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KGN Agro Internationals Ltd.

BSE: 531947 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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KGN Agro Internationals Ltd. (KGNAGROINTL) - Director Report

Company director report

1995 MONTANA INTERNATIONAL LIMITED DIRECTORS' REPORT The Directors have pleasure in presenting their fifth Annual Report on the business and operations of your company and the audited Statement of Accounts for the year ended 31 st March 1995. OPERATIONS During the year under review, your company has earned a cash surplus of Rs.12 lacs. EXPORTS During the year, 99134 dozens of coffee mugs valued at Rs.147.90 were exported to major countries in Europe, USA, South Korea and Maldives. Your company has become one of the largest exporters of ceramic novelties in this country. The pionerring effort will witness the sales significantly improving during the current year. DOMESTIC SALES Your company could sell in the domestic market to the tune of Rs.33.39 lacs on the Advance DTA permission obtained from VEPZ, Vizag. RESEARCH AND DEVELOPMENT Considering the nature of the business, continuous development in moulds for Various samples is taking place. Your company is now able to meet the stringent specifications of its customers in the international markets. Efforts are continuously focussed on indigenisation and human skill development. DEPOSITS During the year under review, your company accepted fixed deposits. The company has no overdue deposit as at 31st March, 1995. EMPLOYEES The industrial relation during the year was harmonious. Your Directors wish to place on record the excellent co-operation extended by the employees in achieving the objectives. DIRECTORS During the year, Mr.J.R.Som Chaudhuri was co-opted as nominee director of State Bank of India. In accordance with the requirements of the Companies Act, 1956 and the Articles of Association, Dr.S.R.Ganesh, Director, retires by rotation at this Annual General Meeting and being eligible, offers himself for reappointment. AUDITORS M/s K.Vijayaraghavan & Associates, Chartered Accountants, Hyderabad, the Auditors of the Company retire at the conclusion of this Annual General Meeting and are eligible for reappointment. ENERGY TECHNOLOGY AND FOREIGN EXCHANGE The particulars relating to conservation of Energy, Technology absorption and Foreign Exchange earnings and outgo as required under Section 217 (1)(e) of the Companies Act 1956 is enclosed as part of the Report. ACKNOWLEDGEMENTS Your Directors place on record appreciation for the sincere efforts and active involvement of employees at various levels. The Directors also place on record the appreciation for the support received from Banks, Government agencies, Vendors and valued Customers. ANNEXURE TO THE DIRECTORS' REPORT A) CONSERVATION OF ENERGY: (a) Energy Conservation and Measures taken: The Company has been continuously making all efforts for conservation of energy and adequate steps in this regard are being taken. (b) Additional Investment and proposals if any being implemented for reduction of energy: Presently, no additional investment required. (c) Impact of measures of (a) & (b) above: As the company is in its first year of operation, the impact on the savings in energy cost cannot be quantified. Form - A Form of disclosure of particulars with respect to conservation of energy : A) Power and Fuel Consumption Sl. Item of Energy Unit 1994-95 No. 1. Electricity a) Purchased Units in 6,40,346 KWHr Total amount Rs. 13,41,683 Rate/Unit Rs./KWHr 2.10 b) Captive power consumption Units in 2,45,298 KWHr Units/Ltr KWHr/Ltr 3.00 Rate/Unit Rs./KWHr 2.68 Furnace Oil (HSD) Quantity KL 5,431 Total Amount Rs. 43,45,000 Rate/KL Rs. 800 B) CONSUMPTION PER DOZEN OF PRODUCTION. Sl. Item of Energy Unit 1994-95 No. 1. Electricity KWHr 4.50 2. Furnace Oil(HSD) Ltrs 2.76 FORM B RESEARCH & DEVELOPMENT 1. Specific areas in which R&D carried out by the Company: Standardisation in process and settingup of process parameters is being carried out. Also, improvement of designs of moulds for making end products. 2. Benefits derived as a result of the above R&D: The company would achieve better productivity and cost reduction due to standardisation of process. There will be a potential for increase in sales. 3. Future plan of action: The Company's R&D efforts will be towards upgradation of the present products and expanding the range of tableware to suit the needs of global customers. 4. Expenditure in R&D: The Company has incurred an expenditure of Rs. 1,69,48,333/- for product and market development. TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION: The technology of the foreign collaborator has been absorbed and fully adopted. With the R&D efforts in standardising the process parameters, further improvement in the quality is envisaged. FOREIGN EXCHANGE EARNINGS/OUTGOINGS : Earnings in Foreign Currency: Rs. 150.74 lacs (Previous year Rs. Nil) Expenditure in Foreign Currency: Rs. 65.26 lacs (Previous year Rs. 44.97 lacs) for and on behalf of the Board P. MADAN MOHAN Managing Director Place ; Hyderabad Dated : 28th June, 1995.