Today's Top Gainer
Note:Top Gainer - Nifty 50 More
|(Rs. In lacs)|
|Gross Operating Profit||28.24||462|
|Depreciation for the year||5.12||45|
|Profit/ (Loss) Before Extraordinary items and Tax||23.11||417|
|Profit Before Tax (PBT)||23.11||417|
|Provision for Tax including Deferred Tax||9.71||(64)|
|NetProfit After Tax(PAT)||13.41||480|
|Add : Surplus/Loss brought forward from previous year||4568||4088|
|Profit available for Appropriation||4581||4568|
|Balance carried forward||4581||4568|
GENERAL REVIEW OF OPERATIONS AND THE STATE OF COMPANYS AFFAIRS
During the year under review the Company has achieved turnover of Rs.1.25 lacs on sales of product on trial run basis as compared to last year turnover Rs 107 lacs revenue came from its Wind Mill Division hence the result is not comparable. Company has reported profit after tax including deferred tax Rs.13.41 lacs as compared to Rs 417 lacs last year (which include the profit on sales of Wind Mill Division) hence not comparable. The Company has started setting up a new project for manufacturing Titanium Dioxide at Gujarat (for more Details please refer to future outlook).
Your Directors are pleased to report on-schedule progress in the new Project for production of both Anatase and Rutile grade of Titanium Dioxide (annual capacityof 15000 tons) at Dahej, Gujarat. During the year under review, extensive progress has been made in civil and structural work and ordering and delivery of key equipments from most-reputed suppliers in each equipment category. Several of the imported equipments have also arrived at the Project site and are in various stages of erection along with electrical cabling and process piping.
The Company has obtained all relevant utility clearances with respect to availability of Water, Electricity and Natural Gas and other necessary regulatory clearances are in order.
The Project is on schedule for trial production and commissioning to commence within the second quarter of the 2017-18 financial year.
The Company has formulated risk management Policy which is well defining mechanism to identify, assess, monitorand mitigate various risks to key business objectives.
On continuous basis risks are indentify by the functional heads and which discussed at various Committee or group level including Audit Committee and Board of Directors and systematically address to mitigate risk.
INTERNAL FINANCIAL CONTROLS
The company has in place the adequate internal financial controls systems with reference to Financial Statements. During the year, such controls were tested and no reportable material weakness was observed.