| Disclosure in board of directors report explanatory ACKNOWLEDGEMENTSYour Directors place on record their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your Directors also acknowledges gratefully the shareholders for their support and confidence reposed on your Company. Description of state of companies affairFINANCIAL SUMMARY Particulars As at the end of current reporting period Total Revenue 727,040,426 Total Expenses 678,904,321 Profit or Loss before Exceptional and Extraordinary items and Tax 48,136,105 Less: Exceptional Items - Less: Extraordinary Items - Profit or Loss before Tax 48,136,105 Less: Current Tax - Deferred Tax (1,950,742) Profit or Loss After Tax 49,189,514 Details regarding energy conservationCONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO The provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company. There was a foreign exchange inflow of Rs. 168,781,370 and a foreign exchange outflow of Rs. 265,910,678 during the year under review. Details regarding technology absorptionCONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO The provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company. There was a foreign exchange inflow of Rs. 168,781,370 and a foreign exchange outflow of Rs. 265,910,678 during the year under review. Details regarding foreign exchange earnings and outgoCONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO The provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company. There was a foreign exchange inflow of Rs. 168,781,370 and a foreign exchange outflow of Rs. 265,910,678 during the year under review. Disclosures in director’s responsibility statementDIRECTORS RESPONSIBILITY STATEMENT In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submit its responsibility Statement: (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; (b) the directors had 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 at the end of the financial year and of the profit and loss of the company for that period; (c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; (d) the directors had prepared the annual accounts on a going concern basis; (e) the Company being unlisted, sub clause (e) of section 134(3) of the Companies Act, 2013 pertaining to laying down internal financial controls is not applicable to the Company; and (f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. |