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NHC Foods Ltd.

BSE: 517554 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE141C01028
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VOLUME 9380
52-Week high 17.60
52-Week low 10.00
P/E 37.24
Mkt Cap.(Rs cr) 16
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Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 14.01
CLOSE 13.88
VOLUME 9380
52-Week high 17.60
52-Week low 10.00
P/E 37.24
Mkt Cap.(Rs cr) 16
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

NHC Foods Ltd. (NHCFOODS) - Director Report

Company director report

Dear Members

Your Board of Directors ('Board') is pleased to present the 25th Annual Report of yourCompany NHC Foods Limited for the year ended March 31 2017 ('the year under review''the year'or 'FY17'). In line with the requirements of the Companies Act 2013 ('the Act')and the Securities and Exchange Board of India (Listing Obligations and DisclosureRequirements) Regulations 2015 ('the SEBI Regulations') this report covers the financialresults and other developments during the financial year April 12016 to March 31 2017 inrespect of NHC Foods.

FINANCIAL HIGHLIGHTS:

(Rs In Lacs)
March 31 2017 March 31 2016
Total Revenues 13868.93 15339.71
Total Expenditure

13786.08

15291.95
Profit Before Tax 82.85 47.76
Current Tax 23.00 9.37
Less: MAT Receivable 7.22 4.99
Less: Tax Paid/adjustment of earlier years 1.26 0.47
Less: Deferred Tax 12.23 12.32
Profit After Tax 53.57 30.59

TRANSFER TO RESERVES:

Your Company does not propose to transfer any amount to its Reserves out of the profitsof the Company for the year ended March 31 2017.

DIVIDEND:

In order to conserve the resources for the future expansion plan of the Company underimplementation your directors do not recommend any dividend for the year under thereview.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Since there was no Dividend declared and paid last year the provisions of Section 125of the Companies Act 2013 does not apply.

STATEMENT OF COMPANY'S AFFAIRS / PERFORMANCE OVERVIEW:

The highlights of the Company's Performance are as under:

• Profit Before Tax increased from Rs. 47.76 Lacs to Rs. 82.85 Lacs

• Profit After Tax increased from Rs. 30.59 Lacs to Rs. 53.57 Lacs

• NHC Foods the domestic business achieved turnover of Rs. 728820085 and theexport achieved turnover of Rs. 652098411 in FY17.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Management Discussion and Analysis forms a part of this annual report and is annexed tothis report.

• Update on Macro Economy

• Overview of the Industry

• Our Business

• Future Prospect

• Risk Management and Governance

• Infrastructure

• Internal Control System and their adequacy:

• Financial Performance & Analysis

• Industrial Relations

• Human Resource Strategy

SUBSIDIARY COMPANIES:

The Company does not have any Subsidiary Company

TRANSACTIONS WITH RELATED PARTIES:

None of the transactions with related parties falls under the scope of Section 188(1)of the Act. Information on transactions with related parties pursuant to Section 134(3)(h)of the Act read with rule 8(2) of the Companies (Accounts) Rules 2014 are given inAnnexure 1 - Form AOC-2 and the same forms part of this report.

During the year under review your Board updated the policy on Related PartyTransactions as required under the SEBI Regulations. The policy is uploaded on theCompany's website and can be accessed using the linkhttp://www.nhcgroup.com/corporate-governance-2/

DEPOSIT:

During the financial year under review the Company did not accept any deposit coveredunder Chapter V of the Companies Act 2013.

LOANS GUARANTEES OR INVESTMENTS:

There were no Loans Guarantees and Investments covered under Section 186 of theCompanies Act 2013.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to Section 134(3)(c) of the Companies Act

2013 the Directors to the best of their knowledge hereby state and confirm that:

a) in the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departures;

b) the directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and ofthe profit of the Company for that period;

c) the directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

d) the directors had preparedtheannualaccountson a going concern basis;

e) the internal financial controls to be followed by the Company were laid down andsuch internal financial controls were adequate and were operating effectively; and

f) the directors had devised proper systems to ensure compliance with the provisions ofall applicable laws and that such systems were adequate and operating effectively

DETAILS OF DIRECTORS OR KMPS APPOINTMENT OR RESIGNATION DURING THE YEAR:

The Board of Directors presently consist of Four (4) Directors viz. Two PromoterDirectors (including woman director) and two Independent Directors (Non - Executive).This meets with the requirements of the Companies Act 2013 and rules framed thereunder.

