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Arhat Industries Ltd.

BSE: 523812 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Arhat Industries Ltd
NSE 05:30 | 01 Jan Arhat Industries Ltd

Arhat Industries Ltd. (ARHATINDS) - Director Report

Company director report

1995 MANGLAM INDUSTRIES LIMITED DIRECTORS' REPORT The Directors are pleased to present FIFTH ANNUAL REPORT with audited Statement of accounts for year ended 31st March, 1995. DIVIDEND Inspite of increased in turnover your company could not achieve proportionate increase in profits due to lower margins and stiff competition. The directors have therefore not recommended any dividend for the year ended 31st March, 1995. OPERATIONS The turnover of the company for the year was Rs. 2728.84 lacs as compared to 1229.35 lacs during the last year. The profit before tax has been Rs. 75.84 lacs. The balance in profit and loss account has been transferred to balance sheet. The textile industry is in bad shape and the profits are marginal however the directors of your company have been trying to tap export market for better realisation of the products. The directors are hopeful for better results during coming period. DIRECTORS Shri Dilip M. Shah and Shri Bipin M. Shah directors of company retire at forthcoming Annual General Meeting and being eligible offer themselves for reappointment. The Board request members to consider their reappointment. Shri Indravadan Reshamwala, Wholetime Director of the Company has resigned from directorship during the year. The Board of Director appreciate the services rendered by him during his directorship in the company. FIXED DEPOSITS Company has not accepted fixed deposits from Public as per section 58A of Companies Act, 1956. PARTICULARS OF EMPLOYEES No employees of company is in receipt of remuneration exceeding limits laid down in section 217 (2A) of companies Act hence the details of statement under said section is to be considered as nil. AUDITORS The Auditors M/s. Ashvin Sanghvi, Chartered Accountants, 4-5, Vasudhara, Parsi Sheri, Surat - 395 001, retire at conclusion of the ensuing Annual General Meeting. They are eligible for reappointment. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNING AND OUTGO Information required as per section 217 (1)(E) read with companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988 is as under. A. Power and fuel consumption 1994-95 1993-94 1. ELECTRICITY a. Purchase Units in lacs 14.500 8.028 Total Amount Rs. in lacs 32.59 17.10 Rate/Units Rs. 2.247 2.130 b. Own generation Units in lacs 3.65 1.05 Units per litre of diesel Oil 3.00 3.00 Cost/Unit Rs. 2.76 2.73 B. Research and Development Company do not have at present any activities related to research and development. C. Foreign Exchange Earning & Out Go Foreign Exchange Earning & Out Go is nil. ACKNOWLEDGEMENT Yours Directors wish to thank and acknowledge the co-operation and assistance received from its Bankers, Financial Institutions, Government Authorities, Shares Holders and Employees of the company. For and on behalf of the Board PANKAJ M. SHAH Managing Director Place : Surat Date : 23rd November, 1995.