Gee Gee Granites Ltd.-இன் இயக்குநர் அறிக்கை

The directors have pleasure in presenting the Twenty Third Annual Report and the Audited Accounts for the financial year ended 31st March 2013.

FINANCIAL RESULTS: 2012-2013 2011-2012 (Rupees in lakhs)

Sales

Other income

Total income

Profit/(Loss) before Depreciation and tax (7.85) (3.04)

LESS: Depreciation

Net Profit / (Net Loss) (7.85) (3.04)

Tax expenses: Deferred tax 39.52

Profit/(Loss) aftertax 31.67 (3.04)

ADD: Surplus/(Deficit) brought forward from previousyear (501.15) (498.11)

Net Profit / (Loss) carried to Balance sheet (469.47) (501.15)

ACTIVITIES

The Board of Directors of your Company are pleased to inform you that they were successful in restoring the trading in the equity shares of your Company on Bombay Stock Exchange. The Exchange has revoked the suspension earlier imposed on the trading of the securities of your Company w.e.f. 14th September, 2012.

DIVIDEND

In view of the Loss, your directors do not recommend any dividend for the current year.

DEPOSITS

The Company has not invited or accepted any deposits from the public.

DIRECTORS:

During the year, Mr.V.V.Naaraayan retires by rotation and being eligible offers himself for reappointment.

AUDITORS:

M/s B.P. Jain & Co., Chartered Accountants, Chennai, retire at the forthcoming Annual General Meeting and being eligible offer themselves for reappointment.

PARTICULARS OF EMPLOYEES:

There is no employee during the year under review whose particulars are required to be given as per the provisions of Section 217 (2A) of the Companies Act, 1956.

DIRECTORS'' RESPONSIBILITY STATEMENT

Your Directors confirm:

i. that in the preparation of the annual accounts, the applicable accounting standards have been followed;

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 as at 31st March 2013 and of the profits of the Company for that year;

iii. that the Directors had 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 on a going concern basis.

CORPORATE GOVERNANCE

As per the listing agreement with the Stock Exchanges, a separate discussion on Corporate Governance is appended.

LISTING OF EQUITY SHARES

The Company''s equity shares are listed on the Chennai and Bombay Stock Exchanges.

STATUTORY DISCLOSURE

Information required under Section 217(1 )(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988.

1. Conservation of Energy, Technology absorption and Research and Development

The Company has no activity relating to conservation of energy, technology absorption and Research and Development during the year.

2. Foreign Exchange Earnings and Outgo

During the year, the Company had no earnings or outgo in foreign exchange.

ACKNOWLEDGEMENTS

Your directors wish to place on record their appreciation for the co-operation received from the State and Central Government organizations and also from the dedicated management team.

For and on behalf of the Board

Place : Chennai Gopichand Idandas

Date : 29.05.2013 Chairman

The directors have pleasure in presenting the Twentieth Annual Report and the audited accounts for the financial year ended 31st March 2010.

FINANCIAL RESULTS:

2009-2010 2008-2009 (Rupees in lakhs)

Sales -- --

Other income 4.62 17.52

Total income 4.62 17.52

Profit/(Loss) before Depreciation and tax 1.57 (0.65)

LESS: Depreciation 1.80 2.18

Net Profit / (Net Loss) (0.23) (2.83)

Profit /(Loss) after tax (0.23) (2.83)

ADD: Surplus/(Deficit) brought forward from previous year (495.05) (492.22)

Net Profit / (Loss) carried to Balance sheet (495.28) (495.05)

DIVIDEND

In view of the Loss your directors do not recommend any dividend for the current year.

DEPOSITS

The Company has not invited or accepted any deposits from the public.

DIRECTORS

During the year Mr.V.V.Naaraayan, Independent Director retires by rotation and being eligible offers himself for reappointment.

AUDITORS

M/s B.P. Jain & Co., Chartered Accountants, Chennai, retire at the forthcoming Annual General Meeting and being eligible offer themselves for reappointment.

PARTICULARS OF EMPLOYEES:

There is no employee during the year under review whose particulars are required to be given as per the provisions of Section 217 (2A) of the Companies Act, 1956.

DIRECTORS RESPONSIBILITY STATEMENT

Your Directors Confirm

i. that in the preparation of the annual accounts, the applicable accounting standards have been followed;

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 as at 31st March 2010 and of the Loss of the company for that year;

iii. that the Directors had 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 on a going concern basis.

CORPORATE GOVERNANCE

As per the listing agreement with the Stock Exchanges, a separate discussion on Corporate Governance is appended.

LISTING OF EQUITY SHARES

The companys equity shares are listed on the Chennai and Mumbai Stock Exchanges.

ACKNOWLEDGEMENT

Your directors wish to place on record their appreciation for the co-operation received from the State and Central Government organizations and also from the dedicated management team.

For and on behalf of the Board

Place : Chennai GOPICHAND IDANDAS

Date:29.05.2010 Chairman