1. Members approved the appointment of Mr. Apoorva Shah as Chairman & ManagingDirector (DIN: 00573184) for a period of three years w.e.f. 13th November 2015to 12th November 2018 through postal ballot held on Friday 29th January 2016.

2. Members approved the appointment of Mrs. Alpa Shah (DIN: 00573190) Whole - TimeDirector for a period of Three years w.e.f. 14th February 2016 to 13th February 2019through postal ballot held on Friday 29th January 2016.

DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received the necessary declaration from each Independent Director inaccordance with Section 149(7) of the Companies Act 2013 that they met the criteria ofindependence as laid out in sub - Section (6) of Section 149 of the Companies Act 2013and

Regulation 16(1 )(B) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015.

DIRECTOR RETIRING BY ROTATION:

In accordance with the provisions of the Companies Act 2013 and the Articles ofAssociation of the Company Mr. Apoorva Shah (DIN: 00573184) Managing Director of theCompany retires by rotation at ensuing Annual General Meeting and being eligible offershimself for reappointment. The Board recommends his reappointment as Director liable toretire by rotation at the ensuing Annual General Meeting.

KEY MANAGERIAL PERSONNEL:

During the year under review there is no change in the Key Managerial Personnel of theCompany. The Key Managerial Personnel of the Company as on date are:

1. Mr. Apoorva Shah Chairman & Managing Director
2. Mrs. Alpa Shah Whole - time Director
3. Mr. Ashok Kamath Chief Financial Officer
4. Ms. Suvarnalata Chavan Company Secretary &
Compliance Officer

MEETINGS:

A calendar of Board and Committee meetings to be held during the year was circulated inadvance to the Directors. 13 Board Meetings were convened and held during the year.

The Board has constituted an Audit Committee with Mr. Rajiv Bhatt Chairman and Mr.Heman Topiwala Mr. Apoorva Shah as Members. There have been no instances during the yearwhen the recommendations of the Audit Committee were not accepted by the Board.

The details of the meetings of the Board of Directors and its Committees held duringthe year under review are stated in the Corporate Governance Report.

The details of attendance of the Directors in the Board Meetings and its Committeesduring the year under review are stated in the Corporate Governance Report.

AUDIT COMMITTEE SHAREHOLDERS' RELATIONSHIP COMMITTEE NOMINATION & REMUNERATIONCOMMITTEE :

The composition of the Audit Committee of the Board of Directors along with thecomposition of other Committees is stated in the Corporate Governance Report.

NOMINATION AND REMUNERATION POLICY OF DIRECTORS KEY MANAGERIAL PERSONNEL AND OTHEREMPLOYEES:

In terms of the applicable provisions of the Act read with the Rules made thereunderand the SEBI Regulations your Board has formulated a Policy on appointment removal andremuneration of Directors Key Managerial Personnel and Senior Management Personnel andalso on Board Diversity Succession Planning and Evaluation of Directors. Salient featuresof the said Policy are stated in the Corporate Government Report.

BOARD EVALUATION:

As per the provisions of the Companies Act 2013and SEBI (Listing Obligation andDisclosure Requirements) Regulations 2015 the formal annual evaluation was carried outfor the Board's own performance its committee & Individual directors. The manner anddetails in which evaluation was carried out is stated in the Corporate Governance Reportwhich is annexed and form a part of this report.

The performance of the Board as well as that of the Committee was evaluated based onthe criteria such as frequency and duration of meetings adherence to the statutoryprovisions flow of information exchange of ideas constructive nature of discussionsetc.

The performance of the individual directors was evaluated based on criteria such asattendance and contribution at Board/Committee meetings understanding the issuesinvolved ability to bring in new ideas and initiatives commitment to fulfil theobligations and responsibilities of a directors etc.

