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ABL Bio-Technologies Ltd.

BSE: 526955 Sector: Health care
NSE: N.A. ISIN Code: INE707D01016
BSE LIVE 12:05 | 11 Jul Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.80
PREVIOUS CLOSE 0.78
VOLUME 37663
52-Week high 1.11
52-Week low 0.73
P/E
Mkt Cap.(Rs cr) 0.66
Buy Price 0.81
Buy Qty 2937.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.80
CLOSE 0.78
VOLUME 37663
52-Week high 1.11
52-Week low 0.73
P/E
Mkt Cap.(Rs cr) 0.66
Buy Price 0.81
Buy Qty 2937.00
Sell Price 0.00
Sell Qty 0.00

ABL Bio-Technologies Ltd. (ABLBIOTECH) - Chairman Speech

Company chairman speech

Chairman

Dear Shareholder,

The last year has been spent in trying to straighten out the numerous tangles faced bythe Company, consequent to its ceasing most of its operations.

The Company's laboratory at Bangalore is focusing on just a few projects, which werefunded by the Ministry of Science and Technology. It is hoped that some of thetechnologies will be revived and developmental issues completed so that these technologiescan be out-licensed or sold.

The Company sees the year ahead as the most critical to its survival. This is thereforethe time for all of us to rally around our Company and give it the support that is soessential to its revival.

K.O.Isaac

Chairman

Directors’ Report

Your Directors present the 20th Annual Report, together with the Audited Accounts forthe year ended on March 31, 2012.

Financials

During the year under review, the Company did not have any revenue generating business.All its efforts are now concentrated on its research activities, from which, it is hopedthat its revival will commence. The Company recorded a loss of Rs.17.92 lakhs on accountof Depreciation charges Rs. 6.77 lakhs, Misc. Expenses written off Rs. 499 lakhs and otheroverhead expenses of Rs. 537 lakhs.

Operations

Your Company has not conducted any business during last year but has focused itself atrestructuring its operations and objectives, so as to take advantage of its experience andIntellectual property and become a full fledged technology provider.

R&D Division

The research operations of the Company have been relocated successfully in leasedpremises at Bangalore. With the induction of qualified personnel and re-initiation of afew select programs, it is hoped that technology development efforts will lead the Companyto greater success. The R & D activities were transferred to its 100% subsidiary ABLResearch Pvt.Ltd, located in Bangalore.

The DHA Project

Your Directors are happy to inform that the Company's 22 litre pilot fermenter isoperating well in the new Research Facility under a new team and fine tuning of variousprocesses for the production of fatty acids is underway. Your Directors are also happy toinform that its efforts in pursuing Intellectual Property and filing patent applicationsin the USA, Europe and India have been successful. The Company hopes to attractpartnerships in establishing commercial scale facilities for a number of Fatty Acids, inthe days to come.

Formation of Special Purpose Vehicles

Your Company has chosen a strategy of incorporating three new wholly owned subsidiariesof ABL Biotechnologies Ltd, in order to facilitate focus on activity and inviteinvestments in the respective business segments. Accordingly three wholly ownedsubsidiaries were formed on 30th March 2011 as under:

ABL Research Pvt.Ltd, (R & D segment) a wholly owned subsidiary of ABL will nowfocus on select technologies and developmental objectives, with a view to marketrequirements and commercialisation objectives. As mentioned before it isfunctioning in full swing at Bangalore.

ABL Healthcare Pvt. Ltd (Formulation segment) a wholly owned subsidiary of ABL,will focus on formulation development and manufacture of various types of contractmanufacturing businesses. It will seek to successfully commercialise over 450 formulationsdeveloped and enhanced them, in the days to come. It has not been activated yet.

ABL Lipids Ltd, (Fatty acids DHA Segment) a wholly owned subsidiary of ABL, willnow focus on commercialisation and manufacture of a variety of Fatty Acids and derivativesfor the international nutrition and pharmaceutical industry. Initially, major efforts arebeing focused at either Technology sale or Joint Ventures in the area of Lipids.

Listing

The shares of the Company are listed in the Mumbai and Luxemburg stock exchanges. Theshares of the Company are traded in the demat form.

Corporate Governance

The Company continues to follow the code of Corporate Governance during the year underreview. A separate report on the same is attached.

Deposits

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

Directors

Mr. K. O. Isaac, Managing Director’s term expires and Company has received anotice in writing from a member under section 257 of the Act proposing his candidature forthe office of the Managing Director of the Company.

Auditors

M/s. Pratapkaran Paul & Co., Chartered Accountants, Chennai, Auditors of theCompany retire at the ensuing annual general meeting and are eligible for reappointment. Anotice has been received under section 224(1B) of the Companies Act, 1956 from themconfirming their eligibility for reappointment

Employees

Your Directors place on record their appreciation of the sincere and dedicated servicesrendered by all the employees during the year under review.

None of the employees have received remuneration in excess of the sum prescribed u/s217(2A) of the companies Act 1956.

Directors' Responsibility Statement

The Directors confirm that:

• in the preparation of the Annual Accounts, the applicable Accounting Standardshave been followed.

• they have selected such accounting policies and applied them consistently andmade judgments and estimates that are reasonable and prudent so as to give a true and fairview of the state of affairs of the Company as on 31st March, 2012 and of the Profit andLoss of the Company for that period.

• proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act, 1956 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities.

• the annual accounts are prepared on a going concern basis

Energy, Technology Absorption & Foreign Exchange

Information in accordance with the provisions of Section 217(1)(e) of the CompaniesAct, 1956 read with the Companies (Disclosure of Particulars in the Report of the Board ofDirectors) Rules, 1988 regarding conservation of energy, Technology absorption and ForeignExchange earnings and outgo are given below:

Conservation of Energy

Energy conservation is not applicable to the biotechnology industry.

Technology Absorption

The technology for microbial metabolites is developed indigenously and hence absorptionof foreign technology does not arise.

Foreign Exchange Earnings & Outgo

There were neither any earnings nor any expenditure in foreign exchange during theyear.

Acknowledgement

The Board of Directors wishes to place on record its gratitude to the Department ofScience and Technology, Department of Bio-Technology and the other Institutions /Organizations / Agencies who have supported the company during the year.

For and on behalf of the Board of Directors
Date : 03/09/2012 K. O. Isaac
Place: Chennai Chairman and Managing Director

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