મેટ્રિક્સ
 
 
ક્યુબેક્ષ ટ્યુબિંગ ડિરેક્ટર્સ રિપોર્ટ, ક્યુબેક્ષ ટ્યુબિંગ ડિરેક્ટર્સ દ્વારા રિપોર્ટ

ક્યુબેક્ષ ટ્યુબિંગ

બીએસઈ: 526027  |  ઍનઍસઈ : CUBEXTUB  |  ISIN: INE144D01012  |  Metals - Non Ferrous

શોધો ક્યુબેક્ષ ટ્યુબિંગ કનેક્શન � Mar 14
ડિરેક્ટર્સ રિપોર્ટ વર્ષાન્ત : Mar '15
To
 
 The members of
 
 M/s. CUBEX TUBINGS LIMITED
 
 The directors have pleasure in presenting the 36th Annual Report of the
 Company together with the audited accounts for the year ended 31st
 March 2015.
 
 FINANCIAL RESULTS                                           (in Lakhs)
 
                                                Year ended    Year ended
                                                31.03.2015    31.03.2014
 
 Income from operations                           5587.45       4372.80
 
 Other Income                                      140.78        298.64
 
 Total Expenditure                                5676.35       4436.04
 
 Interest                                            8.63          9.36
 
 Depreciation & Amortization of Exp.               159.36        192.51
 
 Provision for Tax                                  24.12         18.20
 
 Net Profit                                         19.13         15.33
 
 THE COMPANY''S PRODUCTS / SERVICES
 
 CUBEX is manufacturer of seamless solid drawn Tubes, Rods, Bus bars and
 Wires of copper and copper based alloys such as Cupronickel, admiralty
 Brass, Aluminum Brass etc. Copper because of its high electrical
 conductivity and heat transfer characteristics finds wide application
 in the form of Tubes, Rods, Strips and Wires. The user industries are
 Power plants, Power plants manufacturers, Switchgears, Refineries,
 Furnace manufacturers, Sugar plants, Automobile, Electrical Equipment
 industries and Ship building Company.
 
 OPERATIONS
 
 Your company has registered a total income of Rs. 5728.23 lakhs for
 2014-15 as compared to Rs. 4671.44 lakhs for 2013-14 and the company
 posted a net profit of Rs. 19.13 lakhs for 2014-15 as compared to Rs.
 15.33 lakhs for 2013-14.
 
 DIVIDEND
 
 The Directors regret their inability to recommend dividend for the year
 under review due to insufficient profit.
 
 BUSINESS RISK MANAGEMENT
 
 The Company, like any other enterprise, is exposed to business risk
 which can be internal risks as well as external risks.  The threats to
 the segments in which the company operates are volatility in Exchange
 rate & Metal Prices. The company is concerned about the vide
 Fluctuations in Copper prices globally and locally and increase in
 foreign exchange value.
 
 DEPOSITS
 
 The Company has not accepted deposits covered under Chapter V of the
 Companies Act, 2013 and accordingly, the disclosure requirements
 stipulated under the said Chapter are not applicable.
 
 PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS
 
 During the year under review, the company has not given any loans,
 Guarantees and Investments covered under the provisions of Section 186
 of the Companies Act, 2013
 
 CONTRACTS AND ARRANGEMEMENTS WITH RELATED PARTIES
 
 Pursuant to clause (h) of sub-section (3)of section 134 of the Act and
 Rule 8(2) of the Companies (Accounts) Rules, 2014, except the
 remuneration to managerial personnel, there is no other related party
 transactions to be disclosed.
 
 EXTRACT OF ANNUAL RETURN
 
 The details forming part of the extract of the Annual Return in form
 MGT-9 is annexed herewith elsewhere in the Annual Report.
 
 DEMAT SUSPENSE ACCOUNT UNCLAIMED SHARES
 
 As on 31st March 2015, there were no Equity Shares of Shareholders were
 lying in the Escrow Account due to non- availability of the correct
 particulars.
 
