Teknomin Aqua Exports(I) Ltd. के निदेशक की रिपोर्ट

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting before you the 23rd Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2014.

FINANCIAL RESULTS:

OPERATIONS OF THE COMPANY:

The details of operating results for the year are furnished below :

(Rupees in lacs) Particulars 2013-2014 2012-2013

01 Gross Turnover * 14.79 3.66

02 Profit / (Loss) Before Tax -10.13 -7.48

03 Profit / (Loss) After Tax -10.13 -7.48

04 Equity Share Capital 557.01 557.01

Your Directors are making every effort for improving its business and profitability.

PERFORMANCE:

During the year 2013-14, the Company has achieved a turnover of 14.79 amounts and incurred a net profit/loss (10.13).

Directors

In accordance with the requirements of the Companies Act, 2013 Shri B.Krishna Murthy and Shri P.Parndhamaiah Directors of the Company are liable to retire by rotation at the Annual General Meeting and, being eligible, offer themselves for reappointment at the ensuring Annual General Meeting.

Brief resume of the Directors proposed to be reappointed, nature of their expertise in specific functional areas, names of the companies in which they hold directorships and relationships between directors inter-se, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, are provided in the Report on Corporate Governance.

Statutory Auditors

Pursuant to the provisions of Section 139(2) of the Companies Act, 2013, on rotation of audit firms, and based on the recommendation of the Audit Committee, the Board has re-appointed M/s. HANUM AIAH&CO Chartered Accountants, Vijayawada as the Statutory Auditors of the Company to hold office from conclusion of this Annual General Meeting to the Conclusion of the next Annual General Meeting. M/s. HANUMAIAH&CO Chartered Accountants, Vijayawada, have confirmed that the appointment, if made, would be within the prescribed limits under Section 141 of the Companies Act, 2013. Accordingly, the appointment of M/s. HANUMAIAH&CO,Chartered Accountants, Vijayawada, as the Statutory Auditors, is being proposed as an Ordinary Resolution.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

as per Clause 49 of the Listing Agreement, a Management Discussion & Analysis Report is given below:

Overview

Regarding Company Business

During the year the company has continued the implementation of its aqua culture and the same is work-in-progress.

Internal Control Systems and their academy

The Company has adequate internal control systems commensurate with the size of its operations and for the purpose of exercising adequate controls of the day-to-day operations. Systems are regularly reviewed to ensure effectiveness. Opportunities and Threats The opportunities we see are in the new areas which your Company has entered into. Your directors also place on record their deep sense of appreciation of the services of the staff and workers of the Company, who have contributed for the administration of the Company''s affairs. We see no major threat in the coming year other than what was earlier. Fixed Deposits:

The Company has not accepted any deposits from the public in terms of Section 58A of the Companies Act, 1956

Particulars of Employees:

It is to report that there are no employees drawing salary of Rs.2,00,000/- or more p.m. or Rs.24,00,000/ - or more per year or part thereof.

Your directors also place on record their deep sense of appreciation of the services of the staff and workers of the Company, who have contributed for the administration of the Company''s affairs.

Directors Responsibility Statement:

Pursuant to the requirements under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors'' Responsibility Statement, it is hereby confirmed that:

i) in the preparation of the annual accounts, the applicable accounting standards read with requirements set out under Schedule VI to the Companies Act, 1956, have been followed and there are no material departure from the same;

ii) the Directors have 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 as at March 31, 2014 and profit for the year ended on that date;

iii) 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 for preventing and detecting fraud and other irregularities and

iv) the Directors have prepared the annual accounts of the Company on a going concern'' basis.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Out Go:

The particulars relating to Conservation of Energy, Technology absorption, Foreign Exchange earnings and outgo as required under section 217 (1) (e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are as follows

a) Conservation of Energy

The company''s operations require low energy consumption. Adequate measures are taken to conserve energy whenever possible.

b) Technology absorption, Adoption and Innovation

There is no information to be furnished regarding Technology Absorption as your Company has not undertaken any research and development activity in any manufacturing activity nor any specific technology is obtained from any external sources, which needs to be absorbed or adopted.

c) Foreign Exchange earnings and outgo: Nil

Corporate Governance:

In pursuance of Clause 49 of the Listing Agreement entered into with the stock exchanges, a separate section on Corporate Governance has been incorporated in the annual report for the information of shareholders. A certificate from the auditors of the Company regarding compliance with the conditions of Corporate Governance as stipulated under Clause 49 also forms part of the annual report.

