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ઈંટીગ્રેટેડ થેર્મોપ્લાસ્ટીક્સ ડિરેક્ટર્સ રિપોર્ટ, ઈંટીગ્રેટેડ થેર્મોપ્લાસ્ટીક્સ ડિરેક્ટર્સ દ્વારા રિપોર્ટ

ઈંટીગ્રેટેડ થેર્મોપ્લાસ્ટીક્સ

બીએસઈ: 530921  |  ઍનઍસઈ : N.A  |  ISIN: INE038N01015  |  Plastics

શોધો ઈંટીગ્રેટેડ થેર્મોપ્લાસ્ટીક્સ કનેક્શન � Mar 13
ડિરેક્ટર્સ રિપોર્ટ વર્ષાન્ત : Mar '14
Dear Members
 
 We hereby present the 20th Annual Report and the Audited Statement of
 Accounts for the Financial Year ended 31st March, 2014.
 
 1. FINANCIAL RESULTS:
 
                                                            Amount (Rs)
 
 PARTICULARS                            31-03-2014           31-03-2013
 
 Revenue from Operations           35,84,30,924.00      68,89,13,958.00
 
 Other Income                         17,08,511.00         20,92,724.00
 
 Total Revenue                     36,01,39,435.00      69,10,06,682.00
 
 Total Expenses                    37,39,77,724.00      68,32,26,828.00
 
 Profit/(Loss) Before Tax         (1,38,38,289.00)         77,79,854.00
 
 Less: Current Tax                               -         37,49,686.00
 
 Add: Deferred Tax                       44,258.00          4,23,702.00
 
 Add: Transfer from Reserve                      -                    -
 
 Net Profit/(loss)                (1,38,82,547.00)         36,06,466.00
 
 
 2) REVIEW OF OPERATIONS
 
 Due to power cuts and loss of man hours on the state bifurcation issue
 in the financial year 2013-14, your Company revenue has come down from
 Rs. 68.89 cores to Rs. 35.84 crores which has resulted a net loss of
 Rs. 1,38,82,547.00
 
 3) FUTURE OUTLOOK
 
 With the recovery of economy and stable government in place, your
 Company would do better in the current financial year and the future
 will be good.
 
 4) DIRECTORS
 
 Appointment of Mrs. Aravinda Rani Vemuri (DIN: 01241976) as a Director
 
 Pursuant to Section 152 of the Companies Act, 2013, the Board, in a
 view to expand the Board and to comply with the provisions of new
 Companies Act, 2013, recommends the appointment of Mrs Aravinda Rani
 Vemuri as the Director of the Company in the ensuing Annual General
 Meeting, liable to retire by rotation.
 
 Appointment of Mr. Shaik Chand Basha (DIN: 01242030) and Mr.
 Sreenivasulu Reddy Angitapalli (DIN: 02956004) as Independent Directors
 
 Pursuant to Section 149 of Companies Act, 2013, Mr. Shaik Chand Basha
 (DIN: 01242030) and Mr. Sreenivasulureddy Angitapalli (DIN: 02956004)
 will retire in the ensuing Annual General Meeting and being eligible
 seeks re-appointment. The Board of Directors recommends their re
 appointment. Sub-section (10) of Section 149 of the Companies Act,
 2013, provides that independent directors shall hold office for a term
 of 5 consecutive years on the Board of the Company, and shall be
 eligible for re-appointment of the said term only by passing a Special
 Resolution by the shareholders of the Company.
 
 Sri. S.P.Y. Redddy and Sri. T. Ravi Kumar Reddy ceased to be directors
 of the company with effect from 01.04.2014 & 01.09.2014 respectively.
 Dr. V. Chanddra Shkara Reddy resigned as Managing Director of the
 Company with effect from 14.08.2014
 
 5) DIRECTORS'' RESPONSIBILITY STATEMENT
 
 To the best of their knowledge and belief and according to the
 information and explanations obtained by them your Directors make the
 following statement in terms of Section 217 (2AA) of the Companies Act,
 1956:
 
 I. In the preparation of the Annual Accounts, the applicable accounting
 standards have been followed along with proper explanation relating to
 material departures, if any.
 
 II. Appropriate accounting policies have been selected and applied
 consistently and have 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 as at March 31, 2014 and of the loss of the company for
 the year ended on that date.
 
 III. 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.
 
 IV. The annual accounts have been prepared on a going concern basis.
 
 6) CORPORATE GOVERNANCE
 
 (a) Management Discussion and Analysis Report is enclosed.
 
 (b) As per Clause 49 of the Listing Agreement with the Stock Exchanges,
 a separate section on Corporate Governance Practices followed by the
 Company together with a certificate from the Company''s Auditor
 confirming compliance is set out in the Annexure forming part of this
 report.
 
 7) FIXED DEPOSITS
 
 The Company has not invited and raised any fixed deposits as on 31st
 March, 2014 in terms of the provisions of Section 58A of the Companies
 Act, 1956 read with the Companies (Acceptance of Deposits) Rules, 1975
 as amended from time to time. There are no outstanding or unclaimed
 deposits as on 31st March, 2014.
 
 8) PARTICULARS OF EMPLOYEES:
 
 During the year under review, no employee of the company was in receipt
 of remuneration for the whole year which in the aggregate was Rs
 60,00,000/- or more per annum nor was any employee in receipt of
 remuneration Rs. 5,00,000/- or more per month for any part of the year
 in accordance with the provisions of Section 217(2A) of the Companies
 Act, 1956, read with the Companies (Particulars of Employees) Rules,
 1975 as amended.
 
 During the year under review, industrial relations of the company
 continued to be cordial and peaceful.
 
 9) PARTICULARS REGARDING ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND
 FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 Details of Energy Conservation, Research & Development, Technology
 Absorption, Foreign Exchange Earnings and Outgo as required under
 section 217(1)(e) of the Companies Act, 1956 read with the Companies
 (Disclosure of Particulars in the Report of Board of Directors) Rules,
 1988, are given in Annexure A to the Directors Report.
 
 10) AUDITORS:
 
 M/s L.B. Reddy & Co., Chartered Accountants, Hyderabad, the present
 statutory auditors of the Company hold office in accordance with the
 provisions of the Companies Act, 1956, up to the conclusion of the
 ensuing annual general meeting and are eligible for re-appointment. A
 written consent letter and certificate under section 139(1) of the
 Companies Act, 2013 have been received from them. The Board of
 directors recommends their re-appointment for a period three years.
 
 11) LISTING AT STOCK EXCHANGES:
 
 The Equity Shares of the company are listed on Bombay Stock Exchange
 Limited, Phiroze Jeejeebhoy Towers, Dalai Street, Mumbai - 400 001.
 Listing fees to the Bombay Stock Exchange Limited has been paid
 up-to-date.
 
 12) ACKNOWLEDGEMENTS:
 
 Your directors wish to place on record their sincere gratitude to the
 Government of India, State Government, Bankers, Distributors, Dealers,
 Suppliers, Customers and employees and workers of the Company for their
 whole hearted co-operation extended to the Company during the year.
 
                                              //By Order of the Board//
                                  for Integrated Thermoplastics Limited
 
                              Sd/-                                 Sd/-
      SURESH KUMAR SHAHSTRY VEMURI          DR. V. CHANDRASEKHARA REDDY
               WHOLE TIME DIRECTOR                             DIRECTOR
 
 Place: Hyderabad.
 Date : 01.09.2014
સ્તોત્ર: રેલીગેર ટેકનોવા


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