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Directors Report of Bheema Cements Ltd.

Mar 31, 2013

The Directors have pleasure in presenting the 34th Annual Report together with the Audited Statement of Accounts of your Company for the year ended 31st March, 2013.

FINANCIAL RESULTS:

The Financial highlights for the year under review are given below:

(Rs. in lakhs)

2012-13 2011-12

Sales and Other Income 19,990.90 16,396.24

EBIDTA 1,221.44 1,038.66

Interest 1,147.21 1,173.02

Depreciation 441.62 427.14

Profit Before Tax (367.39) (561.50)

Provision for Tax* * 1,545.80 *(52.14)

Profit After Tax (1,913.19) (509.36)

Net Worth** **13,120.87 **15,014.26

* Includes Provision for Deferred Tax of Rs. 1,545.80 Lakhs

** Includes Mineral Capitalization Reserve of Rs. 9,289.06 Lakhs.

OPERATIONS

Your Directors are glad to report that the Company has maintained satisfactory Production and Sales levels. During the year the Company achieved Cement production of 5,06,836,38 MTs (Previous year 3,13,038.48 MTs) and 4,14,681.00 MTs of Clinker (previous year 3,15,770 MTs). The Company sold 5,02,509.95 MTs Cement (Previous year 3,13,803.80 MTs, Includes 643 MTs processed / ground by a third party through job work) and 31,658.92 MTs of Clinker during the year (previous year 1,07,928.65 MTs).

DEBT RESTRUCTURING

You are aware of that your Company was referred to CDR and CDR EG has approved the debt restructuring package of the debt profile of the Company during the year 2010-11. Further to the sanctioning of a Debt Restructuring package your company has completed formalities as per the Debt Restructuring package, Bankers have restructured and rescheduled the existing term loans and other facilities and their terms of repayment as per the debt restructuring Package. Further Banks have sanctioned and released fresh term loans to complete the expansion project. Expansion Project has been completed successfully during the year 2012-13.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Board of Directors state;

i) that in preparation of the Annual Accounts, applicable accounting standards have been followed and there were no material departures there from except as otherwise explained in the notes to accounts;

ii) that the directors have selected such accounting policies and adopted them consistently, except as stated in the notes on accounts, and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as on 31st March, 2013 and Profit & Loss account of the company for the year ended 31st March,2013. The auditor''s comments in this regard are self explanatory;

iii) that the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) that the accounts were prepared on a going concern basis.

DIRECTORS

Sri S.V. Reddy, Director of the Company who retires by rotation and being eligible, offers himself for re-appointment.

AUDITORS

M/s. A. Ramachandra Rao & Co., Chartered Accountants, Auditors of the Company retires at the conclusion of this Annual General Meeting and they are eligible for re-appointment as statutory auditors of the Company to audit the accounts of the Company for the financial year 2013-14.

COST AUDITORS

Pursuant to the provisions of Section 233B of the Companies Act, 1956, your Directors have appointed M/s DZR & Co., Cost Accountants as Cost Auditors for the Financial Year 2013-14.

PARTICULARS OF EMPLOYEES

The information required under Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of employees) Rules, 1975 as amended, the names and other particulars of the employees are set out in the annexure to the Director''s Report excluding the afore said information is being sent to all the members of the Company and others entitled thereto. Any member interested in obtaining such particulars may write to the Company Secretary at the Registered Office of the Company.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Additional information on Conservation of Energy, Technology absorption, Foreign Exchange earnings and out go as required to be disclosed in terms of 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 is annexed thereto (Annexure-I) and forms part of this report.

HUMAN RESOURCES

Human resources assume greater importance and have a significant place in the Organizational Structure. The core of achieving business excellence lies in a dedicated and talented employee base. The first step towards this is attracting the right talent through our streamlined and structured recruitment process. Your Company has put in place an effective human resource management team and has done scalable quality recruitment. Your Company has adopted a culture that rewards continuous learning, teamwork and development of employee skills which plays vital role to face the challenges posed by ever-changing market realities. The efforts of your Company in the area of employee management and HR practices have been proved effective in Human Resource Management. Emphasis is given to the overall development of the personality of individual employee. Welfare schemes for employees and their families are being implemented in your Company.

Your company has been holding monthly meetings at factory for the last 15 years where the Management interacts with all the employees which forges a good employer employee relation and also provides the platform to express their views for achieving better results. This has led to increased employee participation for better productivity and congenial environment at work.

