th 12 th 12 okf"kZd fjiksVZ 2014&2015 okf"kZd fjiksVZ 2014&2015 Hkjiwj Qly izkIr djus esa lg;ksxh Hkjiwj Qly izkIr djus esa lg;ksxh CONTRIBUTING TO ACHIEVE BUMPER CROPS CONTRIBUTING TO ACHIEVE BUMPER CROPS ,Q lh vkbZ vjkoyh ftIle ,.M feujYl bf.M;k fyfeVsM ,Q lh vkbZ vjkoyh ftIle ,.M feujYl bf.M;k fyfeVsM FCI Aravali Gypsum & Minerals India Ltd. FCI Aravali Gypsum & Minerals India Ltd. , . M e l f e I u t f jY h l y o b k j f . M v ; Z- b k k f y v - h f e l - V s M Q , FCI Arawali Gypsum & Minerals India Ltd.
Transcript
th12 th12 okf"kZd fjiksVZ2014&2015okf"kZd fjiksVZ
2014&2015
Hkjiwj Qly izkIr djus esa lg;ksxhHkjiwj Qly izkIr djus esa lg;ksxhCONTRIBUTING TO ACHIEVE BUMPER CROPSCONTRIBUTING TO ACHIEVE BUMPER CROPS
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
3
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v/;{kh; Hkk"k.kDear Members and other dignitaries from Government of India, on behalf of Board Directors of your company, it is my pleasure to
thextend a very warm welcome to you at this 12 Annual General Meeting of the company. I would also like to convey my gratitude to all of you for sparing your valuable time to be with us on his extremely important occasion for the company.
Sir, I also feel a sense of great pleasure and delight that your company has finished one more year of successful operation. I congratulate all of you and the entire management team who maintained their efforts at this testing time. It could only be possible because of your trust and support which provided us immense strength to move towards fulfilment of our mission.
th Sir, your Company has completed 12 years of operation successfully. In these years the company has performed exceptionally well which is itself evident from its MOU ranking since 2006-07. During the year 2013-14 also, your company has achieved Excellent MOU ranking with 1.409 score.
Now I take this opportunity to share my views financial performance and future outlook of the company.
During the year under review, the company produced 1026379 MT of gypsum as against 802908 MT of gypsum of the last year. Out of that the company sold 837477 MT of gypsum as against 929261 MT of last year. The sales turnover and profit has been Rs. 82.44 crore and Rs.54.72 crores as against Rs. 88.59 crore and Rs. 52.11 crore respectively of last year. There was a volatile conditions of demand due to lower off take by UPBSN and UP Agro, competition from imported gypsum from Pakistan and
Financial Performance :
CHAIRMAN SPEECH
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
4
Oman and lower despatches from Mohangarh Mines due to deteriorating quality of Gypsum in Government land in the lease area, the sales turnover have come down as compared to previous year.
Efforts are being made to improve the quality of Gypsum by mining in Khatedar's land under the mining area in Mohangarh Mines also. We have been trying to impress upon UP Government and Bihar Government to place the order on us by writing letters by our senior officials of DoF. We expect with the kind support from officials of Department of fertilizers, we would be able to come out from this distress time and will touch the new height in terms of Sales and profit.
Further keeping the view of DPE guidelines and consistence track record of payment of dividend, we would like to inform you that Board of Directors of your company has recommended a dividend @127.5% on paid up capital of the company.
The Company has also applied for Miniratna-I category, we hope with kind support of Department of Fertilizers we would be able to achieve this category which will not only attract the talent but also enhance the moral of existing employee of the company.
Being a mining PSU falling under the administrative control of DOF, your company has focussed on two prongs strategies i.e. mining of minerals and production of SSP. For achieving the objectives and goal, the company had applied for mining lease of 32 gypsum mines and 9 mines of other minerals like SMS grade lime stone, Dolomite, Rock Phosphate and Quartz & Feldspar and Silica Sand in Rajasthan. Out of above only 7 gypsum mines have been cleared by Rajasthan Government. Production will be started from these mines after environment clearance, rest other 25 gypsum mines and 9 mines of other minerals were become ineligible due to MMRD Amendment Act 2015.
Further Central Government notified 31 minerals as minor minerals including gypsum which allows the others to enter into the business of mineral gypsum thus the company is facing competition from other small players.
With great pleasure, we would like to inform you that Government of Rajasthan has informed us that they are considering our proposal for reservation of two rock phosphate mines and one SMS grade dolomite for which we had been trying for the last four years.
Single Super Phosphate
For establishing the SSP plant, the company has acquired 11.01 Ha of land in Pandauli village near Kapasan Highway at Chittorgarh and got the approval with the kind support of Hon'ble Minister, Shri Anant Kumar for use of water from nearby Gosunda Dam. Presentation has been made for
Diversification and expansion:-
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,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
5
environment clearance and we expect the clearance from the pollution control board shortly. The task of Project Management Consultant will be awarded to M/s PDIL. It is expected to start the production in 2017-18.
White Cement Grade Lime Stone
The company also intends to mine the white cement grade lime stone in Himachal Pradesh and establish the white cement plant there in JV mode. For this the company applied for mining lease of white cement grade lime stone, the file is pending with Himachal Pradesh Government.
Corporate Social Responsibility and Sustainable Development
As a socially conscious corporate citizen, your company is in forefront in various CSR initiatives. Like every year this year also your company appropriated some part of its profit towards Corporate Social Responsibility Fund which would be spent for the welfare of the society nearby its mines. During this year, your company has spent Rs.80.30 lakh on various types of social welfare activities like promoting education, providing drinking water facilities, skill development and construction of community centre and toilets
The company also understands the need of sustainable development which is a great phenomenon that must be pursued in a complex system of interrelated elements of business, society, and ecology. For this it is important to gain an understanding of these elements and the behaviour of the system. Therefore the company installed at its head office, its mines office and village nearby our mines site solar system to reduce the carbon foot print which enabled company to save more than 5500 units of electricity every year.
Corporate Governance
Corporate Governance is a system of structures, rights, duties, and obligations by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stake holders). It is a mechanism for monitoring the actions, policies and decisions of corporations. Therefore in compliance with the DPE guidelines on Corporate Governance Guidelines-2010, the company has requested to Government for induction of Non Official Part Time Directors. The department has already initiated the proposal which is expected to be cleared very soon.
Finally, I would like to place on record the valuable guidance and support of the DOF, Ministry of Mines, State Government of Rajasthan and last but not the least to FAGMIL family who have contributed through enthusiastic efforts in the transformation of this company.
To become a leader in Mining of strategic minerals including gypsum for reclamation of land improving the health of the soil with sulphur nutrients, infrastructure development through supply of ROM gypsum to cement industries and producing various types of Fertilizers.
The Company's mission is to establish and carry on in India or in any part of the World all kinds of business relating to Gypsum and other minerals and their by-products and manufacture of various types of fertilizers, all organic and inorganic chemical compounds including by products, derivatives and mixtures thereof.
The main objective of the Company was to take over the entire unit known as Jodhpur Mining Organization (JMO) situated in the State of Rajasthan, being a Unit of Fertilizer Corporation of India Limited and to carry into effect the Scheme of separation
st(de-merger) of JMO with effect from 1 April 2003, as approved by Honb'le BIFR/the Central Government in this regard.
The other objectives of the company are as under :
(a) To mine and market Gypsum & other organic and inorganic minerals efficiently and economically in an environmental friendly manner.
(b) To effectively manage the assets & resources of the company to ensure a reasonable return on investments and maximize internal resources.
(c) To work out diversification / expansion schemes for the growth and to increase the Profitability of the Company and promote forward integration consistent with govt. policies/ guidelines.
(d) To venture into Production of other fertilizers such as SSP etc. in consistence with Govt. policies/ guidelines.
(e) To continuously upgrade the quality of human resources and promote organizational and Management development.
(f) To care for & protect the environment and also improving on the standards laid down by Pollution Control Authorities.
(g) To increase customers satisfaction by providing quality products & services.
Vision, Mission and Objectives of the Company
7
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
NOTICE
ORDINARY BUSINESS:
thNotice is hereby given that the 12 Annual GeneralMeeting of the members of the Company FCI Aravali Gypsum and Minerals India Limited will be held on
thMonday 28 September, 2015 at 4:30 p.m., at registered office of the company at Mangu Singh Razvi Marg, Paota B Road, Jodhpur to transact the following business:-
1. To receive, consider and adopt the audited Financial Statement of the Company for the financial year ended March 31, 2015, the reports of the Board of Directors' and Auditors' thereon; and
2. To declare dividend on Equity Shares of the Company.
3. To appoint Auditor(s) and fix their remuneration and in this regard, to consider and if thought fit, to pass the following resolution as an Ordinary Resolution :
“Resolved that the remuneration of Statutory Auditors of the Company who would be appointed by the Comptroller & Auditor General of India (CAG) for the financial year 2015-16, be fixed by the Board of Directors of the Company”
SPECIAL BUSINESS :
To consider and if thought fit, to pass with or without modification(s) the following resolutions as ordinary resolutions :
“RESOLVED THAT pursuant to Sections 61(1)(a) and 64(1)(a) of the Companies Act, 2013 and other applicable provisions of the companies Act, 2013, and the relevant rules formed thereunder and in accordance with the provisions of the Articles of Association of the Company, the consent of members of the company be and is hereby accorded to increase the Authorized share capital from existing Rs. 10,00,00,000 (Rs. Ten crore) divided into 1,00,00,000 (One crore) equity shares of Rs. 10/- each, to Rs. 30,00,00,000 (Rs. Thirty crore) divided into 3,00,00,000 (Three crore) equity shares of Rs. 10/- each, by creating 2,00,00,000 (Two crore) equity shares of Rs. 10/- each.”
“RESOLVED FURTHER THAT the new equity shares shall rank pari passu with the existing shares.”
“RESOLVED FURTHER THAT the Board of Directors of the Company or Committee thereof, be and is hereby authorized to do and perform all such other acts, deeds and things as may be necessary or desirable to give effect to the foregoing resolution without being required to seek any further consent or approval of the shareholders or otherwise and that the shareholders shall be deemed to have given their approval thereto expressly by the Authority of this resolution.”
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
5. To amend the Memorandum of Association
6. To amend the Articles of Association
To consider and if thought fit, to pass with or without modification(s) the following resolution as a special resolution:
“RESOLVED THAT in order to reflect the increase in Authorized Share capital of the Company, and in order to conform to the requirements of section 13, 61(1)(a), 64(1)(a) of the Companies Act, 2013, and all relevant Rules framed thereunder, the consent of the Members' is hereby accorded to amend the existing Clause V of Memorandum of Association of the Company in following manner i.e. existing clause V of the Memorandum of Association of the company be deleted and the same be substituted with the following new clause as Clause V:
V. The Authorized Share Capital of the Company is Rs. 30,00,00,000 (Rs. Thirty crore) divided into 3,00,00,000 (Three crore) equity shares of Rs. 10 (Rs. Ten) each.”
“RESOLVED FURTHER THAT pursuant to the provisions of section 4 and 13 and other applicable provisions of Companies Act, 2013 and relevant Rules framed thereunder (including any statutory modification(s) or reenactment thereof for the time being in force), the consent of the Company be and is hereby accorded for altering the object clause of Memorandum of Association of the Company by merging Clause C – OTHER OBJECTS with Clause B- Object Incidental or Ancillary to the attainment of the main object.”
“RESOLVED FURTHER THAT the Board of Directors of the Company or Committee thereof, be and is hereby authorized to do and perform all such other acts, deeds and things as may be necessary or desirable to give effect to the foregoing resolution without being required to seek any further consent or approval of the shareholders or otherwise and that the shareholders shall be deemed to have given their approval thereto expressly by the Authority of this resolution.”
To consider and if thought fit, to pass with or without modification(s) the following resolution as a special resolution:
“RESOLVED THAT in order to reflect the increase in Authorized Share capital of the Company and pursuant to the section 5, 14 and other applicable provisions and requirement(s) of Companies Act, 2013 and Rule framed thereunder, (including any statutory modification(s) or re-enactment thereof for the time being in force), the consent of members be and is hereby accorded for altering the existing Articles of Association as per the requirement of Companies Act 2013.”
“RESOLVED FURTHER THAT the Board of Directors of the Company or Committee thereof, be and is hereby
Note : A Member entitled to attend and vote at the meeting is entitled to appoint proxy to attend & vote instead of himself. A proxy need not be a shareholder of the company.
To :All Shareholders & Board of Directors
Copy to :M/s M. Parashar& Co.Chartered Accountants, Jodhpur
EXPLANATORY STATEMENT AS PER SECTION 102 OF THE COMPANIES ACT, 2013
4. To increase the Authorized Capital:
The present Authorized Share Capital is Rs. 10 crore comprising of 1 crore equity shares of Rs. 10 each and the paid up equity share capital of the company is Rs. 7,32,98,000 divided into 73,29,800 equity shares of Rs. 10 each.
In order to meet its growth objective, to strengthen its financial position and to make proper balance between capital and reserves, it has been proposed to increase the Authorized Capital. Therefore the Board in its 66th Board Meeting held on 23.05.2014 approved the proposal and decided that, subject to approval of the President and further approval of the members, the Company's Authorized Share Capital may be increased from Rs. 10 crore divided into 1 crore equity shares of Rs. 10 each to
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,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
authorized to do and perform all such other acts, deeds and things as may be necessary or desirable to give effect to the foregoing resolution without being required to seek any further consent or approval of the shareholders or otherwise and that the shareholders shall be deemed to have given their approval thereto expressly by the Authority of this resolution.”
By order of the Board of Directors,For : FCI Aravali Gypsum& Minerals India Limited
Sd.(Siddharth Kumar)
Company Secretary
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,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
Rs. 30 crore divided into 3 crore equity shares of Rs. 10 each by creating 2 crore equity shares of Rs. 10/- each.
Then the matter was put before the Government for approval and the approval of the President in this regard has been conveyed by the Department of fertilizers vide their letter No. 18018/05/2014-FCA dated 11.03.2015.
Further to comply with the regulatory norms mandated by Government in its circular number DPE OM no. DPE/ 12(6)/95 - Fin dated 10.11.1995 and to justify the proper balance between share capital and reserves, the company is in need of equity fusion and is therefore proposing to issue further capital.
Since the matter requires the approval of members in general meeting therefore it is being put for kind favour of members. Consequent upon the increase in Authorized Share Capital of the Company, existing clause 5 of the Memorandum and Articles of Association of the Company will also require necessary alteration so as to reflect the increase in the Authorized Share Capital.
None of the directors including Key managerial personnel of the Company and their relatives are interested or concerned in the resolution, which is recommended for approval. Therefore members are requested to consider the resolution favorably.
All concerned documents can be inspected on any day (except Sunday) between 10:00 A.M. and 5:00 P.M. at the Registered Office of the Company prior to the Annual General Meeting. Copies of all relevant documents will be available at the time of the meeting also.
In order to reflect the increased authorised share capital of the Company, Clause V of the Memorandum of Association of the Company needs be amended.
Further in order to comply with section 4 and 13 of the Companies Act 2013 and Rules framed thereunder, it is proposed to alter object clause of Memorandum of Association of the Company in the new format in conformity with Companies Act 2013 by merging Clause C – OTHER OBJECTS with Clause B- Object Incidental or Ancillary to the attainment of the main object. The Board of Directors at its 71st meeting held on April 22, 2015 also approved to adopt new set of Memorandum in place of existing Memorandum of Association of the Company.
As per section 13 of Companies Act, 2013, the alteration of the memorandum of association of the Company requires the approval of shareholders. The Board now seeks the approval of shareholders for the same.
None of the directors including Key managerial personnel of the Company and their relatives are interested or concerned in the resolution, which is recommended for approval. The members
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11
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
are requested to consider the resolution favorably.
All concerned documents can be inspected on any day (except Sunday) between 10:00 A.M. and 5:00 P.M. at the Registered Office of the Company prior to the Annual General Meeting. Copies of all relevant documents will be available at the time of the meeting also.
Upon enactment of the Companies Act 2013 various provisions of the Companies Act 1956 has been repealed and in view of the same the Articles of the Association of the Company need to be realigned as per the provisions of the new Act. Therefore it was thought appropriate to amend/ alter the existing Articles of Association of the company as per the requirement of Companies Act 2013. The Board of Directors at its 71st meeting held on April 22, 2015 approved the altered Articles in place of existing Articles of Association of the Company and seek shareholders' approval for the same. In terms of section 5 and 14 of the Companies Act, 2013, the consent of the members by way of special resolution is required for adoption of new set of Articles of Association of the Company.
None of the directors including Key managerial personnel of the Company and their relatives are interested or concerned in the resolution, which is recommended for approval. The members are requested to consider the resolution favorably.
All concerned documents can be inspected on any day (except Sunday) between 10:00 A.M. and 5:00 P.M. at the Registered Office of the Company prior to the Annual General Meeting. Copies of all relevant documents will be available at the time of the meeting also.
