| The Directors of the Company submit the Twelfth Annual Report together
with the audited statement of accounts of the Company for the year
ended 31st March, 2000.
FINANCIAL RESULTS :
As at 31st March, 2000 As at 31st March, 1999
Rs. Rs. Rs. Rs.
Surplus before providing
for interest &
Depreciation amounts to 1,42,58,758 1,42,09,196
Less : Interest 93,30,682 90,93,736
Depreciation 46.79,437 1,40,10,119 39,97,775 1,30,91,511
2,48,639 11,17,685
Add : Credit Balance
brought forward from
Previous year 59,29,918 49,32,233
61,78,557 60,49,918
Less : Provision for
Income Tax 30,000 1,20,000
61,48,557 59,29,918
Transfer to General
Reserve -- --
Balance Carried to Balance
Sheet 61,48,557 59,29,918
DIVIDEND :
The Directors do not recommend payment of dividend for the year ended
31.03.2000 due to nominal profit available after appropriation during
the year under review.
GENERAL REVIEW :
There was decrease in turnover as compared to the previous year. The
low turnover was due to paucity of working capital. This also resulted
in low net profit on account of high interest and depreciation charges
for achieved turnover.
Inspite of lower turnover your company was able to maintain same level
of gross profit by improving it's gross margin percentage. This was
achieved mainly by control over wastage by modernisation of machines,
reduction in work force and huge reduction in expenses and overheads.
This is a healthy sign and your company can greatly increase it's net
profit by increasing it's turnover in coming years.
Y2K REPORT :
The company have no Y2K problems in its computers. All the program for
millenium year has been fully adjusted in computer program and the
directors are of the opinion that the company will have no problem for
Y2K.
PARTICULARS OF EMPLOYEES :
The Board wish to place on record its appreciation of the services
rendered by Executives, Staff & Workers at all levels during the year
under review. However, none of employees falls under the purview of
Section 217(2A) of the Companies Act, 1956 read with Companies
(Particulars of Employees) Rules, 1975.
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION ETC. :
The particulars 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, are attached hereto & form part of
this report.
DIRECTORS :
In accordance with the requirements of the Companies Act, 1956 and the
Articles of Association of the Company, Shri M.M. Goenka, Director is
going to retire by rotation and being eligible has offered himself for
reappointment.
AUDITORS :
M/s. R.C. Jhawer & Co., Chartered Accountants, the auditors of the
Company, retires and being eligible offer themselves for
re-appointment.
GENERAL :
The Directors wish to place on record their appreciation to the
Financial Institutions, Banks and other Authorities for their kind
co-operation, during the year, to the Company.
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 forming part of Director's Report.
A. CONSERVATION OF ENERGY :
The Company has concentrated its efforts at energy conservation at all
its Plants through efficient utilisation of machines and equipment
(though none of them energy intensive).
B. TECHNOLOGY ABSORPTION :
a) The Company has concentrated its efforts in developing high standard
products for packing of milk, lubricants, vegetable ghee etc. and
improvement of the quality in strength and printing of existing
packaging materials.
b) The above efforts have shown encouraging results, as orders for milk
& vegetable ghee, packaging, from prestigious customers are received
and more are in process.
c) The Company proposes to supplement its above mentioned efforts with
better quality control measures for its product.
d) Expenditure on R&D :
i) Capital : Rs. --
ii) Recurring : Rs. --
iii) Total : Rs. --
iv) Total R&D Expenditure as
percentage of total turnover : Rs. --
C. FOREIGN EXCHANGE EARNINGS AND OUT GO :
Earnings in Foreign Exchange : Rs. 3,11,284
Out go in Foreign Currency : Rs. 16,26,322 |
