S. Kumars Nationwide Ltd.: Annual Report
ANNUAL REPORT 2006-2007
BOARD OF DIRECTORS Dr. A. C. Shah – Chairman Nitin S. Kasliwal – Vice Chairman & Managing Director Anil Channa – Deputy Managing Director A. K. Choudhary – Director (Nominee of IFCI) M. H. Kulkarni – Director (Nominee of IDBI) Vijay Kalantri – Director Jyoti N. Kasliwal – Director Martin Henry – Director Dara D. Avari – Director Col. S. K. Raje – Director Govind Mirchandani – Executive Director COMPANY SECRETARY L. N. Somani BANKERS Bank of India Export-Import Bank of India The Jammu & Kashmir Bank Ltd. State Bank of Indore Industrial Development Bank of India Ltd. The Federal Bank Ltd. Indian Bank AUDITORS Messrs Haribhakti & Co. SOLICITORS Messrs Little & Co. REGISTRAR & TRANSFER AGENTS Bigshare Services Pvt. Ltd. E – 2, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (East), Mumbai - 400 072 REGISTERED OFFICE “Avadh” Avadhesh Parisar, Shree Ram Mills Premises, G. K. Marg, Worli, Mumbai - 400 018 website : www.skumars.net
CONTENTS Notice…………………………………........ Key Financials at a Glance……………..... Directors’ Report………………………..... Management Discussion & Analysis….... Auditors’ Report………………………...... Balance Sheet…………………………....... Profit and Loss Account………………..... Schedules to Accounts………………….... Significant Accounting Policies………..... Notes forming part of Accounts……….... Cash Flow Statement…………………...... Report on Corporate Governance………. 2 8 10 16 19 24 25 26 34 36 46 48
MAJOR PLANTS Menswear and Home Textiles Complex :3B Industrial Area No. 2, Agra Bombay Road, Dewas, (M.P.) Worsted Fabrics Complex :Thandavapura, Nanjangud Taluka, Mysore Dist., Karnataka. Spinning and Weaving Complex :Chamunda Standard Mills, Balgarh, Dewas, (M.P.)
1
ANNUAL REPORT 2006-2007
NOTICE
NOTICE is hereby given that the 17th Annual General Meeting of the members of S. KUMARS NATIONWIDE LIMITED will be held on Tuesday, 17th July 2007 at 4.00 p.m. at Walchand Hirachand Hall, Indian Merchants’ Chamber, Indian Merchants’ Chamber Marg,
BOARD OF DIRECTORS Dr. A. C. Shah – Chairman Nitin S. Kasliwal – Vice Chairman & Managing Director Anil Channa – Deputy Managing Director A. K. Choudhary – Director (Nominee of IFCI) M. H. Kulkarni – Director (Nominee of IDBI) Vijay Kalantri – Director Jyoti N. Kasliwal – Director Martin Henry – Director Dara D. Avari – Director Col. S. K. Raje – Director Govind Mirchandani – Executive Director COMPANY SECRETARY L. N. Somani BANKERS Bank of India Export-Import Bank of India The Jammu & Kashmir Bank Ltd. State Bank of Indore Industrial Development Bank of India Ltd. The Federal Bank Ltd. Indian Bank AUDITORS Messrs Haribhakti & Co. SOLICITORS Messrs Little & Co. REGISTRAR & TRANSFER AGENTS Bigshare Services Pvt. Ltd. E – 2, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (East), Mumbai - 400 072 REGISTERED OFFICE “Avadh” Avadhesh Parisar, Shree Ram Mills Premises, G. K. Marg, Worli, Mumbai - 400 018 website : www.skumars.net
CONTENTS Notice…………………………………........ Key Financials at a Glance……………..... Directors’ Report………………………..... Management Discussion & Analysis….... Auditors’ Report………………………...... Balance Sheet…………………………....... Profit and Loss Account………………..... Schedules to Accounts………………….... Significant Accounting Policies………..... Notes forming part of Accounts……….... Cash Flow Statement…………………...... Report on Corporate Governance………. 2 8 10 16 19 24 25 26 34 36 46 48
MAJOR PLANTS Menswear and Home Textiles Complex :3B Industrial Area No. 2, Agra Bombay Road, Dewas, (M.P.) Worsted Fabrics Complex :Thandavapura, Nanjangud Taluka, Mysore Dist., Karnataka. Spinning and Weaving Complex :Chamunda Standard Mills, Balgarh, Dewas, (M.P.)
1
ANNUAL REPORT 2006-2007
NOTICE
NOTICE is hereby given that the 17th Annual General Meeting of the members of S. KUMARS NATIONWIDE LIMITED will be held on Tuesday, 17th July 2007 at 4.00 p.m. at Walchand Hirachand Hall, Indian Merchants’ Chamber, Indian Merchants’ Chamber Marg,