KPL International Ltd


BSE: 524119 | NSE: NA | ISIN: INE174B01013 
Market Cap: [Rs.Cr.] 0 | Face Value: [Rs.] 1000
Industry: Trading

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Director's Report

KPL INTERNATIONAL LIMITED ANNUAL REPORT 2009-2010 DIRECTOR'S REPORT TO THE MEMBERS Your Directors have pleasure in presenting the 36th Annual Report together with Audited Accounts of the Company for the year ended on 31st March, 2010. FINANCIAL RESULTS Rs. in million PROFIT BEFORE INTEREST, DEPRECIATION & TAX 157.89 Less: Interest 10.81 Depreciation 15.35 Provision for Taxation 48.90 (Including wealth Tax Deferred Tax liability) Profit for the year 82.83 Add: Balance as per last account 218.02 300.85 APPROPRIATIONS: Dividend on Equity Shares 15.16 Dividend Distribution Tax 2.52 Transfer to General Reserve 8.29 Balance carried to Balance Sheet 274.88 300.85 OPERATIONAL REVIEW: The ethos of the Company is based on the relationships it has nurtured over the years and the goodwill it has generated among its business associates. The Company summarizes this in its motto 'Chemistry of Partnerships'. The Company has emerged as one of the top chemicals indenting and distribution companies in India. It is now exploring new areas of growth and some beginning in this direction is already under way. In terms of diversifications, the Company intends to foray into the renewable energy sector, particularly generation of electricity from solar energy. This would supplement the Company's modest success in the wind energy segment. The Company acquired a tea estate near Darjeeling called Avongrove about two years ago. This business has witnessed significant improvement. The quality of organic tea produced in the estate is excellent and is fetching prices that are one of the highest in the Kolkata tea auctions. The brand equity of Avongrove is strong as a result of the emphasis on quality as well as efficiencies in production. Apart from being certified as an organic tea estate under US Department of Agriculture (USA), Japanese Agricultural Standards* (Japan) and National Programme for Organic Production (India & the EU), this business segment also received the Certificate of Fairtrade from Flo-CertGmbH, Germany during the yearfor conformation to labour and trade standards.. The Company continued to maintain stable growth in the financial year 2009- 10 across all segments of its activities. During the year, the Company set new benchmarks in terms of sales, profits and commissions. The turnover for the year increased to Rs. 563.22 million as against Rs. 501.88 million in the previous year. The income from commission was Rs. 151.09 million as against Rs. 74.88 million in previous year. The profit after tax increased to Rs. 82.83 million as against Rs. 27.12 million in the previous year. DIVIDEND: The Board recommends for the approval of the shareholders Dividend of Rs.1,000/- per Equity Share. DIRECTORS: Shri M.R. Mehta and Shri Anand Vardhan Kanoria, Directors of the Company, retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. SUBSIDIARY COMPANY: The statement required under Section 212 of the Companies Act, 1956 in respect of its Subsidiary Company is appended to this Report. CONSOLIDATION OF EQUITY SHARES: During the year, percent applicable provisions of the Companies Act 1956, the Company had consolidated its equity share capital by increasing the nominal value of Equity Shares from Rs. 10/- each to Rs. 1,000/- each. AUDITOR'S REPORT: The observations made by the Auditors in their report have been dealt with in Schedule 'M' of the Accounts, where the notes are self-explanatory. AUDITORS: Messer Singhi & Co., Chartered Accountants, Auditors of the Company, will retire at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment as Auditors of the Company to hold office from the conclusion of the ensuing Annual General Meeting until the conclusion of the next Annual General Meeting, As required under the provisions of Section 224 of the Companies Act, 1956 the Company has obtained a written confirmation from the retiring Auditors, to the effect that their re- appointment, if made, shall be within the limits of Section 224 (1B) of the Companies Act, 1956. DEPOSITS: The Company did not accept any fixed deposit from the public during the year. OTHER INFORMATION: Conservation of energy received high priority in the production of tea in the Company's Avongrove Tea Estate. Improvement in the machinery used in the production process resulted in reduced energy consumption. The Company has no activity relating to technology absorption. The foreign exchange earnings and outgo are given in the item No. 11 & 12 in the Notes on Accounts of Schedule 'M' of the Accounts. As required under Section 217(2A) of the Companies Act, 1956 and rules framed there under, the name and particular of employee receiving remuneration above prescribed threshold are set out in the annexure appended to this Report. STATEMENT ON DIRECTORS' RESPONSIBILITY: A Statement of Directors' Responsibility as prescribed under Section 217(2AA) of the Companies Act, 1956 is given here-in-below: i. In the preparation of Annual Accounts, the applicable Accounting Standards have been followed along with proper explanation relating to material departures wherever applicable; ii. We 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 at the end of the Financial year and of the profit of the Company for that period; iii. We have 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; iv. We have prepared the Annual Accounts on a going concern basis. QUALITY MANAGEMENT SYSTEM: The Company is effectively maintaining the Quality Systems as per the requirements of ISO 9001:2008, Certificate of Registration for which was granted by INTERTEK Quality Registrar. ACKNOWLEDGEMENT: Your Directors take this opportunity to thank the Company's suppliers, principals, customers, employees, bankers and investors for their continued and unstinted support. Registered Office For and on behalf of the Board 10th Floor, 'Indraprakash' 21, Barakhamba Road, Suman J. Khaitan New Delhi - 110 001 Chairman Date : 19th June 2010
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Key Information

Key Executives:

Suman J Khaitan , Chairman 

R V Kanoria , Director 

M R Mehta , Director 

A V Kanoria , Director 


Company Head Office / Quarters:
10th Floor Indraprakash,
21st Barakhamba Road,
New Delhi,
New Delhi-110001
Phone : 91-011-43579200 / 23716580
Fax : 91-011-23717203
E-mail : info@kplintl.com
Web : http://www.kplintl.com
Registrars:
RCMC Share Registry P Ltd
B-106 Sector-2


Noida-201301

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