air control chemical engineering ltd Directors report

DIRECTOR

The Members,

Your Directors are pleased to present the 31st Annual Report of your Company together with the Audited Statement of Accounts and the Auditors Report of your Company for the financial year ended, 31st March, 2014. The summarized financial results for the year ended 31st March, 2014 are as under:

FINANCIAL RESULTS

Particulars	Year ended 2013-14	Year ended 2012-13
Gross Revenue	335707	311177
Expenditure	311784	294740
Profit/(Loss) before Taxation	23922	17036
Provision for Taxation	(5357)	(5473)
Profit/(l_oss) after Taxation	18565	17783
Profit / (Loss) brought forward from previous year Balance carried forward to Balance Sheet	18565	17783

RESERVES

The Opening Balance of Revaluation Reserves was Rs 17,874. The Closing Balance of Revaluation Reserves is Rs 16,337. The Company has charged / transferred Rs 1,536 to Statement of Income and Expenditure. The Opening Credit Balance of Profit and Loss was Rs 65,911. During the year under review, the Company has added Rs 18,565 to the Profit and Loss hence the Closing Balance of Credit of Profit and Loss is Rs 84,476.

Operations

The operation of the company is improving consistently and we could achieve better operating results during the financial year.

Dividend

Yours Directors regret their inability to recommend dividend.

FUTURE PROSPECTS

The Company is maintaining the steady progress and the products of the company are well accepted in the market. We expect good growth of business during next financial year. Your

Directors are continuously looking for avenues for future growth of the Company.

INDUSTRIAL RELATIONS

The company continued to maintain harmonious and cordial relations with itsworkers.

FOREIGN EXCHANGE EARNINGSAND OUTGO

The information related to foreign exchange earnings and outgo is provided in the notes of the accounts. Members are requestedto refer the same.

AUDITORS

M/s. R. L. Mundhra and Co, firm registration no.307051E retires at the conclusion of this annual general meeting. The Auditors have furnished a certificate to the company that their appointment, if made at the ensuing annual general meeting will be within the limits specified 139(1) of the CompaniesAct, 2013. Members are requested to reappoint them.

There is no qualification or adverse remarks in theauditors report.

DIRECTORS RESPONSIBILITY STATEMENT

In compliance of Section 217(2AA) OF THE Companies Act, 1956 the Directors of the Company confirm:

A. that in the preparations of the annual accounts, the applicable accounting standards had been followed and that there are no material departures;

B. that the Directors have selected such accounting policies and applied them consistently and made suchjudgments and estimates made are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on 31st March, 2014 and of the profit of the company for the year ended on that date;

C. that 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 safeguard the assets of the Company and the preventing and detecting fraud and other irregularities;

MATERIAL CHANGES AND COMMITMENTS SUBSEQUENT TO BALANCE SHEET DATE

There are no material changes and commitments affecting the financial position of the company, subsequent to the Balance Sheet date and upto the date of the report.

OTHER INFORMATIONS

The information pertaining to conservation of energy, technology absorption, forming part of this report is annexed. There were no employees whose particulars are required to be furnished under section 217(2a) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules.

ACKNOWLEDGEMENT

The Board acknowledges the valuable support and co-operation of the Bankers and employees. The Board also acknowledges the valuable support and co-operation of various Govt. Agencies, Customers, Suppliers and Shareholders of the company and look forward to their continued support.

	By order of the Board of Directors
	AIR CONTROL & CHEMICAL ENGINEERING COMPANY LIMITED
Date : 28lhdayofJune 2014	B.R. DAGA
Place: Ahmedabad	CHAIRMAN

ANNEXURE TO DIRECTORS REPORT

CONSERVATION OF ENERGY

A) ENERGY CONSERVATION MEASURE TAKEN

Energy Audit conducted in 2003 and short term measures taken are as below.

1) Improvements of power factor.

2) Air leakage stopped at identified locations.

3) Avoid excessive running of submersible pump.

B) ADDITIONAL INVESTMENTS AND PROPOSALS

1) Installation of centralized lighting load energy system.

2) Automatic light controls switch for street lighting.

3) Water level controller in each OH Tank to avoid wastage of water.

C) IMPACT OF (A) & (B)

The above measures have resulted in substantial reduction in consumption of energy as well as reduction in cost of production.

D) TOTAL ENERGY CONSUMPTION AS PER FORM A (See Rule 2)

A) Power and fuel consumption

1. ELECTRICITY

	For the year 1/4/1 3 to 31/3/1 4	For the year 1/4/1 2 to 31/3/1 3
a) Purchased Unit	468486 Units	569464 Units
Total Amount	Rs 4375088/-	Rs 4830450/-
b) Own generation
Through diesel generator unit	N.A	N.A
Unit per !iter of diesel oil	N.A.	N.A.
Cost/ Unit.	N.A.	N.A.
2. FURNACE OIL
a) Quantity (k.ltrs)	7.160 k.ltrs	11.400 k.ltrs
Total Amount	Rs 360864/-	^ 538650/-
Average Rate	Rs 50.4/ Itr	Rs 47.25/ Itr
b) Consumption per unit of production.
Product (with detail) unit electricity
1) Compressor	2891 Kwh/nos	3349 Kwh/nos
2) Fan section	496 Kwh/nos	439 Kwh/nos
3) Foundry	374.70 Kwh/tonne	1412 Kwh/tonne
4) Furnace Oil	0.167 k.ltrs/tonne	0.11 k.ltrs/tonne
5) Coal		N.A.
6) Others		-