Annual Report 2013-14 - Bombay Stock Exchange...RAKSHIT M. SHAH & CO. CHARTERED ACCOUNTANTS 402, Wall Street-1, Opp. Orient Club, Near Gujarat College, Ellisbridge, Ahmedabad - 380006

Annual Report 2013-14

BOARD OF DIRECTORS Snehal B. Patel - Chairman & Whole Time Director

Naishadh B. Patel - Director

Olga Menezes Vincentpaul - Director

Shankar Prasad Bhagat - Director

COMPANY SECRETARY Dharmesh Kiranbhai Patel

AUDITORS RAKSHIT M. SHAH & CO.

CHARTERED ACCOUNTANTS

402, Wall Street-1, Opp. Orient Club,

Near Gujarat College, Ellisbridge,

Ahmedabad - 380006

BANKERS Panjab National Bank

New Cloth Market, Ram Nivas,

Opp. Raipur Gate,

Ahmedabad-380022

REGISTERED OFFICE 1st Floor, Maruti House,

Opp. Sales India,

Off. Ashram Road,

Ahmedabad – 380009

REGISTRAR AND SHARE TRANSFER AGENTS SHAREPRO SERVICES (INDIA) PRIVATE LIMITED

Building no. 13 AB, 2nd Floor,

Samhita Warehousing Complex,

Sakinaka Telephone Exchange Lane,

Off. Andheri Kurla Road, Sakinaka,

Andheri East, Mumbai – 400072

1 Notice 2

2 Director Report 6

3 Auditor Report 9

4 Balance Sheet 13

5 Statement of Profit & Loss 14

6 Cash Flow Statement 15

7 Notes 16

8 Proxy Form 26

Page | 2

NOTICE

Notice is hereby given that the Annual General Meeting of the Members of Oasis Tradelink

Limited will be held on Tuesday, 30th September, 2014 at 11.30 a.m. at the Registered

Office of the Company at 1st Floor, Maruti House, Opp. Sales India, Off. Ashram Road,

Ahmedabad – 380009 to transact the following business:

ORDINARY BUSINESS:

1. To receive, consider and adopt the audited Balance Sheet as at 31st March, 2014 and

Statement of Profit & Loss for the year ended 31st March, 2014 together with the

Reports of the Directors & Auditors thereon.

2. To appoint a Director in place of Mr. Snehal Patel, who retires by rotation and being

eligible, offers himself for reappointment.

3. To re-appoint the Auditors and to fix their remuneration and in this regards pass with

or without modification(s), the following resolution as an Ordinary Resolution:

“RESOLVED THAT pursuant to the provisions of Section 139 of the Companies Act,

2013, and rules made thereunder, and pursuant to recommendations of the audit

committee, M/s. Rakshit M Shah & Co., Chartered Accountants, be and is hereby re-

appointed as the Statutory Auditors of the Company to hold office from the conclusion

of this Annual General Meeting till the conclusion of the Fourth consecutive Annual

General Meeting (subject to ratification of the appointment by the members at every

AGM held after this AGM), at a remunerations to be decided by Mr. Snehal B. Patel,

Whole Time Director of the Company in consultation with the Auditors.”

SPECIAL BUSINESS

4. 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 Sections 149, 152 and all other

applicable provisions of the Companies Act, 2013 and the rules made thereunder

(including any statutory medication(s) or re-enactment thereof for the time being in

force), Ms. Olga Menezes Vincentpaul (DIN: 02030682) who was appointed as a

Director and whose term expires at this Annual General Meeting and in respect of

whom the Company has received a notice in writing under Section 160 of the

Companies Act, 2013 from a member, signifying his intension to propose Ms. Olga

Menezes Vincentpaul as a candidature for the office of Director of the Company, be and

is hereby appointed as an Independent Director of the Company to hold office for a

term of five consecutive years w.e.f. 30th September, 2014 and not liable to retire by

rotation.”



“RESOLVED THAT pursuant to the provisions of Sections 149, 152 and all other

applicable provisions of the Companies Act, 2013 and the rules made thereunder

(including any statutory medication(s) or re-enactment thereof for the time being in

force) Mr. Shankar Prasad Bhagat (DIN 01359807), who was appointed as an

Additional Director pursuant to the provisions of Section 161 of the Companies Act,

2013 and who holds office up to the date of ensuing Annual General Meeting and in

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respect of whom the Company has received a notice in writing under Section 160 of

the Companies Act, 2013 from a member, signifying his intension to propose Mr.

Shankar Prasad Bhagat as a candidature for the office of Director of the Company, be

and is hereby appointed as an Independent Director of the Company to hold office for

a term of five consecutive years w.e.f. 30th September, 2014 and not liable to retire by

rotation.”



“RESOLVED THAT pursuant to the provisions of Sections 161 and all other applicable

provisions of the Companies Act, 2013 and the rules made thereunder (including any

statutory medication(s) or re-enactment thereof for the time being in force) Mr.

Naishadh Patel, (DIN 01672929), who was appointed as an Additional Director of the

Company by the Board of Directors, in terms of Section 161 of the Companies Act,

2013 and whose term of office expires at the Annual General Meeting and in respect of

whom the Company has received a notice in writing from a member, signifying his

intension to propose Mr. Naishadh Patel as a candidature for the office of Director of

the Company, be and is hereby appointed as a Director of the Company whose period

of office shall be liable to determination by retirement of directors by rotation.”

7. 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 61 and all other applicable

provisions, if any of the Companies Act, 2013 and the Articles of Association of the

Company, the existing Authorised Share Capital of the Company be and is hereby

increased from Rs. 7,50,00,000/- to Rs. 10,50,00,000/- by way of addition of

30,00,000 Equity Shares of Rs 10/- each aggregating to Rs. 3,00,00,000/-.

RESOLVED FURTHER THAT the Clause V of the Memorandum of Association of the

Company be substituted with the following new Clause:

V. The Authorised Share Capital of the Company is Rs. 10,50,00,000/- (Rupees

Ten Crore Fifty Lacs Only) divided into 1,05,00,000 Equity Shares of Rs. 10/-

(Rupees Ten Only) each.

