Punctual Trading Ltd. के निदेशक की रिपोर्ट

Mar 31, 2024

Your Directors have pleasure in submitting their 38^th Annual Report of the Company together
with the Audited Statements of Accounts for the year ended 31^st March, 2024.

1. FINANCIAL RESULTS

The Company''s financial performance for the year under review along with previous year''s
figures are given hereunder:

(Audited) (Amount in Rs. Lakhs)

Particulars	Financial Year	Financial Year
	ended 31.03.2024	ended 31.03.2023
Total Revenue	230.72	194.56
Total Expenses	56.12	32.08
Profit Before Tax	174.60	162.48
Less :
Tax Expense
Current Tax	12.55	22.05
Deferred Tax	0.23	5.44
Income Tax of Earlier Years	0.04	(3.11)
Profit After Tax	161.78	138.10

2. REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS

The total revenue of the financial year 2023-24 is Rs. 230.72 lakhs as against the total revenue for
of Rs. 194.56 lakhs for the previous financial year 2022-23. During the year under review, the
Company earned a profit after tax of Rs. 161.78 lakhs as against the Profit after tax of previous
year of Rs. 138.10 lakhs.

3. RESULT OF OPERATIONS AND THE STATE OF THE COMPANY''S AFFAIRS

The Company is presently engaged in activities of investment in shares and securities and
renting of immovable properties.

4. THE CHANGE IN THE NATURE OF BUSINESS, IF ANY

There was no change in the nature of business of the Company during the year.

5. DIVIDEND

In order to conserve resources for the development of business of the Company, no Dividend
is being proposed for the current financial year.

6. CHANGE IN CAPITAL STRUCTURE

During the year under review, there has been no any change in the paid Capital of the
Company. The paid-up capital of the Company stood at 10,00,000 equity Shares of Rs. 10/-
each.

7. TRANSFER TO GENERAL RESERVE

During the year under review, your directors have not transferred any amount to general
reserves except the profit for the financial year 2023-24.

8. TRANSFER AMOUNT TO INVESTOR EDUCATION & PROTECTION FUND

As per the provisions of Section 125 of the Companies Act, 2013, deposits / dividend remaining
unclaimed for a period of seven years from the date they become due for payment have to
be transferred to Investor Education & Protection Fund (IEPF) established by the Central
Government.

During the year under review, there has been no any unclaimed deposit/dividend remaining to
transfer.

9. PUBLIC DEPOSITS

During the Financial Year 2023-24, your Company has not accepted any deposit within the
meaning of Sections 73 and 74 of the Companies Act, 2013 read together with the Companies
(Acceptance of Deposits) Rules, 2014 as amended up to date.

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Your Company is managed and controlled by a Board comprising an optimum blend of
Executives and Non-Executive Professional Directors. Ms. Deepa Bhavsar (DIN: 07167937),
Director, retires at this Annual General Meeting and being eligible offers herself for
reappointment.

All the Directors possess the requisite qualifications and experience in general corporate
Management, finance, banking and other allied fields which enable them to contribute
effectively to the Company in their capacity as Directors of the Company.

The Composition of the Board of Directors as on March 31,2024 as follows:

Name	Category	Designation	Date of appointm ent	Directorship in other Listed Companies	Chairmanship of Committees of Board of other Companies	Membership of Committees of Boards of other companies
Mr. Manoj Sidhakaran Dadhich (*)	Executive and Non Independent Director	Whole Time Director	10th September, 2003
Mrs. Deepa Rupesh Bhavsar	Non Executive and Non Independent Director	Non Executive Director	28th May, 2015	3		3
Mr. Nikunj Hasmukh Shah(**)	Non Executive and Independent Director	Independent Director	31st March, 2015	1	1	1
Ms. Anushka Joann Jain	Non Executive and Independent Director	Independent Director	28th March, 2022
Mr. Ajay Kailashchand Jain	Non Executive and Independent Director	Independent Director	19th October, 2023	1	2

* Mr. Manoj Sidhakaran Dadhich resigned w.e.f 1 7.06.2024
** Mr. Nikunj Hasmukh Shah is resigned w.e.f. 21.10.2023

11. KEY MANAGERIAL PERSONNEL(S) (KMP)

Pursuant to Section 203 of the Companies Act, 2013 read with The Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, In addition to Whole Time Director, the
Company has employed the Company Secretary and Chief Financial Officer of the Company
as Key Managerial Personnel.