Acknowledgements:

Your Directors wish to place on record their gratitude to the Company''s shareholders, customers, vendors and bankers for their continued support to the company growth initiatives. Your Directors also wish to place on record, their appreciation of the contribution made by employees at all levels, who through their competence, sincerity, hard work, solidarity and dedicated support, have enabled your Company to make rapid strides in its business initiatives Your Directors also thank the Central and State Governments and their various agencies and other Governmental agencies for extending their support during the year, and look forward to their continued support.



Place : Vijayawada. For and on behalf of the Board of Directors Date : 19-8-2014 Sd/- Sd/- ( P.Mastan Rao) (B.Krishna Murthy) Chairman & Managing Director Director/C.F.O

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Mar 31, 2011

Dear Members,

The Directors have pleasure in submitting the 20th Balance Sheet and Profit & Loss a/c of your Company together with the auditors report thereon.

1. REVIEW OF OPERATIONS:

The working results of the Company for the year are furnished as follows

(Rs.in Lakhs)

SI. Particulars Year Year No. Ended Ended 31-03-11 31-03-10

01. Sales 31.00 29.97

02. Other Income 62.14 17.85

03. Total Expenditure 20.51 41.14

04. Profit/Loss before Interest, Depr. & Taxes (Loss) 72.63 06.68

05. Interest - - 06. Depreciation 10.83 12.75

07. Provision for Tax - -

08. Net Profit/(Loss) 61.80 (-) 06.06

09. Equity Share Capital 558.50 558.50

In view of huge adminstrative loss the company continues to lease out its ponds during the year also.

2. DIRECTORS:

The Directors of the Company Sri B.KrishnaMurthy and Sri P.Paramdamaiah retire by rotation in this meeting in pursuance of Article 105 of the Articles of Association and being eligible offer themselves for re-appointment. The Board recommends their- appointment of these Directors.

3. AUDITORS:

M/s. HANUMAIAH & Co., Chartered Accountants, statutory auditors of the Company will retire at the conclusion of the Annual General Meeting and are being eligible and offer themselves for re-appoint- ment.

4. EMPLOYEES:

It is to report that U/S217 (2A) of the Companies Act, 1956 that there are no employees drawing salary of Rs. 2,00,000/- or more p.m. or Rs.24,00,000/- or more per year or part there of.

Your directors also place on record their deep sense of appreciation of the services of the staff and work- ers of the Company, who have contributed for the administration of the Company's affairs.

5. INFORMATION U/S 217(1) (e):

Particulars U/S 217(l)(e) of the Companies Act, 1956 and the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 are given below:

(a) Conservation of Energy:

The Company is making all efforts for conservation of energy.

(b) Technology Absorption:

The hatchery with 60 Million Shrimp Seed capacity is being operated under the Technical advice of Mr. Suresh jhoshi an experience technician in this line.

(c) Foreign Exchange Earnings & Outgoings:

(Rs. in Lakhs) Particulars For the For the Year Year 2010-11 2009-10

Foreign Exchange Earnings - Nil - - Nil-

Foreign Exchange Outgo - Nil - - Nil-

06. CORPORATE GOVERNANCE:

Your Company has complied with the provisions of Clause 49 of the Listing Agreement relating to Cor- porate Governance and believes that the initiatives on Corporate Governance will assist the Manage- ment in the efficient conduct of the business and in meeting its obligation to all its shareholders.

A report on Corporate Governance and a certificate from the Auditors of the Company regarding com- pliance of conditions of Corporate Governance as required under Clause 49 of the Listing Agreement is attached to this report.

07. DIRECTORS' RESPONSIBILITY STATEMENT:

As required under the Companies Act, 1956, your Directors wish to state:

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

(b) That the they have selected such accounting poli- cies and applied them consistently and made judge- ments and estimates that were reasonable and pru- dent 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 or loss of the Company for the year under review;

(c) That they 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 assets of the Company and for preventing and detecting fraud and other irregularities; and

(d) That they have prepared the accounts for the year ended 31st March, 2011 on a 'going concern' basis.

