| The Directors are pleased to present their Annual Report on the
Business and operations of the Company together with the Audited
Statement of Accounts for the year ended 31st March, 2015.
FINANCIAL RESULTS
The financial performance of your Company for the year ended March 31,
2015 is summarized below:
(Rupees in Lacs)
Particulars 2014-2015 2013-2014
Sales 1733.63 3379.01
Other Income 7.57 37.05
Total Income 1741.20 3416.06
Total Expenses 1691.80 3386.47
Profit/(Loss)Before Tax 49.41 29.59
Tax - -
Current Tax 15.00 8.00
Deferred Tax - -
Net Profit After Tax 34.41 21.59
The year was extremely challenging for the Company. Although the
volumes has decreased, but Company has been able to generate more
profit i.e. of Rs. 34.41 lacs (previous years Rs. 21.59 lacs), due to
cost control, better product mix & efficient management.
FUTURE OUTLOOK:
Your Company is currently focusing its resources in the business
segments of shares & securities. The Company is also trying to venture
into profitable activities during the year, so as to have maximized
return of its capital.
DIVIDEND:
The Board of Directors does not recommend any Dividend for the year
under review
SUBSIDIARY COMPANIES:
The Company does not have any subsidiaries, Joint Venture & Associates
Company.
ACCEPTANCE OF FIXED DEPOSTIS:
The Company has not accepted any Fixed Deposits from general public
within the purview of Section 73, of the Companies Act, 2013, during
the year under review.
AUDITORS:
The Statutory Auditors, Mr. Chirag Mehta, Chartered Accountants, had
been appointed to hold office until the conclusion of the ensuing
Annual General Meeting; however he is also eligible for re- appointment
and his willingness for re-appointment have been intimated to the
Company well in advance. Further he has also confirmed that he is not
disqualified for re- appointment within the meaning of Section 141 of
the Companies Act, 2013 and his appointment, if made would be within
the limits specified in Section 139 of the said Act.
Pursuant to the provisions of section 139 of the Companies Act, 2013
and the Rules made there under, the current auditors of the Company,
Mr. Chirag Mehta, Chartered Accountants, is eligible to hold the office
for a period of Five years up to 2019. The members are therefore
requested to appoint Mr. Chirag Mehta, Chartered Accountants as
auditors for three years from the conclusion of the ensuing annual
general meeting till the conclusion of the annual general meeting to be
scheduled in 2019 subject to ratification at each year AGM and to fix
their remuneration for the year 2014-15.
AUDITORS REPORT:
The observations and comments furnished by the Auditors in their report
read together with the notes to Accounts are self- explanatory and
hence do not call for any further comments under Section 134 of the
Companies Act, 2013.
DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the requirement of Section 134 (5) of the Companies
Act, 2013, the Board of Directors of the Company confirms:
i. In the preparation of the annual accounts for the financial year
ended 31st March, 2015 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 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 and loss of the Company for the year ended 31st March, 2015.
iii. That the Directors have taken sufficient and proper care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of
the Company and for preventing and detecting material fraud and other
irregularities. And
iv. That the Directors have prepared the Annual Accounts on a going
concern basis.
v. There are no material changes & commitments, if any, 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 & the date of the report.
vi. That there no contracts or arrangement with related parties
referred to in sub-section (1) of section 188.
CORPORATE GOVERNANCE:
As per clause 49 of the listing agreement with stock exchanges, a
separate section on Corporate Governance forms part of the Annual
Report.
A certificate from the Auditors of your Company regarding compliance of
conditions of Corporate Governance, as stipulated under clause 49 of
the Listing Agreement and a declaration by the Executive Director with
regard to Code of Conduct is attached to the Report on Corporate
Governance.
MANAGING DIRECTOR'S CERTIFICATE:
A Certificate from the Managing Director in respect of the Financial
Statements forms part of the Annual Report.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
Management Discussion and Analysis Report for the year under review, as
stipulated under clause 49 of the Listing Agreement with the Stock
Exchanges in India, is presented in a separate section forming part of
the Annual Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTIONS AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
The information relating to the conservation of energy, technology
absorption foreign exchange earnings and outgo under provisions of
134(3)(m) of the Companies Act, 2013 is not applicable to the Company,
considering the nature of its business activities. Further the Company
has not earned nor spends foreign exchange during the year under
review.
PARTICULARS OF EMPLOYEES:
None of the employees of the Company is in receipt of remuneration
prescribed under Section 197(12) of the Companies Act, 2013, read with
the Companies (Particulars of Employees) Rules, 1975. Thus furnishing
of particulars under the Companies (Particulars of Employees) Rules
1975 does not arise.
DIRECTORS:
During the year Mrs. Reshma Rajesh Malagavakar and Mr. Sunil Vishindas
Nagpal was appointed as Director w.e.f. 01st October, 2014 and 31st
July, 2014 respectively. Mr. Harishchandra Dhakatu Patade has resigned
as Directors of the Company w.e.f. 31st July, 2014.
The Board places on records its deep appreciation and respect for the
valuable advice and guidance received from Mr. Harishchandra Dhakatu
Patade during their tenure as Directors of the Company.
SIGNIFICANT AND MATERIAL ORDERS BY THE REGULATORS OR COURT
During the year under review, except the penalty of Rs 15730/- paid to
Bombay Stock Exchange towards late fee for delay in submission of
Annual Report, there were no significant and material orders passed by
the regulators or courts or tribunals, which may impact the going
concern status of the Company and its operations in future.
ACKNOWLEDGEMENT:
Yours Directors take this opportunity to thank the Financial
Institutions, Banks, Business Associates, Central and State Government
authorities, Regulatory authorities, Stock Exchanges and all the
various stakeholders for their continued co-operation and support to
the Company and look forward to their continued support in future.
We very warmly thank all of our employees for their contribution to
your Company's performance. We applaud them for their superior levels
of competence, dedication and commitment to your Company.
By Order of the Board
For Yantra Natural Resources Limited
Sd/- Sd/-
Dhiresh Munver Sunil Nagpal
Managing Director Director
DIN - 02782239 DIN - 06799707
Place: Hyderabad
Date: 31st August, 2015
|