Since the date of incorporation your Company has not lost a single day of work due to industrial strike. The industrial relations during the year were harmonious. Your Directors wish to place on record the co-operation extended by Employees in achieving the objectives of your Company.

CORPORATE SOCIAL RESPONSIBILITY

At Bheema Cements, we have a strong focus on social and community welfare programmes. Corporate Social Responsibility and Public Service is deeply embedded into the cultural fabric of Bheema Cements Ltd.The Company has clearly identified the community as one of the significant stakeholders and is keenly interested in responding to their needs in a systematic manner. Your Company is making a meaningful contribution to uplifting and transforming the lives of the underprivileged. The Company is also extremely conscious of its duty and responsibility towards the environment. Your company continue to make sincere efforts to promote good health, social development and better environment, through various Company programs that contribute to sustainable, all round growth. Your Company supports various social causes by providing drinking water and minimum education to the people in the adjoining villages. Your Company takes active interest in environmental issues and is continually making efforts to make eco-friendly zone. Your Company has also assisted the surrounding community with veterinary camps for Cattle. Your company made significant contributions towards education, sports, health and community welfare.

ACKNOWLEDGEMENTS

Your Directors wish to take this opportunity to express their grateful appreciation and deep sense of gratitude to the AXIS Bank, Corporation Bank, ICICI Bank, Karnataka Bank, Oriental Bank of Commerce, State Bank of Hyderabad and United Bank of India, CDR Cell, various Departments of Central and State Governments and consultants for their valuable guidance and co-operation extended during the year and look forward to their continued support in future. Your Directors would like to thank all the Share Holders, Dealers and Consumers for the confidence reposed in the Company and its management.

Your Directors wish to place on record the deep sense of appreciation of the devoted services rendered by the Executives, Staff and Workers of the Company at all levels.



For and on behalf of the Board



Sd/-

Place: Hyderabad S. CHANDRA MOHAN

Date: 13th August, 2013 CHAIRMAN

Sd/-

S.R.B.RAMESH CHANDRA

MANAGING DIRECTOR


Mar 31, 2012

The Directors have pleasure in presenting the 33rd Annual Report together with the Audited Statement of Accounts of your Company for the year ended 31st March, 2012.

FINANCIAL RESULTS:

The Financial highlights for the year under review are given below: (Rs. in lacs)

2011-12 2010-11

Sales and Other Income 16,396.24 9,295.04

EBITA 1,038.67 (553.54)

Interest 1,173.03 1,178.18

Depreciation 427.14 428.07

Profit Before Tax (561.50) (2,159.79)

Provision for Tax** (52.14) (2.79)

Profit After Tax (509.36) (2,157.00)

Net Worth** ** 15,014.26 13,200.61

* Includes Provision for Deferred Tax.

** Includes Mineral Capitalization Reserve of Rs.10,017.38 Lacs.

OPERATIONS

Your Directors are glad to report that the Company has maintained satisfactory Production and Sales levels. During the year the Company achieved Cement production of 3,13,038.48 MTs (Previous year 2,92,924 MTs) and 3,15,770 MTs of Clinker (previous year 2,64,883 MTs). The Company sold 3,13,803.80 MTs Cement (Includes 643 MTs processed / ground by a third party through job work) (Previous year 3,03,166 MTs, Includes 10075.00 MTs processed / ground by a third party through job work) and 1,07,928.65 MTs of Clinker during the year(previous year 19,129.30 MTs).

DEBT RESTRUCTURING

You are aware of that your Company was referred to CDR and CDR EG has approved the debt restructuring package of the debt profile of the Company during the previous year 2010-11. Further to the sanctioning of a Debt Restructuring package your company has completed all formalities as per the Debt Restructuring package during the current year. The Bankers have restructured and rescheduled the existing term loans and other facilities and their terms of repayment as per the debt restructuring Package. Further Banks have sanctioned and released fresh term loans to complete the expansion project. Expansion works are under Progress.

DIRECTORS'RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Board of Directors state:

i) that in preparation of the Annual Accounts, applicable accounting standards have been followed and there were no material departures there from except as otherwise explained in the notes to accounts;

ii) that the directors have selected such accounting policies and adopted them consistently, except as stated in the notes on accounts, and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as on 31st March, 2012 and Profit & Loss account of the company for the year ended 31st March, 2012. The auditor's comments in this regard are self explanatory;

iii) that the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) that the accounts were prepared on a going concern basis.

DIRECTORS

Sri K.R.Chari, Director of the Company who retires by rotation and being eligible, offers himself for re-appointment.

