allied photographics india ltd Directors report

DIRECTORS REPORT

To

The Members

Your Directors have pleasure in presenting their 67^th Annual Report and the audited accounts for the period ended 31^st March, 2014.

FINANCIAL RESULTS	2013-14	2012-13
	Rs.	Rs.
Total Revenue	11,00,78,318	59,61,68,646
Total Expenditure	10,30,57,477	53,41,97,541
Profit before taxation	70,20,841	6,19,71,105
Taxation	18,14,721	2,00,49,867
Profit after tax	52,06,120	4,19,21,238

DIVIDEND

Your Directors do not recommend any dividend considering the requirement of fund for future requirements.

EMPLOYEES

The details of the employees drawing remuneration attracting the provisions section 217 (2A) of the companys act 1956 during the year is kept available for perusal in the Registered office of the Company.

During the year the relations between the employees and the management continued to be cordial as in the past.

FIXED DEPOSITS

Out of the total deposits accepted by the company, three deposits of total Rs. 75,000/- remained unclaimed for want of instructions from the deposit holders. They are renewed during the current year. The company has complied provisions of section 58A and rules for acceptances of deposits during the year.

DIRECTORS

Mr. Rabindra Bhakta (DIN : 02621743) director of the company retires by rotation and being eligible, offers himself for re-appointment.

Mr. Satish Shah (DIN : 01207456), director of the company retires by rotation and being eligible, offers himself for re-appointment.

Mr. S. P. Agarwal resigned as a Managing Director of the Company w.e.f 31.03.2014. Your Directors wish to place on record its sincere and warm appreciation of the guidance and valuable advice received from in the deliberation of the Board during his tenure as a Managing Director of the Company.

Due to the resignation of Mr. S. P. Agarwal as the Managing Director of the company. Mr. Anurag Agarwal was appointed as the new Managing Director of the company to hold office for 5 years from 01.04.2014.

Mr. Dinesh Chandra Bajpai resigned from the Board of Directors w.e.f 31.03.2014. Your Directors wish to place on record its sincere and warm appreciation of the guidance and valuable advice received from in the deliberation of the Board during his tenure as a Director of the Company.

AUDITORS

M/s. Virendra Mona & Associates (Membership No. 077497) Chartered Accountants, the companies Auditors retire at the conclusion of the ensuing Annual General meeting and being eligible for re-appointment offers themselves for re-appointment as the auditors of the company.

SUBSIDIARY COMPANIES

Details of subsidiary company namely Allied Photographies East-India Limited, as required u/s 212 of The Companies Act, 1956 are attached herewith.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO.

Parts A and B pertaining to conservation of energy and technological absorption are not applicable to the Company. Foreign Exchange Earning and Outgo:-

a) Total foreign exchange earned during the year, (including claims and reimbursement of expenses.)	Rs. NIL
b) Total foreign exchange used during the year (excluding import of materials)	Rs. NIL

DIRECTORS RESPONSIBILITY STATEMENT

1. In preparation of the Annual Accounts, the applicable Accounting Standards had been followed along with proper explanation relating to material departures.

2. That they had selected such accounting standards, 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 and loss of the company for that period.

3. That they had taken proper and sufficient care for the maintenance of adequate accounting records, in accordance with the provisions of the relevant acts for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

4. That the accounts had been prepared on a going concern basis.

RESOLUTIONS

The notice of the meeting contains several resolutions for consideration of the members. The directors recommend passing of the resolutions.

APPRECIATION

Your Directors take the opportunity to thank all the employees and the staff members for their Co-operation and contribution to the Companys Operations during the year. Your Directors also wish to place on record their appreciation for the support and co-operation given by the Banks, Business Associates, stake holders and customers during the period under review.

	BY ORDER OF THE BOARD
	FOR ALLIED PHOTOGRAPHICS INDIA LIMITED
	Sd/-
	S P Agarwal
Place : Mumbai	Chairman & Director
Dated : 28.06.2014	(DIN No. 00053536)