| Description of state of companies affair 2015-2016 2014-15 1. Operating Profit/Loss before Interest & 68,31,372 88,99,861 Depreciation. 2. Less : Interest - - 3. Less Depreciation 16,58,281 20,31,577 4. Profit/Loss after Depreciation and Interest 51,73,091 68,68,284 5 Profit/loss on sale of land/building 58,25,918 (61,81,683) 6. Adjustment for Deferred Tax Liability 1,80,259 24,14,196 7. Less : Provision for Taxation 19,00,000 31,63,954 8. Net profit/Loss after Taxation 92,79,268 63,155 Details regarding energy conservationThe operations of the company are not much energy intensive. However, the company made efforts to conserve energy consumption wherever feasible. Details regarding technology absorptionThe company's operations and process are based on Indigenous technology which has been fully absorbed. The company has in-house R & D cell for development and improvement of products. Details regarding foreign exchange earnings and outgoThe Company exported directly and indirectly goods worth Rs.189.35 lacs and thus the Foreign exchange earnings are Rs.189.35 lacs. The outgo of foreign exchange during the year under review was only Rs.30.43 Lacs. Disclosures in director’s responsibility statementIn accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submit its responsibility Statement:- (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; (b) 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 at the end of the financial year and of the profit and loss of the company for that period; (c) the directors had taken proper and sufficient care for the maintenance of 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; (d) the directors had prepared the annual accounts on a going concern basis; and (e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and (f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively |