ADITYA POLYMERS LIMITED
ANNUAL REPORT 1999-2000
Your Directors have pleasure in submitting Fifteenth Annual Report and
Audited Accounts of your Company for the year ended on 31st March, 2000.
Your directors are pleased to report that during the year 1999-2000, the
operations of your company were further consolidated to show better results
than the previous year. Accordingly, there is an increase in turn over of
24.30% over previous year. However, due to increase in raw-material cost
and other manufacturing expenses and administrative expenses over previous
year, there is a net loss of Rs.40.84 lacs as against loss of Rs.20.23 lacs
after providing for depreciation and Taxation during the year.
The demand for the company's product has improved in the first quarter of
the current year and with improvement in over all economic conditions and
core sectors of the Industry, the management hopes better performance
during the current year.
In view of losses the Board does not recommend any dividend.
The Company has made a payment of Rs.42.25 Lacs towards working capital
term loan and availed short term loan of Rs.29.95 lacs from the bank
The Company has not accepted any deposits during the year which attracts
the provisions of Section 58(A) of the Companies Act, 1956.
There are no employees drawing salary exceeding the limits specified under
Section 217(2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975.
INFORMATIONS REGARDING CONSERVATION OF ENERGY ETC:
Information pursuant to Section 217(1)(e) of the Companies Act, 1956 read
with Companies (Disclosure of particulars in Director's report) rules, 1988
is given in Annexure forming part of this report. There are no foreign
exchange earning and outgo during the year.
Mr. Yoeshrai Goel and Mr. M.K. Chhawchharia retire by rotation and being
eligible, offer themselves for reappointment.
M/s. Pipara & Co., Chartered Accountants, Ahmedabad resigned during the
year and in their place M/s. Naimish K. Shah & Co., Chartered Accountants
was appointed by the members in the Extra Ordinary General Meeting. M/s.M/s
Naimish K.Shah & Co., Chartered Accountants retires at the Annual General
Meeting and being eligible, offers themselves for reappointment. You are
requested to appoint them and to fix their remuneration.
The comments in the Auditors' Report read with notes to the Accounts in
Schedule "P" are self explanatory and do not call for any further
LISTING OF THE COMPANY'S EQUITY SHARES
The Equity Shares of your Company continue to be listed during the year
under review at the Ahmedabad and Mumbai Stock Exchanges. The Company has
yet to pay the annual listing fees for the financial year 2000-2001 to
these Stock Exchange.
Your Directors wish to place on record their appreciation for whole hearted
Co-operation received from Financial Institutions, Bankers, Customers and
all the Employees of the company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Date: 05/08/2000 YOGESH RAI GOEL
Place: AHMEDABAD. Managing Director
ANNEXURE TO THE DIRECTORS' REPORT
A. Conservation of Energy:
Energy conservation measure taken by the Company mainly include selection &
installation of energy efficient equipments and energy saving devices. The
impact of measures on the cost of production is not precisely
B. Technology Absorption:
a) Research & Development: The Company has not so far formally established
Research & Development wing.
b) Technology absorption, adaptation & innovation. The Company has not
imported any technology.
FORM - A
Form for disclosure of particulars with respect to conservation of energy.
[B] Technology Absorption:
There are no specific areas wherein any R&D is being carried out.
[C] Foreign Exchange earnings and outgo:
There was no Foreign Exchange Earnings & Outgo during the year.