PERK PHARMACEUTICALS LIMITED
ANNUAL REPORT 2010-2011
Your Directors have pleasure in presenting the 30th Annual Report together
with the Audited Accounts of the Company for the year ended 31.03.2011.
CORPORATE RESULTS: (Rs. in Lakhs)
Sales 121.34 132.04
Profit before Interest & Depreciation 21.76 47.51
Less: Interest 0.14 0.30
Profit after Interest 21.62 47.21
Less: Depreciation 14.13 14.33
Profit before Tax 7.49 32.88
Less: Provision for Taxation - -
Profit after Taxation 7.49 32.88
Add: Balance Brought Forward (245.59) (278.47)
Add: Depreciation written back - -
Profits available for appropriation (238.10) (245.59)
Smt. Krishna Kaile, Smt. Indu Kumar and Shri Vikram Kaile, Directors of
Company retires by rotation at this ensuing Annual General Meeting but
being eligible offers themselves for re-appointment.
Due to wipe out the losses of pervious years of the Company, The Directors
do not propose any Dividend for the year under review.
EXPANSION & FUTURE OUTLOOK:
The Company is planning to launch new products like the Calcium Range and
enter the trading of basic drugs in coming months which should help to wipe
out its losses The Company is in stabilizing its sales and its products
also and the Company hopes to increase turnover and performance next year
its Sales so as to give better results in the coming years.
NEW PRODUCT LAUNCHES:
The Company is planning new range of Calcium Group, Food Supplements and
muscular relaxants in coming months, which should help to capture new
markets. Now the company is also likely to enter new market in different
parts of country and also planning to re-consider its market polices to
penetrate the markets.
The Company and the Directors record their appreciation for the cordial
relationship between the employees and management and the Company continues
to pay greater attention in encouraging a healthy work environment.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING
Statements in accordance with the provisions of 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, regarding conservation of
energy, technology absorption and foreign exchange transactions are given
in Annexure forming part of this Report.
M/S Jyotsana Madan & Associates, Chartered Accountants, auditors of the
Company retire at this meeting and are eligible for reappointment. The
Company has received a certificate to the effect that their reappointment
if made would be in accordance with the provision of Companies Act 1956.
The provisions of Corporate Governance were implemented during the
financial year 2002 - 2003 i.e. w.e.f. 31.01.2003. A separate report on
Corporate Governance is included / annexed as part of the Annual Report
2010-2011.The Auditor's Certificate confirming compliance of conditions of
corporate governance is included in the said report.
LISTING OF SHARES INFORMATION REGARDING STOCK EXCHANGE:
The company's equity shares are listed at the Stock Exchange, Mumbai and
The U.P. Stock Exchange Association Limited, Kanpur. The company has passed
resolution in the 22nd Annual General Meeting for De-Listing of Shares from
The Stock Exchanges of Delhi and Hyderabad and the matter is under process.
PARTICULARS OF EMPLOYERS:
There was no employee in receipt of remuneration attracting the provisions
of section 217(2A) of the Companies Act, 1956, read with the companies
(Particulars of employees amendment) Rules, 1988.
DIRECTORS RESPONSIBILITY STATEMENT: (Under Section 217 (2AA) of the
We accordingly state:-
1. That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
2. That the directors had selected such accounting policies and applied the
consistently and made judgment and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the
company at the end of the financial year and of the profit or loss of the
company for that period;
3. That the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
4. That the directors had prepared the annual accounts on a going concern
The notes to the accounts are self explanatory & therefore do not call for
any further comments.
The Directors acknowledge the active co-operation & help received from the
Banks & Government agencies. They also gratefully acknowledge the support
and goodwill extended by the Doctors, Dealers, Customers, Suppliers and
For and on Behalf of the Board
Date : 14th July, 2011 (DHIRAJ KAILE) (VIKRAM KAILE)
Place: Partapur, Meerut CHAIRMAN & WHOLE TIME DIRECTOR
(Annexure to the Directors' Report)
Information as per Section 217(1)(e) of the Companies Act,1956 read with
Companies (Disclosure of Particulars in Report of the Board of Directors)
Rules, 1988 and forming part of the Directors Report for the year ended
31st March, 2011.
A. CONSERVATION OF ENERGY:
a) The Company is continuing its Energy Conservation Measures like:
(i) Continuous monitoring of power factor has been done resulting in a
consistent power factor of 0.85, thus saving electrical energy.
(ii) Proper Maintenance of energy efficient heaters in Steam Autoclave.
(iii) Proper Maintenance of Chilled Water pipelines.
b) Additional Investment and Proposal:
(i) Streamlining of Piping, insulation and distribution panels is being
c) Impact of measures (a) and (b) above:
There has been and is further going to be a favorable impact of the above
steps in reducing the energy cost.
d) Total Energy Consumption per unit of Production:
Information is given in Form A, annexed.
B. TECHNOLOGY ABSORPTION:
e) Efforts made towards Technology absorption:
Latest additional techniques as per WHO G.M.P. standards employed and are
being updated in the complete Manufacturing facilities.
C. FOREIGN EXCHANGE EARNINGS AND OUTGO:
FORM - A
CONSERVATION OF ENERGY:
Year Ended Year Ended
Power & Fuel Consumption
Units 37,425 38,421
Total Amount (Rs.) 249,593.00 245,869.00
Rate/Unit (Rs.) 6.67 6.40
b) Own Generation
(Through D.G. Set)
Units 3,500 3,400
Units/Liter of Diesel Oil 4.00 4.00
Cost/Units (Rs.) 9.67 8.77
2. Coal - Not Applicable.
For and on behalf of the Board
(DHIRAJ KAILE) (VIKRAM KAILE)
Place: Partapur, Meerut CHAIRMAN & WHOLE TIME DIRECTOR
Date : 14th July, 2011 MANAGING DIRECTOR