Prakash Solvent Extractions Ltd. के निदेशक की रिपोर्ट

Mar 31, 2011

The Directors have pleasure in presenting the Annual Report along with the audited statement of Accounts for the year ended 31st March 2011 .

FINANCIAL RESULTS

The highlights of the financial results for the Current financial year ended 31st March 2011 are :

Rs in Lakhs 31.3.2010 31.3.2011

TOTAL INCOME

Sales 445.18 336.49

TOTAL 445.18 336.49

TOTAL EXPENDITURE

Raw Materials 389.12 296.60

Operations and Other Exp 48.06 31.32

Depreciation 5.88 3.21

Profit / (Loss) 2.10 2.50

OPERATIONS

During the year the company has made profit. There is an decrease in the turnover as compared to the previous year. The Profit for the current year is Rs.2.50 lakhs as compared to Rs.2.10 lakhs in the previous year.

FUTURE PROSPECTS

In lieu of the recessionary trend in the market in general the outlook for the current year is not very attractive. The Company is trying hard to recover the fixed and variable costs and it has also adopted various cost reduction measures.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of clause 49 of the Listing agreement with the Stock exchange, the Management Discussion and analysis Report is appended to this report.

CORPORATE GOVERNANCE

Your company has always strived to incorporate appropriate standards for good corporate governance. As a listed Company, all required measures are taken to comply with the Agreement with the Stock Exchanges. A separate report on Corporate Governance along with a Certificate from the Auditor form part of this report.

AUDITORS REPORT

The Auditors have drawn your attention to specific point in their report. The notes are self-explanatory.

DIVIDEND

In view of conversing the resources and the new commitments in terms of the Order book position, the Directors are unable to Declare any Dividend for the current year.

PARTICULARS REGARDING CONSERVATIONS OF ENERGY ETC.

Information in accordance with the provisions of Section 217 (1) (E) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the Report of the Board of Directors ) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is attached in Annexure I and forms part of Annual report.

PARTICULARS OF EMPLOYEES

The information required U/S 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Amendment Rules, 1988 is not attached as no Employee is in receipt of remuneration in excess of Rs.24,00,000 p.a. ,if employed for the whole of the year or Rs.200,000 p.m. if employed for part of the year.

AUDITORS

M/s Ajay B Garg, Chartered Accountant retire at this Annual General Meeting and are eligible for re-appointment as Auditors.

DIRECTORS :

Mr Ramesh T Punjabi , Directors of the company retire by rotation and being eligible , offer themselves for reappointment. The Board of Directors recommend their reappointment.

DIRECTORS RESPONSIBILITIES :

Pursuant to Section 217 (2A) of the Companies Act, as amended by the Companies Act, 2000 the Directors confirm that :

a. In the preparation of the annual accounts , the applicable accounting standards have been followed along with proper explanations relating to material departures, if any.

b. Appropriate accounting policies have been selected and applied consistently and have made judgment and estimates that are reasonable and prudent , so as to give a true and fair view of the state of affairs of the company as on 31st March 2011 and of the Profit of the Company for the year ended 31st March 2011.

c. Proper and sufficient care has been taken 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 for preventing and detecting fraud and other irregularities.

d. The annual accounts have been prepared on a going concern basis.

INTERNAL CONTROL SYSTEMS :

The Company always believes that free hand in functioning, transparency , systems and controls combined together are important factor in the success and growth of any organization.

Audit committee of Directors is responsible for implementing adequate systems and controls for all the activities in the Company. They monitor, strengthen and modify these from time to time to meet the changing requirements of the Company.

FIXED DEPOSITS :

The Company has not accepted and or renewed fixed deposits from the public, during the year ended 31st March 2011.

ACKNOWLEDGEMENTS :-

Your Directors wish to take this opportunity to express deep sense of gratitude to the Financial institutions and especially M/s HDFC Bank and Union Bank for continued guidance and support.

At this point the Directors would also like to place sincere appreciation for the total commitment, dedication and hard work put in by the , Staff and the Workers of the Company for its success.

FOR AND ON BEHALF OF THE BOARD

For Prakash Solvent Extractions Ltd.

T. Punjabi

CHARIMAN

Date : 12TH AUGUST 2011.

