Eupharma Laboratories Ltd.
||Sector: Health care
||ISIN Code: INE909A01014
05:30 | 01 Jan
Eupharma Laboratories Ltd
05:30 | 01 Jan
Eupharma Laboratories Ltd
Eupharma Laboratories Ltd. (EUPHARMLAB) - Director Report
Company director report
EUPHARMA LABORATORIES LIMITED
ANNUAL REPORT 1999-2000
To the Members,
Your Directors have the pleasure in presenting the 16th Annual Report
together with the Audited Accounts for the year ended 30th June 2000.
The total revenue during the year under review was Rs.3216.05 Lacs. This
revenue has created a gross profit of Rs.60.24 Lacs due to the non
availability of required Working Capital and poor recovery condition
because of all over sluggish trend in economy worldwide has resulted a net
loss of Rs.91.75 Lacs.
The Company in under going significant restructuring operation. The Mumbai
unit has been closed down since June, 1999 and the management concentrating
at the production there at Indrad Unit. The Unit has already started with
a successful testing stage and the management hope that the operation in
the unit will meet the requirement of Company's projected export as well as
In view of the non-availability of profits for the year under review and
with a view to conserve the resources, your directors do not recommend any
dividend for the year ended 30th June, 2000.
3. AUDITORS REPORT
Observations made in the Auditors' Report which are dealt with a
appropriate place are self explanatory and hence no further comments are
The Board of Directors has also undergone with several changes.
1. Mr. Ashok Agarwal, a renowned entrepreneur in the area of Information
Technology having its excellence in corporate rejuvenation, has been
appointed as Non- Rotational Director and Non Executive Chairman ' of the
Company subject to the confirmation from the Shareholders.
2. Mr. N.M. Rampuria, a highly qualified professional from the field of the
corporatory structure and system integration, has been appointed as
Director of the Company subject to the confirmation from the Shareholders.
3. Mr. Mohan Rawat, a Chartered Accountant with excellence in finance has
joined the Board with effect from 16th December,2000 subject to the
confirmation from the Shareholders.
4. Mr. Shrenik R. Shah, is been on the Board of the Company for quite a
time and is very much acquainted with the working environment of your
The Company has not accepted any deposit from public. The amount due to
Directors and Inter Corporate Deposits are exempt deposits under section
58A of the Companies Act,1956 read with the Companies (Acceptance of
Deposits) Rules,1975. There are no deposit outstanding as at 30th June
6. PARTICULARS OF EMPLOYEES
Information as Section 217(2A) of the Companies Act,1956 read with the
Companies (Particulars of Employees) Rules,1975 forms part of this Report.
As per the provisions of Section 219 (1)(b)(iv) of the Companies Act,1956,
the Report is being sent to the Shareholders of the Company, excluding the
statement of particulars of employees under Section 217(2A) of the Act. Any
shareholder interested in obtaining a copy of the said statement may write
to the Company at the Registered Office of the Company.
Your Board has recommended the appointment of M/s Rajesh Kukreja &
Associates as the Statutory Auditors in place of the retiring auditor for
which required resolution has been placed before you in the Sixteenth
Annual General Meeting. A certificate under Section 224(1 B) of the
Companies Act, 1956 has been obtained from M/s Rajesh Kukreja & Associates,
8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO.
In accordance with the requirements of Section 217(1)(e) of the Companies
Act,1956 read with the Companies Act (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988, statement showing particulars
with respect to conservation of the energy technology absorption and
foreign exchange earnings and outgo, is given in the Annexure-II which
forms part of the report.
Your Directors take this opportunity to thank our bankers and other
financial institutions for their continued cooperation. The Directors also
place on record their sincere appreciation of the dedicated efforts of
employees at all levels.
For and on behalf of the Board
Place : Mumbai Ramanlal Vadilal Shah
Dated : 16.12.2000 (Chairman & Mg. Director)
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