Business News›Markets›Stocks›Stock Price Quotes›Neogem India Share Price
› Neogem India Directors Report
Neogem India Ltd Director Report
BSE:526195 | IND:Diamond Cutting/Precious Metals/Jewellery | ISIN code:INE552E01014 | SECT:Gems and Jewellery
PREMARKET
BSE
Change:
Volume:
Open:
Prv. Close:
Bid:
()
Offer:
()
NSE
Change:
Volume:
Open:
Prv. Close:
Bid:
()
Offer:
()
You can view full text of the Director's Report for Neogem India Ltd.
Director Report
Dear Members,
The Directors present the Twenty-third Annual Report of the Company
together with the Audited Statement of Accounts for the year ended 31st
March 2014.
1. FINANCIAL RESULTS:
The financial performance of the Company, for the year ended March 31,
2014 is summarized below:
(Rs. In Lacs)
Particulars For the year ended For the year ended
31st March 2014 31st March 2013
Revenue from Operations 8,373.50 8237.20
Other Income 2.53 3.99
Profit before Depreciation and Tax 30.82 161.27
(Less): Depreciation (11.19) (11.66)
Profit for the year before tax 19.63 149.60
(Less): Exceptional Items (1.52) -
Add/(Less): Provision for Taxation (2.96) (47.18)
Profit after Tax 15.15 102.42
2. REVIEW OF OPERATIONS:
The Company registered turnover of Rs. 837,349,575/- in the current
year as compared to Rs. 823,720,082/- during the previous year.
However, due to increase in expenses, the Company earned Profit before
tax of Rs. 1,962,869/- as compared to Rs. 14,960,843/- in the previous
year. Your Directors expect better performance in future. Business
review details are included in Management Discussion and Analysis
Report.
3. DIVIDEND:
In view to conserve resources, your Directors do not recommend any
dividend for the financial year ended 2013-14.
4. DIRECTORS:
Pursuant to Sections 149, 152 and any other applicable provisions of
the Companies Act, 2013, Mr. Jayant Nagarkar (DIN 00131405) and Mr.
Vikas Patel (DIN-00131285), are proposed to be appointed as Independent
Directors to hold office for five consecutive years.
Pursuant to Companies Act, 2013, office of Directorship of Mr. Ronak
Doshi (DIN: 00102959) is liable to retire by rotation.
Brief resume of the Director proposed to be appointed, nature of their
expertise in specific functional areas, names of the Companies in which
they hold directorships and membership/Chairmanship of Committees of
the Board, their shareholding in the Company and inter-se relationship
with Directors, as stipulated under section 149(6) of the Companies
Act, 2013 and Clause 49 of Listing Agreement entered into with the
Stock Exchanges, are set out in the Notice forming part of the Annual
Report.
The Board commends the resolution to the members for the respective
appointments/re-appointment.
5. CORPORATE GOVERNANCE:
Your Company is committed to maintain the highest standard of Corporate
Governance and adhere to the requirements set out by SEBI. The Report
on Corporate Governance as stipulated under Clause 49 of the Listing
Agreement, including the shareholders'' information and auditor''s
certificate on its compliance, forms a part of this Annual Report.
6. AUDITORS REPORT:
With respect to remark of Auditors with reference to leave encashment
which is provided on the basis of actual calculation rather than
actuarial valuation as per AS 15, your Directors have to state that
since the Company provides leave encash- ment benefits to employees on
actual basis, there is no outstanding amount and hence no provision has
been made for the same.
7. AUDITORS:
The present Statutory Auditors of the Company, M/s. Ashok Bairagra &
Associates, Chartered Accountants, retire at the conclusion of the
ensuing Annual General Meeting. The Company has received a letter as
required under Section 141 of the Companies Act, 2013 (erstwhile
section 224(1B) of the Companies Act, 1956) from M/s. Ashok Bairagra &
Associates (having Firm Registration No. 118677W), Chartered
Accountants, confirming their eligibility and willingness to act as
Statu- tory Auditors, if re-appointed. M/s. Ashok Bairagra &
Associates, Chartered Accountants are hereby appointed as Statu- tory
Auditors of the Company to hold office for the period of 3 (three)
years from the conclusion of this Annual General Meeting until the
conclusion of the fourth Annual General Meeting to examine and audit
the accounts of the Company for the financial year 2014-15, 2015-16 and
2016-17, subject to ratification by the members of the Company at both
the subsequent AGM.
