GOLD MULTIFAB LIMITED
Your Directors have pleasure in presenting the Third Annual Report together
with Audited Statement of Accounts of your Company for the year ended 31st.
Your Company has commenced production of curtains which have a very high
value addition in comparison to grey fabrics. It is in the process of
establishing a wide network for marketing of curtains, There is a very good
demand for curtains which is expected to grow continuously,
Projected Dividend for the year 1995-96 was 10%, However A larger working
capital will be required for manufacturing and marketing of curtains, Your
Directors feel that the cash accruals should be ploughed back in business
for higher growth and profitability, Therefore, no dividend is proposed for
During the year the Company offered 27,50,000 Equity Shares of Rs. 10/-
each for cash a par aggregating to Rs. 2,75,00,000/- to public which was
oversubscribed in public category. Allotment of Shares was made on 1 st
May, 1996. The equity Shares of the Company are now listed with Vadodara,
Bombay, Ahmedabad, Delhi and Calcutta Stock Exchanges.
Your Directors place on record their gratitude and appreciation for the
overwhelming response extend by the investors in the recent public issue.
In accordance with provisions of the Companies Act, 1956 and Articles of
Association of the Company Smt. Priti Bhatia retire by rotation at the
ensuing annual general meeting and being eligible offer herself for re-
Auditors of the Company M/s. J. Somani & Co., Chartered Accountants retire
at the conclusion of ensuing Annual General Meeting and being eligible
offer themselves for re-appointment. Your are requested to appoint Auditors
and fix their remuneration .
Industrial relations remained excellent during the year.
There was no employee drawing remuneration during the year in excess of the
limits prescribed u/s 217 (2A) of the Companies Act, 1956.
CONSERVATION OF ENERGY:
Information persuant to Section 217 (1) (e) of the Companies Act, 1956,
read with the Companies Disclouser of particulars in the Report of Board of
Directors) Rules, 1975 is enclosed, as Annexure I and forms part of this
Your Directors wish to place on record their appreciation of the support
and co-operation received from the Small Industries Development Bank of
India, Central Bank of India.
Your Directors also wish to place on record their appreciation received
from Suppliers, Customers, Brokers.
Your Directors also wish to record their appreciation of the dedicated
services of the employees of the Company.
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY
FOR THE YEAR l9996.
POWER FUEL CONSUMPTION
(a) Purchase -- --
(b) Own Generation
D. G. Set 1,68,794 86,200
Units per Ltr.
of Diesel 3.18 3.37
Cost per Unit (Rs.) 2.62 2.25
(ii) Through Steam
Turbine/Generator N.A. N.A.
02. Coal N.A. N.A.
03. Furnace oil/LSHS N.A. N.A.
04. HSD/LDO N.A. N.A.
Quantity (Ltr) 53,080 31,926
Total Amount (Rs.) 4,42,786 2,41,833
Average Rate/Ltr 8.34 7.57
B. CONSUMPTION PER UNIT OF PRODUCTION
(A) Electricity 2.97 3.19
(Unit per Meter of Production)
DISCLOSURE OF PARTICULARS WITH RESPECT
TO TECHNOLOGY ABSORPTION, RESEARCH AND
DEVELOPMENT (R & D)
A RESEARCH & DEVELOPMENT (R & D)
01. Specific areas in which Nil
R & D earned by the Company
02. Benefit derived as a result Not Applicable
of the above R & D
03. Future Plan of action To take up R & D activities to
meet international standards
04. Expenditure on R & D
b) Recurring Nil
d) Total R & D Not Applicable
as a percentage
of total turnover
B. TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION
01. Efforts in brief made towards This will be consider at
technology absorption, adoption later stage
02. Benefit derived as a result of Not Applicable
the above efforts e.g. product
improvement, cost reduction product
development, import substitution etc.
PARTICULARS OF IMPORTED TECHNOLOGY
01. Technology imported
02. Year of import
03. Has technology been Not Applicable
04. If not fully absorbed,areas
where this has not taken place,
reasons thereof and future plans
FOREIGN EXCHANGE EARNING AND OUTGO
01. Activities relating to exports, Not Applicable
initiatives taken to increase
development of new export markets
for products and services and export
02. Total foreign exchange Nil
used and earned
For and on Behalf of the
Place : Surat
Dated : The 16th July, 1996.