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Lifeline Injects Ltd.

BSE: 523379 Sector: Health care
NSE: N.A. ISIN Code: N.A.
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Lifeline Injects Ltd. (LIFELINEINJECTS) - Director Report

Company director report

1996 LIFELINE INJECTS LIMITED DIRECTOR'S REPORT Your Directors have pleasure in presenting their 9th Annual Report together with the Audited Accounts for the year ended 31st March, 1996. WORKING RESULTS 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. OPERATIONS 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. DIVIDEND In view of loss your Directors feel prudent not to recommend any dividend for the year. MARKETING 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. DIRECTORS 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 appointment. 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 & OUTGO. 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 report. AUDITORS 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 1995-96 1994-95 1. Electricity a. Purchased 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 of resources. C. FOREIGN EXCHANGE a. Earnings : NIL b. Outgo : 955117.00 FOR AND ON BEHALF OF THE BOARD CHAIRMAN PLACE : NEW DELHI DATED : 29th JUNE, 1996.