RESOLVED FURTHER THAT Mr. Snehal B. Patel, Whole Time Director of the

Company, be and is hereby authorized to do and perform all such other acts, deeds

and things as may be necessary or desirable to give effect to the foregoing resolution.”

By Order of the Board of Directors

Date : 05/09/2014 Dharmesh Patel

Place : Ahmedabad Company Secretary

Registered Office:

1st Floor, "MARUTI HOUSE",

Opp. Sales India, Off Ashram Road,

Ahmedabad - 380009.

CIN: U51909GJ1996PLC 031163

Page | 4

NOTES:

(a) The explanatory statement as required under section 102 of The Companies Act, 2013

sets out all material facts relating to the business mentioned under item no. 4 to 6 are

annexed hereto.

(b) A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO

APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND THE PROXY

NEED NOT BE A MEMBER. Proxies in order to be effective must be received by the

company not less than 48 hours before the meeting.

(c) Members / proxies should bring their copy of Attendance Slip (duly completed) when

attending the Meeting.

(d) Members who hold shares in dematerialised form are requested to write their Client ID

and DP ID Numbers and those who hold shares in Physical form are requested to write

their Folio Number in the Attendance Slip for attending the Meeting.

(e) Members seeking any information with regard to accounts are requested to write to

the Company at least 10 days before the meeting so as to enable the management to

keep the information ready.

(f) Corporate Members intending to send their authorized representatives to attend the

meeting are requested to send to the Company a certified copy of the Board resolution

authorizing such a representative to attend and vote on their behalf at the meeting.

(g) In case of joint holders attending the Meeting, only such joint holder who is higher in

the order of names will be entitled to vote.

(h) The Register of Members and the Transfer Books of the Company will remain closed

from 22.09.2014 to 28.09.2014, both days inclusive.

(i) Members are requested to notify immediately any change in their addresses and/or the

Bank Mandate details to the Company’s Registrars and Share Transfer Agents,

Sharepro Services (India) Pvt. Ltd., for shares held in physical form and to their

respective Depository Participants (DP) for shares held in electronic form.

(j) The Ministry of Corporate Affairs (vide circular nos. 17/2011 and 18/2011 dated April

21, 2011 and April 29, 2011 respectively) has undertaken a “Green Initiative in

Corporate Governance” and allowed companies to share documents with its

shareholders through an electronic mode. A recent amendment to the Listing

Agreement with Stock Exchanges permits companies to send soft copies of the Annual

Report to all those shareholders who have registered their email address for the said

purpose. Members are requested to support this Green Initiative by registering /

updating their email address for receiving electronic communication.

Page | 5

EXPLANATORY STATEMENT PURSUANT TO THE PROVISIONS OF SECTION 102

OF THE COMPANIES ACT, 2013

Item No. 2, & 4 to 6:

Mr. Snehal Patel, Whole Time Director of the Company, who associates with the company

since 2009 and who retires by rotation and being eligible, offers himself for

reappointment.

Mr. Shankar Prasad Bhagat, Mr. Naishadh Patel and Ms. Olga Menezes Vincentpaul, whose

terms expires at the conclusion of the ensuing Annual General Meeting and eligible to for

reappointment.

Mr. Naishadh Patel and Mr. Snehal Patel are brothers. Further except Ms. Olga Menezes

Vincentpaul and Mr. Shankar Prasad Bhagat, being an appointee, none of the Directors are

concerned / interested in the resolution except to the extent of their shareholding.

Name of Director Snehal Patel Shankar Prasad

Bhagat

Naishadh Patel Olga Menezes

Vincentpaul

Date of Birth 03/07/1969 06/10/1951 22/06/1975 16/02/1962

Date of Appointment on

Board 12/03/2009 15/10/2013 27/12/2013 01/12/1998

Expertise in specific

functional area Production Finance

Sales &

Marketing Marketing

Qualifications B.E Industrial &

Production

Chartered

Accountant MBA

B.A

(Psychology)

Directorship in other

Companies 1 4 1 1

Membership in

committees NIL 2 NIL NIL

Shareholding of

Director in the Company 328362 NIL 293860 108

Item No. 7:

The Company in order to meet its growth objectives and to strengthen its financial

position may be required to generate long term resources by issuing securities. It is

therefore deemed appropriate to increase the Authorised Share Capital of the Company

from Rs. 7,50,00,000/- to Rs. 10,50,00,000/- and for that purpose, the Memorandum of

Association of the Company is proposed to be suitably altered.

Your Directors recommend the proposed resolutions giving effect to the above

amendments for your approval.

None of the Directors of the Company is deemed to be interested or concerned in the

resolution except to the extent of their shareholding.

Page | 6

DIRECTORS’ REPORT

To

The Members,

Oasis Tradelink Limited.

Your Directors present the Annual Report of your Company together with the Audited

Statement of Accounts and the Auditors’ Report of your company for the financial year

ended, 31st March, 2014.

FINANCIAL HIGHLIGHTS

Particulars 2013-2014 2012-2013

Income for the year was 1,35,72,59,102 73,57,64,664

Profit before Financial Charges, Depreciation and Taxation

1,14,25,149 1,03,96,929

Out of which, Provisions have been

made for :-

Financial Charges 64,24,183 66,64,102

Depreciation 19,02,230 16,82,292

Provision for Taxation :

(i) Current Income Tax

(ii) Deferred Tax

7,00,000

(11,898)

3,00,000

4,38,104

Profit after Income Tax 24,10,634 13,12,431

DIVIDEND

In order to plough back the profits, Your Directors do not recommend any dividend for

the year under review.

DIRECTORS

During the year, Mr. Shankar Prasad Bhagat and Mr. Naishadh Patel were appointed

as Additional Directors and they shall hold office up to the date of the ensuing AGM

and Ms. Olga Menezes Vincentpaul, whose term will be expired at the conclusion of

the ensuing AGM. The Company has received requisite notice in writing from a

member proposing them for appointment as Directors.

