Checkpoint Trends Limited has announced its audited annual financial results for the fiscal year ended March 31, 2015, revealing a mixed performance with extraordinary items providing significant support to the company's bottom line.

Financial Performance Overview

The company's financial performance for FY15 was characterized by operational challenges offset by extraordinary gains. The detailed financial metrics demonstrate the impact of these exceptional items on the overall results.

Operational Analysis

The company reported zero income from operations for both FY15 and the previous year, indicating no revenue generation from regular business activities. Total expenses for FY15 stood at ₹7.45 lakh compared to ₹5.86 lakh in FY14, representing an increase in operational costs despite the absence of operational revenue.

Employee costs constituted a significant portion of expenses at ₹0.42 lakh, while other expenses accounted for ₹7.03 lakh during the year. The company did not report any costs related to materials consumed, goods traded, or depreciation.

Balance Sheet Position

The company's financial position as of March 31, 2015, showed total assets and liabilities of ₹47.56 lakh. The balance sheet structure reflects the company's current operational status and capital allocation.

Shareholding Structure

The company maintained a stable shareholding pattern with paid-up equity share capital remaining unchanged at ₹54.68 lakh, consisting of shares with a face value as specified in the financial statements. The promoter and promoter group held 100.00% of the total shareholding, indicating complete promoter control over the company.

Earnings Per Share Analysis

The company's earnings per share (EPS) performance showed improvement due to the extraordinary items. Basic and diluted EPS after extraordinary items stood at ₹5.62 for FY15, compared to a loss of ₹0.17 per share in the previous year. However, EPS before extraordinary items remained negative, reflecting the underlying operational challenges.

Audit and Compliance

The financial results were audited by Prakash Modi & Associates, Chartered Accountants, who provided an unqualified opinion on the financial statements. The auditors confirmed that the financial statements give a true and fair view of the company's financial position as of March 31, 2015, and comply with applicable accounting standards and regulatory requirements.

Checkpoint Trends Limited announced the outcomes of its Board of Directors meeting, revealing several major corporate decisions that will reshape the company's structure and operations.

Key Board Decisions

The board meeting addressed multiple strategic initiatives based on recommendations from the Nomination and Remuneration Committee and Audit Committee meetings.

Director Appointment and Committee Changes

The board approved the appointment of Mr. Gunjan Gangwal (DIN: 11413389) as Additional Non-Executive Independent Director for a five-year term, subject to member approval. Mr. Gangwal brings over 15 years of finance and accounting experience, holding qualifications as CA, CS, B.Com, and certified Independent Director.

Mr. Gangwal will be inducted as a member in the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, leading to reconstitution of all three committees.

Capital Structure Enhancement

The board approved a significant increase in authorized share capital, demonstrating the company's growth ambitions and capital requirements.

This amendment requires consequent changes to Clause V of the Memorandum of Association relating to share capital, subject to member approval through postal ballot.

Corporate Identity Transformation

The board approved changing the company name from Checkpoint Trends Limited to Centuple Global Limited. This rebranding initiative requires amendments to the existing Name clause of the Memorandum of Association and Articles of Association, subject to member approval through postal ballot.

Financial and Investment Approvals

The board established new financial frameworks to support business expansion:

Additionally, the board approved increases in investment limits for Non-Resident Indians, overseas citizens of India, Foreign Institutional Investors, and Foreign Portfolio Investors, all subject to member approval through postal ballot.

Postal Ballot Process

The company approved the Postal Ballot Notice and appointed M/s. NVB Associates, Practicing Company Secretaries, as Scrutinizer to oversee the e-voting process for member approvals.

Professional Background

Mr. Gangwal's expertise encompasses preparing and reviewing tax provision schedules, consolidating financial data, and managing income tax returns, GST returns, extensions, and estimated tax payments for over 100 clients. His experience includes preparing financial statements in accordance with the Companies Act, 2013, managing accounting departments, and conducting statutory and concurrent audits. The company confirmed that Mr. Gangwal is not related to any Directors, Key Managerial Personnel, Promoters, or Promoter group members and holds no shares in the company.