To , The Members of Malabar Trading Company Limited
The Directors have pleasure in presenting the Annual Report of the
Company together with the Audited Statement of Accounts for the
accounting period ended on 31st March, 2013.
(Rs. In Lacs)
Description For the Year For the Year
Total Income 33.99 40.24
Total Expenditure 13.82 13.44
Operating Profit(PBDT) 20.17 26.8
Depreciation 0.25 0.49
Profit before Taxation 19.92 26.31
Add: Net Deferred
Tax Assets/Reversal of DTL 0.00 0.00
Add: MAT Credit Entitlement 0.00 0.79
Less: Interest paid on Income Tax 0.00 0.00
Less: Provision for MAT 0.00 0.00
Less: Current Tax 6.41 5.02
Less: Deferred tax made/(reversed) 0.03 3.99
Profit after Taxation 13.48 18.09
Proposed Dividend 10.85 10.85
Provision for Dividend Tax 1.84 1.76
Net Profit after Tax and Dividend 0.79 5.48
Amount B/F from Last year 42.03 36.55
Balance C/F to Balance Sheet 42.82 42.03
During the year under review the company's Profit after Tax stood at
Rs. 13.48 Lacs.
The Directors expects a further growth in the current year due to the
new activities being taken up in the current year.
The Board has recommended 1% dividend on equity shares, i.e., Rs. 0.10
per share of the face value of Rs. 10/- each.
M/s Katariya & Co., Chartered Accountants, retire as the auditors of
the Company and have confirmed that their re-appointment, if made,
would be within the limits specified under Section 224 (1B) of the
Companies Act, 1956. Your directors recommend their re-appointment.
The comments by the Auditors in their Report are self explanatory and
in the opinion of the Board, do not require any further clarifications.
Mr. Rajnath Shukla retired under Section 255 as a Director of the
Company with effect from 20th November,
2012. Your Board places on record his sincere appreciation of the
services rendered by him.
The Board has, with effect from 30th January, 2013, appointed Mr.
Rajeev Agnihotri as Managing Director of the Company for a period of 3
years. However he ceased from Directorship w.e.f 7th May, 2013. Your
Board places on record its sincere appreciation of the services
rendered by him.
Mr. Motilal Laxkar ceased to be the Managing Director of the Company
with effect from 30th January, 2013 & continued to be the Director of
the Company and he resigned from directorship with effect from 19th
March, 2013. Your Board places on record its sincere appreciation of
the services rendered by him.
Mr. Keval Shah was appointed as an Additional Director w.e.f. 19th
March, 2013. Notice in writing under section 257 of the Companies Act,
1956 have been received from members of the Company proposing the
candidature of Mr. Shah.
The Board has appointed Mr. Viral Kapadia as an Additional Director
designated as Managing Director of the Company w.e.f. 7th May, 2013 for
a period of 3 years.
Mr. Vivek Agarwal retires by rotation at the forthcoming Annual General
Meeting and being eligible offer himself for re-appointment. Directors
commend their re-appointment.
Observations made in the Auditors' Report are self explanatory, and
therefore, do not call for comments under section 217(3) of the
Companies Act, 1956.
MANAGEMENT DISCUSSION & ANALYSIS REPORT
In terms of Clause 49 of the Listing Agreement with the Stock
Exchanges, management Discussion & Analysis Report is appended to this
A separate section on Corporate Governance and certificate from the
auditors of the Company regarding compliance of conditions of Corporate
Governance pursuant to clause 49 of the Listing Agreement with the
Stock Exchanges, forms part of the Annual Report.
INCREASE IN AUTHORISE SHARE CAPITAL
During the year under review, the Company had increased Authorised
Share Capital of the Company from Rs. 11,00,00,000 to Rs. 31,00,00,000
by creation of 2,00,00,000 equity shares of INR 10 each aggregating to
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The Company is not manufacturing unit hence, information pertaining to
conservation of energy and technology absorption is not applicable to
There are no transactions pertaining to Foreign exchange earning and
outgo during the year under review.
PARTICULARS OF EMPLOYEES
The Company does not have any employee whose particulars are required
to be given pursuant to the provisions of the section 217(2A) of the
Companies Act, 1956, read with the Companies (Particulars of Employees)
DIRECTORS RESPONSIBILITY STATEMENT
As required under Section 217(2AA), which was introduced by the
Companies (amendment) Act, 2000 you're Directors confirm that:-
i. In the preparation of the annual accounts, the applicable
accounting standards have been followed.
ii. The Directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as it gives a true & fair view of the state of affairs
of the Company as on 31st March, 2013 and the profit & loss of the
company for the year ended on 31st March, 2013.
iii. 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 fraud and other
iv. The Directors have prepared the Annual Accounts on going concern
The Board of Directors wish to place on record their sincere
appreciation and acknowledge with gratitude to the Company's valued
clients and Bankers for their continued support. The Directors also
record their appreciation of the Company's Employees at all their
appreciation, commitment and hardwork, without which the results
achieved by your company would not have been possible and look forward
to their continued support.
For and on behalf of the Board,
Managing Director Director
Date: July 26, 2013