 CORPORATE GOVERNANCE
 
 Your Directors are happy to report that your Company is compliant with
 the Corporate Governance requirements as per Clause 49 of the Listing
 Agreement with the Stock Exchanges. A separate section on Corporate
 Governance together with a certificate from the Statutory Auditor''s
 confirming compliance is set out in the Annexure forming part of this
 report.
 
 MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
 
 A Management Discussion and Analysis Report, has been attached and
 forms part of the Annual Report.  ADDITIONAL INFORMATION AS REQUIRED U/
 S 134(3)(m) OF THE COMPANIES ACT, 2013
 
 (a) Conservation of Energy:
 
 The Company is monitoring the consumption of energy and is identifying
 measures for conservation of energy.  (i) the steps taken by the
 company for utilising alternate sources of energy -Nil (ii) the capital
 investment on energy conservation equipments - Nil
 
 (b) (i) Technology Absorption, adaptation and innovation:- Indigenous
 Technology is involved for the manufacturing the products of the
 Company.
 
 (ii) Research and Development (R & D): No research and Development has
 been carried out.
 
 (c) Foreign exchange earnings: Rs. 802.58 Lakhs
 
 (d) Foreign exchange out go: Rs. 35.17 Lakhs
 
 PARTICULARS OF EMPLOYEES
 
 The Directors are to report that none of the employee was in receipt of
 remuneration exceeding the limit prescribed under rule 5(2) of the
 Companies (Appointment and Remuneration of managerial Personnel) Rules
 2014
 
 STATUTORY AUDITORS
 
 M/s. P. Murali & Co., Chartered Accountants, Statutory Auditors of the
 Company retire at the conclusion of the ensuing Annual General Meeting
 and are eligible for reappointment. The said Auditors have furnished
 the Certificate of their eligibility for re-appointment. Pursuant to
 the provisions of Section 139 of the Companies Act, 2013 and the Rules
 framed thereunder. Accordingly the statutory auditor of the Company was
 reappointed from the conclusion of the previous AGM till the conclusion
 of the AGM to be held in the year 2017, subject to ratification of
 their appointment at the subsequent AGMs.
 
 BOARD AND COMMITTEES PERFORMANCE EVALUATION
 
 Pursuantto the provisions of the Companies Act, 2013 and Clause 49 of
 the Listing Agreement, the Board has carried out an annual performance,
 the directors individually as well as the evaluation of the working of
 its Audit and Nomination & Remuneration Committees.
 
 NUMBER OF BOARD MEETINGS HELD DURING THE FINANCIAL YEAR AND THE DATES
 OF THE BOARD MEETINGS:
 
 The Board met six times during the financial year 2014-2015.
 
 The dates on which the above Board meetings were held are as follows;
 30th May 2014, 4th August 2014, 13th August 2014, 13th November 2014,
 14th February 2015, and 30th March 2015.
 
 DIRECTORS & INDEPENDENT DIRECTORS
 
 At the 35th Annual General Meeting of the Company held on 29th
 September 2014, the Members of the Company had appointed Independent
 Directors of the Company, for a period of 5 years. All Independent
 Directors have given declarations that they meet the criteria of
 independence as laid down under Section 149(6) ofthe Companies Act,
 2013 and Clause 49 ofthe Listing Agreement. It is also proposed in this
 AGM to appoint Mr. Sandeep Kumar as Independent Director.  During the
 period under review, the company has appointed Mrs. Veena Bhandari as
 Additional Director and it is proposed to appoint her as the Director
 in this AGM.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 134(3)(c)of the Companies
 Act, 2013, with respect to Directors responsibilities Statement it is
 hereby confirmed:
 
 a.  That in preparation of the annual accounts, the applicable
 accounting standards have been followed along with proper explanation
 relating to material departures ;
 
 b.  That the directors have selected such accounting policies and
 applied them consistently and made judgments 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 ofthe financial year ended 31st
 March, 2015 and ofthe profit and loss ofthe company for that period;
 
 c.  That the directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguarding the assets of the company and
 for preventing and detecting fraud and other irregularities;
 
 d.  That the directors have prepared the annual accounts on a going
 concern basis.
 
 e.  that proper internal financial controls were in place and that the
 financial controls were adequate and were operating effectively;
 
 f.  that systems to ensure compliance with the provisions of all
 applicable laws were in place and were adequate and operating
 effectively.
 