Mr. Snehal Patel, Whole Time Director of the company who is liable to retire by

rotation, being eligible for reappointment, offers himself for reappointment.

DEPOSITS

The company has neither invited nor accepted any fixed deposit from the public

during the year within the meaning of section 58A of companies Act, 1956 and the

companies’ Acceptance & Deposits Rules, 1975 as amended from time to time.

Page | 7

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956,

with respect to Directors’ Responsibility Statement, it is hereby confirmed that:

1. in preparation of the Annual Accounts, the applicable accounting standards

have been followed.

2. the Directors had selected such Accounting Policies and applied them

consistently and made judgements and estimates that are reasonable and

prudent so as to give a true and fair view of the state of affairs of the company

at the end of the financial year and of the profit or loss of the company for that

period.

3. the Directors had taken proper and sufficient care for the maintenance of

adequate accounting records in accordance with the provisions of this Act for

safeguarding the assets of the company and for preventing and detecting fraud

and other irregularities.

4. the Directors had prepared the Annual Accounts on a going concern basis.

DISCLOSURES UNDER SECTION 217(1)(D) OF THE COMPANIES ACT, 1956

Except as disclosed elsewhere in this report, there have been no material changes and

commitments which can affect the financial position of the Company occurred between

the end of the financial year of the Company and date of this report.

PARTICULARS OF EMPLOYEES

There is no employee in the Company whose particulars are required to be given

under section 217(2A) of the Companies Act, 1956 read with the Companies

(Particulars of Employees) Rules, 1975, as amended.

AUDITORS

M/s. Rakshit M Shah & Co., Chartered Accountants, having its office at Ahmedabad,

will retire at the ensuing Annual General meeting of the Company and being eligible

offer themselves for re-appointment. Your directors recommend their re-appointment

as Statutory Auditors of the Company for the next financial year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN

EXCHANGE EARNINGS AND OUTGO

The particulars as required under the provisions of Section 217(1)(e) of the

Companies Act, 1956 in respect of conservation of energy and technology absorption

have not been furnished considering the nature of activities undertaken by the

company during the year under review. Further during the year under review, the

Company has neither earned nor used any foreign exchange.

Page | 8

ACKNOWLEDGEMENTS

Your Directors place on record their gratitude for the continuing support of

Shareholders, bankers and Business associates at all levels.

By Order of the Board of Directors

Chairman

Date : 05/09/2014

Place : Ahmedabad

Page | 9

Page | 10

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2003 (“theOrder”) issued by the Central

Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a

statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act, we report that:

a. We have obtained all the information and explanations which to the best of our knowledge and

belief were necessary for the purpose of our audit;

b. In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books

c. The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this

Report are in agreement with the books of account.

d. In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

e. On the basis of written representations received from the directors as on March 31, 2013, and

taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

f. Since the Central Government has not issued any notification as to the rate at which the cess is

to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

For, RAKSHIT M. SHAH & Co.

Chartered Accountants

Firm Registration No: 127338W

Rakshit M. Shah

(Partner)

Membership No: 123368

Place: Ahmedabad

Date: 05/09/2014

Page | 11

OASIS TRADELINK LIMITED

ANNEXURE TO INDEPENDENT AUDITOR’S REPORT

Referred to in our Audit Report of even date:

I. (a) The company has maintained proper records showing full particulars including quantitative

details and situation of fixed assets.

(b) Fixed assets have been physically verified by the management at reasonable intervals; No

material discrepancies were noticed on such verification.

(c) No substantial part of fixed assets has been disposed off during the year, and it has not

affected the going concern.

II. (a) Physical verification of inventories is conducted by the management at reasonable

intervals..

(b) The company has followed reasonable and adequate procedure for physical verification of

inventories.

(c) Material discrepancies if any noticed on physical verification are properly dealt with in the

books of accounts.

III. The company has not taken any secured loans but unsecured loans from companies or firms or

other parties covered in the register maintained u/s 301 of the companies Act- 1956.

IV. In our opinion and according to the information and explanations given to us, there are adequate

internal control procedures commensurate with the size of the company and the nature of its

business with regard to finished goods, equipment and other assets and with regard to the sale of

goods.

V. (a) According to the information and explanation given to us, we are of the opinion

that the particulars of contracts or arrangements referred to in section 301 of the companies

Act 1956 have been entered in the register required to be maintained under that section.

(b) In our opinion and according to the information and explanation given to us, the transactions

made in pursuance of contracts or arrangements entered in the register maintained under

section 301 of the Companies Act, 1956 are made at price which are reasonable having

regard to prevailing market prices at the relevant time.

VI. In our opinion and according to the information and explanation given to us the company has not

accepted any deposits in pursuance to provisions of section 58A and 58AA of the Act.

VII. Internal Audit is applicable to the company. However, the company has Internal Audit System

commensurate with the size and nature of its business.

VIII. The company has maintained cost records required under clause (d) of sub-section (1) of section

209 of the Companies Act, 1956.

Page | 12

IX. (a) The company is regular in depositing with appropriate authorities undisputed statutory dues

applicable to it.

(b) According to the information and explanations given to us, no undisputed amounts payable

in respect of income tax, wealth tax, services tax, sales tax, custom duty, excise duty and

cess were in arrears, as at 31st March, 2014 for a period of more than six months from the

date they became payable.

X. Company has not made any accumulated losses at the end of financial year and it has not incurred

any cash losses in the immediately preceding financial year.

XI. In our opinion, the Company has not defaulted in repayment of dues to financial institution, bank

or debenture holders.

XII. In our opinion Company has not advanced or granted loans/ advances against security by way

pledge of shares, debentures and other securities.

XIII. In our opinion and according to information and explanations given to us the company is not chit

fund or a nidhi or mutual benefit fund/society. Accordingly, the provisions of clause 4(xiii) of the

Order are not applicable to the company.

XIV. According to information and explanations given to us the company is not dealing in or trading in

shares, securities, debentures and other investments. Accordingly, provisions of clause 4(xiv) of

the Order are not applicable to the company.