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
funs'kd e.My dk izfrosnu(In accordance with the section 134(3) of the Companies Act, 2013)
Dear Members,
On behalf of Board of Directors, I take pleasure to present the audited accounts of the company along with Auditors' and Directors' Report in 12th Annual General Meeting for the year ended on 31st March, 2015.
During the year under review, the company achieved turnover of Rs. 8243.64lakh (previous year Rs. 8859.27 Lakh) with Profit before exceptional and extra-ordinary item and tax of Rs. 5472.05 lakh (previous year Rs. 5210.92 Lakh). Decrease in Sale over previous year is mainly due to volatile demand by cement industries due to imported gypsum and lower off-take by UPBSN. Post-Tax profit stood Rs. 3536.73 lakh (Rs. 3046.00Lakh during the previous year 2013-14).The key figures relating to financial performance of the company for the year 2014-15 are given below:-
1. FINANCIAL RESULTS & APPROPRIATIONS:
DIRECTORS' REPORT
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funs'kd e.My dh vksj ls eq>s dEiuh dh ckgjoha vke lHkk esa 31 ekpZ 2015 dks lekIr gksus okys o"kZ ds fy, funs'kdksa o vads{kdksa ds izfrosnuksa lfgr vadsf{kr ys[kks dks izLrqr djus esa izlUurk dk vuqHko gks jgk gSA
dEiuh us foRrh; o"kZ ds nkSjku ` 8243-64 yk[k ¼fiNys o"kZ ` 8859-27 yk[k½ dh fcØh dh lkFk ` 5472-05 yk[k ¼fiNys o"kZ 5210-92 yk[k½ dk dj o viokfnd] vlk/kkj.k en o dj iwoZ ykHk vftZr fd;kA fiNys lky ds eqdkcys fcØh esa deh eq[;r;k lhesaV b.MLVªht esa vfLFkj ekax] vk;kfrr ftIle rFkk ;w-ih-ch-,l-,u- dh de vko';drk dh otg ls gqbZ gSA dEiuh us fiNys o"kZ ` 3046-00 yk[k dh rqyuk esa bl o"kZ ` 3536-73 yk[k dk dj i'pkr ykHk vftZr fd;k gSA dEiuh dh foRrh; miyfC/k;ksa ls lEcfU/kr o"kZ 2014&15 ds izeq[k vkadMs+ uhps fn;s tk jgs gS %
¼1½ foRrh; ifj.kke ,oa fofu;kstu
fooj.k Particulars 2014-15 2013-14ldy fcØhdj] C;kt] vlk/kkj.k] viokfnd eniwokZof/k en] o ewY;gkl ls iwoZ ykHkewY; gklC;ktewY;gkl o C;kt i'pkr~ ykHkiwokZof/k lek;kstudj o viokfnd] vlk/kkj.k en o dj iwoZ ykHkviokfnd en&vk;@¼O;;½vlk/kkj.k en o dj iwoZ ykHkvlk/kkj.k endj iwoZ ykHkorZeku dj ds fy, izko/kkuvkLFkfxr djfiNys o"kZ dk dj lek;kstudj i'pkr ykHkykHk gkfu [krs ls gLrkUrj.kfofu;kstuizLrkfor ykHkka'kYkkHkka'k ij dj lkekU; lap esa gLrkUrfjrfodkl lap; esa gLrkUrfjrvxys o"kZ ys tk;k x;k 'kq) vf/kD;
Turnover
Profit before Depreciation, Prior PeriodExceptional, Extra-Ordinary items, Interest & Tax
Depreciation
Interest Paid
Net Profit after Depreciation & Interest
Past Period adjustment
Profit before exceptional and extra-ordinary item and tax
Exceptional Items - Income / (Expenditure)
Profit before extra-ordinary item and tax
Extra-Ordinary Item
Provision for Current Tax
Deferred tax change
Tax adjustment for previous year
Transfer from P & L Account
Appropriations
Proposed Dividend
Tax on Dividend
Transfer to General Reserve
Transfer to Development Reserve
Net Closing surplus carried to next year
Profit after Tax (PAT)
Profit Before Tax
8243.64
5497.99
(35.97)
(2.91)
5459.10
12.95
5472.05
9.68
5481.74
0
(1869.96)
(81.33)
6.29
3536.73
2255.64
934.55
186.85
353.67
1690.73
2626.57
5481.74
8859.27
5240.42
(16.39)
(0.00)
5224.03
(13.11)
5210.92
(711.63)
(4499.29)
0.00
4499.29
(1654.52)
210.10
0.12
3046.00
1973.17
930.88
158.20
304.60
1369.84
2255.64
13
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
2. SHARE CAPITAL :
3. DIVIDEND AND BONUS :
4. ACHIEVEMENTS:
The Company's authorized capital and paid up equity share capital as on 31st March, 2015 has remained at the previous year's level of Rs. 10 crore and Rs. 7,32,98,000respectively.
During the year the company has not made any type of issue of capital with reference to Differential rights, Employees Stock option and Sweat Equity either to its employees or other person.
Your company has consistent track record of dividend payment so far. Therefore keeping in view the good performance of the company your Directors has recommended a dividend of Rs.93454950@ 127.5% of paid up capital (Rs. 12.75 per share of Rs. 10/- each) for the year 2014-15 (Previous year Rs. 9,30,88,460) which if approved at the ensuing 12th Annual General Meeting (AGM), will be paid to all those shareholders whose names appear in the Register of Members.
A. MOU Rating : MOU is a mutually negotiated agreement between the management of the Central Public Sector Enterprises (CPSEs) and the Government of India. Under this agreement, the CPSE undertakes to achieve the targets set in the agreement at the beginning of the year and the performance is rated every year on one point scale.
Your directors have honor to place on the record that your company has achieved Excellent MOU ranking with 1.409 score
thfor the year 2013-14. This is consecutive 6 year that your company has obtained Excellent ranking in MOU. Your directors are confident to achieve the same ranking for the year 2014-15 also.
thYour Company has entered into 10 MOU for the year 2015-16 with DOF, Ministry of Chemicals & Fertilizers, Government of
thIndia on 30 March 2015.
B. Miniratna Category : The Company has been performing extremely well since its incorporation and has been making continuous profit since inception i.e. 2003-04. Therefore keeping the view of consistence performance, the Government of India conferred the status of “Miniratna-II” category to the company on 06.06.2011vide letter no. 18018/2/2011-FCA.
During the year 2012-13, 2013-14 and 2014-15, the company has achieved a PBT of Rs. 38.51 crore, Rs.44.99 crore and Rs. 54.82 crore which qualify the company to claim Miniratna-I status. For this the company has approached to Department of Fertilizers if it is granted this will certainly add one more jewel in the crown of the company.
C. ISO Certification : ISO helps us to ensure that customers get consistent and good quality of product and services under specified criteria and fulfilling the standard laid down for protection of health, safety and environment.
Therefore the company got its operations audited w.r.t. quality of
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
Dividend cheque being presented by Dr. S.K. Das to Hon'bleMinister Shri Ananth Kumar in presence of senior officers of DoF
Dividend cheque being presented by Dr. S.K. Das to Hon'bleMinister Shri Ananth Kumar in presence of senior officers of DoF
MoU for the year 2015-16, being exchanged by Secretary (F),Shri J.K. Mohapatra and CMD, Dr. S. K. Das
MoU for the year 2015-16, being exchanged by Secretary (F),Shri J.K. Mohapatra and CMD, Dr. S. K. Das
15
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
product, services, health safety and environment and implemented the Integrated Quality Management System (IQMS) for Mohangarh, Suratgarh-Ramsinghpur and Bikaner group of mines which have been accredited by ISO certificates for a period of three years as under.
With this all major mines including Corporate Office at Jodhpur have been covered under Quality Management System (QMS).
During the year the total production of Gypsum was 1026379 MT (95.48% of licensed capacity) as compared to 802908 MT production of previous year. The company sold 837477 MT (previous year 929261 MT) of gypsum to Uttar Pradesh Agro Development Corporation, Uttar PradshBhumiSudhar Nigam Limited, HLRDC and various other cement companies.
Mine wise sales of current year in relation toprevious year are given as under:-
3-700-001-042-001-638-37
4-630-000-992-251-429-29
5-500-001-052-851-35
10-75
67-270-00
99-0570-18
120-7481-66
Group ofMines
2014-15(Lakh MT)
2013-14(Lakh MT)
AnnualCapacity LMT
Achievement asa%of Capacity
Mohangarh
Kavas
Bikaner
Suratgarh
Ramsinghpur
Total
16
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
b. Financial Performance
c. Sales Promotion
6. PROCUREMENT FROM MSME :
7. CONTRIBUTION TO NATIONAL EXCHEQUER:
8. STATUS OF EXISTING & PROPOSED MINING LEASES:
One of the most fundamental facts about businesses is that the operating performance to earn maximum revenue by way of its sale and profit. Therefore pursuing this objective, the Company has achieved Sales turnover and Profit before exceptional & extra-ordinary items and tax of Rs.82.44 crores (previous year Rs. 88.59 crores) and Rs. 54.72 crore (Previous year Rs. 52.11 crore) respectively. The post-tax profit stood at Rs. 35.37crore (previous year Rs. 30.46 crores). Sale is low due to lower off take by UPBSN and Cement Industries.
Sales promotions are set of marketing activities undertaken to boost up the sales to persuading a potential customer to buy the product. It not only includes advertising campaigns but also include participation in various trade fairs etc. The Company directly however does not take part or organize any agriculture mela however through various agriculture universities it gets the utility of mineral gypsum demonstrated among the farmers.
In a major boost to the domestic Micro, Small and Medium Enterprises (MSMEs), the Government has decided to reserve 20 per cent of all government purchases for the MSME sector. Therefore against Gazetted notification no. 581(2) dated 23.03.12,FAGMIL purchased items worth Rs. 27.29 lakh from micro and small enterprises against its annual target of Rs. 20.00 lakh during the financial year 2014-15.
The Company made a contribution of Rs. 48.32 crore (previous year Rs. 42.17 crore) by way of Income Tax, Sales Tax, Excise duty, Service Tax, Royalty, Service Charges, Land Tax, Environment & Health charges and Dividend to the Central and State exchequer during the financial year 2014-15.
The following are details of our existing mining lease:-
a. Status of existing Mines
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fdlh Hkh O;olk; dk ewyHkwr rF; gksrk gS fd og foØ; ds ek/;e ls vf/kd ls vf/kd ykHk vftZr djsaA vr% mi;qZDr mn~ns'; dk vuqlj.k djrs gq, dEiuh us ̀ 82-44 djksM+ ¼fiNys o"kZ ̀ 88-59 djksM½ dh fcØh o ̀ 54-72 djksM+ ¼fiNys o"kZ ̀ 52-11 djksM½ dk viokfnd] vlk/kj.k en o dj iwoZ ykHk vftZr fd;k gSA dj i'pkr~ ykHk ̀ 35-37 djksM ¼fiNys o"kZ ̀ 30-46 djksM½ dk jgkA fcØh esa deh lhesaV baMLVªht rFkk ;w-ih-ch-,l-,u- }kjk de eky fy, tkus ds dkj.k gqbZ gSA
,d ,slk xfrfof/k;ksa dk lewg gS ftlesa laHkkfor xzkgdks dks ryk'kus o xzkgdks dks mRikfnr oLrq dks [kjhnus ds fy, izsfjr fd;k tkrk gSA blesa u dsoy foKkiu oju~ O;kikfjd esyks esa Hkkxhnkjh Hkh fufgr gksrh gSA gkykfd fd dEiuh us fdlh Hkh esys esa izR;{k :i ls Hkkx ugha fy;k vkSj u gh ,sls fdlh esys dk vk;kstu fd;k gS ijUrq fofHkUu Ñf"k fo'ofo|ky;ksa ds ek/;e ls fdlkuksa ds chp ftIle dh mi;ksfxrk ls lacfU/kr izpkj lkefxz;ksa dks izlkfjr fd;k gSA
?kjsyw lw{e] e/;e ,oa y/kq m|ksxks dks c<+kok nsus ds mn~ns'; ls] ljdkj us lHkh [kjhn dk 20 izfr'kr bu m|ksxks ls Ø; djus ds fy, fn'kk funsZ'k fnuakd% 23-03-2012 dks tkjh fd;kA ftlds vUrxZr dEiuh us o"kZ 2014&15 ds nkSjku vius yf{kr jkf'k 20-00 yk[k ds fo:) 27-29 yk[k dk Ø; bu m|ksxks ls fd;k gSA
foRrh; o"kZ 2014&15 ds nkSjku dEiuh us dqy ` 48-32 djksM ¼fiNys o"kZ ̀ 42-17 djksM½ dk ;ksxnku vk;dj] fcØh dj] mRiknu 'kqYd] lsok dj] vf/k'kqYd] lsok 'kqYd] Hkwfe dj] i;kZoj.k o LokLF; 'kqYd ,oa ykHkka'k ds :i esa dsfUnz; o jktdh; jktdks"kksa esa fd;kA
of GOI. Environmentclearance obtained.Mine is operational.
1.
2.
3.
4.
5.
Mohangarh, Jaisalmer
Mohangarh-1,Jaisalmer
Karnisar,Sriganganagar
RP- MainSriganganagar
RP- 1Sriganganagar
Mine is operational
Mine is operational
Mine is operational
Mine is operational
17
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
j?kqukFkiqjk & IIIJh xaxkuxj
BsBkj Jh xaxkuxj
ineiqjk Jh xaxkuxj
fd'kuiqjk & v
4-747
100-81
120-00
4-98
22-02-2010
16-05-2007
19-12-2008
24-04-2014
50000
90000
15000
50000
[kku izpyu esa gSA
[kku izpyu esa gSA
[kku izpyu esa gSA
[kku izpyu esa gSA
dokl ftIle ekbUlckM+esj
6-
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16- 457-36 02-05-1952 30000
/kka/kMk] Jh xaxkuxj13- 132-37 25-08-1967 35000 [kku izpyu esa gSA
[kky&Jh xaxkuxj14- 86-12 16-05-2007 50000 [kku izpyu esa gSA
dqiyh Jh xaxkuxj15- 4-8 07-07-2010 50000 [kku izpyu esa gSA
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11-
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200-00
14-09-1966
11-05-2007
40000
15000
[kku izpyu esa gSA
[kku izpyu esa gSA
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10- dkouh] chdkusj 251-53 14-09-1966 50000 [kku izpyu esa gSA
4.747
251.53
100.81
111.49
86.12
120.00
200.00
4.8
4.98
132.37
457.36
22.02.2010
14.09.1996
16.05.2007
14-09-1966
16.05.2007
19.12.2008
11.05.2007
07.07.2010
24.04.2014
25.08.1967
02.05.1952
50000
50000
90000
40000
50000
15000
15000
50000
50000
35000
30000
6.
10.
7.
11.
14.
8.
12.
15.
9.
13.
16.
RP- IIISriganganagar
ThetharSriganganagar
PadampuraSriganganagar
Kishanpura-A
Kaoni,Bikaner
Bharru,Bikaner
Randhisar,Bikaner
DhandraSriganganagar
Khal,Sriganganagar
Kupli,Sriganganagar
KavasBarmer
Mine is operational
Mine is operational
Mine is operational
Mine is operational
Mine is operational
Mine is operational
Mine is operational
Mine is operational
Mine is operational
Mine is operational
Proposal is pending withsate Government of Rajasthan
a. Obtaining new mining lease
9. DIVERSIFICATION AND EXPANSION :
Gypsum
During the year, the company succeeded to obtain 7 new gypsum mining leases of Kishanpura B, Kishanpura Main, Dhirera, Malkisar Chhota, 5 SD, Deepdas ki Dhani, and 3 BPM with annual capacity of 450000 MT which are further pending for environment clearance. We hope after Environment clearance, the company would be able to start the production from these mines.
Diversification and Expansion strives to smooth out unsystematic risk events in a business so that the positive performance of some minerals will neutralize the negative performance of others. It not only helps the company to increase revenue but also helps in achieving the set objectives, increases the market share, goodwill, reputation and gains new identity in corporate world.
Therefore keeping in view of the above, the company has made its diversification and expansion plan as under:
a. Most of the high grade gypsum deposits are depleting gradually, therefore the new area are required to be explored. In this connection, the company had applied total 32 gypsum mines at various places of Rajasthan but 25 mining leases become ineligible due to MMRD Amendment Act 2015 and only 7 leases are proposed for sanction subject to clearance by MOEF. Therefore it is very difficult to acquire new mining leases of gypsum in new scenario.
b. To increase the existing production capacity, the Company applied to MOEF, GOI for enhancing the capacity of 2 gypsum mines i.e. Padampura, and Dhandra and hope that Environment clearance will be received very soon for enhanced quantity.