Following were the KMP during the Financial Year ended 31^st March, 2023

Name and Designation	Date of change
Mr. Manoj Dadhich - Whole Time Director	-
Ms. Sonia Omprakash Chhajer - Company Secretary and Compliance officer	-
Mr. Jeevan Jadhav-Chief Financial Officer*	Resigned w.e.f 05/08/2023
Mr. Akash Sukhdev Swami*	Appointed w.e.f. 27/01/2024

* Mr. Jeevan Jadhav has resigned as CFO w.e.f 05/08/2023 and Mr. Akash Sukhdev Swami has
been appointed as CFO w.e.f. 27/01/2024

i) Subsequent to year end, Manoj Dadhich has resigned as Whole Time Director w.e.f. 17th June
2024.

ii) Subsequent to year end, Deepak Ramchandra Pawar was appointed as Whole Time Director
w.e.f. 10th August 2024.

12. COMMITTEES OF THE BOARD

Following are the Committees of the Board of Director during the year ended 31^st March, 2024:

> Audit Committee

> Nomination & Remuneration Committee

> Stakeholder Relationship Committee

13. A STATEMENT REGARDING OPINION OF THE BOARD WITH REGARD TO INTEGRITY, EXPERTISE
AND EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT DIRECTOR APPOINTED
DURING THE YEAR.

During the year Mr. Ajay Kailashchand Jain appointed as Independent Director w.e.f 19/10/2023
during the financial year 2023-24.

14. DIRECTORS RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board
hereby submits its responsibility Statement:—

(a) in the preparation of the annual accounts, the applicable accounting standards had been
followed along with proper explanation relating to material departures;

(b) the directors had 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 and
loss of the company for that period;

(c) the directors had taken proper and sufficient care 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;

(d) the directors had prepared the annual accounts on a going concern basis; and

(e) the directors, had laid down internal financial controls to be followed by the company and
that such internal financial controls are adequate and were operating effectively. Internal
financial control means the policies and procedures adopted by the Company for ensuring the
orderly and efficient conduct of its business including adherence to Company''s policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and
completeness of the accounting records and the timely preparation of reliable financial
information.

(f) the directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.

15. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report as stipulated under Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2018 ("SEBI LODR
Regulations") is given separately forming part of this Annual Report.

16. REPORT ON CORPORATE GOVERNANCE

Since the paid-up capital of the Company is less than Rs. 10.00 Crore and Net Worth of the
Company is less than Rs. 25.00 Cr, the Provisions of Corporate Governance are not applicable
on the Company in terms of Securities and Exchange Board of India (Listing Obligation and
Disclosure requirement) Regulations, 2015.

17. AUDITORS

(i) Statutory Auditors

M/s. SVP & Associates, Chartered Accountants (ICAI Registration no. 003838N) , Mumbai were
appointed as an Statutory Auditor of the Company for a period of 5 years, from the conclusion
of 35^th Annual General Meeting till the conclusion of the 40^th Annual General Meeting hereafter.

(ii) Secretarial Auditor & the Secretarial Audit Report

Mr. Harshad Pusalkar, proprietor of M/s Pusalkar & Co., Practicing Company Secretaries (Firm
Unique Code S2020MH771800) was appointed as Secretarial Auditor by the Board of Directors
for the financial year 2023-24 and his report is attached separately to this report. The Board
ensures the Compliances with respect to observation mentioned in the report in the future.

18. INTERNAL AUDIT

In accordance with provisions of section 138 of the Companies Act, 2013 and rules framed
thereunder, your Company has appointed M/s. N T B and Co. (Firm Registration No. 140489W),
Chartered Accountants as an Internal Auditors of the Company for the Financial year 2022-23
and 2023-24 and takes their suggestions and recommendations to improve and strengthen the
Internal Control Systems.

19. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS OTHER THAN THOSE WHICH ARE
REPORTABLE TO THE CENTRAL GOVERNMENT

The Statutory Auditors or Secretarial Auditors or Internal Auditor of the Company have not
reported any frauds to the Audit Committee or to the Board of Directors under Section 143(12)
of the Companies Act, 2013, including rules made thereunder.

20. COMPLAINCE WITH SECRETRIAL STANDARDS

The Board of Directors affirms that the Company has complied with the applicable Secretarial
Standard issued by the Institute of Company Secretaries of India (ICSI) {SS 1 and SS2} respectively
relating to meetings of Board and Committees which have mandatory applications.

21. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE
COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL
STATEMENTS RELATE AND THE DATE OF THE REPORT

No material changes and commitments affecting the financial position of the Company
occurred between the end of the financial year to which this financial statements relate on the
date of this report.

22. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS
AND OUTGO

The disclosures required to be made under the provisions of Section 134(3) (m) of the Companies
Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 in respect of conservation
of energy, technology absorption is not applicable to the Company as the Company is not
involved in any manufacturing processing.

The Company mainly engaged in the renting and investment activities. Foreign exchange
earnings and outgo of the Company are Nil during the financial year 2023-24.

23. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE
SOCIAL RESPONSIBILITY INITIATIVES

The Company has not developed and implemented any Corporate Social Responsibility
initiatives as the said provisions are not applicable on your Company.

24. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE
COMPANIES ACT, 2013

There were no loans, guarantees or investments made by the Company under Section 186 of
the Companies Act, 2013 during the year under review and hence the said provision is not
applicable.

25. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

Disclosure in Form AOC-2 is furnished as an annexure to this report with respect to contract or
arrangements made with related parties as defined under Section 188 of the Companies Act,
2013 during the year under review.

26. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR
DISCLAIMERS MADE BY THE AUDITORS IN THEIR REPORTS

There were no qualification, reservation or adverse remarks made by the either by the Auditors.

27. COMPANY''S POLICY RELATING TO DIRECTORS'' APPOINTMENT, PAYMENT OF REMUNERATION
AND DISCHARGE OF THEIR DUTIES

The Company has formulated a policy known as Nomination and Remuneration Policy to
govern the appointment and payment of remuneration to directors and KMPs. The said policy
is available on website www.punctualtrading.com.

28. ANNUAL RETURN

Annual Return referred to in sub-section (3) of section 92 of the Companies Act, 2013 ("the Act")
can be viewed on the Company''s website www.punctualtrading.com.

29. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW

The Company held 8 (Eight) Board meetings during the financial year under review.

30. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company does not have any Subsidiary, Joint venture or Associate Company during the
financial year 2023-24.

31. DECLARATION OF INDEPENDENT DIRECTORS

The Independent Directors have submitted their disclosures to the Board that they fulfill all the
requirements as stipulated in Section 149(6) of the Companies Act, 2013 so as to qualify
themselves to be appointed as Independent Directors under the provisions of the Companies
Act, 2013 and the relevant rules.

32. RISK MANAGEMENT POLICY

Pursuant to Section 134(3)(n) of the Companies Act, 2013, the Company has developed and
implement the Risk Management Policy for the Company including identification therein of
elements of risk, if any, which is in the opinion of the Board may threaten the existence of the
Company. These are discussed at the meeting of the Audit Committee and the Board of
Directors of the Company.

At present, the Company has not identified any element of risk which may threaten the
existence of the Company.

33. DISCLOSURE OF COMPOSITION OF COMMITTEE AND PROVIDING VIGIL MECHANISM

The Company has established a vigil mechanism and overseas through the Audit committee,
the genuine concerns expressed by the employees and other Directors. The Company has also
provided adequate safeguards against victimization of employees and Directors who express
their concerns. The Company has also provided direct access to the chairman of the Audit
Committee for reporting issues concerning the interests of co employees and the Company.
The Whistle Blower Policy is available on the website of the company viz.,
www.punctualtrading.com.

34. SHARES

a. BUY BACK OF SECURITIES

The Company has not bought back any of its securities during the year under review.

b. SWEAT EQUITY

The Company has not issued any Sweat Equity Shares during the year under review.

c. BONUS SHARES

No Bonus Shares were issued during the year under review.

d. EMPLOYEES STOCK OPTION PLAN

The Company has not provided any Stock Option Scheme to the employees.

35. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO
THE FINANCIAL STATEMENTS

The Company has a formal system of internal control testing which examines the operational
effectiveness to ensure reliability of financial and operational information and all statutory /
regulatory compliances. The Company has a strong monitoring and reporting process resulting
in financial discipline and accountability.

36. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATIONS IN
FUTURE

No significant and material orders have been passed by the regulators or courts or tribunals,
impacting the going concern status and company''s operations in future.

