MANGLAM INDUSTRIES LIMITED
The Directors are pleased to present FIFTH ANNUAL REPORT with audited
Statement of accounts for year ended 31st March, 1995.
Inspite of increased in turnover your company could not achieve
proportionate increase in profits due to lower margins and stiff
competition. The directors have therefore not recommended any dividend for
the year ended 31st March, 1995.
The turnover of the company for the year was Rs. 2728.84 lacs as compared
to 1229.35 lacs during the last year. The profit before tax has been Rs.
75.84 lacs. The balance in profit and loss account has been transferred to
The textile industry is in bad shape and the profits are marginal however
the directors of your company have been trying to tap export market for
better realisation of the products. The directors are hopeful for better
results during coming period.
Shri Dilip M. Shah and Shri Bipin M. Shah directors of company retire at
forthcoming Annual General Meeting and being eligible offer themselves for
reappointment. The Board request members to consider their reappointment.
Shri Indravadan Reshamwala, Wholetime Director of the Company has resigned
from directorship during the year. The Board of Director appreciate the
services rendered by him during his directorship in the company.
Company has not accepted fixed deposits from Public as per section 58A of
Companies Act, 1956.
PARTICULARS OF EMPLOYEES
No employees of company is in receipt of remuneration exceeding limits laid
down in section 217 (2A) of companies Act hence the details of statement
under said section is to be considered as nil.
The Auditors M/s. Ashvin Sanghvi, Chartered Accountants, 4-5, Vasudhara,
Parsi Sheri, Surat - 395 001, retire at conclusion of the ensuing Annual
General Meeting. They are eligible for reappointment.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNING AND
Information required as per section 217 (1)(E) read with companies
(Disclosure of particulars in the Report of Board of Directors) Rules 1988
is as under.
A. Power and fuel consumption
a. Purchase Units in lacs 14.500 8.028
Total Amount Rs. in lacs 32.59 17.10
Rate/Units Rs. 2.247 2.130
b. Own generation
Units in lacs 3.65 1.05
Units per litre of diesel Oil 3.00 3.00
Cost/Unit Rs. 2.76 2.73
B. Research and Development
Company do not have at present any activities related to research and
C. Foreign Exchange Earning & Out Go
Foreign Exchange Earning & Out Go is nil.
Yours Directors wish to thank and acknowledge the co-operation and
assistance received from its Bankers, Financial Institutions, Government
Authorities, Shares Holders and Employees of the company.
For and on behalf of the Board
PANKAJ M. SHAH
Place : Surat
Date : 23rd November, 1995.