Home  »  Company  »  Parab Infra  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Parab Infra Ltd.

Mar 31, 2013

TO, The Member of PACHELI ENTERPRISES LIMITED

The Directors present herewith their Annual Report of the Company together with the Audited Annual Accounts of the Company for the year ended 31st March, 2013.

1) FINANCIAL PERFORMANCE:

During the year the Company has gained a profit of Rs.3,40,639/-.

2) DIVIDEND:

With a view to conserve resources for the future expansion plans of the Company, your Directors do not recommend any dividend for the year ended 31st March, 2013.

3) FUTURE OUTLOOK:

The Company is looking for new business opportunities and planning to explore the core areas of business.

4) CAPITAL RESTRUCTURING THROUGH CAPITAL REDUCTION a PREFERENTIAL ALLOTMENT:

During the year under review, pursuant to the approval of shareholders and approval of Hon''ble High Court vide its order dated 14th September, 2012 for arrangement ,for reconstruction/ restructuring of capital of the Company , the paid up capital of the Company has been reduced from Rs.4,14,00,000/- divided into 41,40,000 Equity Shares of Rs.10 each fully paid to Rs. 16,56,000 divided in to 1,65,600 Equity Shares of Rs.10 each fully paid which capital had been lost and is unrepresented by the available assets and to effect such Reduction by setting off its Accumulated Losses in the Profit and Loss Account to the extent of Rs. 3,97,44,000/- and further by way of issuing and allotting 40,00,000 (Forty Lakhs) Equity Shares of the Company having face value of Rs. 10.00 (Rupees Ten) each at a price of Rs. 10/- (Rupees Ten) per equity share. Total Paid up Capital post restructuring stood at Rs. 4,16,56,000/- as on 31st March 2013.

5) DIRECTOR''S RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to the Directors'' Responsibility Statement, it is hereby confirmed that

(i) In the preparation of Annual Accounts for the financial year ended 31st March 2013, the applicable Accounting Standards had been followed along with proper explanation relating to material departures.

(ii) The directors had selected such accounting policies and applied them and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the year under review.

(iii) The directors had 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 fraud and other irregularities.

(iv) The directors had prepared the accounts on a going concern basis.

6) DIRECTORS:

Mr. Amrit Gandhi, as Director of the Company, who retires by rotation and being eligible offers himself for re-appointment.

Ms. Vidya Chalke, as Director of the Company, who retires by rotation and being eligible offers herself for re-appointment.

Mr. Padamchand Dhoot, Director of the Company retires by rotation has expressed his unwillingness to get re-appointed.

7) AUDITOR''S OBSERVATIONS I QUALIFICATIONS :

The report of the Auditors of the Company for the year under reference is self explanatory and do not call for any comments from Director.

8) DEPOSITS:

During the year under review, the Company did not accept any deposit from the public within the meaning of Section 58Aof the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rule, 1975 as amended.

9) AUDITORS:

M/s. Gowadia & Co., Chartered Accountants, as auditors of the Company retire at the ensuing Annual General Meeting of the Company and being eligible for re-appointment have offered themselves for re- appointment M/s. Gowadia & Co., Chartered Accountants have confirmed that the appointment, if made, will be in accordance with the limits prescribed under Section 224(1 B) of the Companies Act, 1956.

10) PARTICULAR OF EMPLOYEES :

Pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended, your Company has no person in its employment drawing salary within the monetary ceiling prescribed under section 217 (2A) of the Companies Act, 1956.

11) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:

There is no manufacturing or trading activities of the company. Further there was no foreign exchange earnings and outgo during the year under review. Hence, your directors have nothing to report under this head.

12) CORPORATE GOVERNANCE :

The disclosures as required under the Corporate Governance standards have been furnished as a part of this report. The Company has been practicing the principles of good corporate governance. In addition to basic governance issues, the Board lays strong emphasis on transparency, accountability and integrity.

13) LISTING OF SHARES:

The shares of the Company are listed at The Bombay Stock Exchange Limited, Mumbai and applicable listing fees have been paid within the prescribed time limits.

14) ACKNOWLEDGEMENT:

We would like to thank the shareholder & customers for showing their confidence, patience and support.

The Board would like to place on record its appreciation and thanks to the Investors, Customers, Suppliers and Bankers for their support, co-operation, guidance and the confidence reposed on the Company.

(FOR AND ON BEHALF OF THE BOARD)

For Pacheli Enterprises Ltd.

sd/-

Amrit Ghandhi

Director

Place : Mumbai

Dated : 30th May, 2013


Mar 31, 2012

To, The Members of Pacheli Enterprises Limited

The Directors present herewith their Annual Report of the Company together with t Audited Annual Accounts of the Company for the year ended 31st March, 2012.

FINANCIAL PERFORMANCE:

During the year the Company has gained a profit of Rs. 34,358/-.

DIVIDEND

The Directors do not recommend any dividend for the year ended 31st March, 2012.

FUTURE OUTLOOK:

The Company is looking for new business opportunities and planning to explore the core areas of business.

DIRECTOR,S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to the Directors, Responsibility Statement, it is hereby confirmed that

(i) In the preparation of Annual Accounts for the financial year ended 31st March 2012, the applicable Accounting Standards had been followed along with proper explanation relating to material departures;

(ii) The directors had selected such accounting policies and applied them and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the year under review;

(iii) The directors had 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 fraud and other irregularities;

(iv) The directors had prepared the accounts on a going concern basis.

DIRECTORS

Mr. Vijay Pandhere, as Director of the Company, who retires by rotation and being eligible offers himself for re-appointment.

Mr. Brijesh Maurya, as Director of the Company, who retires by rotation and being eligible offers herself for re-appointment.

Mr. Ramesh Khetan, was appointed as Additional Director of the Company with effect from July 31, 2012 and Mr. Ramavtar Shekhavat has resigned from the Company with effect from July 31, 2012 as a Director of the Company.

AUDITOR,S OBSERVATIONS / QUALIFICATIONS:

The report of the Auditors of the Company for the year under reference is self explanatory and do not call for any comments from Director.

DEPOSITS:

During the year under review, the Company did not accept any deposit from the public within the meaning of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rule, 1975 as amended.

AUDITORS:

M/s. Shyam C. Agrawal & Co., Chartered Accountants, as auditors of the Company retire at the ensuing Annual General Meeting of the Company and being eligible for re-appointment have offered themselves for re-appointment

M/s. Shyam C. Agrawal & Co., Chartered Accountants have confirmed that the appointment, if made, will be in accordance with the limits prescribed under Section 224(1B) of the Companies Act, 1956.

PARTICULAR OF EMPLOYEES

Pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended, your Company has no person in its employment drawing salary within the monetary ceiling prescribed under section 217 (2A) of the Companies Act, 1956.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:

There is no manufacturing or trading activities of the company. Your directors have noting to report under this head.

