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Aditya Polymers Ltd.

BSE: 514338 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Aditya Polymers Ltd
NSE 05:30 | 01 Jan Aditya Polymers Ltd

Aditya Polymers Ltd. (ADITYAPOLYMERS) - Director Report

Company director report

ADITYA POLYMERS LIMITED ANNUAL REPORT 1999-2000 DIRECTORS' REPORT To: THE MEMBERS Your Directors have pleasure in submitting Fifteenth Annual Report and Audited Accounts of your Company for the year ended on 31st March, 2000. PERFORMANCE: Your directors are pleased to report that during the year 1999-2000, the operations of your company were further consolidated to show better results than the previous year. Accordingly, there is an increase in turn over of 24.30% over previous year. However, due to increase in raw-material cost and other manufacturing expenses and administrative expenses over previous year, there is a net loss of Rs.40.84 lacs as against loss of Rs.20.23 lacs after providing for depreciation and Taxation during the year. CURRENT YEAR: The demand for the company's product has improved in the first quarter of the current year and with improvement in over all economic conditions and core sectors of the Industry, the management hopes better performance during the current year. DIVIDEND: In view of losses the Board does not recommend any dividend. FINANCE: The Company has made a payment of Rs.42.25 Lacs towards working capital term loan and availed short term loan of Rs.29.95 lacs from the bank DEPOSITS: The Company has not accepted any deposits during the year which attracts the provisions of Section 58(A) of the Companies Act, 1956. PERSONNEL: There are no employees drawing salary exceeding the limits specified under Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975. INFORMATIONS REGARDING CONSERVATION OF ENERGY ETC: Information pursuant to Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in Director's report) rules, 1988 is given in Annexure forming part of this report. There are no foreign exchange earning and outgo during the year. DIRECTORS: Mr. Yoeshrai Goel and Mr. M.K. Chhawchharia retire by rotation and being eligible, offer themselves for reappointment. AUDITORS: M/s. Pipara & Co., Chartered Accountants, Ahmedabad resigned during the year and in their place M/s. Naimish K. Shah & Co., Chartered Accountants was appointed by the members in the Extra Ordinary General Meeting. M/s.M/s Naimish K.Shah & Co., Chartered Accountants retires at the Annual General Meeting and being eligible, offers themselves for reappointment. You are requested to appoint them and to fix their remuneration. AUDITORS' REPORT: The comments in the Auditors' Report read with notes to the Accounts in Schedule "P" are self explanatory and do not call for any further explanation. LISTING OF THE COMPANY'S EQUITY SHARES The Equity Shares of your Company continue to be listed during the year under review at the Ahmedabad and Mumbai Stock Exchanges. The Company has yet to pay the annual listing fees for the financial year 2000-2001 to these Stock Exchange. ACKNOWLEDGEMENTS: Your Directors wish to place on record their appreciation for whole hearted Co-operation received from Financial Institutions, Bankers, Customers and all the Employees of the company. FOR AND ON BEHALF OF THE BOARD OF DIRECTORS Date: 05/08/2000 YOGESH RAI GOEL Place: AHMEDABAD. Managing Director ANNEXURE I ANNEXURE TO THE DIRECTORS' REPORT A. Conservation of Energy: Energy conservation measure taken by the Company mainly include selection & installation of energy efficient equipments and energy saving devices. The impact of measures on the cost of production is not precisely ascertainable. B. Technology Absorption: a) Research & Development: The Company has not so far formally established Research & Development wing. b) Technology absorption, adaptation & innovation. The Company has not imported any technology. FORM - A Form for disclosure of particulars with respect to conservation of energy. [B] Technology Absorption: There are no specific areas wherein any R&D is being carried out. [C] Foreign Exchange earnings and outgo: There was no Foreign Exchange Earnings & Outgo during the year.