Dr Sabharwals Manufacturing Labs Ltd Directors Report.
TO, THE SHARE HOLDERS:
Your Directors have pleasure in presenting the 29th Annual Report of the Company for the year ended 31st March, 2013.
The comparative results for the year and those of previous year are summarised below :
|1. Operating Profit/Loss before Interest & Depreciation.||8098927.31||4704428.73|
|2. Less: Interest||-||-|
|3. Profit/Loss before Depreciation||8098927.31||4704428.73|
|4. Less Depreciation||923654.77||941547.16|
|5. Profit/Loss after Depreciation and Interest||7175272.54||3762881.57|
|6. Add : Provision for Deferred Tax Liability||680778.88||139483.33|
|7. Less : Provision for Taxation||(3100000.00)||1350000.00|
|8. Net profit/Loss after Taxation||4756051.42||2552364.90|
|9. Adjustment relating to previous year & Taxation||-||-|
|10. Loss/ Profit available for appropriation||-||-|
|11 Transfer to General Reserve||237800.00||-|
|12. Less Dividend||1200000.00||800000.00|
|13 Less Dividend Tax||194670.00||129780.00|
|14. Balance Carried over||3123581.42||1622584.90|
DIVIDEND : Your Directors are recommending a Dividend @ 15% i.e. 1.50 per share subject to approval in the ensuing Annual General Meeting.
PERFORMANCE: During the year under report despite stiff competition in the domestic as well as overseas market, the sales of your Company have increased marginally to Rs.568.43 lacs as against Rs. 563.13 lacs during the previous years. However, the Company has been able to earn a Net profit of Rs.71.75 lacs as against Rs. 37.62 lacs during the previous year after changing intervation Depreciation.
Your Directors are happy to announce that the Company after getting ISO 9001:2008,13485 Certificate is maintaining the spirit of total quality management and is earning more by reducing rejections and failures. We hope to have more business and growth for the time to come.
DIRECTORS : Dr. Prem Nath Director retires by Rotation at this Annual General Meeting and being eligible offers himself for reappointment.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 on the Directors Responsibility Statement, it is hereby confirmed:
That in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explanations relating to material departures;
That the Directors selected such accounting Policies and applied them consistently and made judgement and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the Profit or Loss of the Company for that period.
That the Directors took proper and sufficient care to maintain adequate accounting records in accordance with the provisions of this Act, to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.
That the directors prepared the annual accounts on a going concern basis.
AUDITORS : M/s A.Kay Mehra & Co., Chartered Accountants, retire at this Annual General meeting and being eligible offer themselves for re-appointment.
Compliance certificate: Provision to Sec. 383A of the Companies Act. 1956, Compliance certificate obtained from a practicing company secretary is enclosed.
PARTICULARS OF DISCLOSURES UNDER SECTION 217 OF THE COMPANIES ACT, 1956;
Information required under Section 217(2A) and 217(1)(e) of the Companies Act, 1956, are given in Annexure.
Statement persuant to section 217(2A) of the companies Act. 1956.
Read with the companies (particulars of employees) Rule, 1975
|Name, Qualification & Age in years.||Designation||on Nature of duties||Remuneration Received||Experience||Date of comm-ence ment of Employment||Last Employment|
|Dr. A.R. Sabharwal MBBS, DMRE LLB, 77 Years||Managing Director||Managerial & Administrative||Rs. 24,00,000.00||27 Years, as M.D. of Public Ltd. Co.||25.02.91||Self Employed as medical practitioner|
|Smt. A. Sabharwal B.A. B.T 69 Years||Director Admn. & Sales||Managerial & Sales||Rs. 12,00,000.00||27 Years. Director of Public Ltd.Co||1.10.94||NIL|
Directors are pleased to record their deep appreciation for the efforts put in and co-operation extended by the employees at each level. A spirit of team work and cordial relations existed throughout the year.
Your Directors wish to place on record their sincere appreciation for the continued support and accommodation extended by its bankers viz Punjab National Bank through out the year.
|Place : New Delhi||On behalf of the Board of Directors|
|Dated : 01.09.2013||Sd/-|
|Dr. A.R. SABHARWAL|
ANNEXURE TO THE DIRECTORS REPORT:
(Additional information given in terms of Notification No. GSR-1029 of 31.12.88 issued by the Department of Company Affairs)
CONSERVATION OF ENERGY:
Our plant is not a big user of energy. The total cost of electricity generated during 2012-2013 is Rs. 14.09 lacs on which we achieved a turnover of Rs. 568.43 Lacs. The percentage of cost of energy in relation to turnover therefore comes to 2.50 % only.
a) Energy Conservation measures taken:
We have 30 KVA, 45 KVA, 125 KVA and 160 KVA Gensets at our works, which are running satisfactory. The generators are periodically serviced and tunned and critical components replaced for efficiency.
The baby boiler is automatic energy saver. It automatically cuts off when steam pressure becomes sufficient. Thus it is very efficient energy saver. The boiler is descaled every 6 months.
b) We are ISO 9001:2008,13485 Company. All our devices are latest with energy saving equipment. There is no further requirment of any energy saving device. Such as all the electric motors are with shunt.
c) Impact of the measures at a) & b) above for reduction of energy consumption and consequent impact on the cost of production.
Our energy conservation efforts as described in a) above have kept the cost of production fairly low.
d) Total energy consumption and energy consumption per unit of production are shown in Form "A" annexed hereto.
Efforts made in technology upgradation as per Form "B" is annexed hereto.
FOREIGN EXCHANGE EARNINGS AND OUTGO:
Information on Foreign Exchange Earnings and outgo is given hereunder. Efforts are being made to explore possibility of increasing export within the purview of the present policy.
|Total Foreign Exchange used : Rs.||NIL|
|Total Foreign Exchange earned Rs.||19113730.33|