CORPORATE GOVERNANCE:

The disclosures as required under the Corporate Governance standards have been furnished as a part of this report. The Company has been practicing the principles of good corporate governance. In addition to basic governance issues, the Board lays strong emphasis on transparency, accountability and integrity.

LISTING OF SHARES:

The shares of the Company are listed at The Bombay Stock Exchange Limited, Mumbai and applicable listing fees have been paid within the prescribed time limits. During the year the Bombay stock Exchange had revoked the suspension of the securities from trading and now the securities are available for trading.

COMPLIANCE CERTIFICATE:

As required under section 383 A of the Companies Act, 1956, the Company has obtained a Compliance Certificate from a Practicing Company Secretary is annexed to this Annual Report.

ACKNOWLEDGEMENT:

We would like to thank the shareholder & customers for showing their confidence, patience and support.

The Board would like to place on record its appreciation and thanks to the Investors, Customers, Suppliers and Bankers for their support, co-operation, guidance and the confidence reposed on the Company.

For and on behalf of the Board

For PACHELI ENTERPRISES LIMITED

Sd/- Sd/-

Managing Director Director

Place: Mumbai

Date: August 31, 2012


Mar 31, 2011

To The Members of Pacheli Enterprises Limited

The Directors present here by their Annual Report of the Company together with the Audited Annual Accounts of the Company for the year ended 31st March, 2011.

FINANCIAL PERFORMANCE:

During the year the Company has gained a profit of Rs.61,000.

DIVIDEND

The Directors do not recommend any dividend for the year ended 31st March, 2011.

CHANGE OF NAME AND OBJECTS OF THE COMPANY

During the year the Company has changed its name from Mandsaur Ferro Alloys Limited to Pacheli Enterprise Limited pursuant to the change in the objects clause of the Memorandum of Association of the Company.

SH5FTING OF REGISTERED OFFICE OF THE COMPANY

The Company has shifted the registered office from the State of Madhya Pradesh to the State of Maharashtra vide the Company Law Bench, Madhya Pradesh order dated 30th June, 2011. Presently the registered office is situated under the jurisdiction of the Registrar of Companies, Mumbai, Maharashtra.

FUTURE OUTLOOK:

The intention of the new promoters is to enter into new line of business of Providing Loan for Housing and Business Purposes for which the strategy and plans are being put in place. Members will be briefed about the same as and when the same take concrete shape.

DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to the Directors'' Responsibility Statement, it is hereby confirmed that

(i) In the preparation of Annual Accounts for the financial year ended 31M March 2011, the applicable Accounting Standards had been followed along with proper explanation relating to material departures;

(ii) The directors had selected such accounting policies and applied them and made judgments and estimates that were reasonable and prudent so as to give a true and fair via the state of affairs of the Company at the end of the financial year and of the profit to the company for the year under review;

(iii) The directors had 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 other irregularities;

(iv) The directors had prepared the accounts on a going concern basis.

DIRECTORS

Mr. Santosh Mohite, as Director of the Company, who retires by rotation and being eligible offers himself for re-appointment.

Mrs. Vidya Chalke, as Director of the Company, who retires by rotation and being eligible offers herself for re-appointment.

AUDITOR''S OBSERVATIONS/QUALIFICATIONS:

The report of the Auditors of the Company for the year under reference is self explanatory and do not call for any comments from Director.

DEPOSITS:

During the year under review, the Company did not accept any deposit from the public within the meaning of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rule, 1975 as amended.

AUDITORS:

M/s. Shyam C. Agrawal & Co., Chartered Accountants, Mumbai, as auditors of the Company retire at the ensuing Annual General Meeting of the Company and being eligible for re-appointment have offered themselves for re-appointment

M/s. Shyam C. Agrawal & Co., Chartered Accountants have confirmed that the appointment if made, will be n accordance with the limits prescribed under Section 224(1 B) of the Companies A,,:, 1956.

PARTICULAR OF EMPLOYEES

Pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended, your Company has no person in its employment drawing salary within the monetary ceiling prescribed under section 217 (2A) of the Companies Act, 1956.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:

There is no manufacturing or trading activities of the company. Your directors have noting to report under this head.

CORPORATE GOVERNANCE:

The disclosures as required under the Corporate Governance standards have been furnished as a part of this report. The Company has been practicing the principles of good corporate governance. In addition to basic governance issues, the Board lays strong emphasis on transparency and ability and integrity.

LISTING OF SHARES:

The shares of the Company are listed at The Bombay Stock Exchange Limited, Mumbai and Madhya Pradesh Stock Exchange applicable listing fees have been paid within the prescribed time limits._ The trading in shares of the Company is suspended. Management is taking due efforts regularize the compliances so that trading of the shares of the Company commences.

ACKNOWLEDGEMENT:

We would like to thank share holder & customers for showing their confidence, patience and support.

The Board would like to place on record its appreciation and thanks to the Investors, Customers, Suppliers and Bankers for their support, co-operation, guidance and the confidence reposed on the Company.

For and on behalf of the Board

For PACHELI ENTERPRISES LIMITED

Sd/- Chairman Place: Mumbai

Date : 29th July, 2011


Mar 31, 2010

The Directors present herewith their Annual Report of the Company together with the Audited Annual Accounts of the Company for the year ended 31st March, 2010.

FINANCIAL PERFORMANCE:

During the year the Company has suffered a loss of Rs. 18,25,324.

DIVIDEND

The Directors do not recommend any dividend for the year ended 31 st March, 2010.

PROSPECTS IN THE COMING YEAR:

With the induction of new Directors on the Board, the Company is proposing to enter into new areas of business such as Trading in various goods and commodities, entering into Infrastructure ventures with the associate companies. The existing market is prospective in the Trading and Infrastructure activities and the Company will take the benefit by utilizing its resources in optimum level.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to the Directors Responsibility Statement, it is hereby confirmed:

(i) that in the preparation of Annual Accounts for the financial year ended 31st March 2010, the applicable Accounting Standards had been followed along with proper explanation relating to material departures;

(ii) that the directors had selected such accounting policies and applied them and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the year under review;

(iii) that the directors had 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 fraud and other irregularities;

(iv) that the directors had prepared the accounts on a going concern basis.

DIRECTORS

During the year, the Board had appointed Shri. Padamchand Dhoot, Shri. Santosh Mohite, Smt. Vidya Chalke, Shri. Ramavtar Shekhawat, Shri. Vijay Pandhere and Shri. Brijesh Mourya as an Additional Directotrs on the Board.

During the year, the Company had appointed Shri. Padamchand Dhoot as a Managing Director w.e.f. 17th August, 2010 subject to the approval of the members and such other authorities as may be required.

