મેટ્રિક્સ
 
 
ગુજરાત ક્રાફ્ટ ઇન્ડસ્ટ્રીઝ ડિરેક્ટર્સ રિપોર્ટ, ગુજરાત ક્રાફ્ટ ઇન્ડસ્ટ્રીઝ ડિરેક્ટર્સ દ્વારા રિપોર્ટ

ગુજરાત ક્રાફ્ટ ઇન્ડસ્ટ્રીઝ

બીએસઈ: 526965  |  ઍનઍસઈ : N.A  |  ISIN: INE372D01019  |  Textiles - Manmade

શોધો ગુજરાત ક્રાફ્ટ ઇન્ડસ્ટ્રીઝ કનેક્શન � Mar 14
ડિરેક્ટર્સ રિપોર્ટ વર્ષાન્ત : Mar '15
 Dear Member
 
 The Directors are pleasured to present the 31st ANNUAL REPORT together
 with the Audited Financial Statements for the Financial Year 2014-15
 ended on 31st March, 2015.
 
 1.  FINANCIAL RESULTS:
 
                                                          (Rs. in lacs)
 
 Particulars                                         2014-15     2013-14
 
 Operating Profit (Before Interest & Depreciation)    686.50      591.87
 
 Less : Financial Expenses                            359.26      281.45
 
 Profit before Depreciation                           327.24      310.42
 
 Less : Depreciation                                  184.99      131.98
 
 Profit before tax                                    142.25      178.44
 
 Less : Provision for current Tax (after
 MAT credit)                                           29.33       36.69
 
 (Add): MAT Credit                                   (27.39)     (22.26)
 
 Less: Tax of earlier Year                              1.21        -
 
 Less: Deferred Tax Liability                          55.46       47.05
 
 Profit aftertax                                       83.64      116.96
 
 Add: Balance Brought Forward from Previous year      582.21      465.25
 
 Less: Effect of change in accounting policy for
 Depreciation                                         (9.26)         -
 
 Balance carried to Balance Sheet                    656.59      582.21
 
 There are no material changes and commitment affecting the financial
 position of the Company which have occurred between 1st April, 2015 and
 date of this report.
 
 2.  DIVIDEND:
 
 With a view to conserve the resources for the working capital
 requirement of the Company, your Directors have not recommended any
 dividend for the year under review.
 
 3.  REVIEW OF OPERATIONS:
 
 The Gross revenue from operations during the year under review was Rs.
 9727 lacs as compared to Rs. 9707 lacs during 2013-14.
 
 The Operating Profit (Before Interest and Depreciation) was Rs.  686.50
 lacs during the year under review compared to Rs.  591.87 lacs during
 2013-14 showing an increase of 16%. The Profit before Tax for the year
 under review was Rs. 142.25 lacs against Rs.  178.44 lacs during
 2013-14. The Net Profit of the Company stood at Rs.83.64 lacs compared
 to Rs.  116.96 lacs for the year 2013-14.
 
 The company has made export at FOB value of Rs.  3317.01 lacs during
 the year under review compared to Rs.  3843.71 lacs during 2013-14. The
 management is of the firm opinion that during the current year, the
 export market will improve and in turn, the exports of the Company will
 increase to a greater extent.
 
 4.  RECOGNITION AS EXPORT HOUSE:
 
 The Director General of Foreign Trade, on the basis of Export
 performance of the Company, has accorded / recognised the Company as
 Export House.
 
 5.  FINANCE:
 
 The Company is enjoying Financial Assistance in the form of term loans
 and working capital facilities from State Bank of India.
 
 6.  DIRECTORS:
 
 6.1 Mr. Rishab Chhajer (DIN: 05184646) retires by rotation in terms of
 the Articles of Association of the Company. However, being eligible
 offers himself for reappointment.
 
 6.2 Ms. Swati S. Gupta (DIN: 07144628), being Independent Director, is
 being appointed for a term of 5 years as per provisions of the
 Companies Act, 2013.
 
 6.3 Mr. Binod Chhajer ceased to be Director w.e.f. 31st March, 2015
 upon resignation.
 
 6.4 The Board of Directors duly met 8 times during the financial year
 under review.
 
 6.5 The Board has made necessary evaluation of its own performance and
 that of its commitments and of individual Directors.
 
 6.6 The performance evaluation of the Chairman, Executive and
 Non-Executive Directors was carried out by at the meeting of the
 Independent Directors held on 31st March, 2015.
 
 6.7 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Pursuant to the requirement of Section 134 of the Companies Act, 2013,
 it is hereby confirmed:
 
 (i) that in the preparation of the annual accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departures;
 
 (ii) that the Directors had 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 31st March, 2015 being end of the
 financial year 2014-15 and of the profit of the Company for the year;
 
 (iii) that the Directors had taken proper and sufficient care for
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act, 2013 for safeguarding the assets of
 the Company and for preventing and detecting fraud and other
 irregularities;
 
 (iv) that the Directors had prepared the annual accounts on a going
 concern basis.
 
