RADHAKISHAN CEMENT LIMITED
Your Directors present their 14th Annual Report on the business and
operations of the Company together with Audited Statement of Accounts for
the year ended 31st March 1995.
The Company was implementing the BIFR Package which included Erection of
Pollution Control Equipment. There was a delay in obtaining the Critical
Parts of the said equipment and which is under progress.
The Company was served a closure order by Gujarat Pollution Control Board
on 17th December, 1994 and therefore the Company had to cease its
The Board for Industrial & Financial Reconstruction has directed the
Management to give a proposal for One Time Settlement of Loan of Financial
Institutions to make the unit viable. The Management has given the said
proposal which is under its consideration.
The Company has received a certificate from M/s. Apaji Amin & Co.,
Ahmedabad, the retiring Auditors, regarding their eligibility for
reappointment as Auditors pursuant to the provisions of Section 224(1) of
the Compaines Act, 1956. Members are requested to appoint there as Auditors
to hold Office till the conclusion of next Annual General Meeting and to
fix their remuneration.
The observation of Auditors are explained as under:
i) Regarding accounting on cash basis, on certain items it was due to
administrative convenience and due to amount being insignificant.
ii) Necessary steps are being taken to reconcile and to obtain confirmation
from various parties. However their response is very poor.
iii) Regarding the preparation of Balance Sheet as a Going Concern is self
PARTICULARS OP EMPLOYEES:
There were no employees within the meaning of Section 217 (2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended.
Shri B. R. Shah, Cost Accountant has been appointed as Cost Auditors with
the approval of Government of India to conduct the audit of cost records of
the Company for the year ended 31st March, 1995 pursuant to section 233 B
of the Companies Act, 1956.
Shri A. A. Raval, a Nominee Director of Bank of Baroda, and Shri A. G. Shah
have resigned from the Board of Directors. The Company records with
appreciation for the guidance given by Shri A. A. Raval and Shri A. G.
Shri P. N. Gulati and Shri K. J. Roy retire by rotation and being eligible
otter themselves for reappointment.
PARTICULARS OF ENERGY CONSERVATION ETC :
Particulars with respect to conservation of energy 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) and forming
part of the Directors report of the ended 31st March, 1995 are annexed to
The Board wishes to place on record its appreciation of the sincere and
dedicated services rendered by the Workers and employees of the Company at
ANNEXURE TO DIRECTORS REPORT
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND
OUTGO The details as required under the Companies (Disclosure of
particulars in the Report of Board of Directors) Rules, 1988 are as
1. CONSERVATION OF ENERGY
During the year under review the Company could not effect any specific
conservation of energy and no additional investment was made in this
context. However the prescribed information as per Form-A of the relevant
rules regarding the total energy consumption and per unit consumption is
A. Power & Fuel Consumption 1994-95 1993-94
a) Purchased Units 1639846 KWH 3669800 KWH
Total Amount Rs. 65,55,928 Rs. 1,12,38,328
Rate/Unit Per Unit Rs. 3.99 Per Unit Rs. 3.06
b) Own Generation: Nil Nil
i) Through Diesel General Units N/A N/A
Unit of Ltr. of Diesel Cost per Unit Nil Nil
ii) Through Steam Turbine/
2. Coal (Specify Quality & where used)
Quantity (Tonnes) 2440 tonnes 6676 tonnes
of 35% Ash of 35% Ash
Total Cost Rs. 42,05,017 Rs. 1,02,79,164
Average Rate Rs. 1,727 Rs. 1,540
3. Furnace Oil Nil Nil
4. Other/lnternal Generation Nil Nil
B. Consumption per unit of production standards (If any)
Product (with details) unit-Cement.
i) Electricity 210.29 KVH Avg 140.72 KVH Avg
Unit per tonne of Unit per tonne of
ii) Furnace Oil Nil Nil
iii) Coal (Specify Quality) 35.78% on 33.65% on
Clinker Product Clinker Product
II. TECHNOLOGY ABSORPTION:
During the year no Research & Development activity was carried out by the
Company and there was no technology absorption, adaptation and innovation.
As such the prescribed information as per Form B is NIL for the year.
III. Foreign Exchange Earnings and outgo: During the year under report,
there was no foreign Exchange earning and outgo.
By Order of the Board of Directors
Place : Ahmedabad.
Dated : 4th December, 1995.