Retirement of Director :

Mr. Suneel Parikh, Mr. Navneet Parikh, Mr. Vinod. K Jain and Mr. Pankaj Jain, who retires by rotation and in respect of change in control of management of the Company, they does not offer themselves for re-appointment.

AUDITORS OBSERVATIONS/QUALIFICATIONS:

The report of the Auditors of the Company for the year under reference is self explanatory and do not call for any comments from Director.

DEPOSITS:

During the year under review, the Company did not accept any deposit from the public within the meaning of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rule, 1975 as amended.

AUDITORS:

In terms of provisions of the Companies Act, 1956, members are requested to appoint the Auditors of the Company.

PARTICULAR OF EMPLOYEES:

Pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended, your Company has no person in its employment drawing salary within the monetary ceiling prescribed under section 217 (2A) of the Companies Act, 1956.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:

There is no manufacturing or trading activities of the company. Your directors have noting to report under this head.

CORPORATE GOVERNANCE:

The disclosures as required under the Corporate Governance standards have been furnished as a part of this report. The Company has been practicing the principles of good corporate governance. In addition to basic governance issues, the Board lays strong emphasis on transparency, accountability and integrity.

LISTING OF SHARES:

The shares of the Company are listed at The Bombay Stock Exchange Limited, Mumbai and applicable listing fees have been paid within the prescribed time limits.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their appreciation for the continued support from the Shareholders, Investors, Customers, Suppliers and Bankers. Your Directors place on record their appreciation of the consistent contribution made by employees at all levels through their hard work, dedication, solidarity cooperation and acknowledge that their supports had enabled the Company to achieve new heights of success.

For and on behalf of the Board

Managing Director

Place: Mumbai Date : 17th August, 2010


Mar 31, 2002

Your Directors have the pleasure in presenting their thirteenth Annual Report together with the Audited Accounts for the year ended 31st March, 2002.

FINANCIAL RESULTS : For the Year For tee Year ended 31.3.2002 ended 31.3.2001 (Rs. In Lacs) (Rs. In Lacs)

1. Sales & Other Income - 2.59

2. Gross Profit before interest Depreciation and Taxes (-)4.14 (-)3.85

3. Interest 0.01

4. Depreciation - 22.67

5. Net Profit before taxes (-)4.15 (-)26.52

6. Net Profit after taxes (Carried to Balance Sheet) (-)4.15 (-) 26.52

7. Loss on Auction Sale of Fixed Assets by M.P.E.B. 135.89

8. Net Loss for the year 140.04 26.52

The companys plant has remained closed throughout the year. The entire assets of the company including land, building and all moveeble and immovadle assets had been seized by the M.P. Electricity Board against to dues under dispute. All the Assets have since been auctioned on 25.5.2001 fora consideration of Rs. 45.00 Lacs (Rs. Fourty five lacs only). The company has lodged protest against the said auction under advice of its legal advisor and is taking legal action in the matter. As a result of the sale of the companys Assets as mentioned above the company has suffered a great set back. A civil suit has since been filed in the District Court at Mandsaur against the auction sale of the Companys Assets carried out bye the M.P. Electricity Board.

DIVIDEND:

In view of the losses and circumstances mentioned above your directors regret their inability to declare any dividend for the year.

PUBLIC DEPOSITS :

The company has neither invited nor accepted any deposits from the public during the year.

DIRECTORS:

Shri Pankaj Jain retires by rotation and is eligible for reappointment.

PARTICULARS OF EMPLOYEES:

No employee was in receipt of remuneration during the year reqruired to be disclosed under section 217 (2A) of the companies Act, 1956.

PARTICULARS U/S 217 (1) (E) OF THE COMPANIES ACT, 1956

The particulars to be disclosed as required U/s 217 (1) (e) of the Companies Act, 1956 read with Disclosure of particulars in the Report of the Board of Directors Rules, 1988 are detailed in annexure to this report.

AUDITORS:

You are requested to appoint auditors and fix their remuneration. The retiring auditors M/s C.H Padliya & Co. are eligible for reappointment.

DIRECTORS RESPONSIBILITY STATEMENT U/S 217 (2AA) OF THE COMPANIES ACT, 1956

As required under provisions of section 217 (2AA) of the companies act, 1956, your directors have to state: (I) That in the preparation of the annual accounts, the applicable accounting standards had been followed alongwith proper explanation relating to material departures.

(II) that the directors had selected such accounting policies and applied them consistently 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 at the end of the financial year and the profit or loss of the company for that period.

(III) that the directors had taken proper and sufficient care for the maintainance of adequats 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 directors had prepared the annual accounts on a going concern basis.

There being no business activity being carried out by the company corporate governance report Is not furnished.

FOR & ON BEHALF OF THE BOARD PLACE: BOTALGANJ, DISTT. MANOSAUR (M.P.) (V.K. JAIN) DATED: 13TH AUGUST, 2002 (CHAIRMAN & MANAGING DIRECTOR.)

ANNEXURE TO DIRECTORS REPORT FOR THE YEAR 2001-2002 PARTICULARS U/S 217 (1) (E) OF THE COMPANIES ACT, 1956

(A) CONSERVATION OF EMERGY

(A) ENERGY CONSERVATION MAEASURS TAKEN.

The Company plant remained closed throughout the year.

(B) ADDITIONAL INVESTMENT AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY.

The companys plant has since been closed.

(C) IMPACT OF MEASURES (A) AND (B) ABOVE FOR REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT IMPACT ON THE COST OF PRODUCTION OF GOODS.

No production activity during the year.

(D) TOTAL ENERGY CONSUMPTION AND ENERGY CONSUMPTION PER UNIT OF PRODUCTION POWER AND FUEL CONSUMPTION

Current Year 31.03.2001 Previous Year 31.03.2000 1. Electricity

(a) Purchased Units (In lacs) Nil Nil

Total Amount (Rs. in lacs) Nil Nil

Rate per Unit (Rs.) Nil Nil

(b) Own Generation:

i)Through Diesel Generator Unit Nil Nil

Unit per Itr. of Diesel Oil Nil Nil

Cost per Unit Nil Nil

ii)Through steam turbine/generator units Nil Nil

Units per ltr. of Fuel Oil/Gas Nil Nil

Cost per Unit Nil Nil

2. Coal

Quantity (Tonnes) Nil Nil

Total Cost Nil Nil

Average Rate Nil Nil

3. Fumace Oil

Quantity (K.ltrs) Nil Nil

Total Cost Nil Nil

Rate/Unit Nil Nil

4. Other Internal Generation

Quantity Nil Nil

Rate/Unit Nil Nil

CONSUMPTION PER UNIT OF PRODUCTION

Product: Ceramic Tiles Nil Nil

Electricity (Units Per M. Ton) Nil Nil

Kerosene Oil (Litre per M. Ton) Nil Nil

Coal Nil Nil

Other Nil Nil

(B) TECHNOLOGY ABSORPTION

Research and Development (R&D)

1. Specific areas in which R&D carried out by the Company The Company has not carried out R&D activity during the year.

2. Benefits derived as a result of the above R&D Not applicable

3. Future Plan of action. The Company does hot have any future plans as at present.

4. Expenditure on R & D

(a) Capital Nil Nil

(b) Recurring Nil Nil

(c) Total Nil Nil

(d) Total R&D Expenditure as a percentage of total turnover Nil Nil

Technology Absorption, Adaptation and Innovation

1. Efforts, in brief, made towards technology Nil Nil absorption, adoption and innovation

2. Benefits derived as a result of the above Not applicable Not applicable efforts, e.g. product development import substitution etc.

