| Dear Shareholders,
The Directors present the Annual Report together with the Audited
Balance Sheet as at 31st March 2014 and the Statement of Profit and
Loss of Eureka Industries Limited for the year ended on 31st March
2014.
COMPANY'S PERFORMANCE:
Your Company's performance during the year 2013-14 (12 months) and for
the period April'12 to March'13 (12 months) is summarized below:
FINANCIAL RESULTS:
The highlights of Financial results for the year ended on 31st March
2014 are:
Current Year Previous Year
(Rs. in Lacs) (Rs. in Lacs)
Sales and Other Income 10.00 11.59
Profit/(loss) Before Tax 5.04 3.36
Less : Provision of Taxation 0.89 0.64
Net Profit/(Loss) for the year 4.18 2.72
Balance b/f. from previous year (750.13) (752.85)
Balance Carried to Balance Sheet (745.96) (750.13)
DIVIDEND:
Your Directors are unable to recommend any Dividend on the Equity
Shares in view of the financial position of the Company.
CORPORATE GOVERNANCE REPORT:
Your Company is committed to good Corporate Governance practices. Your
Directors endeavor to adhere to the standards set out by the Securities
and Exchange Board of India's (SEBI) Corporate Governance practices and
accordingly has implemented all the major stipulations prescribed.
A separate report on Corporate Governance and a Management Discussion
and Analysis Report are being published as a part of the Annual Report
of the Company.
The Auditors of the Company have certified that conditions of Corporate
Governance as stipulated under Clause 49 of the Listing Agreement are
complied by the Company and their Certificate is annexed to the Report
on Corporate Governance.
CASH FLOW STATEMENT:
Cash flow statement in pursuant to Clause 32 of the listing agreement
is attached and forms part of the report.
PUBLIC DEPOSITS:
The Company has not accepted any deposit within the meaning of Section
58A of the Companies Act, 1956 during the year under review.
MANAGEMENT DISCUSSION & ANALYSIS REPORT:
The Management Discussion and Analysis report is annexed here to as
part of the Directors' Report.
DIRECTORS:
Mr. Ketan A. Gandhi (DIN 02553466), Director of the Company retires by
rotation at the ensuing Annual General Meeting and being eligible
offers himself for reappointment. The Board recommends his
reappointment.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that.
(1) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
(2) Appropriate accounting policies have been selected and applied them
consistently and judgments and estimates made that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of the financial year and of the profit or loss of
the Company for that period.
(3) 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 safeguard the assets of the Company and for
preventing and detecting fraud and other irregularities.
(4) The accounts have been prepared on going concern basis.
LISTING OF EQUITY SHARES:
The Company's securities are listed with Bombay Stock Exchange Ltd,
Mumbai.
PARTICULARS OF EMPLOYEES:
There is no employee drawing remuneration falling within the limits
specified under Section 217(2A) of the Companies Act, 1956 hence no
statement is enclosed.
AUDITORS:
M/s. Kothari Sangawat & Associates (FRN 132985 W) Chartered
Accountants, Auditors of the company hold office until the conclusion
of the ensuing Annual General Meeting and are eligible for
re-appointment. The Board recommends their appointment as the Statutory
Auditors of the company.
The company has received a certificate from the auditors to the effect
their, re-appointment, if made, would be within the prescribed limit
u/s. 224 (1B) of the Companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
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, Your Company has no activities relating to
Conservation of Energy, Technology Absorption etc.
Foreign Exchange Earning And Outgo: NIL
ACKNOWLEDGEMENT:
Your Directors take this opportunity to express their gratitude and
thank the Customers, Dealers and Suppliers, Investors, Members, Banks,
Financial Institutions, Central and State Governments for their
continued support and co-operation. Your Directors also thank the
employees of the Company across all levels for the sincere and hard
work put in by them during the year under review.
For Eureka Industries Limited
Sd/-
Place : Ahmedabad Ketan A. Gandhi
Date : May 30, 2014. Director |