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Gordon Herbert (India) Ltd.

BSE: 522148 Sector: Others
NSE: GORDONHERB ISIN Code: INE755C01017
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Gordon Herbert (India) Ltd. (GORDONHERB) - Director Report

Company director report

GORDON HERBERT (INDIA) LIMITED DIRECTORS' REPORT To The Shareholders, Your Directors have pleasure in presenting the 15th Annual Report and the Audited Statement of Accounts of the Company for the year ended 31st December 1998, together with the Report of the Auditors thereon. FINANCIAL RESULTS During the year under review, the turnover of the company was Rs. 39396 lacs as against Rs. 22822 lacs during the previous year. T company has made a net profit of Rs. 3.71 lacs. The Company hopes to improve its operations with the expected improvement in t economy. DIRECTORS During the period under review Mr.D. N. Gupta and Mr. J. P. Gupta have resigned from the Board w.e. f. ,6.10.98 and 3-12-98 respectively. The Board while noting the resignation placed on record its appreciation of the contribution made by Mr. D. N. Gupta and Mr. J. P. Gup Mr. A. S. Rajput and Mr. M. F. Mehta, Directors retire by rotation at the forthcoming Annual General Meeting and being eligible of themselves for reappointment. PARTICULARS OF EMPLOYEES UNDER SECTION 217 (2A) OF THE COMPANIES ACT, 1956. None of the employees of the Company is covered Under Section 217 (2A) of the Companies Act, 1956 and the rules framed thereunder. PUBLIC DEPOSITS The company has not accepted any deposits from the Public in terms of the Companies (Acceptance of Deposits) Rules, 1975 during the Financial Year ended 31st December, 1998. CONSERVATION OF ENERGY Presently the main activity of the Company is Job fabrication using electrical energy. 1. Proper equipment utilization has reduced energy consumption considerably. 2. Proper planning has increase productively in terms of tones of fabrication per manday. 3. Wastage of materials has been reduced by proper designing of job works. FOREIGN EXCHANGE USED AND EARNED - NIL AUDITORS M/s. Bansal & Co., Chartered Accountants, the present Auditors of the Company will retire at the conclusion of the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received from them certificate to the effect th their re-appointment if made would be in accordance with section 224 (1B) of the Companies Act, 1956. DELISITING OF SECURITIES The Company has applied for delisting of securities with Mumbai and Delhi Stock Exchanges on 29th December, 1997 and 18th February 1998 respectively, as the shares of the company are quite infrequently traded and also company has accumulated losses. APPRECIATION Your Directors wish to place on record their deep appreciation of the continued support of shareholders and devoted services rendered by the executives and employees at all levels. For and on behalf of the Board of Directors PLACE : NEW DELHI J. R. Gupta A. S. Rajput DATE : APRIL 19,1999 DIRECTOR WHOLE-TIME. DIRECTOR