PARTICULARS OF EMPLOYEES:

The information required under Section 197 of the Act read with rule 5(1) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are givenbelow:

a. The ratio of the remuneration of each director to the median remuneration of theemployees of the Company for the financial year:

Name of the directors Ratio to Median Remuneration
Executive Directors
Mr. Apoorva Shah 50.26
Mrs. Alpa Shah 50.26
Non - Executive Directors
Mr. Rajiv Bhatt NA
Mr. Hemant Topiwala NA

b. The percentage increase in remuneration of each director chief financial officerCompany secretary in the financial year:

Directors Chief Executive Officer Chief Financial Officer and Company Secretary % increase in remuneration in the financial year
Mr. Apoorva Shah 1.04%
Mrs. Alpa Shah 1.04%
Mr. Ashok Kamath^ -
Ms. Suvarnalata Chavan 10.05%

c. The percentage increase in the median remuneration of employees in the financialyear: NIL

d. The number of permanent employees on the rolls of Company: 72

e. Average percentile increase already made in the salaries of employees other than themanagerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof and point out if thereare any exceptional circumstances for increase in the managerial remuneration: Nil.

The statement containing particulars of employees as required under Section 197(12) ofthe Act read with Rule 5(2) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 is provided in a separate annexure forming part of this report.Further the report and the accounts are being sent to the members excluding the aforesaidannexure. In terms of Section 136 of the Act the said annexure is open for inspection atthe Registered Office of the Company. Any shareholder interested in obtaining a copy ofthe same may write to the Company Secretary.

AFFIRMATION

I affirm that Remuneration is as per the remuneration policy of the Company.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

Your Company's approach on Corporate Governance has been detailed out in the CorporateGovernance Report. Your Company has deployed the principles enunciated therein to ensureadequacy of internal financial controls with reference to the financial statements. YourBoard has also reviewed the internal processes systems and internal financial controlsand Directors' Responsibility Statement contains confirmation as regards adequacy of theinternal financial controls.

CODE OF CONDUCT:

The Company has laid down and adopted a Code of Conduct for its Directors and SeniorManagement Personnel which is also available on the Company's website:http://www.nhcgroup.com/ corporategovernance-2/. The Company has received confirmationfrom all Directors as well as Senior Management Personnel regarding compliance with theCode of Conduct during the year under review as required under Regulation 26(3) of theListing Regulations. Additionally all Independent Directors of the Company shall be boundby duties of Independent Directors as set out in the Companies Act 2013 read with theSchedule and Rules thereunder. Pursuant to Schedule V(D) of the Listing Regulations adeclaration signed by the Managing Director of the Company to this effect is attached atthe end of this report.

VIGIL MECHANISM POLICY:

The Board has approved the Whistle Blower Policy a mechanism for employees to reportto the management concerns about unethical behaviour actual or suspected fraud orviolation of the Company's code of conduct. The mechanism also provide for adequatesafeguards against victimization of employees who avail of the mechanism and also providefor direct access to the Chairman of the Audit Committee in exceptional cases.

During the year under review no personnel has been denied access to the auditcommittee. The Company has adopted a formal Vigil Mechanism/ Whistle-blower policy. Theapproved policy is available on the Company's website www.nhcgroup.com

DISCLOSURE UNDER SECTION 22 OF THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTIONPROHIBITION AND REDRESSAL) ACT 2013:

The Company's policy on prevention of sexual harassment of women provides for theprotection of women employees at the workplace and for prevention and redressal of suchcomplaints. There were no complaints pending for the redressal at the beginning of theyear and no complaints received during the financial year.

RISK MANAGEMENT:

For your Company Risk Management is an integral and important component of CorporateGovernance. Your Company believes that a robust Risk Management ensures adequate controlsand monitoring mechanisms for a smooth and efficient running of the business. A risk awareorganization is better equipped to maximize the shareholder value.

The key cornerstones of your Company's Risk Management Framework are:

1. Periodic assessment and prioritization of risks that affect the business of yourCompany;

2. Development and deployment of risk mitigation plans to reduce the vulnerability tothe prioritized risks;

3. Focus on both the results and efforts required to mitigate the risks;

4. Defined review and monitoring mechanism wherein the functional teams the topmanagement and the Board review the progress of the mitigation plans;

5. Embedding of the Risk Management processes in significant decisions such as largecapital expenditures mergers acquisitions and corporate restructuring

6. Wherever applicable and feasible defining the risk appetite and install adequateinternal controls to ensure that the limits are adhered to.

