| Disclosure in board of directors report explanatory DIRCTOR’S REPORT Your Director has pleasure in presenting the 54th Annual Report and Audited Account for the Year ended 31st March, 2014. 1. FINANCIAL RESULTS: (Rs. In Lacs)Particular | Year ended31st March, 2014 | Year ended31st March, 2013 | Gross Income | 11059.60 | 8967.59 | Profit/ Loss before interest, Dep. & Tax | 172.94 | 37.82 | Interest | 60.09 | 5.04 | Depreciation | 13.03 | 16.01 | Provision for Taxation | 22 | .46 | Net Profit/ (Loss) | 77.82 | 16.31 | Balance brought forward | 37.56 | 21.25 | Balance carried to Balance Sheet | 77.82 | 37.56 |
2. OPERATONS: The company activity were local trading and import of chemicals. During the year under review it has register the growth of 18.92% as compared to last yr’s sales. Due to stiff competition and Foreign Currency fluctuation profitability of your company has been severely effected. The directors hope to achieve better results during the current year. 3. DIVIDEND: Your directors don’t recommend any dividend during the year under review. 4. Board of Directors: In accordance with the provisiov of Companies Act, 2013 the Article of Association of the Company four directors Sh. Pratik Didwania, Sh. Rajendra Agarwal, Sh. Damodar Vyas, Ms. Annie Jaquim Fernandes ; retires at the ensuring Annual General Meeting and being eligible offered themselves for re-appointment. 5. Fixed Deposits: Your Company has not accepted any Fixed Deposits within the meaning of Section 58A of the Companies Act, 1956 and rules made there under during the year under review from public. 6. Auditors: M/s. P.V. Page & Co. Chartered Accountants, The Auditors of the company retire at the ensuring Annual General Meeting and our unable to continue as statutory auditors. Board of Directors thanks them for services rendered to the company and for their long association with the company as auditors. The Board of Directors recommended M/s P.V.Page & Co. Chartered Account as statutory auditors for the year 2013-2014. The said Auditors have furnished a certificate that if appointment shall be within the limits prescribed under section 139 of the Companies Act, 2013. Members are requested to consider their appointment as auditor and authorized board of directors to fix their remuneration. 7. STATUTORY DISCLOSURE: Information required to be given under section 217 (1) (e) of the companies Act, 1956 read with the companies. ( Disclosure of Particulars in the report of the Board of Directors) A rule, 1988 does not apply to your company as the company is not engaged in manufacturing activities.i) Foreign Exchanges: There was no foreign exchange earnings during the year but, company imported goods worth CIF value of Rs. 25,23,82,081/- during the year ending 31 –March 2014 for trading purposeii) In the preparation of the annual accounts, the applicable accounting standards have been followed;iii) Standard accounting policies have been consistently applied in consultation with the auditors.iv) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the companies Act, 1956 for safeguarding the assets of this company and for preventing and detecting fraud and other regulation.v) These accounts have been prepared on an ongoing concern basis. 8. Directors Responsibility Statement: Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 the Directors state that: In the preparation of Annual accounts for the financial year ended 31st March 2014 the applicable accounting standard have been followed along with proper explanation relating to material departures. The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 and loss account of the Company under review. The Directors have taken proper and sufficient care for the maintenance of adequate Accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities. The Annual Accounts have been prepared on a going concern basis.9. Particulars of Employees: As there are no employees in receipt of Remuneration of Rs 24, 00,000 or more for the year or Rs. 2, 00,000/- per month if employed for part of the year, the statement made under Section 217 (AA) is not applicable.10. APPRECIATION: The Board wishes to express their sincere appreciation to all the staff members for their efforts and contribution made to the progress of the company and to the Bankers, Shareholder, Customers and Suppliers for their sustained support. On Behalf of the board of directorsFOR PESTICIDES & BREWERS LIMITED Place: Mumbai MR. OMPRAKASH G. BERLIADate: 03/09/ 2014 MANAGING DIRECTORDetails regarding management discussion and analysis explanatoryDIRCTOR’S REPORT Your Director has pleasure in presenting the 54th Annual Report and Audited Account for the Year ended 31st March, 2014. 1. FINANCIAL RESULTS: (Rs. In Lacs)Particular | Year ended31st March, 2014 | Year ended31st March, 2013 | Gross Income | 11059.60 | 8967.59 | Profit/ Loss before interest, Dep. & Tax | 172.94 | 37.82 | Interest | 60.09 | 5.04 | Depreciation | 13.03 | 16.01 | Provision for Taxation | 22 | .46 | Net Profit/ (Loss) | 77.82 | 16.31 | Balance brought forward | 37.56 | 21.25 | Balance carried to Balance Sheet | 77.82 | 37.56 |
2. OPERATONS: The company activity were local trading and import of chemicals. During the year under review it has register the growth of 18.92% as compared to last yr’s sales. Due to stiff competition and Foreign Currency fluctuation profitability of your company has been severely effected. The directors hope to achieve better results during the current year. 3. DIVIDEND: Your directors don’t recommend any dividend during the year under review. 4. Board of Directors: In accordance with the provisiov of Companies Act, 2013 the Article of Association of the Company four directors Sh. Pratik Didwania, Sh. Rajendra Agarwal, Sh. Damodar Vyas, Ms. Annie Jaquim Fernandes ; retires at the ensuring Annual General Meeting and being eligible offered themselves for re-appointment.
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