| To the Members of the Company,
The Directors have pleasure in presenting the Ninth Annual Report on
the business and operations of your Company with Audited Accounts for
the year ended 31st March 2012. The financial results of the Company
are summarized below:
FINANCIAL RESULTS:
(Rs.in Lacs)
PARTICULARS YEAR ENDED
31ST MARCH
2012 YEAR ENDED
31ST MARCH
2011
Sales & Projects Income 3,511.77 3,334.56
Profit before Interest, Depreciation & Tax 383.62 310.05
Less :- Interest & Finance Charges 115.72 84.64
Less :- Depreciation 16.86 17.85
Profit before Tax 251.04 207.56
Less :- Provision for Tax 50.03 41.37
Less :- Provision for Deferred Tax -1.34 -6.56
Profit after Tax 202.35 172.75
Balance carried to Balance Sheet 202.35 172.75
YEAR IN RETROSPECT:
The turnover of the company has increased 5.33% from Rs. 3333.08 Lacs
in previous year to Rs. 3510.81 Lacs in current year. EBITDA increased
by 23.73%fromRs. 310.04 Lacs in previous year to Rs. 383.62 Lacs in
current year. PAT increased by 20.95% from Rs. 207.56 Lacs in previous
year to Rs. 251.04 Lacs in current year.
DIVIDEND:
With a view to plough back profits in the business, your directors do
not recommend any dividend for the year under review and profit after
tax is carried forward to next year to augment revenues.
BUSINESS OUTLOOK:
With the availability of the funds, your company has started on the
path of exponential growth. Your Company plans to retain its exposure
in the providing solutions for fire fighting, BMS and other allied
activities.
Yours company through the recently concluded public offering has plans
to diversify itself by venturing in to Crushing Plants comprising of
two-stage semi portable Crushing Plant and three-stage semi portable
Crushing Plant. Your company believes that this line of business
presents significant opportunity for the company and enhances the value
of shareholders investment and overall profitability of the company.
This will also enlarge the area of operations of the company and will
be in the interest of the members.
With the initiatives being taken by your company, the Board feels
confident of increasing turnover and profit substantially in the
ensuing financial years.
DIRECTORS:
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association, Mr. Anil Chandra, Director retires by rotation
at the ensuing Annual General Meeting and being eligible, offers
himself for reappointment.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to provisions of Section 217 (2AA) of the Companies Act, 1956
the Directors confirm that:
(i) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) Appropriate accounting policies have been selected and the
directors have 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 2011-2012 and of the profit and loss of the Company for the
period;
(iii) Proper and sufficient care has been taken 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) The annual accounts have been prepared on a going concern basis.
AUDITORS &COMMENTS ON AUDITOR'S REPORT
M/s. Ramanand & Associates, Chartered Accountants, retire at the
forthcoming Annual General Meeting and M/s Jain Vinay & Associates is
being eligible to offer themselves for appointment as an Auditor of the
Company. They have furnished the necessary certificate of their
eligibility under section 224 (1) (B) of the Companies Act, 1956.
Auditors Report
Auditors Report as issued by Ramanand & Associates, Chartered
Accountants, is self explanatory and do not call further clarification
by Board.
PUBLIC ISSUE AND LISTING:
Your Company came out with an Initial Public Offering (IPO) of
40,00,000 Equity Shares of the face value of Rs. 10 each at a price of
Rs. 20 (including share premium of Rs. 10) per Equity Share aggregating
to Rs 800 Lacs constituting 43.49% dilution to fully diluted post issue
capital. The IPO opened up for subscription on 28/06/2012 and closed on
02/07/2012. The allotment pursuant to this IPO has been concluded on
10/07/2012. The entire Equity Shares of Company has been listed on BSE
SME platform.
MANAGEMENT DISCUSSION AND ANALYSIS AND CORPORATE GOVERNANCE REPORT:
As required under Clause - 52 of the SME Listing Agreement of BSE
Limited, reports on Management Discussion and Analysis and Corporate
Governance together with the Certificate of Auditors on Corporate
Governance are provided separately in the Annual report and forms part
of Directors report.
PARTICULARS OF EMPOLYEES UNDER SECTION 217(2A);
The provisions of Section 217(2A) of the Companies Act, 1956 read with
the Companies (particulars of Employees) Rules 1988, as amended are not
applicable to the company, as there are no employees whose remuneration
is in excess of the limits prescribed.
ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE:
Information in accordance with the provisions of Section 217(1)(e) of
the Companies Act, 1956 read with the Companies (Disclosure of
particulars in the Report of Board of Directors) Rules, 1988 regarding
conservation of energy, technology absorption and foreign exchange
earnings and outgo is given in the Annexure - 1.
ACKNOWLEDGEMENT:
Your directors take this opportunity to place on record their warm
appreciation of the valuable contribution, unstinted efforts and the
spirit of dedication by the employees and officers at all levels in the
progress of the Company during the year under review. Your directors
also express their deep gratitude for the assistance, co-operation and
support extended to your company by the bankers, customers as well as
the investing community and look forward to their continued support.
By Order of the Board
Sd/-
Place : Mumbai Santhosh Balachandran
Dated :30.08.2012 Director |