About
Luminaire Technologies Ltd
Luminaire Technologies is engaged in the business of Information Technology (IT), Hardware, Software and providing IT enabled services, helpdesk support, network maintenance and technical support to its clients.
Luminaire Technologies originally incorporated on July 22, 1985 under the Companies Act, 1956 as Nandini Syntex. The name of the company was subsequently changed to Strauss Industries & Exports and a fresh certificate of incorporation, consequent on change of name was obtained on July 3, 1995. The name of the company was finally changed to the present name Luminaire Technologies (LTL) and a fresh certificate of incorporation was obtained on December 09, 1999.
The company was earlier in the business of finance and trading of textile and yarns. Subsequently, the company diversified its business in manufacturing and exports of leather garments in May 1993. The companys factory was located in Chennai and it exported the entire production to European countries. During 1998 a lot of tanneries were forced to close down due to pollution problems thus making it difficult to procure raw materials in time. As a result the companys production schedule and business was also affected. After this the management again decided to diversify the activities of the company into computers and software, Information Technology related business. The directors then identified a group of professional and started its activity in software business.
LTL in association with ITI Bangalore had successfully installed multi-service wide area captive network for Welspun India connecting their factories and offices located at nine different places in India. The entire project was executed on turnkey basis using 64kbps leased line to provide voice/fax, data and video services.
Welspun uses DOT network for its telephone line and its own 9.6/64 kbps leased line for data communication. As per the contract, Welspun operational units at Colaba, Chira Bazar, Andheri, Delhi, Palghar, Vapi, Rakholi, Surat and Dahej have been inter connected to support voice, data and video conferencing facility. This network was first of its kind where the video conferencing service was supported on 64kbps leased line. The entire project was executed in 3 months (including the time taken for commissioning of the line) and handed over Welspun in July 2000.
LTL has successfully developed a Thin Client Terminal (TCT) which is a low cost solution to corporate companies, which are using standard PCs as of now. The thin client is based on Cyrix Geode Processor and hard real time operating system.
The objective of developing the same is to provide appropriate solution for the proposed object, which involves large number of terminals for accessing information and data across the network.
LTL has developed business cases to address corporate customers network requirement where it will leverage by offering TCTs as user access terminals that offers, protection against technical obsolescence. The other benefits offered by TCTs are bare minimum investment on operating and application software since it requires to be loaded only at the server. TCT being a mere I/O device, the processing is done and the data are stored at the server, which ensure data integrity.
The company sees good potential in the entertainment industry and its contribution to the overall growth of economy. The business prospect in the Entertainment Industry looks more commercially viable in comparison to the IT Sector.
The company has altered its objects clause of Memorandum of Association (MOA) of the company by inserting the Entertainment related objects and to enable the company to start its activities in media related activities through postal ballot.
In view of immense competition in the IT Industry and concentration of major business in the hands of few giant players, it is imperative for the company to think to diversify its area of operations.
Luminaire Technologies Ltd
Company History
Luminaire Technologies is engaged in the business of Information Technology (IT), Hardware, Software and providing IT enabled services, helpdesk support, network maintenance and technical support to its clients.
Luminaire Technologies originally incorporated on July 22, 1985 under the Companies Act, 1956 as Nandini Syntex. The name of the company was subsequently changed to Strauss Industries & Exports and a fresh certificate of incorporation, consequent on change of name was obtained on July 3, 1995. The name of the company was finally changed to the present name Luminaire Technologies (LTL) and a fresh certificate of incorporation was obtained on December 09, 1999.
The company was earlier in the business of finance and trading of textile and yarns. Subsequently, the company diversified its business in manufacturing and exports of leather garments in May 1993. The companys factory was located in Chennai and it exported the entire production to European countries. During 1998 a lot of tanneries were forced to close down due to pollution problems thus making it difficult to procure raw materials in time. As a result the companys production schedule and business was also affected. After this the management again decided to diversify the activities of the company into computers and software, Information Technology related business. The directors then identified a group of professional and started its activity in software business.
LTL in association with ITI Bangalore had successfully installed multi-service wide area captive network for Welspun India connecting their factories and offices located at nine different places in India. The entire project was executed on turnkey basis using 64kbps leased line to provide voice/fax, data and video services.
Welspun uses DOT network for its telephone line and its own 9.6/64 kbps leased line for data communication. As per the contract, Welspun operational units at Colaba, Chira Bazar, Andheri, Delhi, Palghar, Vapi, Rakholi, Surat and Dahej have been inter connected to support voice, data and video conferencing facility. This network was first of its kind where the video conferencing service was supported on 64kbps leased line. The entire project was executed in 3 months (including the time taken for commissioning of the line) and handed over Welspun in July 2000.
LTL has successfully developed a Thin Client Terminal (TCT) which is a low cost solution to corporate companies, which are using standard PCs as of now. The thin client is based on Cyrix Geode Processor and hard real time operating system.
The objective of developing the same is to provide appropriate solution for the proposed object, which involves large number of terminals for accessing information and data across the network.
LTL has developed business cases to address corporate customers network requirement where it will leverage by offering TCTs as user access terminals that offers, protection against technical obsolescence. The other benefits offered by TCTs are bare minimum investment on operating and application software since it requires to be loaded only at the server. TCT being a mere I/O device, the processing is done and the data are stored at the server, which ensure data integrity.