3. In case of imported technology (Imported The Company has not imported any during the last 5 years reckoning from the technology so far. financial year.)

Following information may be furnished.

(a) Technology imported Not applicable Not applicable

(b) Year of import Not applicable Not appficable

(c) Has technology been fully absorbed Not applicable Not applicable

(d) If not fully absorbed areas where this Not applicable Not applicable has not taken place, reasons therefore and future plans of action

(C) FOREIGN EXCHANGE EARNING AND OUTGO

(a) Activities relating to exports initiatives Nil Nil taken to increase exports market for product services, and export plans.

(b) Total Foreign exchange used and earned. Nil Nil

For & on behalf of me Board of Directors PLACE: Botalganj, Distt. Mandsaur (V.K. JAIN) DATED: 13th August, 2002 CHAIRMAN & MANAGING DIRECTOR


Mar 31, 2000

The Directors have the pleasure in presenting their Eleventh Annual Report together with the Audited Accounts for the year ended 31st March, 2000.

FINANCIAL RESULTS :

For the Year For the Year ended 31-3-2000 ended 31.3.99 (Rs. In Lacs) (Rs. In Lacs)

Sales & Other Income 14.95 23.78

Gross Profit before interest Depreciation and Taxes (-) 69.29 (-) 20.95

Interest 2.55 0.31

Depreciation 24.20 36.63

Net Profit before taxes (-) 96.04 (-) 57.89

Net Profit after tax (Carried to Balance Sheet) (-) 96.04 (-) 57.89

As reported last the ferro chrome project had to be closed. The Ceremic tiles division also faced difficult market conditions during the year. The company had taken up additional activity of manufacturing sanitary ware, which also could not be continued due to unremunerative market conditions. The operations of the company's Plant had to be kept suspended.Since last week of May 1999. The figure of net loss of Rs. 96.04 lacs includes Rs. 77.26 lacs being the loss on sale of machinery.

DIVIDEND :

In view of losses suffered by the company, your directors are unable to recommend dividend for the year.

FUTURE OUTLOOK :

The market conditions still persist to be unfavourable, your directors are however, looking for new opportunities to come out of the crunch.

DIRECTORS :

Shri N.D. Parekh retires by rotation and is eligible for reappointment.

PUBLIC DEPOSITS :

The company has neither invited nor accepted any deposits from the public during the year.

PARTICULARS OF EMPLOYEES :

Since no employee was in receipt of remuneration in aggregate of Rs. 3,00,000/- or above during the year while employed through the year or at the rate of not less than Rs. 25,000/- per month, if employed for part of the year, statement showing information under section 217 (2A) of the companies Act, 1956 has not been furnished.

PARTICULARS U/S 217 (1) (E) OF THE COMPANIES ACT, 1956

The particulars to be disclosed as required U/s 217 (1)(e) of the Companies Act, 1956 read with (Disclosure of particulars in the Report of the Board of Directors Rules, 1988) are detailed in annexure to this report.

The company has neither faced nor envisages any Y-2K problem.

AUDITORS :

You are requested to appoint auditors and fix their remuneration. The retiring auditors M/s C.H. Padliya & Co. are eligible for reappointment.

(A) CONSERVATION OF ENERGY

(A) ENERGY CONSERVATION MEASURES TAKEN.

The Company has been taking specific care in using better quality of Raw material thereby reducing the energy consumption.

(B) ADDITIONAL INVESTMENT AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY.

The company does not have any proposals, to make additional investment in this regard.

(C) IMPACT OF MEASURES (A) AND (B) ABOVE FOR REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT IMPACT ON THE COST OF PRODUCTION OF GOODS.

The selection of better quality of Raw Material has helped marginally in keeping the cost of energy consumption per unit of production consistent.

(B) TECHNOLOGY ABSORPTION

Research and Development (R&D)

1. Specific areas in which R&D carried out by the Company. :

The Company has not carried out R&D activity during the year.

2. Benefits derived as a result of the above R&D : Not applicable

3. Future Plan of action. :

The Company does not have any future

4. Expenditure on R & D :

(a) Capital : Nil

(b) Recurring : Nil

(c) Total : Nil

(d) Total R & D Expenditure as a percentage of total turnover. : Nil

Technology Absorption, Adaptation and Innovation

1. Efforts, in brief, made towards technology absorption, adaption and innovation : Nil

2. Benefits derived as a result of the above efforts, e.g. product development import substitution etc. : Not applicable

3. In case of imported technology (Imported during the last 5 years reckoning from the financial year.) :

The Company has not imported any technology so far.

Following information may be furnished.

(a) Technology imported : Not applicable

(b) Year of import : Not applicable

(c) Has technology been fully absorbed : Not applicable

(d) If not fully absorbed areas where this has not taken place, reasons therefore and future plans of action : Not applicable

(C) FOREIGN EXCHANGE EARNING AND OUTGO

(a) Activities relating to exports initiatives taken to increase exports market for product services, and export plans. : Nil

(b) Total Foreign exchange used and earned. : Nil


Mar 31, 1999

DIRECTORS' REPORT

The Directors have the pleasure in presenting their Tenth Annual Report together with the Audited Accounts for the year ended 31st March, 1999.

FINANCIAL RESULTS :

For the year For the year ended 31.03.99 ended 31.03.99 (Rs. in Lacs) (Rs. in Lacs)

1. Sales & Other Income 23.78 71.49

2. Gross Profit before interest, Depreciation and Taxes (-) 20.95 (-) 26.32

3. Interest 0.31 5.77

4. Depreciation 36.63 33.50

5. Net Profit before taxes (-) 57.89 (-) 65.59

6. Net Profit after taxes (carried to Balance Sheet) (-) 57.89 (-) 65.59

As reported last the ferro chrome project had to be closed. The Ceramic tiles division also faced difficult market condition during the year. The company has taken up additional activity of manufacturing sanitary ware.