 (v) the Directors, had laid down internal financial controls to be
 followed by the Company and that such internal financial controls are
 adequate and were operating effectively.
 
 (vi) the Directors had devised proper systems to ensure compliance with
 the provisions of all applicable laws and that such systems were
 adequate and operating effectively.
 
 7.  MANAGERIAL REMUNERATION:
 
 7.1 REMUNERATION OF DIRECTORS:
 
 Sr.   Name of the Director   Remuneration           %       Parameters
 No.   & Designation          for the year         increase
                               2014-15            over last
                                                    year
 
 
 
 1.   Mr. Ashok Chhajer,      Rs. 13,20,000/-         -           -
      Managing Director
 
 2.   Mr. Rishab Chhajer,      Rs. 6,60,000/-         -           -
      Jt. Managing Director
 
 
 Sr.   Name of the Director           Median      Ratio    Commission
 No.   & Designation                    of                  received
                                      Employees                from
                                   Remuneration             Holding/
                                                            Subsidiary
 
 1.   Mr. Ashok Chhajer,              1,01,454     13.01         N.A.
      Managing Director
 
 2.   Mr. Rishab Chhajer,             1,01,454     6.51          N.A.
      Jt. Managing Director
 
 The Board of Directors has framed a Remuneration Policy that assures
 the level and composition of remuneration is reasonable and sufficient
 to attract, retain and motivate Directors, Key Managerial Personnel and
 Senior Management to enhance the quality required to run the Company
 successfully. The Relationship of remuneration to performance is clear
 and meets appropriate performance benchmarks. All the Board Members and
 Senior Management personnel have affirmed time to time implementation
 of the said Remuneration policy.
 
 7.2 MARKET CAPITALISATION:
 
 Sr. No. Particulars                 As on 31-03-2015   As on 31-03-2014
 
 1.      No. of Shares                  48,88,300           41,08,300
 
 2.      Market price                     15.16                 8.16
 
 3.      Market Capitalisation
         (Rs.  In lacs)                  741.07               335.24
 
 4.      EPS                               1.71                 3.10
 
 5.      P/E Ratio                         8.86                 2.63
 
 8.  KEY MANAGERIAL PERSONNEL:
 
 8.1 % INCREASE IN REMUNERATION OF DIRECTORS & KMP
 
 Sr. No. Name of the Director & KMP      Designation         Percentage
                                                              Increase
                                                              (If any)
 
 1.      Mr. Ashok Chhajer             Managing Director           -
 
 2.      Mr. Rishab Chhajer            Jt. Managing Director       -
 
 3.      Mr. Raichand Golchha#         CFO                         -
 
 * Appointed during the year 2014-15.
 
 8.2 COMPARISON BETWEEN REMUNERATION OF KMP & PERFORMANCE OF THE
 COMPANY:
 
 As per the Remuneration Policy and based on the Recommendation of
 Nomination & Remuneration Committee the Relationship of remuneration to
 KMP & performance of Company is clear and meets appropriate performance
 benchmarks.
 
 9.  PERSONNEL AND H. R. D.:
 
 9.1 INDUSTRIAL RELATIONS:
 
 The industrial relations continued to remain cordial and peaceful and
 your Company continued to give ever increasing importance to training
 at all levels and other aspects of H. R. D.
 
 The Number of permanent Employees of the Company are one hundred. The
 relationship between average increase in remuneration and Company''s
 performance is as perthe appropriate performance benchmarks and
 reflects short and long term performance objectives appropriate to the
 working of the Company and its goals.
 
 9.2 PARTICULARS OF EMPLOYEES:
 
 There is no Employee drawing remuneration requiring disclosure under
 Rule 5(2) of Companies Appointment & Remuneration of Managerial
 personnel) Rules, 2014.
 
 10. PREFERENTIAL ALLOTMENT OF EQUITY SHARES:
 
 As communicated in the Directors'' Report for the year 2013-14, the
 Company, in the month of April, 2015, has allotted 7,80,000 Equity
 Shares (upon conversion of 7,80,000 Equity Warrants of Rs.  10/- each)
 of Rs.  10/- each at a premium of Rs.  17/- per share to Promoters &
 Promoters'' group. There are no material variations between the
 projections and actual utilization of the funds raised through
 Preferential Allotment by the Company during the year 2014-15.
 
 11. RELATED PARTY TRANSACTION AND DETAILS OF LOANS, GUARANTEES,
 INVESTMENT & SECURITIES PROVIDED:
 
 Details of Related Party Transactions and Details of Loans, Guarantees
 and Investments covered under the provisions of Section 188 and 186 of
 the Companies Act, 2013 respectively are given in the notes to the
 Financial Statements attached to the Directors'' Report.
 
 12. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO:
 
 The information required under Section 134(3)(m) of the Companies Act,
 2013 and rule 8(3) of Companies (Accounts) Rules, 2014, relating to the
 conservation of Energy and Technology Absorption forms part of this
 report and is given by way of Annexure- A.
 
