Motorol Speciality Oils Ltd.
||ISIN Code: INE642B01019
05:30 | 01 Jan
Motorol Speciality Oils Ltd
05:30 | 01 Jan
Motorol Speciality Oils Ltd
Motorol Speciality Oils Ltd. (MOTOROLSPECOIL) - Director Report
Company director report
ANNUAL REPORT 1999-2000
MOTOROL SPECIALITY OILS LIMITED
Your Directors have pleasure in presenting their Nineteenth Annual Report
together with the Audited Statement of Accounts for the year ended March
Despite of sluggish business environment and general slackness in industry,
your Company was able to achieve a turnover of Rs.1329.70 Lacs and a profit
after tax of Rs.167.28 Lacs for the year under review. Rigorous cost
control measures has enabled the Company to show improved profit level. The
Management of the Company has decided to mainly embark on manufacturing
activities to take advantage of increased demand in the Market.
The Management has decided to acquire rights of design, drawings,
technology etc. concerning to Petrochemical Project for the production of
various items like Formaldehyde, Paraformaldehyde, Hexamine &
The Board of Directors of the Company is also glad t inform that the
Company has made investment in the Flexpack (India) Ltd., the Company
engaged in flexible lamination and is in process of acquiring technical &
Marketing support. Use of Flexible laminates has spreaded upto an extent
that Paper and other mode has become obsolete as far as Packing is
The Management of the Company also feels that the Company should make
forays into export of various products, thereby exploring advantages of
Indian establishment as a Major trading hub of South East Asia. The Company
also plans to open offices and to create related infrastructure in Malaysia
and other South Asian Countries. This can be achieved through strategic
investments in other Companies and also from creating Trading Alliances.
Keeping pace with the thumping tune of the jargon called "IT" the
management of the Company has also decided to venture into the Software /
Hardware sector by creating wholly Owned subsidiary specifically to
evaluate and embark on the Information Technology sector.
The Management of the Company has also decided to utilise resources in the
tune of Rs. 15 - 20 crores to Modernise and also to expand the present
plant and production facility. The thrust is to build & convert the
existing facility to a State of the art modern unit with ISO standard
In view of volatility and changing Government policy, the Directors have
decided to conserve the resources by skipping the dividend for the year
Directors of the Company who retire by rotation and were eligible for re-
appointment, have already been re-appointed in the earlier Meeting which
was held on 19th July 2000.
PARTICULARS OF EMPLOYEES
During the year none of the employees was in receipt of remuneration of Rs.
50,000/- p.m. or aggregating Rs. 6,00,000/- or more per year.
CONSERVATION OF ENERGY
Your Company-accords considerable importance to conservation of energy and
to achieve this objective, continuous monitoring mechanism has been
installed in the plant to optimise saving of energy per unit of production.
FOREIGN EXCHANGE EARNINGS OUTGO
1.4.1999 to 1.4.1998 to
(Rs. in Lacs) (Rs. in Lacs)
1. Foreign exchange used 3.59 NIL
2. Foreign exchange earned 7.57 31.76
RESEARCH AND DEVELOPMENT
During 1999-2000, number of new products have been introduced with
emphasis' on fuel-economy and eco-friendliness. R & D also continued its
efforts to achieve cost control measures like alternate sourcing. This has
resulted in substantial savings, which enabled the Company to reduce its
M/S. Ambalal M. Shah & Co., Chartered Accountants, Baroda, the existing
Auditors of the Company retire and are eligible for reappointment. The
Members are requested to consider their reappointment.
Your Board of Directors express their gratitude to the shareholders,
customers and suppliers for the confidence reposed in the Company. Your
Directors also take this opportunity to thank the employees of the Company
for their contribution to improved performance of your Company.
For and on Behalf of the Board of Directors
Place: Baroda. S. K. GANDHI
Dated: 02/12/2000 Chairman
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