| The Directors have the pleasure in presenting the Twentieth Annual
Report and that of the Auditors together with the audited Balance Sheet
as at 31st March 2011 and the Profit and Loss account for the year
ended on that date.
FINANCIAL RESULTS Rs. IN LACS
Particular Year Ended Year Ended
31.3.2011 31.3.2010
1. Sales/Income from Operation 106.39 259.36
and Other Income
2. Total Expenditure 435.66 398.34
3. Tax 00.00 00.00
4. Net Profit (32.92) (128.36)
COURSE OF BUSINESS AND OUTLOOK
During the year progress has continued in the company's performance.
Your company had achieved a turnover of Rs. 106.09 lakhs The board of
directors have planned for further expansion for the current year which
will increase the turnover of the company substantially and in turn
will improve profitability of the company as well.
However there are great challenges ahead not only for your company but
for the industry as a whole. With the continued confidence of all our
associates, we will aggressively meet those challenges with renewed
faith in our company and the future that we all share.
FIXED DEPOSIT
The Company has not accepted any fixed deposit during the year.
DIRECTORS
Mr. Sushant Gupta Director of the Company retires at ensuing Annual
General Meeting and being eligible, offer himself for re-appointment.
The Board recommends her appointment.
AUDITORS
M/s. Naresh J Gupta & co., statutory Auditors of the company retire at
the conclusion of the ensuing Annual General Meeting and are being
eligible for re-appointment. Accordingly a resolution is being
submitted to the members for their re-appointment and to fix their
remuneration for the current year. The Board recommends their
re-appointment.
STATUTORY DISCLOSURES
Foreign Exchange earning and outgo: The total foreign exchange outgo
during the year was Rs. Nil towards the import of raw materials,
components and traveling. During the year the foreign exchange earning
was nil.
DIRECTORS RESPONSIBILITY STATEMENT
Directors hereby declare
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
2. 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 or loss of the Company for that period.
3. that the directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities subject to
the inherent limitations that should be recognized in weighing the
assurance;
4. The directors have prepared the annual accounts on a going concern
basis.
EMPLOYEE RELATIONS
Employee relations throughout the company were harmonious. The board
wishes to place on record its sincere appreciation of the devoted
efforts of all employees in advancing the company's vision and strategy
to deliver another record performance.
Pursuant to clause 49 of the listing agreement, a report of compliance
of corporate governance as on 31.03.011 duly certified by the auditors
of the company is annexed (Annexure-B)
AUDIT COMMITTEE
The audit committee shall meet at least thrice a year. One meeting
shall be held before finalization of annual accounts and one every six
months. LISTING OF EQUITY SHARES
Shares of your Company are listed on the Mumbai Stock Exchange.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
the support and co-operation of all the shareholders. On behalf of all
the company's stakeholders who benefit from the hard work of the
employees and continued assistance received from various state and
central government authorities, financial institutions and banks.
On behalf of the Board of Directors
Sd/- Sd/-
Place: New Delhi ANITA GUPTA HEMANT GUPTA
(DIRECTOR)
Date:15.07.11 (DIRECTOR) |