8. INSURANCE:
All the assets of the Company, wherever necessary and to the extent
required, have been insured.
9. DIRECTORS'' RESPONSIBILITY STATEMENT:
As required under Section 217(2AA) of the Companies Act, 1956, your
Directors confirm that:
a) The Company has followed the applicable accounting standards except
AS 15 in the preparation of the Annual Accounts.
b) The Directors had selected the 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 and of the profit of the
Company for the year under review.
c) The Directors have taken proper and sufficient care for 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.
d) The Directors have prepared the Annual Accounts on a going concern
basis.
10. MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report for the financial year
under review as stipulated under Clause 49 of the Listing Agreement
entered with the Stock Exchange is enclosed as a part of this Annual
Report.
11. PERSONNEL:
As on date, none of the employees of the Company fall within the
purview of the provisions of Section 217(2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules, 1975 and
Companies (Particulars of Em- ployees) Amendment Rules, 2011.
12. FIXED DEPOSITS:
The Company has not accepted any deposit within the purview of section
58A of the Companies Act, 1956 during the year under review.
13. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & INNOVATIONS AND
FOREGIN EXCHANGE:
The information as required under section 217(1)(e) of the Companies
Act, 1956, read with the Companies (Disclosure of Particulars in Report
of the Board of Directors) Rules, 1988 with respect to conservation of
energy, technology absorption and foreign exchange earnings is given
below:
A. Conservation of Energy:
As the Company is not covered in the list of industries required to
furnish information in Form A relating to Conservation of Energy, the
same is not required to be given. Though our operations are not energy-
intensive, efforts have been made to conserve energy by utilizing
energy- efficient equipments.
Your Company firmly believes that our planet is in dire need of energy
resources and conservation is the best policy.
B. Technology Absorption, Adaptation and Innovation:
The Company did not have any technical collaboration agreement in force
during the year under review and therefore disclosure under Form B is
not applicable.
14. Preferential Allotment of Fully Convertible Equity Share Warrants:
Based on the approval of the members taken in the 22nd Annual General
Meeting, the Company has made preferential al- lotment of Fully
Convertible Equity Share Warrants to the following personnel as
mentioned below, as per the provision of section 81(1A) of the
Companies Act, 1956 and as per the Listing Agreement entered in to by
the Company with the Stock Exchanges where the shares of the Company
are listed and in accordance with Regulations prescribed by the
Securities and Exchange Board of India ("SEBI"). The Company had
obtained approval of members for allotment of 15,60,000 equity shares
but based on the share application money received, the Company has made
an preferential allotment of 10,60,000 Fully Convertible Equity Share
Warrants carrying an entitlement to subscribe to an equivalent number
of Equity Shares of Rs. 10/- each at an exercise price of Rs. 18/- (Rs.
10/- each at premium of Rs. 8/- each) to the promoter group whose names
are mentioned below:
a. Rekha Doshi - 239600
b. Ronak Doshi - 310200
c. Gaurav Doshi - 310200
d. Reshma Doshi - 100000
e. Vaitasi Doshi - 100000
Further we have to inform the shareholders that in the 22nd Annual
Report the relevant date for the preferential issue was mentioned as
31st August 2013, however since it was Saturday, the relevant date was
changed to Friday, 30th August 2013. Also pursuant to the amendment in
SEBI (ICDR) Regulations, 2009 dated 26th August 2013, the lock-in shall
be from the date of trading approval instead of date of allotment as
mentioned in the 22nd Annual Report.
15. ACKNOWLEDGEMENTS:
The Board of Directors expresses their deep gratitude for the
co-operation and support extended to the Company by its customers,
suppliers, Bankers and various Government agencies. Your Directors also
place on record the commitment and involvement of the employees at all
levels and looks forward to their continuous co-operation.
By Order of the Board of Directors
Gaurav Doshi
Chairman & Managing Director
DIN-00166703
Date: 2nd September 2014 G/32, Gems and Jewellery Complex III,
Place: Mumbai Seepz (SEZ), Andheri (East),
Mumbai - 400 096.
Registered Office:
G-32, Gems & Jewellery Complex III,
Seepz (SEZ), Andheri (East), Mumbai-400 096
CIN: L36911MH1991PLC063357
The Directors present the Twenty-third Annual Report of the Company
together with the Audited Statement of Accounts for the year ended 31st
March 2014.
