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, 2012.
(Rs. In Lacs)
Description For the
Year For the
Total Income 40.24 12.59
Total Expenditure 13.44 7.47
Operating Profit(PBDT) 26.8 5.12
Depreciation 0.49 0.61
Profit before Taxation 26.31 4.51
Add: Net Deferred Tax
Assets/Reversal of DTL (3.99) 3.74
Add: MAT Credit Entitlement 0.79 0.58
Less: Interest paid on Income Tax 0.00 0.02
Less: Provision for MAT 5.02 0.83
Profit after Taxation 18.09 7.99
Proposed Dividend 10.85 1.55
Provision for Dividend Tax 1.76 0.26
Net Profit after Tax and Dividend 5.48 6.18
Amount B/F from Last year 36.55 30.37
Balance C/F to Balance Sheet 42.03 36.55
During the year under review the company's Profit after Tax stood at
Rs. 18.09 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.
The existing auditors M/s. LKM & Co., Chartered Accountants, retire at
the ensuing Annual General Meeting and have shown their unwillingness
for re-appointment as the auditors of the Company due to preoccupation.
The Board has obtained the confirmation from M/s. Katariya & Co.,
Chartered Accountants of their eligibility and willingness to be
appointed as the Statutory Auditors of the Company. A proposal seeking
their appointment is provided as part of the Notice of the ensuing
Annual General Meeting.
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. Shyam Sunder Gupta resigned from the directorship of the Company
with effect from 20th October, 2011. Your Board places on record its
sincere appreciation of the services rendered by him.
Mr. Vivek Agrawal and Mr. Manish Kumar Pokherna were appointed as
additional director w.e.f. 20th June, 2011 and 22nd February, 2012
respectively. Notice in writing under section 257 of the Companies Act,
1956 have been received from some members of the Company proposing the
candidature of Mr. Agrawal and Mr. Pokherna.
Mr. Rajnath Shukla retires by rotation at the forthcoming Annual
General Meeting and since he has not opted for re-appointment due to
pre-occupation, he will cease to be a director on the date of AGM.
Your Board places on record its sincere appreciation of the services
rendered by him.
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.
During the year under review, the Company had declared and allotted
93,00,000 equity shares of Rs. 10/- each as fully paid up Bonus Shares
in the ratio of Six (6) Equity Shares as Bonus Shares on August 26,
2011, against Every One (1) Equity Share held as on the Record Date,
i.e., August 25, 2011. ACQUISITION OF STAKE
During the year, Company has acquired 789000 equity shares of M/s
IADFAC Laboratories Private Limited ("ILPL") (99.87% Holding of "ILPL")
and 900000 equity shares of M/s Protect Nature Private Limited ("PNPL")
(97.26% Holding of "PNPL"). Pursuant to the said acquisitions, ILPL and
PNPL became subsidiaries of the Company.
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, 2012 and the profit & loss of the
company for the year ended on 31st March, 2012.
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