Amal Ltd 2012-13

Director’s Report DearMembers, The Board of Directors presents the Annual Report of Amal Ltd together with the audited statement of accounts for the year endedMarch31, 2013. ( in thousands) Revenue fromoperations 171,610 135,380 Financial results 2012-13 2011-12 ` Other income 259 172 Total revenues 171,869 135,552 Profit | (Loss) fromoperations before tax (6,047) (33,973) Add:Writebackof balances andprior periodprovisions not required 6,491 1,962 Less:Write off of balances and short provisions of prior period 313 135 Add | (Less) tax expenses - - Add:Writebackon settlement withunsecuredcreditors - - Profit | (Loss) after tax 131 (32,146) Balance in Statement of Profit and Loss brought forward (457,720) (425,574) Balance in Statement of Profit and Loss carried forward (457,589) (457,720) Dividend Financial Performance Insurance Directors The Board regrets its inability to recomend dividends due to carried forward losses. Net sales grew by 27% to 1716 lacs.However, the margins were still under pressure and loss reduced significantly compared to previous year; the loss before exceptional items reduced from 340 lacs to 60 lacs. The reduction in loss was mainly on account of increase in selling prices, better realisation from by-product i.e. steam, control over fixed costs and slight reduction in input price of main rawmaterial i.e. Sulphur. The Company has taken adequate insurance to cover the risks to its people, plant and machineries, buildings andother assets,profits and thirdparties. According to Article 134 of the Articles of Association of the Company,Mr N C Singhal and Mr T R Gopi Kannan retires by rotation and being eligible offers themselve for reappointment at the forthcoming Annual General Meeting (AGM) scheduled on August 02, 2013. Mr S S Lalbhai was reappointed by the members at the last AGM held on July 24,2012. ` ` ` CorporateGovernance Listing A Report on Corporate Governance along with a certificate from the Statutory Auditors regarding compliance of the conditions of Corporate Governance pursuant to Clause 49 of the Listing Agreement is annexed. The Company has paid the annual listing fees for the year 2012-13 to Bombay Stock Exchange Ltd andAhmedabad Stock Exchange. FixedDeposits Safety,HealthandEnvironment (SH&E) The Company has not invited or accepted Fixed Deposits under Section 58A of the Companies Act, 1956, from the public during the period under review. The Company accords high priority to SH&E. The Company has its own effluent treatment plant at Ankleshwar designed to fully comply with the norms stipulated by the Gujarat Pollution Control Board. The treated water is discharged into common effluent discharge pipeline of Narmada CleanTech Ltd. 05