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Aarey Drugs & Pharmaceuticals Ltd.
Market Cap. (Rs.) 77.64 Cr. P/BV 0.97 Book Value (Rs.) 34.33
52 Week High/Low (Rs.) 90/28 FV/ML 10/1 P/E(X) 12.57
Bookclosure 29/09/2017 EPS (Rs.) 2.64 Div Yield (%) 0.00
DIRECTOR'S REPORT
You can view full text of the latest Director's Report for the company.
Year End :2016-03 

To,

The Shareholders,

The Directors have pleasure in presenting the Twenty Sixth Annual Report together with Audited Accounts for the year-ended 31stMarch, 2016.

FINANCIALRESULTS:

(In Rs.) (In Rs.)

Particular

31st March 2016

31st March' 2015

Income

2491656459.00

2160325604.00

Expenditure

2473526508.00

2146225747.00

(Loss)/ Profit

Before Exceptional Item & Tax

18129951.00

14099857.00

Profit Before Tax

18129951.00

14099857.00

(Less)/Add: Tax Expenses

(5236404.00)

(3216293.00)

Balance Carried To Balance Sheet

12893548.00

10883564.00

REVIEW OF OPERATIONS & FUTURE OULLOOK

CREATING NEW CAPACITIES: Our Company proposes to launch new products i.e. Monomethyl Urea(MMU)-200 MT per Month, Dimethyl Urea(DMU)-100 MT per Month, Theobromine(THB)- 20 MT per Month, Theophylline(THP)- 30 MT per Month and Pentoxifylline(PTF)-10 MT per Month.

Company proposes to commence production of MMU and DMU by 30th June,2016 , THB and THP by October,2016 and PTF by March,2017. Necessary steps has been already taken by the Management.

DIVIDEND

Your directors do not recommend any dividend for the year ended 31st March, 2016. DEPOSITS

The Company has not accepted the deposits from the public as per the Section 58Aof the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

CORPORATE SOCIAL RESPONSIBILITY

Since the Company's turnover, net profit and net worth does not exceed the limits mentioned under Section 135 of Companies Act, 2013, the provisions of Corporate Social Responsibility is not applicable to the Company.

DIRECTOR

Mr. Lalit Tulsiani, Director of the company is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for re-appointment. J *To regularize the re-appointment of Mr. Mihir R. Ghatalia who was re-appointed as the Managing Director of the Company by Board vide its Board Meeting dated 30th December, 2015.

DIRECTORS RESPONSIBILTYSTATEMENT

As referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, the Directors hereby confirm:

i) that in preparation of the Annual Accounts for the year ended 31st March, 2016, the applicable accounting standards had been followed along with proper explanation relating to material departures, if any;

ii) that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give true and fair view of the state of affairs of the company at the end of financial year ended 31st March, 2016 and the profit/(Loss) of the Company for the year under review;

iii) that proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the provisions of the Companies Act ,2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) that the annual accounts for the year ended 31st March, 2016 have been prepared on a “going concern basis”

v) the directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

ANNUALRETURN

As per section 92(3)of the Companies Act, 2013, the extract of the Annual Return is annexed hereto as Annexure B . The extract of the Annual Return shall be prescribed and it is the part of Director Report.

AUDITORS

M/s. DMKH & Company, who were appointed as Auditors to hold office until the conclusion of the 29th Annual General Meeting to be held in the calendar year 2019 are eligible for re-appointment. The Company has received the Certificate from them to this effect.

SECRETARIALAUDIT REPORT

Pursuant to Section 204 of the Companies Act, 2013, the Board of Directors had appointed M/s. Virendra Bhatt & Associates, Practicing Company Secretaries as the Secretarial Auditors of the Company for the financial year 2015-16.

Accordingly, the Secretarial Auditors have given their report, which is annexed hereto as Annexure A. The comments of the Board on the observations of the Secretarial Auditors are given after Annexure above.

The Board has re-appointed M/s. Virendra Bhatt & Associates, Practicing Company^ Secretaries as the Secretarial Auditors of the Company for the financial year2016-17.

BOARD MEETINGS

The details pertaining to the composition, terms of reference, etc. of the Board of Directors of the Company and the meetings thereof held during the financial year are given in the Report on Corporate Governance section forming part of this Annual Report.

DECLARATIONOFINDEPENDENCEBYINDEPENDENT DIRECTOR

The Board confirms that all Independent Directors of the Company have given a declaration to the Board that they meet the criterion of independence as prescribed under Section 149 of the Companies Act, 2013.

COMMITTEESOFTHEBOARD

The details of the powers, functions, composition and meetings of the Committees of the Board held during the year are given in the Report on Corporate Governance section forming part of this Annual Report.

AUDITCOMMITTEE

The details pertaining to the composition, terms of reference, etc. of the Audit Committee of the Board of Directors of the Company and the meetings thereof held during the financial year are given in the Report on Corporate Governance section forming part of this Annual Report. The recommendations of the Audit Committee were accepted by the Board of Directors of the Company from time to time.

CORPORATE GOVERNANCE

A separate report on Corporate Governance is produced as a part of the Annual Report along with the Auditors statement on its compliance.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGSAND OUTGO:

Your Company has made the necessary disclosures in this Report in terms of Section 134(3) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 is given in Annexure C and forms part of this report.

EMPLOYEES:

There were no employees coming under the purview of Section 197(12) of the Act read with Rules 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and the rules frame there under.

REMUNERATION:

As per Section 197 of the Companies Act, 2013, the ratio of remuneration of each director to the median remuneration of the employees of the company for the financial year:

Name of the Director

Ratio to Median employees

Mihir R Ghatalia, Managing Director

5:3

DISCLOSURE UNDERSECTION 164

None of the Directors of the company are disqualified for being appointed as Directors as specified under section 164 of the Companies Act, 2013.

ACKNOWLEDGEMENTS

Your Directors wish to place on record, the appreciation for the continued support of the customers, Bankers and Suppliers. Your Directors acknowledge and thank the employees for their valuable contribution and involvement.

For and on behalf of the Board of Directors

Jagdish K.Shah

CHAIRMAN

Place: Mumbai

Date : 30thMay,2016

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Achiievers Equities Ltd (AEL) Member of NSE, BSE and MCX-SX
Reg. Office: 32/A, Diamond Harbour Road, Shakerbazar, Kolkata 700008 Tel: 033 2445 6442/66063000 Fax: 033 6606 3041
Email: info@achiieversequitiesltd.com , customer.care@achiieversequitiesltd.com
NSE Registration Nos.: NSE (Cash) : INB231395832 ; NSE (F&O) : INF231395832 ; NSE (Currency) : INE231395832 ; BSE (Cash) : INB011395838 ; BSE (F&O) : INF011395838 ; BSE(Currency) : INE011395838 | DSE Registration Nos. : INB051395839 | USE Registration Nos. : INE271395837
Achievers Commercial Pvt Ltd (ACPL) Members of MCX, ACE and NSEL. | SEBI Registration No. INZ000050830 | ACE: ACEL/TMC/CORP/0194 | NSEL: 40020 | SCORES
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