37. HUMAN RESOURCES

There are no employees as on date on the rolls of the Company who are in receipt of
Remuneration which requires disclosures under Section 134 of the Companies Act, 2013 and
Companies (Particulars of Employees) Rules, 1975. During the year under review, relationship
with the employees is cordial.

38. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013

Your Company has always believed in providing a safe and harassment free workplace for
every individual working in the premises of the Company. Your Company always endeavors to
create and provide an environment that is free from discrimination and harassment including
sexual harassment.

In view of the same, your Company has adopted a policy on prevention, prohibition and
redressal of Sexual Harassment at Workplace in line with the requirements of the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the
rules framed there under for prevention and redressal of complaints of sexual harassment at
workplace.

During the year under review, your Company has not received any complaint from any of its
employee, hence, no complaint is outstanding for redressal.

39. FORMAL ANNUAL EVALUATION

The Nomination and Remuneration Committee of the Company has formulated Evaluation
Policy during the year, which was approved by the Board of Directors. The Policy provides for
evaluation of the Board, the Committee of the Board and individual Directors, including the
Chairman of the Board.

The policy provides that evaluation of the performance of the Board as a whole, Board
Committees and Directors shall be carried out on an annual basis.

40. FAMILIARISATION PROGRAM

The company regularly communicates with all Independent Directors to provide detailed
understanding of the activities of the company including specific projects either at the meeting
of the Board of Directors or otherwise. The induction process is designed to build an
understanding of the company''s business and the markets to equip the Directors to perform
their role on the Board effectively. Independent Directors are also taken through various business
situations, nature of the industry, business model etc. by way of presentations and discussions.
The details of directors induction and familiarization are available on the company''s website at
www.punctualtrading.com.

41. DISCLOSURES BY DIRECTORS

The Board of Directors have submitted notice of interest in Form MBP 1 under Section 184(1) as
well as intimation by directors in Form DIR 8 under Section 164(2) and declarations as to
compliance with the Code of Conduct of the Company.

42. ACKNOWLEDGEMENTS

Your Directors place on record their sincere thanks to bankers, business associates, consultants,
and various Government Authorities for their continued support extended to your Companies

activities during the year under review. Your Directors also acknowledges gratefully the
shareholders for their support and confidence reposed on your Company.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Sd/- Sd/-

DEEPAK RAMCHANDRA PAWAR DEEPA RUPESH BHAVAR
WHOLE TIME DIRECTOR DIRECTOR

DIN: 08088083 DIN: 07167937

Place: Mumbai
Date: 28^th August, 2024

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Mar 31, 2014

Dear Members

The Directors have pleasure in presenting the 28th Annual Report of your Company together with the audited financial results for the year ended on 31st March, 2014.

Financial Results

(Amount in Rs.)

Particulars For the year ended For the year ended 31st March, 2014 31stMarch 2013

Total Income 39,82,325 11,022,347

Profit before Depreciation & Tax 26,45,803 10,287,106

less: Depreciation 185,839 213,810

profit /(Loss) Before Tax 24,59,964 10,073,296

Less: Provision for Tax 7,27,602 2,216,627

Less : Increasing (Decreasing) in DeferrednTax Liablities _ (10,011)

let Profit / (Loss) After Tax 17,32,362 7,866,679

Performanre

During the year the total income is Rs. 39,82,325/-as against Rs. 11,022,347/- of the previous year. Barring unforeseen contingencies, the performance of the Company in the year 2013-14 is expected to be satisfactory.

Dividend

In order to conserve resources for the development of business of the Company, the Board of Directors regrets their inability to recommend dividend for the year 2013-14.

Directors

Mr. Subodh Agrawal retires by rotation at the ensuing Annual General Meeting and is being eligible for reappointment.

Fixed Deposits

The Company has not accepted deposits from the public during the period under review.

Auditors

M/s Joy Dalia & Co., Chartered Accountants, Mumbai, hold office as statutory auditors of the Company until the conclusion of the ensuing Annual General Meeting. It is proposed to reappoint them as Statutory Auditors of the Company from the conclusion of the ensuing Annual General Meeting until the conclusion of the next Annual General Meeting pursuant to the provisions of Section 224 (1B) of the Companies Act, 1956. Your Company has received a certificate from M/s Joy Dalia & Co., Chartered Accountants confirming their eligibility for reappointment.

