Your Directors are pleased to present their Twenty Seventh Annual Report together withthe Audited Financial Statements of your Company for the financial year ended March 312016.
|FINANCIAL HIGHLIGHTS || || |
| || || |
(Rs. in Lacs)
|Particulars ||Standalone ||Consolidated |
| ||Current Year ||Previous Year ||Current Year ||Previous Year |
| ||2015-16 ||2014-15 ||2015-16 ||2014-15 |
|Revenue from operations ||18770.61 ||19981.58 ||18770.61 ||19981.58 |
|Other Operating Income ||12.53 ||17.58 ||12.53 ||17.58 |
|Other Income from investment ||116.83 ||205.99 ||116.83 ||205.99 |
|Total Income ||18899.97 ||20205.15 ||18899.97 ||20205.15 |
|Profit for the year before Finance Costs Depreciation Extra ||3351.73 ||2951.44 ||3351.56 ||2951.44 |
|Ordinary Item/Exceptional Items Prior period adjustments and Tax Expenses || || || || |
|Less: Finance Costs ||334.63 ||325.33 ||334.63 ||325.33 |
|Profit for the year before Depreciation Extra Ordinary Item/ Exceptional Items Prior period adjustments and Tax Expenses ||3017.10 ||2626.11 ||3016.93 ||2626.11 |
|Less: Depreciation ||424.18 ||390.79 ||424.18 ||390.79 |
|Profit for the year before Extra Ordinary Item/Exceptional Items Prior period adjustments and Tax Expenses ||2592.92 ||2235.31 ||2592.75 ||2235.31 |
|Add/(Less): Extra Ordinary Item/ Exceptional Items ||Nil ||Nil ||Nil ||Nil |
|Profit for the year before Prior period adjustments and Tax Expenses ||2592.92 ||2235.31 ||2592.75 ||2235.31 |
|Add/(Less): Prior Period Adjustments ||Nil ||115.65 ||Nil ||115.65 |
|Profit for the year before Tax Expenses ||2592.92 ||2350.96 ||2592.75 ||2350.96 |
|Less: Current Tax ||768.00 ||647.30 ||768.00 ||647.30 |
|Less: Deferred Tax ||161.13 ||103.65 ||161.13 ||103.65 |
|Net Profit for the year ||1663.79 ||1600.01 ||1663.62 ||1600.01 |
|Add: Balance brought forward from last year ||3429.61 ||2286.72 ||3429.61 ||2286.72 |
|Surplus available for Appropriation ||5093.40 ||3886.73 ||5093.22 ||3886.73 |
|Appropriation || || || || |
|Transfer to General Reserve ||Nil ||150.00 ||Nil ||150.00 |
|Proposed Dividend of Rs. Nil per Equity Share (P. Y. Rs. 3.50 per Equity Share) ||Nil ||255.95 ||Nil ||255.95 |
|Interim Dividend of Rs. 3.50 per Equity Share (P. Y. Rs. Nil per Equity Share) ||255.95 ||Nil ||255.95 ||Nil |
|Tax on dividend ||52.11 ||51.18 ||52.11 ||51.18 |
|Balance carried over to Balance Sheet ||4785.34 ||3429.60 ||4785.16 ||3429.60 |
|Total ||5093.40 ||3886.73 ||5093.22 ||3886.73 |
After considering the profitability cash flow and overall financial performance of theCompany your Board of Directors of the Company have declared interim dividend of Rs. 3.50per equity share (35% on the face value of Rs. 10/- each) for the year ended March 312016 and the total outgo was Rs. 255.95 Lacs towards dividend and Rs. 52.11 Lacs towardsdividend distribution tax.
During the previous financial year the Company has paid final dividend of Rs 3.50 perequity share (35% on face value of Rs. 10 each) and the total outgo was Rs. 255.95 Lacstowards dividend and Rs. 51.18 Lacs towards dividend distribution tax.
TRANSFER TO RESERVES
Your Company has not transferred any amount to General Reserve (Previous Year theCompany has transferred Rs. 150 Lacs to General Reserve). Your company has retained amountof Rs. 4785 Lacs in the Statement of Profit and Loss.
STATE OF COMPANYS AFFAIRS
The highlights of the Companys performance are as under:
As the global economy particularly Europe is not stable and there were lot ofuncertainties in the global economy the commodity prices and capital markets was toovolatile and unpredictable which has affected the overall performance of the Company.Despite of this your company has been able to improve profitability.
Results of Operations
During the year under review the turnover of the Company was Rs. 18899 Lacs ascompared to Rs. 20205 Lacs of the previous year. However the Profit after Tax (PAT) hasincreased from Rs. 1600 Lacs to Rs. 1664 Lacs.
The export turnover has decreased from Rs. 17475 Lacs to Rs. 15346 Lacs compared toprevious year. The company is making continuous efforts to increase the export sales.
During the year under review the Company has incurred capital expenditure of Rs. 808.16Lacs.
CHANGE IN THE NATURE OF BUSINESS IF ANY
There was no change in the nature of business of the Company during the financial yearended 31st March 2016.
MATERIAL CHANGES AND COMMITMENT AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICHHAS OCCURRED BETWEEN THE END OF FINANCIAL YEAR TO WHICH THE FINANCIAL STATEMENTS RELATEAND THE DATE OF THE REPORT
There has been no material changes and commitment affecting the financial position ofthe Company which has occurred between the end of financial year to which the financialstatements relate and the date of the report.
AUTHORISED SHARE CAPITAL
During the year under review there is no change in the Authorized Share Capital of theCompany.
During the year under review the paid up capital of the Company has remained the same.
Issue of Shares with differential rights
During the year under review the Company has not issued equity shares withdifferential rights.
Issue of Sweat Equity Shares
During the year under review the Company has not issued Sweat Equity Shares.
Issue of Employee Stock Options
During the year under review the Company has not issued any shares under EmployeeStock Option.
FINANCE AND INSURANCE
During the year under review the Company has availed Rs. 6.73 Crores Corporate loanfrom the Corporate Loan of Rs. 9.50 Crores sanctioned by State Bank of India hence theCompany has been financed by State Bank of India for Working capital Term Loan andCorporate Loan.
All insurable interests of the Company including plant and machinery buildingstocks vehicles stores and spares have been adequately insured against various risks andperils.
The Company has not accepted deposit from public during the year and there was nodeposit outstanding on March 31 2016.
During the year under review the Company has acquired one subsidiary namely M/s. AksharPigments Pvt. Ltd. by acquiring 99.90% stake therein and also subscribed 5100 EquityShares of Rs. 10 each (51% stake) equity shares of M/s. Chhatral Environment ManagementSystem Private Limited however subsequently sold the entire stake in M/s. ChhatralEnvironment System Pvt. Ltd.. Hence at the end of the financial year the Company has onesubsidiary company namely M/s. Akshar Pigments Private Limited. The Board reviewed theaffairs of the Companys subsidiary during the year at regular intervals. Inaccordance with section 129(3) of the Companies Act 2013 the Company has preparedConsolidated Financial Statements of the Company and its subsidiary which form part ofthis Annual Report. The consolidated Financial Statement have been prepared on the basisof audited financial statements of the Company and its subsidiary Company as approved bytheir respective Board of Directors. Further a statement containing salient features ofthe Financial Statements of each subsidiary in Form AOC-1 forms part of the ConsolidatedFinancial Statements.
The Consolidated Financial Statements of your Company for the financial year 2015-16are prepared in compliance with applicable provisions of the Companies Act 2013 read withthe Rules issued thereunder applicable Accounting Standards and the provisions of SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 (hereinafter referredto as the "Listing Regulations"). The consolidated financial statements havebeen prepared on the basis of audited financial statements of your Company itssubsidiaries as approved by the respective Board of Directors.
Your Company has ISO 14001:2004 certification and ISO 9001-2008 for quality managementsystem for plant at Village Indrad.
AWARDS AND RECOGNITION
During the year under review Mrs. Paru M. Jaykrishna Chairperson and ManagingDirector of the Company was adjudged:
Best Woman Entrepreneur at SME Business Excellence Awards 2014 organized by Dun& Bradstreet in association with Federal Bank Limited and Times Group.
Runners up in the Best Woman Entrepreneur Exporter category atECGC-D&B Indian Exporters Excellence Awards 2015 organized by Dun &Bradstreet in association with Export Credit Guarantee Corporation of India Ltd (ECGC).
The CARE has upgraded rating of the Company from "CARE A-" (Single A Minus)to "CARE A" (Single A) assigned to the long term bank loans/ facilities. TheCARE has also upgraded rating assigned to the short term bank loans/facilities from"CARE A2+" (A Two Plus) to "CARE A1" (A One).
The Equity Shares of the Company continue to be listed on BSE Limited and AhmedabadStock Exchange Limited and required Listing Fees for the year 2015-16 has been paid.
The Securities and Exchange Board of India (SEBI) on September 2 2015 issued SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 with the aim toconsolidate and streamline the provisions of the Listing Agreement for different segmentsof capital markets to ensure better enforceability. The said regulations were effectiveDecember 1 2015. Accordingly all listed entities were required to enter into the ListingAgreement within the six months from the effective date. The Company entered into UniformListing Agreement with BSE Limited and Ahmedabad Stock Exchange Limited during December2015.
PARTICULARS OF CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGEEARNINGS AND OUTGO
The particulars as prescribed under Sub-section (3)(m) of Section 134 of the CompaniesAct 2013 read with the Companies (Accounts) Rules 2014 are enclosed as "AnnexureA" to the Board's report.
The Company has a Risk Management framework to identify evaluate business risks andopportunities. This framework seeks to create transparency minimize adverse impact on thebusiness objectives and enhance the Companys competitive advantage. The businessrisk framework defines the risk management approach across the enterprise at variouslevels including documentation and reporting. Further details are set out in theManagement Discussion and Analysis Report forming part of the Directors Report.
CORPORATE SOCIAL RESPONSIBILITY INITIATIVES
In accordance with the provisions of Section 135 of the Companies Act 2013 and therules framed there under the Company has a Corporate Social Responsibility Committee ofDirectors comprising Mrs. Paru M. Jaykrishna - Chairperson Mr. Gautam Jain and Mr. KiranJ. Mehta has inter alia also formulated a CSR Policy.
The role of the CSR Committee is to review the CSR policy indicate activities to beundertaken by the Company towards CSR activities and formulate a transparent monitoringmechanism to ensure implementation of projects and activities undertaken by the Companytowards CSR initiatives.
The Report on CSR Activities which forms part of the Directors Report isannexed as "Annexure B" to this report.
POLICY ON APPOINTMENT AND REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONEL
The salient aspects covered in the Nomination and Remuneration Policy has been outlinedin the Corporate Governance Report which forms part of this report. And the remunerationpaid to the Directors is in accordance with the Nomination and Remuneration Policy asmandated under Section 178 of the Companies Act 2013 and Regulation 19 of the ListingRegulations (including any statutory modification(s) or re-enactment(s) for the time beingin force).
The Chairperson and Managing Director Joint Managing Directors of your Company does notreceive remuneration from the subsidiary of your Company.
The details of programmes for familiarisation of Independent Directors with theCompany their roles rights responsibilities in the Company nature of the industry inwhich the Company operates business model of the Company and related matters are put upon the website of the Company at : www.aksharchemindia.com
DISCLOSURES ON MANAGERIAL REMUNERATION
Details of Managerial remuneration as required under Section 197 (12) of the CompaniesAct 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 is given as per "Annexure C" to this report.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
Mr. Gokul M. Jaykrishna has resigned from the post of the Joint Managing Director ofthe Company and appointed as Non-Executive Director w.e.f. October 9 2015.
Retirement by Rotation
In accordance with the provisions of the Companies Act 2013 and the Articles ofAssociation of the Company Mr. Munjal M. Jaykrishna (holding DIN: 00671693) JointManaging Director of the Company retire by rotation at the ensuing Annual General Meetingand being eligible have offered himself for re-appointment. The Board recommends hisreappointment.
Re-Appointment of Chairperson & Managing Director
Mrs. Paru M. Jaykrishna has been re-appointed as Chairperson & Managing Director ofthe Company for a further period of 5 years w.e.f. 01.04.2016 in the meeting of Board ofdirectors held on 14th March 2016 and the same has been approved by the shareholders ofthe Company in the Extraordinary General Meeting held on August 22 2016.
