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The Directors have pleasure in presenting the Sixth Annual Report of
the Company and the Audited Financial Accounts for the year ended 31st
March, 2000.
Year ended Year ended
31-03-2000 31-03-1999
(Rs. in lacs) (Rs.in lacs)
(A) FINANCIAL RESULTS
Sales 2432.22 1172.01
Profit(-) Loss before 91.26 47.22
depreciation and Provision
for taxation
Depreciation 49.31 39.14
Provision for Taxation 4.00 1.30
Net Profit (-) Loss for 37.95 6.78
the year carried
to Balance Sheet
(B) DIVIDEND
In view of small profit made by the company and to conserve resources,
Directors do not recommend any dividend for the year.
(C) DEPOSITS
The Company has not accepted any deposits from the public during the
year.
(D) REVIEW OF OPERATIONS
During the year under review the company achieved sales of Rs. 2432
lacs which shows 107.5% growth over previous year's sales. The company
has consolidated its market share in existing market segments. The
company has also entered IT field and also obtained registration with
Software Technology Park. The Company has also plans to diversify in
Infrastructure business and for the purpose has planned to promote a
subsidiary. The benefits from which will accrue in the coming years.
The products and brand name have found very good acceptance in the
market. The Company has consolidated market share and now shall
concentrate on developing new markets and also cost control and
reduction because inspite of increasing sales the company has not been
able to achieve desired level of profitability.
(E) BOARD OF DIRECTORS
Mr. Kantibhai P. Patel, Director of the Company retires by rotation
offers himself for re-appointment.
Ms. Jagruti B. Modi Director of the Cornpany retires by rotation and
being eligible, others herself for re-appointment.
(F) PREFERENTIAL ISSUE
During the year the company has successfully completed the preferential
issue of 60 lac equity shares of Rs. 10/- each for cash at par and the
proceeds have been used for the purpose for which the issue was made.
The Ahmedabad Stock exchange has granted Listing permission and listing
permission from the Bombay Stock Exchange is awaited.
(G) INFORMATION OF EMPLOYEES
No employee was drawing salary in excess of limit prescribed u/s. 217
(2A) of the Companies Act, 1956 and the Rules made there under.
(H) PARTICULARS UNDER SECTION 217(1)(e)
Statement of particulars under section 217(1)(e) regarding
conservation of energy, technology absorption, foreign exchange
earnings and outgo is annexed.
(I) AUDITORS
The Statutory Auditors, M/s. P. Dalal & Co., Chartered Accountants,
retire at the forthcoming Annual General Meeting (AGM) and are eligible
for reappointment. The members are requested to consider their
reappointment for the ensuing year.
RESEARCH AND DEVELOPMENT
The Company through its R & D efforts has made significant progress in
various activities like Process Development, Analytical Methods,
Development and Chemical Synthesis.
FORM-B
Form of disclosure of particulars with respect to the technology
absorption.
The Company has adopted indigenous technology and follows Good Medical
Practice (GMP) standards.
FOREIGN EXCHNAGE EARNING AND OUT GO
a) Foreign Exchange Earning Rs. 2,172.50 (previous year Rs. Nil).
b) Foreign, Exchange Outgo Rs. 2,81,220/- (previous year Rs.
11,67,700/-).
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