You are here » Home » Companies » Company Overview » R R Financial Consultants Ltd

R R Financial Consultants Ltd.

BSE: 511626 Sector: Financials
NSE: N.A. ISIN Code: INE229D01011
BSE 00:00 | 09 Mar 2018 R R Financial Consultants Ltd
NSE 05:30 | 01 Jan 1970 R R Financial Consultants Ltd
OPEN 16.00
PREVIOUS CLOSE 15.00
VOLUME 200
52-Week high 19.70
52-Week low 10.10
P/E
Mkt Cap.(Rs cr) 17
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 16.00
CLOSE 15.00
VOLUME 200
52-Week high 19.70
52-Week low 10.10
P/E
Mkt Cap.(Rs cr) 17
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

R R Financial Consultants Ltd. (RRFINCONS) - Director Report

Company director report

THE MEMBERS

RR FINANCIAL CONSULTANTS LIMITED.

Your Directors take pleasure in presenting the Twenty Sixth Annual Report and AuditedStatement of Accounts of the Company for the period ended on 30th June 2013 along withthe Audited Accounts Auditor's Report for the year ending 30th June 2013.

FINANCIAL RESULTS:

(1) A quick Glance on the financial achievements of the Company and its Subsidiariesfor the year 2012-13.

(Amount in Rs.)
Name of the Companies (Subsidiaries as on 30th June 2013) Revenue Profit before Depreciation Amortisation and Tax Profit after Tax
RR Financial Consultants Limited (Holding Company) 21935889.88 (2765441.76) (6699211.82)
RR Equity Brokers Private Limited (as on 31.03.2013) 103871742.74 5553972.33 2294451.33
RR Insurance Brokers Private Limited (as on 31.03.2013) 48556362.30 (12687733.99) (14201575.02)
RR Investor Capital Services Private Limited 135201129.54 (6108384.35) (10128534.03)
Arix Consultants Private Limited Nil (2000.00) (2129.00)
RR Infra Estates Private Limited 4000000.00 3998876.00 (491985.00)
RR Fincap Private Limited 2409733.66 390689.23 165701.23

(2) The Standalone financial results of the Company for the period under review aresummarized below. The previous figures in the financial statements have been regroupedwherever necessary.

(Rs. in lacs)
Particulars As on 30th June 2013 As on 30th June 2012
1. Gross Income 219.35 405.23
2. Profit/Loss before Dep Amortisation & Tax "(27.65) 231.45
3. Depreciation & Amortisation 24.30 28.66
4. Provision for Taxation 15.03 NIL
5. Profit after Tax (66.99) 202.79
6. Balance Brought Forward 2363.44 2160.65
7. Profit available for appropriation 2296.45 2363.44
8. Transfer to General Reserve NIL NIL
9. Dividend Paid NIL NIL
10. Corporate Dividend Tax NIL NIL
11. Balance Carried to Balance Sheet 2296.45 2363.44

SHARE CAPITAL:

The Share Capital remained the same during the period under review.

SUBSIDIARY COMPANIES:

As on 30.06.2013 RR Financial Consultants Limited has six subsidiary companies.The names of the subsidiaries along with the Percentage of Holding company in theseSubsidiary Companies is given as below:

Name of the Companies % of Holding
RR Equity Brokers Private Limited 100%
RR Insurance Brokers Private Limited 100%
RR Investor Capital Services Private Limited 66.65%
Arix Consultants Private Limited 100%
RR Infra Estates Private Limited 100%
RR Fincap Private Limited 100%

RR Equity Brokers Private Limited has 5 subsidiaries i.e. RR Commodity BrokersPrivate Limited RR Information and Investmet Research Private Limited RR Investor Retailservices Private Limited RR IT Solutions Private Limited and RR Investor DistributionCompany Private Limited.

RR Investor capital services Private Limited has 1 subsidiary i.e. RR InvestorSecurities Trading Private Limited.

RR Infra Estates Private Limited has 3 subsidiaries i.e. RR Land Estates PrivateLimited Lakshminarayan Infra Estates Private Limited & Priya Darshan Real EstatesPrivate Limited.

As per sec 4 (1) c of The Companies act 1956 the subsidiaries of subsidiaries of RRFCare deemed to be subsidiaries of RRFC.

As required under the new Clause 49 of the Listing Agreement the Company has adopted apractice of placing the minutes and statements of all the significant transactions of allthe un-listed subsidiary companies in the meeting of Board of Directors of RR FinancialConsultants Limited. The Audit Committee of the Company regularly reviews the financialsof the subsidiary companies.

REVIEW OF PERFORMANCE:

The Total Income of the company during the period under review is Rs. 219.35 Lacs ascompared to Rs.405.23 Lacs in the previous period. The Company registered a Profit afterTax and Depreciation amounting Rs. (66.99) Lacs as against profit of Rs.202.79 Lacs in theprevious year.

DIRECTORS:

MR. MAHESH CHANDRA director of the company retires by rotation at the ensuingAnnual General Meeting being eligible & offer himself for re-appointment.

MR. RAJESH AGRAWAL has resigned from the directorship of the Company w.e.f. 1stJuly 2013.

MS. SARLA PRASAD has vacated from the directorship of the Company w.e.f. 16thSeptember 2013.

The Board places on record are appreciation of the invaluable contributions made by Mr.Rajesh Agrawal & Ms. Sarla Prasad during their association with the Company.

PUBLIC DEPOSIT:

Your company has never invited/accepted any deposit from the public within the meaningof Section 58A of the Companies Act 1956 and the Rules made there under during the periodunder review.