DIVIDEND :

In view of losses suffered by the Company, the Directors are unable to recommend dividend for the year.

FUTURE OUTLOOK :

In face of the continuing market recession the Company is striving to come cut of the crunch and the Directors are hopeful that the market conditions will improve soon.

DIRECTORS :

Shri S. L. Jain has resigned from and relinquished the post of Director & Managing Director of the company w. e. f. the afternoon of 30.06.1999. The Board places on record its sincere appreciation for the valuable service and able guidance provided by Shri Jain to the Company during the tenure of his Directorship.

Shri Vinod Kumar Jain has been appointed as the Managing Director of the Company w.e.f. 30.06.1999.

Shri Pankaj Jain has been appointed as Additional Director of the Company w.e.f. 30.06.1999.

Shri Sunil Parekh retires by rotation and is eligible for reappointment.

PUBLIC DEPOSITS :

The Company has neither invited nor accepted any deposits from public during the year.

PERSONNEL :

Relations between the management and employees nave remained cordial during the year. The Director place on record their appreciation for the contribution made by the employees at all levels of operations of the company during the year.

PARTICULARS OF EMPLOYEES :

Since no employee was in receipt of remuneration in aggregate of Rs. 3,00,000/- or above during the year while employed throughout the year or at the rate of not less than Rs. 25,000/- per month, if employed for part of the year, statement showing information Under Section 217 (2A) of the Companies Act, 1956 has not been furnished.

PARTICULARS U/S 217 (1) (e) OF THE COMPANIES ACT, 1956 :

The particulars to be disclosed as required U/s 217 (1) (a) of the Companies Act, 1956 reed with (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 are detailed in Annexure to this Report.

AUDITORS :

You are requested to appoint Auditors and fix their remuneration. The retiring Auditors M/s. C.H. Padiya & Co., are eligible for reappointment.

ANNEXURE TO DIRECTORS REPORT FOR THE YEAR 1998-99

PARTICULARS U/S 217(1) (E) OF THE COMPANIES ACT, 1956

(A) CONSERVATION OF ENERGY

(a) ENERGY CONSERVATION MEASURES TAKEN.

The Company has been taking specific care in using better quality of Raw material thereby reducing the energy consumption.

(b) ADDITIONAL INVESTMENT AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY.

The company does not have any proposals, to make additional investment in this regard.

(c) IMPACT OF MEASURES (a) AND (b) ABOVE FOR REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT IMPACT ON THE COST OF PRODUCTION OF GOODS.

The selection of better quality of Raw Material has helped marginally in reducing the cost of energy consumption per unit of production. The Company expects to further reduce energy consumption par unit of production in current year.

(B) TECHNOLOGY ABSORPTION

Research and Development (R&D)

1. Specific areas in which R&D The Company has not carried out carried cut by the company. R&D activity during the year.

2. Benefits derived as a result of the above R&D. Not applicable.

3. Future plan of action. The Company proposes to carry out R&D for Manufacturing of fertilisers from the slag. (Waste generated from production)

4. Expenditure on R&D

(a) Capital Nil Nil

(b) Recurring Nil Nil

(c) Total Nil Nil

(d) Total R&D Expenditure as a Nil Nil percentage of total turnover.

Technology Absorption, Adaptation and Innovation

1. Efforts, in brief, made Nil Nil towards technology absorption, adaptation and innovation

2. Benefits derived as a result Not applicable Not applicable of the above efforts, e.g. product development import substitution etc.

3. In case of imported The Company has not imported any technology (Imported during the technology so far. last 5 years reckoning from the financial year.)

Following information may be furnished.

(a) Technology imported Not applicable Not applicable

(b) Year of import Not applicable Not applicable

(c) Has technology been fully absorbed. Not applicable Not applicable

(d) If not fully absorbed areas where this has not taken place, Not applicable Not applicable reasons therefore and future plans of action

(C) FOREIGN EXCHANGE EARNING AND OUTGO

(a) Activities relating to Nil Nil exports initiatives taken to increase exports market for Product services, and export plans.

(b) Total Foreign exchange Nil Nil used end earned.


Mar 31, 1998

The Directors have the pleasure in presenting their Ninth Annual Report together with the Audited Accounts for the year ended 31st March, 1998.

FINANCIAL RESULTS :

For the year For the year ended 31.03.98 ended 31.03.97 (Rs. in Lacs) (Rs. in Lacs) Sales & Other Income 71.49 488.87 Gross Profit before interest, Depreciation and Taxes (-) 26.32 (-) 125.35 Interest 5.77 15.99 Depreciation 33.50 24.95 Net Profit before taxes (-) 65.59 (-) 166.29 Net Profit after taxes (carried to Balance Sheet) (-) 65.59 (-) 166.29

The Ferro Chrome Plant of the Company remained closed during the year owing to hike in power tariff rates and erratic power supply. The Company's new division of manufacturing Ceramic Tiles had commenced operations w.e.f. 01.07.97, which had also to remain idle for about a quarter due to recessionary market trends.

DIVIDEND :

In view of losses suffered by the Company, the Directors are unable to recommend dividend for the year.

DIVERSIFICATION :

As reported last, the Company had diversified its activity by setting up Ceramic Division for manufacture of Ceramic Tiles, which came into operation as planned w.e.f. 01.07.97. Owing to unremunerative yield price and recession the plant had to remain idle from the last quarter of the year under review.

FUTURE OUTLOOK :

In face of the continuing market recession the Company is striving to come out of the crunch and the Directors are hopeful that the market conditions will improve soon.

DIRECTORS :

Shri N. D. Parekh and Shri V. K. Jain retire by rotation and are eligible for reappointment. Shri Pankaj Jain resigned from the Board w.e.f. 18.11.97. The Board records its sincere appreciation for the valuable services rendered by Shri Pankaj Jain as a director of the Company since its incorporation.

PUBLIC DEPOSITS :

The Company has neither invited nor accepted any deposits from public during the year.

PERSONNEL :

Relations between the management and employees have remained cordial during the year. The Directors place on record their appreciation for the contribution made by the employees at all levels of operations of the company during the year.

PARTICULARS OF EMPLOYEES :

Since no employee was in receipt of remuneration in aggregate of Rs. 3,00,000/ or above during the year while employed throughout the year or at the rate of not less than Rs. 25,000/ per month, it employed for part of the year, statement showing information Under Section 217(2A) of the Companies Act, 1956 has not been furnished.

PARTICULARS U/S 217(1)(e) OF THE COMPANIES ACT, 1956 :

The particulars to be disclosed as required U/s 217(1)(e) of the Companies Act, 1956 read with (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 are detailed in Annexure to this Report.