XV. On the basis of records examined by us and information provided by the management, we are of

the opinion that the company has not given guarantees for loans taken by others from banks or

financial institutions.

XVI. In our opinion, the loans raised by the company during the year have been applied for the purpose

for which it was raised.

XVII. Based on an overall examination of the Balance Sheet of the company and a review of the

consolidated fund flow statement for the year, we report that no funds raised on short-term basis

have been used for long-term investment.

XVIII. The company has not made any preferential allotment of shares to parties and companies covered

in the register maintained u/s 301 of the Act, during the year.

XIX. The company has not issued any debentures during the year. Therefore provisions of clause 4(xix)

of the Order are not applicable to the company.

XX. The company has not raised money from the public during the year under audit.

XXI. According to the information and explanation given to us, no fraud on or by the company has been

noticed or reported during the year.

Particulars Note No.

AS AT 31/03/2014 AS AT 31/03/2013

Rs. Rs.I. EQUITY AND LIABILITIES(1) Shareholder's Funds(a) Share Capital 1 5,29,16,410 2,45,95,900 (b) Reserves and Surplus 2 13,17,474 21,84,925 (c) Money received against share warrants ‐ ‐

(2) Share Application money pending allotment ‐ 1,04,70,200

(3) Non‐Current Liabilities(a) Long‐Term Borrowings 3 8,00,000 1,33,12,240 (b) Deferred Tax Liabilities (Net) 4,58,088 4,69,986 (c) Other Long Term Liabilities ‐ ‐ (d) Long Term Provisions ‐ ‐

(4) Current Liabilities(a) Short‐Term Borrowings 4 5,71,93,004 3,98,54,504 (b) Trade Payables 5 83,93,244 24,49,593 (c) Other Current Liabilities 6 1,94,03,969 7,05,438 (d) Short‐Term Provisions 7 18,94,647 22,11,153

Total Equity & Liabilities 14,23,76,837 9,62,53,940 II.ASSETS Rs. Rs.(1) Non‐Current Assets(a) Fixed Assets 8 (i) Gross Block 1,42,80,334 1,15,56,419 (ii) Depreciation 39,00,556 19,98,325 (iii) Net Block 1,03,79,779 95,58,094 (b) Non‐current investments ‐ ‐ (c) Deferred tax assets (net) ‐ ‐ (d) Long term loans and advances 9 74,500 74,500 (e) Other non‐current assets ‐ ‐

(2) Current Assets(a) Current investments ‐ ‐ (b) Inventories 6,66,58,051 4,61,36,843 (c) Trade receivables 10 4,22,59,486 2,79,99,530 (d) Cash and cash equivalents 11 2,09,28,197 1,18,47,709 (e) Short‐term loans and advances 12 34,000 2,52,720 (f) Other current assets 13 20,42,824 3,84,544

Total Assets 14,23,76,837 9,62,53,940 NOTES TO ACCOUNTS 21Schedules referred to above and notes attached there to form an integral part of Balance SheetThis is the Balance Sheet referred to in our Report of even date.

For, RAKSHIT M. SHAH & CO.Chartered Accountants

Naishadh Patel(WHOLE TIME DIRECTOR) (ADDITIONAL DIRECTOR)

(CA. RAKSHIT M. SHAH) Menezes Olga Vincentpaul Dharmesh Patel(Partner) (DIRECTOR) (COMPANY SECRETARY)Membership No. : 123368Firm Reg. No.: 127338WPLACE: Ahmedabad PLACE: AhmedabadDATE: 05/09/2014 DATE: 05/09/2014

Page | 13

OASIS TRADELINK LIMITEDBALANCE SHEET AS ON 31st MARCH, 2014

For, and on behalf of the Board of Directors

Snehal Patel

Sr. No

Particulars Note No. AS AT 31/03/2014 AS AT 31/03/2013

Rs. Rs.I Revenue from operations 14 1,35,71,23,053 73,38,27,462 II Other Income 1,36,049 19,37,202

III III. Total Revenue (I +II) 1,35,72,59,102 73,57,64,664 IV Expenses:

Purchase and Direct Expenses 15 1,35,53,20,377 71,87,58,629 Purchase of Stock‐in‐Trade ‐ ‐ Changes in inventories of finished goods, work‐in‐progress and Stock‐in‐Trade 16 (2,05,21,208) (25,24,268) Employee Benefit Expense 17 41,77,425 32,11,540 Financial Costs 18 64,24,183 66,64,102 Depreciation and Amortization Expense 19 19,02,230 16,82,292 Other Administrative Expenses 20 68,57,359 59,21,834

Total Expenses (IV) 1,35,41,60,366 73,37,14,129

VProfit before exceptional and extraordinary items and tax (III ‐ IV) 30,98,736 20,50,535

VI Exceptional Items ‐ ‐

VII Profit before extraordinary items and tax (V ‐ VI) 30,98,736 20,50,535

VIII Extraordinary Items ‐ ‐

IX Profit before tax (VII ‐ VIII) 30,98,736 20,50,535

X Tax expense: (1) Current tax 7,00,000 3,00,000 (2) Deferred tax (11,898) 4,38,104

XI Profit(Loss) from the perid from continuing operations (IX‐X) 24,10,634 13,12,431

XII Profit/(Loss) from discontinuing operations ‐ ‐

XIII Tax expense of discounting operations ‐ ‐

XIV Profit/(Loss) from Discontinuing operations (XII ‐ XIII) ‐ ‐

XV Profit/(Loss) for the period (XI + XIV) 24,10,634 13,12,431 Add:‐ Transfer from reserve ‐ ‐ Less: Proposed Dividend ‐ ‐ Less: Tax on Dividend ‐ ‐ Balance Carried Forward to Balance Sheet 24,10,634 13,12,431

XVI Earning per equity share: (1) Basic 0.46 5.34 (2) Diluted 0.46 0.53

NOTES TO ACCOUNTS 21Schedules referred to above and notes attached there to form an integral part of Profit & Loss StatementThis is the Profit & Loss Statement referred to in our Report of even date.For, RAKSHIT M. SHAH & CO.Chartered Accountants