Key Managerial Personnel
The following persons are the Key Managerial Personnel:
Mrs. Paru M. Jaykrishna Chairperson and Managing Director
Mr. Munjal M. Jaykrishna Joint Managing Director & CFO
Mr. Meet J. Joshi Company Secretary
The Board of Directors of the Company includes a woman director viz. Mrs. Paru M.Jaykrishna. Accordingly the Company is in compliance with the requirement of section149(1) of the Companies Act 2013 read with Rule 3 of the Companies (Appointment andQualification of Directors) Rules 2014.
All the Independent directors have been appointed for the term of five consecutiveyears from the date of Annual General Meeting of the Company held on 24th September 2014till the date of 30th Annual General Meeting in the year 2019 hence no IndependentDirector of the Company are liable to retire during the year under review.
Declaration by Independent Directors
The Company has received necessary declaration from each independent director underSection 149(7) of the Companies Act 2013 that he/she meets the criteria of independencelaid down in Section 149(6) of the Companies Act 2013 and Clause 49 of the ListingAgreement.
Pursuant to the provisions of the Companies Act 2013 read with the Rules issuedthereunder and the Listing Regulations (including any statutory modification(s) orre-enactment(s) for the time being in force) the process for evaluation of the annualperformance of the Directors/ Board/ Committees was carried out.
PARTICULARS OF EMPLOYEES
The statement containing particulars of employees as required under Section 197(12) ofthe Act read with Rule 5(2) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 is provided as "Annexure D" to this report.
NUMBER OF MEETINGS OF THE BOARD
During the financial year 2015-2016 the Board of Directors of the Company met 6 (Six)times on May 21 2015 August 12 2015 October 9 2015 October 29 2015 January 252016 and March 14 2016.
INDEPENDENT DIRECTORS MEETING
A separate Meeting of the Independent Directors of the Company was also held on March14 2016 whereat the prescribed items enumerated under Schedule IV to the Companies Act2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015were discussed.
The composition of the Audit committee as per the applicable provisions of the Act andRules are as follows:
Mr. Kiran J. Mehta - Chairman
Dr. Pradeep Jha - Member
Mr. Param J. Shah - Member
A detailed note on the Board and its committees is provided under the CorporateGovernance Report section in this Annual Report.
VIGIL MECHANISM/ WHISTLE BLOWER POLICY
Your Company is committed to highest standards of ethical moral and legal businessconduct. Accordingly the Board of Directors have adopted the vigil mechanism/whistleblower policy which is in compliance with the provisions of Section 177(10) of theCompanies Act 2013 and Regulation 22 of the Listing Regulations. Employees can raiseconcerns regarding any discrimination harassment victimization any other unfairpractice being adopted against them or any instances of fraud by or against your Company.The Audit Committee oversees the vigil mechanism.
INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY
The Board has adopted policies and procedures to ensure the orderly and efficientconduct of its business including but not limited to the prevention and detection offrauds and errors the safeguarding of its assets the accuracy and completeness of theaccounting records adherence to the companys policies periodical review offinancial performance of Company and review of the accounts every quarter by StatutoryAuditors.
STATUTORY AUDITORS AND AUDITORS REPORT
During the year under review M/s. Trushit Chokshi & Associates CharteredAccountants Ahmedabad tendered their resignation from the position of Statutory Auditorsof the Company on account of change in their constitution/status from proprietorship firmto partnership firm. However there is no change in their registration number. Members atthe Extra Ordinary General Meeting held on August 22 2016 appointed M/s. Trushit Chokshi& Associates Chartered Accountants Ahmedabad (Firm Registration No.111072W) (in thecapacity of Partnership Firm) as Statutory Auditor of the Company from the conclusion ofthe Extra Ordinary General Meeting until the conclusion of the ensuing Annual GeneralMeeting of the Company.
On the recommendation of the Audit Committee M/s. Trushit Chokshi & AssociatesChartered Accountants Ahmedabad it is proposed to appoint them as Statutory auditors ofthe Company from the conclusion of the ensuing Annual General Meeting of the Company untilthe conclusion of the next Annual General Meeting of the Company.
The Company has received a letter to the effect that their reappointment if madewould be within the prescribed limit under Section 139 (1) of the Companies Act 2013 andthat they are not disqualified for re-appointment within the meaning of Section 141 of thesaid Act and rules framed thereunder.
As required under SEBI Listing Regulations the Auditors have also confirmed that theyhold a valid certificate issued by the Peer Review Board of the Institute of CharteredAccountants of India.
