Urvi Chemicals & Allied Industries Ltd


BSE: 501371 | NSE: NA | ISIN: NA 
Market Cap: [Rs.Cr.] 0 | Face Value: [Rs.] 10
Industry: Chemicals

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Director's Report

URVI CHEMICALS AND ALLIED INDUSTRIES LIMITED ANNUAL REPORT 2003-2004 DIRECTOR'S REPORT TO THE SHAREHOLDERS The Directors present their 31st Annual Report on the affairs of the Company for the year ended 31st March, 2004 together with the Audited Statement of Accounts. Current Year Previous Year (31-03-2004) (31-03-2003) (Rs. in Lacs) (Rs. in Lacs) 1. FINANCIAL RESULTS The year's working after meeting all expenses (141.00) (384.34) resulted in Loss after tax of Prior period items (08.04) (02.29) (149.04) (386.63) Balance of Profit/(Loss) brought forward (386.55) (00.08) Balance of Loss carried to Balance Sheet (535.59) (386.55) 2. DIVIDEND In view of losses incurred by the Company, the Directors do not recommend any dividend for the year under report. 3. REVIEW OF OPERATION The Company's overall performance has been affected adversely during the year. Gross Income declined to Rs.38.53 Lacs against Rs.395.56 Lacs in the previous year. The Loss for the year in Rs.141.00 Lacs as against Loss Rs.384.34 Lacs during the previous year. 4. SUBSIDIARY COMPANIES The Balance Sheet and Profit and Loss Account of Piramal Polymers Limited and statement under Section 212 of the Companies Act, 1956 are annexed. 5. PARTICULARS OF EMPLOYEES There was no employee in receipt of remuneration prescribed under Section 217(2A) of the Companies Act, 1956. 6. DIRECTORS In accordance with the provisions of the Companies Act, 1956 Mr. Vijay Garg and Mr. Ranjan Sanghi, retire by rotation at the ensuing Annual General Meeting and are eligible for re-appointment. 7. DIRECTORS' RESPONSIBILITY STATEMENT As required under section 217(2AA) of the Companies Act, 1956, ("the Act") we hereby state: (i) That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; (ii) That the Directors have selected such accounting policies and applied them consistently and made judgements 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 31st March, 2004 and its Loss for the year ended on that date. (iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. (iv) That the Directors have prepared the annual accounts on a going concern basis. 8. COMPLIANCE CERTIFICATE In accordance with the provisions of section 383A of the Companies Act, 1956 read with the Companies (Compliance Certificate) Rules, 2001 the Company has obtained a Certificate from a Company Secretary in Whole-time Practice and a copy of such Certificate is attached to this Report. 9. AUDITORS The Auditors, M/s. Bharat Bhuta & Co., Chartered Accountants, Mumbai, retire as Auditors of the Company at the ensuing Annual General Meeting and are eligible for re-appointment. For and on behalf of the Board URVI A. PIRAMAL CHAIRPERSON & DIRECTOR Mumbai Dated : 30th June, 2004 COMPLIANCE CERTIFICATE Registration No. of the company: 11-16888 Nominal Capital: Rs.24 Lakhs To, The Members Urvi Chemicals & Allied Industries Limited Administrative Building, Morarjee Mills Compound, Parel, Mumbai 400012. We examined the registers, records, books and papers of Urvi Chemicals & Allied Industries Limited (the Company) as required to be maintained under the Companies Act, 1956, (the Act) and the rules made thereunder and also the provisions contained in the Memorandum and Articles of Association of the Company for the financial year ended on 31st March 2004 (financial year). In our pinion and to the best of our information and according to the examinations carried out by us and explanations furnished to us by the Company, its officers and agents, we certify that in respect of the aforesaid financial year: 1. The Company has kept and maintained all registers as stated in Annexure `A' to this certificate, as per the provisions of the Act and the rules made thereunder and all entries therein have been duly recorded. 