---

Mar 31, 2010

The Directors have pleasure in presenting the Annual Report along with the audited statement of Accounts for the year ended 31st March 2010 .

FINANCIAL RESULTS

The highlights of the financial results for the Current financial year ended 31st March 2010 are :

Rs in Lakhs

31.3.2010 31.3.2009 TOTAL INCOME

Sales 445.18 1301.02

TOTAL 445.18 1301.02

TOTAL EXPENDITURE

Raw Materials 389.12 1131.85

Operations and Other Exp. 48.06 155.91

Depreciation 5.88 6.56

Profit / (Loss) 2.10 6.68

OPERATIONS

During the year the company has made Profit. There is an decrease in the turnover as compared to the previous year. The Profit for the current year is Rs.2.10 lakhs as compared to Rs. 6.68 lakhs in the previous year.

FUTURE PROSPECTS

In lieu of the recessionary trend in the market in general the outlook for the current year is not very attractive. The Company is trying hard to recover the fixed and variable costs and it has also adopted various cost reduction measures.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of clause 49 of the Listing agreement with the Stock exchange, the Management Discussion and analysis Report is appended to this report.

CORPORATE GOVERNANCE

Your company has always strived to incorporate appropriate standards for good corporate governance. As a listed Company, all required measures are taken to comply with the Agreement with the Stock Exchanges. A separate report on Corporate Governance along with a Certificate from the Auditor form part of this report.

AUDITORS REPORT

The Auditors have drawn your attention to specific point in their report. The notes are self-explanatory.

DIVIDEND

In view of conversing the resources and the new commitments in terms of the Order book position, the Directors are unable to Declare any Dividend for the current year.

PARTICULARS REGARDING CONSERVATIONS OF ENERGY ETC.

Information in accordance with the provisions of Section 217 (1) (E) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the Report of the Board of Directors ) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is attached in Annexure I and forms part of Annual report.

PARTICULARS OF EMPLOYEES :- The information required U/S 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees ) Amendment Rules, 1988 is not attached as no Employee is in receipt of remuneration in excess of Rs.24,00,000 p.a. ,if employed for the whole of the year or Rs.200,000 p.m. if employed for part of the year.

AUDITORS :- M/s Ajay B Garg, Chartered Accountant retire at this Annual General Meeting and are eligible for re-appointment as Auditors. DIRECTORS :

Mr Laxmichand T Punjabi , Directors of the company retire by rotation and being eligible , offer themselves for reappointment. The Board of Directors recommend their reappointment.

DIRECTORS RESPONSIBILITIES :

Pursuant to Section 217 (2A) of the Companies Act, as amended by the Companies Act, 2000 the Directors confrm that :

a. In the preparation of the annual accounts , the applicable accounting standards have been followed along with proper explanations relating to material departures, if any.

b. Appropriate accounting policies have been selected and applied consistently and have made judgment and estimates that are reasonable and prudent , so as to give a true and fair view of the state of affairs of the company as on 31st March 2010 and of the Profit of the Company for the year ended 31st March 2010.

c. Proper and sufficient care has been taken 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 for preventing and detecting fraud and other irregularities.

d. The annual accounts have been prepared on a going concern basis.

INTERNAL CONTROL SYSTEMS :

The Company always believes that free hand in functioning, transparency , systems and controls combined together are important factor in the success and growth of any organization.

Audit committee of Directors is responsible for implementing adequate systems and controls for all the activities in the Company. They monitor, strengthen and modify these from time to time to meet the changing requirements of the Company.

FIXED DEPOSITS :

The Company has not accepted and or renewed fixed deposits from the public , during the year ended 31st March 2010.

ACKNOWLEDGEMENTS :-

Your Directors wish to take this opportunity to express deep sense of gratitude to the Financial institutions and especially M/s HDFC Bank and Union Bank for continued guidance and support.

At this point the Directors would also like to place sincere appreciation for the total commitment, dedication and hard work put in by the , Staff and the Workers of the Company for its success.

FOR AND ON BEHALF OF THE BOARD

For Prakash Solvent Extractions Ltd.

T.Punjabi CHARIMAN.

Date : 9TH AUGUST 2010.