The notes on financial statement referred to in the Auditors Report areself-explanatory and do not call for any further comments. The Statutory Auditors have notreported any incident of fraud to the Audit Committee of the Company in the year underreview.
The Auditors Report does not contain any qualification reservation or adverseremark on the financial statements for the year ended March 31 2016. Your Board ofDirectors recommend their appointment as Independent Auditors for the financial year2016-17.
Mr. Bipin L. Makawana Practicing Company Secretary (Membership No. A15650) wasappointed to conduct the secretarial audit of the Company for the financial year 2015-16as required under Section 204 of the Companies Act 2013 and Rules there under.Secretarial Audit Report for F.Y. 2015-16 forms part of the Annual Report as"Annexure E" to the Board's report.
The Secretarial Auditor has not made any adverse comments or given any qualificationreservation or adverse remarks or disclaimer in their Audit Report.
During the year under review the provision regarding Cost Audit is not applicable tothe Company.
EXTRACT OF ANNUAL RETURN
The details forming part of the extract of the Annual Return in Form MGT-9 is appendedas "Annexure F" to this report.
PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS MADE
Particulars of loans guarantees or investments Loans guarantees and investmentscovered under Section 186 of the Companies Act 2013 form part of the notes to thefinancial statements provided in this Annual Report.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS ENTERED INTO WITH RELATED PARTIES
All Related Party transactions that were entered into during the financial year underreview were in ordinary course of business and were on arms length basis. There areno materially significant related party transactions made by the Company which may havepotential conflict of interest.
Further there were no material related party transactions which are not in ordinarycourse of business and are not on arms length basis and hence there are noinformation required to be provided under Section 134(3)(h) of the Companies Act 2013read with rule 8(2) of the Companies (Accounts) Rules 2014 in form AOC-2 and underSection 188(2) of the Companies Act 2013.
SIGNIFICANT OR MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALSIMPACTING THE GOING CONCERN STATUS OF THE COMPANY AND / OR THE COMPANYS OPERATIONSIN FUTURE.
There were no significant or material orders passed by the regulators or Courts orTribunals impacting the going concern status of the Company and / or the Companysoperations in future.
MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT
In terms of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 a Management Discussion and Analysis Report is appended as"Annexure G" to this Report.
Your Company is committed to maintain the highest standards of Corporate Governance. Aseparate Corporate Governance Report as stipulated under Chapter IV read with Schedule Vof SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 is furnishedas "Annexure H" to this Report together with certificate from M/s. TrushitChokshi & Associates Chartered Accountants Ahmedabad confirming compliance with theconditions of Corporate Governance.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(3)(c) of the Companies Act 2013 andbased on the information provided by the management your directors state that:
(a) in the preparation of the annual accounts for the year ended March 31 2016 theapplicable accounting standards read with requirements set out under Schedule III to theAct have been followed and there are no material departures from the same;
(b) the Directors have selected such accounting policies and applied them consistentlyand made judgements and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company as at March 31 2016 and of the profit ofthe Company for the year ended on that date;
(c) the Directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;
(d) the Directors have prepared the annual accounts on a going concernbasis;
(e) the Directors have laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and are operatingeffectively; and
(f) the Directors have devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems are adequate and operating effectively.
DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT
During the year under there were no frauds reported by Auditors under section 143 (12).
DISLOSURE AS PER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION ANDREDRESSAL) ACT 2013
In line with the Sexual Harassment of Women at workplace (Prevention Prohibition andRedressal) Act 2013 and Rules made there under the Company has adopted a policy for thesame. During the year no case was reported to the Committee constituted under the saidAct.
HUMAN RESOURCES AND INDUSTRIAL RELATIONS
The management believes in the philosophy of the development of the Company as well asits employees. The management assigns the works by considering this philosophy and alsogives them proper guidance and time for fulfillment of any of their responsibility. Hencethe employees also feel faithful and perform their duties with dedication. The Company isproviding various types of training to the employees of the Company and also sponsors thetraining and seminars to be attended by the employees for advancement and upgradation ofthe technology and work culture. The attrition rate of the Company is very low as compareto other companies in the concerned market. Industrial relations remained harmonious witha focus on productivity quality and safety throughout the year.
