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Company Information

Home » Market » Company Information

Bombay Wire Ropes Ltd.

May 18, 11:38
51.25 -2.50 ( -4.65 %)
 
VOLUME : 54
Prev. Close 53.75
Open Price 52.70
TODAY'S LOW / HIGH
51.25
 
 
 
55.40
Bid PRICE (QTY.) 52.80 (26)
Offer PRICE (Qty.) 53.75 (7)
52 WK LOW / HIGH
2.27
 
 
 
105.20
Bombay Wire Ropes Ltd. is not traded in NSE
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Market Cap. ( ₹ ) 27.36 Cr. P/BV 4.01 Book Value ( ₹ ) 12.79
52 Week High/Low ( ₹ ) 105/2 FV/ML 1/1 P/E(X) 186.64
Bookclosure 29/09/2020 TTM EPS ( ₹ ) -0.21 Div Yield (%) 0.00
DIRECTOR'S REPORT
You can view full text of the latest Director's Report for the company.
Year End :2014-03 Dear Members,

The Directors hereby present the 53rd Annual Report of the Company along with the audited statement of accounts for the year ended 31st March, 2014.

FINANCIAL RESULTS:                           2013-2014       2012-2013
                                                Rupees          Rupees

Profit before Tax                           (2,70,103)    11,52,05,383

Less:     Provision for Current Tax                  -     2,11,00,000

Add: MAT Credit Entitlement                          -     2,08,75,770

Net Profit for the Year                     (2,70,103)    11,49,81,153

Less:     Balance of Loss brought forward            -  (10,86,91,429)

Fund Available for Appropriation            (2,70,103)       62,89,724
Add: Appropriations:

Dividend on 35000, 9.50% Non-Convertible
Cumulative Redeemable Preference Shares 
for earlier years                                    -       28,01,095
Dividend on 35000, 9.50% Non-Convertible Redeemable Preference Shares for the Year. - 1,38,450

Corporate Dividend Tax on Preference Shares          -        4,76,870

Proposed Dividend on Equity Shares                   -       53,39,500

Corporate Dividend Tax on Equity Shares              -        9,07,448

Transfer to General Reserve                          -     1,25,00,000

Total Appropriation                                  -     2,21,63,363
Balance carried to Balance Sheet (2,70,103) (1,58,73,639)

DIVIDEND:

Your directors regret their inability to recommend any dividend for the year.

YEAR UNDER REVIEW:

The Board of the Company is in the process of evaluating alternative business opportunities which the Company may choose to enter into in the future.

DIRECTORS:

In accordance with the Articles of Association of the Company, Dr.Anurag Kanoria, Director of the Company, retires by rotation and is eligible for re-election.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 with respect to Directors' Responsibility Statement, it is hereby confirmed:

(i) that applicable accounting standards have been followed alongwith proper explanation to any material departure in the preparation of the annual accounts for the financial year ended 31st March, 2014;

(ii) that the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at the end of the financial year and of the profit or loss of the Company of the year under review;

(iii) that 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 irregularities;

(iv) that the Directors have prepared the annual accounts on a going concern basis.

AUDITORS :

Messrs Singhi & Company, Chartered Accountants, Auditors of the Company, retire, and being eligible, offer themselves for re appointment.

AUDITORS' REPORT :

The observations made in the Auditors' Report are self-explanatory and do not require further explanation/comment.

DEPOSITS :

There are no deposits outstanding nor has the Company accepted any deposits from the public during the year.

INSURANCE :

All properties of the Company have been adequately insured.

PARTICULARS OF EMPLOYEES :

There is no employee covered by section 134 of the Companies Act, 2013 read with Companies (Particulars of employees) Rules, 1975 as amended.

CONSERVATION OF ENERGY :

Particulars in respect of conservation of energy, technology absorption and foreign exchange earnings outgo as required under section 217(1)(e) of the Companies Act, 1956 are given in a separate Annexure A attached hereto which forms part of this Report.

CERTIFICATE OF COMPLIANCE :

A certificate of compliance from Shri Murlidhar R. Roongta, Company Secretary, as required by virtue of the provision to section 383A(1) of the Companies Act, 1956, to the effect that the Company has complied with all the provisions of the Companies Act, is given in a separate Annexure B attached hereto which forms part of this Report.

CORPORATE GOVERNANCE :

The shares of the Company are listed with the Bombay Stock Exchange. The code of corporate governance as introduced by the Securities and Exchange Board of India (SEBI) is not applicable to the Company as its paid up share capital is below the stipulated figure laid down by SEBI in this regard.

                                 By Order of the Board of Directors
                                    For BOMBAY WIRE ROPES LIMITED

Place : Mumbai,             Raj Kumar Jhunjhunwala   Dr. Anurag Kanoria
Dated : 30th June, 2014             Director              Director