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  • ANNUAL REPORT

    2016-2017

  • CONTENTS

    Page No

    Board of Directors 1

    Notice 2

    Report of the Board of Directors 9

    Management Discussion & Analysis Report 27

    Report of the Corporate Governance 31

    Auditors Report 43

    Balance Sheet 49

    Profit & Loss Account 50

    Schedules 51

    Cash Flow Statement 69

    Proxy 71

  • 33rd Annual Report 2016-17 Lokesh Machines Limited

    1

    BOARD OF DIRECTORS

    Mr. M Lokeswara Rao - Managing Director

    Mr. B Kishore Babu - Executive Director

    Mr. M Srinivas - Whole Time Director

    Mr. M Srikrishna - Whole Time Director

    Mr. K Krishna Swamy - Director

    Mr. B R Mahesh - Director

    Mr. R Mohan Reddy - Director

    Mr. A. Vijay Kumar - Director

    Smt. Bhavana Rao - Director

    STATUTORY COMMITTEES

    Audit Committee

    Mr. B R Mahesh - Chairman

    Mr. R Mohan Reddy - Member

    Mr. M Srinivas - Member

    Nomination & Remuneration Committee

    Mr. R Mohan Reddy - Chairman

    Mr. A Vijay Kumar - Member

    Mr. B R Mahesh - Member

    Stakeholders Relationship Committee

    Mr. R Mohan Reddy - Chairman

    Mr. B Kishore Babu - Member

    Mr. M Srikrishna - Member

    Chief Financial Officer (CFO)

    Mr. V. Sudhakara Reddy

    Company Secretary

    Mr. D. Raghavendra Rao

    BANKERS

    State Bank of Hyderabad

    Punjab National Bank

    State Bank of India

    Indusind Bank Limited

    AUDITORS

    M/s Brahmayya & Co.,

    Chartered Accountants

    Flat no 403 & 404,Golden Green Apartments

    Irrum Manzil Colony

    Hyderabad- 500 082

    INTERNAL AUDITORS

    M V Narayana Reddy & Co.

    Chartered Accountants

    Ameerpet, Hyderabad

    REGISTRARS & TRANSFER AGENTS

    Karvy Computershare Pvt. Ltd.

    Karvy Selenium Tower B,

    Plot No.31-32,Gachibowli

    Financial District, Nanakramaguda,

    Serilingampally,

    Hyderabad - 500 008

    Phone : +91 40 67161524

    Fax : +91 40 23001153

    REGISTERED OFFICE

    B-29, EEIE, Stage II

    Balanagar

    Hyderabad - 500 037,Telangana, India

    CIN: L29219TG1983PLC004319

    WORKS

    Temple Road,

    Bonthapally,

    Medak District,

    T.G

    B - 25 & 36,

    EEIE, Stage II,

    Balanagar,

    Hyderabad, T.G

    Ravalkol Village,

    Medchal Mandal,

    Rangareddy Dist.

    T.G.

    Plot No 41,

    IDA Balanagar,

    Hyderabad T.G

    Plot No D260/1

    Ranjangaon

    Industrial Area,

    MIDC, Shirur, Pune,

    Maharashtra

  • 2

    33rd Annual Report 2016-17 Lokesh Machines Limited

    NOTICE

    NOTICE is hereby given that the Thirty Third Annual General Meeting of the Members of Lokesh MachinesLimited will be held on Thursday September 28th, 2017 at 11.00 A.M at Jubilee Hills International Centre, NearJubilee Hills Check Post, Road No. 14, Hyderabad - 500 033 Telangana to transact the following business:

    ORDINARY BUSINESS:

    1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial Yearended March 31, 2017 and the report of the Board of Directors and the Auditors thereon.

    2. To appoint a Director in place of Mr K Krishna Swamy (DIN: 00840887), who retires by rotation and beingeligible offers himself for re-appointment

    3. To Appointment of the Statutory Auditors of the Company:

    To appoint the auditors and to fix their remuneration by passing the following resolution as an ordinaryresolution:

    RESOLVED THAT pursuant to the provisions of Section 139, 142 and other applicable provisions, ifany, of the Companies Act, 2013 (the Act), and the Companies (Audit and Auditors ) Rules, 2014 (includingany statutory modification(s) or re-enactment thereof, for the time being in force) and pursuant torecommendation of the Audit Committee and the Board of Directors, M/s. K.S.Rao & Co., CharteredAccountants, Hyderabad, (ICAI Firm Regn. No.003109S) be and are hereby appointed as Statutory Auditorsof the Company in place of M/s. Brahmayya & Co., Hyderabad (ICAI Firm Regn. No.000513S) whosetenure expires at this Annual General Meeting, at such remuneration plus reimbursement of outof-pocket,travelling and living expenses, etc., as may be mutually agreed between the Board of Directors of theCompany and the said Auditors.