ENVIRONMENT SAFETY AND HEALTH
Your Company continues to exercise persistent and meticulous efforts towards greenerearth and environment conservation. The Company preserves in its efforts to teach safe andenvironmentally accountable behavior in every employee as well as its vendors. TheCompany is committed towards safety not only of its own men and plant but also of thesociety at large.
Solid waste generated at the Works after treatment of its liquid effluent is shiftedto a Gujarat Pollution Control Board (GPCB) approved site.
The Company continues to demonstrate its commitment to a clean and safe environment.The State of the art effluent treatment plant continues to run satisfactorily so that thetreated waste water discharged is well within the stipulated norms set by GPCB.
Your Company has ISO 14001:2004 and ISO 9001-2008 certification for its unit.
APPRECIATION AND ACKNOWLEDGEMENTS
Your Directors are grateful and pleased to place on record their thanks to Governmentof India Government of Gujarat Electricity supply companies and Bankers for theirexcellent support guidance and continued cooperation.
The Company is thankful to the shareholders for reposing trust in the Company and theirunflinching enthusiasm and patronage.
| ||For and on behalf of Board of Directors |
|Place : Indrad Mehsana || |
|Date : August 22 2016 || |
|Registered Office: ||Paru M. Jaykrishna |
|166-169 Village Indrad ||Chairperson and Managing Director |
|Kadi Kalol Road Dist : Mehsana ||DIN: 00671721 |
|Gujarat 382 715 (India) || |
|CIN: L24110GJ1989PLC012441 || |
ANNEXURE A TO DIRECTORS REPORT
Particulars of Energy Conservation Technology Absorption and Foreign Exchange Earningsand Outgo required under the Companies (Accounts) Rules 2014.
A. CONSERVATION OF ENERGY
i) the steps taken or impact on conservation of energy
The Company mainly focuses on the conservation of the energy and its utilization. Mainefforts taken by the Company for the same is upgradation and maintenance of machineries ofthe plant at necessary intervals and replacement of pumps with appropriate and efficientpumps and use of DG set as standby for continuous power supply.
The above measures can help out the company to operate the plant in an efficient mannerand with less operation cost so that the income of the company will get the positiveeffect.
ii) Steps taken by the Company for utilising alternate sources of energy -
The Company has not used any alternate source of energy except of the natural gasduring the year under review.
iii) The capital investment on energy conservation equipments
During the year under review the capital investment on energy conservation equipmentsis Rs. 5 Lacs.
B. TECHNOLOGY ABSORPTION
i) The efforts made towards technology absorption
For technology absorption company is providing the training to operators of the plantfor smooth running and cost effective maintenance of the plants and machineries.
ii) The benefits derived like product improvement cost reduction product developmentor import substitution
Reduction in energy consumption and improvement in product quality are some of thebenefits derived during the year under review.
iii) Information regarding imported technology (Imported during last three years)
|a. Technology imported ||: Nil |
|b. Year of Import ||: Not Applicable |
|c. Has technology been fully absorbed? ||: Nil |
|d. If not fully absorbed areas where absorption has not taken place and the reasons thereof ||: Not Applicable |
iv) Expenditure incurred on Research and Development
| || ||(Rs. in Lacs) |
|Sr. No. Particulars ||2015-16 ||2014-15 |
|1 Capital ||Nil ||Nil |
|2 Revenue ||11.05 ||10.80 |
|Total ||11.05 ||10.80 |
|Total Expenditure as a % of Turnover ||0.06% ||0.05% |
C. FOREIGN EXCHANGE EARNINGS AND OUTGO
i) Activities relating to export initiatives to increase exports Developments of Newexport markets for Products and Services and Export Plan.
The Company exports its product to South Korea Taiwan USA and other Countries. TheCompany has continued to maintain focus and avail of export opportunities based oneconomic situation. During the year the Company exported Vinyl Sulphone and CPC Greenvaluing to Rs. 15283.50 Lacs (Previous Year Rs. 17448 Lacs) to various countries aroundthe World. Continuous efforts are being taken to increase exports by exploring newmarkets.
ii) Total Foreign exchange Earned and Used
| || ||(Rs. in Lacs) |
|Particulars ||2015-16 ||2014-15 |
|Foreign Exchange earned in terms of Actual Inflows ||15283.50 ||17448.47 |
|Foreign Exchange outgo in terms of Actual Outflows ||215.04 ||31.21 |