MANAGEMENT DISCUSSION AND ANALYSIS REPORT
|Less: Administration and other Expenses •||(27,18,251)||117,44,1201|
|Profit/ (loss) before Depreciation and taxation||10,83,287||47,45,013|
|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)|
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.
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 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.
The Loss after Tax for the year was Rs. (5,67,702/-) as compared to the previous years Profit of Rs. 31,66,094/-.
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.
The Company has not taken any loans & advances from outsiders during the year ended 31st March 2022.
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.
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.
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.
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
Gold/NCD/NBFC/Insurance and NPS
Gold/NCD/NBFC/Insurance and NPS