Castron Technologies Ltd. के निदेशक की रिपोर्ट

Mar 31, 2010

The Directors have the pleasure in presenting their Annual Report together with the audited accounts of the Company for the year ended 31st March, 2010.

FINANCIAL RESULTS YEAR ENDED YEAR ENDED 31.03.2010 31.03.2009

Profit/(Loss) for the year 13,641,719 28,276,021

Less: Provision for Income Tax 4,959,382 7,917,868

" Provision for Fringe Benefit Tax - 164,445

" Short Provision for IT for earlier year 1,034 -

Add: Deferred Tax Asset/(Provisioii for Deferred Tax) 19,439 (2,355,554)

Profit/(Loss) after Taxation 8,700,742 17,838,154

Balance of Profit brought forward from last year 2,885,617 25,079,784

11,586,361 42,917,938

APPROPRIATION

General Resereve 1,000,000 30,000,000

Proposed Dividend 8,575,000 8,575,000

Tax on Dividend 1,457,321 1,457,321

DIVIDEND

The Directors recommend for your consideration, at the ensuing annual general meeting, payment of dividend of Rs. 5.00 per equity share of Rs. 10/- each on 1715000 shares for the year ended 31.03. 2010. The total dividend outgo including tax thereon will be Rs. 1.003 crore.

The dividend payout for the year under review has been recommended in accordance with the companys policy of keeping in view the companys need for capital and its growth plans. Your Directors believe this would be in the long-term interest of the shareholders.

DIRECTORS

Sri Ashok Choudhary retires by rotation at the ensuing annual general meeting and being eligible offers himself for the re- appointment

AUDITORS REPORT!

Observations by the aviditors are explained in Note No. (2)(vi) of schedule-17 attached to the Balance Sheet.

DIRECTORS RESPONSIBILITY STATEMENT Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 with respect to Directors Responsibility Statement it is hereby confirmed :

i) that in the preparation of the annual accounts for the financial year ended 31st March, 2010, the applicable accounting standards except as stated in note No. 2 (vi) of Schedule 17 on notes on accounts, had been followed along with proper explanation relating to material departures:

ii) that the directors had selected such accounting policies and applied them consistently and made judgements and estimates that were 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 of the company for the year under review;

iii) that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) that the directors had prepared the accounts for the financial year ended 31st March, 2010 on a going concern basis.

AUDITORS

Messrs ASHOK KEDIA & COMPANY, Chartered Accountants, the auditors of the company retire at the forth coming Annual General Meeting of the company and are eligible for re-appointment.

PARTICULARS OF EMPLOYEES - None of the employees were in receipt of remuneration aggregating to Rs. 24,00,000/- or more per year of Rs. 2.00,000/- or more per month when employed for part of the year.

CONSERVATION OF ENERGY

The company has installed sufficient energy saving devices and systems to consume energy. The Company is making efforts to keep its staff and workmen aware of energy conservation and is exploring alternative energy systems wherever necessary.

TECHNOLOGY ABSORPTION

As the Company is not using any imported technology, no information regarding technology absorption is to be given.

FOREIGN EXCHANGE EARNINGS AND OUTGOINGS

a) Foreign exchangjb earnings : 67,25,000

b) Foreign exchangfe ougto : NIL

The Directors are pleased to record appreciation for co-operation and devotion of the employees of the company i at all levels during the current period.

For and on behalf of the Boards

Registered Office :

8, Waterloo Street,

Kolkata - 700 069.

Dated the 3rd Day of September, 2010.

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Mar 31, 2009

The Directors have the pleasure in presenting their Annual Report together with the audited accounts of the Company for the year ended 31st March, 2009.

FINANCIAL RESULTS YEAR ENDED YEAR ENDED

31.03.200,9 31.03.2008

Profit/(Loss) for the year 28,276,021 21,563,739

Less Provision for Income Tax 7,917,868 5,100,000

Provision for Fringe Benefit Tax 164,445 100,085

Short Provision for IT for earlier year - 231,595

Add: Deferred Tax Asset/(Provision for Deferred Tax) (2,355,554) (1,110,795)

Profit/(Loss) after Taxation 17,838,154 15,021,264

Balance of Profit brought forward from last year 25,079,784 10,058,520

Amount available for appropriations 42,917,938 25,079,784



APPROPRIATION

General reserve 30,000,000 -

Proposed dividend 8,575,000 -

Tax on dividend 1,457,321 -

Balance carried forward to Balance Sheet 2,885,617 25,079,784

2,885,617 25,079,784



DIVIDEND

The Directors recommend for your consideration, at the ensuing annual general meeting, payment of dividend of Rs. 5.00 per equity share of Rs. 10/- each on 1715000 shares for the year ended 31.03. 2009. The total dividend outgo including tax thereon will be Rs. 1.003 crore.

The dividend payout for the year under review has been recommended in accordance with the companys policy of keeping in view the companys need for capital and its growth plans. Your Directors believe this would be in the long-term interest of the shareholders.

DIRECTORS

Sri Atul Kumar Agarwalla has been appointed as a whole time director of the company with effective from 1st October 2008.

Sri Jiwanram Agarwalla retires by rotation at the ensuing annual general meeting and being eligible offers himself for the re-appointment.

AUDITORS REPORT

Observations by the auditors are explained in Note No. (2)(vi) of schedule-17 attached to the Balance Sheet.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 with respect to Directors

Responsibility Statement it is hereby confirmed :

i) that in the preparation of the annual accounts for the financial year ended 31st March, 2009, the applicable accounting standards except as stated in note No. 2 (vi) of Schedule 17 on notes on accounts, had been followed along with proper explanation relating to material departures:

ii) that the directors had selected such accounting policies and applied them consistently and made judgements and estimates that were 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 of the company for the year under review;

iii) that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) that the directors had prepared the accounts for the financial year ended 31st March, 2009 on a going concern basis.

AUDITORS

Messrs ASHOK KEDIA & COMPANY, Chartered Accountants, the auditors of the company retire at the forth coming Annual General Meeting of the company and are eligible for re-appointment.

PARTICULARS OF EMPLOYEES

1 None of the employees were in receipt of remuneration aggregating to Rs. 24,00,000/- or more per year of Rs. 2.00,000/- or more per month when employed for part of the year.

CONSERVATION OF ENERGY

The company has installed sufficient energy saving devices and systems to consume energy. The Company is making efforts to keep its staff and workmen aware of energy conservation and is exploring alternative energy systems wherever necessary.

TECHNOLOGY ABSORPTION

As the Company is not using any imported technology, no information regarding technology absorption is to be given.

FOREIGN EXCHANGE EARNINGS AND OUTGOINGS

a) Foreign exchange earnings : 1,15,73,669

b) Foreign exchange ougto : NIL

The Directors are pleased to record appreciation for co-operation and devotion of the employees of the company at all levels during the current period.



For and on behalf of the Board

Registered Office :

8, Waterloo Street,

Calcutta - 700 069.

Director Certifled to be true copy

For Castron Technologies Ltd.

Directors