OMC COMPUTERS LIMITED
Your Directors submit the Thirteenth Annual Report and the Accounts for the
year ending 30th June 1995.
During the year 1994-95, operations were below the break-even level due to
liquidity problems faced by the company. The Company could achieve a
turnover of Rs.6.8 Crores only and Operations resulted in a net loss of
Though it was proposed to raise equity by way of further issue of shares
and share holders have passed special resolution to this effect during May
1995 amount could not be raised in view of the adverse capital market
Company is taking steps to improve its business on several fronts
particularly on education and training and export of software which have
high potential and margins. Company is also taking steps to infuse long
term funds into the company to over come the liquidity problems and improve
Company together with ECIL and three South African companies formed
consortium and jointly participated in a global tender floated by South
African Government for computerisation of hospitals in South Africa,
project cost of which is about Rs.130 Crores. Company is expecting a
sizeable order against this tender. Company is also expecting to sign a
contract with US Company for exporting product software to the tune of
about $500,000 to $600,000 which will be highly profitable.
Company is planning to set up its own education and training centres in
important cities and also franchisee centres throughout the country.
Company is also planning to impart training through Television Channel and
Company is also taking steps to increase its turnover of both software and
hardware in the domestic market.
In the light of the above steps your directors are confident that the
company will turn around during the current year and achieve projected
turnover and profits.
Dr Raj Reddy & Mr S.M Bhandarkar. who retire by rotation at the end of the
ensuing Annual General Meeting being eligible offer themselves for
M/s.M Bhaskara Rao & Co. Chartered Accountants retire at the conclusion of
the ensuing Annual General Meeting but being eligible offer themselves for
reappointment. Members are requested to appoint Auditors.
PARTICULARS OF EMPLOYEES
Information as per Section 217 (2A) of the Companies Act 1956 read with the
companies Particulars of Employees) Rules. 1975 is given In the Annexure II
forming part of this report.
PARTICULARS OF FOREIGN EXCHANGE EARNINGS AND OUTFLOW. RESEARCH &
DEVELOPMENT ACTIVITIES AND TECHNOLOGY ABSORPTION.
Particulars required to be disclosed as per Section 217 (1) (e) of the
Companies Act 1956 read with the Companies (Disclosure of particulars in
the Report of Board of Directors) Rules 1988 is given in the Annexure II
forming part of this report
The Board of Directors place on record its grateful thanks to the Company's
bankers Financial Institutions and Government Departments etc. for their
continued support and assistance. The Directors also wish to particularly
record their sincere appreciation of the hard work and dedicated efforts of
ANNEXURE - II
Information Required as per Section 217 (i) (e) of Companies Act 1956 read
with Companies (Disclosures of Particulars in Report of Board of Directors)
FOREIGN EXCHANGE EARNED AND USED
1994 - 95
Used Rs. 66.39 lacs
RESEARCH AND DEVELOPMENT
During the year development of software viz. 2 dimensional product and 3
dimensional product has been continued. In addition software for banking
back office automation and local branch machanisation has been developed.
Expenditure on R&D
A. Capital Rs. 13.32 lacs
B. Recurring Rs. 51.09 lacs
C. Total Rs. 64.41 lacs
D. % to Turnover 7.56 %
TECHNOLOGY ABSORPTION NIL.
By Order of the Board
Place : Hyderabad,