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Bharani Oils Ltd.

BSE: 519423 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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Bharani Oils Ltd. (BHARANIOILS) - Director Report

Company director report

1995 BHARANI OILS LIMITED DIRECTOR'S REPORT Your Directors are pleased to present the Annual Report and Audited Accounts of the company for the financial year ended 31st March, 1995. REVIEW OF OPERATIONS Sales of your Company's Products during the year, stood at Rs.3069.62 lakhs, registered a growth of 51.56% over that of the previous year (Rs.2024.08 lakh). During the year under review, market for Refined Oil witnessed high degree of fluctuations. The Government of India has permitted Import of Palm Oil under Open General License. This has caused considerable strain on the domestic market of Edible Oils. Consequently there is a sqeeze on the profit margins. In the difficult circumstances, your company performed satisfactorily by its relentless thrust On productivity and resource utilisation, sound financial management, quality upgradation and abiding commitment to customer service and satisfaction. EXPORTS The Company's Exports during 1994-95 stood at Rs.414.94 lakhs as against Rs.220.02 lakhs during the previous year. The Company's Exports are expected to improve further in the coming years. INDUSTRIAL RELATIONS The Company had harmonious industrial relations at all levels of the organisation. It will be the endeavor of the Company to continue to maintain the good industrial climate. DISCLOSURES OF PARTICULARS Particulars of conservation of energy, technology absorption and foreign exchange earning and outgo as required under Section 217(1)(a) of the Companies Act, 1956, and Rules framed thereunder are given in Annexure. PARTICULARS OF EMPLOYEES The Company has no employee of the category specified in Section 217(2A) of the Companies Act, 1956 read with Company (Particulars of Employee) Rules, 1975. DIRECTORS Mr. K.V.R. Surayanarayana resigned as Director on 29th August, 1995 due to personal reasons. The Directors wish to place on record their appreciation of the services rendered to the Company during his tenure on the Board. In his place Mr. K.V. Suryanarayana Raju has been appointed as Additional Director till the conclusion of the ensuing Annual General Meeting. He retires at this Annual General Meeting and is eligible for reappointment. STATUTORY AUDITORS During the year, there arose, a casual vacancy in the post of Auditors, on Account of unavailability and inaccessibility of the Auditors appointed in the last Annual General Meeting. As the Company has to stick to various rules and time schedules fixed in the Acts, in the matter of finalisation of accounts and adoption of the same, the Directors by exercising the powers vested in them by Section 224(6)(a) appointed M/s. S.V. Rao Associates as Statutory Auditors of the Company for the year 1994-95. Subsequently, the erstwhile Chartered Accountants M/s. Kantipudi & Co., have intimated the Company that on account of their busy schedule outside their place, they could not get in touch with the Company inspite of their communication and thus M/s. Kantipudi & Co., have sought to be relieved and their request was duly accepted. M/s. S.V. Rao Associates, retire at this Annual General Meeting and they are eligible for reappointment. ACKNOWLEDGMENTS The Directors wish to place on record their appreciation of the whole hearted support and sincere co-operation that the Company has received from Banks, Financial Institutions and Government Departments. The Directors also wish to thank all the employees for their support and co-operation. ANNEXURES TO DIRECTORS' REPORT Disclosure of particulars with respect to conservation of energy, technology absorption, foreign exchange earnings and outgo as required under the Companies Act, 1956 (Disclosure of Particulars in the Report of Board Of Directors) Rules, 1988 and forming part of the Report of the Board of Directors for the year ended 31st March, 1995. FORM - A DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY Current Year Previous Year 1. POWER & FUEL CONSUMPTION: a) Purchases: Units (Kwh) 7,13,072 5,96,860 Total Amount (Rs.) 17,30,980 10,92,796 Rate per Unit (Rs.) 2.43 1.83 b) Own Generation (Through Diesel Generator): Units (Kwh) 68,148 40,428 Units per Ltr. of Diesel Oil 3.20 Kwh 3.20 Kwh Cost per unit (Rs.) 3.12 2.58 2. FURNACE OIL 3. FUEL (Used on Boiler) Quantity 3,468 3,145 Total Cost (Rs.) 8,53,047 7,47,618 Average Rate 246 238 4. OTHERS/INTERNAL GENERATION -- -- FORM - B FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO ABSORPTION 1. RESEARCH AND DEVELOPMENT (R & D): NIL II. TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION: 1. Efforts, in brief, made towards Technology absorption, adoption and innovation: Adopted an Agro-waste fired Boiler which will reduce per unit cost of steam when compared to the traditional coal fired Boilers. And also introduced an indigenous cake processing unit in addition to the existing line of production. 2. Benefits derived as a result of the above efforts: Product improvement, cost reduction, product development, import substitution, versatility in usage of Raw Materials etc. 3. Imported Technology : No technology was Imported. FORM - C FOREIGN EXCHANGE EARNINGS AND OUTGO 1. During the period ending 31.3.1995, the Company has exported Rs.414.94 lakhs worth of De-oiled Rice Bran/Cakes. 2. The Company has not imported any Raw Materials, Machinery, Spares and Technical Brochures which required Foreign Exchange outgo. By Order of the Board D.V. Thirupathi Raju Chairman & Managing Director Place : Hyderabad, Dated : 29th August, 1995.