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Dufa Indian Samay Ltd.

BSE: 523184 Sector: Others
NSE: N.A. ISIN Code: N.A.
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Dufa Indian Samay Ltd. (DUFAISAMAY) - Director Report

Company director report

1994 DUFA INDIAN SAMAY LIMITED DIRECTORS REPORT Your Directors present the Ninth Annual Report on the Accounts of the Company for the year ended 31st March, 1994. During the year under review, the company continued to face severe financial crises. The constraints were further aggravated on account of decrease in production because of non-availability of working Capital. The net result was that company kept on incurring cash losses. DIRECTORS During the period under review, Mr F.A. Farve resigned from the office of Directors as alternate Director. Your Directors wish to place on record their deep appreciation of service rendered by Mr F.A. Farve. Mr. H.B. Chugh retire in rotation at the forthcoming Annual General Meeting and being eligible offers himself for re-appointment, Your Directors recommended for his re-appointment. PARTICULARS OF ENERGY CONSERVATION ETC. Particulars with respect to conservation of energy as per Section 217 (2A) of the Companies Act, 1956 is annexed and forms part of this report. DEPOSITS The company has not invited nor accepted any deposits in pursuant to Section 58 (A) of the Companies Act, 1956. AUDITORS Statutory Auditors M/s. Rajeev Agarwal & Associates, Chartered Accountants, Jaipur retire on the conclusion of the ensuing Annual General Meeting and being eligible have offered themselves for re-appointment. The certificate in compliance of Section 224 (1B) of the Companies Act, 1956 has been received. Your Directors recommend for their re-appointment. INDUSTRIAL RELATIONS Industrial Relations remained cordial all throughout the year. ACKNOWELDGEMENT Your Directors acknowledge with deep sense of gratitude, the valuable co- operation and support provided by its Foreign Collaborators DUFA Uhrenfabriken Gmbh, Germany and Industrial Finance Corporation of India, Industrial Credit & Investment Corporation of India, Rajasthan State Industrial Development Corporation Ltd., State Bank of Bikaner & Jaipur, DEG-Deusche Investitions-und Entwicklungsgesellschaft Gmbh, Germany Government Institutions, Agencies and all other bodies associated with the company. The Board also takes on record the sincere efforts put in by all staff members at all levels. DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY ETC FORM A a) POWER AND FUEL CONSUMPTION 01.04.1993 01.04.1992 To To 31.03.1994 31.03.1993 1) Electrcity a) Purchased unit (KWH) 47300 172,268 Total Amount (Rs) 106797 340,917 Rate/Unit (Rs) 2.26 1.98 b) Own Generation i) Through diesel Generator - 320 KVA 15636 9,393 Unit per Litre of Diesel Oil (KWH) 2.71 2.72 Cost of Diesel per unit (Rs) -- -- ii) Through Steam turbine/Generator NIL NIL 2) Coal (Specify Quality and used) NIL NIL 3) Furnance Oil NIL NIL 4) Other/Internal generation NIL NIL (Please give details) b) CONSUMPTION PER UNIT OF PRODUCTS Product : Quarts Timing Stepper Quartz Timing Stepper Movements Motor Movements Motor Units : Lac. Pcs. Lac.pcs Lac. Pcs. Lac.pcs Electricity(KWH) 676000 465589 Furnance Oil -- -- -- -- Coal (Specify Quality) -- -- -- -- Others (Specify) -- -- -- -- B. 1) RESERACH & DEVELOPMENT 1. Specific area in which R & D carried out by Company. -- Development indeginously additional components and improved manufacturing/assembly process. 2. Benefits derived as a result of the above R & D -- The company has been able to reduce the input cost. II) TECHNOLOGY ABSORPTION,ADAPTION,INNOVATION 1. Efforts made towards : The production team has been constantly technology absorption upgrading technology obtained. They are adaption & innovation periodically coming out with new ideas to improve the process as well as modify the equipments. 2. Benefits derived : : Constant high quality, significant i) Product improvement & reduction in process rejection has & Wastage reduction been achieved. ii) Cost reduction : Constant review & measures taken to effect cost reduction. iii) Product development/ : Modification in production specification characterstics have been done to suit specific requirement of customers. iv) Import substitution : Indegenously development various components of imported equipments & machinery which are working statisfatorily III) DETAILS OF IMPORTED TECHNOLOGY i) Technology Imported : Designs,Drawing,testing and personnel Training for manufacture of Quartz Timing Movements. ii) Year of Import : 1987-1988 iii) Has Technology been fully : Yes, as per approved phased manufacturing Programme, the company has absorbed the technology. C) FOREIGN EXCHANGE EARNINGS & OUTGO The Company has not exported its product during the year under review, therefore, there is no Foreign exchange earnings during the year. There has been no foreign exchange outgo. For and on behalf of the Board H.B. Chugh Chairman Place : New Delhi Dated : 19th August 1994