    RESOLVED FURTHER THAT M/s. K.S.Rao & Co., Chartered Accountants, shall hold office for theperiod of five years from the conclusion of this 33rd Annual General Meeting of the Company till theconclusion of 38th Annual General Meeting of the Company (subject to ratification of the appointment bymembers at every Annual General Meeting held after this Annual General Meeting).

    RESOLVED FURTHER THAT the Board of Directors of the Company (including its Committee thereof),be and is hereby authorized to do all such acts, deeds, matters and things as may be considered necessary,desirable or expedient to give effect to this Resolution.

    SPECIAL BUSINESS:

    4. Ratification of Remuneration to Cost Auditors:

    To Consider and if thought fit, to pass with or without modification(s) the following resolution as

    an Ordinary Resolution:

    RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any, ofthe Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014 (including any statutorymodification(s) or re-enactment(s) thereof, for the time being in force), the remuneration of Rs. 50,000/- (Rupees Fifty Thousand only) excluding taxes as may be applicable, in addition to reimbursement of allout of pocket expenses, payable to M/s DZR&Co, Cost Accountants to audit the cost records maintainedby the Company for the financial year ending March 31, 2018, be and is hereby approved and ratified.

    By Order of the BoardFor Lokesh Machines Limited

    Place: Hyderabad D. Raghavendra RaoDate:August 31, 2017 Company Secretary

  • 33rd Annual Report 2016-17 Lokesh Machines Limited

    3

    NOTES:

    1) An Explanatory Statement pursuant to Section 102 of the Companies Act, 2013 relating to the SpecialBusiness to be transacted at the Annual General Meeting is annexed hereto.

    2) A MEMBER ENTITLED TO ATTEND AND VOTE IS ENTITLED TO APPOINT A PROXY TO ATTENDAND VOTE ON POLL ON HIS / HER BEHALF AND THE PROXY NEED NOT BE A MEMBER OF THE

    COMPANY.

    Pursuant to Section 105 of the Companies Act, 2013, a person can act as a Proxy on behalf of not morethan fifty members holding in aggregate, not more than ten percent of the total share capital of theCompany. Members holding more than ten percent of the total share capital of the Company may appointa single person as Proxy, who shall not act as a Proxy for any other Member. The instrument of Proxy, inorder to be effective, should be deposited at the Registered Office of the Company, duly completed andsigned, not later than 48 hours before the commencement of the meeting

    A Proxy Form is annexed to this Report. Proxies submitted on behalf of the companies, societies, etc.mustbe supported by an appropriate resolution / authority, as applicable.

    3) Members/Proxies should bring duly filled Attendance Slips sent herewith to attend the meeting.

    4) The Annual Report of the company and other documents proposed to be sent through e-mailwould alsobe made available on the Companys website

    5) Register of Directors and key managerial personnel and their shareholding maintained under section 170of the companies Act, 2013 will be available for inspection by the members at the meeting.

    6) Register of contracts or arrangements in which directors and Key managerial personnel are interestedMaintained under Section 189 of the Companies Act, 2013 will be available for inspection by the membersat the registered office of the Company

    7) Pursuant to the provisions of Section 91 of the Companies Act, 2013, The Register of Members andShare Transfer Books of the Company will remain closed from 22nd September, 2017 to 28th September,2017 (both days inclusive).

    8) Pursuant to the provisions of Section 72 of the Companies Act, 2013, shareholders are entitled to makenomination in respect of shares held by them in physical form. Shareholders desirous of making nominationsare requested to send their requests in prescribed Form (which will be made available on request) to theRegistrar and Share Transfer Agents.

    9) Members must quote their Folio Number/ Demat Account number and contact details such as emailaddress, contact number etc in all correspondence with the Company/Registrar and Share Transfer Agents.

    10) Members who have not registered their e-mail addresses so far, are requested to register their e-mailaddress for receiving all communication including Annual Report, Notices, Circulars, etc. from the Company

    11) Members are requested to address all their correspondence including change of address, mandates etc.to the registrars viz. M/s. Karvy Computershare Private Limited, Karvy Selenium Tower B, Plot No.31-32,Gachibowli , Financial District, Nanakramguda Serilingampally, Hyderabad - 500 008, Phone : +91 4067161524, Fax : +91 40 23001153.

    12) The Companys Equity shares are listed at Bombay Stock Exchange Ltd and National Stock ExchangeMumbai and the company has paid the Listing Fees to the said Stock Exchange for the financial year2016-17.

    13) Shareholders are requested to immediately notify the REGISTRARS AND SHARE TRANSFER AGENTSor the DEPOSITORY PARTICIPANTS (in case of shares which have been dematerialised) of any changein their address and/or bank account details to ensure correct and prompt receipt of the Dividend Warrants.

    14) Corporate Members are requested to submit a duly certified copy of the Board Resolution authorisingt

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