Dhanashree Electronics Ltd.
||ISIN Code: INE413F01016
05:30 | 01 Jan
Dhanashree Electronics Ltd
05:30 | 01 Jan
Dhanashree Electronics Ltd
Dhanashree Electronics Ltd. (DHANASHREEELECT) - Director Report
Company director report
DHANASHREE ELECTRONICS LIMITED
ANNUAL REPORT 2008-2009
Your Directors take pleasure in presenting the 22nd Annual Report and the
Audited Statements of Accounts for the year ended on 31st March 2009.
The Financial Results of the company for the year ended 31.03.2009 relating
to the previous year are given here under:
(Rs. in 'Lacs)
For the year Previous year
Ended 31.03.2009 Ended 31.03.2008
Gross Turnover 559.14 499.15
Other income 1.78 4.25
Less:Expenses: 470.01 408.50
Gross Profit (Before 90.91 94.90
Dep. Int. & Tax)
Less:Depreciation 28.52 28.03
Less:Interest 22.58 25.43
Net Profit (Before Tax) 39.81 41.44
Less:Provision for Tax 7.39 3.13
Net Profit (After Tax) 32.42 38.31
Balance B/F (0.68) (38.99)
Apportionment for Provision (4.16) (0)
Balance carried to Balance Sheet 27.57 (0.68)
There has been a substantial growth in the turnover of your Company and
thus it was able to reduce further its carried forward losses. An
expansion programmed is under consideration and your directors expects a
substantial growth in the Company's performance. Your Directors are
optimistic about further improvements in the working results in the current
There being insufficient profits, your Directors regret their inability to
recommend any Dividend for the year.
MANAGEMENT DISCUSSION AND ANALYSIS:
A Report on Management Discussion and Analysis forming part of this Annual
Report is annexed hereto and marked as Annexure -'A:
A separate Report on Corporate Governance together with certificate of
compliance from the Auditors in terns of clause 49 of the Listing Agreement
is annexed hereto and marked as Annexure 'B'.
DIRECTORS RESPONSIBILITY STATEMENT:
In compliance with the provisions u/s 217 (2AA) of the Companies Act 1956,
your Directors hereby confirm:
(i) that in the preparation of the Annual Accounts of the Company, the
applicable Accounting Standards have been followed and that no material
departures have been made from the same:
(ii) that your Directors have selected such Accounting Policies as detailed
in Schedule12 to the Annual Accounts and applied them consistently and made
judgments and estimates that are reasonable and prudent 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 that period;
(iii) that to the best of their knowledge and information, they have taken
proper and sufficient care for maintenance of adequate Accounting Records
in accordance with the provisions of the companies Act 1956 for
safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities to the best of their knowledge and ability;
(iv) that the Annual Accounts have been prepared on a going concern basis.
The Company did not receive and/or renew any deposit from the Public during
the year nor was there was any balance carried forward.
PARTICULARS OF EMPLOYEES:
The Company has no employee whose remuneration is more than the limit
specified in Section 217 (2A) of the Companies Act, 1956. And thereby not
attracting the provisions under the Act.
Sri B.R. Kabra and Sri V.K. Sharma Directors of the Company retire by
rotation at the forthcoming Annual General meeting and, being eligible,
offer themselves for re-appointment.
M/s. Surana Sunil & Co., Chartered Accountants of the Company hold the
office until conclusion of the forth coming Annual General Meeting and
being eligible offer themselves for reappointment. The report of the
Auditors when read with notes on accounts it self explanation and needs no
ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE.:
The information required under section 217 (1)(e) of the Companies Act,
read with the Companies (Disclosure of Particulars in the Report of the
Board of directors) Rule 1988, with respect to conservation of energy,
technology absorption and foreign exchange is annexed hereto as Annexure
'C' and form part of this Report.
Your Directors place off records their appreciation of the valuable
services and sincere contributions made by the employees at all levels. The
Management and Employee relationship continued to be very cordial during
Your Directors sincerely appreciate the high degree of professionalism,
commitment and dedication displayed by employees at all levels. The
Directors also place on record their gratitude to the Members, various
departments of the Central and State Government and Bankers for their
continued support, co-operation and confidence.
Place: Kolkata For and on behalf of the Board
Date : 31.08.2009 M.G. Maheshwari
ANNEXURE TO THE DIRECTOR'S REPORT:
Information as required under section 217(1)(e) read with the Companies
(Disclosure of Particulars in the Report of the Board of directors) Rules,
A. CONSERVATION OF ENERGY:
a) Energy conservation measure taken:
The company is taking adequate steps for reduction in non-essential loads
to conserve power
b) Additional investment and proposals being implemented for reduction of
consumption of energy:
The efforts to conserve energy on other areas are in progress.
c) Impact of above measures:
More efficient utilization of power and reduction in energy consumption.
d) Total energy consumption and energy consumption per unit of production:
As per form 'A' annexed.
