Global Syntex (Bhilwara) Ltd.
||ISIN Code: N.A.
05:30 | 01 Jan
Global Syntex (Bhilwara) Ltd
05:30 | 01 Jan
Global Syntex (Bhilwara) Ltd
Global Syntex (Bhilwara) Ltd. (GLOBALSYNTEX) - Director Report
Company director report
GLOBAL SYNTEX (BHILWARA) LTD.
ANNUAL REPORT 1999-2000
Your Directors have pleasure in presenting the 15th Annual Report together
with the Audited Accounts for the year ended 31.03.2000
With a view to retain the profit in the working of the Company and taking a
conservative view your directors do not recommed any dividend.
The Company has paid Rs. 347.34 lacs as excise duty to the exchequer during
the year (Previous year Rs. 311.02 lacs).
In View of Clause 43 of the listing agreement the net sales/Income & profit
after tax projected for the year 1999-2000 were Rs.2213.21 lacs. (Actual
Rs. 1875.42 lacs) and Rs.151.39 lacs (Actual Rs.35.80 lacs) respectively.
The delay in project as envisaged in the public issue is on account of
awaited allotment money and depressed market condition.
The company has achieved turnover of Rs.1875.42 lacs and earned cash profit
of Rs. 66.72 lacs. as against previous year turnover of Rs.1331.09 lacs &
cash profit of Rs. 47.39 lacs.
The company has incurred capital expenditure on updating the plant &
machinery and further installed Jet Dyeing Machines and other balancing
equipments to optimise the production and reduce the operation cost with
simultaneous increase in quality of fabric processed. This resulted in
increase in the production from 74.01 lacs mtrs in previous year to 169.02
lacs mtrs of the year under review.
The Directors are also making continous efforts to improve the capacity
utilisation for the better profitability.
During the year company has further installed jet dyeing & other equipments
& modernise some of machines with the total outlay of Rs.101.00 lacs which
has further improved the capacity utilisation as well as operating profits.
Company is further installing jet dyeing & other machineries during current
Financial year with the term loan assistance from RIICO and total capital
expenditure of Rs.79.00 lacs.
The Company has not accepted any deposit from the public.
Necessary steps were taken by your company to ensure y2k compliance by
upgradation/re-placement of hardware and software. consequently, the
company had a smooth transaction to the year 2000.
CONSERVATION OF ENERGY,TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND
A statement containing the necessary information as required under the
Companies (disclosure of particulars in the report of Board of Directors)
Rules,1988 is annexed hereto and marked annexure - 'A' to this report.
Shri B.M. Bhadada retires by rotation and being eligible offers themselves
OBSERVATION OF AUDITORS IN ANNUAL ACCOUNTS:
With reference to the observation contained in the Auditors report, your
Directors wish to state that the respective notes to the accounts are
During the year under review, relation between the management, staff and
workers continued to be cordial. Your Directors place on record their
appreciation for the dedicated service rendered by executives, staff and
None of the employee of the company is covered U/s 217 (2A) of the
Companies Act.1956 read with the companies (Particulars of employees) Rules
1975 as amended.
M/s P. Mehta & Associates, Chartered Accountants, Bhilwara the auditors of
the company retires at the ensuing Annual General Meeting and being
eligible offers themselves for reappointment.
The Board records its grateful appreciation for the co-operation, guidance
and encouragement given to the company by the financial Institutions, Banks
and various departments of the Central & State Governments and our esteemed
FOR & ON BEHALF OF THE BOARD
Place: Bhilwara (D.S. RANKA)
Date: 12.08.2000 MANAGING DIRECTOR
PARTICULARS AS REQUIRED UNDER THE COMPANIES (DISCLOSURES OF PARTICULARS IN
THE REPORT OF BOARD OF DIRECTORS) RULES 1988 AND FORMING PART OF THE
DIRECTORS' REPORT FOR THE YEAR ENDED 31ST MARCH 2000.
A) CONSERVATION OF ENERGY.
a) Energy Conservation measures : Attention paid to power factor and
taken ongoing process of creating awareness
among employees of the need to conserve
electricity, oil & lubricants and the
b & c) Additional investment : Steps already taken for conservation of
proposals and impact. energy while installing the plant. There
is no further scope in this regard.
d) Power & Fuel consumption. : Form 'A' appended.
B) TECHNOLOGY ABSORPTION : Nil
C) FOREIGN EXCHANGE EARNING : Nil
a) Export activities & export : Nil
b) Total foreign exchange used : Nil
c) Total foreign exchange : Nil
Quick Links for Global Syntex (Bhilwara):