HENDEZ ELECTRONICS LIMITED
Your Directors present to you the 10th Annual Report of the Company
together with the Audited Statements of Account for the year ended 31st
Due to paucity of working capital fund, the Company could not exploit the
potential for new products. Though products like Electronic Ballasts, Car
Stereos, Invertors etc. have been successful in the market, large scale
commercial production could not be carried out due to shortage of working
The Company made a loss of Rs. 46,72,532.04 for the year ended 31st March,
1994 after providing for interest, depreciation which, when added to the
existing deficit in the Profit and Loss Account of Rs. 2,24,88,463.89, has
resulted in the accunulated losses of the company aggregating to Rs.
Mr. M.K. Unni Nayar and Mr. K.S. Narayana Iyer who had joined the Board as
Additional Directors were appointed as Directors and Mr. P. Ravindran who
retired by rotation was reelected in the 9th Annual General Meeting of the
At the last Annual General Meeting, Mr. P. Unnikrishna Menon, Chartered
Accountant, Kalyana Soudham, College Road, Palghat, was appointed as
Statutory Auditors of the Company for the year 1993-94.
PARTICULARS OF EMPLOYEES :
There are no employees receiving remuneration that exceeds the limit laid
down under Section 217 (2A) of the Companies Act 1956 and therefore, no
information under the said Section read with Companies (Particulars of
Employees) Rules 1974 is provided.
Your Directors are grateful to the Company's Bankers, Canara bank and
Indian Bnk, as well as Kerala Financial Corporation (KFC) and Kerala State
Industrial Development Corporation Ltd. (KSIDC) for their support,
guidance, and help receivcd during the year. Your Directors also wish to
place on record their deep sense of appreciation for the dedicated service
rendered by the employees at all levels.
ANNEXURE TO DIRECTORS REPORT:
Information required under Section 217 (1) (e) of the Cmpanies Act 1956
read with the Compies (Disclosure of particulars in the Report of the Board
of Directors) Rules 1988.
A. CONSERVATION OF ENERGY:
Your Company's manufacturing operations are not energy intensive.
Nevertheless, the Company has made efforts to conserve energy by
elimination of waste and keeping all equipment in fit state of maintenance.
The company is also having Generator for own power generation. Since the
operations are not energy intensive, the impact of conservation of energy
will be minimum.
B. RESEARCH AND DEVELOPMENT:
1) The Research and Development efforts of the Company are directed towards
improvement in quality, development of new products and production process.
2) As a result of Company's efforts on Research and Development, a number
of products have been developed in the past such as Electronic Emergency
Lamps, Electronic Ballasts, Car Stereos, Table-top Wet Grinder etc.
3) The Research and Development efforts in future would be directed towards
developing new products, improvement in existing products and substitution
of imported items.
4) Expenditure on Research and Developments:
Capital -- NIL
Revenue -- Rs. 52,353.88
Total -- Rs. 52,353.88
C. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION:
Continuous efforts are made towards technology absorption in improving the
quality of the products and increasing productivity through cost effective
programs. This has enabled the Company to compete effectively in the
market. The technology is enhanced to meet the needs of the various
segments of the market and general improvement of the quality of the
product has been achieved.
D. FOREIGN EXCHANGE EARNINGS AND OUTGO:
During the Course of the year, the Company could not export any products
Total foreign exchanged earned - Rs. Nil
Total foreign exchange outgo - Rs. Nil
For and on behalf of the Board
M. K. UNNI NAYAR
Place : Palghatt