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Hendez Electronics Ltd.

BSE: 517234 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
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Hendez Electronics Ltd. (HENDEZELECTRON) - Director Report

Company director report

1994 HENDEZ ELECTRONICS LIMITED DIRECTORS REPORT Your Directors present to you the 10th Annual Report of the Company together with the Audited Statements of Account for the year ended 31st March, 1994. OPERATIONS : 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 capital. 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. 2,71,60,995.93. DIRECTORS : 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 Company. AUDITORS : 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. ACKNOWLEDGEMENT : 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 and hence: Total foreign exchanged earned - Rs. Nil Total foreign exchange outgo - Rs. Nil For and on behalf of the Board M. K. UNNI NAYAR Chairman Place : Palghatt