Significant and material orders by the regulators or courts or tribunals impacting theCompany's going concern status and operations in future:

During the period under review no significant and material orders passed by theregulators or courts or tribunals impacting the going concern status and Company'soperations in the future.

AUDITORS:

It is propose to appoint M/s GMJ & Co Chartered Accountants (FirmRegistrationNo.103429W)as auditors of the Company for a period of 5 years from theconclusion of 25th Annual General Meeting till the conclusion of the 30thAnnual General Meeting at the forthcoming Annual General Meeting in the place of existingStatutory Auditor M/s NGS & Co. LLP (Firm Registration No. 119850W) Mumbai.

SECRETARIAL AUDITORS:

Section 204 of the Companies Act 2013 read with rules made thereunder inter-aliarequires every listed Company to annex with its Board's report a Secretarial Audit Reportgiven by a Company Secretary in Practice in the Form MR-3.

The Board of Directors has appointed Mr. Dinesh Kumar Deora Practising CompanySecretary as Secretarial Auditor to conduct the Secretarial Audit of the Company for theFinancial Year 2016-17. The report did not contain any qualification reservation oradverse remark. The Board of Directors at its meeting held on 30th May 2017 approved theappointment of Mr. Dinesh Kumar Deora Practising Company Secretary as SecretarialAuditor to conduct a Secretarial Audit of the Company for the Financial Year 2017- 18. TheSecretarial Audit Report of the Company for the Financial Year 2016-17 is annexed to thisReport as Annexure 2.

INTERNAL AUDITORS:

M/s Surekha Associates Chartered Accountant Mumbai appointed as Internal Auditor ofthe Company conducted internal audit for the financial year 2016-17 as per the provisionof Section 138 of the Companies Act 2013 read with Rule 13 of the Companies (Accounts)Rules 2014. Their reports were reviewed by the Audit Committee and follow - up measurestaken wherever necessary.

AUDITORS OBSERVATIONS:

The observations made by Auditors with reference to notes to account are selfexplanatory and need no comments.

Board's response on the remarks made by Statutory Auditors and Secretarial Auditors:

There were no qualifications reservations and adverse remarks made by the statutoryauditors in their Audit Report and by the Company Secretary in practice in theirSecretarial Audit report.

EMPLOYEE RELATIONS:

At NHC Foods we consider our employees as the most valuable resource and ensurestrategic alignment of Human Resource practices to business priorities and objectives. Ourconstant endeavour is to invest in people and people processes to improve human capitalfor the organisation and service delivery to our customers. Attracting developing andretaining the right talent will continue to be a key strategic imperative and theorganisation continues its undivided attention towards that. We would like to take thisopportunity to express appreciation for the hard work and commitment of the employees ofthe Company and look forward to their continued contribution.

TRADE RELATIONS:

Your Directors wish to record appreciation of the continued unstinted support andco-operation from its retailers stockists supplier of goods/services clearing andforwarding agents and all other associated with it.

Your Company will continue to build and maintain a strong association with its businesspartners.

CORPORATE GOVERNANCE REPORT:

The Company is committed to observe good corporate governance practices. The report onCorporate Governance for the financial year ended March 31 2017 as per regulation 34(3)read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 forms a part of this Annual Report.

The requisite Certificate from the Statutory Auditors of the Company confirmingcompliance with the conditions of Corporate Governance is annexed to this Report.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The particulars as prescribed under Section 134 (3) (m) of the Companies Act 2013 readwith Rule 8(3) of the Companies (Accounts) Rules 2014 are annexed to this Report asAnnexure 3.

EXTRACT OF ANNUAL RETURN:

An extract of the Annual Return in Form MGT-9 in compliance with Section 92 of theCompanies Act 2013 read with applicable Rules made thereunder is annexed to this Reportas Annexure 4.

