LARITE INDUSTRIES LIMITED
Your Directors have pleasure in placing before you their Report, Audited
Statement of Accounts for the year ended 30th June, 1995.
During the year under review, Sales have increased to Rs. 12,29,93,366 from
Rs. 6,82,53,527 in the previous year.
Profit before tax has increased to Rs. 64,33,966 from Rs. 43,90,628 in the
Profit after tax has increased to Rs. 63,67,533 from Rs. 43,55,275 in the
The Company has earned good profits hence your Directors recommend 20%
The prospects of the Company, are exceptionally good not only because of
the above important reasons, but also due to certain crucial factos, as
listed below :
1. The products that are planned to be marked are Innovative and High
2. The products that are to be manufactured do not fill under the purview
of Drug Price Control Order (DPCO).
3. The Company has planned to go in for exports which will give adequate
returns in the short term.
The provisions of Section 217 (2A) of the Companies Act, 1956, are not
applicable to the Company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
The Company has continued its efforts in conserving Energy for carrying out
the manufacturing activities by using fuel efficient and modern technology
The Company does not have any Foreign Exchange earnings nor any outgo.
Dr. J.J. Nerurkar retires by rotation and being eligible, offers himself
Dr. R Srinivasan has resigned from the Board of Directors due to his
preoccupation. The Board places on record its sincere appreciation for
advice and guidance given by him during his tenure as a Director.
The Auditors, M/s. Kamlesh Prajapati & Associates retire at this Annual
General Meeting and have given their consent for re-appointment.
Your Directors place on record appreciation towards the employees for their
hard work and co-operation. We thank Bankers, Union Bank of India (Oshiwara
Branch) for their continued assistance and guidance. We also thank our
Suppliers for their timely assistance.
For and on behalf of the Board of Directors
Tejash Shah Pratik Dhruv
Place : Bombay,
Dated : 11th August, 1995.