j k investo trade india ltd Directors report

DIRECTORS

Your Directors are pleased to present the 66^th Annual Report, together with the audited financial statements of the Company for the year ended 31" March, 2014.

FINANCIAL RESULTS

Rs. in Lacs

	Year ended 31.3.2014	Year ended 31.3.2013
Income during the year	739.60	781.70
Depreciation	0.42	0.42
Provision for taxation	31.12	30.83
Profit after Tax	589.64	665.14
Profit brought forward	3002.01	2469.90
Transfer to Statutory Reserve Fund under RBI Act	117.93	133.03
Profit as per Balance Sheet	3473.72	3002.01

JOINT VENTURE COMPANY

During the year under reviewthe total revenue of jointventure company, J. K.Ansell Limited was Rs. 16448.38 lacs (Previous year Rs. 14586.44 lacs). TheprofitaftertaxwasRs. 1130.35 lacs (PreviousyearRs. 1192.16 lacs).

SUBSIDIARY

As required under Section 212 of the Companies Act, 1956, the audited financial statements, along with the report of the Board of Directors and Auditors Reportthereon of the wholly owned subsidiary, J. K.Helene Curtis Limited, fortheyear ended on 3f March, 2014 are annexed.

During the year under review, the total revenue of wholly owned subsidiary, J. K. Helene Curtis Limited, was Rs. 29437.47 lacs (Previous year 25256.43 lacs). The profit after tax was Rs. 1983.77 lacs (Previous year Rs. 2240.73 lacs). During the year under review, J. K. Helene Curtis Limited had incorporated "JKHC International (FZE)" as its Wholly-owned Subsidiary in United Arab Emirates.

E-VOTING FACILITY

The Company will offer e-voting facility, as an alternate, to its Members enabling them to cast their votes electronically at the general meetings or whenever the Company is required or decides to pass any resolution by way of postal ballot. E-voting is optional.

ACCOUNTING STANDARDS

The accounts have been prepared as perthe applicable Accounting Standards and necessary disclosures have been made in the annual accounts.

DIRECTORS RESPONSIBILITY STATEMENT

Your Directors state that:

i. in preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

ii. 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 fairview of the state of affairs of the Company at the end of the financial year and of the profitor loss of the company for that period;

iii. the Directors have taken proper and sufficient care for the maintenance of adequate 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 and other irregularities;

iv. the annual accounts have been prepared on a going concern basis.

PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION ETC.

Information pursuant to Section 217(1 )(e) of the Companies Act, 1956 is not applicable.

PERSONNEL

There is no employee whose particulars are required to be furnished under Section 217(2A) of the Companies Act,1956.

PUBLIC DEPOSIT

The Company has not accepted any depositfrom the public during the year under review.

DIRECTORS

Shri Gautam Hari Singhania, Directorof the Company has been appointed as Chairman of the Board of Directors of the Company w.e.f. May 29,2013, in placeof Dr. VijaypatSinghania.

Shri R. K. Ganeriwala, Whole-time Director of the Company has resigned as Whole-time Director with effect from April 1,2014. He will continue to remain as Non-Executive Director of the Company, liable to retire by rotation.

Shri Nabankur Gupta, retires by rotation atthe ensuing Annual General Meeting and, being eligible, offers himself for re-appointment.

AUDITORS

Your Companys Auditors, Messrs Lodha & Company, Chartered Accountants, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. You are requested to appointAuditors and fix their remuneration.

ACKNOWLEDGEMENTS

Your Directors would like to express their sincere appreciation of the co-operation and assistance received from the shareholders, bankers, regulatory bodies and other business constituents during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff during the year.

Place : Mumbai	For and on behalf of the Board
Dated : 28th April, 2014	Gautam Hari Singhania
	Chairman