Business News›Markets›Stocks›Stock Price Quotes›Pithampur Poly Products Share Price
› Pithampur Poly Products Directors Report
Pithampur Poly P Director Report
BSE:530683 | IND:Miscellaneous - Others | ISIN code:INE747D01012 | SECT:Miscellaneous
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 Pithampur Poly Products Ltd.
Director Report
Dear Members,
The Directors have pleasure in presenting their 18th Annual Report on
the business and operation of the Company and the accounts for the
Financial Year ended 31st March, 2015
1) EXTRACT OF ANNUAL RETURN
The Extract of Annual Return in form MGT-9 as per section 92 of the
Companies Act, 2013 and the relevant rules is annexed as Annexure-A.
2) DIVEDEND
Considering the Company''s Financial Performance, the Directors do not
recommended any dividend for this year.
3) NUMBER OF MEETINGS OF THE BOARD
S. no. Type of meeting Date of meeting
01 Board Meeting 28.05.2014
02 Board Meeting 30.07.2014
03 Board Meeting 28.08.2014
04 Board Meeting 15.10.2014
05 Board Meeting 13.01.2015
06 Board Meeting 05.03.2015
07 Board Meeting 27.03.2015
4) DIRECTORS'' RESPONSIBILITY STATEMENT :-
Pursuant to the requirements of section 134(5) of the Companies Act,
2013 with respect to Directors'' Responsibility Statement, it''s hereby
confirmed:
(i) That in the preparation of the accounts for the financial year ended
31s1 march 2015, the applicable accounting standards have been followed
along with proper explanation relating to material departures from the
same;
(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 and of the
profit of the Company for the year under review;
(iii) That the directors have been taken proper and sufficient care for
the .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 have prepared accounts for the financial year
ended 31st march 2015 on a going concern basis; and
(v) That the directors have devised proper system to ensure compliance
with the provisions of all applicable laws and that such systems were
adequate and operating effectively.
(vi) That proper internal financial controls are followed by the
Company and that such financial controls are adequate and are operating
effectively; and
5) STATUTORY AUDITORS
pursuant to the provisions of Section 139 and other applicable
provisions, if any, of the Companies Act,2013 (including any statutory
modification or re-enactment thereof for the time being in force) and
the Companies (Audit and Auditors Rules), 2014 made there under, as
amended from time to time and pursuant to the recommendations of the
Audit Committee of the Board of Directors, M/s Arif Jain & Associates,
Chartered Accountants who retires and being eligible, offers himself
for reappointment be and is hereby re-appointed as a statutory auditors
of the Company for the financial year 2015-16 and they shall hold
office up to the conclusion of the Annual General Meeting to be held
for the Financial Year 2015-16 and that the Board of Directors be and
is hereby authorized to fix the remuneration payable to them for the
financial year ending March 31, 2016, on the recommendation of the
audit committee in consultation with the Statutory Auditors of the
Company.
6) DEPOSITS
Your Company has not accepted any deposit within the meaning of
provisions of Section 73 of Companies Act, 2013 read with the Companies
(Acceptance of Deposits) Amendment Rules, 2015.
7) STATEMENT OF DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER
SECTION 149(6) :-
The company has three independent directors and all have given the
declarations declaring that they are qualified and does not hold any
disqualifications to act as independent directors. Their declarations
have been taken on record by the Board in its meeting held on 31.03.2015
8) EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION,
RESERVATION OR ADVERSE REMARK OR DISCLAIMER BY AUDITOR IN HIS REPORT
AND BY COMPANY SECRETARY IN PRACTICE IN HIS SECRETARIAL AUDIT REPORT :-
The Auditor''s Report is self explanatory and there are no
qualifications, reservation or adverse remarks made by the auditors.
Hence no comments are required. The Company Secretary in his audit
report raised queries regarding non publication of quarterly results
and book closure. Your directors placed on record the queries raised by
him and noted the same for future compliances. Further he raised a
query for non appointment of a woman director. In this respect the
Company has appointed a woman director on 05/06/2015.
9) PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
The particulars of loans, guarantees or investments under section 186
is furnished in Annexure-B and is attached to this report.
10) CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFERRED TO IN
SECTION 188(1)
The particulars of contract or arrangement made with related party
pursuant to section 188 is furnished in * Annexure-C and is attached to
this report.
11) PERFORMANCE OF THE COMPANY: -
(a) Turnover: in Rs. Lacs
Current Year Previous Year % Decrease
580.92 674.81 13.91
(b) Net profit: Rs. In Lacs
Current Previous
year year
Profit/(loss) for the year before (23.19) (1.84)
taxation and Extra-ordinary item
Provision for taxation
Extraordinary item of Expenditure 0.51 2.16
Net profit/(loss) (23.70) (4.00)
Balance of profit/(loss) (591.58) (587.58)
from previous year
Less: Adjustment for Additional
Depreciation as per Schedule 50.20 0.00
Surplus retained in Profit and
loss Account (665.49) (591.58)
12) MATERIAL CAHNGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION OF THE COMNPANY WHICH HAVE OCCRRED BETWEEN THE END OF THE
FNANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE
AND THE DATE OF THE REPORT
No material changes and commitments affecting the financial position of
the company occurred between the end of the financial year of the
company to which the financial statements relate on the date of this
report.
13) ANNUAL EVALUATION OF BOARD PERFORMANCE AND PERFORMANCE OF ITS
COMMITTEES AND INDIVIDUAL DIRECTORS
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out an annual evaluation
of its own performance, performance of its Directors individually as
well as the evaluation of the working of its Committees. The evaluation
of all the directors and the Board as a whole was conducted based on
the criteria and framework adopted by the Board. The evaluation process
has been explained in the Corporate Governance Report section which
forms part of this report.
14) THE CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Provisions of section 134(m) of the Companies Act, 2013 do not apply to
our company and hence required information is Nil. There was no foreign
exchange earnings and outgo during the year.
15) STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK
MANAGEMENT POLICY OF THECOMPANY
The company does not have risk management policy as the elements of the
risk threatening the company''s existence s very minimal.
16) DETALS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS
CORPORATE SOCAL RESPONSBLITYINITIATVES
The company has not developed and implemented the following corporate
responsibility initiatives during the year under review.
17) LISTING OF SHARES
Company''s shares are listed with BSE Limited. The company has paid
annual listing fee forfinancial year2015-16
18) INDUSTRIAL RELATIONS:
Company''s Industrial relations continued to be healthy, cordial and
harmonious during the period under review.
19) GENERAL DISCLOSURES:
(I) There are no significant and/or material orders passed by the
Regulators or Courts or Tribunals impacting the going concern status of
the Company.
(II) No material changes and commitments affecting the financial
position of the company have occurred between the end of the financial
year to which the financial statements relate and the date of this
directors report.
20) ENVIRONMENT AND SAFETY:
The Company is conscious of the importance of environmentally clean and
safe operations. The Company''s policy required conduct of operations in
such a manner, so as to ensure safety of all concerned, compliances
environmental regulations and preservation of natural resources.
21) SAD DEMISE OF MR. SHARAD DUBEY, INDEPENDENT DIRECTOR OF THE
COMPANY:
Your Board regrets to inform the sad demise of our beloved independent
directors Mr. Sharad Dubey. Your Directors pray God to rest the soul of
demised director in peace and give courage to his family to overcome
the sorrow.
22) ACKNOWLEDGMENT:
On behalf of the Directors of the Company, I would like to place on
record our deep appreciation to our Shareholders, Customers, Business
Partners, Vendors, both international and domestic, Bankers, Financial
Institutions and Academic Institutions. Your Directors also wish to
place on record their sincere thanks to the Government of India and the
various Ministries, the State Governments and the various Ministries,
the Central and State Electricity Regulatory authorities, communities
in the neighborhood of our operations, Municipal and local authorities
in areas where we are operational.