The company sees good potential in the entertainment industry and its contribution to the overall growth of economy. The business prospect in the Entertainment Industry looks more commercially viable in comparison to the IT Sector.
The company has altered its objects clause of Memorandum of Association (MOA) of the company by inserting the Entertainment related objects and to enable the company to start its activities in media related activities through postal ballot.
In view of immense competition in the IT Industry and concentration of major business in the hands of few giant players, it is imperative for the company to think to diversify its area of operations.
Luminaire Technologies Ltd
Directors Reports
DIRECTORS
To,
The Members,
Luminaire Technologies Limited.
Mumbai
Your Directors take pleasure in presenting the Annual Report on the business and
operations of your Company together with the Audited Accounts of the Company for the
period ended 31st March 2014.
Financial results:
|
Current Year |
Previous Year |
|
2013-2014 |
2012-2013 |
|
(Rs in Lacs) |
(Rs in Lacs) |
| Total Income |
Nil |
0.16 |
| Profit/(Loss) before Interest & Depreciation |
(72.96) |
(20.85) |
| Interest |
|
|
| Depreciation |
|
|
| Profit/(Loss) before Tax |
(72.96) |
(20.85) |
| Provision for Current Tax |
NIL |
NIL |
| Provision for Deferred Tax |
NIL |
NIL |
| Provision for Fringe Benefit Tax Income Tax paid for the earlier year |
NIL |
NIL |
| Profit After Tax |
(72.96) |
(20.85) |
| Add/(Less): |
|
|
| Prior year Adjustments |
NIL |
NIL |
| Reserves Adjusted |
NIL |
NIL |
| Balance brought forward |
(235.38) |
(214.53) |
| Appropriations: |
|
|
| Dividend |
NIL |
NIL |
| Dividend Tax |
NIL |
NIL |
| Transfer to Gereral Reserve |
NIL |
NIL |
| Balance carried to Balance Sheet |
(308.34) |
(235.38) |
PERFORMANCE
During the year under review, there was no operating income. The Company has incurred a
Loss of Rs. 72,95,769/-. Looking to the past losses your Directors do not recommend any
dividend for current year.
CONSERVATION OF ENERGY ETC.:
The Company is not carrying on any manufacturing activities during the year, so figures
of Conservation of Energy or Technology Absorption are not available.
FOREIGN EXCHANGE EARNING AND OUT GO:
There is no income and expenditure in foreign exchange during the year.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted deposits under the
provisions of Section 58A of the Companies Act. 1956 and the rules made there under.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis Report for the year under review as required under
Clause 49 of the Listing Agreement with the Stock Exchanges, is given as a separate
statement in the Annual Report
CORPORATE GOVERNANCE
The Company has complied with all mandatory requirements as prescribed under Clause 49
of Listing Agreement with Bombay Stock Exchange Limited (BSE)
A separate section on Corporate Governance forms part of the Annual Report. A
certificate regarding compliance of conditions of Corporate Governance as stipulated under
clause 49 of the Listing Agreement forms part of the Annual Report.
DIRECTORS:
Mrs. Mamta Bhagat, Director, retires from office by rotation, but being eligible,
offers herself for reappointment.
Mr. Sanjiv M Gupta and Mr. Mahesh Choudhary was appointed as a additional director at
the Board of Directors meeting held on 05th May, 2014 and be Mr. Sanjiv Gupta be confirm
as a Director of the company where as Mr. Mahesh Choudhary has not seek for reappointment
and hence ceased to be a Director of the company.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the provision of Section 217 (2AA) of the Companies Act, 1956, your
Directors declare that:
i) in preparation of the annual accounts, the applicable accounting standards had been
followed along with proper explanation relating to material departures.
ii) the Directors had selected such accounting policies and applied them consistently
and made judgments 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
after the profit or loss of the company for that period.
iii) the Directors have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the Companies Act, 1956
for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities.
iv) the Directors had prepared the annual accounts on a going concern basis.
PARTICULARS OF EMPLOYEES:
There are no employees drawing the remuneration in excess of ceiling prescribed under
Section 217(2A) of the Companies Act, 1956, read with the companies (Particulars of
Employment) Rules, 1988.
AUDIT COMMITTEE:
The Audit Committee comprises of Mr. Shekhar Kulkarni (Chairman). Mr. Rajaram Mane and
Mr. Brijesh Bhagat all are being Non-Executive" majority of them left Independent
Directors. The Audit Committee met 4 times during the year under review.
AUDITORS:
M/s D K Chhajer & Co., Chartered Accountants, retires at the ensuing Annual General
Meeting and the Company received their consent for reappointment under provisions of
Section- 224 (1B) of the Companies Act.
AUDITOR’S REPORT:
The observations made by the Auditors in their report an appropriately dealt with in
the notes forming part of the accounts for the year which self-explanatory and hence do
not require any further explanations.
PARTICULARS OF EMPLOYEES:
Information as per Section 217(2A) of the Companies Act, 1956 read with Companies
(particulars of Employees) Rules. 1975 is not given, as there were no employees drawing
remuneration prescribed under the said section.
ACKNOWLEDGEMENT:
Your Directors wish to place on record their sincere appreciation of the assistance and
support extended by customers. Financial institutions, banks, Vendors, Government and
other associated with the activities of the Company.
|
By order of the Board |
|
Chairman |
| Place: Mumbai |
|
| Date: 5th September, 2014. |
|
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