FLEETWELD (INDIA) LIMITED
Your Directors herewith submit the 5th Annual Report of your Company for
the Financial Year ended 31st March, 1995.
1. PROGRESS OF THE PROJECT:
As informed to you earlier the project is implemented now and majority of
the products -more than 100 products have been developed and put into
market. Received overwhelming response and acceptability of the products.
The cable is now ISI marked and other products have also got several
approvals. Co2 Division and Machinery Division now standardised and maximum
stress is given on expansion of this Division. Similarly Low Heat Input
Welding Alloys Division is getting excellent response. This project is now
fully implemented by standardising its quality and acceptability by the
3. EXPORT OPPORTUNITIES:
On export front Company has made remarkable progress by securing orders
from several AFRICAN COUNTRIES, DUBAI, SAUDI ARABIA, SYRIA, JORDEN, KUWAIT,
BEHRAIN, MAURITIOUS, SEYCHELLES etc. Export orders worth Rs. 3 Crores on
hand. Company hopes to export almost all varieties of welding products be
ranked among major players in the field of welding in the International
We, being the third largest integrated Welding Company serving entire need
of the welding products consumers and Company hopes for making strong
foothold in welding field.
In order to conserve the Financial resources of the Company, the Board of
Directors have not recommended any dividend.
Shri M. A. Lokhandwala and Shri P. K. Kohli Directors, retire by rotation
and being eligible offer themselves for re-appointment.
6. FIXED DEPOSITS:
The Company has not accepted Fixed Deposits from public as envisaged under
Section 58 A and 58 B of the Companies Act, 1956 read with the Companies
(Acceptance of Deposits Rules) 1975.
present Auditors M/s. J. HARKISON DAS & Co. Chartered Accountants, Baroda,
are retiring at the conclusion of 5th Annual General Meeting. You are
requested to appoint them as they are eligible for re-appointment.
8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Particulars regarding the conservation of energy, technological absorption
and Foreign exchange earnings and outgo as envisaged by Sec. 217 (1) (e) of
the Companies Act, 1956 read with the Companies (Disclosure of Particulars
in the report of the Board of Directors) Rules, 1988 are placed at
9. PARTICULARS OF EMPLOYEES:
Your Directors like to place on record their appreciation of contribution
made by the employees at all levels their stead- fastness, solidarity and
with their co-operation and support, have made it possible for the Company
to implement the project effectively.
Employees continue to remain our major assets, in our-continuing endeavors
in the pursuit for excellence.
Information under Sec. 217 (2-A) of the Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975, has not been given as
there are no employees who have drawn salary more than Rs. 25,000 per
month, during the year.
The Board of Directors are pleased to place on record their sense of
gratitude for the continued financial support by banks and other
ANNEXURE DIRECTORS' REPORT
Particulars required under the Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988.
A. CONSERVATION OF ENERGY:
Abundant care and attention has been exercised in selection of equipment in
order to minimise the consumption of fuel and power.
B. TECHNOLOGY ABSORPTION, ADOPTATION AND INNOVATION:
Efforts in brief are made towards Technology absorption, adoptation and
innovation. Benefits derived as a result of the above efforts, e.g. product
development cost reduction and improvement in quality of products.
C. FOREIGN EXCHANGE EARNINGS AND OUTGO:
During the year the company has shown following foreign exchange
Total foreign exchange used NIL
Total Foreign exchange earned. Rs. 3,75,240.
By Order of the Board
Place : Baroda
Dated : 28th August, 1995.