¼c½ dEiuh us nks orZeku [kkuksa ineiqjk o /kka/kM+k dh mRiknu {kerk c<+kus gsrq i;kZoj.k ,oa ou ea=ky; Hkkjr ljdkj ds le{k vkosnu fd;k gS] gesa vk'kk gS fd ;s izLrko o"kZ ds nkSjku izkIr dj fy;s tk;sxsA
18
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
Single Super Phosphate (SSP)
Rock Phosphate,
SMS Grade Lime Stone and Dolomite
10. Human Resource Managment :
a. Employees Welfare
The company got approval of Central Government for establishing the SSP plant in Chittorgarh of 800 ton per day at an investment of Rs. 81.62 crores. For this, the company has acquired 11.01 Ha of land in Pandauli village near Kapasan Highway at Chittorgarh and obtained the permission for use of water from Gosunda Dam. The Company has also assigned the job of environmental clearance and hope to obtain environmental clearance very soon from Rajasthan Pollution Control Board.
The company had applied for mining leases of 9 mines but these become ineligible due to change in MMRD Amendment Act 2015. However this amendment also relaxed the company from few conditions to some extent by which the company can participate into auction of other minerals along with gypsum which were not possible under old regime.
The company also applied for mining of white cement grade lime stone in Himachal Pradesh and intends to establish white cement plant in joint venture.
HRM is a function in an organisation designed to maximize employees' performance in achieving employer's strategic objects. HR is primarily concerned with how people are managed within organizations, focusing on policies & systems. It is also responsible for welfare of employees by way of training & development, performance appraisal &rewarding. Therefore to motivate the employees and implementing the welfare schemes, the company has taken various steps as under :
The company has implemented recommendation of 2nd Pay revision with regard to IDA pattern of pay revision since January 2007 and took group term life insurance policy which protects the family of the employees in case of sudden demise or disablement of the employees. A new pension scheme for the benefit of the employees has already been implemented. The retirement age of the employees of the company is 60 years.
Training & Development arethe educational process. People can learn new information, re-learn and reinforce existing knowledge and skills, and most importantly have time to think and consider what new options can help them improve their effectiveness at work.
Therefore to sustain in changing business environment and increase the effectiveness at work, the company provided 81 and
vuqlwfpr tkfr@tutkfr] HkwriwoZ lSfudks] vYila[;dks ,oa 'kkjhfjd :i ls fodykax O;fDr;ksa dh fu;qfDr;ksa ,oa inksUurh ls lacfU/kr vkj{k.k esa ljdkj ds funs'kksZ dk /;ku j[kk tkrk gSA fnuakd 31-03-2015 dks dEiuh esa dqy 58 deZpkjh Fks ftlesa ls 30 vf/kdkjh o 28 xSj vf/kdkjh deZpkjh FksA fnukad 31-03-2015 dks vkjf{kr oxZ ds jkstxkj ds lEcU/k esa fuEu fooj.k gS %&
l- dEiuh esa dY;k.k ;kstukvksa dk fØ;kUo;u ,oa vkS|ksfxd laca/k
29 man-days training to its executives and non-executives respectively by deputing employees for external and in house training programmes.
Apart from above time to time seminars on Immunity from various diseases by Yoga/ Hastha Mudras and household medicines are organized which on the one hand relieve the employees from small diseases and on the other hand prevents the side effect of allopathic medicines.
The employer-employees relationship continued to be harmonious during the year. There was no loss of production due to any adverse situation.
The Company has been observing Government of India's directives on recruitment and promotions with regard to reservation of posts for SCs/STs, Ex-Servicemen, Minority and Physically Handicapped persons. Manpower strength of the company as on 31.03.2015 was 58 comprising 30 executive and 28 non-executives. Details regarding employment of reserved categories as on 31.3.2015 are given below:
c. Implementation of welfare schemes in Company and Industrial Relation
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1
2
3
4
5
6
7
8
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dqy
07
02
0
0
0
09
03
37
58
12
3
0
0
0
16
5
64
100
S.No. Category No. of Employees
1
2
3
4
5
6
7
8
Schedule Castes
Schedule Tribes
Ex-Servicemen
Minority
Physically Handicapped
OBCs
Women
Other
Total
07
02
0
0
0
09
03
37
58
12
3
0
0
0
16
5
64
100
%age
The company is also implementing various social schemes for the welfare of society and employees under which it provides scholarship, tuition fee (for 2 children) and reimburse the cost of study material to children of employees.
Under section 134 (3) of Companies Act, 2013 and Rule 8(3) of Companies (Accounts) Rules, 2014, it is hereby mentioned that the Company does not deal in energy efficient manufacturing plants; therefore it is not applicable to the company.However under Sustainable Development activities, the company has installed solar system at Jodhpur and area offices to save the carbon footprint which enabled the company to
11. Conservation Of Energy, Technology Absorption, Foreign Exchange Earnings And Out Go:
Company did not procure any technology for its operation.
Refer Management Discussion and Analysis Report.
Nil.
In accordance with section 197 of the Companies Act 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, No employee was in receipt of remuneration of Rs. 500,000/- pm or more (Rs. 60,00,000 pa) throughout the financial year or part of the financial year. Therefore it is not applicable to the company.
In accordance to section 134(5) of Companies Act, 2013, your directors confirm that:
a. In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;
b. the directors had 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 and loss of the company for that period;
c. the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
d. The directors had prepared the annual accounts on a going concern basis;
e. The directors, in the case of a listed company, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.
f. The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
ge pkgrs gS fd lkjh izkarh; cksfy;k ftlesa lqUnj lkfgR; dh l`f"V gqbZ gS vius&vius izkar esa jkuh cu dj jg svkSj vk/kqfud Hkk"kkvksa ds gkj dh e/;ef.k fganh Hkkjr Hkkjrh gksdj fojktrh jgsA
xq:johUnzukFk VSxksj
Technology absorption, adoption and innovation :
Research and Development (R & D) :
Foreign Exchange Earning and Outgo :
12. DETAILS OF EMPLOYEES
13. RESPONSIBILITY STATEMENT OF BOARD OF DIRECTORS
14. IMPLEMENTATION OF OFFICIAL LANGUAGE :
The
21
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
Therefore for implementing the provisions of Official Language Act, 1963 and policy of the Government of India. Hindi diwas/ saptah&pakhwara is celebrated every year in which Hindi workshop is organized where varieties of Hindi competition like Hindi essay, Hindi slogan, Gyan Ganga competitions are conducted. In this workshop best Hindi user is awarded. During this year “Hindi Pakhwada” was celebrated from 13th September 2014 to 27th September 2014.
Vigilance is considered to be an integral part of the Management function. Shri D. P. Srivastava, ISS, Chief Vigilance Officer FAGMIL is in additional charge and is stationed at New Delhi. He provides direction, guidance and supervision over the vigilance efforts of the Company. One Vigilance officer and one Asst. Vigilance Officer are assistingChief Vigilance Officer.
The Company has adopted preventive vigilance as the main theme. The stress is on transparency and accountability in the working of the Company. Vigilance Notice Boards have been installed in all offices/mines displaying the address and telephone number of the Chairman & Managing Director, Chief Vigilance Officer and Central Vigilance Commission along with e-mail ID, who can be approached for complaints of corruption.
Agreed List and List of Officers of Doubtful Integrity for the year were prepared. A total of 72 surprise and regular inspections were carried out during the financial year 2014-2015. On the basis of findings of inspections and scrutinizes, important suggestions were given to the Management for remedial action. A total of 100 vigilance clearances were accorded during this financial year and 34 APRs were scrutinized.
To sensitize the employees about vigilance, Vigilance Calendar was prepared and 10 workshops were conducted at Mines / Offices and head office Jodhpur. The management has been advised to update financial handbook at the earliest.
In consonance with the directives of Central Vigilance Commission, “Vigilance Awareness Period –2014” was observed from 27.10.2014 to 01.11.2014 at the Registered Office and all the Area Offices / Mines of the Company.
FAGMIL is committed to continue its efforts towards raising the standards in Corporate Governance and also review its procedure and system constantly in order to keep pace with fast changing environment in the country. Therefore in compliance with the DPE guidelines on Corporate Governance-2010, the company approached for appointment of non-official part time director in the company whose file is pending with Government.
a. The Board of Directors along with its committees
15. VIGILANCE DEPARTMENT ACTIVITIES AND ACHIEVEMENTS :
16. REPORT ON CORPORATE GOVERNANCE:
? Board of Directors :
Company's Philosophy on Corporate Governance :
22
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
Parliamentary Committee of Rajbhasha consistingof Members of Parliament, inspecting the work of Company
Parliamentary Committee of Rajbhasha consistingof Members of Parliament, inspecting the work of Company
Official of the company during inspection of workby Parliamentary Committee onRajbhasha
Official of the company during inspection of workby Parliamentary Committee onRajbhasha
23
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
A file photo of Vigilance Awareness WeekA file photo of Vigilance Awareness Week
A file photo of Annual General MeetingA file photo of Annual General Meeting
24
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
funs'kd i"kZn dh ljapuk] i"kZn dh lHkk esa lnL;ks dh mifLFkfr o vke lk/kkj.k lHkk essa funs'kdks dh mifLFkfr bl izdkj jgh gSA
provides leadership and guidance to Company's management and directly supervises & controls the performance of the Company. The Board of Directors presently comprises 3 members. Out of which one is Chairman & Managing Director and 2 part time official directors who were appointed by the Government of India.
b. During the year under review six board meetings were held viz. 04.04.14, 23.05.14, 29.08.14, 15.10.14, 28.11.14 and 06.02.15. The maximum gap between two Board Meetings has not exceeded 4 months.
The Composition of Board, attendance at Board Meetings held during the financial year & attendance at last Annual General Meeting are as follows:
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During the year 2014-15, Shri Anilkumar V. Patil, Part Time Official Directors has been appointed in place of Shri Mukesh Bhardwaj on 16.09.2014.
Last AGM held on 29th August, 2014 at registered office, Jodhpur.
The Audit Committee is one of the main pillars of the corporate governance system in companies charged with the principal oversight of financial reporting and disclosure. The Audit Committee aims to enhance the confidence in the integrity of the company's financial reports and announcements, the internal control processes and procedures and the risk management systems. To review the working of the company during the financial year under review four meetings of the audit committee have been held viz. 22ndMay, 2014, 29th August, 2014, 15th October, 2014, and 15thMarch 2015. The composition of Audit
25
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
ekpZ] 2015 dks lEiUu gqbZA lfefr dh lajpuk o cSBdks esa lnL;ksa dh mifLFkfr fuEu izdkj gS%&
Committee and attendance of members in meetings are as follows:-
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ukekadu] ikfjJfed vkSj fgr/kkjdks dh lfefr %&
The company is not having independent Director either in its Board.
and DPE Guidelines on Corporate Governance dated 14.05.2010, Our Company has “Whistle Blower Policy” for employees to report to management about instances of unethical behaviour, actual or suspected fraud or violation of the Company's code of conduct or ethics policy. No personnel of the Company have been denied access to the Audit Committee.
Being a Government Company and having status of Private Limited Company, section 178 of Companies Act 2013 is not applicable. However the Company has remuneration committee comprising of 2 Government Directors, General Manager and Dy. General Manager (F) which decides the amount of PRP payable to employees. During the year two meetings of remuneration committee were organized.
Further, the entire share capital is held by President of India therefore no stakeholder's committee is required.
Under Section 135 (2) of the Companies Act, 2013 and Corporate Social Responsibilities and Sustainable Development guidelines 2014, every company is require to have 2 tier CSR committee. Therefore in compliance with guidelines, the company has board level& below board level committees. The detail reports have been given in annexure-1& MDAR section.
As per clause 5.6 of Corporate Guidelines 2010 issued by DPE, During the year CMD drew total remuneration of Rs. 3798320/- comprising of Basic, DA, HRA, Medical, Canteen, Uniform, Professional Development allowance, LTC, PRP and PF contribution.
Terms of reference of Audit Committee: As per DPE guidelines on Corporate Governance dated 14.05.2010.Whistle blower Policy/ Vigil Mechanism As per section 177(9) of Companies Act, 2013
Nomination and Remuneration and Stake holders' Committee :
CSR Committee:
Remuneration to Directors :
Name Designation Attendance
Major Vikram Singh Rana(Dt. 02.04.13)
Shri Mukesh Bhardwaj(Dt. 06.12.13 to 16.9.14)
Shri Anilkumar V. Patil(Dt. 16.9.14)
Dr. S.K. Das
Member (Dt. 19.5.13)Chairman (Dt. 13.12.13)
Member(Dt. 13.12.13 to 16.9.14)
Member(Dt. 15.10.14)
Member
26
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
A certificate of compliance of Corporate Governance norms is attached at annexure-2
The company has not granted any loan or given guarantee for any loan or made any investment u/s 186 of Act which are required to be disclosed u/s 134(3)(g) of the Act.
There were no related party transactions u/s 188 of Act, 2013 that may have a potential conflict with the interests of Company and which are required to be disclosed u/s 134(3)(h) of the Act.
There was no case of non-compliance of statutory provisions of the Companies Act, 2013 or any other statutory authority. These authorities have not passed any strictures or imposed any penalty on the Company on any matter during last three years which are required to be disclosed u/s 134(3)(q) of the Act.
The company is not having subsidiary under Rule 8 (iv) of Companies Accounts Rule 2014 the reports of which are required to be disclosed u/s 134(3)(q) of the Act.
The Company has not taken any deposit from its member Rule 8 (v) of Companies Accounts Rule 2014which are required to be disclosed u/s 134(3)(q) of the Act.
There were no cases of sexual harassment of women at work placewere reported during the year under Sexual Harassment of women at Workplace (Prevention, prohibition and Redressal) Act 2013.
The company has obtained the declaration from its Board Members and senior management officials that they have received, read and understood the Code of Business Conduct and Ethics for Board Members and Senior Management and affirmed that they had complied with and has not violated any of the provisions of the Code during the year ended 31st March 2015.
U/s 139(5) of the Act, the Comptroller & Auditor General of India (CAG) has appointed M/s M. Parashar& Company, Chartered Accountant, Jalore as statutory auditors of your Company for the year 2014-15 vide order dated 01.08.2014 and they have scrutinized the accounts for the year 2014-15 and submitted the draft audit report.
There are nothing adverse remark in auditors' report, on which comments of Directors are required to be furnished u/s 134(3) and (4) of the Act.
Comments of the Comptroller & Auditor General of India
17. Disclosures :
Means of communication :
18. AUDITORS :
Annual Financial Results are posted on Company's website www.fagmil.nic.in
27
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
vkids funs'kd Qsxfey ifjokj ds lHkh lnL;ksa dk vkUrfjd :i ls ljkguk djrs gS ftuds leiZ.k] vFkd ifjJe ,oa lg;ksx ls dEiuh ds fu"iknu esa Js"B izn'kZu laHko gks ldkA
¼19½ ykxr ys[kkas dks j[kj[kko %
¼20½ vkHkkj izn'kZu %
under section 143(6) of the Companies Act, 2013 and the report of the statutory auditors are given in annexure-3to the Directors' Report.
According to the provisions of section 148 (1) of the Companies Act, 2013 and Rule-3 of, the Companies (Cost Records and Audit) Rules- 2014, the company kept books of accounts relating to utilization of material, labour and other items of cost as applicable to our mining company.
Your Directors are grateful to the Government of India particularly the Department of Fertilizers, Ministry of Chemical & Fertilizers & Ministry of Mines, for their continued co-operation, support and guidance in effective management of Company's affairs and resources.
Your directors also place on record the appreciation received from State Governments of Rajasthan, Indian Railway, its vendors and various customers, bankers, during the year and look forward to continuance of this mutually supportive relation in future.
The Directors also convey their thanks to the Statutory Auditors M/s M. Parashar& Co. and the Comptroller & Auditor General of India for their valued co-operation.
Your directors also wish to express their appreciation to all the members of FAGMIL family, whose dedication, hard work and co-operation have made it possible for the Company to show excellent performance.
19. MAINTENANCE OF COST RECORDS:
20. ACKNOWLEDGEMENT:
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¼Mk- ,l-ds-nkl½v/;{k ,oa izca/k funs'kd
fnukad % 01-07-2015LFkku % ubZ fnYyh
For & on behalf of the Boardof Directors
(Dr. S.K. Das) Chairman & Managing Director
Date : 01.07.15Place : New Delhi
28
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
Annual report on Corporate Social Responsibilities Activities 1. A brief policy outline of the company's Corporate Social Responsibilities including overview of projects or programs being undertaken and proposed to be undertaken and a reference to the web-link to the CSR policy and projects or programs.? Drinking Water facility? Education? Health and Family Welfare? Building of Roads, Pathways and Bridges? Setting up of skill development centers? Electricity facility? Construction of community centres/ Night shelters/ old age
homes.
Shri S. S. Shekhawat, GMShri D. K. Arora, DGM(M)Shri R. Senthil Kumar, DGM (T)Shri P. Pochaiah, DGM(F)
*Give details of implementing agency :1. In case the company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof, the company shall provide the reasons for not spending the amount in its Board report. 2. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives and Policy of the company.
We hereby declare that implementation and monitoring of CSR activities are in compliance with CSR objectives and policy of the company.
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ge vkxs ;g Hkh O;Dr djrs gSa fd mi;qZDr vuqikyu Hkfo"; ds O;ogZrk ds fy, u rks vk'oklu gSa vkSj u gh Hkfo"; esa bldh n{krk dks izLrqr djrk gSa ftlds vk/kkj ij dEiuh izcU/ku us dk;Zdykiksa dks rS;kj fd;k gSa
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Annexure-2
Corporate Governance Compliance Certificate
The Members
FCI Aravali Gypsum and Minerals India Limited
Mangu Singh Razvi Marg, Paota B Road,
Jodhpur
We have examined all relevant records for the purpose of compliance of Corporate Governance norms of FCI ARAVALI GYPSUM AND MINERALS INDIA LIMITED for the year ended on 31st March 2015.
The compliance condition of Corporate Governance is the responsibility of the management. Our examination was limited to procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the company.
In my opinion and to the best of our information and according to the explanations given to us, we certify that the Company has complied with the conditions of Corporate Governance as stipulated and mentioned in the Guidelines on Corporate Governance for Central Public Sector Enterprises 2010.
We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company.
For Promod Kumar Sharma
Practicing Company Secretaries
Sd/-
(Promod Kumar Sharma)
FCS:-5461
C.P. No.–4911
Place: New Delhi
Date: 01.07.2015
32
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
Annexure-3
Comments of the Comptroller and Auditor General of India under section 143(6) (b) of the Companies Act, 2013 on the Financial Statement of FCI Aravali Gypsum and India Limited for the year ended 31st March, 2015.
The preparation of financial statement of FCI Aravali Gypsum and stMinerals India Limited for the year ended 31 March 2015 in
accordance with the financial reporting framework prescribed under Companies Act, 2013 is the responsibility of the management of the company. The statutory auditor appointed by the Comptroller and auditor General of India under section 139(5) of the Act is responsible for expressing opinion on the financial statements under section 143 of the Act based on independent audit in accordance with the Standards on Auditing prescribed under section 143(10) of the Act. This is stated to have been done
stby them vide their audit report dated 1 July, 2015.
I on behalf of Comptroller and Auditor General of India have decided not to conduct the supplementary audit of the financial statement of FCI Aravali Gypsum & Minerals India Limited for the
styear ended 31 March, 2015 and as such have no comments to make under section 143(6) (b) of the Act.
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
Annexure-IV
Form No. MGT-9
Extract of Annual Return for the year ended on 31.03.2015
Pursuant to section 92(3) of the Companies Act, 2013 and Rules 12 (1) of the Companies
(Management and Administration) Rule, 2014.
1. Registration and other details
i. CIN: U14105RJ2003GOI018093
ii. Registration date: 14.02.2003
iii. Name of the Company: FCI Aravali Gypsum and Mineral India Limited
iv. Category/ Sub category of the company: Private Limited Company
v. Address of the registered office and contact details: Mangu Singh Razvi Marg, Paota B Road, Jodhpur
vi. Whether Listed Company Yes/ No: No
vii. Name, address and contact details of Registrar and Transfer Agent: Not applicable
2. Principal business activities of the company: All the business activities contributing 10% or more of the total turnover of the company shall be stated:-
Date wise increase/Decreasein promoters shareholdingduring the year specifyingthe reasons for increase/decrease (e.g. allotment/transfer/bouns/sweat equitetc.)
va'kksa dhla[;k
dEiuh dsdqy v'ka %
va'kksa dhla[;k
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Top Ten
Shareholders
Shareholding at thebeginning of the year
No. ofShares
Cumulative Shareholdingduring the year
% of total sharesof the Company
No. ofShares
% of total sharesof the Company
At the beginning of the year
Date wise increase/Decreasein promoters shareholdingduring the year specifyingthe reasons for increase/decrease (e.g. allotment/transfer/bouns/sweat equitetc.)
At the end of the year
1.
v. funs'kdkas vkSj izeq[k izca/kdh; dfeZ;kas dh fgLlsnkjh v. Shareholding of Directors and Key Managerial Personnel
Date wise increase/Decreasein promoters shareholdingduring the year specifyingthe reasons for increase/decrease (e.g. allotment/transfer/bouns/sweat equitetc.)
38
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
5. Indebtness :Indebtness of the company including interest outstanding/
accrued but not due for payment.
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SecuredLoans
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Deposits TotalIndebtness
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Change inIndebtnessduring thefinancialyear l Addition l Reduction
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,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
provisions containedin section 17(1) ofthe Income TaxAct, 1961b. Value of perquisitesu/s 17(2) or the incometax Act, 1961c. Profit in Lieu of salaryu/s 17(3) of the incomeTax Act, 1961
iii. Remuneration to KYM other than MD/Manager/WTD
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41
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
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42
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
izcU/k ppkZ ,oa fo'ys"k.k fjiksVZIntroduction
Industry Structure & Development
Strength, Weakness, Opportunities and threatsStrength :
Weakness
The company FCI Aravali Gypsum & Minerals India limited (FAGMIL) was established in 2003 as a result of demerger from Fertilizer Corporation of India Limited (FCIL). Earlier the company was a unit of FCIL known as Jodhpur Mining Organization (JMO) which was engaged in mining of mineral gypsum for captive use in Sindri Unit. After demerger FAGMIL continued its operation of mining and marketing of mineral gypsum as well as agriculture grade gypsum.
Mineral Gypsum is used mainly as a sulphur nutrient to the soil and for reclamation of sodic soil to fertile and also as an input raw-material in cement manufacturing. Over the years it reclaimed lacs of acres land in UP, Punjab and Rajasthan.
During the year under review the company has responded to challenges by enhancing the customer focus and expanded its business by procuring profitable orders through efficient sales and prompt delivery. The company is optimistic about the long term opportunities while at the same time meeting the short term challenges. However there are many challenges that still need to be met.
There is a requirement ofabout 40 LMT per year mineral gypsum in India which are fulfilled by your company and RSMML. During the year 2014-15, RSMML produced and sold 18.53 LMT and 18.59 LMT respectively whereas our company have been able to produce and sale 10.26 LMT and 8.37 LMT respectively. This shows we are having 35% and 31% of market share in terms of production and sales respectively.
The gypsum market has been witnessing an upward growth trend for past few years. High qualities of material coupled with spirited workforce are core assets and major strength of your company. The research study of use of gypsum has fuelled the demand and opened the market in new state also. New mines will help to mitigate the demand and supply gap. Your company being a CPSE under the Ministry of Chemical and Fertilizers also carries on the mandate of the achieving Government's goal of becoming self-sufficient in producing the fertilizers.
Apart from that financial strength i.e. high net worth, zero debt, good work culture, brand image of quality product and core competence in gypsum mining are the more stars in strengths of the company.
Remote location and depletion of the mines, inconsistence quality of the product are acting as deterrent in attracting and retaining the talent. Constraints in applying for new gypsum mining leases and delay in forest and environmental
dsUnz ljdkj us vius vf/klwpuk fnukad% 10-02-2015 ds }kjk ftIle dks fuEu Js.kh ds [kfutks dh Js.kh esa LFkkukUrfjr dj fn;k gS] ftlds dkj.k vU; O;fDr Hkh blds [kuu~~ dk vf/kdkj ik jgs gS ftlls dEiuh dks
volj %&
vfu"V %&
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'kadk vkSj O;kikfjd vfHk:fp %&
clearance affect the time schedule.
The gypsum industry has been the potential for reasonable growth in the recent years because of great demand in agriculture and cement sector but the depletion of gypsum in some mines could results cut the production giving a competitive edge to importers and illegal mine owners. However new mining leases could mitigate this risk to some extent.
The company is continuously working towards its long term standing vision of developing the production capacity by manufacturing of phosphoric fertilizers i.e. SSP. Apart from that the Company is also intending to diversify its mining activities into the field of other minerals also like Lime Stone, Dolomite, Rock Phosphate etc.
Apart from the above weakness the government's mining policies, Imported Gypsum, average age of employees, delay & risk in diversification Plan and competition to road side POP factories are the major threats to the company.
As a mining company it is subject to the extensive regulations surrounding health, safety and environmental issues. However the company tries best to fulfil all the requirements of the statutory obligations.
The company proposes to augment its production of gypsum from present level of 10.75 LMT to 12.25 LMT by next 2 years. As a part of business transformation exercise, It has also chalked out the plan for increasing the sales turnover by establishing the SSP unit at Chittorgarh, Rajasthan. Apart from above,the company is also exploring the potential future in extraction of potash from feldspar. The preliminary research on economic viability for extraction of potash from feldspar is under process. If it is found good, this would bring great success in the path of company's diversification process.
Future results including work program plan and schedule will be affected by change in market conditions especially from cement industries, regulatory developments and quality & quantity of material. The business of mining activity is highly speculative. There cannot be any perfect assurance towards quality and quantity (reserve) found in any mines. However your company continues to believe that managing risk is critical for its growth and sustenance. As such your company prepared a risk management plan for mitigation of controllable risk and lowering the impact of uncontrollable risk and monitoring the performance of the company keeping the view of both.
By its notification dated 10.02.2015, Central Government categorized the gypsum under minor mineral as against major mineral which allows others to participate in business of mining of gypsum and brought the company at competitive stage. Further 25 gypsum and 9 other mining leases become ineligible due to MMRD Amendment Act 2015 dated 12.01.2015 which hampered
Opportunities
Threats
Outlook for the future :
Risk and concerns :
44
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
the efforts of the company to increase its capacity level. The amendment also requires that if company intends to
mine gypsum from private land then it has to eitheracquire the land or take the prior registered consent of land owner,which are not possible in present scenario.
State Government has also given special power to AME/SME to grant mining lease of gypsum up to 10000 MT per year to anybody for supply to POP industries and agriculture use. This enables the others to participate in the business and deplete the customer base of the company.
Further good quality of gypsum is being imported by cement industries, which is deteriorating the market position of the company.
However it also relaxed the condition to some extent by which the company can participate into auction of other minerals along with gypsum which were not possible under old regime.
Your company has well established internal control system with nature and size of its operation. Internal audit function of your company has been entrusted to well experience person. The internal audit reports submitted by the auditor are discussed with Chairman & Managing Director at first instance and then submitted to the Audit committee for its review, analysis and advice to further strengthen the internal control system covering all material controls, financial controls, compliance and risk management system. Action taken reports on observations of audit committee on internal audit report are regularly submitted to Audit Committee.
Details on financial and physical performance are given in Directors report.
Details on Human resources, industrial relation and talent management issues are given in Directors report.Environmental conservation, Sustainable Development, renewal use of energy and R& D issue :Environmental conservation, Sustainable Development, renewal use of energy
The company is committed towards protection of environment and it is reflected in all its activities, product and services, providing safe and healthy working environment to all stakeholders. Strict compliance with safety rules and procedures is ensured in all the mines and a close monitoring is made in this regard. In conformity with this concern for environment, the company is also committed to sustainable development with environment friendly projects forming part of MOU with administrative ministry. The Company is regularly giving water to sapling planted nearby mines to develop the green belt. The Company has installed an environment monitoring system to measure the level of noise, water & air pollution. At different interval of time, the environment status is measured and constant
Internal control systems and their adequacy :
Analysis of finances and operations :
Human resources, industrial relation and talent management issues :
45
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
efforts are made to control the pollution. The Company commissioned the water sprinkling system to control & suppress the dust. Apart from the above, periodically medical check-ups are conducted for employees engaged at mines sites. Mined out land are rehabilitated for cultivation by plantation of saplings.
Seminars on safety are organized to educate the workers. A safety & Mines Environment and Minerals Conservation week was also observed.
The employees and casual labours both have been provided with safety equipments like helmet, safety shoes, goggles, dust-mask etc. The electric/ oil hazardous mining area have been provided with fire extinguishers systems, siren system in case of emergency. Mohangarh Mines has been equipped with ambulance for the employees in case of emergency.
The company does not have in house research and development facility but time to time it undertakes the job of research activity through various recognized universities/ Institutes. During the year Rs. 28.87 lakh was spent on following research jobs;1. Research on direct application of low grade rock
phosphate in Bihar/West Bengal/Odisha Kerala through agriculture universities (2ndyear interim report of Khariff season).
2. The Economic viability study on extraction of Potash from Feldspar (2ndyear interim report)
3. Research study on direct application of usage of mixture of gypsum, Feldspar/ Gluconite, Low grade rock phosphate, cow dung, through agriculture research institute (2nd year interim report). The country is lacking the Phosphoric and Potasic
fertilizers which are essential elements for the growth of the plants. From the above mentioned R&D projects, the company, on the one hand, would be able to explore the possibility of extracting the Potash from feldsapar thereby would be able to save the valuable foreign exchange of the country and on the other hand it would be able to extend the benefits derived from R&D activities to farmers by providing them phosphoric fertilizers and gypsum at low cost.
About 4.50 lakh ha land is sodic land in Bihar. This sodic land may be converted into fertile as the result of R&D activity in this regard is positive.
As a part of society, the company undertakes socio economic and community development programs to promote education, training and improvement of living conditions in villages located in the vicinity of the mines. For this your company developed a CSR scheme and makes provision by transferring its profit every year. This year Rs. 80.30 lakh (previous year Rs. 90.40 lakh) against target of Rs. 77.56 Lakh was spent on promoting education, construction of community centres, making
R& D issues
Social responsibility issues for the company (CSR)
46
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
dEiuh dh vf/kdÙkj [kkus nwjLFk {ks=ks esa fLFkr gSa] vr% bu {ks=ksa esa izkFkfed f'k{kk] LokLF;] is;ty] oujksi.k vkfn dh lqfo/kk miyC/k djokus o yksxks dh lekftd fLFkfr esa lq/kkj ds fy, iz;Ru fd;k tkrk gSaA bl lEcU/k esa vuqlwfpr tkfr@vuqlwfpr tutkfr@vU; fiNM+k oxZ o fodykax Nk=ksa vkSj f[kykfM;ksa dks Nk=o`fÙk iznku dh tkrh gSaA vr% tks/kiqj] ckM+esj o eksgux<+ ds fofHkUu jktdh; fo|ky;ksa esa QuhZpj dh O;oLFkk dh xbZA blds vfrfjDr eksgux<+] ckM+esj] chdkusj] lwjrx<+ o jkeflagiqj esa ihus ;ksX; ikuh o I;kÅ dh O;oLFkk dh xbZ ,oa eksgux<+ [kku lewg esa lkeqnkf;d Hkou dh LFkkiuk dh xbZA dEiuh us lwjrx<+ ds jktdh; ek/;fed fo|ky;ksa esa Ldwy ds dejks dk fuekZ.k djok;k,oa lwjrx<+] chdkusj] eksgux<+ esa fofHkUu izdkj ds dkS'ky fodkl dk;ZØe vk;ksftr fd;sA
dEiuh us vklikl ds xkaoks esa e`nk ijh{k.k ds fy, ,oa pfyr e`nk ijh{k.k iz;ksx'kkyk LFkkfir dh gS] ftlesa fdlkuks dks fofHkUu tyok;q o ifjfLFkfr;ks esa cks;s tkus okyh Qlyks vkSj mlesa iz;qDr [kknks ds ckjs esa tkudkjh nh tkrh gSA
dEiuh }kjk dh xbZ igy %&
available drinking water facilities, construction of classrooms and toilets and establishing solar power pack.
As most of the mines of your company are located in remote areas, therefore various steps, like primary education, health, drinking water, etc, were taken up for improving the social conditions of people in these areas. In this regard financial assistance in form of scholarship is being given to meritorious students of SC/ST/ OBC/disabled and sports person. The various Government schools at Jodhpur, Barmer, Mohangarh were given furniture. Drinking water facilities were made available in Mohangarh, Barmer, Bikaner, Suratgarh and Ramsinghpur group of mines and Community Centres were constructed at Mohangarh group of mines. The company also constructed class rooms for Government Middle school at Suratgarh and organized various types of skill development programme at Suratgarh, Bikaner and Mohangarh.
The Company also installed a mobile soil testing van for testing the soil of villages near by its mines to make the farmers aware about the type of crops which could be sown in that climatic conditions and for that what type of fertilizers are required.
Initiatives undertaken by company :
47
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
ToThe Members,of FCI Aravali Gypsum & Minerals India Ltd.
We have audited the accompanying financial statements of FCI ARAVALI GYPSUM & MINERALS INDIA LTD (“the company”),which comprise the Balance Sheet as at 31st March 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.
The Company's Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company's Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements, give the information required by the Act in the manner so required and give a
Report on the Financial Statements
Management's Responsibility for the Financial Statements
Auditor's Responsibility
Opinion
48
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
true and fair view in conformity with the accounting principles generally accepted in India;a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2015;b) in the case of the Statement of Profit and Loss, of the Profit for the year ended on that date; andc) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.
