AUIIO SUINDRAM PLY & DOOR PRIVATE TIMITED R.O.-KHASRA NO. 217,356,357,360, 361, RAIPUR INDUSTRIAL AREA, GAGALHERI ROAD, BHAGWANPUR, ]ROO]RKEE-247 66L (UTTARAKHAND) CIN NO.:U2 02 11URZ 00 S pT COTZiZL PH N0.0133 2-232AW9, E-MAIL: [email protected]DIRECTOR.'S RIJPORT TO, .THE MEMBERS, AURO SUNDRAM PtY & DOOR PRI\/ATE LIMITIID Your Directors have pleasure in presenting their Annual Report on the business and operation of the Company and the Audited Statemrent of Accounts fcrr the financial year ended March it,Z}tg. FINANCIAT SUMMARY OI{ HIGHLIG ITS/ PERFORM/TNCE OF,THE COMPANY : The financial results for the year ended 31st March, 2Cr1B and the corresponding figures for the lzrst vear are as under:- nRu + .s**r,*u.rl.4;; **# 'ir ?l': ,i'd;:fl t;iF1 ":. ',;"'''' [Amgunt'iir RsJ ''****. P[Ariiount in Rs) Gross Income 97+,992,739 780,827,77I Expenses 853,278,487 659,078,46i Profit Before Interest and Depreci.ation LzI,714,252 t21,749,3O4 Finance Charges 14,039,355 10,639,833 Depreciation L7,L97,985 15,898,513 Net Profit Before Tax 90,482,912 95,210,958 Current Tax 30,000,000 22,501,277 Previous year adjustrnent of Income-Tax Net Profit After Tax 60,482,912 72,709,681 Earnings per Share (Basic) 60 73 Earnings per Share (Diluted) 60 73 InR BRIEF DESCRIPTTON OF THE COMPANY',S WOF.KING DURING THE YEAR/ STATE OF COMPANY'SAFFAIR -_.--.1 The Company is primarily engaged inL manufacturing and sale of Plywood, Door, Black Board, Flush Door, Veneer etc. The company occurred Profit:lfter tax during the year of Rs. 6,04,82,912/- as against the net profit of Rs, 7,27,09,68'J./- in the previous year. The Directors expect better result in the next year. No divided has been recommended try the board in this Financial Year, as company is intended in invcsting its resource in etthancing its production capacity as well as in technology up gradation.
Your Directors have pleasure in presenting their Annual Report on the business and operation ofthe Company and the Audited Statemrent of Accounts fcrr the financial year ended March it,Z}tg.
FINANCIAT SUMMARY OI{ HIGHLIG ITS/ PERFORM/TNCE OF,THE COMPANY :
The financial results for the year ended 31st March, 2Cr1B and the corresponding figures for the lzrstvear are as under:-
Profit Before Interest and Depreci.ation LzI,714,252 t21,749,3O4Finance Charges 14,039,355 10,639,833
Depreciation L7,L97,985 15,898,513
Net Profit Before Tax 90,482,912 95,210,958Current Tax 30,000,000 22,501,277
Previous year adjustrnent of Income-Tax
Net Profit After Tax 60,482,912 72,709,681Earnings per Share (Basic) 60 73
Earnings per Share (Diluted) 60 73
InR
BRIEF DESCRIPTTON OF THE COMPANY',S WOF.KING DURING THE YEAR/ STATE OFCOMPANY'SAFFAIR -_.--.1
The Company is primarily engaged inL manufacturing and sale of Plywood, Door, Black Board, FlushDoor, Veneer etc. The company occurred Profit:lfter tax during the year of Rs. 6,04,82,912/- asagainst the net profit of Rs, 7,27,09,68'J./- in the previous year. The Directors expect better result inthe next year.
No divided has been recommended try the board in this Financial Year, as company is intended ininvcsting its resource in etthancing its production capacity as well as in technology up gradation.
TISTING .:.:,::: ': ll, .!:': ' ;j:,1 .
Securities of the company are not listed2013.
PBP05[15 ;.1..' , , ..,' :i ,: :,,
on any feco1;nized stock exchange as per Companies Ac!
During the period under review the Company has not accepted any deposits under Section 72 readwith Companies (acceptance of Deposit) rules, 2014 from the public.
coNsERVAfiouorrrrlrnci;fiCqNor,obv4n$oRrprroN AND FoRErcw ExcHAr.rcE ourco:
(A) Conservation ofenergy: -
(D The steps taken or impact on conservatipn ol'energy;[ii) The steps taken by the company for utillzing alternate sources of energy;(iiiJ The capital investment on energy consefvation equipments;
(B) Technology absorption: -
[i) The efforts made towards technology absgrption;
Company has been constantly arctive in harrlessirrg and tapping the latest and best technologyin the industry.
(ii) The benefits derived like prroduct imprpvenrent, cost reduction, product development orimport substitution;
(iii) In case of imported ,".6pology (imporled d uring the last three years reckoned from thebeginning of the financial y,ear)-
[a) The details of technology imported;(b) The year of imporr;(c) Whether the tectrnology been fully afsorbed;td) If not fully absorbed, areas where pbso rption has not taken place, and the reasons
thereof: and(iv) The expenditure incurred,on Research fnd Development.
(C) Foreign Exchange Earnings and Outgo (In Rs.):
Particulars 2077- 18 2A16 - L7IarningsO,utgoaJRaw Materiaib)Capital GoodscJStores and SparePartsdJOther
293671/-
4,41,035.00
PARTICULARS OF LOANS, GUARAI{TEES OR INVESTMENTS:
, The company has not given any loans or guaranlees c:overed under the provisions of section 186of the Companies Act, 20L3.