MATERIAL CHANGES AND COMMITMENTS:

There were no material changes and commitments that occurred subsequent to the end ofthe financial year till the date of this report which affects the financial position ofthe Company.

CHANGE IN NATURE OF BUSINESS:

There has no change in the nature of business of the Company. Your Company continues tobe one of the leading food processing Company.

BOARD DIVERSITY:

A diverse Board enables efficient functioning through differences in perspective andskill and also fosters differentiated thought processes at the back of varied industrialand management expertise gender knowledge. The Board recognises the importance of adiverse composition and has adopted a Board Diversity Policy which set out the approach todiversity.

APPOINTMENT OF INDEPENDENT DIRECTORS:

Pursuant to the provisions of Section 149 of the Companies Act 2013 and Regulation 17of the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 as amendedfrom time to time your Company has requisite number of Independent Directors on itsBoard. Thus the Company has complied with the requirements of the said provisions forappointment of Independent Directors during the year under review.

BOARD EFFECTIVENESS:

1. Familiarization Programme for the Independent Directors:

In compliance with the requirements of SEBI Regulations the Company has put in place afamiliarization programme for Independent rS Directorstofamiliarize them with their rolesrights and responsibility as Directors working of the Company nature of the industry inwhich the Company operates business model etc. The Company operates business model etc.The same is also available on the website of the Company and can be accessed by web linkhttp:// www.nhcgroup.com/wp-content/uploads/2015/01/ FAMILIARIZATION-PROGRAM-FORINDEPENDENT-DIRECTORS-OF-NHC- FOODSLIMITED.pdf

CORPORATE SOCIAL RESPONSIBILITY:

The provision of Section 135 of the Companies Act 2013 is not applicable to thecompany.

INSURANCE

All properties and insurable interests of the Company including building plant andmachinery and stocks have been fully insured.

DEMATERILISATION OF SHARES:

The Company has connectivity with NSDL & CDSL for dematerialization of its equityshares. The ISIN No. INE141C01028 has been allotted for the Company. Therefore investorsmay keep their shareholding in the electronic mode with their Depository Participates.97.91% of the Company's Paid-up Share Capital is in dematerialized form as on 31st March2017 and balance 2.09% is in physical form.

HEALTH SAFETY AND ENVIRONMENT PROTECTION:

The Company has complied with all the applicable environmental law and labour laws. TheCompany has been complying with the relevant laws and has been taking all necessarymeasures to protect the environment and maximize worker protection and safety.

POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION AND OTHER DETAILS:

The Company's policy on directors' appointment and remuneration and other mattersprovided in Section 178(3) of the Act has been disclosed in the corporate governancereport which forms part of this report.

LISTING OF SHARES: NHC FOOD

The shares of the Company are listed on BSE Ltd.

The Company has regularly paid the Annual Listing fees to the respective StockExchanges. Annual Custody / Issuer fee for the financial year 2017-18 has been paid by theCompany to National Securities Depositories Limited and Central Depository ServicesLimited.

SHARE CAPITAL

The paid - up Equity Share Capital as on 31st March 2017 was Rs. 118550000. Duringthe year under the review the Company has not issued any shares. The Company has notissued shares with differential voting rights. It has neither issued employee stockoptions nor sweat equity shares and does not have any scheme to fund its employees topurchase the shares of the Company.

ACKNOWLEDGEMENTS:

The Board places on record its appreciation for thecontinued co-operation and supportextended to the Company by customers vendors regulators banks financial institutionsrating agencies stock exchanges and depositories auditors legal advisors consultantsbusiness associates and all the employees with whose help cooperation and hard work theCompany is able to achieve the results.

The Board deeply acknowledges the trust and confidence placed by the consumers of theCompany and all its shareholders.