1. As required by the Companies (Auditor's Report) Order, 2015 (“the Order”) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order2. As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books c) As per the information and explanations given to us, the company has no branch office(s). Hence, no requirement to consider report of branch auditor and dealt with it in preparing our report.d) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.e) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.f) In our opinion, there is no such observation which may have adverse effect on the functioning of the company.g) Section 164(2) of the Act is not applicable as per notification dated 05.06.2015.h) There is no qualification, reservation or adverse remark relating to the maintenance of accounts and other matters connected therewith.i) The company has adequate internal financial control system in place and the operating effectiveness of such controls.j) With respect to the other matters to be included in the Auditor's Report in accordance with rule 11 of Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements vide Note No. 26.ii. The Company did not have any long-term contracts including derivatives contracts for which there were any material f o r e s e e a b l e losses.iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.3. The details as required under the directions/sub directions issued by the C&AG of India under section 143(5) of the Companies Act, 2013 are attached in Annexure 1 & Annexure 2.
CharteredAccountants
M. No. 401467Place: New Delhi
Date: 1st July, 2015
Report on other Legal and Regulatory Requirements
For M. Parashar & Company
F.R.N. 110954C
(Kuldeep Jangid) Partner
49
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
x- dsl- la- MACT07&08] nq/kZVuk nkok ds vf/kdkj U;k;ky; tSlyesj esa tuojh 2008 ls yfEcr
/k- dsl- la- 26@14 vfrfjDr ftyk U;k;ky;] ckM+esj esa yfEcr
M+- dsl- la- 452@2014 tks/kiqj mPp U;k;ky; esa yfEcr
Annexure -1Directions for the year 2014-15.1. If the Company has been selected for disinvestment, a complete status report in terms of valuation of Assets (including intangible assets and land) and Liabilities (including Committed & General Reserves) may be examined including the mode and present stage of disinvestment process.” The Company has not been selected for disinvestment during the year under audit.2. Please report whether there are any cases of waiver/ write off of debts/loans/interest etc., if yes, the reasons thereof and the amount involved. The Company has write off Rs. 31,75,232/- against debtors There are no cases for waiver /write off of interest etc. during the year under audit.3. Whether proper records are maintained for inventories lying with third parties & assets received as gift from Govt. or other authorities. Proper records are maintained for inventories lying with third party and no asset has been received from Government or other authorities.4. A report on age-wise analysis of pending legal/ arbitration cases including the reasons of pendency and existence/ effectiveness of a monitoring mechanism for expenditure on all legal cases (foreign and local) may be given
1. Case No. 63/2005, is pending before the Hon'ble High Court, Jodhpur since 2005. (M/s Aanav Constructions)
2. Case No. 76/2007 is pending with Hon'ble Civil Judge Court, Aligarh for revision.
3. Case No. MACT No. 07-08, is pending before the Civil Procedure- Authority of Motor Accident Claim, Jaisalmer since Jan., 2008.
4. Case No. 26/14 is pending before Additional District Judge, Barmer
5. Case No. 452/2014 is pending before Rajasthan High Court, Jodhpur Bench.
Brief details of the above mentioned cases is as follows:
Ø-la- dsl ua- o"kZ LoHkkofiNyhlquokbZ
Expenditure
2014&15yEcu dk
dkj.k
d`rs % ,e-ijk'kj ,.M dEiuhlunh ys[kkdkj
¼dqynhi tkaxhM+½QeZ iath- la[;k 110954C
lnL; la[;k% 401467
1- 232@199576@2007
4-
5-
26@14
452@2014
3- MACT No.07&08
20 o"kZ flfoy
flfoy
flfoy
eksVj xkM+hvf/kfu;e
7 o"kZ
1 o"kZ
1 o"kZ
22-3-2014
5-3-2009
29-5-2015
11-05-2015
ugha
ugha
26000
51000
dksVZ dsle{k izLrqr
2- 63@2005 flfoy10 o"kZ ugha ugha ugha
ugha
ugha
ugha
fnukad% 01 tqykbZ] 2015LFkku% ubZ fnYyh
Expenditure2014-15
S.No. Case No. AgeNatureof Case
Latesthearingheld on
Reasonsfor
pending
1. 232/1995
2. 63/2005
76/2007
3. MACT No.07-08
4. 26/14
5. 452/2014
For M. Parashar & Company
F.R.N. 110954C (Kuldeep Jangid)
CharteredAccountants
Partner M. No. 401467
Place :Date :
New Delhi1st July, 2015
20Yrs.
10Yrs.
07Yrs.
01 Yr.
01Yr.
Civil
Civil
Civil
Civil
MV Act
22.3.2014
NIL
5.3.2009
29.5.2015
11.5.2015
NIL
NIL
NIL
26000
51000
It is underthe Purview
of court
-do-
-do-
-do-
-do-
50
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
Sub-Directions under section 143(5) of Companies Act 2013 for the year 2014-15.
On the basis of the Books of accounts of the Company, the reply to the following questions and/or information may be supplied:-1. Land
Whether the Company has clear title/lease deeds for freehold and leasehold land respectively? If not, please state the area of freehold and leasehold for which title/lease deeds are not available.
As per the opinion obtained from an Advocate appointed by the management dt. 20.06.2013, the title of 4 pieces of lands in possession of the Company are clear, the registration formalities are in process for an area of 1337.76 sq. meters situated at Plot No 175 & 176, Transport Nagar, Anganva Village, Jodhpur (allotted by Jodhpur Development Authority).
Apart from above, payment for following two pieces of land has been made by the company, during the year:-a. Land admeasuring 11.01 ha in village Pandoli, Distt. Chittorgarh for installation of SSP plant. The registration formalities have been completed and taken possession of land.b. Land admeasuring 1560 sq. mtrs. at Vivek Vihar, Jodhpur for construction of office building was allotted by Government of Rajasthan through JDA. Possession of the land taken but the registration formalities are in process.2. Confirmation of balances(i) Whether amount of (a) bank balances (b) trade receivables
(c) trade payables (d) loans and advances for which third party confirmation was not made available has been reported?
(ii) Where such balance has been confirmed by respective parties, whether it varies widely from the amounts reflected under respective heads in the financial statements, and if so, difference to be disclosed.
(iii) Bank Balances have been confirmed in writing by all the banks. Letters have been issued by the company to all the parties to confirm the balances of trade receivables, trade payables and loans & advances directly to statutory auditors. However, most of the balances have been recovered or adjusted subsequently in respect of receivables and payables.
v) No difference has been found in confirmation of balances. In most of the cases the balance have been realized or adjusted.
3. Reconciliation of depositsWhether the deposits/advances made by the Company to
the Customs, Excise, Income tax, Sales tax (VAT), Service tax and other authorities have been verified and reconciled with the respective authorities?The deposits with Statutory Authorities have been reconciled. 4. Employee Benefits
51
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
ekU;rkvksa tSls NwV dh nj] Hkfo"; esa ykxr o`f)] ewR;q nj dks /;ku esa j[krs gq,] LorU= :i ls fd;k tk,A
dEiuh us Hkkjrh; thou chek fuxe ls ifjHkkf"kr ykHk ;kstuk yh gSA ftldk ewY;akdu dk dk;Z Lo;a thou chek fuxe ls djkrh gS ,oa mls gh ys[kks esa lekesfyr fd;k tkrk gSA dEiuh ds }kjk LorU= :i ls dksbZ ewY;kadu ugha djk;k tkrk A
¼5½ fuos'k %&
lh-th-,l@,l-th-,[email protected]@fMcsapj ls lacaf/kr fofu;ksx] dEiuh ds LokfeRo esa HkkSfrd ;k Mh eSV :i ls miyC/k gS ;k ugha rFkk dEiuh dh ys[kk iqLrdks esa bl dqy jkf'k dks crk;k x;k gS ;k ugh \
dEiuh us ckW.M@fMcsapj vkfn esa dksbZ fuos'k ugha fd;k gSA
Ñrs ,e- ijk'kj ,.M dEiuh lunh ys[kkdkj
QeZ iath- la[;k 110954C
¼dqynhi tkaxhM+½lnL; la[;k% 401467
fnukad% 01 tqykbZ] 2015LFkku% ubZ fnYyh
Independent verification may be made of information/inputs furnished to Actuary, viz number of employees, average salary, retirement age and assumptions made by the Actuary regarding discount rate, future cost increase, mortality rate, etc for arriving at the provision for liability of retirement benefits, viz gratuity, leave encashment, post-retirement medical benefits etc.
The Company has taken defined benefit plan from LIC. Company is taking valuation done by LIC for accounting of retirement benefits. No Independent verification has been carried out by the company.5. Investments
Whether the titles of ownership in respect of CGS/ SGS/Bonds/Debentures etc. are available in physical/demat form and these, in aggregate, agree with the respective amounts shown in the Company's books of accounts?
There are no investment of the company in Bonds/ Debentures etc.
For M. Parashar & Company
F.R.N. 110954C
(Kuldeep Jangid) Partner
CharteredAccountants
M. No. 401467
Place: New DelhiDate: 1st July, 2015
ANNEXURE REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING “REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS” OF OUR REPORT OF EVEN DATE ON THE ACCOUNTS OF FCI ARAVALI GYPSUM & MINERALS INDIA LIMITED FOR THE YEAR ENDED MARCH 31, 2015
(i) (a) Whether the company is maintaining proper records showing full particulars, including quantitative details and situation of Fixed Assets:
FCI ARAVALI GYPSUM & MINERALS INDIA LTD has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets.
b) Whether these Fixed Assets have been physically verified by the management at reasonable intervals, whether any material discrepancies were noticed on such verification and if so whether the same have been properly dealt with in the books of accounts.
The Fixed Assets of the company are physically verified by the Management. As per the information given by the Management, no material discrepancies were noticed during such verification.
(ii) (a) Whether physical verification of inventory has been conducted at reasonable intervals by the management.
Physical verification of inventory has been made at reasonable
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
intervals.(b) Are the procedures of physical verification of inventory followed by the management reasonable and adequate in relation to the size of the company and the nature of its business if not the inadequacies in such procedures should be reported.
The procedure of physical verification of stock followed by the management is reasonable and adequate in relation to the size of the company and nature of its business.(c) Whether the company is maintaining proper records of inventory and whether any material discrepancies were noticed on physical verification and if so, whether the same have been properly dealt with in the books of account.
The Company maintains proper records of inventory. No discrepancies noticed on verification between the physical stocks and book records. (iii) Whether the company granted or taken any loans, secured or unsecured to the companies, firms or other parties covered in the register maintained under section 189 of the Companies Act. If so,
The company has not granted any loans, secured or unsecured to the companies, firms or other parties covered in the register maintained under section 189 of the Companies Act as such paragraph (iii) (a) & (b) are not applicable to the company. (iv) Is there an adequate internal control procedure commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods and services. Whether there is a continuing failure to correct major weakness in internal control system.
In our opinion and according to the information and explanations given to us there are adequate internal control procedures commensurate with the size of the company and nature of the business in respect of purchase of inventory and fixed assets and for the sale of goods and services.(v) In case the company has accepted deposits, whether the directives issued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act and the rules framed there under, where applicable have been compiled with? If not, the nature of contravention should be stated; if an order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal, whether the same has been complied with or not?
The company has not accepted any deposits from the public within the meaning of sec. 73 to 76 of the Companies Act, 2013 read with the directives issued by the Reserve Bank of India as such the clause (v) is not applicable to the company.(vi) Where maintenance of cost records has been specified by the Central Government under sub-section (1) of section 148 of the Companies Act, whether such accounts and records have been made and maintained.
The company has maintained cost records as prescribed under sub section (1) of section 148 of the Companies Act 2013.(vii) (a) Is the company regular in depositing undisputed
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
statutory dues including Provident Fund, Employees State Insurance, Income-Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, value added tax Cess and any other statutory dues with the appropriate authorities and if not, the extent of the arrears of outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the date they became payable, shall be indicated by the auditor.
According to information and explanations given to us, the company is depositing with appropriate authorities undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, cess and other Statutory dues to the extent applicable to it and there are no arrears outstanding for more than six months.(b) In case dues of sales tax/income tax/ custom tax/wealth tax/excise duty/cess/Service Tax have not been deposited on account of any dispute, then the amount involved and the forum where dispute is pending may please be mentioned. (A mere representation to the Department shall not constitute the dispute).
There were no disputed amount payable in respect of Income Tax, Wealth Tax, Sales Tax, Service Tax Custom Duty and Excise Duty, which were outstanding for more than six months.(c) Whether the amount required to be transferred to investor education and protection fund in accordance with the relevant provisions of Companies Act and rules made there under has been transferred to such fund within time.
According to information and explanations given to us no amount is required to be transferred to Investor Protection Fund pursuant to provisions of Companies Act.(viii) Where in case of a company which has been registered for a period not less than five years, its accumulated losses at the end of the financial year are not less than fifty percent of its net worth and whether it has incurred cash losses in such financial year and in the financial year immediately preceding financial year so;.The clause (viii) is not applicable to the company.(ix) Whether the company has defaulted in repayment of dues to a financial institution or bank or debenture holders? If yes, the period and amount of default to be reported.This clause (ix) is not applicable to the company.(x) Whether the company has given any guarantee for loans taken by others from banks or financial institution, the terms and conditions whereof prejudial to the interest of the company are;
According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions.(xi) Whether term loans were applied for the purpose for which the loans were obtained.
Based on our audit procedures and on the information given by the management, we report that the company has not obtained any term loans during the year.
izca/kdks }kjk nh xbZ tkudkjh o vads{k.k izfØ;k ds vuq:i dEiuh us o"kZ esa
54
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
(xii) Whether any fraud on or by the company has been noticed or reported during the year, if yes, the nature and the amount involved is to be indicated.
Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.
For M. Parashar & Company
F.R.N. 110954C
(Kuldeep Jangid) Partner
CharteredAccountants
M. No. 401467
Place: New DelhiDate: 1st July, 2015
fdlh Hkh izdkj dk vof/k _.k ugh fy;k gSA
¼xii½ D;k o"kZ ds nkSjku dEiuh ij vFkok dEiuh }kjk dksbZ Hkh /kks[kk/kMh dks laKku esa fy;k x;k gS] ;fn gk¡ rks mldh izÑfr o jkf'k dks izdV fd;k tk,A
gekjh jk; esa ,oa nh xbZ tkudkjh ,oa ys[kk ijh{kk dh izfØ;k ds vk/kkj dEiuh ij vFkok dEiuh }kjk fdlh Hkh izdkj dk dksbZ Hkh /kks[kk/kMh dks laKku esa ugh fy;k x;k gS vkSj uk gh bldh fjiksVZ nh gSA
(a) The company is owned by Government of India and the entire share capital is held by the Hon'ble President of India.The authorized share capital of the Company is Rs.10 Crores consisting of 1,00,00,000 equity shares of Rs.10/- each since beginning and there is no change. There is no preference share capital. Out of the authorized capital, the number of equity shares issued were 7329800 @ Rs.10/- fully paid aggregating Rs.7,32,98,000/- in the year 2003-04 and no further issue of equity shares in subsequent years till 31.03.2015. All these shares are allotted to the Hon'ble President of India or his authorized nominees.(b.) Reconciliation of number of equity shares outstanding at the beginning and at the end of the year:-
v- dEiuh Hkkjr ljdkj ds LokfeRo esa gS vkSj bldh lEiw.kZ va'k iwath Hkkjr ds jk"Vªifr ds uke es gSA dEiuh dh vf/kÑr iwath #10 okys 1 djksM+ va'kks esa foHkkftr gS] ftldk dqy ewY; ̀10 djksM+ gSA dEiuh esa dksbZ Hkh vf/kekuh va'k ugha gSA mi;qZDr vf/kÑr iwath esa ls # 10 okys 7329800 lerk va'k o"kZ 2003&04 esa Hkkjr ds jk"Vªifr ds uke vFkok muds }kjk ukfer O;fDr;ksa ds uke esa fuxZfer fd;s x;s Fks tks fd iw.kZ nÙk gSA rRi'pkr 31-03-2015 rd dksbZ Hkh va'k fuxZfer ugha fd;s x;s gSAc- o"kZ ds vkjaEHk o var esa lerk va'k iwth dk lek/kku fooj.k %
fooj.k Particulars31-03-15 rdAs 31.03.15
31-03-14 rdAs 31.03.14
Number of Shares outstandingas at the beginning of the yearAdd : Number of shares allotted as fullypaid up bonus shares during the yearNumber of shares allotted during the yearas fully paid up pursuant to a contractwithout payment being received in cash.Number of shares allotted to employeespursuant to ESOPs/ESPsNumber of shares allotted for cashpursuant to public issue
Less :-Number of shares bought backduring the yearNumber of shares outstandingas at the end of the year
lHkh va'k Hkkjr ds jk"Vªifr vFkok muds }kjk ukfer O;fDr;ksa ds uke gSA The entire shares are in the name of the Hon'ble president of India & his nominees.
Ø-la-
va'k/kkfj;ksa dkuke
dEiuh esa va'kksadh la[;k
va'k/kkfjrkvksadk izfr'kr
S.No.