Niashad Patel(WHOLE TIME DIRECTOR) (ADDITIONAL DIRECTOR)

(CA. RAKSHIT M. SHAH)(Partner) Menezes Olga Vincentpaul Dharmesh PatelMembership No. :123368 (DIRECTOR) (COMPANY SECRETARY)

PLACE: AhmedabadDATE: 05/09/2014 DATE: 05/09/2014

Page | 14

Snehal Patel


PLACE: Ahmedabad

OASIS TRADELINK LIMITEDPROFIT & LOSS STATEMENT FOR THE PERIOD ENDED ON 31st MARCH, 2014

Firm Reg. No.: 127338W

ParticularsA) CASH FLOW FROM OPERATING ACTIVITIES Net Profit before tax as per Profit & Loss A/c 2410634 1312431 Adjustments : Depreciation 1902230 1682292 Provision of Income Tax 700000 300000 Provision for Deferred Tax (11898) 438104

2590332 2420396 Operating Profit before working capital 5000966 3732827 Adjusted for : i) Current & Non ‐ Current Receivables (36220724) (12644330) ii) Current & Non ‐ Current Liabilites 40964176 4743452 (10796955) (23441285)

9744418 (19708458) Less : Tax Paid 428175 0 Cash generated from Operations 9316243 (19708458)NET CASH USED FROM OPERATING ACTIVITES (A) 9316243 (19708458)

B) CASH FLOW FROM INVESTING ACTIVITIES Purcahse of Fixed Assets (2723915) (8711408) Purchase of Investment 0 0 Sale of Investment 0 0 Dividend Income 0 0 Interest on Finance Cost 0 0NET CASH USED FROM INVESTING ACTIVITES (B) (2723915) (8711408)

C) CASH FLOW FROM FINANCING ACTIVITES Borrowing of Funds 0 4997240 Repayment of Borrowings (12512240) 0 Increasing in share capital 2,54,70,600 14595900 Share Application Money (10470200) 10470200 Movement in Lending 0 (29500)NET CASH FLOW FROM FINANCING ACTIVITIES (C) 2488160 30033840Net Increase in Cash & Cash Equivalents (a+b+c) 9080488 1613974 Opening Balance of Cash & Cash Equivalents 11847709 10233735 Closing Balance of Cash & Cash Equivalents 20928197 11847709Net Increase/(Decrease) in Cash & Cash Equivalents 9080488 1613974Note:

For , RAKSHIT M. SHAH & CO.Chartered Accountants

(CA. RAKSHIT M. SHAH)

Membership No. : 123368Firm Reg. No.: 127338WPLACE: AHMEDABAD PLACE: AHMEDABADDATE: 05/09/2014 DATE: 05/09/2014

Page | 15

Snehal Patel

Menezes Olga Vincentpaul Dharmesh Patel(DIRECTOR) (COMPANY SECRETARY)

Naishadh Patel(WHOLE TIME DIRECTOR) (ADDITIONAL DIRECTOR)

OASIS TRADELINK LIMITEDCASH FLOW STATEMET FOR THE YEAR ENDED 31ST MARCH, 2014

2013‐2014 2012‐2013


1. The Cash flow statement has been prepered under the "Indirect Method" as set out in accounting standard ‐3 on Cash Flow Statements Issued by the Institute of Chartered Accountants of India.2.The Previous year's figures have been regrouped whenever necessary to make them comparable with this year's figures.

Note : 1 Share Capital Rs. Rs.Sr. No

Particulars AS AT 31/03/2014 AS AT 31/03/2013

1 AUTHORIZED CAPITAL7500000 Equity Shares of Rs. 10/‐ each. 7,50,00,000 4,00,00,000

7,50,00,000 4,00,00,000 2 ISSUED , SUBSCRIBED & PAID UP CAPITAL

To the Subscribers of the Memorandum5291641 Equity Shares of Rs. 10/‐ each.Paid up Share capital by allotment 5,29,16,410 2,45,95,900 Total in Rs. 5,29,16,410 2,45,95,900

(a) Details of shareholders holding more than 5% Shares in the companySr. No


No. of (%) No. of (%) Shares Shares

Equity Shares1 Mrubhee Stock Holding Private Limited 530520 (10.03%) 315000 (12.81%)2 Snehbhar Stock Holding Private Limited 446250 (8.43%) 315000 (12.81%)3 Hygenic Palm Oils Private Limited 787470 (14.88%) 742570 (30.19%)4 Snehalbhia B. Patel 328362 (6.21%) ‐ 5 Bhikubhai P. Patel 347740 (6.57%) ‐ 6 Naishadbhai B. Patel 293860 (5.55%) ‐ 7 Union Oils Private Limited ‐ 151690 (6.17%)8 Hysafe Investment Private Limited ‐ 320000 (13.01%)

Total 2734202 (51.67%) 1844260 (74.99%)Note : 2 Reserve & Surplus Rs. Rs.Sr. No


1 Capital Reserve2 Capital Redemption Reserve ‐ ‐ 3 Securities Premium reserve ‐ ‐ 4 Debenture Redeemption Reserve ‐ ‐ 5 Revaluation Reserve ‐ ‐ 6 Shares Option Outstanding Account ‐ ‐ 7 Other Reserve (Special Reserve) ‐ ‐ 8 Surplus (Profit & Loss Account) 13,17,474 21,84,925

Balance brought forward from previous year 21,84,925 8,72,494 Preliminary Expenses ‐ ‐ Less: Tax on Regular Assessment Paid 4,28,175 ‐ Less: Transfer to Profit and Loss A/cLess: Bonus issue to Shareholder 28,49,910 ‐ Add: Profit for the period 24,10,634 13,12,431 Total in Rs. 13,17,474 21,84,925

Page | 16

OASIS TRADELINK LIMITEDNotes Forming Integral Part of the Balance Sheet as at 31 St March, 2014


