MANAGEMENT DISCUSSION AND ANALYSIS REPORT
FINANCIAL RESULTS
|
RUPEES |
|
2021-22 |
2020-21 |
| Gross Receipts |
38,01,538 |
64,89,133 |
| Less: Administration and other Expenses • |
(27,18,251) |
117,44,1201 |
| Profit/ (loss) before Depreciation and taxation |
10,83,287 |
47,45,013 |
| Depreciation |
(11,91,501) |
112,73,356) |
| Profit/ (loss) after Depreciation and before taxation |
(1,08,214) |
34,71,657 |
| Less: Prior Period Items |
|
|
| Add/(Less): Deferred Tax |
(4,59,488) |
(3,05,563) |
| Less: Provision for Proposed Dividend |
- |
- |
| Less: Dividend Tax |
- |
- |
| Add/(Less): Transfer to General Reserves |
(5,67,702) |
31,66,094 |
| Add: Balance brought forward from earlier year |
(6,01,64,100) |
(6,33,30,194) |
| Balance carried to Balance Sheet |
(6,07,31,802) |
(6,01,64,100) |
OPERATION
Your Company continues to provide transport services to the clients during the year and
the same shall be continued over future years.
BUSINESS PERFORMANCE REVIEW
During the year, your Company has taken a conscious decision of keeping the business
activities production and distribution on a low key in the light of global recession,
which continues to hamper the world even though impact on our economy is not significant.
As a result of lack of operation of business your Company has made loss of Rs.
5,67,702/- during the year. However, the Directors are exploring avenues to achieve
sustainable and profitable growth of your Company.
No new projects or services undertaken by the company. No acquisition, merger,
expansion, diversification during the year. The Board has taken all measures to improve
the working and reduce the cost.
INCOME
Total Revenue for the year ended 31st March, 2022 earned by your Company is
Rs. 38,01,538/- against Rs. 64,89,133/-for the year ended 31st March, 2021.
ADMINISTRATION, FINANCE AND OTHER EXPENSES
Administration and other expenses were incurred in the normal course of business for
the year ended 31st March, 2022 at Rs. 27,18,251/- as against Rs. 17,44,120/-
for the year ended 31st March, 2021. Finance costs included above for the
period 2021-22 are Bank charges of Rs. 593/- as against Rs. 684/- for the period 2020-21.
DEPRECIATION
Depreciation was charged at normal rates for the year end at Rs. 11,91,501/- as
compared to Rs. 12,73,356/- in F.Y. 20-21.
PROFIT / LOSS BEFORE TAXATION & PRIOR PERIOD ITEMS
Loss before Tax & Prior Period Items for F.Y. 21-22 was at Rs. (1,08,214/-) as
compared to Profit of the previous year Rs. 34,71,657/-.
PRIOR PERIOD ITEMS
There were no Prior Period Items in the year under review.
PROFIT/ (LOSS)
The Loss after Tax for the year was Rs. (5,67,702/-) as compared to the previous years
Profit of Rs. 31,66,094/-.
DIVIDEND
The Board has not recommended any dividend for the financial year under review. During
the year under review no amount was transferred to General reserve.
BORROWINGS
The Company has not taken any loans & advances from outsiders during the year ended
31st March 2022.
PUBLIC DEPOSITS
Your Company has not accepted any public deposit during the year under review.
OTHER NON CURRENT LIABILITES
Other Non Current Liabilities for the year ended 31st March, 2022 was NIL as
Warehousing deposit for the year ended 31st March, 2021 of VIP Industries
Limited which was repaid during the year. *
CURRENT LIABILITIES AND PROVISIONS
The Trade Payables are Rs. 154,770/- for the year ended 31st March, 2022 as
against Rs. 85,913/- for the year ended 31st March, 2021. The Other Current
Liabilities are Rs.1,07,523/- as against Rs. 92,767/- for the year ended 31st
March, 2021 and Provisions made for the expenses at Rs. 29,597/- details of which are
given in the notes to the Financial Statements.
CAPITAL EXPENDITURE ON FIXED ASSETS
During the year under review, the Company has not incurred any amount towards Capital
expenditure.
NON-CURRENT INVESTMENTS
The Non-Current Investments are made in Mutual Funds which stand at Rs 63,93,055 for
the year ended 31" March, 2022 as against Rs. 60,29,400 for the year ended 31"
March, 2021.
NON CURRENT ASSETS
Other Non Current Assets for the year ended are Rs. 33,42,849 which include Advance due
from Related parties Rs. 31,98,767/- during the year, as against Rs. 34,94,519 and Rs.
33,33,419 for the year ended 31st March 2021 respectively.
CURRENT ASSETS
For the year under review the Company has no Inventory.
The Trade Receivables are Rs. 2,24,276/- for the year ended 31st March, 2022
as against Rs. 7,77,580/- for the year ended 31st March, 2021. The Companys
TDS has been deducted on Warehousing Charges and Bank F.D. Interest for the year under
review. The amount varies due to government policies and increase in rates of taxes.
OTHER CURRENT ASSETS
Other Current Assets are Rs. 36,41,854/- for the year ended 31st March, 2022
as against Rs. 3,72,496/- for the vear ended 31st March, 2021.
LOANS, ADVANCES RECEIVED
The company has not received or taken any loans or advances during the year. No person
has given guarantee on behalf of the company for any loans or advances.
LOANS, GUARANTEES & INVESTMENTS U/S186 OF COMPANIES ACT
The company has not given any loan to any person or body corporate during the year nor
given any guarantee to anyone nor acquired by subscription, purchase or otherwise
securities of other body corporate.
The balances of advances to related parties on account of deposits for premises on
rent, reimbursement of expenses incurred etc. details of which are given in the Financial
Statements.
CORPORATE SOCIAL RESPOSIBILITY
The Company believes in its sense of social responsibility towards the community and
environment and monitors the business to ensure its active compliance. The detailed policy
followed by the Company is available at the Registered office.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an Internal Control System commensurate with the size, scale and
complexity of its operations. The scope and authority of the Internal Audit Function is
well defined in the organization. To maintain its objectivity and independence, the
Internal Audit Function reports to the Board of Directors.
VIGIL MECHANISM/WHISTLE BLOWER POLICY
The Company has adopted a whistle blower policy to provide a mechanism for the
Directors and employees to report genuine concern about any unethical behaviour, actual or
suspected fraud or violation of the Companys code of conduct.
CAUTIONARY STATEMENT
Statements in this Directors Report and Management Discussion and Analysis describing
the Companys objectives, projections, estimates, expectations or predictions may be
"forward- looking statements" within tire meaning of applicable securities laws
and regulations. Actual results could differ materially from those expressed or implied.
Important factors that could make difference to the Companys operations include raw
material availability and its prices, cyclical demand and pricing in the Companys
principle markets, changes in Government regulations, Tax regimes, economic developments
within India and the countries in which the Company conducts business and other ancillary
factors.
1) Long Term Loans and Advances are NIL
2) Board Meetings attended by Directors on 26-04-2021, 16-06-2021, 03-09-2021, 20-10-
2021,13-11-2021 & 14-02-2022
3) General Meeting on 30/11/ 2021.
4) Insolvency & Bankruptcy Code : NIL
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