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Vishva Vishal Engineering Ltd.

BSE: 512321 Sector: Engineering
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Vishva Vishal Engineering Ltd. (VISHVAVISHAL) - Director Report

Company director report

VISHVA VISHAL ENGINEERING LIMITED ANNUAL REPORT 2003-2004 DIRECTOR'S REPORT To the Members. Your Directors have pleasure in presenting their 18th Annual Report together with the Audited accounts of the Company for the financial year ended 31st March. 2004. Financial Results: (Amount in Rs.) F. Year - 2004 F. Year - 2003 Sales & Other Income 13,41,51,149 13,55,54,488 Profit before financial charge & depreciation 2,14,12,019 2,39,52,881 Less : financial charges 56,51.834 18.67.565 Less : Depreciation 74,75,987 58,38,302 Profit before tax & extra ordinary items 82,84,198 1,62,47,014 Less : Loss on sale of fixed assets - 48,50,349 Less : Loss on sale of investments 3.305 - Profit before tax 82,80,893 1,13,96,665 Less : Provision for income tax 22,50.000 11.20,000 Less : Provision for Deferred tax liability (net) 3,64,531 33,32,200 Profit after tax 56,66,362 69,44,465 Less : Previous year adjustment 1,25,417 - Less : Income Tat for earlier year 39,34.687 78.577 Balance transferred to General Reserve 16,06,228 68,65,888 Dividend: With a view to conserve a the resources, the Directors of the Company have decided not to recommend any dividend for the current year. Directors: Shri Ashish Jan retires by rotation and being eligible offer himself for re-election. Shri S.R. Varadarajan retires by rotation and being eligible offer himself for re-election. Auditors: Your Auditors M/s. P.K. Ajitsaria &. Co., Chartered Accountants retires and offer themselves for reappointmcnt. Directors Responsibility Statement: As per section 217 (2AA) of the Companies Act 1956 pursuant to the requirement under section 217 (2AA) of the Companies Act 1956 with respect to Directors Responsibility Statement it is hereby confirmed. 1. That in the preparation of the accounts for the financial near ended 31st March, 2004, the applicable accounting standard have been followed along with proper explanation relating to material departments. 2. That the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that were 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 the year under review. 3. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting record in accordance with the provision of the Companies Act. 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. 4. That the Directors have prepared the accounts for the financial year ended 31st March, 2004 on a going concern basis. Personnel: The information required under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of employees) Rules 1975 not annexed as there was no employee who was getting Rs.24,00,000/- per annum or Rs. 2,00,000/- per month. Acknowledgement: Your Directors would like to express their appreciation for the assistance and co-operation received from the Company's bankers. Govt. authorities, suppliers, customers and all stockholders during the year under review. Your Directors also wish to place on record the contribution of the executives, staff and workmen of the Company. Conservation of Energy, Technology Absorption: a) Conservation of Energy: Information relating to Energy Consumption and Conservation as required under rule 2 of the Companies (Disclosure of particulars in the report of Board of Directors) Rules. 1989 is given in Annexure-I forming part of this report. b) Technology Absorption & Research & Development: The Company does not have any Research & Development Section. Registered Office By Order of the Board 31, Maker Chambers III. 3rd Floor, Nariman Point. Mumbai. RAJEEV JAIN S.R. VARADARAJAN Date : 28-08-2004 DIRECTOR DIRECTOR Place : Bhilai Conservation of Energy, Technology Absorption, Exchange earning & Outgo. a) Conservation of Energy: Wherever possible, energy conservation measures have already been implemented. However, efforts to conserve and optimise the use of energy through improved methods and other means will continue. Further information relating to energy consumption as required under section 2 of the companies (Disclosure of particulars in the report of the Board of Directors) rules 1938 is given in Annexure - I forming part of this report. b) Technology, Absorption and Research & Development: The Company does not have any Research and Development Section. Annexure 'II' to Directors' Report: For disclosure of particulars with respect to conservation of Energy :- Power & Fuel Consumption 2003-04 2002-03 I. Electricity a) Purchased Units 4,28.247 223671 Total 20,48,485 1093170 Average rate per unit 4.78 4.89 b) Own Generation: (i) Through Diesel Generator Units 2,130 1810 Units/Litre of Diesel Oil 0.888 0.905 Cost/Unit 26.29 23.00 (ii) Through Turbo Generator N.A. N.A. Units Cost/Unit 2. Furnace Oil Qty. (Kg./Ltrs.) Total Amount/K.Ltrs of Oil 3. Consumption per unit of production Standard (if any). Electricity Consumption (KWH) / MT. Electricity Consumption (KWH) / MT. Electricity Consumption (KL) / MT.