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कुम्भत फायनांशियल सर्विसेस निदेशकों की रिपोर्ट, कुम्भत फायनांशियल सर्विसेस निर्देशकों द्वारा रिपोर्ट

कुम्भत फायनांशियल सर्विसेस

बीएसई: 526869  |  NSE: N.A  |  ISIN: INE795E01019  |  Finance - Leasing & Hire Purchase

खोजें कुम्भत फायनांशियल सर्विसेस कनेक्शन Mar 12
निदेशकों की रिपोर्ट वर्षांत : Mar '14
Dear Members,
 
 The Directors have pleasure in presenting the Twenty First Annual
 Report and Audited Statements of Account for the Financial year ended
 March 31,2014.
 
 FINANCIAL RESULTS:
 
                                            Current Year  Previous Year
                                          March 31, 2014  March 31, 2013
                                          (Rs. In Lakhs) (Rs. In Lakhs)
 
 Income from Operations                      53.20          46.30
 
 Profit before Depreciation
 
 and Provision for taxation                   9.92           7.89
 
 Less: Depreciation                           0.76           0.91
 
                                              9.16           6.98
 
 Less: Provision for taxation                 5.71           1.77
 
 Net Profit                                   3.45           5.21
 
 Add: Previous year''s surplus                27.30          24.09
 
 Amount available for appropriation          30.75          29.29
 
 Appropnations:
 
 Transfer to Statutory Reserve                2.00           2.00
 
 Transfer to General Reserve                 20.00           -
 
 Surplus carried to Balance Sheet             8.75          27.29
 
                                             30.75          29.29
 
 PERFORMANCE:
 
 During the year the Company achieved a Gross Income of Rs.53.20 lakhs
 as compared to Rs.46.3 lakhs during the previous year. The Profit
 before tax of the Company stood at Rs.9.16 lakhs as against Rs.6.98
 lakhs last year. During the year there were no major disbursements. The
 focus continued to be on recoveries and towards substantial reduction
 in operational cost. The net profit of the Company stood at Rs.3.45
 lakhs. During the year a sum of Rs.2 lakhs has been appropriated
 towards Statutory Reserve and Rs.20 lakhs towards General Reserve . The
 resultant profit of Rs.8.75 lakhs has been carried to the Profit and
 Loss Account.
 
 PRUDENTIAL NORMS FOR NBFCs
 
 The prudential norms prescribed by the Reserve Bank of India for NBFC''s
 for income recognition, provisioning for non performing assets and
 other directions issued from time to time in this regard are followed
 by the Company. The Company has complied with the capital adequacy
 norms and other directions issued by the Reserve Bank of India in
 respect of Non Banking Financial Companies from time to time.
 
 DIVIDEND
 
 In order to strengthen the financial position of the company the
 directors have decided not to declare dividend for the year.
 
 DIRECTORS
 
 Sri. Shanti Kumbhat & Ajit Kumbhat retires at the end of this Annual
 General Meeting and being eligible, offer themselves for
 re-appointment.
 
 DEPOSITS
 
 The Company has not accepted any fixed deposit from the public.
 
 AUDITORS
 
 M/s. Krishnan & Giri, Chartered Accountants, Chennai retire at the
 forthcoming Annual General Meeting.  They have advised of their
 availability for re-appointment.
 
 PROSPECTS
 
 This year also witnessed consolidation in the NBFC sector wherein the
 financial position and profitability of the companies came under severe
 strain. Certain global majors also entered into the field which
 resulted in intense competition and there by resulting in reduction and
 interest rate. The directors are of the opinion that the same trend
 will continue in the coming years.
 
 COMPLIANCE CERTIFICATE
 
 The Company has obtained Compliance Certificate for the Year ended
 31.03.2014 from Mr.Murugan, Practicing Company Secretary.
 
 INFORMATION AS PER SECTION 217(1 )(e) OF THE COMPANIES ACT, 1956
 
 The Company has no activity relating to conservation of energy or
 technology absorption. The Company did not have foreign exchange
 earning or outgo.
 
 PERSONNEL
 
 The Company has no employee who is in receipt of remuneration in excess
 of the amount prescribed under section 217(2A) of the Companies Act,
 1956 read with the Companies (Particulars of Employees) Rules. 1975.
 
 In terms of section 217(2AA) of the Companies Act, 1956 your directors
 confirm as follows :
 
 i) that in the preparation of the annual accounts, the applicable
 accounting standards had been followed.
 
 ii) that the Directors had selected such accounting policies and
 applied them consistently which are reasonable and prudent so as to
 give a true and fair view of state of affairs of the company at the end
 of the financial year and of the financial year and of the profit or
 loss of the company for that year;
 
 iii) that the Directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguarding the assets of the company and
 for preventing and detecting fraud and other irregularities;
 
 iv) that the Directors had prepared the annual accounts on a going
 concern basis.
 
 CORPORATE GOVERNANCE
 
 A Separate Report on Corporate Governance is incorporated as a part of
 this Annual Report along
 
 with Auditor''s Statement on its compliance, as prescribed under clause
 49 of the Listing Agreement.
 
 ACKNOWLEDGEMENTS:
 
 Your Directors wish to place on record their deep appreciation of the
 services of the Managing Director and the members of the staff 
 of the company.
 
                                       For and On behalf of the Board
 Chennai                                         Shanti Kumbhat
 Date: 25/08/2014                               Managing Director
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `556.72 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `908.64 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `4263.60 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `705.91 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `2731.71 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `667.27 Cr की खरीदारी
  • MARKET CUES : स्टॉक ऑप्शंस में `158.71 Cr की खरीदारी
  • ENTERS IN F&O BAN : SAIL फ्यूचर एंड ऑप्शन बैन में
  • STILL IN F&O BAN : Voda Idea फ्यूचर एंड ऑप्शन बैन में बरकरार
  • STILL IN F&O BAN : Glenmark Ph फ्यूचर एंड ऑप्शन बैन में बरकरार

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