Naval Technoplast Industries Ltd.-இன் இயக்குநர் அறிக்கை

Mar 31, 2010

The Directors have pleasure in placing before you the Elighteenth Annual Report and Audited Accounts for the financial year ended on 31st March, 2010

FINANCIAL RESULTS:

The summarised financial results of the Company have been given below :

Rs. in Lacs

Particulars Current Year Previous Year

(2009-2010) (2008-2009)

Sales 17.76.18 20,34.95

Operating Profit 2,33.36 2,73.63

Less : Financial Charges 1,11.58 1,32.31

Profit before Depreciation

and Tax 1,21.78 1,41.32

Less : Depreciation 86.57 80.85

Profit before Tax 35.21 60.47

Less : Provision for Taxation 5.59 8.63

Less : Deferred Tax Liability 10.98 13.80

Add : Prior period Taxation 0.00 0.00

Profit after Tax 18.64 38.04

Add : Profit Brought forward 1,11.75 97.61

Profit available for appropriation 1,30.39 1,35.65

Appropriation of Profit:

Transfer to Proposed Divided 5.40 20.43

Proposed Dividend Corporate Tax 0.92 3.47

Balance carried to Balance Sheet 1,24.07 1,11.75

1.30.39 1,35.65

PERFORMANCE OF THE COMPANY & FUTURE PROSPECTS :

Looking to the market conditions, the overall performance of the Company during the year was satisfactory. Company is getting Positive response for its new products "Card Can"& Turnover during the first 5 months of 2010-11 have increased by 51%

DIVIDEND :

Your directors recommend dividend @ 10 Paisa per equity share for the year ended 31st March 2010 to be paid to the holder of equity shares.(Previous Year @ 50 Paise per equity share)

DEPOSITS :

The Company has not accepted any deposits with in the meaning of Section 58A of the Companies Act, 1956.

DIRECTORS :

Shri Mahavir Agrawal and Shri Pavankishor Tibrewala, Directors of the Company are retiring by rotation and being eligible, offer themselves for re-appointment.

CORPORATE GOVERNANCE REPORT:

Your Company attaches considerable significant to good corporate Governernce as an important step towards building investors confidence, improve investors protection and maximize long term shareholder value person to the Clause 49 of the listing agreement entered with the Stock Exchanges, a Corporate Governance report and Auditors Certificates regarding the compliance of conditions of Corporate Governance are made part of the Annual Report.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, the Directors confirm that:

1 In the preparation of the annual accounts, the applicable accounting standards have been followed;

2 Appropriate accounting policies have been selected and applied 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 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 safeguarding the assets of the Company & for preventing & detecting fraud & other irregularities. 4 The accounts have been prepared on going concern basis.

INSURANCE:

The Company has taken adequate insurance to cover its assets.

LISTING:

Companys Securities are listed with the Stock Exchanges at Ahmedabad and Mumbai. Company has paid the listing fees for the year 2010-2011 to both the Stock Exchanges.

EMPLOYEES :

As there are no employees drawing remuneration more than the limit prescribed under Section 217(2A) of the Companies Act, 1956, and the Companies (Particulars of Employees) Rules, 1975, as amended, from time to time, statement under section 217(2A) is not required.

AUDITORS OBSERVATIONS :

The observation of the auditors in their report are explained in the notes to the accounts written which is explanatory.

AUDITORS:

The Companys Auditors M/s. B.M SARAF & Co., Chartered Accountants will retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. The Members are requested to appoint auditors for the current year and fix remuneration.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS AND OUTGO :

Particulars to be given in respect of the above activity under the Companies (Disclosure of Particulars in report of Directors) Rules, 1988 is given in the annexure to this report.

INDUSTRIAL RELATIONS:

The industrial relations have remained cordial in general throughout the year under review.

APPRECIATION:

The Board of Directors wish to place on record their deep appreciation and gratitude for the services rendered by the workers, staff and executives of the company. Board of Directors also convey their gratitude to the Investing Shareholders, Customers, Suppliers, Banks, Financial Institutions and various Private and Government Agencies for their continued co-operation and confidence reposed in the Company.

By order of the board

For NAVAL TECHNOPLAST INDUSTRIES LIMITED

Place: Ahmedabad

Date : 31.08.2010 Managing Director