AUDITORS :

You are requested to appoint Auditors and fix their remuneration. The retiring Auditors M/s. C. H. Padliya & Co., are eligible for reappointment.

ANNEXURE TO DIRECTORS REPORT FOR THE YEAR 1997-98 PARTICULARS U/s 217(1)(e) OF THE COMPANIES ACT, 1956

(A) CONSERVATION OF ENERGY

a. ENERGY CONSERVATION MEASURES TAKEN

The Company has been taking specific care in using better quality of Raw material thereby reducing the energy consumption.

b. ADDITIONAL INVESTMENT AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY

The company does not have any proposals, to make additional investment in this regard

c. IMPACT OF MEASURES (a) AND (b) ABOVE FOR REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT IMPACT ON THE COST OF PRODUCTION OF GOODS.

The selection of better quality of Raw Material has helped marginally in reducing the cost of energy consumption per unit of production. The Company expects to further reduce energy consumption per unit of production in current year.

B. TECHNOLOGY ABSORPTION

Research and Development (R&D)

Specific areas in which R&D The Company has not carried out carried out by the company. R&D activity during the year. Benefits derived as a result of the above R&D. Not applicable. Future plan of action. The Company proposes to carry out R&D for Manufacturing of fertilisers from the slag. (Waste generated from production)

Expenditure on R&D

a. Capital Nil Nil b. Recurring Nil Nil c. Total Nil Nil d. Total R&D Expenditure as a percentage of total turnover. Nil Nil Technology Absorption, Adaptation and Innovation 1. Efforts, in brief, made towards technology absorption, adaptation and innovation Nil Nil

2. Benefits derived as a result of Not applicable Not applicable the above efforts, e.g. product development import substitution etc,

3. In case of imported technology The Company has not imported any (Imported during the last 5 years technology so far. reckoning from the financial year.) Following information may be furnished, a. Technology imported Not applicable Not applicable b. Year of import Not applicable Not applicable c. Has technology been fully absorbed. Not applicable Not applicable d. If not fully absorbed areas where this has not taken Not applicable Not applicable place, reasons therefore and future plans of action

C. FOREIGN EXCHANGE EARNING AND OUTGO

a. Activities relating to exports initiatives taken to increase exports market for product services, and export plans. Nil Nil

b. Total Foreign exchange used and earned, Nil Nil


Mar 31, 1997

The Directors have the pleasure in presenting their Eighth Annual Report together with the Audited Accounts for the year ended 31st March, 1997.

FINANCIAL RESULTS For the year For the year ended 31.03.97 ended 31.03.96 (Rs.in Lacs) (Rs. in Lacs) 1 Sales & Other Income 48.87 1420.88 2. Gross Profit before interest, Depreciation and Taxes (-)101.00 196.27 3 Interest 15.99 25.73 4. Depreciation 24.95 16.89 5. Net Profit before taxes (-)141.94 153.65 6. Net Profit after taxes (carried to Balance Sheet) (-)141.94 110.65

The Company has suffered set back during the year. The plant remained closed for a period of about 3 months due to strike call by the Madhya Pradesh Ferro Chrome Manufacturers Association in protest against hike in power rates by the M. F. Electricity Board. The production was further affected due to irregular power supply and frequent power cuts imposed by the State Electricity Board.

DIVIDEND

In view of losses suffered by the Company, the Directors are unable to recommend dividend for the year.

DIVERSIFICATION

In view of the adverse conditions being faced by the Ferro Chrome Industry in the State the Directors had decided to diversify in other profitable activities. In this direction, the directors identified the activity of manufacturing of Ceramic Glazed Tiles and other Ceramic items and have set up a project for manufacturing Ceramic Glazed Tiles at the existing factory premises at Botalganj, near Mandsaur. This project has been completed within record time and is going to commence production w.e.f. 01.07.1997.

FUTURE OUTLOOK:

The directors are optimistic of getting desirable results from the new activity and are also looking for other profitable areas.

DIRECTORS:

Shri S. L. Jain and Shri Sunil Parekh retire by rotation and are eligible for reappointment.

PUBLIC DEPOSITS:

The Company has neither invited nor accepted any deposits from public during the year.

PERSONNEL:

Relations between the management and employees have remained cordial during the year. The Directors place on record their appreciation for the contribution made by the employees at all levels of operations of the company during the year.

PARTICULARS OF EMPLOYEES:

Since no employee was in receipt of remuneration in aggregate of Rs. 3,00,000/- or above during the year while employed throughout the year or at the rate of not less than Rs. 25,000/- per month, employed for part of the year, statement showing information Under Section 217 (2A) of the Companies Act, 1956 has not been furnished.

PARTICULARS U/S 217(1) (e) OF THE COMPANIES ACT, 1956:

The particulars to be disclosed as required U/s 217(1) (e) of the Companies Act, 1956 read with (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 are detailed in Annexure to this Report

AUDITORS:

You are requested to appoint Auditors and fix their remuneration. The retiring Auditors M/s C.H. Padilya & Co., are eligible for reappointment.

ANNEXURE TO DIRECTORS REPORT FOR THE YEAR 1996-97 PARTICULARS U/s 217(1) (e) OF THE COMPANIES ACT, 1956

CONSERVATION OF ENERGY

ENERGY CONSERVATION MEASURES TAKEN.

The Company has been taking specific care in using better quality of Raw material thereby reducing the energy consumption.

ADDITIONAL INVESTMENT AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY.

The company does not have any proposals, to make additional Investment in this regard

IMPACT OF MEASURES (a) AND (b) ABOVE FOR REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT IMPACT ON THE COST OF PRODUCTION OF GOODS

The selection of better quality of Raw Material has helped marginally in reducing the cost of energy consumption per unit of production. The Company expects to further reduce energy consumption per unit of production in current year.

TECHNOLOGY ABSORPTION

Research and Development (R&D)

1. Specific areas in which R&D The Company has not carried out carried out by the company R&D activity during the year.

2. Benefits derived as a result Not applicable of the above R&D.

3. Future plan of action The Company proposes to carry out R&D for Manufacturing of textilisers from the slag. (Waste generated from production)

4. Expenditure on R&D of Not applicable Not applicable total Turnover (a) Capital Nil Nil (b) Recurring Nil Nil (c) Total Nil Nil (d) Total R&D Expenditure as a Nil Nil percentage of total turnover

Technology Absorption, Adaptation and Innovation

1. Efforts, in brief, made towards technology absorption, adaptation and innovation Nil Nil

2. Benefits derived as a result Not applicable Not applicable of the above efforts, e.g. product development import substitution etc.

3. In case of imported technology The Company has not imported any (Imported during the last 5 technology so far, years reckoning from the financial year.)

Following information may be furnished.