AUDITORS

M/s. A. Ramachandra Rao & Co., Chartered Accountants, Auditors of the Company retires at the conclusion of this Annual General Meeting and they are eligible for re-appointment as statutory auditors of the Company to audit the accounts of the Company for the financial year 2012-13.

COST AUDITORS

Pursuant to the provisions of Section 233B of the Companies Act, 1956, your Directors have appointed M/s DZR & Co., Cost Accountants as Cost Auditors forthe Financial Year 2012-13.

PARTICULARS OF EMPLOYEES

The information required under Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of employees) Rules, 1975 as amended, the names and other particulars of the employees are set out in the annexure to the Director's Report. Having regard to the provisions of Section 219 (1)(b)(IV)of the said Act, the Annual Report excluding the afore said information is being sent to all the members of the Company and others entitled thereto. Any member interested in obtaining such particulars may write to the Company Secretary at the Registered Office of the Company.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Additional information on Conservation of Energy, Technology absorption, Foreign Exchange earnings and out go as required to be disclosed in terms of 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 is annexed thereto (Annexure-I) and forms part of this report.

HUMAN RESOURCES

With the size of expansion going on in your Company, human resources assume greater importance and have a significant place in the Organizational Structure. The human resource policy and strategy of your Company has been designed to attract and retain the best talent and creating a workplace environment that keep employees engaged, motivated and encourages innovation. Your Company has put in place an effective human resource management team and has done scalable quality recruitment. Your Company has fostered a culture that rewards continuous learning, collaboration and development, making it future-ready with respect to the challenges posed by ever-changing market realities. Your Company has in place an Internal Recruitment system and Talent Management Initiatives form part of individual employee development. The efforts of your Company in the area of employee management and HR practices have been proved effective in Human Resource Management. Emphasis is given to the overall development of the personality of individual employee. Welfare schemes for employees and their families are being implemented in your Company.

Your company has been holding monthly meetings at factory for the last 13 years where the Management interacts with all the employees which forges a good employer employee relation and also provides the platform to express their views for achieving better results. This has led to increased employee participation for better productivity and congenial environment at work.

Since the date of incorporation your Company has not lost a single day of work due to industrial strike. The industrial relations during the year were harmonious. Your Directors wish to place on record the co-operation extended by Employees in achieving the objectives of your Company.

CORPORATE COMMITMENT TO THE COMMUNITY

Corporate Commitment to the Community and Public Service is deeply embedded into the cultural fabric of Bheema Cements Ltd. Bheema Cements Ltd has always lived by its philosophy of "Serving Society through Industry". Over the years serious efforts have been directed towards making a meaningful contribution to uplifting and transforming the lives of the underprivileged. The Company is also extremely conscious of its duty and responsibility towards the environment. Your company continue to make sincere efforts to promote good health, social development and better environment, through various Company programs that contribute to sustainable, all round growth. Your Company supports various social causes by providing drinking water and minimum education to the people in the adjoining villages. Your Company takes active interest in environmental issues and is continually making efforts to make eco- friendly zone. Your Company has also assisted the surrounding community with veterinary camps for Cattle. Your company made significant contributions towards education, sports, health and community welfare.

ACKNOWLEDGEMENTS

Your Directors wish to take this opportunity to express their grateful appreciation and deep sense of gratitude to the AXIS Bank, Corporation Bank, ICICI Bank, Karnataka Bank, Oriental Bank of Commerce, State Bank of Hyderabad and United Bank of India, CDR Cell, various Departments of Central and State Governments and consultants for their valuable guidance and co-operation extended during the year and look forward to their continued support in future. Your Directors would like to thank all the Share Holders, Dealers and Consumers for the confidence reposed in the Company and its management.

Your Directors wish to place on record the deep sense of appreciation of the devoted services rendered by the Executives, Staff and Workers of the Company at all levels.

For and on behalf of the Board Sd/-

Place: Hyderabad S. CHANDRA MOHAN

Date: 13th August, 2012 CHAIRMAN

Sd/

S.R.B.RAMESH CHANDRA

MANAGING DIRECTOR


Mar 31, 2010

The Directors have pleasure in presenting the 31st Annual Report together with the Audited Statement of Accounts of your Company for the year ended 31st March, 2010.

