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Nagarjuna Drugs Ltd.

BSE: 530064 Sector: Health care
NSE: N.A. ISIN Code: INE254C01011
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Nagarjuna Drugs Ltd. (NAGDRUGS) - Director Report

Company director report

NAGARJUNA DRUGS LIMITED ANNUAL REPORT 1999-2000 DIRECTOR'S REPORT To The Members Your Directors present the 13th Annual Report together with the Audited Accounts and Cash Flow Statement for the financial year ended 31st March, 2000. FUTURE OUTLOOK The Company has received substantial orders for manufacture of. Homoveratronitrile (HVN), Homoveratrylamine (HVA) and also the other products. During the months from April 2000 to July 2000 has produced and supplied Rs. 52 Lacs worth of these products to Indian customers. The working capital availability for this Company is very important to improve the performance and hence the Company is presently in advanced stage of discussions with the term lenders and banks for one time settlement of dues. It has already received in principle consent from some of them. The plans are under way to raise additional capital to pay off term lenders and banks under one time settlement scheme. This will facilitate to improve the liquidity and for raising fresh working capital for the Company. With this, it is exepected that there will be a remarkable improvement in the Company's performance. DEPOSITS Your Company has not accepted any Fixed Deposits from the public during the year. DIRECTORS Dr. K. Raghunathan Director retire by rotation at the ensuing Annual General Meeting and being eligible offer himself for re-appointment. Mr. V.V. Raju was appointed as Additional Director of the Company with effect from 29-04-2000. He was also appointed as the Managing Director of the Company for a period of 5 years with effect from that date. Mr. V. Sreedhar resigned as Managing Director as well as Director of the Company with effect from 29-04-2000. Mr. G. K. Raju resigned as Director of the Company with effect from 03-03-2000. Your Directors place on record their appreciation of the services rendered by Mr. V. Sreedhar and Mr. G.K. Raju during their tenure as Directors of the Company. AUDITORS M/s. Kumar & Girl, Chartered Accountants, Hyderabad. the Auditors of the Company. retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. The qualifications made by the Auditors in their report on the accounts for the year ended 31st March 2000 have been dealt with in the Notes to Accounts. PARTICULARS OF EMPLOYEES There are no employees drawing remuneration more than the limits prescribed Under Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended. ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE Additional information to the extent applicable, on conservation of energy, technology absorption, foreign exchange earnings and outgo as required under the provisions of the Companies Act, 1956 and the Companies (Disclosure of particulars in the Report of Board of Directors) Rules. 19888 is annexed hereto and forms part of this Report. PERSONNEL: Your Company continues to enjoy cordial relations with employees at all levels. AKNOWLEDGEMENT Your Directors record their appreciation for the assistance extended he State and Central Governments. Financial Institutions. Your Directors express their gratitude to the shareholders for the confidence reposed in the Company. FOR AND ON BEHALF OF THE BOARD V.V. RAJU T. ESWAR PRASAD MANAGING DIRECTOR WHOLE TIME DIRECTOR Place : Bonthapally, Date : 27-07-2000. ANNEXURE TO DIRECTORS REPORT ENERGY TECHNOLOGY AND FOREIGN EXCHANGE Additional information to the extent applicable, on conservation of energy, technology absorption foreign exchange earnings and outgo as required to be disclosed in terms of Section 217 (1) (e) of the Companies Act, 1956 and the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is furnished as under: FORM A FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO ABSORPTION Research and Development (R&D): 1. Specific areas in which R & D carried out by the Company: The Company has successfully developed the technology for manufacture of various Bulk Drugs and intermediates for the expansion programme. Continuous efforts are being made for development of other products. 2. Benefits derived as a result of above R & D The Company is continuing its R & D efforts to make its products more cost effective and also to add on new product line as well. 3. Future plan of action: The Company is setting up a full fledged R & D division. 4. Expenditure on R & D: The expenses incurred by the Company so far are not significant. Technology Absorption, Adaptation and Innovation 1. Efforts, in brief, made towards technology, absorption, adaptation and innovation: The Company has recruited highly qualified and experienced technicians to develop the know-how in house. 2. Benefits derived as a result of the above efforts, eg., product improvement, cost reduction, product development, import substitution etc. The benefits derived of the above efforts are cost effectiveness, product improvement, product development, import substitution etc. As a result of the efforts made in this direction, the Company is in a position to penetrate into the global market. 3. In case of imported technology (imports during the last five years reckoned from the financial year) following, information may be furnished. a) Technology imported NOT APPLICABLE b) Year of import NOT APPLICABLE c) Has technology been fully absorbed? NOT APPLICABLE d) If not fully absorbed,areas where this has not taken place. reasons NOT APPLICABLE therefore and future plans of action FOR AND ON BEHALF OF THE BOARD V. V. RAJU T. ESWAR PRASAD MANAGING DIRECTOR WHOLE TIME DIRECTOR Place : Bonthapally, Date : 27-07-2000.