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Aquamarine Food Products Ltd.

BSE: 519268 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Aquamarine Food Products Ltd
NSE 05:30 | 01 Jan Aquamarine Food Products Ltd

Aquamarine Food Products Ltd. (AQUAMARINEFOOD) - Director Report

Company director report

1996 AQUAMARINE FOOD PRODUCTS LIMITED DIRECTORS' REPORT The Directors have pleasure in presenting the Fifth Annual Report together with the Audited Accounts of the Company for the year ended 31-03-1996. OPERATIONS The Company had only a marginal profit since estimated turnover for the year 1995-96 could not be achieved due to delay in linking up the working capital and term loans required. PROSPECTS The company is making all efforts to obtain working capital required from commercial banks. It has increasingly becoming difficult to finance aquaculture projects due to the disease outbreaks in the last couple of years. INFORMATION PURSUANT TO CLAUSE 43 OF THE LISTING AGREEMENT Particulars Actuals Projected (Rs in lakhs) (Rs in lakhs) Net Income 773.00 4438.00 Total Expenditure 543.46 3256.00 Interest 137.96 342.00 Gross Profit after Interest before Depreciation & Tax 91.58 840.00 Depreciation 62.24 89.00 Net Profit 29.34 751.00 Paid up Equity share Capital 1305.14 852.00 ADDITIONAL INFORMATION AS REQUIRED U/S 217(1)(e) OF THE COMPANIES ACT, 1956. (a) Conservation of Energy: The company is monitoring the consumption of energy and is identifying measures for conservation of energy. (b) (i) Technology Absorption, adaptation and innovation:- (ii) Research and Development (R & D): The Company is in the process of identifying areas in which R&D can be carried-out (c) Foreign exchange earnings and out go: (i) Foreign Exchange earnings: Nil (ii) Foreign Exchange outflow: Nil PARTICULARS OF EMPLOYEES In pursuance of the provisions of section 217(2A) of the Companies Act,1956 read with the Companies (Particulars of Employees) Rules 1975, the Directors report that no employee was in receipt of remuneration of Rs.3,00,000/- or more per annum or Rs.25,000/- or more per month if employed for a part of the year. DIRECTORS Sri S. Jayadev retires by rotation and being eligible, offers himself for reappointment. AUDITORS M/s. MOGlLI SRIDHAR & CO., Chartered Accountants, retiring auditors of the Company being eligible, offer themselves for re-appointment as auditors of the Company. They have furnished a certificate of their eligibility u/s 224(1 B) of the Companies Act, 1956. The members are requested to reappoint the auditors and authorise the Board of Directors of the Company to fix their remuneration. PERSONNEL The relations between the management and the staff were very cordial throughout the year. Your Directors take this opportunity to record their appreciation for the Co-operation and loyal services rendered by the employees. DEPOSITS The company has not accepted any deposits during the year. ACKNOWLEDGEMENTS Your Directors gratefully acknowledge with thanks the constructive guidance and co-operation extended by SCICI, IRBI and other Government Agencies. On behalf of the Board of Directors for AQUAMARINE FOOD PRODUCTS LIMITED S.JAYADEV K.SRINIVAS RAO DIRECTOR DIRECTOR PLACE : HYDERABAD DATED : 26th August, 1996.