| The Directors have great pleasure in presenting the 7th Annual Report
together with Audited Accounts of the Company for the year ended 31st
March, 2000.
FINANCIAL HIGHLIGHTS
(Rs. in Lacs)
1999-2000 1998-99
Sales and Other Income 2725.69 2405.03
Profit before Interest & Depreciation 453.82 311.00
Profit Before Depreciation 178.84 153.94
Profit Before Tax 56.38 67.93
Profit After Tax 48.38 55.93
Appropriations
Transferred to General Reserve 7.50 7.50
Profit Carried to Balance Sheet 40.88 48.43
PERFORMANCE
The profitability of the Company for the current year is lower as
compared to the previous year. The sales for the current year has
increased by 135 over the previous year. However, the Profit after tax
for the year under review is lower by 13.5%, as compared to the
previous year. The lower margin of profit is mainly due to higher
depreciation and interest charges for the current year. Though the
Profit before Interest and Depreciation has increased by 46% over the
previous year, the net profit is lower as Interest for the year under
review was higher by 75%, and depreciation charges was higher by 42%
over the previous year.
DIVIDEND
Keeping in view the lower profits for the year under review, the
Directors deem it fit, not to recommend any dividend on the Equity
Shares of the Company.
DEPOSITS
As on 31st March, 2000, deposit aggregating Rs. 1.39 Lacs thereof have
been claimed and paid or renewed. Also no claim was pending as on that
date.
DIRECTORS
Capt. Mukesh Gombar and Mr. A. K. Batra, Directors are due for
retirement by rotation in this Annual General Meeting and being
eligible have offered themselves for re-appointment. The Directors
recommend their appointment.
AUDITORS
M/s Prakash Agarwal & Co., Auditors of the Company are liable for
retirement at this Annual General Meeting and being eligible have
offered themselves for re-appointment.
STATUTORY STATEMENTS
The statement pursuant to Section 217(1) of the Companies Act, 1956
read with Companies (Disclosure of Particulars in the Report of Board
of Directors) Rules, 1988 and pursuant to Section 217(2A) of the
Companies Act, 1956 read with Companies (Particulars of Employees)
Rules, 1975 is not applicable as the Company does not have any employee
drawing remuneration exceeding the sum prescribed therein.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS, OUTGO
As required under Section 217 (1) (e) of the Companies Act, 1956, read
with the Companies (Disclosure of particulars in the Report of Board of
Directors) Rules, 1988, the information relating to Conservation of
Energy, Technology Absorption and Foreign Exchange Earnings and Outgo
is annexed as Annexure - A and forms part of this report.
Information pursuant to Section 217 (1) (e) of the Companies Act, 1956,
read with the Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules, 1988.
Note on Energy Conservation
Owing to short and erratic power supply in the State of Haryana, the
electricity for running the mills is being generated through Diesel
Generating Sets. About 80% of the total power consumption is met with
own generation through D.G. Sets. To save the fuel, ELF, EMDFA 200
Diesel are used in Kirloskar Cummins D. G. Sets.
B. DISCLOSURE OF PARTICULARS WITH RESPECT TO TECHNOLOGY ABSORPTION
The R & D Department in the Mills got developed several spare parts for
the imported machines and as on date approximately 80% spare parts are
being produced locally. A few modifications in the Blow Room have
resulted in increase of good quality product.
C. PARTICULARS OF FOREIGN EXCHANGE EARNINGS AND OUTGO
(Rs. in Lacs)
Current Previous
Year Year
Total Foreign Exchange Earning -- --
Total Foreign Exchange Outgo -- 379.65 |