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Aditya Exports Ltd.

BSE: 523417 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Aditya Exports Ltd
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Aditya Exports Ltd. (ADITYAEXPORTS) - Director Report

Company director report

1996 ADITHYA EXPORTS LIMITED DIRECTORS' REPORT The Directors have great pleasure in presenting the 9th Annual Report of the company together with the Audited Accounts for the period ended 30th June, 1996. (15 months) PERFORMANCE There has been a drop in the performance when compared to the projections. There has been a pronounced down turn for bulk drugs in the would markets mainly due to Chinese competition. Further the Bulk Commodities Division suffered a set back due to the cancellation of a large order for rice as well as some sales rejections. This has caused a drop in the turn over. INFORMATION PURSUANT TO CLAUSE 43 OF THE LISTING AGREEMENT Rs. in lakhs Particulars Actuals Projected Income 98.90 7235.00 Total Expenditure 93.36 6505.00 Interest 0.79 25.00 Gross Profit after 2.72 704.00 Interest before depreciation & Tax 1.95 10.00 Depreciation Provision for Taxation -- -- Net Profit 0.80 694.00 Paid up Equity share 1038.00 1039.40 Capital Note : As the actuals figures are for a period upto 30-6-96 and projected upto 31/3/96. Hence are not comparable. FUTURE PROSPECTS Your Company is pleased to report a major break through achieved by the Bulk Commodities Division by securing a regular, revolving order for the export of rice. The L.C. for the first shipload is in hand, the execution is in progress and the shipment is expected to be completed by December, 1996. Further L.Cs will be opened on a revolving basis and will be progressively executed. REGISTERED OFFICE The Registered Office of the company has been shifted from 3-3-655/2/2 Somajiguda, Hyderabad 500 082 To 123, Srinagar Colony, Hyderabad - 500 073. ADDITIONAL INFORMATION AS REQUIRED U/S 217(1)(e) OF THE COMPANIES ACT, 1956. (a) Conservation of Energy : The company is a merchant exporter and hence this is not applicable. (b) Research and Development (R & D) Technology Absorption, adaptation and innovation. Your company being a merchant exporter, there is no technology involved. (c) Foreign exchange earnings and out go: (i) Foreign exchange earnings : Rs. 80.22 Lakhs on accounts of Exports (ii) Foreign Exchange out go : NIL PARTICULARS OF EMPLOYEES In pursuance of the provision of section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975, the Directors are to report that no employee was in receipt of remuneration of Rs. 3,00,000/- or more per annum or Rs. 25,000/- or more per month if employed for a part of the year. DIRECTORS Sri K. Pattabhirama Reddy retires by rotation and being eligible offer himself for re-appointment. AUDITORS P. Murali Mohana Rao, Chartered Accountants, retiring auditor of the Company being eligible, offers himself of re-appointment as auditor of the Company. He has furnished a certificate of his eligibility u/S 224(1b) of the Companies Act, 1956. The members are requested to reappoint the auditors and authorise the Board of Directors of the Company to fix the remuneration. PERSONNEL The relations between the management and the staff were very cordial throughout the year. Your Directors take this opportunity to record their appreciation for the Co-Operation and loyal services rendered by the employees. DEPOSITS The company has not accepted any deposits during the year. ACKNOWLEDGEMENTS Your Directors gratefully acknowledge with thanks the constructive guidance and co-operation extended by the Government of India, Government of Andhra Pradesh, Banks and other Government Agencies, its shareholders and customers. for and on behalf of the Board M. CHANDRAMOULI REDDY CHAIRMAN Place : Hyderabad Dated : 9th November, 1996.