| Your Directors present the Twenty Seconds Annual Report of the Company
together with the Audited Statement of Accounts for the year ended 31st
March, 2001.
FINANCIAL RESULTS
(Rs. in lakhs) (Rs. in lakns)
Current Year Previous Year
2000-2001 1999-2000
Total Income 57.97 0.25
Net Profit/(Loss
before Depreciation 57.97 (47.14)
Add : Depreciation 13.68 13.38
Loss for the year 12.85 60.52
Add : Adjustment in respect
previous year 0.37 0.05
Add : Balance brought forward
from the previous year 680.24 619.67
Total Loss carried to
Balance Sheet 693.46 680.24
OPERATIONS
During the year, the Company achieved total income of Rs. 0.77 Lacs
compared to toss of 3.48 lacs in Previous Year which is a indication of
small improvement compare to Previous Year. Since the Global financial
conditions am still not improved the Exports and Local Market is
heavily affected but Company is still trying and hopeful for better
working in Current Year.
DIRECTORS
Mr. Ashok Raval retires by rotation and being eligible, offers himself
for re-appointment.
Mr. Anuj Kumar Rathi and Mr R. Goppu resigned from directorship with
effect from 28.08.2001. The Board wish to place on record their sincere
appreciation for guidance provided by them.
AUDITORS
M/s. J. D. Padwal & Co., Chartered Accountants retire at the ensuing
Annual General Meeting and being eligible offers themselves for
re-appointment.
AUDITORS REPORT
Pursuant to the provisions of Section 217(3) of the Companies Act, 1956
the explanations in respect of the observation made in the Auditors
Report are as under :
i) The management is making all efforts and is hopeful of recoveries
and therefore no provision for doubtful debts have been made in respect
of Sundry debtors and advances of Rs. 60.60 Lacs.
ii) Suitable special resolutions pursuant to the requirement of Section
372A are proposed for the approval of the members of the Company at the
ensuing Annual General Meeting.
iii) Other observation made are self explanatory.
PARTICULARS OF EMPLOYEES
There are no employees whose particulars are required to be given under
Section 217(2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO :
Information required to be given pursuant to Section 217(1)(e) read
with Companies (Disclosure of Particulars in the report of the Board of
Directors) Rules. 1988 are given in Annexure annexed to this report.
ACKNOWLEDGEMENT
Your Directors wish to place on record their appreciation and
acknowledge with gratitude, the support and co-operation extended to
the Company by the employees at all level, Bankers, the Central and
State Governments and the Shareholders.
ANNEXURE TO DIRECTORS REPORT
1) FORM OF DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF
ENERGY
A. Power and Fuel Consumption :-
Current Year Previous Year
31.03.2001 31.03.2000
1. Electricity
a) Purchased Unit (KWH) NIL NIL
Total Amount (Rs.) NIL NIL
Average Rate/Unit (Rs./KWH) NIL NIL
b) Own generation NIL NIL
2 Coal NIL NIL
3. a) LDO (Light Diesel Oil) NIL NIL
Quantity (Litres)
Total Amount (Rs.) NIL NIL
Average Rate (Rs./Litre) NIL NIL
b) Consumption per unit of production :- NIL NIL
No new technology is innovated or adopted in the
manufacturing process during the year.
c) Foreign Exchange Earnings : Rs. NIL NIL
Foreign Exchange and Outgo : Rs. NIL NIL
For and on behalf to the Board of Directors
S. M. PARANDE
(Managing Director)
Mumbai : 30.08.2001 | 