SUBHLAXMI EXPORTS LIMITED
Your Directors are pleased to present the Eleventh Annual Report alongwith
Audited Balance Sheet and Profit and Loss Account for the year ended 31st
Your Directors express their inability to recommend any dividend for the
year under review, with a view to plough back the profit for the future
expansion of the Company.
During the year under review, the Company's sale has been registered at
Rs.962.25 Lacs as against Rs.901.63 lacs for the previous year.
All the hardware and software available with the Company are fully Y2K
Mrs. Hina Tandon, Director of the Company retires by rotation and being
eligible offers himself for re-appointment.
Mrs. Sangeeta Tandon and Mr. Arvind Hanmantgad, the Directors of the
Company have resigned with effect from 1st October,1998 and 8th January,
1999 respectively. The Board of Directors puts on record their appreciation
for valuable guidance given by them during their tenure as Directors .
The Auditors, M/s. Rajendra N. Agrawal & Co. Chartered Accountants, retire
at the forthcoming Annual General Meeting and are eligible for re-
During the year under review, the Company has not accepted any deposits
from the public.
PARTICULARS OF THE EMPLOYEES
None of the employees of the Company is covered by Section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975. (as amended)
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
1. Conservation of Energy:
The scope for conservation of energy is limited in type of industry in
which your Company is engaged as the consumption of energy being power-
electricity is negligible. However, the Company has been laying emphasis
on the conservation of energy and has been taking several measures like
regular monitoring of consumption.
2. Technology Absorption:
The Company has carried out R&D work for cost reduction, improvement in
quality and productivity. Expenditure incurred are charged under primary
heads of accounts and not allocated separately. The Company has not
imported any technology.
3. Foreign Exchange Earnings and Outgo:
A. Foreign Exchange Earnings: Nil (Nil)
B. Foreign Exchange Outgo : Rs. Nil (148066/- )
The Directors acknowledge with gratitude and wish to place on record their
appreciation for the support and Co-operation received by the Company from
Bankers, Shareholders, Press, Registrars and Employees at all levels during
the year and look forward to their continued support.
For and on behalf of the Board of Directors
Place: Mumbai Saurabh Tandon
Date: 31 st May. 1999 Chairman Managing Director