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Enjayes Natural Flavours Ltd.

BSE: 531964 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Enjayes Natural Flavours Ltd
NSE 05:30 | 01 Jan Enjayes Natural Flavours Ltd

Enjayes Natural Flavours Ltd. (ENJAYESNATURAL) - Director Report

Company director report

ENJAYES NATURAL FLAVOURS LIMITED ANNUAL REPORT 2000-2001 DIRECTORS' REPORT To The Members, Your Directors have pleasure in Presenting the Annual Report together with the Audited Accounts of the Company forth year ended 31st March, 2001. FINANCIAL RESULTS During the year under review, Company suffered a loss of Rs.98.78 lakhs. The cumulative loss stands at Rs.172.66 lakhs. Your Directors are making all out efforts to review the Company. Negotiation with Banks and Financial Institutions are on. ACCOUNTING POLICIES The Company has complied with the Accounting Standards of the institute of Chartered Accountants of India, and the Accounts have been drawn in conformity with those Accounting Standards. PROJECTION VS PERFORMANCE (Rs. in Lakhs) Projection as per Actual Public Issue prospectus Performance dated 16.2.96 Total Income 1167.30 66.89 Profit Before Tax 145.38 -98.78 Profit After Tax 145.38 -98.78 EPS(RS.) 2.80 - Dividend (%) 15% - DIRECTORS Mr. E. M. Babu, E. M. Rajan and Abraham P. V. retire by rotation and being eligible offers themselves for reappointment. PUBLIC DEPOSIT During the year under review, Company has not accepted any deposit from public through advertisement. PARTICULARS REGARDING CONSERVATION OF ENERGY & FOREIGN EXCHANGE EARNINGS AND OUTFLOW Information as per the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1998 relating to conservation of energy, technology absorption and foreign exchange earnings and outgo are given in Annexure- 'A' forming part of this report. PERSONNEL Pursuant to Section 217 (2A) of the Companies Act, 1956 read with the Companies (particulars of Employees) Rules, 1975, there were no employees during the year under report whose remuneration is not less than Rupees six Lakhs per annum or Rupees Fifty Thousand per month. DIRECTORS RESPONSIBILITY STATEMENT Your Directors confirm that (i) the accounts have been prepared in conformity with the applicable accounting standards (ii) the Directors had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit of the company for that period; (iii) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; and (iv) the directors had prepared the annual accounts on a going concern basis. AUDITORS The Auditors M/s. Krishnamoorthy & Co., Chartered Accountants. Kollam, Kerala retire at the forthcoming Annual General meeting, and being eligible, offer themselves for reappointment. As to the comments of the Auditors that the company has entered into a contract which attracts section 301 of the Companies Act, 1956, for the sale of Companys product, your Directors would like to clarify that the product as sold at the prevailing market price in semi-processed form warranting further processing/refinement. Regarding interal Audit set-up, the business of the company is negligible during the year under review which does not necessitate to appoint an Internal Auditor. CORPORATE GOVERNANCE Since the paid up capital of the company is Rs.4.77 crores the corporate governance code of SEBI is not applicable on the company during the year under review. ACKNOWLEDGMENT Your directors wish to express their sincere appreciation for the support and Co-operation received from the Government of Tamil Nadu, Bankers to the company, Shareholders, Employees and other Stakeholders. For & on behalf of the Board Sd/- Pathanamthitta N.S. JOHN Date : 29.08.2001 Chairman & Managing Directors ANNEXURE `A' TO THE DIRECTORS' REPORT A. CONSERVATION OF ENERGY Company uses semi-continuous process which not only increases productivity but also conserves Electricity. Capacitors having 90 KVR are installed so as to maintain the power factor at 0.95. B. TECHNOLOGY ABSORPTION The company does not use any Foreign Technology for manufactures of Spice Oils and Oleoresins. However, Company has its own Research and Development programme to add the list of value added Spice Oils and Oleoresins. C. FOREIGN EXCHANGE EARNING AND OUTGO 2000-20001 1999-2000 1. Earning-Export Sales Nil 114.72 2. Outgo Nil 1.47 For and on behalf of the Board, Sd/- Pathanamthitta N.S.JOHN Date : 29.08.2001 Chairman & Managing Director