Name of theShareholder
Number ofShares held inthe Company
Percentage ofShares held
(f.) Shares reserved for issue under options and contractsj- fodYi ,oa Bsdks ds vUrxZr vkjf{kr va'k
fodYiksa ,oa Bsdksa ds vUrxZr dEiuh us dksbZ Hkh va'k fuxZfer ugha fd;k gS No Shares were reserved for option & Contracts
Details of contracts/options under whichshares reserved forissue
(g.) Commitments for sale of shares/disinvestmenty- va'kksa dh fcØh@fofuos'k esa izfrc)rk
va'kksa dh fcØh@fofuos'k ds fy, dEiuh us dksbZ Hkh iz;kstu ugha fd;k gSA Company has commitments for sale of shares or disivestment
S.No.
Class ofShares
Number ofShares
Particulars ofCommitments
Ø-la-
va'kksa dkoxZ
va'kksa dh la[;kizfrc)rkvksadk fooj.k
'k- rqyu i= dh frfFk ls fiNys ikap o"kks± ds nkSjku vkoafVr va'kksa dk o.kZu %& 'kwU; (h) The details of different kinds of shares allotted during the last 5 yearspreceding the balance sheet date are nil as given below :-
g-rqyu i= dh frfFk dh frfFk ij fdlh Hkh va'k ij dksbZ Hkh ns; jkf'k cdk;k u gSvr% dksb Hkh va'k tCr ugha fd;s x;s gS vkSj u gh izoZruh; izfrHkwfr ds fy, va'kksadks vkjf{kr fd;k gSA
1- lgefr ds vUrxZr fcuk udnh ds fuxZfer va'k
2- cksul va'k3- okil Ø; fd;s x;s va'k
Equity Shares allotted as fully paid up
to pursuant to contract without payment
being received in cash
Bonus Shares
Shares Bought Back
(i.) There are no calls unpaid, forfeited shares, or securities convertibleto Equity shares as on the date of balance sheet.
va'kks ds izdkj Type of Shares 2014-15 2013-14 2012-13 2011-12 2010-11 2009-10
Nil Nil Nil Nil Nil Nil
Nil Nil Nil Nil Nil Nil
Nil Nil Nil Nil Nil Nil
63
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The company has been transferring not less than 10% of Profit after Tax (PAT) to the General Reserve every year starting from 2003-04. Accordingly, during the year 2014-15, a 10% of PAT amounting to Rs. 353.67 Lakh (Previous Year Rs. 304.60 Lakh) has been transferred to the General Reserve.
From the year 2004-05 onwards, 70% of PAT after appropriation to dividend and dividend tax has been transferred to Development Reserve to take care of the needs of the expansion programmes/ Projects of the Company. Accordingly, during the year 2014-15, a 70% of PAT (Net of Dividend & Tax thereon) amounting to Rs.1690.73 Lakh (Previous Year Rs. 1369.83 Lakh) has been transferred to the Development Reserve.
1. The details of opening and closing balances in the reserves & surplus with additions/deductions adjustments during the year 2013-14 and 2014-15 are as given below :
o"kZ 2003&04 ls izfro"kZ dEiuh vius dj i'pkr ykHk dk 10 izfr'kr lkekU; lap; esa gLrkUrfjr djrh gSA pkyw o"kZ ds nkSjku lap; esa #- 353-67 yk[k ¼fiNys o"kZ #304-60 yk[k½ gLrkUrfjr fd;s x;s gSA
o"kZ 2004&05 ls ykHkka'k o ykHkka'k dj ds i'pkr ykHk dk 70 izfr'kr dEiuh izfro"kZ fodkl lap; esa Hkfo"; ds ifj;kstukvks ds fy, gLrkUrfjr djrh gSA rn~uqlkj dEiuh us o"kZ 2014&15 ds nkSjku #1690-73 yk[k ¼fiNys o"kZ # 1369-83 yk[k½ fodkl lap; esa gLrkUrfjr fd;s gSA
There are no deferred Tax Liabilities, However the deferred Tax Assets are recognised and disclosed at note No. 17.
dEiuh esa dksbZ Hkh vkLFkfxr dj nkf;Ro ugha gSA ijUrq 'kq) vkLFkfxr dj lEifr;ka uksV 17 ds vUrxZr fn[kkbZ xbZ gSA
(`)
(`)
(`)
uksV la[;k & 6 % vU; nh?kZdkyhu nkf;Ro Note - 6 : Other Long Term Liabilities
fooj.k Particulars As 31.03.15 As 31.03.14
The company has classified the following trade liabilities as Long term, based on the operating cycle of the Company which is 12 months. The details of Long Term Liabilities that are non current in nature and are as given in the table :-
dEiuh us fuEufyf[kr O;kikfjd nkf;Ro tks dEiuh dh 12 eghus dh lafØ; e.My ij v/kkfjr gS] nh?kZdkyhu O;kikfjd nkf;Roksa ds :i esa oxhZd`r fd;k gSA vpy LoHkko okyh nh?kZdkyhu nkf;Roksa dk o.kZu fuEu lkj.kh esa gS %&
(`)
(i) Trade payables :
(ii) Others :Long term liability for employee benefitsOther Long term liabilities
fnukad 31-03-2015 dks vU; nh?kZdkyhu nkf;Roksa esa :- 27-10 yk[k dk ek=kRed NwV ¼fnukad 31-03-2014 dks :- 27-10 yk[k½ 'kkfey gS tks fd fofHkUu xzkgd dks ns; gSAOther Long term Liabilities includes an on 31.03.2015 Rs. 27.10 Lakhs (as on 31.03.2014 Rs. 27.10 Lakh) towards quantity rebate payable to various clients / customers.
65
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
uksV la[;k & 7 % nh?kZdkyhu izko/kku Note - 7 : Long Term Provisions
fooj.k Particulars As 31.03.15 As 31.03.14
The company has classified the following as long term provisions. The details of which are as given in the followings table. The Long term provision is based on the estimation that the amount will not be spent in next 12 months form the date of Balance sheet.
114-39 yk[k½ o ` 178-37 yk[k ¼fiNys o"kZ ` 162-46 yk[k½ Øe'k odZ ijfeV o filkbZ esa gq, uqdlku ij vf/k'kqYd ds 'kkfey gSA
oS/kkfud ns;rkvks esa ` 2542-87 yk[k ¼fiNys o"kZ ` 2635-28 yk[k½ Hkwfe dj ds 'kkfey gSA
nh/kZ dkyhu _.k] foRrh; iV~Vks ij nkf;Ro] mikftZr,oa vuqikftZr C;kt] vfxze ij vk;] u pqdk;k x;k ykHkka'k] vkoaVu ds fy, izkIr vkosnu i= ds /ku ,oa mu ij vftZr C;kt] u pqdk;h x;h tek,] _.ki=ksa ,oa mu ij C;kt ds :i esa dEiuh ij dksbZ nkf;Ro ugha gSA
Payable related to Govt. Departments includes Rs. 597.47 lakhs (Previous year Rs.597.47 lakhs) being provision made as per the demand raised by DMG in respect of Kaoni 5 ha. Mines and Rs. 114.39 lakhs (Previous year Rs. 114.39 lakhs) towards production against working permits and Rs.178.37 lakhs (Previous year Rs. 162.46 lakhs) towards royalty on grinding loses etc.
Payable relating to statutory liabilities mainly includes Rs. 2542.87 Lakh (Previous year Rs. 2635.28 Lakh) towards Land Tax.
The liability related to current maturities of long term debt, finance lease obligations, interest accrued but not due & due on borrowings, income received in advance, unpaid dividends, application money received for allotment of securities & due for refund & interest accrued thereon & unpaid matured deposits & debentures & interest accrued thereon are NIL
67
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FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
uksV la[;k & 11 % vYidkyhu izko/kku Note - 10 : Other Current Liabilities
The short term provisions on account of employee benefits, Corporate Tax, dividend and dividend tax is as given in the table below.
deZpkjh dY;k.k] fuxe dj] ykaHkk'k ij dj ds fy, fuEu fofHkUu vYidkyhu izko/kku fd;s x;s gS %&
* Same for the year 2014-15 has been dealt with in Note :
25 (Other Current Assets)
The short term provision for employee benefit includes Rs.122.84 Lakh towards PRP pertaining to the years 2013-14 & 2014-15 as on 31.03.15 (previous year Rs. 159.72 Lakh pertaing to the years 2012-13 and 2013-14 as on 31.03.2014).
fooj.k Particulars As 31.03.15 As 31.03.14
(`)
1- deZpkjh dY;k.k ds fy, izko/kku Provision for to employees benefits
06- dEiuh ds ikl gehjk tSlyesj esa 25-10 ch/kk ¼41277-817 oxZ eh-½] jkeflagiqj Jhxaxkuxj esa 1-02 ch/kk ¼2780 oxZ ehVj½] o lwjrx<+ Jhxaxkuxj esa 10000 oxZ xt ¼8361 oxZ ehVj½ dh Hkwfe gS] ftu ij lHkh izfØ;k;s iwjh dh tk pqdh gSA
01. IMPAIRED ASSETS :
There are no impaired assets in the Company and the accumulated impairments are NIL.
02. ACQUISITION OF PPE THROUGH BUSINESS
COMBINATION
There are no plant, property and equipment (PPE) acquired by the Company through Business Combinations during the year and disclosure in this head are NIL.
3. DISPOSAL OF FIXED ASSETS :
During the year fixed assets having original value of Rs. 0.63 Lakh (previous year Rs. 2.77 lakh) with WDV of Rs. 0.08 Lakh (previous year Rs. 0.52 lakh) were disposed off for an amount of Rs. 0.06 lakhs (previous year Rs. 2.71 Lakh).
4. There is no lease hold property acquire by the Company as on Balance Sheet date.
5. Physical verification of Fixed Assets was carried out and no major discrepancies are noticed and the minor discrepancies have been reconciled and provided for.
6. Free hold lands measuring 25.10 Bigha (41277.817 Square Meters) at Hamira, District Jaisalmer, 1.02Bigha (2780 Square Meters) at Ramsinghpur, District Srignganagar and 10,000 Square Yard (8361 Square Meters) at industrial area of Suratgarh City Distt. Sri Ganga Nagar (Rajasthan), are in the possession of the Company and documentation is complete in all respects.
69
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FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
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70
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FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
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Depre
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Depre
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71
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
fooj.k Particulars As 31.03.15 As 31.03.14
(`)
uksV la[;k & 14 % iwathxr pkyw dk;Z Note - 14 : Capital Work in Progress
1.SSP Project : Up to 31-3-2015 an amount of Rs. 549.68 lakhs
was incurred towards cost of land admeasuring 11.01 ha.
acquired from State Government at Chittorgarh and other related
expenses, including TEFR study amounting to Rs. 6.01 lakhs,for
installation of Single Super Phosphate( SSP) plant.
2.White Cement Project : Up to 31-3-2015 an amount of Rs 3.12
lakhs (Up to prev year Rs.2.76 lakhs was incurred on TEFR
study) was spent towards installation of White Cement Plant in
the state of Himachal Pradesh, conducted by National Council for
Cement & Building Materials including other misc expenses.
¼ii½ vlqjf{kr&vPNs (ii) Unsecured - Considered Good
¼iii½ lafnX/k (iii) Considered Doubtful
¼iv½ ?kVkok % [kjkc ,oa lafnX/k vfxze ds fy, izko/kku (iv) Less : Allowance for Bad & Doubtful Advance
dqy ¼v½ Total (A)
¼c½ lqjf{kr tek (B) Security Deposits
¼i½ lqjf{kr & vPNs (i) Secured - Considered Good
¼ii½ vlqjf{kr & vPNs (ii) Unsecured - Considered Good
¼iii½ lafnX/k &tek, (iii) Doubtful Deposits
¼iv½ ?kVkok % [kjkc ,oa lafnX/k vfxze ds fy, izko/kku (iv) Less : Allowance for Bad & Doubtful Advance
dqy ¼c½ Total (B)
¼l½ lacaf/kr i{kks ls _.k ,oa vfxze (C) Loans and advances to related parties
¼i½ lqjf{kr & vPNs (i) Secured - Considered Good
¼ii½ vlqjf{kr & vPNs (ii) Unsecured - Considered Good
¼iii½ lafnX/k & ,Mokal (iii) Doubtful Deposits
¼iv½ ?kVkok % [kjkc ,oa lafnX/k vfxze ds fy, izko/kku (iv) Less : Allowance for Bad & Doubtful Advance
dqy ¼l½ Total (C)
¼n½ dEiuh ds funs'kdks] vf/kdkfj;ksa] Qeks±] futh (D) Loans and advances due by directors or
dEifu;ks ftlesa os funs'kd] lk>snkj] lnL; gS officers of the company or any of them either
,dy vFkok la;qDr :ils ns; _.k vFkok vfxze severally or jointly with others or by firms orprivate companies respectively in which any director is partner or a member.
¼i½ lqjf{kr & vPNs (i) Secured - Considered Good
¼ii½ vlqjf{kr & vPNs (ii) Unsecured - Considered Good
¼iii½ lafnX/k & vfxze (iii) Doubtful Advance
¼iv½ ?kVkok % [kjkc ,oa lafnX/k vfxze ds fy, izko/kku (iv) Less : Allowance for Bad & Doubtful Advance
dqy ¼n½ Total (D)
¼;½ vU; (E) Other
¼i½ lqjf{kr&vPNs (i) Secured - Considered Good
¼ii½ vlqjf{kr&vPNs (ii) Unsecured - Considered Good
¼i½ fuxe dj (i) Corporate Tax
¼ii½ vU; (ii) Other
¼iii½ eSV tek vf/kdkj (ii) MAT Entilement
¼iii½ lafnX/k (iii) Doubtful Advance
¼iv½ ?kVkok % [kjkc ,oa lafnX/k vfxze ds fy, izko/kku (iv) Less : Allowance for Bad & Doubtful Advance
dqy ¼;½ Total (E)
dqy tksM+ G.Total
56257745
0
56931
(56931)
56257745
0
1793956
0
0
1793956
0
0
0
0
0
0
0
0
0
0
0
0
799846
0
0
0
799846
58851547
46362745
0
56931
(56931)
46362745
0
1778956
0
0
1778956
0
0
0
0
0
0
0
0
0
0
0
0
799846
0
0
0
799846
48941547
vf/kdkj dh dqy jkf'k Total Amount of entitlement
?kVko % fiNys o"kZ /kj.k fd;k x;k Less : MAT Credit availed for previous year
eSV tek vf/kdkjh
?kVko % o"kZ ds nkSjku lek;ksftr jkf'k Less : MAT Credit availed During the ITR FY 2013-14
?kVko vxys 12 efguksa esa miyC/k Less : Recognised as current assets to the expected
eSV tek dks py lEifr;ksa ds :i esa to be MAT Credit available in next 12 months.
uksV la[;k 25 fn[k;k x;k gS (Note No. 25)
foÙkh; o"kZ 2014&15 ds la'kksf/kr izfrosnu MAT credit lapsed and availed the same in FY 2012-13
foÙkh; o"kZ 2012&13 ds nkSjku /kkj.k dh xbZ on Revision of Return During F.Y. 14-15
O;ixr eSV ØsfMV dh jkf'k
?kVko % lek;ksftr Less : Availed
tksM+ % o"kZ 2012&13 esa vlek;ksftr Add : MAT Credit less availed in FY
eSV tek vf/kdkjh 2012-13 Tax Audit
?kVko % o"kZ ds nkSjku miyC/k tek Less : MAT Credit available
vf/kdkj During the year
uksV la[;k 18 esa nh?kZdkyhu _.k Recognised as long term Loans &
,oa vfxze ¼vpy½ Advances (Note No. 18)
74
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
Secured capital advance considered good includes an amount of
Rs. 562.50 (Previous year Rs. 443.85 lakhs paid to JDA,
Jodhpur towards cost of land allotted to the company for its office
at Vivek Vihar, Jodhpur admeasuring 1560 sq. mtrs. Also in the
previous years an amount of Rs.19.78 lakhs paid to UIT, Jodhpur,
towards the cost of office cum godown site at Parivahan Nagar,
Industrial Area, Aanganwa Village, Jodhpur admeasuring
120'x120' (1337.76 Sq. Metres)). Other formalities of execution of
lease deed & registration are in process.
