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Gujarat Chemi Plasto Ltd.

BSE: 524776 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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Gujarat Chemi Plasto Ltd. (GUJCHEMIPLAST) - Director Report

Company director report

1995 CHEMAGRO INTERNATIONAL LIMITED DIRECTORS REPORT Your Directors have pleasure in presenting the Eighth Annual Report of the Company together with the Audited Accounts for the year ended 31st March, 1995. Operations Your Company commenced its commercial production in July 1994 as envisaged by IDBI in its Projct appraisal. Till 31st March,1995 it produced 893 MT of Monocrotophos (Technical) and formulated 451 KL of Monocrotophos (36% SL). The turnover for the year under review was Rs.22.91 crores. The purity of the product manufactured by your Company was on par with the international standards and have been well accepted by the customers. The production has been stabilised and the average capacity utilisation during the last three months of the period under review was at 120%. Marketing The market for pesticides have been growing steadily. The products of your Company have been well accepted by the users. Your Company's formulated products are marketed through Nagarjuna Fertilisers & Chemicals Ltd. which has a wide network of Dealers. New Product Having stabilised manufacture and marketing of Monocrotophos at a profitable level, your Company is looking for additional products so as to reduce dependence on a single product. Acephate has been identified for introduction, as it can be manufactured in the existing facilities with certain additions to the plant and the project would have a low gestation period. It has been planned to introduce this product by the end of financial year 1995-96. Public issue Your Company entered the Capital Market during October 1994 and the Public Issue received overwhelming response from the investors. The Issue was oversubscribed 24.18 times and the shares were allotted on 6th December 1994. Environment protection Your Company attaches the utmost importance to the protection of the Environment. The factory is situated amidst a green belt which is being further developed to ensure better environment. Conversation of Energy, Technorogy Absorption and Foreign Exchange Your Company is not engaged in power intensive industry and the average power consumption has been well within the norms. The required technology was sourced indigenously from IICT Hyderabad and has been fully absorbed. The requisite information in terms of the Companies (disclosures of particulars in the report of Board of Directors) Rules 1988 are set out in a separate statement attached hereto and forming part of the report. Directors Shri S. Koteswara Rao was appointed as an additional Director by the Board at its Meeting held on 6th December,1994 and he holds office upto the date of the Annual General Meeting. A notice under Section 257 of the Companies Act, 1956 has been received from a Member proposing the appointment of Shri S. Koteswara Rao at the forthcoming Annual General Meeting. Shri P. R. Menon was appointed as an additional Director by the Board at its Meeting held on 23rd June, 1995 and he holds office upto the date of the Annual General Meeting. A notice under Section 257 of the Companies Act, 1956 has been received from a Member proposing the appointment of Shri P. R. Menon at the forthcoming Annual General Meeting. Shri Sukhendu Ray and Shri C. D. Menon retire by rotation at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. Auditors M/s M. Bhaskara Rao & Co. Chartered Accountants Hyderabad, the Company's Auditors retire at the conclusion of ensuing Annual General Meeting. They have signified their willingness to accept re-appointment and have further confirmed their eligibility under Senion 224(1-B) of the Companies Act, 1956. Personnel A statement giving information and particulars of the employees as required under Section 217(2A) of the Companies Act, 1956 is enclosed as part of this Report. Acknowledgement Your Directors wish to place on record their appreciation of the support, co-operation and assistance extended by the State Government, Industrial Development Bank of India, Bank of Baroda, Indian Overseas Bank and other Banks, Investors, Suppliers and employees of your Company and all others who are continuing to help and support the Company. ANNEXURES TO DIRECTORS' REPORT NOTES: 1. Remuneration includes salary, allowance, Company's contribution to Provident Fund and Superannuation Fund and taxable value of perquisites from 1st April, 1994 to 31st March, 1995. 2. The nature of employment is contractual and subject to rules and regulations of the Company in force from time to time. 3. The employee is not a relative of any Director of the Company. 4. No employee holds more than 2% of Share Capital of the Company. FORM - A Form for disclosure of Particulars with respect to Conservation of Energy A. Power and fuel consumption 1. ELECTRICITY (a) Purchased Unit 1,182,525 Total Amount Rs. 19,84,246 Rate/Unit Rs. 1.68 (b) Own Generation (I) Through Diesel Generator Unit 20,67,768 Unit per Itr of diesel oil Rs. 3.19 Cost / Unit Rs. 2.36 (ii) Through steam turbine/generator Unit Nil Unit per Itr of diesel oil Cost / Unit 2. COAL (specify quality & where used) C Rom - Used for Boiler Quantity 1272 MT Total Cost Rs. 15,55,348 Average Rate Rs. 1,223 3. Furnace Oil Quantity (K. Ltrs) Nil Total amount Average rate 4. Others/internal generation (please give details) Quantity NiI Total Cost Rate/Unit B) Consumption per Tonne of production Electricity 3,640 Units Furnace Oil Nil Coal - Quality :C Rom 1.48 Tonnes Others(specify) Nil FORM - B Form for disclosure of particulars with respect to absorption Research and Development (R & D) 1. Specific areas in which R & D Carried out by the company : Nil 2. Benefits derived as a result of the above R & D : Nil 3. Future plan of action : In house development of Acephate and other pesticides Technology absorption, adoption and innovation 1. Efforts, in brief, made towards technology absorption,adaptation and Innovation 2. Benefits derived as a result of the effort, e.g. product improvement cost reduction, product development, import substitution etc. : Increase in the level of purity of the product. 3. In case of imported technology (importecd during the last 5 years reckoned from the beginning of the financial year) following information may be furnished : Not Applicable (a) Technology imported (b) Year of Import (c) Has technology been fully absorbed (d) If not fully absorbed, areas where this has not taken place reasons therefor and future plans of action. On behalf of the Board T. D. SINHA Chairman Place : Hyderabad Date : 23rd June, 1995.