 POLICIES
 
 Material Subsidiary
 
 During the year ended March 31, 2015, the Company does not have any
 material listed/unlisted subsidiary companies as defined in Clause 49
 ofthe Listing Agreement. The policy on determining material unlisted
 subsidiary ofthe Company is approved by the Board of Directors ofthe
 company.
 
 Vigil Mechanism
 
 The Board of Directors of the company are committed to maintain the
 highest standard of honesty, openness and accountability and recognize
 that employees have important role to play in achieving the goal. As a
 public company the integrity ofthe financial matters ofthe Company and
 the accuracy of financial information is paramount. The stakeholders
 ofthe Company and the financial markets rely on this information to
 make decisions. For these reasons, the Company must maintain workplace
 where it can retain and treat all complaints concerning questionable
 accounting practices, internal accounting controls or auditing matters
 or concerning the reporting of fraudulent financial information to our
 shareholders, the Government or the financial markets. The employees
 should be able to raise these free of any discrimination, retaliation
 or harassment. Pursuant to the policy, employees are encouraged to
 report questionable accounting practices to Mr. Mahendra Kumar Ranka,
 Chairman of Audit Committee through email or by correspondence through
 post.
 
 Familiarisation programme for Independent Directors
 
 Pursuantto the provisions of Clause 49 of the Listing Agreement, the
 Company has formulated a programme for familiarising the Independent
 Directors with the company, their roles, rights, responsibilities in
 the company, nature of the industry in which the company operates,
 business model of the company etc through various initiatives.
 
 Key Managerial Personnel
 
 Sri. Siva Prasad Sarva, Chief Financial Officer was appointed as Key
 Managerial Personnel in accordance with the Section 203 of the
 Companies Act, 2013.
 
 Related Party Transaction
 
 Policy on dealing with Related Party Transactions is approved by the
 Board
 
 No related party transactions were entered into during the financial
 year under review, There are no materially significant related party
 transactions made by the Company with Promoters, Directors, Key
 Managerial Personnel or other designated persons which may have a
 potential conflict with the interest of the Company at large. The same
 was discussed by the Audit Committee as also the Board. The policy on
 Related Party Transactions as approved by the Board. None of the
 Directors has any pecuniary relationships or transactions vis-a-vis the
 Company.
 
 Internal Financial Controls
 
 The Company has in place adequate internal financial controls with
 reference to financial statements. Periodic audits are undertaken on a
 continuous basis covering all the operations i.e., manufacturing, sales
 & distribution, marketing, finance, etc. Reports of internal audits are
 reviewed by management from time to time and desired actions are
 initiated to strengthen the control and effectiveness of the system.
 
 Secretarial Audit
 
 Pursuant to the provisions of Section 204 of the Companies Act, 2013
 and the Companies(Appointment and Remuneration of Managerial Personnel)
 Rules, 2014, the Secretarial Audit Report is obtained by the company
 and forms part of this Annual report.
 
 Disclosures pursuant to The Companies (Appointment and Remuneration of
 Managerial Personnel) Rules, 2014
 
 1.  The Disclosures pursuant to sub-rule (1) of Rule 5 of The Companies
 (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are
 forms part of the Board''s Report.
 
 2.  The Disclosures pursuant to sub-rule (2) of Rule 5 of The Companies
 (Appointment and Remuneration of Managerial Personnel) Rules, 2014, in
 respect of employees of the Company forms part of the Board''s Report.
 
 Remuneration Policy
 
 The Board has, on the recommendation of the Nomination & Remuneration
 Committee framed a policy for selection and appointment of Directors,
 Senior Management and their remuneration. The details pertaining to
 criteria for determining qualifications, positive attributes and
 independence of a Director and remuneration policy have been provided
 in Section of the attached Corporate Governance Report.
 