The MAT credit balance of Rs 578.80 lakhs (up to prev year
Rs.576.44 Lakh) was available for utilization in 2012-13 and
2013-14, Rs.554.69 lakhs and Rs.21.75 lakhs has been availed
in the year 2012-13 & 2013-14 respectively and the Balance of Rs
2.36 Lakhs has been availed in the revised Return for FY 2012-
13. This amount of entitlement has been bifurcated into long term
&short term as per details given below :-
lqjf{kr iwathxr vfxze esa dk;kZy; Hkou gsrq foosd fogkj ;kstuk esa
uksV la[;k & 19 % vU; vpy lEifÙk;k¡ Note No. 19 : Other Non - Current Assets
16684495
- 14686976
1997519
0
0
0
656312
- 590681
65631
0
4204391
1997519
0
65631
dqy Total 3615574 6267541
The balance in the account of Group Leave Encashment Scheme is Rs.144.28 Lakhs (Previous year Rs.166.84 Lakhs) out of this Rs. 133.76 Lakh (Previous Year Rs. 146.87 Lakh) is current liability and balance amount Rs. 10.52 Lakh (Previous Year Rs. 19.97 Lakh) is recognized as Other Non Current Assets. This fund is pursuant to the defined benefit, post retirement plans of employees, details of which are disclosed in the appropriate note on Employee Benefits of P&L Account. Refer note no.32 for more details
The value of Packing Materials amounting to Rs. NIL (Previous Year Rs. NIL ) have been recognised as Non-Current Inventory items which are not expected to be utilised in the next 12 months (Operating Cycle). In the previous year the non moving packing material has been sold and the provision made against this has been withdrawn. The value of Stores & Spares amounting to Rs. 6.56 Lakhs ( Previous Year Rs. 6.56 Lakhs ) have been recognised as Non-Current Inventory items which are not expected to be utilised in the next 12 months (Operating Cycle). Against non moving stores & spares of Rs.6.56 lakhs, a provision of Rs.5.90 lakhs was made in previous years in the books towards obsolescence / diminution in value.
The Company has neither invested in Trade Investments nor in Non-Trade Investments (Quoted or Un Quoted). There is no investment in equity instruments, preference shares, debentures / bonds, Mutual Funds, Govt. or Trust Securities. Therefore, the diminution in value of such instruments is NIL.
ewY; :- 6-56 ¼fiNys o"kZ :- 6-56 yk[k ½ dks vpy jgfr;ks ds :i esa uksV 19
esa of.kZr fd;k x;k gSA
Valuation of Inventory The valuation of the Packing materials and Stores and
spares is done on weighted average cost basis. Work in Progress is valued at cost or net realisable value whichever is lower. The Valuation of inventory of finished goods is done at cost or net realizable value whichever is lower and as certified by the management
Physical verification of Inventories was carried out during the year and discrepancies noticed were accounted for as given below.
i). Packing Material Shortages/ Excess Nil- ( Previous Year Nil.)ii). Finished Goods: There is no shortage of finished goods during the year.iii) Stores & Spares Shortages/ Excess Nil- ( Previous Year Nil.)The value of Non-Moving Packing Material amounting to
Rs. NIL (Previous year Rs. NIL ) and stores & Spares amounting to Rs. 6.56 lakhs (Previous year Rs.6.56 Lakh) are treated as Non-Current Inventory items & disclosed in Other Non-Current Assets In Note No. -19.
77
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
1. The company has not received any security deposits from its employees pursuant to the provisions of Companies Act, 2013
2. The company has paid entire dividend declared by AGM within the stipulated time and nothing is outstanding as unpaid and the account shows nil balance.
3. The company has not raised any money through Public Issue.
4. The company has no money kept in Escrow Account for payment of buyback consideration.
5. The Value of FDRs pledged with Banks as guarantees and other commitments to the Banks, as on the date of balance sheet are separately disclosed in the following Table.
1- dEiuh vf/kfu;e] 2013 ds izko/kku ds vuqlkj dEiuh us vius deZpkfj;ksa ls fdlh Hkh izdkj dk lqjf{kr tek izkIr ugh fd;k gSA
?kVko % cqjs o lafnX/k vfxze ds fy, izko/kku Less : Provision for Bad and Doubtful Advances
l- jsyos] [kuu vkSj ljdkjh izkf/kdj.kksa esa (C) DepositDeposit with Rly., Mining & Other Govt.Authorities
tek & vPNs Considered Good
tek & lafnX/k Deposits - Considered Doubtful
?kVko & izko/kku Less : Provisions
dEiuh ds funs'kdksa }kjk ns; _.k Debts due from Directors of the Company
o"kZ ds nkSjku fdlh le; vf/kdre 'ks"k Maximum balance due at any time during the year
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
37911
0
1952324
4232438
622267324069240
-24069240
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
17395
17506
1611073
7948494
959446824069240
-24069240
0
65854
0
0
6288527
60671
0
0
9655139
50000/-
50000/-
50000/-
50000/-
fooj.k Particulars As at 31.03.15 As at 31.03.14
(`)uksV la[;k & 25 % vU; py lEifÙk;ka Note No. - 25 Other Current Assets
80
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
fnukad 30 ekpZ 2007 ds v/;k;ns'k ls jktLFkku ljdkj us fnukad 1-4-2006 ls :- 55@& eS- Vu ds nj ls izR;kfir fodkl 'kqYd dks okil ys fy;k x;k gSA vr% bl ij fiNys ikap o"kksZ ds nkSjku cdk;k ̀ 511-13 yk[k jktFkku ljdkj ls ns; gSA ijUrq jktLFkku ljdkj dks yxkrkj ;kn fnykus ds ckotwn mudh vksj ls dksbZ vuqdwy izfrmÙkj izkIr ugh gqvk gSA vr% bl laca/k es o"kZ 2010&11 ds nkSjku mi;qZDr jkf'k ` 511-13 yk[k dk izko/kku fd;k gSA gkyakfd dfBu ifjJe ds mijkUr mi;qZDr jkf'k esa ls dqN jkf'k dEiuh vf/kdkj 'kqYd ,oa lsok'kqYd ds fo:) lek;ksftr djokus esa lQy jghA [kuu foHkkx us mi;qZDr jkf'k esa ls ` 240-69 yk[k iqjkus vf/kdkj] lsok 'kqYd o mu ij C;kt ds :i fofu;ksftr djrs gq, 'ks"k jkf'k ` 270-43 yk[k dks lek;ksftr djus ds fy, dEiuh dks vkKk ns nh Fkh ftldks dh fiNys o"kks± ds nkSjku lek;ksftr fd;k x;kA ijUrq dEiuh us ̀ 240-69 yk[k ds fy, Hkh okn izLrqr fd;k gS ftldks dh vxys 12 eghuks esa olwy gksus dh laHkkouk gSA
On 30th March, 2007 the Government of Rajasthan had withdrawn development charges at the rate of Rs.55/- per MT being levied on dispatches on Gypsum w.e.f. 01.04.2006 for which a claim, for the period from April 2006 to March 2007, amounting to Rs. 511.13 Lakh is pending with the Government of Rajasthan for last five years. Despite constant followup there is no favourable response from the State Government. Therefore, a provision of Rs.511.13 lakh was made in the books during 2010-11 on this account. However due to vigorous followup, we could get the sanction of the Govt. of Rajasthan to get the amount adjusted against the Royalty and service charges payable. However, the DMG authorities have appropriated Rs. 240.69 Lakh towards old dues against royalty and interest on royalty etc. after allowing the same, the Company adjusted Rs. 270.43 Lakh towards royalty in the previous years. The Company has contested their claim for Rs. 240.69 Lakh, which are expected to be realised within 12 months.
mikftZr ljdkj vuqnku vftZr Accrued Government
vkSj lokf/k tek ij ns; C;kt Interest Accrued on FDRS
iwoZnÙk O;; Prepaid Expenses
eSV tek ik=rk MAT Credit Entitlement
fuxe dj Corporate Tax
iwoZ o"kks± esa vfrfjDr tek Excess Deposited in Earlier Years
o"kZ ds nkSjku okfil@lek;kstu Refund/Adjustment during the Year
fiNys o"kks± esa vfrfjDr tek Excess Deposited in Previous Years
la'kksf/kr vkbZVhvkj 13&14 ij MAT Credit Availed on Revised
miyC/k eSV ØsfMV ITR AY 13-14
/kkjk 234 lh ds rgr C;kt Interest u/s 234 C
o"kZ ds nkSjku lek;kstu Adjustment during the Year
orZeku o"kZ esa djks dk izko/kku Provision for Taxation for Current Year
?kVko % o"kZ ds nkSjku vfxze dj dk Hkqxrku Less : Advance Tax paid during the Year
?kVko % cSadksa }kjk Hkstk x;k VhMh,l Less : TDS remitted by banks
?kVko eSV izkI; vf/kdkj Less : MAT Credit Availment
As at 31.03.15 As at 31.03.14
3241440
3241440
0
4943039
876724
236359
- 483692
0
5572430
186995694
173740000
17327384
0
4071690
3676487
435047
3241440
0
0
0
0
0
02014-15 2013-14
165451730
153100000
15107514
2187255
4943039
Total
1063250
67043459
1046837
0
0
5572430
4071690
78797666
0
57868543
1306946
0
3241440
0
4943039
67359968
81
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
FCI Arawali Gypsum &Minerals India Ltd.
ISO 9001BUREAU VERITASCertication
bl o"kZ izFke ckj ys[kkadu uhfr;ks esa cnyko ds dkj.k ` 10-63 dks mikftZr vuqnku ds mi ys[kks esa fy;k x;k gS ftls igys izkfIr ds vk/kkj ij lek;ksftr fd;k tkrk FkkA
o"kZ 2014&15 dh dj fu/kkZj.k vk; ij bl o"kZ ykxw dj dh njksa ds vuqlkj ̀ 1869-96 yk[k ¼fiNys o"kZ ̀ 1654-52 yk[k½ dks /kkjk 234 ch o 234 lh ds vUrZxr fuxe dj o ml ij C;kt ds :i ds fn[kk;k x;k gSA vfxze dj] C;kt dh vk; ij VhMh ,l o eSV tek vf/kdkj dh jkf'k Øe'k ̀ 1737-40-00 yk[k] ` 173-27 yk[k o 'kwU; ¼fiNys o"kZ Øe'k ` 1531 yk[k] `
151-08 yk[k o ̀ 21-87 yk[k½ dks bu izko/kkuksa ls lek;ksftr fd;k x;k gSA dj vads{k.k ds nkSjku o"kZ 2012&13 ds fy, eSV tek vf/kdkj dks ` 12091 ¼55469319&55457228½ ls vf/kd xzg.k dj fd;k x;k Fkk ftldks dh o"kZ 2013&14 ds nkSjku lek;ksftr fd;k x;k gSA
o"kZ 2013&14 dk la'kksf/kr izfrosnu ¼vkbZ Vh vkj½ tek fd;k x;k ftlds dkj.k ` 236359 miyC/k gq, ftldk iz;ksx dj fu/kkZj.k o"kZ 2014&15 ds vkbZ Vh vkj esa fd;k x;kA
During the year Rs. 10.63 lakhs has been recognised in the books towards accrued grants for first time owing to the changes in accounting policies on grants, which was hitherto considered on receipt basis now changed to accrual basis.
An amount of Rs.1869.96 Lakh has been provided towards Corporate tax and interest u/s 234B & 234C for the year 2014-15 (Previous Year Rs. 1654.52 Lakh) on the basis of assessable income at the tax rates applicable to the relevant assessment years. The amount of provision is adjusted against the advance tax, TDS on interest income & MAT credit Availment amounting to Rs.1737.40 Lakh, Rs. 173.27 Lakh & Rs Nil respectively (Previous year Rs. 1531.00 Lakh, Rs.151.08 Lakh & Rs. 21.87 Lakh respectively) .
During the course of Tax audit an amount of Rs. 12,091/- (Rs.5,54,69,319 - Rs.5,54,57,228) was found excess availed in the books of 2012-13 of MAT credit has been adjusted during the year 2013-14.
ITR for the AY 2013-14 was revised due to which an amount of Rs. 236359 as MAT Credit was available & the same was utilized while filing the return for the AY 2014-15
¼d½ vkdfLed nkf;Ro (A) Contingent Liabilities
nkosa Claims
dEiuh ij Bsdsnkjksa o vU;ksa }kjk pyk;s Claims on the Company not acknowledged
x;s nkosa tks fd U;k;ky; esa fopkj/khu gS as debts from contractors & other under
o ftUgsa dEiuh us _.k ugha ekuk gSA litigation before courts.
The Company is dealing in mining of a single mineral i.e. Gypsum and it is not an excisable goods, therefore the revenue from operation is shown at its sale value. There are no other operating revenues on account of sale of goods or services rendered or income on account of interest on securities, royalties and dividends. The revenue is recognised in accordance with the provisions of AS 9.
The revenue is received from two segments of single product of Gypsum i.e. from sale of Run of Mines (ROM) Gypsum and Agriculture Grade Gypsum Powder, the details of which are as given below:-
fooj.k Particulars As at 31.03.15 As at 31.03.14
(`)
izkIr gq;s Hkks"k :- 52-46 yk[k dh ts-Mh-th- to Rs. 52.46 Lakh, for which there is no
,Q-Vh- us dksbZ ekax ugha dh gS vr% mls demand from JDGFT, have been treated
laHkkfor nsunkjh ds :i esa ekuk x;k gSA as contingent liability.
2- ftyk [kfut QkmaMs'ku ¼Mh,e,Q½ vkSj (ii) Cess on Royalty payable to District
jk"Vªh; [kfut vUos"k.k VªLV ¼,u,ebVh½ Mineral Foundation (DMF) and National
dks jkW;YVh ij midj fnukad 12-01-2015 Mineral Exploration Trust (NMET) w.e.f.
ls ns; gSA MMDR ds izko/kkuksa ds vUrxZr 12.01.2015 As per the new provisions of
DFM rFkk NMET ds [kuu {ks= ds ykHk ds the MMDR DMF and NMET will be
fy, ljdkj }kjk LFkkfir fd;k x;k gS] established by the government for the
ftlds vUrxZr izR;sd [kku dks jkW;YVh benefit of mining sector where every
dh jkf'k dk 2 izfr'kr va'knku djuk gksrk miner is mandated to contribute an
gSA dEiuh us 12-1-2015 ls 31-3-2015 amount not exceeding the royalty and
rd dqy 266593-41 eS- Vu ftIlu dk 2% of royalty respectively. The company
mRiknu fd;k gSA ftl ij :- 27992308 will be liable for 266593.410 MT Quantity
dh jkW;YVh curh gS ,oa ftl ij 2 izfr'kr produced during 12.1.2015 to 31.3.2015
dh nj :- 559846 miq;ZDr dks"kksa esa nsuk and the amount equivalent to royalty
gksxkA comes to Rs. 2,79,92,308/- and 2% of which comes to Rs. 5,59,846/-
28552154 0
133097857 65113845Total
(`)
fooj.k Particulars
ftIlu dh fcØh Sale of Gypsum
1- d`f"k Js.kh 1. Agriculture Grade*
2- vkj-vks-,e- ftIle 2. ROM Gypsum
dqy TOTAL
307080.850
530395.900
837476.750
447289618
377073945
824363563
For the Year 2013-14Quantity
M.T.Amount
Rs.
380745.40
548515.42
929260.82
513365732
372561163
885926895
For the Year 2014-15Quantity
M.T.Amount
Rs.
Åij fn;s x;s d`f"k ;ksX; ftIle dh ek=k esa 5 eS-Vu o"kZ 2013&14 esa vuqla/kku ,oa fodkl ds mn~ns'; ds fy, foHkkx }kjk Lo;a mi;ksx esa fy;k x;k 'kkfey gSA
* The above quantity of Agriculture grade gypsum includes 5 MT used for departmental consumption for R&D purpose in the year 2013-14.
84
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
ISO 9001BUREAU VERITASCertication
uksV la[;k & 28 % vU; vk; Note No. - 28 Other Income
lkoZtfud cSadksa es vYidkyhu lokf/k tek ij : 670-43 yk[k ¼fiNysa o"kZ 578-68yk[k½s dks **vU; vk;** 'kh"kZd es n'kkZ;k x;k gSA fofHkUu cSadks us bl C;kt dh vk; ij ̀ 173-27 yk[k ¼fiNys o"kZ ̀ 151-07 yk[k ½ L=ksr ij dj dVkSrh dh gSA
The other Income constitutes mainly of interest received on short term deposits held with scheduled commercial Banks (PSU Banks) which includes interest accrued amounting to Rs. 670.43 Lakhs (Previous Year Rs. 578.68 Lakhs) upto the date of Balance Sheet and TDS deducted by banks on interest income amounting to Rs. 173.27 Lakh (Previous Year Rs. 151.07 Lakh).
The company neither has any investment in Equity Securities nor interest bearing securities, Mutual Funds, therefore there is no income on account of Dividends and Interest etc.,
The company is not having any Joint Ventures, Partnerships or any other controlled special purpose entities, therefore there is no income on account of "share of profits" from such arrangements.
vU; vk;ks dk fooj.k uhps of.kZr gS%& The details of Other Income are as given below :-
fooj.k Particulars For the Year 2014-15
(`)
1- vpy fuos'k ls vk; 1. Income From Non Current Investment
2- py fuos'k ls vk; 2. Income From Current Investment
3- vU; vk; 3. Other Income
& fdjk;ksa vkfn ls olwyh - Recovery of Rent etc.
