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DIRECTOR'S REPORT

Akashdeep Metal Industries Ltd.

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Market Cap. (₹) 38.47 Cr. P/BV 1.66 Book Value (₹) 27.19
52 Week High/Low (₹) 52/30 FV/ML 10/1 P/E(X) 28.35
Bookclosure 29/09/2018 EPS (₹) 1.60 Div Yield (%) 0.00
Year End :2014-03 
Dear Members

The Directors have pleasure in presenting the 30th Annual Report of your Company together with the Audited Annual Accounts for the financial year ended 31st March 2014.

Financial Highlights

Particulars                                  Amount    (Rs. in lacs)
                                          FY 2013-2014   FY 2012-2013

Revenue from Operation                     1,095.87          3.41

Other Income                                   0.02             -

Total Revenue                              1,095.89          3.41

Total Expenditure                          1,090.46          2.36

Profit before tax                              5.43          1.05

Provision for tax                              1.62          0.32

Deferred Tax                                   0.05             -

Profit after tax                               3.75          0.72

EPS (Rs.)                                      1.46          0.29

Transfer to Statutory Reserve                  0.75          0.14

Paid-up Share Capital                        309.85         24.85
Year in retrospect

During the year under review, total income of the Company was Rs. 1,095.89 lacs as against Rs. 3.41 lacs in the previous year. The Company was able to earn a profit after tax of Rs. 3.75 lacs in the current financial year as against a profit of Rs. 0.72 lacs in the financial year 2012- 2013. Your Directors are putting in their best efforts to improve the performance of the Company.

The detailed Management Discussion & Analysis Report is attached hereto with the Director's Report and should be read as part of this Directors Report.

Material Changes after the close of the financial year Save as mentioned elsewhere in this Report, no material changes and commitments affecting the financial position of the Company has occurred between the end of the financial year of the Company 31st March 2014 and the date of this report.

Dividend

The Board of Directors of your Company has decided to retain and plough back the profits into the business of the Company, thus no dividend is being recommended for this year.

Corporate Governance

A Report on Corporate Governance is attached as a part of this Directors Report along with the Auditors' Certificate on compliance of Clause 49 of the Listing Agreement.

Public Deposits

During the year under report, your Company did not accept any deposits from the public in terms of the provisions of section 58A of the Companies Act, 1956 and applicable RBI regulations.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo _

The Company is a non banking financial Company and most of the details as required under Section 217 (1) (e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is not applicable.

(a) Conservation of Energy N.A.

(b) Foreign Exchange Earnings Nil

(c) Foreign Exchange Outgo Nil

(d) Technology Absorption N.A.

Particulars of Employees

During the financial year under review, none of the Company's employees was in receipt of remuneration as prescribed under section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, and hence no particulars are required to be disclosed in this Report.

Directors

Except for the following changes, there was no change in the composition of the Board of Directors of the Company subsequent to the last Directors' Report:

After the last Annual General Meeting, Mr. Vibhor Kumar Jain and Ms. Nidhi Jain ceased to be director of the Company due to his resignation. Ms. Shallu Jain, Mr. Atul Aggarwal and Mr. Saurabh Madan were appointed as an independent Director of the Company.

In accordance with the provisions of section 149 of the Companies Act, 2013 all the independent directors will be non rotational. Accordingly, the proposal for the same is placed in the ensuing annual general meeting of the Company. Mrs. Kavita Jain is liable to retire by rotation and being eligible offer herself for re-appointment. Directors recommend their re- appointment.

Committees of the Board of Directors

The Board of Directors of the Company has constituted the following committees in terms of the provisions of the Companies Act and clause 49 of the listing agreement:

I. Audit Committee

Name of the Director Category

Ms. Shallu Jain Chairman

(Non Executive Independent) Mr. Atul Aggarwal Member

(Non Executive Independent) Mr. Surendra Kumar Jain Member

(Promoter & Executive)

II. Nomination and Remuneration Committee

Name of the Director               Category

Ms. Shallu Jain                    Chairman
                             (Non Executive Independent) 

Mr. Atul Aggarwal                  Member
                             (Non Executive Independent) 

Mr. Surendra Kumar Jain            Member
                             (Promoter & Executive)
III. Stakeholders Relationship Committee

Name of the Director               Category

Ms. Shallu Jain                    Chairman
                              (Non Executive Independent) 

Mr. Atul Aggarwal                  Member
                              (Non Executive Independent) 

Mr. Surendra Kumar Jain            Member
                              (Promoter & Executive)
Auditors

M/s Prakash & Santosh, Chartered Accountants, Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. A certificate under the Companies Act, 2013 regarding their eligibility for the proposed re-appointment has been obtained from them. Your Directors recommend their re-appointment.

Auditors' Report

Comments made by the Statutory Auditors in the Auditors' Report are self-explanatory and do not require any further clarification.

Directors' Responsibility Statement

In terms of the provisions of section 217 (2AA) of the Companies Act, 1956, and to the best of their knowledge and belief and according to the information and explanations obtained by them and save as mentioned elsewhere in this Report, the attached Annual Accounts and the Auditors' Report thereon, your Directors confirm that:

a. in preparation of the annual accounts, the applicable accounting standards have been followed;

b. the Directors 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 at 31st March 2014 and of the profit of the Company for the year ended on that date;

c. the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

d. the Directors have prepared the Annual Accounts on a going concern basis.

Stock Exchange Listing

The shares of the Company are listed on the Delhi Stock Exchange Limited (DSE). The listing fee for the financial year 2014-2015 has been paid to the stock exchanges.

Acknowledgement

Your Directors take this opportunity to place on record their sincere appreciation for the co- operation and assistance the Company has received from Banks and various Government Departments. The Board also places on record its appreciation of the devoted services of the employees, support and co-operation extended by the valued business associates and the continuous patronage of the customers of the Company.

                                   For and on Behalf of the Board 
                           For Akashdeep Metal Industries Limited

                           Surendra Kumar Jain    Deepak Kumar Jain
Date: 11th August 2014     Chairman cum           Director
                           Managing Director
Place: Delhi               DIN: 00097859          DIN: 00098116

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