For and on behalf of the Board of Directors
Pithampur Poly Products Limited
RAJENDRA TEKRIWAL
Chairman and Managing Director
Place: Indore DIN 00011492
Date: 15/07/2015
The Directors have pleasure in presenting their 18th Annual Report on
the business and operation of the Company and the accounts for the
Financial Year ended 31st March, 2015
1) EXTRACT OF ANNUAL RETURN
The Extract of Annual Return in form MGT-9 as per section 92 of the
Companies Act, 2013 and the relevant rules is annexed as Annexure-A.
2) DIVEDEND
Considering the Company''s Financial Performance, the Directors do not
recommended any dividend for this year.
3) NUMBER OF MEETINGS OF THE BOARD
S. no. Type of meeting Date of meeting
01 Board Meeting 28.05.2014
02 Board Meeting 30.07.2014
03 Board Meeting 28.08.2014
04 Board Meeting 15.10.2014
05 Board Meeting 13.01.2015
06 Board Meeting 05.03.2015
07 Board Meeting 27.03.2015
4) DIRECTORS'' RESPONSIBILITY STATEMENT :-
Pursuant to the requirements of section 134(5) of the Companies Act,
2013 with respect to Directors'' Responsibility Statement, it''s hereby
confirmed:
(i) That in the preparation of the accounts for the financial year ended
31s1 march 2015, the applicable accounting standards have been followed
along with proper explanation relating to material departures from the
same;
(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 and of the
profit of the Company for the year under review;
(iii) That the directors have been taken proper and sufficient care for
the .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 have prepared accounts for the financial year
ended 31st march 2015 on a going concern basis; and
(v) That the directors have devised proper system to ensure compliance
with the provisions of all applicable laws and that such systems were
adequate and operating effectively.
(vi) That proper internal financial controls are followed by the
Company and that such financial controls are adequate and are operating
effectively; and
5) STATUTORY AUDITORS
pursuant to the provisions of Section 139 and other applicable
provisions, if any, of the Companies Act,2013 (including any statutory
modification or re-enactment thereof for the time being in force) and
the Companies (Audit and Auditors Rules), 2014 made there under, as
amended from time to time and pursuant to the recommendations of the
Audit Committee of the Board of Directors, M/s Arif Jain & Associates,
Chartered Accountants who retires and being eligible, offers himself
for reappointment be and is hereby re-appointed as a statutory auditors
of the Company for the financial year 2015-16 and they shall hold
office up to the conclusion of the Annual General Meeting to be held
for the Financial Year 2015-16 and that the Board of Directors be and
is hereby authorized to fix the remuneration payable to them for the
financial year ending March 31, 2016, on the recommendation of the
audit committee in consultation with the Statutory Auditors of the
Company.
6) DEPOSITS
Your Company has not accepted any deposit within the meaning of
provisions of Section 73 of Companies Act, 2013 read with the Companies
(Acceptance of Deposits) Amendment Rules, 2015.
7) STATEMENT OF DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER
SECTION 149(6) :-
The company has three independent directors and all have given the
declarations declaring that they are qualified and does not hold any
disqualifications to act as independent directors. Their declarations
have been taken on record by the Board in its meeting held on 31.03.2015
8) EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION,
RESERVATION OR ADVERSE REMARK OR DISCLAIMER BY AUDITOR IN HIS REPORT
AND BY COMPANY SECRETARY IN PRACTICE IN HIS SECRETARIAL AUDIT REPORT :-
The Auditor''s Report is self explanatory and there are no
qualifications, reservation or adverse remarks made by the auditors.
Hence no comments are required. The Company Secretary in his audit
report raised queries regarding non publication of quarterly results
and book closure. Your directors placed on record the queries raised by
him and noted the same for future compliances. Further he raised a
query for non appointment of a woman director. In this respect the
Company has appointed a woman director on 05/06/2015.
9) PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
The particulars of loans, guarantees or investments under section 186
is furnished in Annexure-B and is attached to this report.
10) CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFERRED TO IN
SECTION 188(1)
The particulars of contract or arrangement made with related party
pursuant to section 188 is furnished in * Annexure-C and is attached to
this report.
11) PERFORMANCE OF THE COMPANY: -
(a) Turnover: in Rs. Lacs
Current Year Previous Year % Decrease
580.92 674.81 13.91
(b) Net profit: Rs. In Lacs
Current Previous
year year
Profit/(loss) for the year before (23.19) (1.84)
taxation and Extra-ordinary item
Provision for taxation
Extraordinary item of Expenditure 0.51 2.16
Net profit/(loss) (23.70) (4.00)
Balance of profit/(loss) (591.58) (587.58)
from previous year
Less: Adjustment for Additional
Depreciation as per Schedule 50.20 0.00
Surplus retained in Profit and
loss Account (665.49) (591.58)
12) MATERIAL CAHNGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION OF THE COMNPANY WHICH HAVE OCCRRED BETWEEN THE END OF THE
FNANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE
AND THE DATE OF THE REPORT
No material changes and commitments affecting the financial position of
the company occurred between the end of the financial year of the
company to which the financial statements relate on the date of this
report.
13) ANNUAL EVALUATION OF BOARD PERFORMANCE AND PERFORMANCE OF ITS
COMMITTEES AND INDIVIDUAL DIRECTORS
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out an annual evaluation
of its own performance, performance of its Directors individually as
well as the evaluation of the working of its Committees. The evaluation
of all the directors and the Board as a whole was conducted based on
the criteria and framework adopted by the Board. The evaluation process
has been explained in the Corporate Governance Report section which
forms part of this report.
14) THE CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Provisions of section 134(m) of the Companies Act, 2013 do not apply to
our company and hence required information is Nil. There was no foreign
exchange earnings and outgo during the year.
15) STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK
MANAGEMENT POLICY OF THECOMPANY
The company does not have risk management policy as the elements of the
risk threatening the company''s existence s very minimal.
16) DETALS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS
CORPORATE SOCAL RESPONSBLITYINITIATVES
The company has not developed and implemented the following corporate
responsibility initiatives during the year under review.
17) LISTING OF SHARES
Company''s shares are listed with BSE Limited. The company has paid
annual listing fee forfinancial year2015-16
18) INDUSTRIAL RELATIONS:
Company''s Industrial relations continued to be healthy, cordial and
harmonious during the period under review.
19) GENERAL DISCLOSURES:
(I) There are no significant and/or material orders passed by the
Regulators or Courts or Tribunals impacting the going concern status of
the Company.
(II) No material changes and commitments affecting the financial
position of the company have occurred between the end of the financial
year to which the financial statements relate and the date of this
directors report.
20) ENVIRONMENT AND SAFETY:
The Company is conscious of the importance of environmentally clean and
safe operations. The Company''s policy required conduct of operations in
such a manner, so as to ensure safety of all concerned, compliances
environmental regulations and preservation of natural resources.
21) SAD DEMISE OF MR. SHARAD DUBEY, INDEPENDENT DIRECTOR OF THE
COMPANY:
Your Board regrets to inform the sad demise of our beloved independent
directors Mr. Sharad Dubey. Your Directors pray God to rest the soul of
demised director in peace and give courage to his family to overcome
the sorrow.
22) ACKNOWLEDGMENT:
On behalf of the Directors of the Company, I would like to place on
record our deep appreciation to our Shareholders, Customers, Business
Partners, Vendors, both international and domestic, Bankers, Financial
Institutions and Academic Institutions. Your Directors also wish to
place on record their sincere thanks to the Government of India and the
various Ministries, the State Governments and the various Ministries,
the Central and State Electricity Regulatory authorities, communities
in the neighborhood of our operations, Municipal and local authorities
in areas where we are operational.
For and on behalf of the Board of Directors
Pithampur Poly Products Limited
RAJENDRA TEKRIWAL
Chairman and Managing Director
Place: Indore DIN 00011492
Date: 15/07/2015
Quick Links
Pithampur Poly Products 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.