Sri Malini Spinning Mills Ltd. के निदेशक की रिपोर्ट

Mar 31, 2013

The Board of Directors of your company have pleasure in presenting the Twenty Third Annual Report of the Company together with the audited statements of account for the year ended 31st March, 2013.

1. The financial results are as follows :

Amount in lacs of Rupees

Particulars 2012-2013 2011-2012

Sales including other income 106.83 246.65

Profit/Loss before interest and Depreciation (21.01) (13.55)

Financial Cost 98.74 244.32

Depreciation - -

Prior Period Adjustments 5.27 -

Profit / Loss before Taxation (15.74) (13.55)

Deferred Tax - -

Add : Loss brought forward from the Previous Year 1300.80 (1287.25)

Net Loss carried to Balance Sheet (1316.54) (1300.80)

DIVIDEND:

As the Company has incurred loss, payment of dividend could not be considered.

REVIEW OF OPERATIONS AND FUTURE OUTLOOK :

DURING THE PERIOD UNDER REVIEW THE COMPANY INCURRED A NET LOSS OF RS.15.74 LACS. THE ONLY REVENUE TO THE COMPANY IS BY WAY OF LEASE RENT RECEIVED FROM M/S.THIRUVALLUVAR TEXTILES PRIVATE LIMITED, POST BOX NO.6, 2-9, SINGALANDAPURAM PRIVU ROAD, RASIPURAM-637 408.

DIRECTORS RESPONSIBILITY STATEMENT:

The Board of Directors of the Company confirms :

1. That in the preparation of the AtSim^ii3^GOuntB,vme»applteable:atxoafltmgiStandaFCte have been followed and there has been no material departure.

2. That selected accounting policies were applied consistently and the 3. That proper and sufficient care has been taken for the accounting records in, accordance with the provisions of the Companies Act,, 1956 for safe guarding assets of the Company and for preventing and detecting fraud and other irregularities.

4. That the Annual accounts have been prepared on a going concern basis.

DIRECTORS

MANAGERIAL REMUNERATION

Sri. S. Rajendran, the director of the company, retiring by rotation and being eligible and willing for re-appointment offers himself for the same.

PARTICULARS OF EMPLOYEES

During the year under review, there were no employees within the purview of Section 217(2A) of the Companies Act, 1956. Information as required under Section 217(1) (e) is Nil.

APPOINTMENT OF WHOLE TIME COMPANY SECRETARY

The office of the whole time company secretary is vacant and the board is taking necessary steps to fill the vacancy at the earliest.

PERSONNEL

Your Directors wish to place on record their deep appreciation of the good work performed by the employees. Cordial relationship is maintained with all the employees of the company. Your Directors look forward to the same in future.

ACKNOWLEDGEMENT

Your Directors wish to thank various Government Agencies, the Banks and other Institutions for their continued co-operation and support to the Company.

For Sri Malini Spinning Mills Limited

Salem S. RAJENDRAN K.S.S. PRAKKAASH

30.05.2013. Director. Executive Director