DIRECTORThe Members of
SCENARIO MEDIA LIMITED
The Directors are pleased to present herewith the 29th Annual Reporttogether with the Audited Statement of Accounts for the year ended March 31, 2011.
1. FINANCIAL RESULTS
(Rs. In Lacs)
| 2010-2011 | 2009-2010 |
| Profit/(Loss) before interest, depreciation and taxation | 23.31 | 30.05 |
| Less: Interest | 0.00 | 0.00 |
| Depreciation/Amortisation/ Impairment | 22.44 | 22.98 |
| Provision for Taxation-current/ earlier years | 0.30 | 2.17 |
| 22.74 | 25.15 |
| Add : provisions written back | 0.00 | 0.0 |
| Net Profit /(Loss) after Tax | 0.58 | 4.90 |
| Add: Balance in Profit & Loss Account | 40.92 | 36.02 |
| Less: Transferred to Reserve Fund | - | - |
| Balance Carried Forward | 41.49 | 40.92 |
| Appropriations | | |
| Interim Dividend | - | - |
| Final Dividend | - | - |
| Dividend Tax | - | - |
| Balance carried forward | 41.49 | 40.92 |
| Total | 41.49 | 40.92 |
2. FINANCIAL PERFORMANCE
Your Company completed the Financial Year 2010 2011 with a performance of GrossTurnover for the year decrease by 49.90% to Rs. 82.42 lacs. Pre-tax profit decreased by12.44% to Rs.0.87 lacs, while Post-tax profit decreased by 11.78% to Rs. 0.57 lacs.Earnings Per Share for the year stands at Rs.0.08 Cash flows from Operations stood at Rs.- 84.57 lacs during the year.
3. DIVIDEND
The Board does not recommend any dividend for the financial year ended 31st March,2011.
4. INVESTMENTS
The Book value of the quoted investments for the year under review was Rs. 2,901,600(previous year Rs. 2,901,600).
5 . DIRECTORS’ RESPONSIBILITY STATEMENT
To the best of their knowledge and belief and according to the information andexplanation obtained by them, your Directors make the following statement in terms ofSection 217(2AA) of the Companies Act, 1956:
a) that in the preparation of the Annual Accounts for the year ended March 31, 2011,the applicable accounting standards have been followed alongwith proper explanationrelating to material departures, if any.
b) that the Directors have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year ended March 31, 2011 and of the profit of the Company for that year.
c) that the Directors have taken proper and sufficient care for the maintenance ofadequate 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 andother irregularities.
d) that the Directors have prepared the Annual Accounts for the year ended March 31,2011, on a going concern basis.
6. DIRECTORS
In accordance with the Articles of Association of the Company and provisions of theCompanies Act, 1956 Mr. Narendra Kumar Mansingka retires by rotation at the ensuing AnnualGeneral Meeting and being eligible, offer themselves for re-appointment. Your Directorsrecommend their re appointment.
Mr. Dillip Kumar Sahoo was appointed as an Additional Director of the Company inaccordance with section 260 of the Companies Act, 1956 by the board of directors w.e.f.13/04/2011. Mr. Dillip Kumar Sahoo will hold office till the date of the Annual GeneralMeeting of the Company scheduled to be held on September 30, 2011. The Requisite noticestogether with necessary deposits have been received from a member pursuant to section 257of the Companies Act, 1956 proposing the election of Mr. Dillip Kumar Sahoo as a Directorof the Company.
During the year 2010-11 Mr. Balam Mohla resigned as Board Member of the Companywith effect from 13/04/2011.
7. STATUTORY AUDITORS
You are requested to appoint Auditors for the current year and fix their remuneration.The Auditors of the Company, Murarilal Agarwal, Chartered Accountants, retire at ensuingAnnual General Meeting of the Company and have given their consent for re-appointment. TheCompany has also received a certificate from them under section 224(1B) of the CompaniesAct, 1956.
8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS ANDOUTGO.
Since there is no manufacturing activity carried on by the Company, the particulars inrespect of conservation of Energy as required under Section 217 (i) (e) of the CompaniesAct, 1956 are not furnished.
During the year Foreign Exchange and Outgoing are Nil.
The Company has not used any technology as such during the year.
9. PARTICULARS OF EMPLOYEES
There were no employees during the whole or part of the year who were in receipt ofremuneration aggregating to Rs. 2,00,000/- p.m. or Rs. 24,00,000/- p.a. Hence noparticulars are given.
10. ACKNOWLEDGEMENTS:
Your Directors would like to record their appreciation of the services rendered by themembers of the staff at all levels. They also like to express their gratefulness to theCompanies Bankers, Shareholders and their Customers for their co- operation and also forthe confidence reposed in the Company.
For and on behalf of the Board of Directors
| Sd/- | Sd/- |
| CHIRAG PITTIE | SAMEER KAPOOR |
| (DIRECTOR) | (DIRECTOR) |
Date : 3rd September, 2011
Place : Mumbai.
Registered Office
97, Maker Tower ‘F’,
Cuffe Parade, Mumabi 400 005.