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Aakar Engineering & Manufacturing Company Ltd.
Market Cap. (Rs.) 0.45 Cr. P/BV -0.11 Book Value (Rs.) -8.57
52 Week High/Low (Rs.) 0/0 FV/ML 10/1 P/E(X) 0.00
Bookclosure 04/01/2002 EPS (Rs.) 0.00 Div Yield (%) 0.00
DIRECTOR'S REPORT
You can view full text of the latest Director's Report for the company.
Year End :2007-03 The Directors have pleasure in presenting their report on the operations of the Company for the year ending 31st March 2007.

Financial Results                      Current Year      Previous Year
                                       (Rs. in Lacs)     (Rs. in Lacs)

a)  Sales and other income               497.52               982.30

b)  Profit before Interest, 
    Depreciation
    and non-cash exp.                   (166.36)             (253.72)

c)  Interest                              70.47               101.32

d)  Depreciation and other non cash 
    expenses                               0.99                 1.10

e)  Provision for Taxation                 0.11                 0.56

f)  Net Profit/(Loss) before 
    Appropriation                        237.93)             (356.70)

g)  Add: Deferred Tax                     80.25                88.28

                                        (157.68)             (268.42)

h) Add: Balance Brought Forward         (602.67              (334.25)

Net Profit & (Loss) trf. to 
Balance sheet                           (760.35)             (602.67)
Dividend:

Due to losses during year the Board of Directors does not recommend any dividend for the year ended 31st March 2007.

Turnover and Profits and Operations:

Turnover for the year under review amounted to Rs 497.52 Lac (previous year Rs.947.25 Lac). The net loss for the same year was Rs.237.81 Lac (previous year Rs. 356.14 Lac).

Finance and Accounts:

During the year, the Company could not progress much and had strains on its working capital requirement because of slow recovery of its receivables, slow movement of stocks and losses due to lower turnover mainly because of the recession prevalent in the Industry in which the Company operates. However your directors hopeful of doing a better performance in the future.

Auditors:

The Auditors M/s. S. M. Bhat & Associates., Chartered Accountants, are holding their office as the Auditors of the Company till the conclusion of the ensuing Annual General Meeting. M/s. S. M. Bhat and Associates, Chartered Accountants, have expressed their consent to continue as Statutory Auditors of the Company and your Board recommends their appointment.

Deposits

The company has not invited or accepted any deposits from the public under the non- banking financial companies, Reserve bank of India directions, 1977.

Particulars of Employees:

As required under Sub Section 2A of Section 217 of Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 and as amended from time to time, the particulars of such employees are not applicable to the Company.

Conversion of energy and technology absorption

The particulars under the companies (Disclosure of Particulars in the report of Board of directors) Rules, 1988 on conservation of energy and technology absorption are not applicable.

Foreign Exchange Earnings & Outgo

There is no outflow/inflow of foreign exchange

Corporate governance

The company has complied with the requirements regarding corporate governance as the required under clause 49 of the listing agreement entered in to the stock exchange where the companys shares are listed. A report of the corporate governance in this regard is made a part of this annual report and a certificate from the auditors of the companies regarding the compliance of the conditions of the corporate governance is attached to this report.

Directors Responsibility Statement:

As required under Section 217(2AA) of the Companies Act, 1956, the Directors confirm that:

1. In the preparation of the annual accounts, the applicable accounting standards have been followed.

2. The accounting policies selected have been consistently applied and the accounting for the period under review gives a true and fair view of the state of affairs of the Company.

3. Proper and sufficient; care has been taken for maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Company.

4. The accounts have been prepared on a going-concern basis.

Audit Committee

The company has duly constituted audit committee under section 292A of the companies act, 1956.

Acknowledgement:

The Directors wish to take this opportunity to thank all the employees of the Company as also various other Government Agencies for their continuous contribution towards the growth of the organization.

For Aakar Engineering and Manufacturing Company Limited

                                   Chairman
Place: Mumbai Date : 03-09-2007

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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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