The Company has an Internal Contrr:l System, cornmensurate with the size, scale and complexity ofits operations. The scope and authority of the Internal Audit (lA) function ir; defined in the FinancialRegulations of the Company. To maintain its objectivity and independence, the Internal Auditfunction reports to the Chairman oIthe Board.
'fhe Board of your Company is constituted by eminent experienced Directors. present Directors ofyour Company are:
The intervening gap betr,t'een the Meetings was i,vithin the period prescribed under tlieCompanies Act,20L3.
Board proposes no amount to transferr to the reserves and amount of Rs. 67.,799,085/- is proposerdto be retained in surplus
All related party transactions that rnrere enteted int,r during the financial year were on arm'slength basis and were in the ordinary course ol' the business. There are no materiallysignificant related party transactions made by the company with Promoters, Key ManageriilPersonnel or other designated persons which may h ave potential conflict with interest of thecompany at large,
The details of the related party tra.nsactions in Fornr AoC-2 are enclose <I as ,,Annexure A,,,
At the Annual General Meeting held on 30th september, 201,5, M/s. plyUSH KUCHHAL &ASSOCIATES, chartered Accountantr; fwith Firm Regiit."tion nuruer 011991c) were appointed asstatutoryAuditors of the-company to hold officellt th. conclusion of the sixth Annual GeneralMeeting to be held in.the financial year 2020, further :rppointment of the auditor shall be placed for. ratification at every Annual General Meeting by the shareholders. In this regard. The company hasreceived a certificate f'rom the auditors to the eifect that if there appointment will be ratify, it wouldbe in accordance with the provisionrs of section 1,41, olthe companies Act, 2013. Although throughlatest notification, requirement of,annual ratification has been removed by MCA.
They have confirmed their eligibitity to the effect tlLat their ratification/reappointment if madewottld be within the prescribed limits under the ,{ct and that they are not disqualified forreappointment,
The Notes of Accounts referred to in the Auditor's Report are self-explanatory and therefore do notcall for any f'urther comments, The A,uditor's report d,,a, not contain any qualification, reservati'nor adverse remark,
For qualifications, reservations or adverse remarks made by the statutory auditors please refertheir audit report' Notes to Accounts and Auditors' r,:markJ in their ,"port are self-explanatoryzand do not call for any future comments,
Pursuant to section 92(3) of the companies Acg 2013 and rule 12[1) of the companies(Management and Administration) Rules, 20!4, an extract of annual return in MGT 9 is enclosedhere with in Annexure B to this report.
Pursuant to section 134 (3) (n) of the companies x.ct, 2013, the company has framed a riskmanagement policy to identiSr, assiess, monitor and mitigate various risks to key busines;sobjectives' At present the company has not identified any ele"ment of risk which may threaten theexistence of the Company.
"corporate Social Responsibility" [clSR), pursuantto section 135 of the companiesAct,2013 andGovernance regulations there to have rbeen compried by your company.
SIGNIFICAI\{T & MATERIAL ORDER:S PASSED BY THq REGULATORS
During the 1's31 no si6;nificant and material orders passed by the regulators or courts or tribunalsimpacting the going conce'n status ancl company's opera,tioni i'fut.r.".
The company has not issued any Equity shares during tbe year under review.
In accordance with the clause [c) of sub-section (S) of Section 734 ofthe Companies Act, 20].3, theDirectors of your Company hereby state that-
- in the preparation of the annual accountsl the applicable accounting standards had beenfollowed along with proper explanation relafing to material departures;
- such accounting policies were selected and apptied them consistently and made judgmentsand estimates that are reasonable and prudont so as to give a true and fair view of the itate ofaffairs of the company at the end of the finamcial l'ear and of the profit and loss of the companyfor that period;
- proper and sufficient care was taken for thE majntenance of adequate accounting records inaccordance with the provisions of this Act for safeguarding the assets of the co-pany and forpreventing and detecting fraud and other irregula.rities;
- the annual accounts have been prepared on a goingconcern basis.
- proper systems were devised to ensure cor4pliarLce with the provisions of all applicable lawsand that such systems were adequate and operating effectively.
There are no employees, whose partir:ulars are requirert to be furnished under Section L9T(I2)readwith Rule 5 [1J Q) & [3) of Companies fAppointment & Remuneration) Rules, 2014 asremuneration of none of the employee is in excess of Rs,5,00,000 /- per month or more [orRs.60,00,000 per annum or more) dur.ing the financial year.
ACKNOWTEDGEMENT
The Directors wish to place on recordl their appreciation of the assistance and support rendered byState and Central Government Authorities, the ReFerve, Bank of India, the Company's bankers, anithe Joint Venture Partners,Viz.,
The Directors also wish to place on record their apprecjation of the sincere efforts of the employeesof the Company in the continuous dev,elopment of $ompany,
For and on behalfofthe Board ofdirectors
hdJ-<.D4^/i c^s\,ol*t'
SU]NITADEVI CHOUDHARY(DrRricToR)
DIN NO: 0230 5610Add: Raipur Indur;trial AreaRoorkee- 2 4V 667, UK India
(MANAGTNG DTRECTOR)DIN NO: 00422498
Add: Raipur Industrial AreaRo orkee-24 7 6 67, UK India
Form for Disclosure of particulars of contracts/anrangements entered into by the company withrelated parties referred to in sub section (1) of sectiori 1BB of the companies Act, 2-0t3 includingcertain arm's length transaction under third proviso therreto.
7' Details of contracts or arran$ements or transactions not at Arm,s length basis.-Nll
2. Details contracts or or transactions atArm's I basis.Nature ofcontracts/arrangements/transuctio
