Your Directors have pleasure in presenting 26th Annual Report together withAudited Statements of Accountants of the Company for the year ended March 312015.
During the year 2014-15 BIBCOL has turnover of Rs. 14622.07 lacs as against theprevious year turnover of Rs. 20275.35 lacs. The Profit Before Tax is Rs. 209.33 lacsfor the year as against off previous year Profit Before Tax of Rs. 1100.97 lacs. Theaccumulated losses has been reduced upto Rs. 186.54 lacs as against of previous yearfigure of Rs. 341.13 lacs.
Since there is still accumulated loss of Rs. 186.54 lacs it has not been recommendedany dividend for the current year. No dividend was declared on want of surplus income.
The company is working on different feasible scientific projects like Blood ProductsRubella Measles vaccine and licensing for Ready to use Therapheutic food for malnourishedchildren dispersible Iron -Folic Acid tablets for treatment of anemia and Mineral VitaminMix powder. Company is aiming for commercialization of these products in the near future.
Your company has not accepted/ invited any Deposits from public pursuant to Section 73of the Companies Act 2013 till the end of the year under review.
The Board of the Company has variation in its composition during the year as follows:-
Managing Director Sh. Sreeshan Raghavan has been superannuated in August 2015 and samehas been entrusted to Mrs. Veena Tamta Bhatia as Managing Director Ms. Anuradha Mitra andSh. K. Sreenivasulu have been ceased as Member of the Board due to vacation of theirparent post.
LISTING OF SECURITIES
The shares of the company are listed with below mentioned Stock Exchanges:
(a) The Bombay Stock Exchange Mumbai
(b) The Delhi Stock Exchange Limited New Delhi.
The company has paid annual listing fee to the above Stock Exchanges for the year2014-2015.
M/s. Hari & Associates Chartered Accountants have been appointed as StatutoryAuditors of the Company by Comptroller and Auditor General of India for the period underreview.
Comments on the observation of the Auditors / CAG are given as addendum toDirectors Report and are self-explanatory and/or suitably explained in various Noteson the Accounts.
CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND~UOTGCT
In accordance with the provisions of Sec. 134 (3)(m) of the Companies Act2013 and theCompanies (Accounts) Rule 2014 the required information relating to conservation ofenergy technology absorption and foreign exchange outgo is available at Annexure andforms an integral part of this report.
DIRECTORS RESPONSIBILITY STATEMENT:
On the basis of compliance certificates received from the Internal Auditors andExecutives of the Company subject to the disclosures in the Annual Accounts and also onthe basis of the discussion with the Statutory Auditors of the Company from time to timewe state as under:
(a) in the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departures;
(b) the directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year and ofthe profit and loss of the company for that period;
(c) the directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the company and for preventing and detecting fraud and other irregularities;
(d) the directors had prepared the annual accounts on a going concern basis; and
(e) the directors had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.
(/) the directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems were adequate and operating effectively.
The Companys Internal Auditor has conducted periodic audit to provide reasonableassurance that the Companys established policies and procedures have been followed.The Audit Committee constituted by the board reviews the internal control and financialreporting issues with the Internal Auditor.
Further the Board based on declaration by independent directors under sub-section (6)of section 149 state that there is no disqualification as mentioned in the provision ofthis section of the Companies act 2013 during the period.
Relations with the Employees remained cordial and harmonious throughout the yearthereby strengthening the commitment of the Employees at all level to the growth of theCompany.
Pursuant to Clause 49 of the Listing Agreement (a) Report of the Directors on thePractice prevalent on Corporate Governance in the company and (b) Practicing companysecretarys Certificate on Compliance of mandatory requirements of CorporateGovernance are given in the annexure to this report.
EXTRACT OF ANNUAL RETURN
Pursuant to section 92(3) of the Companies Act 2013 and rule 12(1) of the Companies(Management and Administration) Rules 2014 an extract of the Annual Report are given inthe annexure to this report.
The Directors acknowledge with gratitude the co-operation extended by various agenciesof the Central Government banks and all business Associates during the year under review.The board also takes this opportunity to express its deep gratitude for the continuoussupport received from the Shareholders and
Whole hearted cooperation given by the employees of the Company working at variouslevels.
|Place: Bulandshahr ||For and on behalf of Board of Director |
|Date: 31.08.2015 ||Managing Director |
ANNEXURE TO DIRECTORS REPORT
Information as required under section 134 (3) (m) read with the Companies (Disclosureof Particulars in respect of Board of Directors) Rules 1988.
(A) CONSERVATION OF ENERGY:
Form of Disclosure Power and Fuel Consumption
1. Electricity Particulars:
|Particulars ||2014-15 ||2013-14 |
|(a) Units Purchased ||3408690 ||2452890 |
|Total Amount (^ In Lacs) ||22089173 ||18516639 |
|Avg. Rate/Unit (in ?) ||6.48 ||7.5 |
|(b) Unit Generation-Own diesel generator ||65280 ||63600 |
|HSD Used (Unit & ? In lacs) 21875 Ltr. ||1337626 ||1179860 |
|Unit per liter of diesel ||2.98 ||2.96 |
|Oil/Cost/Unit (in ^) ||18.88 ||18.50 |
2. Light Diesel Oil (Used for stream Production):
|Particulars ||2014-15 ||2013-14 |
|Quantity (Ltrs.) (Used in Boilers) ||224000 ||114498 |
|Total Amount (? In Lacs) ||121.17 ||76.96 |
|Average Rate (Rs./Ltr.) ||54.09 ||67.22 |
3. Consumption (Per one Lac Doses of Oral Polio Vaccine)
|Source of Energy ||Standard(lf any) Indigenous Production || |
Current Year 2014-15
Previous Year 2013-14
| || ||OPV ||ZINC ||OPV ||ZINC |
|Electricity ||4655 Units ||3395001 ||13689 ||2415130 ||37760 |
|Light Diesel Oil ||520 Lt. ||129090 ||0 ||1920 ||0 |
|Others ||None ||0 ||0 ||0 ||0 |
|PARTICULARS ||CURRENTYEAR ||PREVIOUS YEAR |
|(A) Technology Absorption ||NIL ||NIL |
|(B) Foreign Exchange Earning/ Loss ||(129.10) ||273.03 |
|(C) Foreign Exchange Outgo (Rs. in lakhs) ||11370.65 ||11214.28 |