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Pushpsons Industries Ltd

BSE: 531562 | NSE: ISIN:
Market Cap: [Rs.Cr.] 4.19 Face Value: [Rs.] 10
Industry: Textiles - Processing

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Director's Report

Dear Members,

Your Directors are pleased to present the 20th Annual Report together with the audited Statements of Accounts for the year ended 31st March 2014.


Year ended Year ended
31.03.2014 31.03.2013
Rupees Rupees
Sales and Other Income 4,54,19,995 1,85,10,097
Profit before interest and depreciation 57,77,768 15,61,364
Financial Expenses 1,13,850 1,32,480
Depreciation 13,57,227 13,54,263
Profit after Interest and depreciation 43,06,691 74,621
Net profit during the year 43,06,691 74,621


Due to inadequate profits and accumulated losses in the Company, your directors have decided not to recommend any dividend.


(a) Industry Structure and Development

Your company is engaged in the exports and manufacturing of textiles made-ups and is directly linked with demand in the international market.

(b) Opportunity and Threats

Your company is doing regular efforts for cost reduction and to improve the efficiency and productivity. Once the global demand recession is over, the opportunities for exports should increase and to take full advantage. There are challenges, which in the short term, will moderate growth-inflation, high interest rates, depreciating rupee.

(c) Outlook

The company hopes to be benefited from their continuous efforts and expects an increase in demand in the Indian and Exports markets.

(d) Risks and Concern

The company has to meet the stiff competition, exchange rate fluctuation, uncertain customer schedules, aggressive pricing strategy of competitors and changing technology.

(e) Human Resources / Industrial Relations

It is the company's belief that Human Resources is the driving force towards progress and success of a Company. The company seeks to motivate and retain its professionals by offering reasonable compensation and opportunity to grow in the organization. The total permanent employee's strength was Nineteen (no. 19) as on 31st March, 2014. The Industrial relations remained cordial during the year.


Shri Dinesh Jain and Shri Vikram Prakash, Directors of the Company retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for reappointment.

In terms of Clause 49 of the Listing Agreement with stock exchange, the details of the Directors to be appointed / re-appointed are contained in the accompanying notice for convening the ensuing Annual General Meeting.

During the year Shri R. N. Bansal resigned and was relieved from the Board of Directors with effect from 24-02-2014. Your Board of Directors wish to place on record their sincere appreciation for the guidance and valuable contributions made by Shri R. N. Bansal in the deliberation of the Board of Directors during his tenure as Director of the company.

We, with great sorrow inform the demise of Dr. M. R. Jain on 03rd April, 2014, the Chairman and promoter director of our Company. The Company places record his vision and contributions to the growth of our Company.


M/s. R. Verma & Associates, Chartered Accountants, Statutory Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting, and being eligible, offer themselves for re-appointment of the company as a statutory auditor.


Your Company has always strived to comply with the appropriate standards for good corporate governance and It has taken adequate steps to ensure that all mandatory provisions of Corporate Governance as prescribed under the Listing Agreements with Stock Exchanges are complied with.

A separate report on Corporate Governance along with a Certificate of Compliance from the Auditors, form part of this Report.


Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors confirm that:

1. in the preparation of the annual accounts, the applicable accounting standards have been followed and that there are no material departures;

2. they had 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 the affairs of the Company at the end of the financial year and of the profit of the Company for the year ended 31st March, 2014;

3. they had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Company Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

4. they had prepared the annual accounts on a going concern basis.


Particulars of employees in receipt of the remuneration in excess of the amount specified in Section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees Rules, 1975) as amended from time to time do not apply to the Company as there was no employee in receipt of remuneration in excess of specified amount during the year.


The Company has not accepted any deposits from public during the year.


Information under section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is given below:


The Company continues its policy of giving priority to energy conservation measures including regular review of energy generation and consumption and effective control on utilization of energy. During the year under report, Company has consumed 116848 (Previous Year 89487) units of power (KWH).


Your Directors are of the opinion that the company has already opted for latest technology for producing Carpets, Durries and made-ups. Hence information specified in Form B is not applicable.


The exports on FOB basis are Rs. 406.78 Lacs (Previous year was Rs. 148.53 Lacs). The expenses in foreign exchange on Exhibition Expenses is Rs. 19.32 Lacs (Previous year was Rs. 7.17 Lacs)


Your directors wish to place on record its sincere appreciation for wholehearted timely support and contribution provided by your Company's Bankers Indian Overseas Bank and all the vendors and dedication and commitment of the employees at all levels.

Your directors also take this opportunity to thank all the valued customers who have appreciated our products and patronized them.

Your directors convey their grateful thanks to the Government Authorities (Central & State), Business Associates & Shareholders, for their continued assistance, co-operation and patronage given by them.

For and on Behalf of the Board
New Delhi Pankaj Jain
28th May, 2014 Chairman
India Infoline Research
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Key Information

Key Executives:

Pankaj Jain , Director

Dinesh Jain , Whole-time Director

Vikram Prakash , Director

S B L Jain , Director

Company Head Office / Quarters:

B-40 Okhla Industrial Area,
New Delhi,
New Delhi-110020
Phone : New Delhi-91-011-26818631/26818632 / New Delhi-
Fax : New Delhi-91-011-26814918 / New Delhi-
E-mail :
Web :


Beetal Fin.&Computer Ser.P Ltd
Beetal House 3rd Flr,Behind Local Shp Cen,Nr Dada Harsukh Das ,New Delhi - 110062

Fund Holding
Scheme Name No. of Shares
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