Your Directors hereby present the Twentieth Annual Report on the business of theCompany, together with the Audited Statement of Accounts for the financial year ended on 30thSeptember, 2012.
1. FINANCIAL HIGHLIGHTS:
| ||2011-2012 ||2010-2011 |
| ||CURRENT YEAR ||PREVIOUS YEAR |
| ||(1/10/2011 TO 30/9/2012) ||(1/10/2010 TO 30/9/2011) |
| ||Rupees ||Rupees |
|NET SALES ||13,875 ||4,09,250 |
|GROSS PROFIT/(LOSS) BEFORE DEPRECIATION ||5,62,070 ||1,74,087 |
|DEPRECIATION ||11,104 ||13,558 |
|PROVISION FOR TAXATION ||- ||- |
|NET PROFIT/(LOSS) AFTER TAX ||(5,59,299) ||1,60,529 |
2. CURRENT YEARS' & FUTURE REVIEW
The Company's operations were at a low level. The Company is in the process of makingof revival /diversification plan.
3. DIVIDEND :
No Dividend is recommended for the year 2011 -2012 by the Board of the Directors.
The Company is environment friendly as the Company's Products are organic and free fromToxic- residues and based on Natural substances and no pollution is caused to theenvironment.
Production Center : There is no Pollution from the Factories of the Company and theenvironment is kept clean.
Farm Sources : Since the company is encouraging pesticide-free farming, it is helpingin keeping the environment clean on the farms.
Shri Ashok K Rajani is retiring by rotation and offers himself for re-appointment.
6. DIRECTORS' RESPONSIBILITY STATEMENT:
Statement under sub-section (2AA) of section 217 of the Companies Act, 1956:
In the preparation of the Annual Accounts:
i) The applicable accounting standards have been followed and wherever required, properexplanations relating to the material departures have been given.
ii) The directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of the Company at the end of the financial year and of the profitor loss of the Company for the period.
iii) Proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities.
iv) The accounts have been prepared on a going concern basis.
7. PUBLIC DEPOSITS:
The Company does not have nor it has invited any Public Deposits.
8. STAFF AND LABOUR:
There are no employees of the Company drawing Rs. 25000/ or more per month at any timeduring the year.
The Auditors are to be appointed from the date of this Annual General Meeting till theconclusion of the next Annual General Meeting and their Remuneration is to be fixed. Theretiring Auditors M/S BATLIBOI & PUROHIT, CHARTERED ACCOUNTANTS, Mumbai are eligiblefor re-appointment.
10. CONSERVATION OF ENERGY AND FOREIGN EXCHANGE EARNINGS AND OUTGO :
The energy consumed in the production process is Negligible and does not offer scopefor any significant conservation of energy.
|TOTAL FOREIGN EXCHANGE EARNED AND USED : ||Rs. |
|Foreign Exchange Earned : ||NIL |
|Foreign Exchange Used : ||NIL |
11. RESEARCH AND DEVELOPMENT:
No research has been conducted this year.
12. MATERIAL CHANGES AND COMMITMENTS:
There were no material changes and commitments during the year.
| ||FOR AND ON BEHALF OF THE BOARD |
| ||Sd/- |
|Place: Mumbai ||DILIP S. DAHANUKAR |
|Date: 12/12/2012 ||(Chairman) |