Taxation	                                  -	          -
 
 Loss for the year	                   (863.25)	   (209.29)
 
 Balance Loss brought forward from 
 the previous year	                  (2463.09)	  (2253.80)
 
 Loss carried to Balance Sheet	          (3326.34)	  (2463.09)
 
 In view of the accumulated losses, the Directors are unable to
 recommend any dividend for the year ended 31st March, 2014.
 
 OPERATIONS:
 
 The Turnover of NPK Mixtures, Straight fertilizers and Trading
 activities was Rs.7871.74 lakhs as compared to Rs.10576.02 lakhs in
 the previous year. The Single Super Phosphate plant near Chennai could
 be operated only for a part of the year in view of inadequate working
 capital requirements. The production was 2826 MT as compared to 35891
 MT in the previous year.
 
 FUTURE PROSPECTS:
 
 The Company is in the advanced stage of tie-up for financial
 assistance for effectively putting in the use of available facilities
 at its fertilizer plant. It is expected that, barring unforeseen
 circumstances, the company would be in a position to re-start
 production of Single Super Phosphate by end January 2015.
 
 With respect to production and sale of NPK Mixtures and other
 products, the Company is planning to increase the quantum of sales by
 effective utilization of the available working capital.
 
 The particulars required under Companies (Disclosure of Particulars in
 the Report of the Board of Directors) Rules, 1988 are attached to this
 report.(Annexure-A).
 
 CORPORATE GOVERNANCE:
 
 Your Company has complied with the requirements of the code of
 Corporate Governance as stipulated under Clause 49 of the Listing
 Agreement with the Stock Exchange. A detailed report on Corporate
 Governance together with certification of the Chairman and Managing
 Director, Certificate of the Statutory Auditors on compliance with the
 Corporate Governance along with the Management Discussion and Analysis
 Report are attached and form part of the Annual Report (Annexures B &
 C).
 
 Further as required under Section 217(2AA) of the Companies Act, 1956,
 the Directors'' Responsibility Statement is also attached to this
 Report.
 
 DEPOSITS:
 
 The Company has not accepted any public deposit during the year.
 
 DIRECTORS:
 
 Mr.K.Santhanam, Dr.Easo John and Mr.Chetan Vijay Pagariya being
 Independent Directors are not liable to retire by rotation as per the
 provisions of the New Companies Act. Hence, their appointments are
 proposed for a period of 5 years as Independent Directors at the
 ensuing 44th Annual General Meeting.
 
 RESPONSIBILITY STATEMENT:
 
 The Directors confirm that:-
 
 a) 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;
 
 b) They have selected such accounting policies and applied them
 consistently and made judgements 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 or Loss
 of the Company for that period.
 
 c) To the best of their knowledge and information, they 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; and
 
 d) They have prepared the annual accounts on a going concern basis.
 
 AUDITORS:
 
 The Auditors, M/s.B.B.Naidu & Co., Chartered Accountants, Chennai,
 retire at the ensuing Annual General Meeting and have confirmed their
 eligibility and willingness to accept office, if reappointed. A
 certificate under Sec.224(1B) of the Companies Act, 1956 has been
 received from them together with the peer review certificate.
 
 With regard to the remarks in the Auditor''s Report, the financial note
 no.17(b) is self-explanatory.
 
 Further, the company''s reduced operations due to absence of credit
 facilities, had severe impact on the cash flows resulting in certain
 statutory dues falling in arrears and speedy steps are being taken to
 fulfill the obligations as soon as feasible.
 
 PARTICULARS OF EMPLOYEES:
 
 There is no employee, particulars of whom are to be furnished under
 Sec.217(2AA) of the Companies Act, 1956.
 
 RESEARCH & DEVELOPMENT:
 
 During the year under review the Company has spent Rs.1.66 lakhs
 towards upgradation of in-house Research & Development wing at its
 Super Phosphate factory.
 
 ACKNOWLEDGEMENT:
 
 Your Directors place on record their appreciation of the valuable
 support and help of the Financial Institutions, Government
 authorities, Banks and Employees. The cooperation and the forbearance
 of the members are gratefully acknowledged.
 
                                    On behalf of the Board of Directors
                                                      Pradip D. Kothari 
                                           Chairman & Managing Director
 Place: Chennai 
 Date: 12.11.2014
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `995 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `853 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `729 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1002 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `922 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `1176 Cr की बिकवाली
  • ENTERS IN F&O BAN : SAIL के F&O में नई पोजीशन पर रोक
  • STILL IN F&O BAN : EQUITAS, BHEL, GLENMARK, I-BULLS HSG

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