 Significant and Material Orders Passed by the Regulators or Courts
 
 There are no significant material orders passed by the
 Regulators/Courts which would impact the going concern status of the
 Company and its future operations Disclosure Under the Sexual
 Harassment of Women at Workplace (Prevention, Prohibition and
 Redressal) Act, 2013
 
 The Company has in place an Anti Sexual Harassment Policy in line with
 the requirements of Sexual Harassment of Women at Workplace
 (Prevention, Prohibition and Redressal) Act 2013. An Internal committee
 has been set up to redress the complaints received regarding sexual
 harassment at workplace. All employees including trainees are covered
 under this policy.
 
 PERSONNEL
 
 The relationship between the management and the staff was very cordial
 throughout the year under review. Your Directors take this opportunity
 to record their appreciation for the cooperation and loyal services
 rendered by the employees.
 
 ACKNOWLEDGEMENTS
 
 Your Directors place on record their appreciation of the continuous
 assistance and co-operation extended to your Company by the valued
 customers, bankers, Reserve Bank India, SEBI, Bombay Stock Exchange
 Limited & National Stock Exchange of India Limited and all other
 regulatory Authorities. The Directors also sincerely acknowledge the
 significant contributions made by all the employees for their dedicated
 services to the Company.
 
                                For and on behalf of the board
 
                                 For CUBEX TUBINGS LIMITED
 
 PLACE: Hyderabad.       P.R.BHANDARI                 VIRENDRABHANDARI
 
 DATE: 13.08.2015       Managing Director            Executive Director
 
                                     Siva Prasad Sarva
 
                                  Chief Financial Officer
સ્તોત્ર: રેલીગેર ટેકનોવા


ન્યૂઝ ફ્લૅશ

  • સન ફાર્મા અમેરિકામાં Imatinib Mesylate લોન્ચ
  • કારોબાર : શૅર્સ સંબધિત પ્રશ્નો પૂછવા માટે BH (SPACE) STOCK સાથે તમારું નામ અને ફોન નંબર લખીને મેસેજ કરો 51818 પર
  • કારોબાર : BH (SPACE) આપના સ્ટોકની વિગત, સાથે જ આપનું નામ લખી 51818 પર મેસેજ કરો અને અમારા ટોલ ફ્રી નંબર 1800-4190-709 પર કાૅલ કરો અને જવાબ મેળવો અમારા ખાસ શાૅ બજાર હેલ્પલાઇનમાં સોમવારથી શુક્રવાર સવારે 11.30 કલાકે
  • કારોબાર : પર્સનલ ફાઇનાન્સને લગતા તમારા કોઈ પ્રશ્ન હોય તો તમે અમને money@network18online.com પર મોકલી શકો છો. તમારા સવાલના જવાબ મની મૅનેજરમાં આપવામાં આવશે
  • કારોબાર : ચીનના આર્થિક આંકડાઓ જાન્યુઆરી Caixin ફાઈનલ મેન્યુફેક્ચરીંગ PMI 48.2 થી વધી 48.4 (MoM)
  • કારોબાર : US FDAની મંજૂરી મળી ઓરોબિન્દો ફાર્માને ડાયાબિટિશની દવા Saxagliptin માટે મંજૂરી મળી
  • કારોબાર : US FDAની મંજૂરી મળી ડો.રેડ્ડીઝને બેક્ટેરિયલ ઈન્ફેક્શનની દવા ડોક્સીસાયક્લીન માટે મંજૂરી મળી
  • કારોબાર : US FDAની મંજૂરી મળી માઈગ્રેનની દવા Sumatriptan માટે ડો.રેડ્ડીઝને મંજૂરી મળી
  • કારોબાર : જાપાનના આર્થિક આંકડાઓ જાન્યુઆરીમાં મેન્યુફેક્ચરીંગ PMI 52.6 થી ઘટી 52.3 (MoM)
  • કારોબાર : વકરાંગીએ ટાટા AIG જનરલ ઈન્શ્યોરન્સ કંપની સાથે કરાર કર્યા

Now Playing

બજાર સમાચાર