1. FINANCIAL RESULTS:
The financial performance of the Company, for the year ended March 31,
2014 is summarized below:
(Rs. In Lacs)
Particulars For the year ended For the year ended
31st March 2014 31st March 2013
Revenue from Operations 8,373.50 8237.20
Other Income 2.53 3.99
Profit before Depreciation and Tax 30.82 161.27
(Less): Depreciation (11.19) (11.66)
Profit for the year before tax 19.63 149.60
(Less): Exceptional Items (1.52) -
Add/(Less): Provision for Taxation (2.96) (47.18)
Profit after Tax 15.15 102.42
2. REVIEW OF OPERATIONS:
The Company registered turnover of Rs. 837,349,575/- in the current
year as compared to Rs. 823,720,082/- during the previous year.
However, due to increase in expenses, the Company earned Profit before
tax of Rs. 1,962,869/- as compared to Rs. 14,960,843/- in the previous
year. Your Directors expect better performance in future. Business
review details are included in Management Discussion and Analysis
Report.
3. DIVIDEND:
In view to conserve resources, your Directors do not recommend any
dividend for the financial year ended 2013-14.
4. DIRECTORS:
Pursuant to Sections 149, 152 and any other applicable provisions of
the Companies Act, 2013, Mr. Jayant Nagarkar (DIN 00131405) and Mr.
Vikas Patel (DIN-00131285), are proposed to be appointed as Independent
Directors to hold office for five consecutive years.
Pursuant to Companies Act, 2013, office of Directorship of Mr. Ronak
Doshi (DIN: 00102959) is liable to retire by rotation.
Brief resume of the Director proposed to be appointed, nature of their
expertise in specific functional areas, names of the Companies in which
they hold directorships and membership/Chairmanship of Committees of
the Board, their shareholding in the Company and inter-se relationship
with Directors, as stipulated under section 149(6) of the Companies
Act, 2013 and Clause 49 of Listing Agreement entered into with the
Stock Exchanges, are set out in the Notice forming part of the Annual
Report.
The Board commends the resolution to the members for the respective
appointments/re-appointment.
5. CORPORATE GOVERNANCE:
Your Company is committed to maintain the highest standard of Corporate
Governance and adhere to the requirements set out by SEBI. The Report
on Corporate Governance as stipulated under Clause 49 of the Listing
Agreement, including the shareholders'' information and auditor''s
certificate on its compliance, forms a part of this Annual Report.
6. AUDITORS REPORT:
With respect to remark of Auditors with reference to leave encashment
which is provided on the basis of actual calculation rather than
actuarial valuation as per AS 15, your Directors have to state that
since the Company provides leave encash- ment benefits to employees on
actual basis, there is no outstanding amount and hence no provision has
been made for the same.
7. AUDITORS:
The present Statutory Auditors of the Company, M/s. Ashok Bairagra &
Associates, Chartered Accountants, retire at the conclusion of the
ensuing Annual General Meeting. The Company has received a letter as
required under Section 141 of the Companies Act, 2013 (erstwhile
section 224(1B) of the Companies Act, 1956) from M/s. Ashok Bairagra &
Associates (having Firm Registration No. 118677W), Chartered
Accountants, confirming their eligibility and willingness to act as
Statu- tory Auditors, if re-appointed. M/s. Ashok Bairagra &
Associates, Chartered Accountants are hereby appointed as Statu- tory
Auditors of the Company to hold office for the period of 3 (three)
years from the conclusion of this Annual General Meeting until the
conclusion of the fourth Annual General Meeting to examine and audit
the accounts of the Company for the financial year 2014-15, 2015-16 and
2016-17, subject to ratification by the members of the Company at both
the subsequent AGM.
8. INSURANCE:
All the assets of the Company, wherever necessary and to the extent
required, have been insured.
9. DIRECTORS'' RESPONSIBILITY STATEMENT:
As required under Section 217(2AA) of the Companies Act, 1956, your
Directors confirm that:
a) The Company has followed the applicable accounting standards except
AS 15 in the preparation of the Annual Accounts.
b) The Directors had selected the 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 and of the profit of the
Company for the year under review.
c) The Directors have taken proper and sufficient care for 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.
d) The Directors have prepared the Annual Accounts on a going concern
basis.
10. MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report for the financial year
under review as stipulated under Clause 49 of the Listing Agreement
entered with the Stock Exchange is enclosed as a part of this Annual
Report.
11. PERSONNEL:
As on date, none of the employees of the Company fall within the
purview of the provisions of Section 217(2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules, 1975 and
Companies (Particulars of Em- ployees) Amendment Rules, 2011.
12. FIXED DEPOSITS:
The Company has not accepted any deposit within the purview of section
58A of the Companies Act, 1956 during the year under review.
13. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & INNOVATIONS AND
FOREGIN EXCHANGE:
The information as required under section 217(1)(e) of the Companies
Act, 1956, read with the Companies (Disclosure of Particulars in Report
of the Board of Directors) Rules, 1988 with respect to conservation of
energy, technology absorption and foreign exchange earnings is given
below:
A. Conservation of Energy:
As the Company is not covered in the list of industries required to
furnish information in Form A relating to Conservation of Energy, the
same is not required to be given. Though our operations are not energy-
intensive, efforts have been made to conserve energy by utilizing
energy- efficient equipments.
Your Company firmly believes that our planet is in dire need of energy
resources and conservation is the best policy.
B. Technology Absorption, Adaptation and Innovation:
The Company did not have any technical collaboration agreement in force
during the year under review and therefore disclosure under Form B is
not applicable.
14. Preferential Allotment of Fully Convertible Equity Share Warrants:
Based on the approval of the members taken in the 22nd Annual General
Meeting, the Company has made preferential al- lotment of Fully
Convertible Equity Share Warrants to the following personnel as
mentioned below, as per the provision of section 81(1A) of the
Companies Act, 1956 and as per the Listing Agreement entered in to by
the Company with the Stock Exchanges where the shares of the Company
are listed and in accordance with Regulations prescribed by the
Securities and Exchange Board of India ("SEBI"). The Company had
obtained approval of members for allotment of 15,60,000 equity shares
but based on the share application money received, the Company has made
an preferential allotment of 10,60,000 Fully Convertible Equity Share
Warrants carrying an entitlement to subscribe to an equivalent number
of Equity Shares of Rs. 10/- each at an exercise price of Rs. 18/- (Rs.
10/- each at premium of Rs. 8/- each) to the promoter group whose names
are mentioned below:
a. Rekha Doshi - 239600
b. Ronak Doshi - 310200
c. Gaurav Doshi - 310200
d. Reshma Doshi - 100000
e. Vaitasi Doshi - 100000
Further we have to inform the shareholders that in the 22nd Annual
Report the relevant date for the preferential issue was mentioned as
31st August 2013, however since it was Saturday, the relevant date was
changed to Friday, 30th August 2013. Also pursuant to the amendment in
SEBI (ICDR) Regulations, 2009 dated 26th August 2013, the lock-in shall
be from the date of trading approval instead of date of allotment as
mentioned in the 22nd Annual Report.
15. ACKNOWLEDGEMENTS:
The Board of Directors expresses their deep gratitude for the
co-operation and support extended to the Company by its customers,
suppliers, Bankers and various Government agencies. Your Directors also
place on record the commitment and involvement of the employees at all
levels and looks forward to their continuous co-operation.
By Order of the Board of Directors
Gaurav Doshi
Chairman & Managing Director
DIN-00166703
Date: 2nd September 2014 G/32, Gems and Jewellery Complex III,
Place: Mumbai Seepz (SEZ), Andheri (East),
Mumbai - 400 096.
