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सिद्धार्थ सुपर स्पिनिंग मिल्स निदेशकों की रिपोर्ट, सिद्धार्थ सुपर स्पिनिंग मिल्स निर्देशकों द्वारा रिपोर्ट

सिद्धार्थ सुपर स्पिनिंग मिल्स

बीएसई: 503857  |  NSE: N.A  |  ISIN:  |  Textiles - Spinning - Synthetic Blended

खोजें सिद्धार्थ सुपर स्पिनिंग मिल्स कनेक्शन
निदेशकों की रिपोर्ट वर्षांत : Mar '06
 The Directors are hereby pleased to present the 25th Annual Report
 together with Audited statement of accounts for the period ended 31st
 March 2006.
 
 OPERATING RESULTS:                   For the Period  For the Period
                                      2005-06          2004-05 
                                      (For 15 months) (For 9 months)
                                      (Rs. in Lacs)   (Rs. In Lacs)
                                         
 GROSS PROFIT                           28.60          (321.73) 
 FINANCIAL EXPENSES                     18.74             1.12
 PROFIT BEFORE DEPRECIATION              9.86          (322.85)  
 LESS : DEPRECIATION                   132.31            81.61
 PROFIT/LOSS FOR THE YEAR             (122.45)         (404.46)
 LESS : EXPENDITURE/INCOME                
 OF THE EARLIER YEAR                     0.02           355.66  
 PROFIT/LOSS ON INVESTMENT               NIL            NIL   
 RESERVE WRITTEN BACK                    NIL             26.16
 BALANCE BROUGHT FORWARD              (2999.07)       (2265.11)
 BALANCE AVAILABLE FOR APPROPRIATION 
 TRANSFER GENERAL RESERVE                NIL             NIL 
 PROPOSED DIVIDEND                       NIL             NIL
 BALANCE CARRIED TO BALANCE SHEET     (3121.54)       (2999.07)              
 
 YEAR UNDER REVIEW
 
 The management of the company has been trying to re company as a Sick
 company under SICA, vide its Order dated 7.6.2005. The financial
 institutions and bank have already given their consent to the O.T.S.
 The rehabilitation scheme has been sanctioned by the B.I.F.R., vide its
 Order dated 17th May, 2006. In accordance with the rehabilitation
 scheme the management of the company has been changed. Secondly the
 reduction of the existing equity by 90% and subsequently the new equity
 is being issued as per the sanctioned scheme by B.I.F.R. 
 
 FIXED DEPOSITS: The Company has not accepted any new fixed deposits.
 The company re-paid part of the outstanding deposits during the period.
 
 AUDITORS: K.G. Somani & Co., Chartered Accounts, Statutory Auditors of
 the company, holding office until the conclusion of the ensuing Annual
 General Meeting and the Board recommends for their re-appointment. 
 
 AUDITORS REPORT
 Observation in the Auditros Report are dealt with in the Notes of
 Accounts. The replies to the qualifications of Auditors are as under:
 The retirement benefits shall be paid on cash basis as and when falls
 due. The company is a sick company with continue losses. The company is
 facing liquidity crunch as such it defaulted in payment of statutory
 dues including PF & ESI. The management is well aware of its
 responsibility towards statutory dues and is striving hard to pay of
 the dues as early as possible. The company has made arrangements with
 the PF & ESI Depts. to clear the pending amount in installments. The PF
 Dept. has granted us 36 monthly installments @ Rs. 4.70 lacs per month
 vide their letter no. C-ll/8/(1)/2004/HP dated 19th Feb.2004.
 Similarly, installments for ESI has been granted @ Rs. 2 lacs per month
 and both the installments are being deposited regularly. The interest
 payable to financial institutions/ banks has been waived off as per
 O.T.S. sanctioned by them and the rehabilitation scheme has been
 sanctioned by the BIFR.
 
 PARTICULARS OF EMPLOYEES:
 
 None of the employee is covered Under Section 217(2A) of the Companies
 Act, 1956 read with Companies (Particulars of Employees) Rules, 1975. 
 
 CONSERVATION OF ENERGY/TECHNOLOGY ASBORPTION, FOREIGN EXCHANGE,
 EARNINGS AND OUTGO:
 
 The information as required u/s 177 (I) (e) of the Companies Act 1956
 read with Companies (disclosure of particulars in the Report of Board
 of Directors) Rules 1988 is annexed. 
 
 DIRECTORS RESPONSIBILITY STATEMENT:
 
 As required u/s 217 (2AA) of the companies Act, 1956 the Directors
 states that:
 
 1. That in the preparation of annual accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departures. 
 
 2. That Directors had 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 or
 loss of the company for that period.
 
 3. That Directors 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. That Directors have prepared the annual accounts on going concern
 basis.
 
 CORPORATE GOVERNANCE REPORT:
 
 The details of Corporate Governance Report is annexed.
 
 LISTING OF SHARES:
 
 The company is listed with Ahmedabad Stock Exchange and Delhi Stock
 Exchange.
 
 ACKNOWLEDGEMENT:
 
 The Board records their appreciation for the dedicated services
 rendered by all ranks of the companys personnel. 
                               
                              For and on behalf of the Board 
 Date: 24th May, 2006
                               CHAIRMAN
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • BREAKING NEWS LOWER : मुनाफे से घाटे में आई कंपनी (YoY)
  • BREAKING NEWS LOWER : `230 Cr मुनाफे के मुकाबले `389 Cr का घाटा
  • BREAKING NEWS LOWER : आय `5684 Cr से घटकर `651 Cr (YoY)

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