SVP AGRO FOODS LIMITED
SVP AGRO FOODS LIMITED
Your Director present their Ninth Annual Report and audited Accounts for
the year ended 30th September,1998.
Despite adverse condition your company recorded highest yearly production
representing capacity utilisation of 81% as against 78% in previous year.
The turnover of the Company also increased by 82% on annual basis.
Your company has issued and alloted 18,00,000 lacs Equity shares at par on
private placement basis to promoters and their associates in December,1998.
The members are aware that the Company is increasing its production
capacity from 1500 MTPA to 2700 MTPA and as undertaken a backward
integration programme at an estimated cost of Rs 960.00 lacs. The over all
progress of the project is satisfactory.
Your company is also considering to set up a branch/owned subsidiary
Company in The Netherlands.
4. PARTICULARS OF EMPLOYEES
The information as required Under Section 217 (2-A) of the Companies Act
1956 is nil.
5. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS
Total energy consumption Electricity Purchase :
Unit Amt (Rs in lacs) Cost per Unit (Rs)
812314 28.59 3.52
Foreign Exchange Earnings and outgo:
Earning in Foreign Exchange on account of Export US 3146593/-
Expenditure in foreign currency Pound string 1000/-
6. FIXED DEPOSITS:
The Company has accepted/renewed public deposits of Rs 43.52 lacs during
the period under consideration.
Shri Dhermesh.D.Shah and Shri Bharat.C.Patel Directors of your Company are
retiring by rotation and being eligible offer themselves for re-appointment.
M/S S.HEMAL & ASSOCIATES Chartered Accountants, Ahmedabad who are the
present auditors of the Company holds office until the conclusion of the
ensuing Annual General Meeting.The Board recommends their appointment.
Your Directors would like to thank the state and Central Government
Authorities, the Financial Institutions and Banks for continuos support
given by them to the Company. We also express our gratitude for the whole
hearted support from our esteemed business associates , depositors and
all our shareholders of the Company. We also take this opportunity for
expressing our sincere appreciation of all the outstanding contributions
made by employees at all level to the operations of the Company.
By order of Board of Director
For SYP AGRO FOODS LIMITED
Date : 3rd March, 1999.