Note : 3 Long‐Term Borrowings Rs. Rs.Sr. No


1 Other Unsecured Loans 8,00,000 1,33,12,240

Total in Rs. 8,00,000 13312240

Note : 4 Short Term Borrowings Rs. Rs.Sr. No


1 Loan Repayable on Demand ‐ From Bank ‐ ‐ Punjab National Bank Overdraft A/c * 5,71,93,004 3,98,54,504 ‐ From Other Parties ‐ ‐

2 Loans & Advances From Related Parties ‐ ‐ Total in Rs. 5,71,93,004 3,98,54,504

* Cash credit facility, from the Punjab National Bank are secured by the Pledge/ Hypothecation of stock, book debts and equitable mortgage of the assets of the company

Note : 5 Trades Payable Rs. Rs.Sr. No


1 Sundry Creditors for Materiel/Supplies:Local Creditors 80,73,443 19,53,565Other Creditors 3,19,801 4,96,028 Total in Rs. 83,93,244 24,49,593

Note : 6 Other Current Liabilities Rs. Rs.Sr. No


1 Other ‐ 7054382 Advance From Customer 19403969

Total in Rs. 1,94,03,969 7,05,438

Note : 7 Short Term Provisions Rs. Rs.Sr. No


1 Provision For Employees Benefit ‐ ‐ 2 Others 18,94,647 22,11,153

Total in Rs. 18,94,647 22,11,153

Page | 17

Value at the beginning

Addition during the

year

Deduction during the

year

Value at the end

Value at the

beginning

Addition during the

year

Deduction during the

year

Value at the end

WDV as on 31.03.2014

WDV as on 31.03.2013

I Tangible AssetsAir Conditioner 13.91% 5,05,609 2,45,512 ‐ 7,51,121 63,355 82,940 ‐ 1,46,295 6,04,826 4,42,254 Computer & Printer 40.00% 22,59,620 3,38,215 ‐ 25,97,835 8,91,903 6,19,528 ‐ 15,11,431 10,86,404 13,67,717 Electricals & Fittings 13.91% 3,23,728 4,50,000 ‐ 7,73,728 15,647 58,288 ‐ 73,935 6,99,793 3,08,081 Furniture & Fixutures 18.10% 5,19,612 11,65,503 ‐ 16,85,115 1,06,230 1,28,854 ‐ 2,35,084 14,50,031 4,13,382 Office Equipment 13.91% 3,52,489 2,50,000 ‐ 6,02,489 45,703 66,686 ‐ 1,12,389 4,90,100 3,06,786 Plant & Equip, for Refilling 13.91% 16,21,204 1,44,090 ‐ 17,65,294 2,92,974 1,94,765 ‐ 4,87,739 12,77,555 13,28,230 Process Tank 13.91% 12,73,160 ‐ ‐ 12,73,160 1,36,450 1,58,116 ‐ 2,94,566 9,78,594 11,36,710 Lancer Car 25.89% 1,20,000 ‐ ‐ 1,20,000 29,302 23,482 ‐ 52,784 67,216 90,698 Mercidize Car 25.89% 2,18,000 80,595 ‐ 2,98,595 50,255 58,636 ‐ 1,08,891 1,89,704 1,67,745 Mobile 13.91% 35,020 ‐ ‐ 35,020 3,129 4,436 ‐ 7,565 27,455 31,891 Shed 10.00% 13,57,600 ‐ ‐ 13,57,600 73,273 1,28,434 ‐ 2,01,707 11,55,893 12,84,327 Storage Tank 13.91% 29,70,377 50,000 ‐ 30,20,377 2,90,105 3,78,066 ‐ 6,68,171 23,52,207 26,80,273

Total in Rs. 1,15,56,419 27,23,915 ‐ 1,42,80,334 19,98,325 19,02,230 ‐ 39,00,556 1,03,79,779 95,58,094

Page | 18

Gross Block Depreciaton Net Block

OASIS TRADELINK LIMITEDNotes Forming Integral Part of the Balance Sheet as at 31st March, 2014

Sr. No

Particulars Rate

Note : 8 Fixed Assets

Note : 9 Long Term Loans and Advances Rs. Rs.Sr. No


1 Security Deposit 74,500 74,500 Total in Rs. 74,500 74,500

Note : 10 Trade Recievables Rs. Rs.Sr. No


1 Outstanding for more than six months 2,44,000 ‐ 2 Outstanding for Less than six months 4,20,15,486 2,79,99,530

Total in Rs. 4,22,59,486 2,79,99,530

Note : 11 Cash & Cash Equivalent Rs. Rs.Sr. No


1 Cash‐in‐HandCash Balance 6,89,316 1,83,641

Sub Total (A) 6,89,316 1,83,641 2 Bank Balance

Bank Balance 2,02,38,880 1,16,64,068 Sub Total (B) 2,02,38,880 1,16,64,068

Total in Rs. [A+B] 2,09,28,197 1,18,47,709

Note :12 Short Terms Loans and Advances Rs. Rs.Sr. No


1 Loans & Advances from related partiesa) Secured, Considered Good : ‐ ‐ b) Unsecured, Considered Good : 34,000 1,48,000 c) Advance Payments to Suppliers ‐ 1,04,720 Total in Rs. 34,000 2,52,720

Note :13 Other Current Assets Rs. Rs.Sr. No


20,42,824 3,84,544 Total in Rs. 20,42,824 3,84,544

Page | 19


Note : 14 Revenue from Operations Rs. Rs.Sr. No


1 Sales 1,35,71,23,053 73,22,79,485 2 Labour Income ‐ 15,47,977

Total in Rs. 1,35,71,23,053 73,38,27,462

Note : 15 Purchases & Direct Expenses Rs. Rs.Sr. No


a) PURCHASES 1 Purchase 1,35,42,24,406 71,63,89,217

Sub‐total (a) 1,35,42,24,406 71,63,89,217 b) DIRECT EXPENSES1 Processing Labour Charges 10,95,971 21,36,872 2 Power & Fuel ‐ ‐ 3 Packing, Freight & Forwarding ‐ 2,32,540