(a) Technology imported Not applicable Not applicable (b) Year of import Not applicable Not applicable (c) Has technology been fully absorbed, Not applicable Not applicable (d) If not fully absorbed Not applicable Not applicable areas where this has not taken place, reasons therefore and future plans of action

(C) FOREIGN EXCHANGE EARNING AND OUTGO

(a) Activities relating to exports initiatives NIL NIL taken to increase exports market for product services, and export plans.

(b) Total Foreign exchange used and earned. NIL NIL


Mar 31, 1996

Your Directors have the pleasure in presenting their Seventh Annual Report together with the Audited Accounts for the year ended 31st March, 1996.

Your company had done extremely well during the first six months of the year in retrospect. The second half of the year, however, witnessed a grim situation caused by cheaper imports of H.C. ferro chrome, which has severely hit the indegenous manufacturers, which still persists. The production was also adversely affected due to powercut imposed by the M.P. Electricity Board. But for the above reasons your Company could have achieved still better results. Inspite of the un-remunerative prices over a part of the year and import from overseas your company has turned the corner during the year recording a Net Profit of Rs.110.65 lacs.

DIVIDEND:

In view of expansion plans taken up by the company, your Directors have decided to skip dividend for the year.

EXPANSION PLANS:

The Expansion plans taken up by your Company had been completed during the year which went into stream w.e.f. 1.11.1995. The entire expenditure on the creation of additional facilities enhancing the capacity to 11000 TPA has been financed with the company's own resources of Internal Accruals.

FUTURE OUTLOOK

Barring unforeseen circumstances, your Directors are optimistic about the future of the Industry.

DIRECTORS:

Shri N.D. Parekh and Shri Pankaj Jain retire by rotation and are eligible for reappointment.

PUBLIC DEPOSITS:

The Company has neither invited nor accepted any deposits from the public during the year.

PERSONNEL:

Relations between the management and employees have remained cordial during the year. Your Directors place on record their appreciation for the contribution made by the employees at all levels of operations of the company during the year.

PARTICULARS OF EMPLOYEES:

Since no employee was in receipt of remuneration in aggregate of Rs.3,00,000/- or above during the year while employed throughout the year or at the rate of not less than Rs.25000/- per month, if employed for part of the year, statement showing information Under Section 217(2A) of the Companies Act, 1956 has not been furnished.

PARTICULARS U/S 217 (1) (e) OF THE COMPANIES ACT, 1956.

The particulars to be disclosed as required U/S 217 (1) (e) of the Companies Act, 1956 read with (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 are detailed in Annexure to this Report.

AUDITORS:

You are requested to appoint Auditors and fix their remuneration. The retiring Auditors M/s. C.H. Padliya & Co. are eligible for reappointment.

(A) CONSERVATION OF ENERGY

(a) ENERGY CONSERVATION MEASURES TAKEN

The Company has been taking specific care in using better quality of Raw material thereby reducing the energy consumption.

(b) ADDITIONAL INVESTMENTS AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY.

The Company does not have any proposals, to make additional investment in this regard.

(c) IMPACT OF MEASURES (a) AND (b) ABOVE FOR REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT COMPACT ON THE COST OF PRODUCTION OF GOODS

The Selection of better quality of Raw Material has helped marginally in reducing the cost of energy consumption per unit of production. The company expects to further reduce energy consumption per unit of production in current year.

(d) TOTAL ENERGY CONSUMPTION AND ENERGY CONSUMPTION PER UNIT OF PRODUCTION POWER AND FUEL CONSUMPTION

(B) TECHNOLOGY ABSORPTION

Research and Development (R&D)

1. Specific areas in which R&D The Company has not Carried carried out by the company out R&D activity during the year.

2. Benefits derived as a result Not applicable of the above R&D

3. Future plan of action The Company proposes to carry out R&D for manufactu- ring of fertilisers from the slag. (Waste generated from production)

4. Expenditure on R&D of total Not applicable Not applicable turnover

(a) Capital Nil Nil

(b) Recurring Nil Nil

(c) Total Nil Nil

(d) Total R&D Expenditure Nil Nil as a percentage of total turnover

Technology Absorption, Adaptation and Innovation

1. Efforts, in brief, made towards technology absorption adaptation and innovation Nil Nil

2. Benefits derived as a result of the above efforts, e.g. product development import substitution etc. Not applicable Not applicable

3. In case of Imported techno- The Company has not imported logy (Imported during the any technology so far. last 5 years reckoning from the beginning of the financial year)

Following information may be furnished.

(a) Technology imported Not applicable Not applicable

(b) Year of Import Not applicable Not applicable

(c) Has technology been Not applicable Not applicable fully absorbed

(d) If not fully absorbed Not applicable Not Applicable areas where this has not taken place, rea- sons therefore and future plans of action

(C) FOREIGN EXCHANGE EARNING AND OUTGO

(a)Activities relating to Nil Nil exports initiatives taken to increase exports market for product services; and export plans.

(b) Total Foreign exchange Nil Nil used and earned


Mar 31, 1995

Your Directors have the pleasure in presenting their Sixth Annual Report together with the Audited Accounts for the year ended 31st March, 1995.

FINANCIAL RESULTS:

For the year For the year ended on ended on 31.03.1995 31.03.1994 (Rs. in Lacs) (Rs. in Lacs)

1. Sales & Other Income 1122.75 633.50 2. Gross Profits before Interest 46.23 36.00 Depreciation and Taxes. 3. Interest 14.78 15.36 4. Depreciation 10.88 11.04 5. Net Profit before taxes 20.57 9.60 6. Net Profit after Taxes 20.57 9.60

The Ferro Chrome Industry, had a lean period during a part of the year in retrospect. However, your Company has fared quite well during the year recording an increase of 77% in its turnover as compared to the previous year resulting in 114% increase in its net profit.

DIVIDEND:

In view of expansion plans taken up by the company, your Directors have decided to skip dividend for the year.

EXPANSION PLANS:

It gives pleasure to our Directors to inform that towards their commitment for expansion and diversification the existing capacity of the plant has been doubled from 5470 TPA to 11000 TPA by installing additional machinery at an economic cost of Rs. 1.20 Crores, which has been financed by the internal accruals of the Company. The implementation of the enhanced capacity is expected by August, 95.

Your Directors have also decided to invest in the Equity of M/s Pooja Ferro Alloys Pvt. Ltd. Goa, a profit making company enjoying various fiscal and situational advantages including Tax Holidays and power Supply at subsidised rates. Your Directors are hopeful of getting reasonable returns from the investment.

FUTURE OUTLOOK:

In the wake of the new Economic Policy of the Government of India, your Directors foresee a brighter future for the industry.

