LIFELINE INJECTS LIMITED
Your Directors have pleasure in presenting their 9th Annual Report together
with the Audited Accounts for the year ended 31st March, 1996.
During the year company has made a sales of Rs. 34686767.00 and incurred a
loss of Rs. 18892367.00 after providing for interest & depreciation Rs.
1,13,71,082.00 It is a matter of deep regret that HSIDC, Chandigarh has
exercised their powers under Section 29 of SFC's act by taking over its
assets during Feb. 1996.
Performance of the company was adversely affected due to design defect of
Plastic components and high rate of rejection of needles. The company has
planned for additional capital expenses and also approached financial
institutions for additional financial assistance for modernization and
balancing to overcome such difficulties and to achieve desired level of
performance. But all affects have gone waste as Financial Institution has
not extended any support.
In view of loss your Directors feel prudent not to recommend any dividend
for the year.
The company could not take advantages of very promising and fast growing
market due to low capacity utilization. The order book position is very
much encouraging both for domestic and international market.
During the year Dr. R.M. Kastia has resigned as chairman and Sh. M.K.
Doogar has resigned as Director. The Directors expressed appreciation for
the valuable guidance and support extended by these two Directors,
throughout their tenure.
Mr. Rajesh Sharma as nominee of HSIDC on Board is replaced by Mr. T.P.
singh in his place. The Directors place on record their appreciation for
the valuable advices rendered by Sh. Rajesh Sharma during his term as a
Director of the company.
Shri S. Baranwal retires by rotation at ensuring Annual General Meeting and
being eligible, offers himself for reappointment. The Board recommends his
PARTICULARS OF EMPLOYEES
There is no employee drawing remuneration attracting the provisions of
section 217 (2A) of the companies Act, 1986.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNING &
The particulars with respect to conservation of energy, technology
absorption & foreign exchange earning & outgo pursuant to the "Companies
(Disclosure of particulars in the report of Board of Directors) Rules 1983,
are set out in the statement annexed hereto which is forming part of the
M/s. K. Singhvi & Associates, chartered Accountants retire as Auditors of
the company at the ensuing Annual General Meeting and being eligible, offer
themselves for reappointment.
A. Conservation of Energy
Disclosure of particulars with respect to Conservation of Energy.
Current Year Previous Year
Unit (KWH) 87,122.00 1,04,280.00
Total Amount (Rs.) 2,47,414.00 2,32,938.00
Rate/Unit (Rs.) 2.84 2.23
b. Own Generation
Through D.G. Set
- Units (KWH) N.A. 74421.00
- Unit Diesel Oil 1.85
- Cost/Unit (Rs.) 3.82
2. Coal NIL NIL
3. Furnace Oil NIL NIL
4. Other Internal consumption NIL NIL
B. Consumption/Unit of Production N.A. N.A.
B. TECHNOLOGY ABSORPTION
Technology, Absorption, Adoptation & Innovation :
Your company is continuing its efforts in innovating the technology of its
products in meeting consumer's requirements and increasing the productivity
C. FOREIGN EXCHANGE
a. Earnings : NIL
b. Outgo : 955117.00
FOR AND ON BEHALF OF THE BOARD
PLACE : NEW DELHI
DATED : 29th JUNE, 1996.