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Outcome of Board Meeting (AGM on Aug 11, 2015)

| Updated on June 12, 2015 Published on June 12, 2015

Smruthi Organics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 10, 2015, inter alia, has considered the following items:

1. Approval of Notice for Annual General Meeting to be held on August 11, 2015, for considering following items of business:

a. To consider and approve Financial Statements of the Company for the year ended March 31, 2015 including Audited Balance Sheet as at March 31, 2015 and the Statement of Profit and Loss for the year ended on that date.

b. To consider the re-appointment of Mrs. E. Vaishnavi, Director retiring by rotation.

c. To consider the appointment of Ashok Madgundi & Co. as Auditor of the Company.

d. To appoint Cost Auditors for 2015-16.

e. To Appoint Mr. E. Swapnil as Executive Director and CFO on a term of 3 years with effect from June 01, 2015 to May 31, 2018, as approved by the remuneration committee and Board.

2. Approval of Mr. H. R. Thakur, Practicing Company Secretary for appointment as scrutinizer for the e-voting and poll to be conducted for the General Meeting.

3. The variation 217% in depreciation between un-audited and audited quarterly results for the quarter ended March 31, 2015 is on account of reassessment of useful life of certain fixed assets of the Company as required under Schedule-Il of Company Act 2013.

4. During the year under review, total Gross Turnover of the Company was Rs. 7999 Lacs as compared to Rs. 10076 lacs during previous year, registering decrease of 20.61%. The Company posted lower loss of Rs. 381 lacs as against Rs. 615 lacs in the previous year registering decrease in loss of 38.05%.

Source : BSE - >www.bseindia.com

Published on June 12, 2015
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