Sub‐total (b) 10,95,971 23,69,412

Total in Rs. 1,35,53,20,377 71,87,58,629

Note : 16 Change in Inventories Rs. Rs.Sr. No


1 Opening Stock 4,61,36,843 4,36,12,575 2 Closing Stock 6,66,58,051 4,61,36,843

Total in Rs. ‐2,05,21,208 ‐25,24,268

Note : 17 Employement Benefit Expenses Rs. Rs.Sr. No


1 Salaries, Bonus, PF & ESIC 27,41,925 24,01,540 2 Directors Remuneration 14,35,500 8,10,000

Total in Rs. 41,77,425 32,11,540

Page | 20

OASIS TRADELINK LIMITEDNotes Forming Part of the Profit & Loss Accounts as at 31 st March, 2014

OASIS TRADELINK LIMITEDNotes Forming Part of the Profit & Loss Accounts as at 31 st March, 2014

Note :18 Financial Cost Rs. Rs.Sr. No


1 Bank Commission 2,23,649 2,40,913 2 Bank Interest 56,96,262 56,91,878 3 Finance Charges 20,112 ‐ 4 Interest Expense 4,84,160 7,31,311

Total in Rs. 64,24,183 66,64,102

Note : 19 Depreciation & Amortised Cost Rs. Rs.Sr. No


1 Depreciation 19,02,230 16,82,292 Total in Rs. 19,02,230 16,82,292

Note : 20 Other Administrative Expenses Rs. Rs.Sr. No


1 Audit Expense 46,000 22,500 2 Account Adviser Fees 1,57,500 1,44,000 3 Advertisement Expenses 27,95,811 1,29,425 4 Books & Periodicals ‐ 1,045 5 Car Expenses 22,657 1,88,729 6 Computer Expenses 9,633 2,650 7 Dalali & Brokerage 7,90,526 5,58,264 8 Donation Expenses 9,000 ‐ 9 Electricity Expenses 3,68,215 3,99,893 10 Insurance Expenses 9,122 87,086 11 Laboratory Expenses ‐ 13,818 12 Filling Fees & Professional Charges 1,06,000 84,610 13 Licences Expenses ‐ 82,500 14 Miscellaneous Expenses 25,000 ‐ 15 Municipal Tax Expenses 2,433 ‐ 16 Office Expenses 3,12,497 2,57,349 17 Petrol Expenses 28,500 49,856 18 Post Expenses 49,760 52,819 19 Pre Operative Expenses ‐ 5,227 20 Rent expenses 8,52,500 7,85,000 21 Rate Difference 45,000 ‐ 22 Repairs to Machinery 628 3,05,934 23 Sales Commission ‐ 10,93,095 24 Stationery & Printing 1,48,152 1,23,568 25 Telephone Expenses 1,15,814 61,390 26 Travelling & Convenyance Expenses 4,18,785 7,09,042 27 VAT expenses 5,43,826 7,64,034

Total in Rs. 68,57,359 59,21,834 Page | 21

Page | 22

Significant Accounting Policies and Notes forming parts of Accounts

Schedule : 21

NOTES ON ACCOUNTS

1. Previous year’s figures are regrouped/rearranged wherever necessary.

2. Depreciation has been provided on fixed assets on written down value method in

accordance with the rate specified in Schedule XIV to the Companies Act, 1956.

3. Provision for Taxation for the current year has been made after taking into

consideration benefits admissible under the provisions of the Income Tax Act, 1961.

4. The balances of Loans and Advances are subject to their confirmation and

reconciliation if any.

5. All the Opening Balances are taken as per previous year audit report.

6. Contingent liability in respect of claims against the company not acknowledged as debts

against which the company has counter claims aggregating to Rs. is Nil.

7. In the opinion of the Board, the current assets, loans and advances are approximately of

the value stated in the Balance sheet, if realized in the ordinary course of business.

8. Information pursuant to paragraph 3, 4, 4B, 4C, and 4d of Part II of the schedule VI is

given as under so far as it applies to the company.

a) The Company has no employee falling within the purview u/s 217(2A) of the

Companies Act 1956.

b) Payment to Statutory Auditors

Current Year Previous Year

1. Audit Fees 30,000 10,000

For , RAKSHIT M. SHAH & CO. For, and on behalf of the Board of Directors of Oasis Tradelink Limited


Snehal Patel Naishadh Patel

(WHOLE TIME DIRECTOR) (ADDITIONAL DIRECTOR)

(CA. RAKSHIT M. SHAH) Menezes Olga Vincentpaul Dharmesh Patel

Membership No. : 123368 (DIRECTOR) (COMPANY SECRETARY)


PLACE: AHMEDABAD

PLACE: AHMEDABAD

DATE: 05/09/2014

DATE: 05/09/2014

Page | 23

DISCLOSURE OF SIGNIFICANT ACCOUNTING POLICIES

A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the generally

accepted accounting principles in India under the historical cost convention on

accrual basis. These financial statements have been prepared to comply in all

material aspects with the Accounting Standards notified under Section 211 3(C) [

Companies (Accounting Standards ) Rules,2006, as amended ] and the other relevant

provisions of the Companies Act, 1956.

B. FIXED ASSETS

Fixed Assets are valued at cost less depreciation.

C. DEPRECIATION

Depreciation has been provided on Written down Value method at the rates

prescribed in Schedule XIV of the Companies Act, 1956.

D. INVENTORY

Closing Stock is taken as certified by the Management. The same is valued at cost or

Net Realizable Value whichever is less.

E. RETIREMENT BENEFITS

As certified by the management, the company has no liability under the Provident

Fund & Super Annuation Fund Act as the said acts do not apply to the company.

It is explained to us that the company does not provide for any leave encashment and

any liability arising thereon shall be paid and dealt with in the books of accounts at

the actual time of payment.

F. REVENUE RECOGNITION

Sales are accounted Inclusive of taxes.

G. INVESTMENTS

Long Investments are carried at cost less provision for permanent diminution if any

in the value of such investment.

