Annual Report for the year 2012

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iv. Notice Period: Not Applicable v. Severance fees: NIL vi. Stock options: NIL. The Company does not have a system of stock options. Mr. S. Ramakrishnan is interested in the said resolution. Mr. S. Mahesh and Mr. Ritesh Ramakrishnan being related to Mr. S. Ramakrishnan are deemed to be interested in the resolution. None of the other Directors of the Company are interested in the said resolution. th 30 May, 2012 By Order of the Board of Directors Registered Office: th 4 Floor, Himalayas, Geetmala Complex Near Shah Industrial Estate, Govandi East, Mumbai 400 088 Namrata Malushte Company Secretary 8 24th Annual Report 2011-12
Directors' Report st Your Directors are pleased to present the Twenty Fourth Annual Report and the audited accounts for the financial year ended 31 March, 2012. FINANCIAL PERFORMANCE (` in Lacs) Current Year ended Previous Year ended 31.03.2012 31.03.2011 Operating Income 16769.25 12687.62 Other Income 351.75 200.13 Profit before Interest, Depreciation and Tax 2068.54 2561.07 Less: Financial Cost 379.69 618.72 Depreciation 1159.94 1054.11 Profit before Tax and Prior Year Adjustment 528.92 888.24 Less: Provision for Taxation (9.56) 13.00 Profit After Tax and Exceptional Items 538.48 875.24 Add: Balance brought forward from previous year 3528.67 3207.20 Amount available for appropriation 4067.15 4082.44 Appropriations: Transfer to General Reserve - 25.00 Transfer to Capital Redemption Reserve 800.00 - Transfer to Tonnage Tax Reserve - 159.00 Dividend paid on Preference Shares 75.17 76.00 Tax on dividend paid on Preference Shares 12.19 12.62 Interim Dividend paid on Equity Shares - 109.79 Tax on Interim dividend on Equity Shares - 18.23 Proposed Dividend on Equity Shares 109.79 131.75 Tax on proposed dividend on Equity Shares 17.81 21.37 Net surplus in Statement of Profit and Loss Account 3052.19 3528.68 DIVIDEND In view of the turnaround performance of the Company, the Board of Directors recommends a Dividend of 5% on the Equity shares for the current financial year. This Dividend is subject to the approval of the Members at the Twenty fourth Annual General Meeting to be st held on 21 July, 2012.The Company has during the year paid dividend on Preference shares amounting to ` 87.36 lacs including dividend distribution tax. The total outflow on account of Equity and Preference dividend is ` 2.14 crores including dividend distribution tax. REVIEW OF OPERATIONS During the year, the turnover of the Company increased from ` 126.87 crores in the previous year to ` 167.69 crores in the current year. In the previous year 2010-11, the expenditure on fuel oil constituted 36% of the revenue which has increased to 44% during the current year. This constituted an impact of 8% on the EBIDTA. The Company was able to successfully pass on some expenses to the customers and also had better utilization of tonnage. Therefore the Company has been able to post a Profit After Tax of ` 5.38 crores and cash profit of ` 16.98 crores As regards, containerized logistics, Shreyas has through its wholly owned subsidiary Shreyas Relay Systems Limited (SRS), ventured into road transportation, warehousing and rail movement. SRS now has moved towards a complete backward integrated model thereby offering its clientele various services. Shreyas is now concentrating on the Lead Logistics Provider concept whereby it offers a single window solution to its clients for their entire logistics needs. SRS has added branches and satellite branches at various locations within India. It has also hired adequate manpower in view of its expansion plans in the logistics space including road, rail transportation and freight forwarding. The turnover of the Company increased more than 50% from ` 113.31 crores to ` 172.18 crores. However given the gestation period, the Company has been able to post a Net Profit of the wholly owned subsidiary of ` 2.19 crores and cash profit of ` 4.07 crores. At a consolidated level, the Company has been able to achieve a top line growth of over 42% from ` 190.38 crores in the year 2010- 2011 to ` 270.77 crores in the year 2011-2012. The Net Profit After tax was ` 5.63 crores in the current year and the cash profit was ` 19.13 crores. As requested by the preference shareholders, the Company has early redeemed 9.50% Non convertible Cumulative Redeemable th Preference Shares of ` 100/- each on 28 March, 2012 out of internal accruals. The Company has created Capital Redemption Reserve to that effect. 24th Annual Report 2011-12 9
Page 3 and 4: Letter to Shareholders Dear Shareho
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l. Taxation The Holding Company has
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4) RESERVE AND SURPLUS PARTICULARS
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23) Fuel cost (AMOUNT IN `) Particu
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(f) Descriptions of the Plan Assets
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33. MANAGERIAL REMUNERATION* (Inclu
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RELATED PARTY TRANSACTIONS (as on 3
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RELATED PARTY TRANSACTIONS (as on 3
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Directors' Report st Your Directors
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a) in the preparation of the annual
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Annexure to the Auditors’ Report
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STATEMENT OF PROFIT AND LOSS FOR TH
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NOTES TO THE FINANCIAL STATEMENTS F
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NOTE 2 : SHARE CAPITAL (AMOUNT IN `
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st 24. The financial statements for
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(a) Actuarial Assumptions at the Va
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34. Other disclosures as per Schedu
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TRANSACTION Holding Company* Subsid
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STATEMENT PURSUANT TO SECTION 212 O
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HAYTRANS (INDIA) LIMITED AUDITORS M
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HAYTRANS (INDIA) LIMITED ANNEXURE T
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HAYTRANS (INDIA) LIMITED STATEMENT
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HAYTRANS (INDIA) LIMITED Notes to f
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HAYTRANS (INDIA) LIMITED NOTE 5 : S
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HAYTRANS (INDIA) LIMITED NOTE 11 :
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HAYTRANS (INDIA) LIMITED 19. In the
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HAYTRANS (INDIA) LIMITED RELATED PA
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24th ANNUAL REPORT ATTENDANCE SLIP
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Annual Report for the year 2012

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