2. The Company has filed the forms and returns as stated in Annexure `B' to this certificate, with the Registrar of Companies within the time prescribed under the Act and the rules made thereunder. No forms or return were required to be filed with the Regional Director, Central Government, Law Board or other authorities. 3. The Company, being a public limited Company, has the minimum prescribed paid up capital. 4. The Board of Directors duly met six times respectively on 30th June 2003, 31st July 2003, 5 September 2003, 31st October 2003, 26th December 2003 and 30th 2004 in respect of which meetings proper notices were given and the proceedings were properly recorded and signed in the Minutes Book maintained for the purpose. 5. The Company closed its Register of Members from 16th September 2003 to 20th September 2003 and necessary compliance of section 154 of the Act has been made. 6. The annual general meeting for the financial year ended on 31st March held on 20th September 2003 after giving due notice to the members of the Company and the resolutions passed thereat were duly recorded in Minutes Book maintained for the purpose. 7. No Extra-ordinary general meeting was held during the financial year. 8. The Company has not advanced any loans to its directors or persons or firms or companies referred to under Section 295 of the Act. 9. The Company has not entered into any contracts falling within the purview of section 297 of the Act. 10. The Company has made necessary entries in the register maintained under section on 301 of the Act. 11. As there were no instances falling within the purview of section 314 of the Act, the Company has not obtained any approvals from the Board of directors, members or Central Government, as the case may be. 12. The Company has not issued any duplicate certificate during the financial year. 13. The Company has: (i) not made any allotment / transfer / transmission, during the financial year; (ii) not deposited any amount in a separate bank account as no dividend was declared during the financial year under review; iii) not posted dividend warrants as no dividend was declared during the year under review; (iv) amount lying in the Books of Account in respect of unpaid dividend, application money due for refund, matured deposits, matured debentures and the interest accrued thereon; (v) duly complied with the requirements of section 217 of the Act. 14. The Board of directors of the Company is duly constituted. There was no appointment of additional directors, alternate directors and directors to fill casual vacancy during the financial year. 15. The Company has not appointed any managing director/whole-time director / manager during the financial year. 16. The Company has not appointed any sole selling agents during the financial year. 17. The Company was not required to obtain any approvals of the Central Government Company Law Board, Regional Director, Registrar of Companies and / or such authorities prescribed under the various provisions of the Act. 18. The directors have disclosed their interest in other firms / companies to the Board of Directors pursuant to the provisions of the Act and the rule made thereunder. 19. The Company has not issued any shares, debentures or other securities during the financial year. 20. The Company has not bought back any shares during the financial year. 21. As there were no preference shares or debentures issued, there was no redemption of preference shares or debentures during the financial year under review. 22. There were no transactions necessitating the Company to keep in abeyance rights to dividend, rights shares and bonus shares pending registration transfer of shares. 23. The Company has not invited / accepted any deposits including any unsecured loans falling within the purview of section 58A during the financial year. 24. The amount borrowed by the Company from during the financial year ending 31st March 2004 are within the borrowing limits of the Company and that necessary resolution as per section 293(1)(d) of the Act had been passed duly convened annual general meeting. 25. The Company has made loans and investments to other bodies corporate in compliance with the provisions of the Act and has made necessary entries in the register kept for the purpose. 