By the or der of the Board of Directors
For NHC FOODS LIMITED
(Chairman & Managing Director) Apoorva Shah
Place: Mumbai Din : 00573184
Date: 30th May 2017

Annexure 1

Form No. AOC-2

(Pursuant to Clause (h) of Sub-Section (3) of Section 134 of the Companies Act 2013and Rule 8(2) of the Companies (Accounts) Rules 2014)

Form for disclosure of particulars of contracts / arrangements entered into by theCompany with related parties referred to in sub-Section (1) of Section 188 of theCompanies Act 2013 including certain arm's length transactions under third provisothereto:

1. Details of contracts or arrangements or transactions not at arm's length basis:

NHC Foods Limited (the Company) has not entered into any contract /arrangement/transaction with its related parties which is not in ordinary course of business or atarm's length basis or at arm's length during FY 201617. The Company has laid down policiesand processes/procedures so as to ensure compliance to the subject Section in theCompanies Act 2013 ("Act") and the corresponding Rules. In addition theprocess goes through internal and external checking followed by quarterly reporting tothe Audit Committee.

(a) Name(s) of the related party and nature of relationship: Not Applicable

(b) Nature of contracts/arrangements/transactions: Not Applicable

(c) Duration of the contracts / arrangements/transactions: Not Applicable

(d) Salient terms of thecontractsorarrangements ortransactionsincludingthe value ifany: Not Applicable

(e) Justification for entering into such contracts or arrangements or transactions: NotApplicable

(f) Date(s) of approval by the Board: Not Applicable

(g) Amount paid as advances if any: Not Applicable

(h) Date on which the special resolution was passed in general meeting as requiredunder first proviso to Section 188: Not Applicable

2. Details of material contracts or arrangement or transactions at arm's length basis:

a. Name(s) of the related party and nature of relationship: Not Applicable

b. Nature of contracts / arrangements / transactions: Not Applicable

c. Duration of the contracts / arrangements / transactions: Not Applicable

d. Salient terms of the contracts or arrangements or transactions including the valueif any: Not Applicable

e. Date(s) of approval by the Board if any: Not Applicable

f. Amount paid as advances if any: None

By the order of the Board of Directors
For NHC FOODS LIMITED
Apoorva Shah
(Chairman & Managing Director)
Place: Mumbai Din : 00573184
Date: 30th May 2017

ANNEXURE 3

The conservation of energy technological absorption foreign exchange earnings andoutgo in the manner as prescribed in rule 8(3) of the Companies (Accounts) Rules 2014[CHAPTER IX]

Disclosure of Particulars with Respect to Conservation of Energy:

A. Conservation of Energy:

1. Energy conservation measures taken during the year 2016-17 The Company continues to take possible
2. Additional investments and any new Steps to conserve energy.
Proposals under implementation aimed at energy conservation These includes efficient electric fittings and equipments that consumes less energy than conventional ones
3. Impact of the measures taken

Form for disclosure of particulars with respect to Conservation of Energy

2016-17 2015-16
(A) Power & Fuel Consumption
1. Electricity
(a) Purchased Units (kwh) 71979 133791
Total Amount (Rs.) 810524 1219036
Rate/Unit (Rs./kwh) 11.26 9.11
(b) Own Generation
(i) Through Diesel Generator
(ii) Through Steam Turbine / Generators
Units 50 60
Units/Ltr. of Diesel 150 232
Cost/Unit 180 216
Coal IN^JC TTMTTF
Quantity
Total Cost
Average Rate
3. Furnace Oil N.A. N.A.
Quantity
Total Cost
4. Other /Internal Generations N.A. N.A.
Quantity
Total Cost
Average Cost

 

(B) Consumption per unit of production
Products (with details)unit Since the Company manufacturers several items it is impracticable to apportion the utilities
Electricity
Furnace Oil
Coal

1. Research and Development:

The Company has not undertaken any Research and Development Activity during theFinancial Year 2016-17

2. Future Plan of Action:

Steps are continuously being taken to promote the branded sales in domestic as well asoverseas market. The Company is continuously making efforts to provide best of qualityproducts to its customers

3. Technology Absorption Adaption and Innovation:

Technology absorption Adaption and innovation has always been the key strength of theCompany. The Company plans to be a leading player in technology production throughinnovative products.

4. Expenditure in Foreign Currency

Particulars 2016-17 2015-16
Commission 4054763 6720195
Travelling Expenses 335286 681145
Exhibition Expenses - 462786

Earnings in Foreign Currency (on accrual basis)

Particulars 2016-17 '

2015-16

Bulk Agricultural Products 627648908 979036685