Particulars of Employed

During the year under report, the Company had not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

Canservation of Energy. Technology absorption. ForeiPn Exchange Earning & Outgo

During the year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

Compliance Certificate

As required under Section 383(A)(1) of the Companies Act, 1956, Compliance Certificate from Secretary in Whole-time practice is attached herewith.

Directors'' Responsibility Statement

The Directors confirm that:

I. In the preparation of the annual accounts, the applicable accounting standards have been followed.

II. Appropriate accounting polices have been selected and applied 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 period ended on that date.

III. Proper and sufficient care have 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.

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

For and on behalf of the Board of Directors PUNCTUAL TRADING LIMITED



Subodh Agrawal Manoj Dadhich Din:01993001 Din:00374923 Place : Mumbai Date : 28.05.2014

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Mar 31, 2013

To, The Members

The Directors have pleasure in presenting the 27th Annual Report of your Company together with the audited financial results for the year ended on 31st March, 2013.

Financial Results

(Amount in Rs.)

Particulars For the year ended For the year ended 31st March, 2013 31st March, 2012

Total Income 11,027.47 4,744,739

Pofit before Depreciation & Tax 10,287,106 2,535,587

Less: Depreciation 213,810 238,599

Profit / (loss) Before Tax 10,073,296 2,296,988

Less : Provision for Tax 2,216,627 944,629

Less : Increasing (Decreasing) in Deferred (10,011) (73,728)

Tax Liablities

Net Profit / (Lossf Alter Tax 7,866,679 1,426,088

Performance

During the year the total income is Rs. 11,022,347/- as against Rs. 4,744,739/- of the previous year and the profit before depreciation and tax during the year is Rs. 10,287,106/-. Barring unforeseen contingencies, the performance of the Company in the year 2012-13 is expected to be satistactory.

Dividend

In order to conserve resources for the development of business of the Company, the Board of Directors regrets their inability to recommend dividend for the year 2012-13.

Directors

Mr. Bijay Kumar Saraf retires by rotation at the ensuing Annual General Meeting and is being eligible for reappointment.

Fjyed Deposits

The Company has not accepted deposits from the public during the period under review.

Auditors

M/s Joy Dalia & Co., Chartered Accountants, Mumbai, hold office as statutory auditors of the Company until the conclusion of the ensuing Annual General Meeting. It is proposed to reappoint them as Statutory Auditors of the Company from the conclusion of the ensuing Annual General Meeting until the conclusion of the next Annual General Meeting pursuant to the provisions of Section 224 (IB) of the Companies Act, 1956. Your Company has received a certificate from M/s Joy Dalia & Co., Chartered Accountants confirming their eligibility for reappointment.

Particulars of Employees

During the year under report, the Company had not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

Conservation of Energy. Technology absorption. Foreign Exchange Earnings & Outgo

During the year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(l)(e) of the Companies Act, 1956 read with Com^nies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

Compliance Certificate

As required under Section 383(A)(1) of the Companies Act, 1956, Compliance Certificate from Secretary in Whole-time practice is attached herewith.

Directors'' Responsibility Statement

The Directors confirm that:

I. In t^e preparation of the annual accounts, the applicable accounting standards have been followed.

II. Appropriate accounting polices have been selected and applied 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 period ended on that date.

III. Proper and sufficient care have 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.

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

For and on behalf of the Board of Directors

PUNCTUAL TRADING LIMITED

Director Director

Place : Mumbai

Date -.28.05.2013

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Mar 31, 2012

The Directors have pleasure in presenting the 26th Annual Report of your Company together with the audited financial results for the year ended on 31st March, 2012.

Financial Results

(Amount in Rs.)

Particulars For the year ended For the year ended 31st March, 2012 31st March, 2011

Total Income 4,744,739 12,689,364

Profit before Depreciation & Tax 2,535,587 11,577,440

Less : Depreciation 238,599 266.622

Profit / (Loss) Before Tax 2,296,988 11,310,818

Less : Provision for Tax 944,629 2,623,037

Less : Increasing (Decreasing) in (73,728) (37,544)

Deferred Tax Liabilities

Net Profit / (Loss) After Tax 1,426,088 8,725,325

Performance

During the year the total income is Rs. 4,744,739/- as against Rs. 12,689,364/- of the previous year and the profit before depreciation and tax during the year is Rs. 2,535,587/-. Barring unforeseen contingencies, the performance of the Company in the year 2011-12 is expected to be satisfactory.

Dividend

In order to conserve resources for the development of business of the Company, the Board of Directors regrets their inability to recommend dividend for the year 2011-12.

