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Aarcon Facilities Ltd.

BSE

Jan 29
6.19 +0.00 (+ 0.00 %)
 
VOLUME : 500
PREV. CLOSE
6.19
OPEN PRICE
6.19
TODAY'S LOW / HIGH
6.19
 
 
 
6.19
BID PRICE(QTY.) 0.00 (0)
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52 WK LOW / HIGH
5.90
 
 
 
6.19
Aarcon Facilities Ltd. is not traded in NSE

Directors Report

Market Cap.(`) 3.69 Cr. P/BV 0.60 Book Value (`) 10.30
Bookclosure 25/09/2017 FV/ML 10/100 P/E(X) 0.00
EPS (`) 0.00 Div Yield (%) 0.00
You can view full text of the latest Director's Report for the company.
Year End :2014-03 Dear Members,

The Directors hereby present the 21st Annual Report together with the audited statement of account for the year ended on 31st March, 2014.

1. FINANCIAL RESULTS:

The financial Results for the year ended are as under:

Particulars                                  Year ended     Year ended
                                             31-03-2014     31-03-2013
(Rs. In Lac)

Total Turnover and other income                    3.72         154.08

Profit (Loss) before interest, 
depreciation and tax                             (4.06)          19.38

Interest                                           2.30           0.32

Depreciation                                       0.21           0.21

Profit (Loss) before tax                         (6.57)          18.85

Current Tax                                         NIL           3.50

Deferred Tax Asset                               (2.07)         (1.31)

Profit/ Loss after Tax                           (4.51)          16.66

Transfer to special reserve                        0.00           3.77

Balance carried to Balance Sheet                 (4.51)          12.89
2. DIVIDEND:

Your Directors have not recommended any dividend for the year ended 31-03-2014.

3. PUBLIC DEPOSIT:

The company has not accepted any deposit U/S 58 A of the Companies Act, 1956 during the year under report.

4 REPORT ON CORPORATE GOVERNANCE:

Corporate governance report pursuant to clause-49 of the listing agreement entered with stock exchange is attached.

5. AUDITORS:

M/s. Amin Parikh & Co., Chartered Accountants, Auditors of the company retire at the ensuing Annual General Meeting and eligible for reappointment.

6. AUDITOR'S REPORT:

The observations of the auditors are explained whenever necessary, by way of appropriate notes to the account.

7. DIRECTOR'S RESPONSIBILITY STATEMENT: Your Board States that;

(i) In the preparation of the annual accounts for the year ended on 31st March 2014, the applicable accounting standards had been followed except interest income on loan given has not been added to other income as it is doubtful to recover and there had been no other material departures from the said standards.

(ii) 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 as at 31st March, 2014 and of the profit of the company for the year ended on that day.

(iii) The directors had taken proper and sufficient care for the maintenance of adequate accounting statement in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

(iv) The directors had prepared the annual accounts for the year ended on 31st March 2014 on a going concern basis.

8. DIRECTORS:

The Company has received notice from member of the Company to appoint Mr. Rameshbhai Narshinhbhai Chauhan, Mr. Narendrakumar Chandubhai Patel and Mr. Kamal Bachubhai Pandya, Directors for their appointment as Independent Directors. The Board recommend to appoint them as Independent Directors.

9. SECRETARIAL COMPLIANCE CERTIFICATE:

Compliance certificate U/S 383(1A) of the Companies Act, 1956 obtained from practicing Company Secretary is attached herewith.

10. PARTICULARS OF EMPLOYEES:

Information in accordance with the provisions of section 217 (2A) of the Companies Act, 1956 read with the companies (Particulars of Employees) Rules, 1975 as amend regarding employees is NIL.

11. PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE INCOME AND OUTGO:

Information in accordance with the provisions of section 217 (1E) of the Companies Act, 1956 read with the companies (Disclosure of particulars in the report of the Board of Directors) Rules 1988 is NIL.

12. ACKNOWLEDGEMENT:

Your Directors Appreciate the Valuable co-operation and assistance received from the company's Bankers, employees, customers and all those associated with the company during the year under review.

PLACE: VADODARA                                  On Behalf of the Board
DATED: 14.08.2014
                                                 BHARAT R. GUPTA
                                                 Managing director
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