AUDITORS:

M/s Sandeep Ramesh Gupta & Co. Chartered Accountants the Auditors of theCompany retire at the ensuing Annual General Meeting and shall be eligible for reappointedas the auditors of the Company from the conclusion of this Annual General Meeting till theconclusion of the next Annual General Meeting of the Company. The necessary eligibilitycertificate under Section 224 (1B) of the Companies Act 1956 has been received from them.The Audit Committee and Board of Directors have also recommended the appointment of M/sSandeep Ramesh Gupta & Co. Chartered Accountants as the auditors of the Company.Also The Board of Directors of the Company are hereby authorized to fix theirremuneration plus traveling and other out of pocket expenses incurred by them inconnection with Statutory audit and/or continuous audit and also such other remunerationas may be decided to be paid by the Board of Directors for performing the duties ofauditing the accounts of the company.

AUDITORS REPORT:

The observation made by the Auditors in their report is self-explanatory and does notrequire any clarification.

DIVIDEND:

To conserve the resources of the Company Board of Director decided not to declare anydividend.

LISTING ON STOCK EXCHANGES:

The shares of the company are listed with Delhi Mumbai Kolkata Kanpur Madras andLudhiana Stock Exchanges. With the wide and extensive network of Mumbai Stock Exchangethe investors have access to online dealings in the company's equity shares across thecountry. The company is taking steps to delist its equity shares from Delhi MadrasKolkata Kanpur and Ludhiana stock exchanges as there is hardly any trading on these stockexchanges and listing fee payable to these exchanges no more offer commensurate benefitsto the company and its investors. Therefore delisting of the equity from all StockExchanges except Bombay Stock Exchange is considered necessary firstly on the ground thatthe cost to the company would stand reduced and secondly that the interest of the memberslocated in the regions where the said Stock Exchanges are located would remain unaffected.

DIRECTORS RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217 (2AA) OF COMPANIES ACT1956:

The Board of Directors hereby confirms that:

1. In the preparation of the annual accounts all the applicable accounting standardshad been followed. Your Directors had selected the accounting policies which are in thebest interest of the company and are as prudent so as to give a true and fair view ofstate of affairs of the company and of the profit or loss of the company for theaccounting period ended 30th June 2013.

2. Your Directors had taken proper and sufficient care for the maintenance ofaccounting records for the period ended 30th June 2013 in accordance with provisions ofthe Act for safeguarding the assets of the Company and for preventing and detecting fraudand other irregularities.

3. Your Directors had prepared annual accounts on a going concern basis.

PERSONNEL:

The Directors hereby wish to place their appreciation for the efficient and loyalservices rendered by the staff of the Company. The Company has not paid any remunerationattracting the provisions of the Companies (Particulars of Employees) Rules 1975 readwith section 217 (2A) of the Company Act 1956. Hence no information is required to beappended to this regard.

CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION AND INNOVATION:

Since the Company does not own any manufacturing facility the provision of Section217(1)(e) of the Companies Act 1956 read with the Companies (Disclosure of particular inthe Report of Board of Directors) Rules 1988 are not applicable.

FOREIGN EXCHANGE EARNINGS & OUTGO:

There is no Foreign Exchange earnings & Foreign Exchange Outflow during the yearunder review.

CORPORATE GOVERNANCE:

A separate statement on Corporate Governance is produced as a part of the Annual Reportwith a certificate from the Auditors of the Company regarding compliance of conditions ofCorporate Governance as stipulated under clause 49 of Listing Agreement of the StockExchanges as Annexure A. A certificate from the auditors M/s Sandeep Ramesh Gupta &Co. Chartered Accountants of the Company regarding compliance of the conditions ofCorporate Governance as stipulated under Clause 49 of the Listing Agreement is attached tothis Directors' Report as Annexure A1.

MANAGEMENT ANALYSIS AND DISCUSSION REPORT:

Management discussion and analysis Report as required under the Listing Agreement withStock Exchange is attached as Annexure B of this Report.

PARTICULARS REQUIRED AS PER SECTION 212 OF THE COMPANIES ACT 1956:

As per the Circular No.2/2011 issued by Ministry of Corporate Affairs on 8th February2011 general exemption is provided to all holding Companies pertaining to CentralGovernment approval (Section-212 (8) of Companies Act 1956) for availing the exemptionfor not attaching the annual accounts of the subsidiary Companies. Accordingly theBalance Sheet Profit & Loss Account and other documents of the subsidiaries of thecompany are not being attached with the Balance Sheet of the Company. A statementcontaining brief financial details of the company's subsidiaries for the year ended as onJune 30 2013 is included in the Annual Report. The company will make available theaudited annual accounts and related information of the subsidiary companies on request byany member of the company. These documents will also be available for inspection duringbusiness hours at our Registered Office.

ACKNOWLEDGEMENT:

Your Board of Directors wishes their sincere thanks to Clients Government RegulatorsStock Exchanges Statutory Bodies Bankers and Agencies and Business Associates forhaving extended there continued support.

Your Directors would like to place on record their sincere appreciation of theemployees for their continuing support and unparallel efforts in ensuring an excellentall-round operational performance.

Also Your Directors wish to extend their appreciation for the wholehearted sincere andcontinuous support & belief extended by the members who have also been a tremendoussource of support for the company.

ON BEHALF OF THE BOARD OF DIRECTORS
Sd/- Sd/-
Place:: New Delhi RAGHUNANDAN PRASAD P.S. PRASAD
Date: 29.08.2013. DIRECTOR MANAGING DIRECTOR