08. ACKNOWLEDGEMENT:

Your Directors are thankful to the Financial Institu- tions and Bankers for their continued support during the year under review and acknowledge with grati- tude the help extended by the Central Government and the Government of Andhra Pradesh. Your Di- rectors are equally grateful to the customers, suppli- ers and to you for the confidence reposed and the valuable support extended.

We further express our sincere thanks to MPEDA.

By order of the Board

(P. Mastan Rao) Chairman/Managing Director

Place : Vijayawada Date : 20-08-2011.

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Mar 31, 2010

The Directors have pleasure in submitting the 19th Balance Sheet and Profit & Loss a/c of your Company together with the auditors report thereon.

1. REVIEW OF OPERATIONS:

The working results of the Company for the year are furnished as follows

(Rs.in Lakhs) SI. Particulars Year Year

No. Ended Ended

31-03-10 31-03-09

01. Sales 29.97 ---

02. Other Income 17.85 13.60

03. Total Expenditure 41.14 15.76

04. Profit/Loss before

Interest, Depr. &

Taxes (Loss) 06.68 (-) 2.16

05. Interest - 42.12

06. Depreciation 12.75 14.88

07. Provision for Tax -- --

08. Net Profit/(Loss) (-) 06.06 (-) 59.16

09. Equity Share Capital 558.50 558,50



The Company has executed a one-time settle- ment of its dues with the State Bank of India and paid the amount. Similarly the Company is continu- ing its efforts for settling the dues with the other Banks of SBI Consortium.

2. DIRECTORS:

The Directors of the Company Sri J. Vishnu Prasad retire by rotation in this meeting in pursuance of Article 105 of the Articles of Association and being eligible offer themselves for re-appointment. The Board recommends their-appointment of these Di- rectors.

The Company Ponds given lease for the year.

3. AUDITORS:

M/s.HANUMAIAH & Co., Chartered Accountants, statutory auditors of the Company will retire at the conclusion of the Annual General Meeting and are being eligible and offer themselves for re-appoint- ment.

4. EMPLOYEES:

It is to report that U/S217 (2A)of the Companies Act, 1956 that there are no employees drawing salary of Rs.2,00,000/- or more p.m. or Rs.24,00,000/- or more per year or part there of.

- Your directors also place on record their deep sense of appreciation of the services of the staff and work- ers of the Company, who have contributed for the administration of the Companys affairs.

5. INFORMATION U/S 217(l)(e):

Particulars U/S 217(l)(e) of the Companies Act, 1956 and the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 are given below:

(a) Conservation of Energy:

The Company is making all efforts for conservation of energy.

(b) Technology Absorption:

The hatchery with 60 Million Shrimp Seed capacity is being operated under the Technical advice of Mr.Suresh jhoshi an experience technician in this line.

(c) Foreign Exchange Earnings & Outgoings:

(Rs.in Lakhs)

Particulars For the For the

Year Year

2009-10 2008-09

Foreign Exchange Earnings - Nil - - Nil-

Foreign Exchange Outgo - Nil - - Nil-



06. CORPORATE GOVERNANCE:

Your Company has complied with the provisions of Clause 49 of the Listing Agreement relating to Cor- porate Governance and believes that the initiatives on Corporate Governance will assist the Manage- ment in the efficient conduct of the business and in meeting its obligation to all its shareholders.

A report on Corporate Governance and a certificate from the Auditors of the Company regarding com- pliance of conditions of Corporate Governance as required under Clause 49 of the Listing Agreement is attached to this report.

07. DIRECTORS RESPONSIBILITY STATEMENT:

As required under the Companies Act, 1956, your Directors wish to state:

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

(b) That the they have selected such accounting poli- cies and applied them consistently and made judge- ments and estimates that were reasonable and pru- dent 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 or loss of the Company for the year under review;

(c) That they 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 assets of the Company and for preventing and detecting fraud and other irregularities; and

(d) That they have prepared the accounts for the year ended 31st March, 2010 on a going concern basis.

08. ACKNOWLEDGEMENT:

Your Directors are thankful to the Financial Institu- tions and Bankers for their continued support during the year under review and acknowledge with grati- tude the help extended by the Central Government and the Government of Andhra Pradesh. Your Di- rectors are equally grateful to the customers, suppli- ers and to you for the confidence reposed and the valuable support extended.

By order of the Board

Sd/-

(P.Mastan Rao) Chairman/Managing Director

Place : Vijayawada

Date : 10-07-2010.