DIRECTORS:

Shri M.P. Mahipal, Shri Ratan Mahipal and Shri Pradeep Mahipal have, during the year, ceased to be Directors of the Company, while Shri Jitendra Kumar Parekh, Shri V.K Jain and Shri. S.K. Jain have resigned from the Board.

Shri Sunil Parekh and Shri Vinod Kumar Jain retire by rotation, and being eligible, offer themselves for reappointment.

PUBLIC DEPOSITS:

The Company has neither invited nor accepted any deposits from the public during the year.

PERSONNEL:

Relations between the management and employees have remained cordial during the year. Your Directors place on record their appreciation for the contribution made by the employees at all levels of operations of the company during the year

PARTICULARS OF EMPLOYEES:

Since no employees was in receipt of remuneration in aggregate of Rs. 3,00,000/- or above during the year while employed throughout the year or at the rate of not less than Rs. 25000/- per month, if employed for part of the year, statement showing information Under Section 217(2A) of the Companies Act, 1956 has not been furnished.

PARTICULARS U/S 217 (1) (e) The COMPANIES ACT, 1956

The particulars to be disclosed as required U/S 217(1)(e) of the Companies Act 1956 read with (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 are detailed in Annexure to this Report.

AUDITORS:

You are requested to appoint Auditors and fix their remuneration. The retiring Auditors M/s. C.H. Padliya & Co. are eligible for reappointment.

(A) CONSERVATION OF ENERGY

(a) ENERGY CONSERVATION MEASURES TAKEN

The Company has been taking specific care in using better quality of Raw Material thereby reducing the energy consumption.

(b) ADDITIONAL INVESTMENTS AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY.

The Company does not have any proposals, to make additional investment in this regard.

(C) IMPACT OF MEASURES (a) AND (b) ABOVE REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT COMPACT ON THE COST OF PRODUCTION OF GOODS.

The Selection of better quality of Raw Material has not helped considerably to the Company in reducing the cost of energy consumption per unit of production. However the company expects to reduce energy consumption per unit of production in current year.

(d) TOTAL ENERGY CONSUMPTION AND ENERGY CONSUMPTION PER UNIT OF PRODUCTION POWER AND FUEL CONSUMPTION.

K (B) TECHNOLOGY ABSORPTION

Research and Development (R&D)

1. Specific areas in which R&D The Company has not Carried out carried out by the company R&D activity during the year.

2. Benefits derived as a result Not applicable of the above R&D

3. Future plan of action The Company proposes to carry out R&D for manufacturing of fertilisers from the slag. (Waste generated from production) 4. Expenditure on R&D Not applicable Not applicable of total turnover (a) Capital NIL NIL (b) Recurring NIL NIL (c) Total NIL NIL (d) Total R&D Expenditure as a Percentage of total turnover NIL NIL

Technology Absorption, Adaptation and Innovation 1. Efforts, in brief, made towards technology absorption NIL NIL adaptation and innovation. 2. Benefits derived as a result of the above efforts, e.g. product development import substitution etc Not Applicable Not Applicable 3. In case of imported technology The Company has not imported any (Imported during the last technology so far. 5 years reckoning from the beginning of the financial year) following information may be furnished.

(a)Technology imported Not applicable Not applicable (b)Year of import Not applicable Not applicable (c)Has technology been fully absorbed Not applicable Not applicable (d)If not fully absorbed areas where this has not taken place, reasons therefore and future plans of action. Not applicable Not applicable

(C)FOREIGN EXCHANGE EARNING AND OUTGO (a) Activities relating to exports Initiatives taken to increase exports market for product services; and export plans. NIL NIL (b) Total foreign exchange used and earned NIL NIL


Mar 31, 1994

The Directors present their 5th Annual Report of the Company for the year ended 31st, March, 1994.

Financial Results:

The Company has during the year, recorded a 70% increase in its turnover over the previous year. The Progits are however lower due to overall increase in cost of inputs.

Future Outlook:

With the expectations of the Steel indusry. Turning the corner, your Directors are hopeful of achieving better results in the current year.

The Directors are also planning to take up expansin and diversification activities in better remunerative and profitable areas.

Public Deposits:

The Company has not accepted any deposits from the public during the year under review.

(A) Conservation of Energy:

(a) Energy Conservation measures taken:

The Company has been taking specific care in using better quality of Raw Material thereby reducing the energy consumption.

(b) Additional investments and proposals if any, being implemented for reduction of consumption of energy.

The Company does not have any proposals, to make additional investment in this regard.

(c) Impact of Measures (a) and (b) above for reduction f energy consumption and consequent impact on the cost of production of goods

The selection of better quality of Raw Material has helped the Company in reducing the cost of energy consumption per unit of production.

(B) Technology Absorption:

Research and Development (R&D)

1. Specific areas in which R & D carried out by the Company

The Company has not carried out an R & D activity during the year.

2. Future Plan of action:

The Company proposes to carry out R & D for manufacturing of fertilisers from the slag. (waste generated from production0

3. Expenditure on R&D of total turnover

(a) Capital Nil

(b) Recurring Nil

(c) Total Nil

(d) Total R & D Expenditure as a percentage of total turnover Nil

Technology Absorption, Adaptation and Innovation

1. Efforts in brief, made towards technology absorption adaptation and innovation: Nil

2. Benefits derived as a result of the above efforts. e.g product improvement, cost reduction, product development, import substitution etc.: Not applicable

3. In case of imported technology (imported during the last 5 years reckoning from the beginning of the financial year) following information may be furnished:

The Company has not imported any technology so far.

(C) Foreign Exchange Earnings and Outgo:

(a) Activities relating to Exports: Nil Initiatives taken to increase exports, development of new export market for product services; and export plans.

(b) Total foreign exchange used and earned: Nil


Mar 31, 1993

Fourth Annual Report

FUTURE OUTLOOK: The Company's working during the current year has improved registering a turnover of Rs. 164.21 Lacs during the first quarter of current year. The Company's product has been well received in the market. Your directors are confident of achieving excellent results, in the current year.

PUBLIC DEPOSITS: The Company has not accepted any deposits from the public during the year under review.

CONSERVATION OF ENERGY ENERGY CONSERVATION MEASURES TAKEN The Company has been taking specific care in using better quality of Raw material thereby reducing the energy consumption.

ADDITIONAL INVESTMENTS AND PROPOSALS, IF ANY, BEING IMPLEMENTED FOR REDUCTION OF CONSUMPTION OF ENERGY. The Company does not have, any proposals, to make additional investment in this regard.

IMPACT OF MEASURES (a) AND (b) ABOVE FOR REDUCTION OF ENERGY CONSUMPTION AND CONSEQUENT IMPACT ON THE COST OF PRODUCTION OF GOODS.

The selection of better quality of Raw Material has helped the Company in reducing the cost of energy consumption per unit of production.

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X