Kaprinas Pharmaceuticals & Chemicals Ltd.
||Sector: Health care
||ISIN Code: N.A.
05:30 | 01 Jan
Kaprinas Pharmaceuticals & Chemicals Ltd
05:30 | 01 Jan
Kaprinas Pharmaceuticals & Chemicals Ltd
Kaprinas Pharmaceuticals & Chemicals Ltd. (KAPRINASPHARMA) - Director Report
Company director report
KAPRINAS PHARMACEUTICALS & CHEMICALS LIMITED
DIRECTOR'S REPORT TO THE MEMBERS
The Directors of your Company has pleasure to present the Tenth Annual
Report of your Company together with audited accounts for the year ended 31
st March, 1998.
During the year under review the turnover of the Company has Decreased from
Rs. 2786.16 Lacs to Rs. 734.34 Lacs due to the overall recession in the
market and with entery of foreign companies in the bulk drug market during
the year under consideration net worth of Co. has been completely eroded.
To make it viable Board of Directors have decided to approach Board for
Industrial and Financial Reconstruction, New Delhi for declaring the Co. as
Sick and give Financial package as formulated under Sick Industrial
Companies (Special Provision) Act, 1985.
PROJECTION VS PERFORMANCE
Rs. in Lacs
Projection for the Actual Decrease
Year 1997-98 1997-98 %
1. Sales & Other Income 2542.64 734.34 (-) 71.12
2. Net Profit/(Net Loss) 321.34 (-) 420.86 (-) 230.97
3. E.P.S. 7.97 --- ---
REVIEW OF OPERATIONS
During the year 1997-98 the Company has incurred heavy losses because of
unexpected factors beyond its control. The main reasons for losses is that
there is overall recession in the market and foreign companies have entered
the bulk drug manufacturing resulting in decline in exports and increase in
unhealthy internal competition.
CHANGE OF METHOD OF DEPRECIATION
During the year under consideration co has decided to change the method of
depreciation from St. Line to WDV method due to the reason that realistic
value of Fixed Assets can be shown.
During the period under review the company has not invited/accepted any
deposit from the public.
The Auditors M/s Khanna Anil Associates, Chartered Accountants retires at
the conclusion of ensuing Annual General Meeting. Being eligible offers
themselves for re-appointment.
The notes referred to by the auditors in their report are self explanatory
hence do not require any further explanation.
PARTICULARS OF EMPLOYEES
The information required under section 217 (2) (A) of the Companies Act,
1956 read with rules framed thereunder is NIL
Relation with employees throughout the year was cordial.
All the properties and insurable interests of the Co. including Building,
Plant & Machinery and Stocks wherever necessary and to the extent required
have been adequately insured.
PARTICULARS OF CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNING AND OUT GO:
Information in accordance with the provisions of section 217(1)(E) of the
Company Act, 1956 read with companies (disclosure of particulars in the
report of Board of Directors) Rules 1988 regarding conservation of energy
technology absorption and foreign exchange earning and outgo is given in
the annexure forming part of the Report.
The Board of Directors of the company wish to place on record their thanks
and appreciation to all workers, staff members and executives for their
contribution to the operations of the company. Our thanks are also due to
bankers, shareholders and other business constituents for their continued
ON THE BEHALF OF THE BOARD OF DIRECTORS
KAPRINAS PHARMACEUTICALS & CHEMICALS LTD.
DR. N.P.S. SANDHU
ANNEXURE - I
Conservation of energy, technology absorption and foreign exchange earning
and outgo, pursuant to section 217 (1) (E) of the Companies Act, 1956.
Forming par of Directors report for the year ended 31 st March, 1998.
A. CONSERVATION OF ENERGY
B. TECHNOLOGY ABSORPTION
FORM "B" (See Rule 2)
Disclosure of particulars with respect to Technology Absorption
(To the extent applicable)
A. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATIONS
The company belives in products quality technical efficiencies and
upgradation of manufacturing facilities with innovative process changes.
I) RESEARCH & DEVELOPMENT
The company has been carrying out R & D in the following specific
I) R & D Efforts of the company are constantly directed towards
development of new products, cost reduction, process optimization and
II) Company based on its strength of R & D has launched new products
which are intermediates for several active molecules during the last
year in the international market.
2) BENEFITS DERIVED
I) Cost Competitiveness, effectiveness and high quality.
II) Scientific working substantially improved machine utilisation.
process, systems and services.
3) FUTURE PLAN OF ACTION
I) High value added intermediates and active pharma molecules as well as
herebal products are being developed
II) Efficiency improvement to match international standards.
III) Development of intermediates for captive consumption which will also
be import substitutes.
4) Expenditure on R & D
Amount in Lacs
a) Capital Expenditure Nil 4.17
b) Recurring Expenditure 1.08 3.04
c) Total Expenditure 1.08 7.21
d) Total R & D Expenditure as
percentage of turnover 0.15 0.27
5) DETAIL OF IMPORTED TECHNOLOGY IN LAST FIVE YEARS
I) Technology Imported Nil
II) Year of Importing Nil
III) Has Technology been fully absorbed Nil
IV) If not fully absorbed areas where this has not taken place, reasons,
therefore and future plan of action.
Foreign Exchange earning and outgo
Foreign Exchange Earned 1.03 112.26
Foreign Exchange used Nil 7.26
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