Omni Dye-Chem Exports Ltd. के निदेशक की रिपोर्ट

Mar 31, 2010

The Members,

The Directors have pleasure in presenting the Seventeenth Annual Report together with Audited Statement of Accounts of the Company for the financial year 31st March, 2010.

FINANCIAL RESULTS

(Rs. In Lacs)

Particulars Current Year Previous Year

Sales/Income from operation 523.20 377.11

Other Income 21.04 18.92

Profit/(loss) before Depreciation (58.80) 4.34

Depreciation 30.37 28.32 Profit / (Loss) after Depreciation before tax (89.18) (23.99)

Profit / (Loss) after Taxation (85.06) (21.71)

Balance carried to Balance Sheet 319.70 234.64



DIVIDEND

In view of the loss incurred during the year, your Directors are unable to recommend dividend for the year under review.

DEPOSITS

During the year under review, the Company has not accepted any deposits from the public.

DIRECTORS

Shri Minesh Amratlal Chudgar, Director of the Company retires by rotation and being eligible offers himself for the re-appointment.

Brief resume of the Director retiring by rotation at the ensuing Annual General Meeting, nature of the experience in specific functional areas and names of the Companies in which they hold the directorship and the membership / chairmanship of committees of the Board, as stipulated under clause 49 of the Listing Agreement with Stock Exchange, are given in the section on Corporate Governance elsewhere in the Annual Report.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956 with respect to Directors' Responsibility Statement, your Directors confirm:

(i) that in preparation of the annual accounts, all the applicable accounting standards have been followed;

(ii) that the Directors have 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 have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and preventing and detecting fraud and other irregularities;

(iv) that the Directors have prepared the Annual Accounts for the financial year ended 31st March, 2010 on a 'going concern' basis.

MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis Report as required under the Listing Agreement with the Stock Exchange is annexed hereto.

CORPORATE GOVERNANCE

The report on Corporate Governance as required under Clause 49 of the Listing Agreement is annexed hereto.

AUDITORS

The shareholders are requested to re-appoint M/s. Mehra Anil & Associates, Chartered Accountants, as the Auditors of the Company and to fix their remuneration. The Company has received a letter from the said Auditors to the effect that their re-appointment, if made, would be within the prescribed limits under Section 224(1-B) of the Companies Act, 1956.

Notes forming part of Accounts are self-explanatory and therefore, do not call for any further comments.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION ETC.

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 the particulars relating to conservation of energy, technology absorption and foreign exchange earnings and outgo are annexed as annexure 'A'.

PARTICULARS OF EMPLOYEES

There was no employee drawing remuneration in excess of limits prescribed under Section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

ACKNOWLEDGEMENT

Your Directors would like to place on record their grateful appreciation for assistance and co- operation received from the Banks, Government Authorities and Shareholders during the year under review. Your directors also express their deep sense of appreciation for the devoted services of the staff members and workers of the company.

Place: Ahmedabad For and on the Board of Directors, Date 31/08/2010

Chairman & Managing Director