H. BORROWING COSTS

Borrowing costs are charged to the Profit and Loss A/c in the year in which they are

incurred.

Page | 24

I. CONTINGENT LIABILITIES

As certified by the Management, there is no contingent liability on the company and

all known and estimated liabilities have been provided for in the books of accounts.

J. APPLICABILITY OF AS-22

In compliance with the Accounting Standard 22 (AS-22) “Accounting for Taxes on

Income” issued by the Institute of Chartered Accountants of India, company has

created Deferred Tax Liability of Rs.4,38,104/- in the current year.

K. APPLICABILITY OF AS - 18

In accordance with the requirements of Accounting Standard -18 (AS – 18)

“Related Party Transactions” issued by the Institute of Chartered Accountants of

India, the following company is considered as Related Party as defined in AS –18:

Name of Party 2012-13 Relationship Nature of Transaction

Snehal B. Patel 12,00,000 Director Remuneration

Menezes Olga

Vincentpaul

2,31,000 Director Remuneration

Naishdh B. Patel 12,00,000 Director Remuneration

Rupaganiben S.

Patel

4,80,000 Wife of Director Salary

Anjanaben S. Patel 2,50,000 Wife of Director Salary

Maruti Nutritious

Fodd Pvt Ltd

48,44,89,847 Sister Concern Sales

Maruti Nutritious

Fodd Pvt Ltd

24,42,234 Sister Concern Labour Packing Income

L. FOREIGN CURRENCY TRANSACTIONS

There are no such foreign currency transactions during the year.

M. C I F VALUE OF IMPORT RAW MATERIALS

NIL

N. EXPENDITURE IN FOREIGN CURRENCY

NIL

Page | 25

O. EARNING PER SHARE

The Earning per Share (AS-20) has been computed as under :

(a) Profit after tax Rs. 24,10,634/-

(b) No. of Equity Share shares

(c) Nominal value of share Rs. 10 per share

(d) EPS Rs. 0.46/-

For , RAKSHIT M. SHAH & CO. For, and on behalf of the Board of Directors


Snehal Patel Naishadh Patel

(WHOLE TIME DIRECTOR) (ADDITIONAL DIRECTOR)

(CA. RAKSHIT M. SHAH) Menezes Olga Vincentpaul Dharmesh Patel

Membership No. : 123368 (DIRECTOR) (COMPANY SECRETARY)


PLACE: AHMEDABAD

PLACE: AHMEDABAD

DATE: 05/09/2014 DATE: 05/09/2014

Page | 26

Proxy form Form No. MGT-11

[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies

(Management and Administration) Rules, 2014]

CIN: U51909GJ1996PLC031163

Name of the company: Oasis Tradelink Limited

Registered office: 1st Floor, "MARUTI HOUSE",

Opp. Sales India, Off Ashram Road,

Ahmedabad - 380009.

Name Of the member (s) : ______________________________________________

Registered Address : ______________________________________________

______________________________________________

E-mail id : ______________________________________________

Folio no / Client Id : ____________________

DP ID : ____________________

I/We, being the member (s) of ___________ shares of the above named

company, hereby appoint

1. Name: _________________________________________

Address: _________________________________________

_________________________________________

_________________________________________

E-mail Id: _________________________________________

Signature _________________ or failing him

2. Name: _________________________________________

Address: _________________________________________

_________________________________________

_________________________________________

E-mail Id: _________________________________________

Signature _________________

As my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf

at the Annual general meeting of the company, to be held on Tuesday the 30 day of September, 2014 At 11:30 a.m. at 1st Floor, "MARUTI HOUSE", Opp. Sales

Page | 27

India, Off. Ashram Road, Ahmedabad - 380009 and at any adjournment thereof in respect of such resolutions as are indicated below:

Ordinary Business:

1. Adoption of the audited Balance Sheet and Profit & Loss Account for the year

ended March 31, 2014 and the reports of the Board of Directors and Auditors

thereon (Ordinary resolution).

2. To appoint a Director in place of Mr. Snehal Patel, who retires by rotation and

being eligible, offers himself for reappointment (Ordinary resolution).

3. Appointment of Auditors and fixing of their remuneration. (Ordinary

resolution)

Special Business:

4. Appointment of Ms. Olga Menezes Vincentpaul as an Independent Director of

the Company (Ordinary resolution).

5. Appointment of Mr. Shankar Prasad Bhagat as an Independent Director of the

Company (Ordinary resolution).

6. Appointment of Mr. Naishadh Patel as a Director of the Company (Ordinary

resolution).

7. To increase authorized share capital of the company from Rs. 7,50,00,000/-

to Rs. 10,50,00,000/- by way of addition of 30,00,000 Equity Shares of Rs

10/- each aggregating to Rs. 3,00,00,000/-. (Ordinary resolution)

Signed this __ day of________ 2014.

____________________

Signature of shareholder

____________________

Signature of Proxy holder(s)

Note: This form of proxy in order to be effective should be duly completed and

deposited at the Registered Office of the Company, not less than 48 hours

before the commencement of the Meeting.

Affix a Re.

1/- Revenue

Stamp here

Page | 28

ATTENDANCE SLIP (Please complete this Attendance Slip and hand it over at the entrance of the hall)

Shareholder’s Name Folio No. of shares held

I hereby record my presence at this ANNUAL GENERAL MEETING of the company

to be held on Tuesday, 30th September 2014 at the Registered Office of the

Company at 1st Floor, Maruti House, Opp. Sales India, Off. Ashram Road,

Ahmedabad – 380009 and at any adjournment thereof.

_____________________________

Signature of the Shareholder or Prox

Notes:

Only Shareholder of the company or their Proxies will be allowed to attend the

Meeting.

Documents

Annual Report 2013-14 - Bombay Stock Exchange...RAKSHIT M. SHAH & CO. CHARTERED ACCOUNTANTS 402, Wall Street-1, Opp. Orient Club, Near Gujarat College, Ellisbridge, Ahmedabad - 380006