 13. CORPORATE GOVERNANCE AND MDA:
 
 As per Clause 49 of the Listing Agreement and the Companies Act, 2013,
 Report on Corporate Governance and Management Discussion and Analysis
 (MDA) form part of this Annual Report. A certificate regarding
 compliance with the conditions of Corporate Governance as stipulated in
 clause 49 of the listing agreement is also appended to the Annual
 Report as Annexure - B.
 
 14. SECRETARIAL AUDIT REPORT:
 
 Your Company has obtained Secretarial Audit Report as required under
 Section 204(1) of the Companies Act, 2013 from M/s. Pinakin Shah & Co.,
 Company Secretaries, Ahmedabad. The said Report is attached with this
 Report as Annexure - C. As regards the observation of the Auditors, the
 Company is in the process of identifying and appointing Company
 Secretary.
 
 15. EXTRACT OF ANNUAL RETURN:
 
 The extract of Annual return in Form - MGT-9 has been attached herewith
 as Annexure - D.
 
 16. AUDIT COMMITTEE/ NOMINATION AND REMUNERATION COMMITTEE/
 STAKEHOLDERS'' RELATIONSHIP COMMITTEE:
 
 The details of various committees and their functions are part of
 Corporate Governance Report.
 
 17. DEMATERIALISATION OF EQUITY SHARES:
 
 Shareholders have an option to dematerialise their shares with either
 of the depositories viz. NSDL & CDSL. I SI N for Equity Shares of the
 Company is: INE372D01019.
 
 18. LISTING:
 
 The Equity Shares of the Company are listed at BSE Limited, Ahmedabad
 Stock Exchange Limited and Madras Stock Exchange Limited. The Company
 is generally regular in payment of Annual Listing Fees. The Company has
 paid Listing fees up to the year 2015-16. SEBI vide its order dated
 14th May, 2015, has granted exist to Madras Stock Exchange Limited
 (MSE) as a Stock Exchange and in view of the same MSE has been
 de-recognised as Regional Stock Exchange.
 
 19. GENERAL:
 
 19.1. AUDITORS:
 
 The present Auditors of the Company M/s. Kantilal Patel & Co, Chartered
 Accounts, Ahmedabad will retire at the ensuing 31st Annual General
 Meeting and are eligible for reappointment. The Company has obtained
 from them the written Certificate to the effect that their
 reappointment as Auditors of the Company for period of 2 years
 commencing from the Financial Year 2015-16 to 2016-17, if made, will be
 in accordance with in the provisions of Section 139 and 141 of the
 Companies Act, 2013. The remarks of auditor and notes on accounts are
 self explanatory.
 
 19.2 INSURANCE:
 
 The Company''s properties including Building, Plants, and Machineries,
 Stock, Stores etc.  continued to be adequately insured against risks
 such as fire, riots, strikes etc.
 
 19.3 DEPOSITS:
 
 The Company has not accepted any Deposits from general public or from
 Shareholders during the year under review.
 
 19.4 RISKS MANAGEMENT POLICY:
 
 The Company has a risk management policy, which from time to time, is
 reviewed by the Audit Committee of Directors as well as by the Board of
 Directors. The Policy is reviewed quarterly by assessing the threats
 and opportunities that will impact the objectives set for the Company
 as a whole. The Policy is designed to provide the categorization of
 risk into threat and its cause, impact, treatment and control measures.
 As part of the Risk Management policy, the relevant parameters for
 protection of environment, safety of operations and health of people at
 work and monitored regularly with reference to statutory regulations
 and guidelines defined by the Company.
 
 19.5 SUBSIDIARIES/ASSOCIATES/JVS:
 
 The Company does not have any Subsidiaries/ Associates Companies / JVs.
 
 19.6 CODE OF CONDUCT:
 
 The Board of Directors has laid down a Code of Conduct applicable to
 the Board of Directors and Senior Management. All the Board Members and
 Senior Management personnel have affirmed compliance with the code of
 conduct.
 
 19.7 SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
 OR TRIBUNALS:
 
 There has been no significant and material orders passed by any
 regulators or courts or tribunals, impacting the going concern status
 of the Company and its future operations.
 
 19.8 DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
 (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:
 
 The Company has in place an Anti Sexual Harassment Policy, in line with
 the requirements of the Sexual Harassment of Women at Workplace
 (Prevention, Prohibition and Redressal) Act, 2013.  During the year
 under review, the Company did not receive any complaint.
 
 19.9 INSTANCES OF FRAUD, IF ANY REPORTED BY THE AUDITORS:
 
 There have been no instances of fraud reported by the Auditors under
 Section 143(12) of the Companies Act, 2013.
 
 20. ACKNOWLEDGMENT:
 
 Your Directors express their sincere gratitude for the assistance and
 co operation extended by Financial Institutions, Banks, Government
 Authorities, Shareholders, Suppliers and Customers.
 
 Your Directors also wish to place on record their appreciation of the
 contribution made by the employees at their levels towards achievements
 of the Company''s goals.
 
                                         For and on behalf of the Board,
 
 Place : Ahmedabad.                 Rishab Chhajer         Ashok Chhajer
 Date : 29th July, 2015.   Joint Managing Director     Managing Director
 
 
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