26. The Company has not altered the provisions of the Memorandum with respect to situation of the Company's registered office from one State to another during the year under scrutiny. 27. The Company has not altered the provisions of the Memorandum with respect to the objects of the Company during the year under scrutiny. 28. The Company has not altered the provisions of the Memorandum with respect to name of the Company during the year under scrutiny. 29. The Company has not altered the provisions of the Memorandum with respect to share capital of the Company during the year under scrutiny. 30. The Company has riot altered its articles of association during the financial year. 31. There was no prosecution initiated against or show cause notices received by the company, during the financial year, for offences under the Act. 32. The Company has not received any money as security from its employees during the financial year. 33. The Company has not constituted Provident Fund for its employees and as such, Section 418 of the Act is not applicable to the Company. Signature: Name of the Company Secretary: Surendra U. Kanstiya Date : 30-06-2004. C.P.No. : 1744 ANNEXURE "A" TO THE COMPLIANCE CERTIFICATE OF URVI CHEMICALS & ALLIED INDUSTRIES LIMITED Registers as maintained by the Company 1. Register of Members u/s 150. 2. Register of Contracts u/s 301. 3. Register of Contracts, companies and firms in which directors are interested u/s 301 (3) 4. Register of Director, Managing Director, Secretary u/s 303. 5. Register of Directors' Shareholdings u/s 307. 6. Register of Loans u/s 370. 7. Register of Investments u/s 372. 8. Register of Loans, Investments etc. u/s 372A. 9. Register of Transfers. 10. Minutes Book of Board Meeting & General Meeting under the Companies Act, 1956. Signature: Name of the Company Secretary: Surendra U. Kanstiya C.P.No. : 1744 Date : 30-06-2004. ANNEXURE "B" TO THE COMPLIANCE CERTIFICATE OF URVI CHEMICALS & ALLIED INDUSTRIES LIMITED Forms and Returns as filed by the Company during the financial year ending 31.3.2004 * With Registrar of Companies: Sr. Form No./ A B C No. Return 1. Compliance 383A Year ended 24.09. Certificate 31.03.2003 2003 2. Annual 220 Year ended 24.09. Accounts 31.03.2003 2003 3. Annual 159 A.G.M. held on 18.11. Return 25.09.2003 2003 Sr. Form No./ D E No. Return 1. Compliance Certificate Yes No 2. Annual Accounts Yes No 3. Annual Yes No Return A = Filed Under Section B = For C = Date of Filing D = Whether Filed within Prescribed time E = If delay in filing Whether requisite additional fees paid Yes / No * With Regional Director, Central Govt. or other authorities: Nil Place : Mumbai Signature: Name of the Company Secretary: Surendra U. Kanstiya Date : 30.06.2004. C.P.No.: 1744
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(Rs. in Cr.)
P/E (TTM)
(x)
P/BV (TTM)
(x)
EV/EBIDTA
(x)
ROE
(%)
ROCE
(%)
D/E
(x)
Pidilite Inds. 18,938.01 39.98 9.28 19.58 29.7 36.6 0.10
Castrol India 16,399.65 34.98 32.54 37.84 72.6 107.1 0.00
Godrej Inds. 11,407.00 0.00 7.95 48.80 1.0 4.1 0.77
Guj Fluorochem 5,864.81 78.83 2.32 5.44 17.2 20.8 0.37
BASF India 3,701.30 27.47 2.96 11.60 10.4 12.8 0.26
Solar Inds. 3,692.40 40.22 8.10 17.76 25.2 20.7 0.70
Linde India 3,000.15 84.98 2.10 13.35 3.8 4.6 0.95
Clariant Chemica 2,244.24 36.60 3.91 6.48 15.2 19.8 0.00
Aarti Inds. 1,934.58 13.01 2.48 4.11 22.1 18.3 1.24
Micro Inks 1,584.47 11.78 1.98 0.00 18.5 25.5 0.38
Tide Water Oil 1,002.20 14.19 2.45 5.43 19.1 26.6 0.00
Deepak Nitrite 866.10 22.95 2.83 8.20 13.1 11.9 1.45
Gulf Oil Corpn. 808.03 12.48 1.79 6.31 12.7 13.7 0.66
Alkyl Amines 610.32 14.71 4.35 4.41 34.7 28.1 1.20
Navin Fluo.Intl. 561.44 14.15 1.04 4.12 8.1 9.5 0.13

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Key Information

Key Executives:

Urvi A Pirmal , Director 

Rajeev A Piramal , Director 

V K Garg , Director 

S Kashimpuria , Director 


Company Head Office / Quarters:
Morarjee Mills Compound,
Dr Ambedkar Road Parel,
Mumbai,
Maharashtra-400012
Phone :
Fax :
E-mail :
Web : http://
Registrars:

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