SHREE JAGDAMBE PAPER MILLS LIMITED, SIRSA
ANNUAL REPORT 2007-2008
The Director's of your Company feel pleasure in presenting Report & Audited
Accounts of the Company for the period from 1st April, 2007 to 31st March,
The Gross Profit of the Company for the
period amounts to 9350958 11869178
out of which are deducted:
Depreciation 6351883 7072849
Interest 2550219 2480862
Leaving Surplus/Deficit (+) 48856 (+) 2315467
Income Tax/Wealth Tax (-) 599423 (-) 265022
Deferred Tax (+) 331790 (+) 1057963
F.B.T. Deposited (-) 59800 (-) 77469
Add :Carry forward loss/profit of previous year 7001095 3970156
Making total surplus available (+) 7122518 (+) 7001095
Balance Of Profit/Loss (+) 7122518 (+) 7001095
carried to balance sheet
The Company had produced 8072 M.T. Packing Paper during the year under
review as against. 8403 M.T. of Packing Paper in the previous year.
Due to severe competition from mills operating in radius of Delhi and there
is no margin in the manufacture of Kraft Paper, the Company has taken over
other activities such as handling and. commission agency business. By
taking these activities Company is able to reduce the losses.
Your company place on record their heartiest, thanks to the Management of
Indian Overseas Bank, Sirsa for providing various loan facilities.
The Company accepted deposits only from its Directors and companies as and
when funds were required.
Shri Anil Goyal & Sh Rakesh Goyal are due to retire by rotation at the
ensuing general meeting and being eligible offer themselves for re-
The relation between the Company and the Workers remain Co-ordial.The
Directors are pleased to place on record their appreciation for efficient,
and loyal services rendered by the officers,technical staff,office staff
and workers of the Company.
CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION:
In compliance with requirement of section 217(1)(c) of the Companies Act,
1956 read with the Companies(Disclosure of particulars in the report of
Board of Directors) Rule, 1988 the statement showing the particulars in
relation to conservation of energy and technology absorption and foreign
exchange earning and outgoing are annexed to and form part of the report.
Due to tight liquidity position your Director do not propose any dividend
for the year.
REQUIREMENT U/S 217 (2A) OF THE COMPANY ACT,1956:
None of the Employee was in receipt of remuneration which is in the
aggregate was not less than Rs.2400000/-per annum where employed throughout
the year or not less than Rs200000/-per month where employed for part of
DIRECTORS ' RESPONSIBILITY STATEMENT:
Your directors pursuant to section 217(2AA) of the Companies Act, 1956
states as follows :
1) That in. the prepration of annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
ii) That the directors had selected such accounting policies and applied
them consistently and made judgememts and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of financial year and of the profit or loss of the
Company for that period.
iii) 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.
iv) That the directors had prepared the annual accounts on a going concern
Auditor's remarks,wherever they appear,read with notes to the accounts are
self-explanatory and do not require any further comments.
M/s Bhudladia & Company,Chartered Accountants,Sirsa Auditors of the Company
retire and being eligible offer themselves for re-appointment.
FOR ON BEHALF OF BOARD
(Surender Kumar Goyal)
PLACE : SIRSA
DATED : The 9th day of July, 2008.
ANNEXURE TO DIRECTORS REPORT
Information pursuant to section 217(1 )(e) of the Companies Act, 1956, read
with the Companies (Disclosure of particulars in the report of the Board of
Directors) rule 1988 and forming part of the Director's Report for the year
ended list March, 2008.
A. CONSERVATION OF ENERGY:
a) Energy-conservation measures taken :
The Company's efforts in reducing energy consumption per unit of
production through efficient production planning and modification in
equipment are continuing.
b) Additional investments proposals:
c) Impact of measure at (a)&(b) above for reducing energy consumption
consequent impact on the cost of production of goods:
The measures indicated in (a)&(b) above yielded/ expected to yield and
positive results in reducing energy consumption and cost of production.
d) Power & Fuel Consumption Current Year Previous Year
Purchased Units (KMH) 6363910 6084960
b) Total Amount (Rs.) 27562339 25511010
Rate per Unit (Rs.) 4.33 4.19
i) Through diesal generator 40256 212906
Unit per litter of diesal oil 3.75 3.75
Cost/Unit (Kg.) 8.35 8.27
ii) Through steam Turbine/Generator unit Nil Nil
Units per litter of fuel oil/gas cost/unit (Rs.) Nil Nil
2. Coal, Steam Coal for Steam Generation Steam Coal for
Qty.(Tonnes) Nil Nil
Total Cost Nil Nil
Average rate Nil Nil
3. Furnace Oil:
Qty.(ltrs) Nil Nil
Total Cost Nil Nil
Average rate Nil Nil
4. Other Generation
(Husk, Oil & Bardana):
Qty.(N.T.) 5741.058 4358.973
Total Cost 5702839.00 3693594.00
Average Rate 993.34 847.35
Consumption Per Unit
Electricity (KMH) 788.36 724.13
Furnace Oil Nil Nil
Coal (Qty) Nil Nil
Others (Qty) 0.711 H.T. 0.519 H.T.
Research & Development (R&D):
a) Specific areas in which R&D carried out by the Company :
Research & Development activities are taken up on continuous tests, so as
to increase productivity, reduce cost of production and improve quality.
Benefits derived as a result of above (R&D):
Anticipated results followed
Future plan and actions :
Energy conservation and cost reduction steps are continued as are on going
EXPENDITURE OR R & D :
a) Capital }
b) Recurring } Separate account of expenditure is not
} maintained and the expenses are merged
c) Total } with relevant heads of expenditure.
d) Total R&D expenditure as a }
percentage of total turnover }
B. Technology absorption, adoption and innovation :
i) Efforts, in brief, made towards technology absorption, adaption and
The Company's research development wing is fully gearted to absorb, adapt
and innovate the modern technology on a continuing basis.
ii) Benefits derived as a result of the above efforts :
Improved quality of finished products.
iii) In case of imported technology (imported during the last. 5 years
reckoned from the beginning of the financial year) following information
may be furnished.
a) Technology imported Nil
b) Year of import Nil
c) Has technology been fully absorbed Nil
If not fully absorbed, areas where this
has not taken place, reasons therefore N.A.
and future plans of action.
C, Foreign Exchange Earnings and Outgo
a) Activities relating to exports initiatives
taken to increase exports development of new
export markets for products and services and
export plans. Nil
b) Total foreign exchange used and earned Nil
For AND ON BEHALF OF BOARD
(Suredner Kumar Goyal)
Dated: The 9th day of July, 2008.