AFFLUENCE

DIRECTORS' REPORT

To the Members,

Rajputana Stainless Ltd

Dear Members,

Your Directors have the immense pleasure in presenting the 23rd Annual Report of the Company together with the Audited financial for the Period ended on 31st March 2014, for your perusal, consideration and adoption.

FINANCIAL HIGHLIGHTS

                                                                                                                    (Amount in Rupees `)

The year under review and operation was satisfactory considering the slowdown in the industry in which company is doing business. Your company has earned a total income of Rs. 243.81 Crores during the current year as compared to Rs. 222.99 Crores in the previous year and the Company has incurred a net Profit of Rs 2.80 Crores as compared to net profit of Rs. 3.92 Croresin the previous year.

DIVIDEND

With a view to conserve the liquid resources and to strengthen the financial position of the company your directors do not recommend any dividend for the current year.

FIXED DEPOSITS

The Company has not accepted any public deposit during the year under review and no amount against the same was outstanding at the same was outstanding at the end of the year.

DIRECTORS

As per Section 256 of the Companies Act, 1956 and the Articles of Association of the Company Mr. Shankerlal Deepchand Mehta, (DIN: 02656381) Director of the Company will retire by rotation and being eligible, offers himself for re-appointment.

AUDITORS AND AUDITORS REPORT

The term of Surendra Modiani and Associates, Chartered Accountants, Auditors of the Company, expires at the conclusion of the ensuing Annual General Meeting and they are eligible for reappointment. They have given a certificate to the effect that their reappointment, if made, will be within the prescribed limits specified under Section 141 of the Companies Act, 2013 and rules applicable to them.

COMMENTS ON AUDITORS' REPORTS   

The notes forming part of the account are self explanatory to the observation made by the Auditors in their report and do not call for any further comments.

STATUTORY DISCLOSURES PURSUANT TO SECTION 217

There were no employees coming within the purview of the provisions of section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

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

Information relating to the conservation of energy, technology absorption, foreign exchange earnings and outgo, etc. pursuant to Section 217(1) (e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Reports of the Board of Directors) Rules, 1988 are given in the attached annexure.

 DIRECTORS' RESPONSIBILITY STATEMENT

The Board of Directors of the Company takes responsibility and further confirms that;

�in the preparation of the annual accounts, the applicable accounting standards have been followed and no material departures have been made for the same;

�  they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as on 31st  March, 2014 and of the profit or loss of the company for that year;

�  proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 and  applicable provisions of Companies Act 2013, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

�  the annual accounts are prepared on a going concern basis.

INDUSTRIAL RELATIONS

Industrial relations in your company during the year were peaceful, cordial and healthy. Your company had been able to maintain peaceful industrial atmosphere and mutual trust between the management and the employees.

ACKNOWLEDGEMENT

Your Directors expresses their grateful appreciation for the assistance and cooperations received from the Banks, financial institutions, various government authorities, customers, vendors, employees and shareholders and all concerned during the year under review.

 For and on behalf of the Board

Rajputana Stainless Ltd

Shankerlal Deepchand Mehta

Managing Director and Chairman,

(DIN:02656381)

 Place: Madhvas

 Date : 01st September, 2014                                                                     

ANNEXURE TO DIRECTORS' REPORT

Pursuant to Sec 217(1)(e) under Disclosure of Particulars in the Report of Board of Directors Rules, 1988

Information under section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the report of Board of Directors) Rules 1988 and forming part of Directors Report for the year ended 31st March,2014

      A. Conservation of Energy

         �  The Company utilizes several systems to conserve the energy.

� Total energy consumption and energy consumption per unit of production is as per prescribed FORM � A as per attached annexure.

      B. Technology Absorption

C. Earnings in Foreign Currency (On Receipt Basis)

D. Expenditure in Foreign Currency (On Payment Basis)

FORM � A

    Form of disclosure of particulars with respect to conservation of energy.

 Part of this high speed Diesel is used in generation of electricity.