Registered Office:
G-32, Gems & Jewellery Complex III,
Seepz (SEZ), Andheri (East), Mumbai-400 096
CIN: L36911MH1991PLC063357
Nifty 50 Stocks
- Titan Company Share Price
- Divi's Laboratories Share Price
- LTIMindtree Share Price
- ITC Share Price
- Bharat Petroleum Corporation Share Price
- Wipro Share Price
- Hero MotoCorp Share Price
- Hindalco Industries Share Price
- Apollo Hospitals Enterprise Share Price
- State Bank of India Share Price
- Tata Steel Share Price
- Sun Pharmaceutical Industries Share Price
- Shriram Finance Share Price
- Asian Paints Share Price
- UltraTech Cement Share Price
- NTPC Share Price
- JSW Steel Share Price
- Eicher Motors Share Price
- Hindustan Unilever Share Price
- IndusInd Bank Share Price
- HDFC Bank Share Price
- SBI Life Insurance Company Share Price
- Axis Bank Share Price
- Power Grid Corporation of India Share Price
- Dr. Reddy's Laboratories Share Price
- Adani Enterprises Share Price
- Tech Mahindra Share Price
- Reliance Industries Share Price
- Oil And Natural Gas Corporation Share Price
- Tata Consumer Products Share Price
- ICICI Bank Share Price
- Cipla Share Price
- Adani Ports & Special Economic Zone Share Price
- Grasim Industries Share Price
- Infosys Share Price
- Coal India Share Price
- Bajaj Auto Share Price
- Tata Consultancy Services Share Price
- Maruti Suzuki India Share Price
- Mahindra & Mahindra Share Price
- Kotak Mahindra Bank Share Price
- Tata Motors Share Price
- Bharti Airtel Share Price
- HCL Technologies Share Price
- Bajaj Finserv Share Price
- HDFC Life Insurance Company Share Price
- Larsen & Toubro Share Price
- Bajaj Finance Share Price
- Britannia Industries Share Price
- Nestle India Share Price
Top Gainer Stocks
- Gujarat Fluorochemicals Share Price
- JM Financial Share Price
- Caplin Point Laboratories Share Price
- KEC International Share Price
- Craftsman Automation Share Price
- Cholamandalam Financial Holdings Share Price
- Laurus Labs Share Price
- Sunteck Realty Share Price
- Zomato Share Price
- Concord Biotech Share Price
Top Loser Stocks
- CCL Products India Share Price
- Prestige Estates Projects Share Price
- PCBL Share Price
- Oil India Share Price
- Raymond Share Price
- Amara Raja Energy & Mobility Share Price
- Garden Reach Shipbuilders & Engineers Share Price
- Mazagon Dock Shipbuilders Share Price
- Chambal Fertilisers & Chemicals Share Price
- Torrent Power Share Price
Most Searched Stocks
- Indian Railway Finance Corporation Share Price
- One97 Communications Share Price
- YES Bank Share Price
- ITC Share Price
- HDFC Bank Share Price
- Tata Motors Share Price
- Zomato Share Price
- Adani Enterprises Share Price
- Infosys Share Price
- Reliance Industries Share Price
- Adani Power Share Price
- Vedanta Share Price
- Indian Renewable Energy Development Agency Share Price
- NHPC Share Price
- State Bank of India Share Price
- Rail Vikas Nigam Share Price
- Life Insurance Corporation of India Share Price
- Tata Steel Share Price
- Tata Consultancy Services Share Price
- Tata Power Company Share Price
- Wipro Share Price
- Adani Green Energy Share Price
- Indian Railway Catering & Tourism Corporation Share Price
- Suzlon Energy Share Price
- Punjab National Bank Share Price
- Hindustan Aeronautics Share Price
- Jio Financial Services Share Price
- NBCC (India) Share Price
- Bharat Heavy Electricals Share Price
- Polycab India Share Price
- SJVN Share Price
- IDFC First Bank Share Price
- ICICI Bank Share Price
- Tata Technologies Share Price
- Central Depository Services (India) Share Price
- Ircon International Share Price
- Jaiprakash Power Ventures Share Price
- MRF Share Price
- Power Finance Corporation Share Price
- Delta Corp Share Price
- Steel Authority of India (SAIL) Share Price
- Indian Oil Corporation Share Price
- Affle (India) Share Price
- Bajaj Finance Share Price
- Asian Paints Share Price
- Avenue Supermarts Share Price
- Indian Energy Exchange Share Price
- REC Share Price
- HDFC Asset Management Company Share Price
- Vodafone Idea Share Price
- Housing and Urban Development Corporation Share Price
- Reliance Power Share Price
- Adani Total Gas Share Price
- Bank of Baroda Share Price
- Birlasoft Share Price
Quick Links
Neogem India Ltd. Quick Links
Stock Summary
Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
Date Sources:Live BSE and NSE Quotes Service: TickerPlant | Corporate Data, F&O Data & Historical price volume data: Dion Global Solutions Ltd.
BSE Quotes and Sensex are real-time and licensed from the Bombay Stock Exchange. NSE Quotes and Nifty are also real time and licenced from National Stock Exchange. All times stamps are reflecting IST (Indian Standard Time).
By using this site, you agree to the Terms of Service and Privacy Policy.