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Pan India Drugs & Chemicals Ltd.

BSE: 524560 Sector: Health care
NSE: N.A. ISIN Code: N.A.
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Pan India Drugs & Chemicals Ltd. (PANINDIADRUGS) - Director Report

Company director report

1995 PAN INDIA DRUGS & CHEMICALS LIMITED DIRECTORS REPORT Yours Directors have pleasure in presenting their Third Annual Report together with Audited Statement of Accounts for the year ended 31 st March 1995. DIVIDEND In order to conserve the resources and to strengthen the financial position for future expansion, your Directors do not recommend any dividend. PERFORMANCE The Company has completed implementation of the project at Indore and production commenced with full vigour. The first consginment rolled out in July 1994 and since then substantial progress made with achievement of turnover of Rs. 466.82 lacs and a Net Profit of Rs.30.53 Lacs. EXPORTS Your Company has registered exports during the year at Rs.26.32 lacs. The Company has received substantial export orders during the current year for existing and proposed products. OUT LOOK FOR FUTURE The Company is planning to implement the expasion project towards backward integration for production of 3 4 5 Trimethoxybenyldihyde, the main raw material for manufacture of TRIMETHOPRIM. which is being imported at present. Apart from this, few vital Bulk Drugs having globle demand are also planned for production. The Prospects of Bulk drugs & Pharmaceuticals Industry in India are very bright. FINANCE The Company was sanctioned and disbursed a Term loan assistance of Rs. 60.00 lacs by the M.P Financial Corporation. State Bank of India, M.G. Road, Indore has also sanctioned the working capital limits to the tune of Rs.128.00 lacs. Including Export Packing Credit Limit and non fund based limits. Your Directors are pleased to place on record their sincere appreciation towards M.P. Financial Corporation and State Bank of India. DIRECTORS Mrs. Rajlaxmi Jain & Mr. D.P. Desai retire by rotation and being eligible offer themselves for reappointment. DEPOSITS The Company has not accepted any deposits from public and have thus complied with the provisions of section 58-A of the Companies Act, 1956 and the Rules made thereunder and also the directives of the Reserve Bank of India. PARTICULAR OF EMPLOYEES During the year there were no employee drawing remuneration in excess of the ceilings provided U/S 217 (2A) of the companies Act 1956 read with the Companies (Particulars of employees Rules) 1975. No Employee holds more than 2% of equity shares of the Company. AUDITORS REPORT Notes contained in schedule 18 of the accounts referred to in the Auditors report are self explanatory and do not call for further eXplanation and may be treated as adequate in term of section 217 (3) of the Companies Act 1956. AUDITORS M/s. Vijay K. Jain & Associates the present Auditors of the Company retire on the conclusion of this Annual General Meeting and being eligible offer themselves for reappointment. Information regarding conservation of energy, absorptions of technology etc. as required under section 217(3) of the Act is annexed as per Annexure 'A' forming part of this report. ACKNOWLEDGMENT Your Directors wish to place on record their sincere appreciation for the continued co-operation, support and assistance provided during the year under review by the Bankers, Financial institution and Government authorities. Your Directors place on record their deep appreciation of the dedicated services rendered by he employees at all levels. The Board would also like to acknowledge the continued faith and confidence reposed by the share-holders of the Company. ANNEXURE TO THE DIRECTORS REPORT ANNEXURE 'A' Information as per section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclose of Particulars in the Report of Board of Directors) Rules, 1988 nd forming part of the Directors Report for the period ended March 31, 1995. CONSERVATION OF ENERGY A. POWER & FUEL CONSUMPTION Particulars 1994-95 1993-94 1. Electricity a) Purchases Units 55805 -- Total Amount Rs. 127305 -- b) own Generator Through Diesel Generator Units 234 -- Steam Generator though Boiler 440000 -- 2. L.D. Oil Consumed Ltrs. 21177.50 -- Total Amount Rs. 159397 -- 3. Diesel Consumed Ltrs. 5200 -- Total Amount Rs. 40768 -- B. CONSUMPTION PER KG. OF PRODUCTION OF BULK DRUGS Electricity units. 4.25 L.D.O. Ltrs. 1.60 Diesel Ltrs. 39 TECHNOLOGY ABSORPTION 1. Research & Development i) Specific Areas in which Research & Development Carried out by the Company. a) Drug Intermediates b) Cardio Vascular Drugs c) Anti Biotic Drugs II) Benefits desired as a result of the above R&D Investment in Research & Development are prerequisite of Pharmaceutical & bulk Drugs manufacturing unit and its benefits are expected to reflect in the financial results of comIng year. iii) Future Plan & Action Company propose ot diversify into profitable and less competitive areas specially on backward Integration of project. iv) Expenditure on R&D (Rs in Lacs) 1994-95 1993-94 a) Capital 1.44 0.97 b) Recurring 0.98 -- 2. Technology Absorption, Adaption & Innovation 1) Efforts in brief, made towards technology absorption, adaption & Innovation. Technology developed for Drug intermediates & anti cardiac vascular drugs & anti biotic drugs are being absorbed & adapted. 2) Benefit derived as a result of above effects Improved Product range & Versatility. 3) Technology improved during last 5 year - Nil. FOREIGN EXCHANGE EARNING & OUTGO : (Rs.in Lacs.) 1994-95 1993-94 i) Foreign Exchange Earned 3.91 -- ii) C.I.F value of import Raw material 61.67 -- Capital Goods -- iii) Foreign Tour 3.27 -- iv) Comission -- - - v) Subscription -- -- For and on behalf of the Board V.C.JAIN Managing Director Place : INDORE, Dated : 10th November, 1995.