69 th AGM on 28/09/2017, 11:30 am , at Allahabad. Shareholders , please attend.
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Questions by Shareholders
1 )
Page 7 -Annual Report 2016-17
Profits, according to the Report there is EPS of Rs.46 ( for Rs. 10 paid share ).
But under the next Heading Dividend ,
Shervani Industrial states " DUE TO INADEQUACY OF PROFITS ----- NO DIVIDEND
Please explain how are Profits inadequate when in earlier years our Company declared dividends on much smaller profits.
2 )
What are the provisions of the Company Law , 2013 , mentioned here ( Page 7 ) in the Report because of which our Company cannot declare a dividend.?
3 )
Shervani Industrial Syndicate ( earlier Geep ) is following very strange accounting practices.
It may be to understate the massive profits Shervani Industrial is making.
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The basic fundamental of accounts is that Profits = Sales Minus Expenditure.
After Profits have been worked out the one of the Items for RETAINED PROFITS may be " Increase in Inventories "
It may be to understate the massive profits Shervani Industrial is making.
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The basic fundamental of accounts is that Profits = Sales Minus Expenditure.
After Profits have been worked out the one of the Items for RETAINED PROFITS may be " Increase in Inventories "
Please explain how in Accounts Item " Increase in Inventories " can be treated as a legitimate business Expense .
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