BHARANI OILS LIMITED
Your Directors are pleased to present the Annual Report and Audited
Accounts of the company for the financial year ended 31st March, 1995.
REVIEW OF OPERATIONS
Sales of your Company's Products during the year, stood at Rs.3069.62
lakhs, registered a growth of 51.56% over that of the previous year
(Rs.2024.08 lakh). During the year under review, market for Refined Oil
witnessed high degree of fluctuations. The Government of India has
permitted Import of Palm Oil under Open General License. This has caused
considerable strain on the domestic market of Edible Oils. Consequently
there is a sqeeze on the profit margins. In the difficult circumstances,
your company performed satisfactorily by its relentless thrust On
productivity and resource utilisation, sound financial management, quality
upgradation and abiding commitment to customer service and satisfaction.
The Company's Exports during 1994-95 stood at Rs.414.94 lakhs as against
Rs.220.02 lakhs during the previous year. The Company's Exports are
expected to improve further in the coming years.
The Company had harmonious industrial relations at all levels of the
organisation. It will be the endeavor of the Company to continue to
maintain the good industrial climate.
DISCLOSURES OF PARTICULARS
Particulars of conservation of energy, technology absorption and foreign
exchange earning and outgo as required under Section 217(1)(a) of the
Companies Act, 1956, and Rules framed thereunder are given in Annexure.
PARTICULARS OF EMPLOYEES
The Company has no employee of the category specified in Section 217(2A) of
the Companies Act, 1956 read with Company (Particulars of Employee) Rules,
Mr. K.V.R. Surayanarayana resigned as Director on 29th August, 1995 due to
personal reasons. The Directors wish to place on record their appreciation
of the services rendered to the Company during his tenure on the Board.
In his place Mr. K.V. Suryanarayana Raju has been appointed as Additional
Director till the conclusion of the ensuing Annual General Meeting. He
retires at this Annual General Meeting and is eligible for reappointment.
During the year, there arose, a casual vacancy in the post of Auditors, on
Account of unavailability and inaccessibility of the Auditors appointed in
the last Annual General Meeting. As the Company has to stick to various
rules and time schedules fixed in the Acts, in the matter of finalisation
of accounts and adoption of the same, the Directors by exercising the
powers vested in them by Section 224(6)(a) appointed M/s. S.V. Rao
Associates as Statutory Auditors of the Company for the year 1994-95.
Subsequently, the erstwhile Chartered Accountants M/s. Kantipudi & Co.,
have intimated the Company that on account of their busy schedule outside
their place, they could not get in touch with the Company inspite of their
communication and thus M/s. Kantipudi & Co., have sought to be relieved and
their request was duly accepted. M/s. S.V. Rao Associates, retire at this
Annual General Meeting and they are eligible for reappointment.
The Directors wish to place on record their appreciation of the whole
hearted support and sincere co-operation that the Company has received from
Banks, Financial Institutions and Government Departments. The Directors
also wish to thank all the employees for their support and co-operation.
ANNEXURES TO DIRECTORS' REPORT
Disclosure of particulars with respect to conservation of energy,
technology absorption, foreign exchange earnings and outgo as required
under the Companies Act, 1956 (Disclosure of Particulars in the Report of
Board Of Directors) Rules, 1988 and forming part of the Report of the Board
of Directors for the year ended 31st March, 1995.
FORM - A
DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY
Current Year Previous Year
1. POWER & FUEL CONSUMPTION:
Units (Kwh) 7,13,072 5,96,860
Total Amount (Rs.) 17,30,980 10,92,796
Rate per Unit (Rs.) 2.43 1.83
b) Own Generation (Through Diesel Generator):
Units (Kwh) 68,148 40,428
Units per Ltr. of Diesel Oil 3.20 Kwh 3.20 Kwh
Cost per unit (Rs.) 3.12 2.58
2. FURNACE OIL
3. FUEL (Used on Boiler)
Quantity 3,468 3,145
Total Cost (Rs.) 8,53,047 7,47,618
Average Rate 246 238
4. OTHERS/INTERNAL GENERATION -- --
FORM - B
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO ABSORPTION
1. RESEARCH AND DEVELOPMENT (R & D): NIL
II. TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION:
1. Efforts, in brief, made towards Technology absorption, adoption and
Adopted an Agro-waste fired Boiler which will reduce per unit cost of steam
when compared to the traditional coal fired Boilers. And also introduced an
indigenous cake processing unit in addition to the existing line of
2. Benefits derived as a result of the above efforts:
Product improvement, cost reduction, product development, import
substitution, versatility in usage of Raw Materials etc.
3. Imported Technology : No technology was Imported.
FORM - C
FOREIGN EXCHANGE EARNINGS AND OUTGO
1. During the period ending 31.3.1995, the Company has exported Rs.414.94
lakhs worth of De-oiled Rice Bran/Cakes.
2. The Company has not imported any Raw Materials, Machinery, Spares and
Technical Brochures which required Foreign Exchange outgo.
By Order of the Board
D.V. Thirupathi Raju
Chairman & Managing Director
Place : Hyderabad,
Dated : 29th August, 1995.