AFFLUENCE

Our Total Revenue for the year is Rs. 46.82 Cr. The Resort Business contributed an income of Rs.8.0 crores during the year.

CHANGE IN THE NAME OF THE COMPANY:

The name of the Company was changed from Coffee Day Resorts Private Limited to Coffee Day Enterprises Private Limited vide the special resolution passed by the Shareholders on 1st August, 2014 as the new name more significantly describes the nature of business of the company being undertaking of new ventures and business.

LIQUIDITY:

Your Companys ability to raise finance for expansion of business has been its strength and is able to tie up the required investments from various Investors.

PARTICULARS OF EMPLOYEES:

As required under the provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975, as amended, the names and other particulars of employee are given below:

1.    Balachandra Natarajan:

  Designation of the employee                    :        Group Head-HR

  Remuneration received                                     :        Rs.8,14,583 p.m.

  Nature of employment, whether contractual or otherwise:Contractual

  Other terms and conditions.                     :        As Directed by the Board.

  Nature of duties of the employee.            :        HR Operations

  Qualifications and experience of the employee.

o    Qualifications:

         MS by Research (Industrial management), IIT Chennai

         BA. MA

o    Experiences:

         Chief HR Officer, STRIDES ARCO LAB (2009 2011)

         HR Leadership Role, General Electrics (GE) (2001 2008)

  Date of commencement of employment.             :        16/02/2012

  Age of the employee.                                                :        50 Years

  Last employment held by such employee before joining the company:

         STRIDES ARCO LAB (2009 2011)

  Percentage of equity shares held by the employee in the company.: NIL

DIRECTORS:

The Company being a Private Limited Company, none of the Directors are liable to retire by rotation.

AUDITORS:

M/s B S R & Co, LLP, Chartered Accountants, Bangalore, were appointed as the statutory auditors of the Company vide shareholders approval dtd 1st Aug, 2014 to fill the casual vacancy created by the resignation of M/s Deloitte Haskins & Sells, Chartered Accountants, Bangalore. M/s B S R & Co, LLP, Chartered Accountants retire at the conclusion of the forthcoming Annual General Meeting and being eligible have offered themselves for re-appointment.

DIVIDEND:

The Directors are of the opinion, that it is necessary to conserve the funds to meet the future business requirement, which they believe would enhance the shareholders value in long term. Therefore, your Board has not recommended any dividend for the F.Y 2013 14. 

PUBLIC DEPOSIT:

The Company being a Private Limited Company has not accepted any Public Deposit under Section 58A of the Companies Act, 1956 from the Public during the year.

PEOPLE:

The total number of employees as on March 31, 2013 was 165 as against 157 as on March 31, 2014.

Auditors qualification, reservations or adverse remarks of the auditors as per audit report:

1.    The accumulated losses of the company at the end of the financial year are not more than fifty percent of its net worth. The company has incurred cash losses in the current financial year as well as in the immediately preceding financial year.

The Company, as per the business plan, is confident to wipe off its cash losses in the near future.

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

Particulars under (Disclosure of Particulars in the Report of Directors) Rules, 1988 for the year ended 31st March, 2014:

A)    CONSERVATION OF ENERGY:

The Company adopts energy efficient practices across all its business units operation.

B)    TECHNOLOGY AND INNOVATION:

Since the company is in the Business of Resorts Operation, the opportunity and usage of innovations and technology is minimal. However wherever the opportunity exist the management has taken the appropriate steps.

C)    FOREIGN EXCHANGE EARNINGS AND OUTGO:

There were no Foreign Exchange Earnings during the year.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217(2AA) of the Companies Act, 1956, the directors confirm that,

(I)           In the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanations relating to material departure;

(II)         The directors have selected such accounting policies and applied them consistently and made judgments and estimated 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 the profit and loss account of the company for that period;

(III)       The directors have taken proper and sufficient care for the maintenance of the 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;

(IV)     The directors had prepared the annual accounts on a going concern basis;

ACKNOWLEDGEMENT:

Your Directors take this opportunity to thank the Companys Customers, Vendors, Bankers, Shareholders, Business constituents for the continuing co-operation and support to the company.

For and on behalf of the Board

                           For Coffee Day Enterprises Pvt. Ltd,

                        (Formerly Coffee Day Resorts Pvt. Ltd)     

Place: Bangalore

Date:  23/09/2014                                

Director                                 Director