FINANCIAL RESULTS:

The Financial highlights for the year under review are given below: (Rs. in lacs)

2009-10 2008-09

Sales and Other Income 9682.72 8878.39

EBITA 2404.50 2864.85

Interest 484.64 562.57

Depreciation 298.99 300.54

Profit Before Tax 1620.87 2001.74

Provision for Tax* *616.20 *513.26

Profit After Tax 498.72 1546.32

Net Worth** **15605.94 **16207.32

* Includes Provision for Fringe Benefit Tax and Deferred Tax

** Includes Mineral Capitalization Reserve of Rs.728.32 Lacs. OPERATIONS

Your Directors are glad to report that the Company has maintained satisfactory Production and Sales levels. During the year the Company achieved production of 2,51,600 MTs of Cement (Previous year 2,56,479 MTs) and sold 2,51,709 MTs (Previous year 2,56,200 MTs) and the Company has produced 1,63,594 MTs Clinker during the year (previous year 1,68,700 MTs). DIVIDEND

Your Directors are pleased to recommend dividend @12% on Equity Share Capital of the Company for the Year ended 31 st March ,2010.

DIRECTORSRESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956 the Board of Directors state:

i) that in preparation of the Annual Accounts, applicable accounting standards have been followed and there were no material departures there from except as otherwise explained in the notes to accounts.

ii) that the directors have selected such accounting policies and adopted them consistently, except as stated in the notes on accounts, and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as on 31st March, 2010 and Profit & Loss account of the company for the year ended 31s March, 2010. The auditors comments in this regard are self explanatory.

iii) that the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) that the accounts were prepared on a going concern basis.

DIRECTORS

Sri K.R. Chari retires by rotation and being eligible, offers himself for re-appointment.

AUDITORS

A. Ramachandra Rao & Co., Chartered Accountants, Auditors of the Company retire at the conclusion of this Annual General Meeting and they are eligible for re-appointment as statutory auditors of the Company to audit the accounts of the Company for the financial year 2010-11.

COST AUDITORS

Pursuant to the provisions of Section 233B of the Companies Act, 1956 your Directors have appointed M/s DZR & Co., Cost Accountants as Cost Auditors forthe Financial Year 2010-11.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Additional information on Conservation of Energy, Technology absorption, Foreign Exchange earnings and out go as required to be disclosed in terms of 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 is annexed thereto (Annexure-I) and forms part of this report.

HUMAN RESOURCES

Your Company maintains a constructive relationship with its employees by creating a positive work environment with focus on improving productivity and efficiency. Your company adopts an open door policy to promote better working environment for all employees that encourages innovation and creativity. Your company has been holding monthly meetings at factory for the last 11 years where the Management interacts with all the employees which nurtures a good employer employee relation and also provides to air their views for achieving better results. This has led to increased employee participation for better productivity and cogenial environment at work.

Since the date of incorporation your Company has not lost a single day of work due to industrial strike. The industrial relations during the year were harmonious. Your Directors wish to place on record the co-operation extended by Employees in achieving the objectives of your Company.

Your Company has in place an Internal Recruitment Scheme, Training Programmes and Talent Management Initiatives for providing growth to employees.

CORPORATE COMMITMENT TO THE COMMUNITY

Your Company has always been a responsible corporate citizen and has made significant contributions towards community development. Bheema Cements Ltd has always lived by its philosophy of "Serving Society through Industry". Your Company believes in living every moment of life in harmony with nature to create value for itself, its stakeholders and the society. Your

Company supports various social causes by providing drinking water, basic medical facilities and minimum education to the people in the adjoining villages. Your Company takes active interest in environmental issues and is continually making efforts to make eco-friendly zone. Your Company has also been assisting the surrounding community with primary health and veterinary programs. Your company made significant contributions towards education, sports, health and community welfare.

ACHIEVEMENTS

Your directors are happy to state that your company has been awarded the ISO 9001:2008 Certification for its Quality Management System Standard by DN V, Netherlands.

ACKNOWLEDGEMENTS

Your Directors wish to take this opportunity to express their grateful appreciation and deep sense of gratitude to the AXIS Bank, Corporation Bank, ICICI Bank, Karnataka Bank, Oriental Bank of Commerce, State Bank of Hyderabad and United Bank of India, various Departments of Central and State Governments for their valuable guidance and co-operation extended during the year and look forward to their continued support in future. Your Directors would like to thank all the Share Holders, Dealers and Consumers for the confidence reposed in the Company and its management.

Your Directors wish to place on record a deep sense of appreciation for the devoted services rendered by the Executives, Staff and Workers of the Company at all levels.

For and on behalf of the Board

Sd/- Place: Hyderabad S. CHANDRA MOHAN

Date: 14th August, 2010 CHAIRMAN

Sd/- S.R.B.RAMESH CHANDRA

MANAGING DIRECTOR

 
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