& ifjogu 'kqYd ls olwyh - Recovery of Transport Charges
& vkokl _.k ij C;kt - Interest on Housing Loan
& vU; L=ksrks ls vk; - Income From Other Sources
& vU; L=ksrks ls vk; ¼mRikn 'kqYd½ - Income From Other Sources (Exc. Duty)
& vfrfjDr VSDl Hkqxrku ij C;kt - Interest Received on Excess Tax Paid
& tek ls vk; - Interest Received on Deposits
4- jn~nh eky dh fcØh ls vk; 4. Sale of Scrap Material
dqy ;ksx TOTAL
0
0
49135
9360
0
404322
0
0
172876518
0
173339335
0
0
135028
9360
0
492944
0
0
152280141
245290
153162763
For the Year 2013-14
85
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
dEiuh us [kuu dk;kZs ls lEcfU/kr fuEukfyf[kr O;; tSls vf/k'kqYd] lsok 'kqYd] Hkwfe dj] LokLF; ,oe~ i;kZoj.k ds lEcU/k esa fd;k gS tks fd fuEu gS%&
The Company being in Mining of Mineral Gypsum has incurred the following expenses on account of Cost of operations of Mines, Service Tax, Royalty, Service Charges, Land Tax, Health & Environmental Cess etc., as given below:-
lsok dj %&
vf/k'kqYd %&
jkT; ljdkj dks lsok 'kqYd %&
Hkwfedj %&
mi;qZDr lsok dj ftIle dh <qykbZ ifjogu ls lEcfU/kr gS ftlesa ftIle dks fofHkUu [kkuks ls jsyos lkbZfMax rd igqpk;k tkrk gSA
ftIle ifjogu ij lsok dj Service Tax on Transportation of Gypsum
vf/k'kqYd ¼izns'k ljdkj dks½ Royalty to State Govt.
izns'k ljdkj dks lsok 'kqYd Service Charges to State Govt.
ftIle ij i;kZoj.k vkSj LokLF; midj.k Environment & Health Cess on Gypsum
Hkwfedj Land Tax
HkkM+k o <qykbZ O;; Freight & Handling Charges
fofo/k [kuu O;; Misc. Expenses (Mines)
[kuu dh ;kstuk O;; Mining Plan Expenditure
fØ;kUo;u ds fy, lgefri= Fee For Consent to Operate & Establishment
i;kZoj.k O;; Environment Expenses
ftIle dk vf/kewY; ¼ubZ [kkusa½ Premium on Gypsum (New Mines)
dqy Total
?kVko % vuqla/kku O;; ds fy, gLrkUrj.k tek Less : Transfer Credit for R & D Expenditure
Net Expenditure
145554576
2001291
108099946
18505622
8374769
0
41300
294301
244719
624322
1518835
0
285259681
0
285259681
179823156
2097806
78084722
23144045
9292614
0
8728
385442
488072
419666
1631631
0
295375882
1080
295374802
SERVICE TAX :
ROYALTY :
SERVICE CHARGES TO STATE GOVT.:
LAND TAX :
The Service Tax stated above is to the extent leviable on transportation portion of various contracts for transporting gypsum within mine areas and upto the Railway Siding of the Company.
Royalty on Gypsum was paid to State Government @ 20% on Basic Price and the difference between Basic Price and value notified by IBM is recognised during the year Rs. Nil (previous year Rs.69.32 lakhs) in the Books
Service charges to State Government are recognised towards high purity of Gypsum at Mohangarh Mine @ of Rs. 50/- PMT.
In compliance to Government of Rajasthan's Gazette notification no. F.2(23) /vidhi/2 / 2006 dated 31.03.2006 a NIL amount (Previous year Rs. NIL) has been recognized in the books
For the Year 2013-14
86
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
ISO 9001BUREAU VERITASCertication
ls okil ys fy;k x;k gSA blesa igys Hkwfe dj dk fu/kkZj.k :- 2 izfr oxZ ehVj o cktkj ewY; ds 10% tks Hkh de gks ij fd;k tkrk FkkA gkaykfd bl o"kZZ jkT; ljdkj ls izkIr ekax i= ds vk/kkj ij bldk Hkqxrku fd;k x;k gSA
towards Land Tax for the year as the same has been withdrawn by the state government w.e.f. 01.04.2013 which was @ Rs.2/- per
2M or 10% of the market value of the land whichever is less. The payments have been made during the year as per the demand received from the State Government.
During the year 2014-15 an amount of Rs. 92.41(previous year 58.44 lakhs) lakhs had been paid to state government as per their demand from the provision.
87
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
The Company is doing open cast mining of mineral gypsum and most of the operations are outsourced, therefore, no raw material, power and fuel is consumed. However, the agriculture grade gypsum powder requires HDPE Bags whose details, including opening stock, closing stock and purchases are as given here under. The Consumption value of bags includes an amount of Rs. 518080/- being the value of 41718 no. of bags (previous year Rs. NIL) damaged as per the physical verification reports.
The Consumption of Stores and Spares is very minimal as shown below.
fooj.k Particulars For the Year 2014-15
d- dPps ekyk dh [kir A. Raw Material Consumed
[k- 'kfDr o b±/ku dh [kir B. Power & Fuel Consumed
x- iSfdax lkexzh izkjfEHkd jgfr;ka C. Packing Material Opening Stock
tksM+ % Ø; Add Purchases
?kVko % cSax dk foØ; Less : Sale of Oripol Bags
?kVko % vafre jgfr;k Less : Closing Stock
miHkksx Consumption
?k- LVkslZ ,oa Lis;lZ D. Stores & Spares
izkjfEHkd jgfr;ka Opening Stock
tksM+ % Ø; Add : Purchases
?kVko % LVkslZ dk foØ; Less : Sale of Store & Spares
?kVko % vafre jgfr;k Less : Closing Stock
miHkksx Consumption
M+ cSax fujh{k.k izHkkj E. Bags Inspection Charges
dqy ;ksx G. Total
?kVko % vU; dks lkexzh gLrkUj.k Less : Transfer Credit for VAT/Issue
ij ewY; o`f) dj tek of Materials to Others
1- iSfdax lkexzh 1. Tr. Credit for Pack. Material VAT Input Credit
2- vuqla/kku ,oa fodkl 2. Tr. Credit for Pack. Material R & D Expenditure
3- LVkslZ ,.M Lis;lZ 3. Stores & Spares
4- eky dh [kir 4. Tr. Credit For Material Consumed
dqy Total
'kq) miHkksx Net Consumption
0
0
22006277
61501261
83507538
0
11375744
72131794
672657
672331
1344988
0
734172
610816
460065
73202675
2930232
0
0
704366
3634598
69568077
(`)
0
0
11248026
96722452
107970478
361760
22006277
85602441
720875
771611
1492486
44787
672657
775042
751128
87128611
4455739
1018
14800
320890
4792447
82336164
Ñf"k ;ksX; ftIle esa iz;qDr cSx ij Hkqxrku fd;s x;s ewY; of/kZr dj dh jkf'k ̀ 29-30 yk[k ¼fiNys o"kZ ̀ 44-56 yk[k½ ls lkexzh dh [kir dh jkf'k dks de fd;k x;k gSA
The Consumption of material is reduced by the VAT credit Rs. 29.30 Lakhs (Previous year Rs. 44.56 Lakhs) availed on purchase of HDPE Bags consumed in the process of packing agriculture grade gypsum powder.
For the Year 2013-14
88
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
ISO 9001BUREAU VERITASCertication
uksV la[;k & 31 % rS;kj eky] pkyw eky dh jgfr;ksa esa ifjorZu Note No. - 31 Changes in Inventories of Finished Goods, WIP & Stock In Trade
rS;kj eky dks ykxr o olwyh ;ksX; ewY; nksuks es tks Hkh de gks] ij ewY;kadu fd;k x;k gSA ys[kk ekud 2 ds vuqlkj jgfr;ks es [kjhn dh ykxr] :ikarj.k ykxr o vU; ykxr ftl ij dh jgfr;ks dks orZeku LFkku rd yk;k tkrk gS] 'kkfey fd;s x;s gSA
The Stock of Finished goods is valued at the cost or net realisable value whichever is lower. The cost of inventories comprises of cost of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition according to AS 2.
(`)
fooj.k Particulars
ftIlu Gypsum
[kkuksa ij jgfr;k Stock at Mines
eksgux<+ Mohangarh
lwjrx<+ Suratgarh
chdkusj Bikaner
jkeflagiqj Ramsinghpur
dqy v- Total "A"
0
65500.500
52050.850
17814.200
1254.600
136620.150
For the Year 2013-14Quantity
M.T.Amount
Rs.
For the Year 2014-15Quantity
M.T.Amount
Rs.
0
10918494
14115009
2547431
349604
27930538
0
118428.450
90389.543
11349.000
42806.810
262973.803
0
19185475
15423504
3014367
4254973
41878319
izkjfEHk jgfr;k¡ OPENING STOCK
(`)
fooj.k Particulars
ftIlu Gypsum
[kkuksa ij jgfr;k Stock at Mines
eksgux<+ Mohangarh
lwjrx<+ Suratgarh
chdkusj Bikaner
jkeflagiqj Ramsinghpur
dqy v- Total "B"
dqy ¼v & c½ Net Total (A - B)
0
226083.320
79751.000
18433.200
1254.600
325522.120
- 188901.970
For the Year 2013-14Quantity
M.T.Amount
Rs.
For the Year 2014-15Quantity
M.T.Amount
Rs.
0
30105039
17973041
2820280
349604
51247964
- 23317426
0
65500.500
52050.850
17814.200
1254.600
136620.150
126353.653
0
10918494
14115009
2547431
349604
27930538
13947781
vfUre jgfr;k¡ CLOSING STOCK
89
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
As per Accounting Standard 15 "Employees Benefits", the disclosures as defined in the Accounting Standard are given below:
All the employees of the Company are covered under PF & Misc. Provisions Act and receive benefits from provident fund. The employee and employer each make monthly contributions to the plan equal to 12% of the salary. The fund is administered by the exempted Trust formed by company.
The Gratuity Act 1972 applies to the company and all the employees on the rolls of the company are covered. To meet the requirement of the gratuity liability the company has taken a Group Gratuity Scheme under defined benefit plan of LIC of India. Gratuity Plan guarantees a payment computed as per gratuity act till their superannuation date unless the employee exits the company on resignation or VRS. The company provides the gratuity benefit through annual contributions to a fund managed by the Life Insurance Corporation of India. Under this plan, the settlement obligation remains with the Company, although the Insurer administers the plan and determines the contribution premium required to be paid by the Company on actuarial basis. The details of the plan assets are furnished below in the note.
The company has taken a Group Leave Encashment policy with LIC of India to meet the liability of Encashable leave and the annual contributions to the fund which is managed by LIC, are included in the Salaries and Wages. The details of the plan assets are as given in the note below.
The Company got the approval from the Government of India vide order No.90/3/2010-HR-I dated 12th September, 2013 to go for a pension plan. Pension plan was taken from LIC of India during the year 2013-14 where 10% of the salary is being contributed to the scheme by the company and minimum 2% of salary is being contributed by the employees.
The company has a remuneration committee which fixes Performance Related Payment (PRP) in compliance with the guidelines of 2nd Pay Revision Committee and DPE guidelines and the amounts are disclosed separately in the table below.
90
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
ISO 9001BUREAU VERITASCertication
Voluntary Retirement Scheme (VRS) :
The Company has introduced Voluntary Retirement Scheme (VRS), with a view to prune the excess manpower in Non-Technical discipline, during the year 2008-09, 2009-10 and 2010-11, in two spells of one month each. VRS scheme was not offered to employees during the year 2013-14 and 2014-15.
n- LoSfPNd lsok fuo`r ;kstuk %&
vf/kD; vrduhdh ekuo'kfDr dks de djus ds m)s'; ls dEiuh us ,d&,d ekg ds nks pj.kks es o"kZ 2008&09] 2009&10] 2010&11 esa LoSfPNd lsokfuo`r ;kstuk izkjEHk dh A o"kZ 2013&14 o 2014&15 ds nkSjku dEiuh ds deZpkfj;ks ds fy, LoSfPNd lsok fuo`r ;kstuk ugha LohÑr dh xbZA
(`)
fooj.k Particulars As at 31.03.15 As at 31.03.14
osru vkSj ifjJe Salaries & Wages
HkÙks vkSj vuqykHk Perks & Allowances
dk;Z lEcfU/k Hkqxrku Performance Related Pay
dEiuh dk Hkfo"; fuf/k esa va'knku Co's Contribution to Provident Fund
lqewg mRiknu fuf/k esa va'knku Contribution to Group Gratuity Fund
dEiuh us fdlh Hkh lg;ksfx;ksa ds lkFk dksbZ O;ogkj ugha fd;k gSA The Company has no transactions with related parties.
¼1½ lg;ksfx;ksa ds lkFk O;ogkj (1) Related Party Disclosure
2- nsunkj o ysunku %&
3- py ifjlEifÙk;ka %&
4- ewY; of/kZr dj %&
5- lapkyu pØ %&
nsunkjksa o ysunkjksa ds 'ks"k dk iqf"Vdj.k ckdh gS] ysfdu vf/kdrj n'kkvksa esa mUgsa 31-032015 ls igys izkIr@ns fn;k x;k gSA
izcU/ku dh jk; esa py lEifÙk;kas] _.kksa o vfxzeksa dks lkekU; O;kikj dh n'kk esa izkI; ewY; ij fn[k;k x;k gS vkSj lHkh nkf;Roksa dk i;kZIr :i ls izko/kku fd;k x;k gSA LVkslZ ,oa Lis;lZ ds fy, vf/kD;@vizpfyr@xSj izxfr'khy enks esa uqdlku gsrq izca/kdh; vkadyu ds vuqlkj i;kZIr :i ls izko/kku fd;k x;k gSA
jktLFkku jkT; esa 01-04-2006 ls ewY; of/kZr dj dks ykxw fd;k x;kA ftlds fy, dqy ns; dj ij buiqV ØsfMV LohÑr fd;k tkrk gSA dEiuh us o"kZ ds nkSjku iSfdax lkexzh ij ̀ 29-30 yk[k ¼fiNys o"kZ ̀ 44-56 yk[k½ dh buiqV ØsfMV izkIr dh gSA
dEiuh dk lapkyu pØ 12 eghuksa dk gksrk gS o O;kikfjd izkI; o jgfr;ks ds py o vpy gksus dk oxhZdj.k Hkh mlh ds vuqlkj fd;k tkrk gSA
2. Debtors & Creditors
3. Current Assets :
4. Value Added Tax
5. Operating Cycle :
: Balances appearing as Debtors & Creditors are subject to confirmation. However, in most of the cases the amounts have been realized/paid after the year ended on 31.03.2015.
In the opinion of the Management, current assets, loans & advances have the value on realization in the ordinary course of business equal to the amount at which they are stated and all known liabilities have been adequately p r o v i d e d f o r. A d e q u a t e p r o v i s i o n f o r l o s s o n surplus/obsolete/non-moving items of stores/spares has been made based on Management's assessment.
: The Value Added Tax (VAT) has been made applicable in the State of Rajasthan w.e.f. 01.04.2006, for which the input credit is being granted against the total tax payable. The company during the year has availed an input credit of Rs. 29.30 Lakh (Previous year Rs. 44.56 Lakh) paid on packing material.
The Operating Cycle of the Company is 12 months and the current and non-current classification of inventories and Trade Receivables etc. was done accordingly.
I/We being a member(s) of.......................................shares of above named company, hereby appoint
Name :
Address :
E-mail ID :
Signature
or Failing him
Name :
Address :
E-mail ID :
Signature
As my/ our proxy to attend and vote (on poll) for me/ us on my/our behalf at the 12th Annual General
Meeting/ Extraordinary General Meeting of the company to be held on the 28.09.2015, at 4:30 p.m. at
Registered office of the company at Mangu Singh Razvi Marg, Paota B Road, Jodhpur and at adjournment
thereof in respect of such resolution as are indicated below:
104
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
ISO 9001BUREAU VERITASCertication
S.No. Resolutions For Against
1.
3.
2.
To receive, consider and adopt the audited Financial Statement of the Company for
the financial year ended March 31, 2015, the reports of the Board of Directors' and
Auditors' thereon
To appoint Auditor(s) and fix their remuneration and in this regard, to consider and if
thought fit, to pass the following resolution as an Ordinary Resolution
To declare dividend on Equity Shares of the Company
4.
5.
6.
To increase the Authorized Capital
To amend the Memorandum of Association
To amend the Articles of Association
Signed this ……............... day of …....………2015.
Signature of Member
Signature of Proxy holder(s)
Note: This form of proxy in order to be effective should be duly completed and deposited at theregistered office of the company not less than 48 hour before the commencement of the meeting.
,.Me l fI eutf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
ISO 9001BUREAU VERITASCertication
FCI Arawali Gypsum &Minerals India Ltd.
Dr. S. K. Das, CMD, leading awareness rally under Swachchh Bharat Abhiyan
A file photo of Company's Foundation Day
addressed by General Manager
Shri S. S. Shekhawat along with CMD, Dr. S. K. Das
,.Me l feI utf j Yh ly o bkj f.Mv ;Z-b kk fyv-h fel- VsMQ,
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