kailas rubber company ltd Directors report

DIRECTORS

To the members of The Kailas Rubber Company Limited

The Directors have, pleasure in presenting the Annual Report and the audited accounts of The Kailas Rubber Company Limited for the year ended March 31,2014.

Performance

The total rubber production decreased by 4% during the current year from 3.23 lakhs kgs to 2.62 lakhs kgs . This was occasioned by stoppages in rubber tapping at the Paalali estate on account of labour strikes . The turnover decreased from Rs 7.78 crores to 7.10 crores during 2013-14. The average sales realization during the current year was Rs 171.59 per kg compared to Rs 169.39 per kg in the previous year . The Income from slaughter tapping also increased from 1.35 crores in the previous year to Rs 1.43 crores during the current year .The profit before tax decreased during the period under review from 4.33 crores to 3.74 crores

The summarised results of the Company are given below:

	2013-14	2012-13
	Rs.	Rs.
Total Revenue	7.10.34.800	7.77.93.900
. Profit before taxation	3,73,55,200	4,33,63,500
Provision for taxation	(32,58,200)	(34,28,000)
Taxation adjustments of previous years (net)	1.20.400	18.700
Profit after taxation	3,42,17,400	3,99,54,200
Profit and loss account balance as at April 1, 2013	20.08.08.300	17.04.51.200
Amount available for appropriations	23,50,25,700	21,04,05,400
Appropriation
Transfer to General Reserve during the year	(39,95,000)	(56,80,000)
Dividend on equity	(39.17.100)	t39.17.100)
	22.71.13.600	20.08.08.300

PROFIT AND LOSS ACCOUNT BALANCE AT MARCH 31, 2014

Future prospects

The Company expects the rubber prices to remain steady during the year .The Company replanted 8 hectares in Paalali estate during the year under review and is planning to replant 2 hectares in the Paalali estate during the coming year

Dividend

The Directors recommend a dividend of Rs 30 per share. The dividend , together with the corporate income tax on distributed profit will absorb a sum of Rs 68,28,900/-

Directors responsibility statement

In compliance of Section 217 (2AA) of the Companies Act, 1956 as amended by the Companies (Amendment) Act, 2000, the Directors of the Company confirm:

- that the applicable accounting standards have been followed in the preparation of final accounts and that there have been no material departures from there standards

- that such accounting policies have been selected and applied consistently and such judgements 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 at March 31, 2014 and of the profit of the Company for the year ended on that date;

- that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

- that the annual accounts have been prepared on a going concern basis.

Secretarial Compliance Certificate

In accordance with Section 383A of the Companies Act 1956 as amended by The Companies (Amendment) Act 2000, a copy of the Secretarial Compliance Certificate is attached to this report.

Directors

Mr A V George & Cdr Mani Thomas , retire by rotation at this annual general meeting and being eligible offer themselves for reappointment

Cost Audit

Mr C Narayanan Nampoothiri , Cost Accountant was appointed as Cost Auditor of the company for conducting Cost Audit for the financial year ended March 31 , 2014 The Central Government has duly approved his appointment.

The Cost Audit Report for the financial year ended 2012-13 was filed with the Central Government on 28-10-2013

Auditor

The auditor of the Company, Mr. T.K. Kuruvilla, retires at this Annual General Meeting and is eligible for re-appointment.

Information under Sections 217(l)(e) and 217(2A)

Disclosure of the particulars of conservation of energy, technology absorption and foreign exchange earnings and outgoings in terms of section 217(i)(e) is not applicable as the Company is engaged in plantation activities which are not energy intensive and hence no energy conservation measures were undertaken. Considering the nature of activities no comment is made on technology absorption and there have been no foreign exchange transactions during the year.

The Company has no employee in respect of whom information under section 217(2A) of the Companies Act, 1956 is required to be given in the Directors Report.

	On behalf of the Board of Directors
	G.J. ANCHERIL - Whole-time Director
Kottayam, May 30, 2014	MARY ALEX -Whole-time Director