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મિનિ ડાયમંડ (ઇંડિયા) ડિરેક્ટર્સ રિપોર્ટ, મિનિ ડાયમંડ (ઇંડિયા) ડિરેક્ટર્સ દ્વારા રિપોર્ટ

મિનિ ડાયમંડ (ઇંડિયા)

બીએસઈ: 523373  |  ઍનઍસઈ : N.A  |  ISIN: INE281E01010  |  Diamond Cutting & Jewellery & Precious Metals

શોધો મિનિ ડાયમંડ (ઇંડિયા) કનેક્શન � Mar 12
ડિરેક્ટર્સ રિપોર્ટ વર્ષાન્ત : Mar '13
The Members of MINI DIAMONDS (INDIA) LIMITED
 
 The Directors have great pleasure in presenting the 26th Annual Report
 together with the Audited Statement of Accounts for the financial year
 ended 31 st March, 2013.
 
 FINANCIAL RESULTS:
 
 PARTICULARS                                2012-2013         2011-2012
 
 Total Income from Sales              43,45,59,559.00   29,44,87,350.00
 
 Less: Cost of Goods Sold            (41,81,25,193.00) (28,13,22,414.00)
 
 Other Income                                4,435.00         38,044.00
 
 Total Income                          1,64,38,801.00    1,32,02,980.00
 
 Less: Operating Expenditure            (83,17,332.00)    (65,86,102.00)
 
 Less: Financial Expenses               (11,50,330.00)     (7,37,427.00)
 
 Profit before Depreciation, 
 Interest and Tax                        69,71,139.00      58,79,451.00
 
 Less: Depreciation                      (9,35,587.00)    (10,97,964.00)
 
 Less: Interest                         (32,23,126.00)    (23,00,593.00)
 
 Profit before Taxes                     28,12,426.00      24,80,894.00
 
 Less: Income Tax / Fringe Benefit 
 Tax written off                                    -        (70,080.00)
 
 Less: Interest on Income Tax
 
 Less: Provision for Taxation-
 Current/earlier years (including FBT)  (10,26,977.00)     (8,15,540.00)
 
 Net Profit for the year                 17,85,449.00      15,95,274.00
 
 Add: Balance brought forward from
 the Previous year                       69,60,535.00      53,65,261.00
 
 Balance carried to Balance Sheet        87,45,984.00      69,60,535.00
 
 DIVIDEND:
 
 Your Directors have not recommended any dividend for this financial
 year.
 
 DEMATERIALISATION OF SHARES:
 
 Dematerialisation is the process of converting the physical form of
 shares into electronic form. Dematerialisation helps to overcome the
 problems of delay in transfer of certificates, forgery of certificates
 etc. as well as reduces the transaction time as compared to the
 physical segment. Due to the various benefits of dematerialization of
 shares to the investors and the Company as well, your Directors request
 and recommend you to convert your physical shares in dematerialized
 form.
 
 CORPORATE GOVERNANCE:
 
 Report on Corporate Governance is furnished as a part of the
 Directors'' Report and forms part of this report. Certificate from
 Practicing Company Secretaries regarding compliance is annexed hereto
 and forms part of this report.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 To the best of their knowledge and belief and according to the
 information and explanation obtained by them, your Directors make the
 following statement in terms of Section 217(2AA) of the Companies Act,
 1956:
 
 (i) that in the preparation of the Annual Accounts for the year ended
 March 31, 2013; the applicable accounting standards have been followed
 along with proper explanation relating to material departures, if any.
 
 (ii) 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 of the financial year ended March
 31, 2013 and of the profit of the Company for that year.
 
 (iii) that the Directors have taken proper and sufficient care 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) that the Directors have prepared the Annual Accounts for the year
 ended March 31, 2013, on a going concern basis. 
 
 DIRECTORS:
 
 In accordance with the provisions of the Companies Act, 1956 and
 Articles of Association of the Company, Mr. Sameep Bharat Shah,
 Director of the Company retire by rotation at the ensuing Annual
 General Meeting and being eligible offer themselves for re-appointment.
 
 STATUTORY AUDITORS:
 
 Your Directors request you to appoint Auditors for the current year and
 fix their remuneration. The Auditors of the Company, M/ s. V.A. Parikh
 & Associates, Chartered Accountants retire at the ensuing Annual
 General Meeting of the Company and have given their consent for re -
 appointment. The Company has also received a certificate from them
 under Section 224 (1B) of the Companies Act, 1956.
 
 CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION:
 
 The provisions of Companies (Disclosure of Particulars in the Report of
 Board of Directors) Rules, 1988 are not applicable. 
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO:
 
 The total exports for the year 2012 - 2013 amounts to Rs.
 26,01,34,461/-. Efforts are being made to develop new products keeping
 in view the international market which is sensitive to changing
 fashions.
 
 PARTICULARS OF EMPLOYEES:
 
 There are no such employees pursuant to Section 217 (2A) of the
 Companies Act, 1956 read with the Companies (Particulars of the
 Employees) Rules 1975 as amended by the Companies Amendment Act, 1988.
 Hence, no particulars of such employees are required to be appended to
 this report.
 
 EXPLANATIONS FOR AUDITORS QUALIFICATIONS IN AUDIT REPORT:
 
 With regards to the qualification as stated in the Auditor''s Report
 the Board of Directors of the Company accepts suggestion of the
 Auditors and is of the opinion that this is minor non compliance of the
 mandatory accounting standard and not a major deviation affecting the
 financial statements. The Board assures that it will be more compliant
 with regards to the Auditor''s observation in future.
 
 Place : Mumbai                 For and on behalf of the Board Directors
 
 Date : 21 st September, 2013                                       Sd/-
 
                                                         Upendra N. Shah
 
 Registered Office :                        Chairman & Managing Director
 
 7-A, Nusser House, Ground Floor,
 
 Opp. Panchratna Building,
 
 Opera House, Mumbai- 400 004
સ્તોત્ર: રેલીગેર ટેકનોવા


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