Directors

Mr. Manoj Dadhich retires by rotation at the ensuing Annual General Meeting and is being eligible for reappointment.

Fixed Deposits

The Company has not accepted deposits from the public during the period under review.

Auditors

M/s Joy Dalia & Co., Chartered Accountants, Mumbai, hold office as statutory auditors of the Company until the conclusion of the ensuing Annual General Meeting. It is proposed to reappoint them as Statutory Auditors of the Company from the conclusion of the ensuing Annual General Meeting until the conclusion of the next Annual General Meeting pursuant to the provisions of Section 224 (1B) of the Companies Act, 1956. Your Company has received a certificate from M/s Joy Dalia & Co., Chartered Accountants confirming their eligibility for reappointment.

Particulars of Employees

During the year under report, the Company had not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

Conservation of Energy, Technology absorption, Foreign Exchange Earnings & Outgo

During the year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

Compliance Certificate

As required under Section 383(A)(1) of the Companies Act, 1956, Compliance Certificate from Secretary in Whole-time practice is attached herewith.

Directors' Responsibility Statement

The Directors confirm that:

I. In the preparation of the annual accounts, the applicable accounting standards have been followed.

II. Appropriate accounting polices have been selected and applied 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 period ended on that date.

III. Proper and sufficient care have 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.

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

For and on behalf of the Board of Directors PUNCTUAL TRADING LIMITED

Director Director

Place : Mumbai Date : 29.05.2012

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Mar 31, 2010

The Directors have pleasure in presenting the 24th Annual Report of your Company together with the audited financial results for the year ended on 31 st March, 2010

Financial Results

(Amount in Rs.)

Particulars For the year ended For the year ended 31st March, 2010 31st March, 2009

Total Income 1,12,53,058 1,21,65,735

Profit before Depreciation & Tax 1,07,18,671 1,13,70,181

Less : Depreciation 2,98,425 2,58,229

Profit/ (Loss) Before Tax 1,04,20,246 1,11,11,952

Less : Provision for Tax 23,09,890 24,28,157

Less : Provision for Frienge Benefit Tax" - 113

Less: Increasing (Decreasing) in (92,214) (1,88,331)

Deferred Tax Liablities_ Net Profit / (Loss) After Tax 82,02,570 88,72,013 Performance

During the year the total income is Rs. 1,12,53,058/-as against Rs. 1,21,65,735/-of the previous year and the profit before depreciation and tax during the year is increased from Rs.1,13,70,181/- to Rs.1,07,18,671/-. Barring unforeseen contingencies, the performance of the Company in the year 2010-11 is expected to be satisfactory.

Dividend

In order to conserve resources for the development of business of the Company, the Board of Directors regrets their inability to recommend dividend for the year 2009-10.

Directors

Mr. Bijay Kumar Saraf retires by rotation at the ensuing Annual General Meeting and is being eligible for reappointment.

Fixed Deposits

The Company has not accepted deposits from the public during the period under review.

Auditors

M/s Joy Dalia & Co., Chartered Accountants, Mumbai, hold office as statutory auditors of the Company until the conclusion of the ensuing Annual General Meeting It is proposed to reappoint them as Statutory Auditors of the Company from the conclusion of the ensuing Annual General Meeting until the conclusion of the next Annual General Meeting pursuant to the provisions of Section 224 (1B) of the Companies Act, 1956. Your Company has received a certificate from M/s Joy Dalia & Co , Chartered Accountants confirming their eligibility for reappointment.

Particulars of Employees

During the year under report, the Company had not employed any employee whose particulars are required to be disclosed in this report pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

Conservation of Energy, Technology absorption. Foreign Exchange Earnings &Outgo

During the year under review, the Company had not carried out any activity, the particulars in respect of which are required to be disclosed in this report pursuant to section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

Compliance Certificate

As required under Section 383(A)(1) of the Companies Act, 1956, Compliance Certificate from Secretary in Whole-time practice is attached herewith.

DirectorsResponsibility Statement

The Directors confirm that:

I. In the preparation of the annual accounts, the applicable accounting standards have been followed.

II. Appropriate accounting polices have been selected and applied 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 period ended on that date.

III. Proper and sufficient care have 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.

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

For and on behalf of the Board of Directors

PUNCTUAL TRADING LIMITED

Director Director

Place : Mumbai Date : 29.05.2010