B. TECHNOLOGY ABSORPTION:
Efforts made in technology absorption:
As perform 'B' annexed.
C. FOREIGN EXCHANGE EARNING AND OUTGO:
Activities relating to export, initiative taken to increase export
development of new export market for products and services and export
The company has not undertaken any export activity during the year.
Total foreign exchange used and earned:
(Rs. In lacs)
Total foreign exchange earning - -
Total foreign exchange outgo 26.10 16.29
Declaration of producers with respect to conservation of energy for the
year ended 31.03.2009:
POWER AND FUEL CONSUMPTION:
-Unit (in lacs) 1.87 3.26
-Total amount (RS. In Lacs) 9.75 11.60
-Rate (Rs./Unit) 5.21 3.56
CONSUMPTION PER UNIT OF PRODUCTION:
Electricity (Elec. Unit/Prod. Unit) 3.70 1.91
Form for disclosure of particulars with respect to technology absorption:
RESEARCH AND DEVELOPMENT (R & D):
1. SPECIFIC AREAS IN WHICH R&D PROPOSED TO BE CARRIED OUT BY THE COMPANY:
The company has undertaken to set up a project to develop an in-house
system of research and analysis for developing sophisticated lighting
2. BENEFITS DERIVED:
The project is yet to be completed.
3. FUTURE PLAN OF ACTION:
The Company is also planning to set up solar power unit with Chinese
4. EXPENDITURE ON R & D:
The entire project is on a planning stage at the moment.
TECHNOLOGY ABSORPTION, ADOPTATION AND INNOVATION:
1. EFFORTS MADE:
Continuous efforts are being made towards improvement in the existing
The company is successful in improving the quality of its products.
3. PARTICULARS OF TECHNOLOGY IMPORTED DURING LAST 5 YEARS:
MANAGEMENT DISCUSSION & ANALYSIS:
INDUSTRY STRUCTURE & DEVELOPMENT:
Indian Economy is being considered as one of the fasted growing Economy in
World. To cope with the space of Industrial Growth of the Country. Prime
focus has been given to infrastructure development. As a consequence there
of a boom is resulting in construction industries all over the country
which resulted in increasing the demands for the products of Electrical &
Electronics Industries in Geometric probation. Over all Industrial growth
of the country also stimulates the demands for modern sophisticated and
luxury items as usual. However, the traditional items continue to rule the
mass market. Yours Directors are duly geared to the changed situation and
have appropriately revised its production schedules and product ranges to
avail of the market opportunities for the fullest extent. The company has
entered into technical collaboration with a Korean Company for manufacture
as well import of very Electronics Items and lighting products keeping in
view the market demands as also the Government supply requirements. The
Company is also obtained the distributorship for all India of M/s. Music &
Sales GMBH Germany manufacturer of H.K. Audio devices for sound systems and
also started the business.
OPPORTUNITIES & THREAT:
The increased cost of power has turned the general attention towards
economy in power consumption. In the process the developed countries have
concentrated in the CFL Lights. The Indian Market is not lagging behind.
Encouraged by the growing demands for CFL Lamps more and more companies
have entered the market by importing cheaper varieties from South Asia and
Korea in bulk. There is a huge opportunity for domestic manufacture of CFL
Variety at a lower cost. The company is in process of importing the
Technologies for manufacture of CFL Variety here. But there is a threat of
un-even competition from the dumping by cheaper varieties by foreign
manufacturers from the East.
The Company has finally come out the red and is now endeavouring to turn
the table. Your Directors foresee brighter days ahead. The new generation
is committed to grow progressively always in tune with the country's growth
RISK & CONCERN:
Your Directors do not foresee any immediate risk as such. Yet the following
factors may influence further prospects to some extent:
(i) fluctuation in Budget allocations for infrastructure Developments
affecting the growth in the demand for Lighting products; and
(ii) Intensity of the price war imported by new entrants from other Asian
Countries, specially China, USA and Korea.
RESEARCH & DEVELOPMENT:
The Company is in the process up a more Research & Development centre with
necessary state of the art laboratory facilities. The new setup will be
exclusively enqaqed for development of a new range or value added products.
The Company has obtained ISO 9001-2000 for maintenance of international
The Company has proper and adequate system of internal controls
commensurate with the size of the Company and the nature of its business.
Regular Internal Audits and checks are carried out to ensure that the
responsibilities are executed effectively and that adequate systems are in
HUMAN RESOURCE DEVELOPMENT & INDUSTRIAL RELATION:
The Company continues to maintain excellent Industrial Relations while
ensuring continuous development of Human Resources through appropriate
training and Educational Programmes towards achieving improved productivity
and flexibility in production and marketing.
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