DUFA INDIAN SAMAY LIMITED
Your Directors present the Ninth Annual Report on the Accounts of the
Company for the year ended 31st March, 1994. During the year under review,
the company continued to face severe financial crises. The constraints
were further aggravated on account of decrease in production because of
non-availability of working Capital. The net result was that company kept
on incurring cash losses.
During the period under review, Mr F.A. Farve resigned from the office of
Directors as alternate Director. Your Directors wish to place on record
their deep appreciation of service rendered by Mr F.A. Farve.
Mr. H.B. Chugh retire in rotation at the forthcoming Annual General Meeting
and being eligible offers himself for re-appointment, Your Directors
recommended for his re-appointment.
PARTICULARS OF ENERGY CONSERVATION ETC.
Particulars with respect to conservation of energy as per Section 217 (2A)
of the Companies Act, 1956 is annexed and forms part of this report.
The company has not invited nor accepted any deposits in pursuant to
Section 58 (A) of the Companies Act, 1956.
Statutory Auditors M/s. Rajeev Agarwal & Associates, Chartered Accountants,
Jaipur retire on the conclusion of the ensuing Annual General Meeting and
being eligible have offered themselves for re-appointment. The certificate
in compliance of Section 224 (1B) of the Companies Act, 1956 has been
received. Your Directors recommend for their re-appointment.
Industrial Relations remained cordial all throughout the year.
Your Directors acknowledge with deep sense of gratitude, the valuable co-
operation and support provided by its Foreign Collaborators DUFA
Uhrenfabriken Gmbh, Germany and Industrial Finance Corporation of India,
Industrial Credit & Investment Corporation of India, Rajasthan State
Industrial Development Corporation Ltd., State Bank of Bikaner & Jaipur,
DEG-Deusche Investitions-und Entwicklungsgesellschaft Gmbh, Germany
Government Institutions, Agencies and all other bodies associated with the
company. The Board also takes on record the sincere efforts put in by all staff members at all levels.
DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY ETC
a) POWER AND FUEL CONSUMPTION
a) Purchased unit (KWH) 47300 172,268
Total Amount (Rs) 106797 340,917
Rate/Unit (Rs) 2.26 1.98
b) Own Generation
i) Through diesel Generator - 320 KVA 15636 9,393
Unit per Litre of Diesel Oil (KWH) 2.71 2.72
Cost of Diesel per unit (Rs) -- --
ii) Through Steam turbine/Generator NIL NIL
2) Coal (Specify Quality and used) NIL NIL
3) Furnance Oil NIL NIL
4) Other/Internal generation NIL NIL
(Please give details)
b) CONSUMPTION PER UNIT OF PRODUCTS
Product : Quarts Timing Stepper Quartz Timing Stepper
Movements Motor Movements Motor
Units : Lac. Pcs. Lac.pcs Lac. Pcs. Lac.pcs
Electricity(KWH) 676000 465589
Furnance Oil -- -- -- --
Coal (Specify Quality) -- -- -- --
Others (Specify) -- -- -- --
B. 1) RESERACH & DEVELOPMENT
1. Specific area in which R & D carried out by Company.
-- Development indeginously additional components and improved
2. Benefits derived as a result of the above R & D
-- The company has been able to reduce the input cost.
II) TECHNOLOGY ABSORPTION,ADAPTION,INNOVATION
1. Efforts made towards : The production team has been constantly
technology absorption upgrading technology obtained. They are
adaption & innovation periodically coming out with new ideas
to improve the process as well as modify
2. Benefits derived : : Constant high quality, significant
i) Product improvement & reduction in process rejection has
& Wastage reduction been achieved.
ii) Cost reduction : Constant review & measures taken to
effect cost reduction.
iii) Product development/ : Modification in production specification
characterstics have been done to suit
specific requirement of customers.
iv) Import substitution : Indegenously development various
components of imported equipments &
machinery which are working
III) DETAILS OF IMPORTED TECHNOLOGY
i) Technology Imported : Designs,Drawing,testing and personnel
Training for manufacture of Quartz
ii) Year of Import : 1987-1988
iii) Has Technology been fully : Yes, as per approved phased
manufacturing Programme, the company
has absorbed the technology.
C) FOREIGN EXCHANGE EARNINGS & OUTGO
The Company has not exported its product during the year under review,
therefore, there is no Foreign exchange earnings during the year. There
has been no foreign exchange outgo.
For and on behalf of the Board
Place : New Delhi
Dated : 19th August 1994